San Francisco, CA (PRWEB) July 23, 2013
SoFi (Social Finance, Inc.), the private student lender, announced today it is extending refinancing options to graduates of 18 additional universities, bringing the total number of schools it now covers to 100. Undergraduate and graduate degree-holders from these schools, including those from eligible engineering, business, medical, and law programs, will benefit from this expansion.
“We are responding to the enormous demand from graduates of schools previously outside our company footprint wanting access to our competitive rates and supportive community,” said SoFi Chief Executive Officer Mike Cagney. “We are delighted to make our refinancing options available to them.”
SoFi launched in April 2012 with a core market of 40 schools, focusing mainly on graduate business programs. With the recent expansion, including the addition of medical and engineering programs, the company has broadened its school coverage by 150%.
SoFi is using the power of social to disrupt the $1 trillion student loan industry. SoFi connects students and recent graduates with alumni and other community investors through school-specific student loan funds. Investors earn an attractive return, borrowers receive a lower loan rate than their private and federal options, and both sides benefit from the SoFi community. Founded in 2011, SoFi has funded over $120 million in loans to students and alumni from 100 top universities. To learn more about SoFi visit: http://www.SoFi.com.