Borrowers typically need good credit in order to qualify for student loan refinancing, but SoFi allows you to apply with a co-signer who meets the credit and income requirements. A co-signer is then liable for any payments until the loan is fully paid off. SoFi does not offer a co-signer release option. When it comes to payment protections for borrowers, SoFi offers some of the most extensive options of all private lenders. Borrowers who find themselves unexpectedly unemployed can request loan forbearance offered in three-month increments, capped at 12 months.