SoFi is a nonprofit financial services organization that offers investing, lending and philanthropic services. Its eligibility requirements are stricter than other online personal loan lenders, but if you get a loan from this company, you also receive career counseling opportunities and business networking opportunities with other members. As such, it's an excellent choice for well-educated people who are starting out in their careers or who are looking at expanding or changing careers.

The application process is easy and quick. Potential rates are listed on its website, and your first step in applying is to provide some basic information and find out the specific rates you may qualify for. If you have any questions, you can contact customer service by phone, email or even Twitter.

SoFi is a peer-to-peer online lender that looks at your whole financial, employment and educational history. One drawback is that it has higher standards for approval than many online personal loan services. Therefore, if you are having financial difficulties or are not a college graduate, you may want to check other services on our lineup.

It outlines its qualification requirements on its website. This institution does not operate in every state, either, so you'll want to check the list of qualifying states on its website or call to make sure.

SoFi provides excellent customer support. Representatives are quick to reply via email and are willing to thoroughly answer questions over the phone. It has extended hours Monday through Thursday and is open during the day Friday through Sunday.

Getting a loan through SoFi makes you a part of the SoFi community. As a member of this community, you can access career services through the site, including networking and mentoring services. In addition, it offers business owners an entrepreneur program that may allow you to defer payments if you are able to show that you are pursuing new business ideas.

The website FAQs provide quick answers to common questions. They also highlight the differences between SoFi and traditional lenders.

This online lender offers a range of repayment options. You will see those options once you apply. Your loan may include a discretionary grace period. Forbearance and deferral programs may also be available if unexpected financial hardship makes it difficult to make your payments.

You can make payments online or set up an automatic monthly payment. Using automatic payments may qualify you for a rate reduction. If you prefer to pay by check, you can do so. There may be a grace period in case the check is slow getting to SoFi, but it's always best to send the check early to avoid late payments.

As a peer-to-peer lender, SoFi has stricter qualification guidelines than some online personal loan institutions. However, it offers excellent benefits that go beyond the loan, including career advice and excellent customer support. It's a lender worth considering, especially if you are a college graduate just starting out in your career or if you are expanding or changing your business.