- SoFi's "The Cost of Admission 2025" report reveals understanding the true cost of education is a major challenge for 95.5% of students and parents.
- 97% of respondents feel compelled to rethink financial decisions amid inflation and market volatility.
- SoFi introduces programs like SmartStart to aid in refinancing and managing student debt.
SoFi Technologies, Inc. (SOFI, Financial) has released its "The Cost of Admission 2025" report, which highlights the significant challenges Americans face in financing higher education. The report, based on a survey of 3,500 students, graduates, and parents, indicates that 95.5% of respondents encounter difficulties understanding the true cost of education, especially when navigating FAFSA®, scholarships, and grants.
Amidst inflation and volatile markets, 97% of those surveyed are reconsidering or adjusting major financial decisions, including their approach to attending college. Furthermore, 88% of participants report that student debt has postponed critical life milestones.
In response to these challenges, SoFi continues to innovate in the student lending space. The company has launched the SmartStart program, allowing members to refinance student loans with an option to pay only interest for the first nine months. Additionally, SoFi's commitment to financial independence is reinforced through the development of various resources, including the SoFi Student Loan Debt Guide.
With more than 10.9 million members, SoFi has successfully refinanced over $46 billion in student loans as of May 2025. The company remains dedicated to providing financial tools and guidance to help individuals make informed choices about their educational investments and overall financial futures.
