Do Ivy Leaguers Get Better Rates For Loans

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Do Ivy Leaguers Get Better Rates For Loans

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Protected: 09/02/2014 | “5 Things Worth Waiting In Line For”

September 02, 2014

As most of know, student debt is becoming the new silent killer for generation Y. People in their 20's and 30's may need to find different alternatives on how to pay off their student debt or even how to refinance the debt. Programs seem to be popping up all over the internet and I recently had the chance to interview Mike Cagney, CEO and Chairman of SoFi which is a company who can help with figuring out your student debt and more.

If you need to refinance your student loans, SoFI (www.sofi.com) has some really cool programs:

  • Fixed rates can start as low as 3.63% and variable rates even lower. SoFi has its own specific underwriting process that allows them to be more selective with the types of students it loans to currently. Think about it. Better school, consistent job, etc. might mean you have a much better ability to pay back the lender.
  • Unemployment protection is an excellent feature offered by SoFi. Sometimes you may have a break in employment and while you are finding a new job your payments are paused. Interest will still accrue, but you have a window to get yourself back on track.
  • SoFi even offers career support. What kind of lender does that today? This can help you with coaching, career tactics, and even networking.
  • When you refinance through SoFI, you can gain access and build a relationship with the lender to look at future debt products such as personal loans and mortgage loans.
  • The best thing is that it will all take less than 10 minutes.

Do 'Ivy Leaguers' get better interest rates? It only stands to reason that FICO score is just one way to manage the risk for loaning money to an individual. With student loans being such a large and looming issue, SoFi is something to check out to see if you too can lower your overall student debt loan rate.

Written by: Ted Jenkin
Request a FREE consultation: www.oxygenfinancial.net


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