AACD Announces Preferred Pricing Partnership with SoFi

May 18, 2018 by AACD Executive Office

In dental school you’re taught all you need to become a successful dentist—but what you don’t learn is how to effectively handle your dental school debt. That’s why the AACD has partnered with SoFi. This company’s radical approach to lending and wealth management means unprecedented products and tools to faster service and open conversations. They are all about helping their members get ahead and find success, and so is the AACD.

One common confusion that SoFi has been able to clear up is the difference between Direct Consolidation and Private Student Loan refinancing. They’ve outlined the main differences in these programs below:
 

Student Loan Consolidation

 

  • Direct consolidation loan is a government program that allows you to combine multiple federal education loans into a single loan.

  • The resulting interest rate is a weighted average of your prior loan rates.

  • If your monthly payment decreases, it’s likely the result of lengthening the term, which can mean paying more interest over time.

  • Because the interest rate is not reduced, federal student loan consolidation is generally not a money-saving option.



Student Loan Refinancing

 

  • SoFi will consolidate and refinance both federal and private student loans.

  • When a private lender consolidates your student loans, what they are really doing is refinancing your loans.

  • Through private student loan consolidation, you will receive a new (hopefully lower) interest rate, based on your current financial picture.

  • If you have good credit and a strong financial picture, you could get a lower interest rate and see substantial savings through refinancing.

    If you have good credit and a strong financial picture, you could get a lower interest rate and see substantial savings through refinancing.

 
Now, because of our partnership with SoFi, AACD members receive a preferential .25% rate discount when applying through SoFi.com/AACD

Find out what rates you qualify for in 1 minute at SoFi.com/AACD or reach out to mpitzer@sofi.org with any questions about this partnership.



 



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