Capitalist Review

Financial Products Reviewed

SoFi vs. DRB: Which Option is Better For Student Loans and Loan Refinancing?

March 6, 2017 by CapitalistReview Leave a Comment

SoFi and DRB are two of the biggest names in the student loan world, and they handle millions of loans each year. There are a lot of similarities between the two companies, so you might think it’s just a matter of choosing one. But there are actually some big differences between the two that might make your choice a little easier.

  • Review of: SoFi vs. DRB
  • Published on: March 6th, 2017
  • Last modified: March 6th, 2017
  • SoFi Loan Bonus Offer? Get your $100 welcome bonus when you register and apply through this link
  • DRB Bonus Offer? N/A

For people worried about their credit score, it’s often no trouble checking interest rates with multiple companies. While it is true that checking a SoFi interest rate will cause a “soft pull” on credit, people usually won’t get dinged with another because they decided to check their interest rate with DRB too. The credit companies have computer algorithms that can tell when people are “shopping around.”

More About SoFi and the Advantages of a SoFi loan

  • One Letterman Drive, Building A, Suite 4700, San Francisco, CA 94129
  • (855) 456-SOFI (7634)

SoFi stands for Social Finance. The company was founded in August of 2011, and has their current headquarters in San Francisco. Their current interest rates are around 2.3% for most loans. One of the biggest advantages of Social Finance is their job placement program. When students get a loan with SoFi, they work with a team of specialists dedicated to helping them find a job, whether they’re just out of school or they’ve been out of school for a while. Any unemployed person who has a student loan with SoFi can get job search help.

Of course, SoFi wants to make sure their loan holders have jobs to make sure their loans are paid back and SoFi makes their money. But the fact that getting their loan holders working is a huge plus for Social Finance. Another great advantage of SoFi is their $100 bonus they have for new signups. That’s not a whole lot when compared to the life of a college loan, but if it’s a matter of getting it or not getting it, $100 is better than nothing. For a while, SoFi had this bonus while DRB didn’t, but DRB has since included a $100 signup bonus of their own.

More About DRB and the Advantages of a DRB student loan

  • 1001 Post Rd Darien, Connecticut 06820
  • (855) 245-0989

DRB stands for Darien Rowayton Bank. Their headquarters are in Darien, Connecticut, and for most of their loans, the interest rate is just under 4%. One of the biggest things DRB has going for them is that they’re a regular bank, not just a loan company. Many student loan consolidation options that have super low rates are just online companies. So if you want a bank as well to handle other financial transactions, consider DRB. And even though they’re a bank, DRB has student loan rates that are much lower than other banks.

One of the biggest advantages DRB has over SoFi is their programs that are geared towards specific borrowers. The special program they’re most known for would be the DRB medical school loan program. People in the medical field with a DRB loan (specifically doctor fellows and residents) only have to pay $100 a month to their loan during the whole time they’re in residence. This extends to six months after fellowship or resident training, when normal payments take effect. This benefit is probably the single biggest plus for DRB, because it makes paying for  medical student loans much easier. The DRB medical student loan program also helps because it takes in to account that a lot of people in the medical field do have financial troubles right after they graduate. A DRB loan also allows for refinancing as soon as loan repayment begins, helping people save a lot of money on interest.

Which is better: SoFi or DRB?

For most loans, SoFi is going to have a little bit of a lower interest rate. It may only be a small percentage point, but that equals out to a lot of money when a student loan is carried out over several years. When you add in SoFi’s job placement program, it just makes more sense to get a loan through SoFi because of the money it will save in the long run… remember to Get your $100 welcome bonus when you register and apply through this link

The one major advantage Darien Rowayton Bank has over SoFi would be their special program for people in the medical field. For someone getting a medical loan, that may tip the scales a little towards a student loan refinance with DRB.

Looking at online reviews, it seems like SoFi has a much better customer rating than DRB. Many people compare talking to DRB customer service like dealing with the cable company. So people who have a short temper when it comes to talking to customer service would probably be best avoiding a student loan refinance with DRB.  SoFi’s customer service facility is located in California, so when people call to speak with someone about their loans, they’ll have an easier time.

DRB has a physical presence, and it is important for some people to be able to walk into their loan company and talk to someone, for the normal student today, SoFi will be the better choice.

It’s recommended for people to apply for prequalification for both SoFi and DRB to see what interest rate they can get, as even just a percent or two can add up to thousands of dollars over the life of a loan. And when it comes down to it, it’s almost always best to choose the student loan that will save the most money.

Contents hide
1 Share this:
2 Related

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

SoFi vs. CommonBond vs. Earnest: Who Wins Student Loan Refi Showdown?
TD Ameritrade vs Betterment: The Better Stock Trading Platform?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • Jet Blue Mastercard Activate and Review (Barclaycardus Activate Online)
    Jet Blue Mastercard Activate and Review (Barclaycardus Activate Online)
  • AmericanExpress.com Confirm Card (2022 AMEX Card Review)
    AmericanExpress.com Confirm Card (2022 AMEX Card Review)
  • www.homedepot.com/applynow With Reference Number (2022)
    www.homedepot.com/applynow With Reference Number (2022)
  • Best Buy Account Credit Card Login, Activation, & Review
    Best Buy Account Credit Card Login, Activation, & Review
  • GetMyOffer.CapitalOne.com - Card Application for 2022
    GetMyOffer.CapitalOne.com - Card Application for 2022
  • SunTrust.com Activate MyCard: FAQ, Reviews, Customer Service
    SunTrust.com Activate MyCard: FAQ, Reviews, Customer Service
  • My Instant Offer Code (Apply Lending Club Personal Loan)
    My Instant Offer Code (Apply Lending Club Personal Loan)
  • www.mercurycards.com/activate - Login to Activate Your Mercury Mastercard
    www.mercurycards.com/activate - Login to Activate Your Mercury Mastercard
  • www.WellsFargo.com/ActivateCard - How Do You Activate Wells Fargo Credit Card
    www.WellsFargo.com/ActivateCard - How Do You Activate Wells Fargo Credit Card
  • Credit One Increase Credit Limit Request (How Often Does Credit One Give Increases)
    Credit One Increase Credit Limit Request (How Often Does Credit One Give Increases)




