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San Francisco Marin Medical Society Blog

CMA, SoFi Partner to Offer Student Loan Refinancing Benefit

The California Medical Association (CMA) announced a new partnership with SoFi, an online personal finance company, to provide SFMMS/CMA members with a unique opportunity to refinance and consolidate existing student loans through the SoFi at Work program.

Sofi will offer CMA members student loan refinancing options, which include low-variable and fixed rates with terms ranging from five to 20 years, with an additional rate discount of 0.25 percent through the link. Parent PLUS loans can also be refinanced. There are no prepayment penalties. Borrowers could save $15,7672 over the life of their loans on average when they refinance their student loans with SoFi.

“We are proud to collaborate with SoFi to offer this valuable benefit to our members,” said CMA President Theodore M. Mazer, M.D. “CMA will continue to find innovative ways to help our members manage their education costs as part of our mission to increase the physician workforce in California to meet patient needs. This SoFi program gives our members the flexibility to lower their costs and tailor their repayment schedule to meet their needs, making practicing in California a more attractive option for physicians.”

The California-based SoFi is a leader in student loan refinancing and marketplace lending in the United States, with more than $30 billion in loans to date.

“People often face a hard choice between saving for retirement or paying down student debt when the answer is they should and can do both,” said Wayne Thorsen, Senior Vice President, Marketing and Strategic Partnerships at SoFi. “Forward-thinking companies and associations like CMA are thinking about the most meaningful ways to address these stresses and their members’ overall financial wellness.”

SFMMS/CMA members who refinance with SoFi also become SoFi members, which unlocks other benefits including complimentary career counseling, networking events and a referral program incentive.

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