More Magnify Money readers have chosen So Fi than any other lender.
Although So Fi initially targeted a very select group of universities (it started with Stanford), now almost anyone can apply, including if you graduated from a trade school.
Some providers with variable rates will cap them, which can help temper some of the risk.
If you go to other sites they may claim to compare several student loan offers in one step.
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Variable interest rates will almost always be lower than fixed interest rates.
But there is a reason: you end up taking all of the interest rate risk. So, we know that interest rates will go up, we just don’t know when. Just remember, when rates go up, so do your payments.
If you plan on paying off your loan very quickly, then you may not want to pay a fee.
But, if you are going to be paying your loan for a long time, a fee may be worth paying.