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Laurel Road and SoFi are online lenders that offer personal loans with similar competitive APR ranges. Established in 2013, Laurel Road is a digital banking platform that offers various financial ...
A cosigner can help you qualify for a loan, but there are risks including impacting the cosigner’s credit score or finances.
SoFi loan interest rates range from 8.99% up to 29.49% after a 0.25% discount for using autopay. There’s also a rate reduction available for having direct deposit in a linked SoFi bank account ...
In April 2024, a CNN study recognized SoFi as the "best student loan refinance lender". The study highlighted SoFi's competitive rates, flexible terms, and various perks. However, it also noted areas for improvement, specifically in disclosing the minimum credit score requirement and offering a cosigner release option for refinance loans. [69]
SoFi began in 2011 as a student-focused lender but has since expanded to offer personal loans and other banking services. LendingClub was founded in 2006 as a peer-to-peer lending platform.
SoFi personal loans may be a good choice for borrowers with good credit — the minimum credit score requirement is 680. ... PenFed and SoFi are both solid loan options. However, SoFi is the ...
A co-signer takes on all the rights and responsibilities of a loan along with the borrower. This means that if the borrower can’t make a payment on the loan, the co-signer is responsible.
SoFi also has an Unemployment Protection plan — if your loan is in good standing and you happen to lose your job, you can suspend your monthly payments for three months.