Membership & Fellowship: Student Debt Solutions for ACOG Members

Got student loans? You’re certainly not alone. Over the past decade, student loan debt has climbed to more than $1.3 trillion1, becoming the largest consumer liability after mortgages. With the average amount of student loans for undergrads now more than $37,0002, and well over six figures for medical school borrowers, more medical professionals than ever are looking for ways to manage their debt.

Fortunately, as the student loan market has grown, solutions have surfaced to address borrower needs—in particular, student loan refinancing.

ACOG has partnered with SoFi, the market leader in student loan refinancing, to help our members with their student debt burden. Through our partnership, ACOG members and their families are eligible for a 0.125% rate discount5 upon refinancing their student or Parent PLUS loans through  SoFi consolidates and refinances both federal and private loans.

As the largest provider of student loan refinancing, SoFi has extensive experience helping medical professionals navigate the refinance landscape. SoFi physician borrowers save an average of $46,0864 over the life of their loans when they refinance.

Similar to mortgages, refinancing student loans at a lower interest rate can potentially allow you to3:

  • Save money on total interest
  • Make lower monthly payments
  • Shorten loan term
  • Switch from a fixed rate loan to a variable rate loan, or vice versa
  • Simplify your monthly bill through consolidation

The application process is simple and begins with an online pre-approval at Qualifying applicants will see the rates and terms available to them, so they can decide how to proceed. Once you select your repayment term, you simply upload the necessary documents, and SoFi does the rest!

If you’ve borrowed money to invest in your education, you know that paying interest on student loan debt is simply part of the deal. When you first take out loans, “interest” can seem like an abstract notion. But over time, it becomes a force to be reckoned with—particularly for medical professionals, who often have six figures of debt to repay3.

Need the hard numbers? Let's say you have $250,000 in student loans at a 6.8% weighted average interest rate and 10-year term. Your monthly loan payment would be $2,877 per month, and you'd pay $95,241 in interest over the life of the loan. If you can reduce that rate by even 1 percentage point to 5.8%, your monthly payment goes down by $127/month, and you would save more than $15,000 in total interest over the lifetime of your loan.

It takes just two minutes to check your rates at

If you have any questions about SoFi student loan refinancing, please visit You may also contact customer service by phone: 855-456-7634 or email:


1Federal Reserve System: Consumer Credit Outstanding

2Wall Street Journal

3The SoFi Guide to Refinancing Med School Loans


5Rate discount will be issued electronically once you become a SoFi borrower; you have submitted a completed application with documents and your loan has been disbursed. Offer good for new customers only.

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (

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