With the average amount of student loans well over six figures for dental school borrowers, more dental professionals than ever are looking for solutions to help deal with debt. To help ease this debt burden, IDA has partnered with SoFi to offer our members and their families a $500 welcome bonus1 when they refinance their student and Parent PLUS loans with SoFi through SoFi.com/IDA.
SoFi Informational Webinars
SoFi will be hosting an informational webinar on Tuesday, November 7, at 12:00p ET and Thursday, November 9, at 5:30p ET to answer questions about their product and how you can save on your student debt. Please register HERE for a webinar. Feel free to invite your family members to join the webinar if they would like to refinance, or learn more.
The main benefits of SoFi include:
- Savings: SoFi dentist borrowers save $800 a month2on average over the life of their loans when they refinance.
- Rates: Low variable and fixed rates. Check out current rates at SoFi.com/IDA.
- Simplicity: Consolidate all existing student loans (federal and private) into a single loan with one monthly payment.
- Perks: SoFi offers career counseling, member events, a referral program, and more.
- No Hidden Fees: No origination fees and no prepayment penalties.
How To Get Started
To apply for a free, no-commitment rate quote, just complete the online application at SoFi.com/IDA. The application will take approximately 10 minutes to complete. The entire application process from pre-approval to funding takes about 14 days on average.
Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. 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. SoFi loans not offered to residents of Nevada. Other state restrictions may apply. See eligibility requirements at sofi.com/legal. Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636.
1Payment will be issued electronically once you become a SoFi borrower; you have submitted a completed application with documents and your loan has been disbursed. Offer good for new customers only.
2Monthly savings calculation of $800 is based on all SoFi members with a dental school degree who refinanced their student loans between 2/28/2014 and 6/30/2016. The calculation is derived by averaging the monthly savings of SoFi members with a dental school degree, which is calculated by taking the monthly student loan payments prior to refinancing minus the monthly student loan payments after refinancing with SoFi. SoFi’s monthly savings methodology for student loan refinancing assumes 1) members’ interest rates do not change over time (PROJECTIONS FOR VARIABLE RATES ARE STATIC AT THE TIME OF REFINANCING AND DO NOT REFLECT ACTUAL MOVEMENT OF RATES IN THE FUTURE) 2) members make all payments on time. SoFi’s monthly savings methodology for student loan refinancing excludes refinancings in which 1) members elect a SoFi loan with a shorter term than their prior student loan term(s) 2) the term length of the SoFi member’s prior student loan(s) was shorter than 5 years or longer than 30 years 3) the SoFi member did not provide correct or complete information regarding his or her outstanding balance, loan type, APR, or current monthly payment. SoFi excludes the above refinancings in an effort to maximize transparency on how we calculate our monthly savings amount and to minimize the risk of member data error skewing the monthly savings amount.