A couple of years ago I applied to refinance my student loans with SoFi. They offer loan rates much lower than the 6.875% I pay on my federal student loans. They promptly rejected my application due to my debt to income ratio. I don’t blame them for that. I wouldn’t make a six figure loan to someone with my level of income either.
Earlier this year I thought I would apply to SoFi again. Since I’m a blogger, I signed up for their affiliate program with the thought that I could do a post documenting my application process and include some affiliate links. That way I could save money from getting my loan refinanced and make money with the affiliate links. That didn’t work out. They promptly rejected me again. This time I didn’t even fill out a full application. I assume that is because they used the previous information they had. On the plus side, they didn’t even pull my credit so there was no hard pull on my credit. Since I only filled out part of an application, I wasn’t able to document what the application process would be like for a first-time applicant. Thus, there was no post and no affiliate links.
That isn’t the reason you should not use my SoFi affiliate links though. If you sign up using one my SoFi affiliate links like this one -> Find My Rate No origination fees or pre-payment penalties. I’d get $100-$150 commission and you would get nothing but a refinanced loan. If you signed up through this referral link, I’d get a $300 bonus and you would get a $100 bonus. The referral link is better for both of us than the affiliate link. That is one reason you wouldn’t want to use my SoFi affiliate link That still isn’t the only reason why you shouldn’t use my affiliate link though.
The reason you shouldn’t use my SoFi affiliate link or my SoFi referral link is because there is an even better deal out there. If you go to Mr. Money Mustache’s SoFi review he has a referral link that will give you a $300 bonus. Since a $300 bonus is better than a $100 bonus that is the referral link you should use when you sign up. Although I want to make money with my blog I can’t recommend anyone use my affiliate link paying you $0 or my referral link paying $100 when I know there is a $300 referral link out there. If you are too lazy to click over to the SoFi review, you can use Mr. Money Mustache’s referral link right here. https://www.sofi.com/mrmoneymustache/
If you still want to sign up for SoFi using my affiliate link or referral link I appreciate it, but I don’t think it is very smart.