Need help facing a mountain of debt from dental school? You’re not alone. That’s why MDA-endorsed SoFi offers MDA members a preferential .25 percent rate discount when applying through SoFi.com/MIDental.  It could save you thousands on the repayment of your loans.

Many have confusion regarding the difference between direct consolidation and private student loan refinancing programs.   SoFi explains the main differences between these programs:

Student Loan Consolidation
• A 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, not necessarily a rate reduction.
• If your monthly payment decreases, it’s likely the result of lengthening the term.

Student Loan Refinancing
• Through private student loan refinancing and 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.

To date, SoFi has refinanced over $1.2 billion in debt for dentists. Find out what rates you qualify for in two minutes at SoFi.com/MiDental. Call (833) 277-7634 if you have additional questions!