Pages

  • About Capitalist Review
  • Affiliate Policy
  • Capitalist Review
  • CapitalistReview Merch
  • CapitalistReview Privacy Policy
  • CapitalistReview Terms of Use
  • CapitalistReview.com
  • Contact
  • Sponsored, Guest Post, and Advertising

Categories

  • Credit Cards
  • Investing
  • Banking
  • Loans
  • Mortgage
  • Capital One Credit Card
  • SoFi Student Loans

Recent Posts

  • GetMyOffer.CapitalOne.com – Card Application for 2022
  • OpenSkyCC.com/Activate: MyAccount Online Account Activation
  • Exxon Mobil Credit Card Login, Application, & Review
  • Can You Use a Walmart Credit Card at Sam’s Club? (FAQ)
  • Chase Southwest Credit Card Application Status (Chase 2022)

Navigation

Capitalist Review Sitemap

Contact Us

Popular

Jetbluemastercard.com/Activate

mercurycards.com/activate

www.barclaysus.com/activate

Recent Posts

  • GetMyOffer.CapitalOne.com – Card Application for 2022
  • OpenSkyCC.com/Activate: MyAccount Online Account Activation
  • Exxon Mobil Credit Card Login, Application, & Review
  • Can You Use a Walmart Credit Card at Sam’s Club? (FAQ)
  • Chase Southwest Credit Card Application Status (Chase 2022)

RSS Capitalist Review

  • GetMyOffer.CapitalOne.com – Card Application for 2022 May 24, 2022
    Get My Offer From Capital One (Quick Summary) A credit card offer from Capital One Almost always arrives by US Mail in the form of a promotional application Intended for consumers with a good to great credit score If you receive this offer you should be happy as you have a great credit score The […]
    CapitalistReview
  • OpenSkyCC.com/Activate: MyAccount Online Account Activation May 22, 2022
    Activate an OpenSky credit card online Simply rev up the old PC and head on over to www.openskycc.com/activate and follow the on-screen instructions. Activation will take about 5 minutes to complete. Please note in order to obtain the OpenSky credit card you must be 18 years of age or older and a legal resident of […]
    CapitalistReview
  • Exxon Mobil Credit Card Login, Application, & Review May 22, 2022
    Exxon Mobil Credit Card Login If you are an Exxon Mobil credit card customer and are looking to take your credit card online please visit citiretailservices.citibankonline.com and follow the on-screen prompts. You must provide an email address, Alternative site logins include exxonmobilcard.com login and https://citiretailservices.citibankonline.com. Please note you must be 18 years of age or […]
    CapitalistReview
  • Can You Use a Walmart Credit Card at Sam’s Club? (FAQ) May 22, 2022
    Can you use a Walmart credit card at Sam’s club? Walmart issues two credit cards: Walmart MasterCard and the Walmart Rewards Card. You must be 18 years of age or older and a legal resident of the United States. Both Walmart credit cards can be used at Sam’s Club. Visit walmart.capitalone.com to learn more about […]
    CapitalistReview
  • Chase Southwest Credit Card Application Status (Chase 2022) May 22, 2022
    Credit Card Application Status Chase The best way to check the status of a Chase Southwest Credit Card Application Status is by calling 1-(888) 338-2586 and press 0 repeatedly.   Check Your Credit Card Application Chase Online You can visit the Chase Southwest credit card homepage to learn more about the application process, how to […]
    CapitalistReview

You can trust the integrity of our balanced, independent financial advice provided by Capitaliat Review. CR may, however, receive compensation from the issuers of some products mentioned in these articles. Opinions, reviews, analysis, advice, and thoughts are the author’s alone and his/her alone only. This content has not been provided by, reviewed, approved or endorsed by any advertiser, unless otherwise noted.

pages

  • About Capitalist Review
  • Affiliate Policy
  • Best Credit Cards of 2016
  • Capitalist Review
  • CapitalistReview Merch
  • CapitalistReview Privacy Policy
  • CapitalistReview Terms of Use
  • CapitalistReview.com
  • Contact
  • IndigoCard.com Apply – Indigo Platinum MasterCard Review
  • Sofi.com/Refinance1: Pre-Selected Refinance Promotional Offer Worth It?
  • Sponsored, Guest Post, and Advertising
  • Student.DRBank.com/BigSavings – Refinance Student Loan with DRB?
  • www.Betterment.com/Start – 5 Reasons to Invest with Betterment
  • www.cashnetusa.com/approved – Prequalified Loan Offer
  • www.SaveWithProsper.com – Prosper Loan Review for Borrowers
  • www.sofi.com reviews – SoFi Review and Sign Up Bonus
  • www.trysofi.com – Student Loan Refinancing From SoFi Worth It?
  • www.upstart.com/myoffer – Upstart Loan Application
  • Best Credit Cards
  • Best Credit Cards For Foodies
  • Coronavirus Home Refi?

© 2016–2022 Capitalist Review