Student loan refinancing: Sora executes savings for an Orthopedic Surgeon
Sora has helped another client save thousands of dollars
Dr. Obinna “Obi” Adigweme
Introduction
When it comes to improving someone’s quality of life, you would typically look at Dr. Obinna “Obi” Adigweme. From attending Florida State University Medical School to cheering on the Jaguars on Sundays, you’d be hard pressed to find someone who loves Florida more than Dr. Adigweme. He finds passion in working with individuals across all ages in improving their joint function and quality of life through minimally invasive and seamless techniques. As a part of his training to become a physician, Dr. Adigweme leveraged student loans. The American Association of Medical Colleges reports that the student debt of medical students at a public college is about $194,000 and $218,000 in a private college. With 64 months remaining on his current rate of 4.375% and looking to purchase a house, Dr. Adigweme was curious if he could reduce his student loan payments.
What was the process like?
Sora onboarded Dr. Adigweme in less than two minutes capturing his current loan terms, credit score, income, employment, and last four digits of his SSN. Because his loans were already private through SoFi (Sora does not currently recommend people with federal student loans refinance given the payment moratorium till January 1, 2023 and forgiveness for those that quality), Sora was able to rapidly scan and lock Dr. Adigweme from a 4.375% rate into a 2.99% rate with Earnest. Since he last refinanced his loans, Dr. Adigweme saw an increase in his income and credit score. These played a large role because his borrower profile was much more appealing to lenders - even in a rising rate environment.
So how much did Sora save Dr. Adigweme?
By refinancing via Sora, Dr. Adigweme reduced his total cost of interest by $9,500.
Conclusion:
Being able to improve Dr. Obinna’s quality of life in a seamless fashion, as he does for his countless patients is what we strive for at Sora. If your clients are currently looking for a new loan or hoping to refinance their loan, see how much Sora can save them. Sign up and schedule a demo here to join our 50+ financial advisors who are ensuring that their clients never have to overpay for their loans again.