Borrowers weigh trade-offs and opportunities when considering student loan refinancing
A SoFi survey of 750 borrowers found 87% would refinance if savings were clear, but many said comparing rates and total costs was confusing.
- On Friday, August 14, 2026, SoFi released a survey of 750 borrowers revealing that 46% have considered refinancing their student loans but have not applied.
- Borrowers prioritize reducing interest rates and accelerating repayment, with 87% indicating they would likely refinance within six months if guaranteed savings. Yet 63% of respondents report their student loan debt causes moderate to extreme stress.
- Over 1 in 5 borrowers cited confusion about total savings or costs as the primary reason for feeling overwhelmed, while another 16% identified comparing interest rates as their most difficult challenge.
- Many borrowers hold a mix of federal and private student loans, complicating repayment; 40% of survey participants carry both types, while 1 in 10 remain unsure what loans they have.
- Financial burdens remain substantial, with 44% of borrowers owing $50,000 or more and 19% carrying $100,000 or more. Monthly payments range widely: 21% pay less than $150, while 20% pay $750 or more.
13 Articles
13 Articles
Borrowers weigh trade-offs and opportunities when considering student loan refinancing - The Mexico Ledger
Borrowers weigh trade-offs and opportunities when considering student loan refinancingRefinancing is a common strategy for managing student loan debt, but the decision to refinance isn’t always straightforward. SoFi surveyed 750 borrowers to learn more about their attitudes toward refinancing, student loan types, and monthly payments. The results reveal what proportion of borrowers consider refinancing, what’s holding them back, and how being ov…
Borrowers weigh trade-offs and opportunities when considering student loan refinancing - Seward Independent
Borrowers weigh trade-offs and opportunities when considering student loan refinancingRefinancing is a common strategy for managing student loan debt, but the decision to refinance isn’t always straightforward. SoFi surveyed 750 borrowers to learn more about their attitudes toward refinancing, student loan types, and monthly payments. The results reveal what proportion of borrowers consider refinancing, what’s holding them back, and how being ov…
Borrowers weigh trade-offs and opportunities when considering student loan refinancing - Stateline Publications
Borrowers weigh trade-offs and opportunities when considering student loan refinancingRefinancing is a common strategy for managing student loan debt, but the decision to refinance isn’t always straightforward. SoFi surveyed 750 borrowers to learn more about their attitudes toward refinancing, student loan types, and monthly payments. The results reveal what proportion of borrowers consider refinancing, what’s holding them back, and how being ov…
Borrowers weigh trade-offs and opportunities when considering student loan refinancing - Hillsboro Sentry Enterprise
Borrowers weigh trade-offs and opportunities when considering student loan refinancingRefinancing is a common strategy for managing student loan debt, but the decision to refinance isn’t always straightforward. SoFi surveyed 750 borrowers to learn more about their attitudes toward refinancing, student loan types, and monthly payments. The results reveal what proportion of borrowers consider refinancing, what’s holding them back, and how being ov…
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