Published on June 25th, 2019 | by Chuck0
SoFi: Refinance Student Loans And Get 1 Southwest Point Per $2, Up To 50,000 Points Total
- SoFi partnered with Southwest to offer 1 Rapid Reward point per $2 refinanced with SoFi, up to 50,000 points total.
The Fine Print
- Offer valid from 6/20/19 to 9/18/19 and eligible for new student loan refinance customers only and may not be combined with any other offers or discounts, apart from the autopay discount.
- Offer is subject to lender approval.
- To receive this offer, you must: (1) have and provide your Southwest Rapid Rewards® account number in connection with a completed loan application; (2) complete a loan application with SoFi for a student loan refinance product during the promotion period; (3) register and/or apply through the landing page sofi.com/southwest during the promotion period; (4) and meet SoFi’s underwriting criteria.
- Once conditions are met and the loan has been disbursed, you will receive your Rapid Rewards bonus points within 90 days.
- SoFi reserves the right to change or terminate the offer at any time with or without notice.
- Additional restrictions or conditions may apply.
- Rapid Rewards bonus points will not count toward A-List, A-List Preferred, or Companion Pass qualification.
- To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements.
- Your existing student loan(s) must total a minimum of $5,000 to be eligible for refinancing. Minimum loan amount may be higher in specific states due to legal requirements.
- To qualify, a borrower must be a U.S. citizen or other eligible status, have graduated with an associate degree or higher from an eligible Title-IV-accredited college or graduate program, and meet SoFi’s underwriting requirements; see www.SoFi.com/eligibility/.
- 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.
Please don’t do this deal just for the points, do your due diligence of where you’ll get the best rate, what plan is smartest, etc. But if you are refinancing with SoFi, this sounds like an easy way to rack up a bunch of bonus miles, up to 50k with $100k refinance.
Keep in mind that SoFi has other offers through various channels as well (I believe we’ve seen like $100-$300 offers from outlets like Swagbucks, Acorns, MMM), so do some shopping around to decide which refinance promo to use.
There’s also a similar offer from SoFi to get up to 50,000 Jetblue points, choose which currency you prefer.
Hat tip to jmasliah