SoFi’s legal folks have asked me to include a link to this material when discussing SoFi. It’s obviously quite long so I elected to put it on its own page.

SoFi Disclaimer Page UPDATE:

Payment example: This repayment example is based on typical loan terms for a freshman borrower who pays $100 per month during residency with a 10-year repayment term, a $100,000 loan that is disbursed in a single disbursement, with a 0.25% autopay discount, and a fixed rate of 5.66% APR (with autopay). It also assumes the borrower remains in residency for 4 years and has a 6-month grace period (together, “the residency period”) before the full repayment term begins. It works out to 54 monthly payments of $100 a month during the residency period. Then, followed by 120 monthly payments of $1,093.21 while in the full repayment period, for a total payment amount of $131,184.96. This repayment example assumes that all payments are made on time, with no pre-payments. Rates current as of 6/19/20, actual rates may vary based loan amount, creditworthiness, and other terms and conditions. Enrolling in autopay is not required to receive a loan from SoFi.

* Terms and conditions apply for the $300 Welcome Bonus. Offer is subject to lender approval and not available to residents of Ohio. To receive the offer, you must: (1) register and/or apply through the referral link you were given; (2) complete a loan application with SoFi; (3) have and provide a valid US bank account to receive bonus; (4) and meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, you will receive your welcome bonus via automated clearing house (ACH) into your checking account within 30 calendar days. Bonuses that are not redeemed within 180 calendar days of the date they were made available to the recipient may be subject to forfeit. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received as required by applicable law. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. SoFi reserves the right to change or terminate the offer at any time with or without notice.

Additional terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state, a medical resident or fellow with up to four years left in an approved program and meet SoFi’s underwriting requirements; see Notice: The minimum monthly payment of $100, while in residency period, may not pay all of the interest due each month, which will likely result in negative amortization during the residency period. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. In addition, federal student loans offer deferment and forbearance options that are not available to you if you take out a SoFi Lending Corp. Medical Resident Loan Refi. Information current as of 6/1/20 and subject to change. Loans originated by SoFi Lending Corp (dba SoFi) and may not be available in all states, such as MS and MT. Licensed by the DBO under the California Financing Law, license #6054612. NMLS #1121636 ( See for state-specific license details.