SoFi is making student loan repayment more flexible with the launch of SmartStart, a new refinance option. With SmartStart, people can put money they’d otherwise use on student loan payments in the first nine months towards supporting life transitions like finding a new job, relocating to a new city, or searching for a new home. With SmartStart, members can refinance their student loans and pay only the interest for their first nine months. This keeps minimum monthly payments low and eases financial stress as they start their next chapter. For example, a member refinancing $50,000 in loans over a 10-year term could reduce their monthly payments by more than $3,000 during their first nine months.2 After the first nine months, members will start paying the principal and interest for the remainder of the loan. SmartStart loans come with SoFi’s competitive fixed interest rates and flexible terms of up to 20 years, providing members with control over the amount they pay each month and more predictability over their budgets. Anthony Noto, CEO of SoFi. “With SmartStart, members get lower payments in the early part of their loans as they make important life transitions. There are endless ways SoFi will innovate to help our members spend less than they make and invest the rest, and that’s exactly what we’re doing with SmartStart.” Through competitive interest rates, no hidden fees, and flexible repayment options, SoFi members have saved thousands of dollars over the life of their loans. SoFi makes it easier for borrowers to lower their monthly payments, reduce their total interest costs, and pay off their loans faster. SoFi members also get access to benefits like financial planning tools, and member events, ensuring that refinancing isn’t just about saving money—it’s about setting yourself up for long-term success.