Comments on: SoFi: Refinancing Your Student Loan with Trust

By: BL

BL — Sun, 08 Nov 2020 16:31:11 +0000

In reply to Peach. I’m in the same position. It’s frustrating that we aren’t able to refinance them. Pilots are a very disciplined group and we are required to fly to gain more hours for future employment this we will always have a job.

By: Julie Fulesday

Julie Fulesday — Thu, 16 Mar 2017 20:24:29 +0000

In reply to Chris Peach. Any luck? I replied to your tweet and would love to talk further if you'd like.

By: Chris Peach

Chris Peach — Fri, 03 Mar 2017 06:01:25 +0000

In reply to Julie Fulesday. Thanks so much Julie for the second resource. I am going to do some digging to find out more! I appreciate it! :)

By: Chris Peach

Chris Peach — Thu, 02 Mar 2017 21:42:27 +0000

In reply to Julie Fulesday. Hi Julie, Thanks for the recommendation!

By: Julie Fulesday

Julie Fulesday — Tue, 28 Feb 2017 16:58:14 +0000

Chris – I truly adore your site. So many great resources and tips! I wanted to say that I recently refinanced with Elfi after being a proud Earnest customer for over a year. I found that both companies actually take into account far more than just your credit score and current income but actually look at your earning potential, savings history, retirement planning, etc. Their customer service for both are fantastic and may be a better option for people who have just recently graduated or have slightly lower credit scores.

By: Peach

Peach — Wed, 04 Nov 2015 12:04:58 +0000

In reply to Karen.

Hi Karen,

Unfortunately most lenders do student loan refinancing through undergraduate and graduate programs from the university. There may be lenders who specialize in flight training or pilot loan refinancing, but they may have different rates and stipulations than those working with the traditional university setting. 🙁

By: Karen

Karen — Tue, 03 Nov 2015 16:05:09 +0000

Hi! We have been trying to refinance a private sallie Mae loan from ATP flight school and we don’t qualify for any program, including this one from SoFi. Do you have any other recommendations? I appreciate your sound advice and clear way of explaining complex matters! Thank you!

By: Peach

Peach — Mon, 02 Nov 2015 12:07:48 +0000

In reply to Kalen Bruce. Hi Kalen, 1% doesn't sound like a lot until you start to see what that 1% represents. With large balances like mortgages, some auto loans, and even the average student loan, 1% is actually a heck of a lot when compounding it year after year. Thanks for the comment and thanks for the great articles over at your place! I am fan :)

By: Kalen Bruce

Kalen Bruce — Thu, 29 Oct 2015 15:59:15 +0000

Great information here! It’s amazing what 1% can do for a loan. Mortgages are the same way…1% can saves thousands!

By: Peach

Peach — Thu, 29 Oct 2015 05:47:16 +0000

In reply to Dianna.

Hi Dianna,

Great question. The Credit Score is not the only think they are looking at. There are other factors they may consider in during the application. I would still spend the 15 mins to find out if you do qualify or not – it can’t hurt anything, right?
Also, this is the exact reason why I am not a huge fan of the credit score. The FICO Score really has no real value of wealth. For example: When we were Paycheck to Paycheck and flat broke, we had a credit score 760. Fast forward to today where we are debt free, we hve actual cash in the bank, and a higher overall networth than we have ever had….and we are a 692. I could give you $1 million today and your credit score wouldn’t go up a point. However, it is still something you’ll want to have in good shape while you’re getting out of debt! Good luck!