So Money - Episode 261

Dan Macklin

Co-Founder of SoFi

I’m dedicating this show to all my student loan borrowers out there. I know you listen to this show. I know you’re dedicated to getting ahead financially. I also know that this is an extremely challenging issue. Overcoming student loan debt. In this country …we have more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, an average balance of $29,000.

To help us out with some solutions…I’ve invited the co-founder and vice president at SoFi. This company is making a big name for itself as the alternative student loan refinancing engine.

A second largest marketplace lender with over $3 billion in loans issued across student loan refinancing, mortgages, personal loans and MBA loans.  You may recognize his name because he’s also a thought leader whose perspectives on Millennial and Gen X personal finance topics have been featured in a variety of media outlets among them are ABC, FOX, CNBC, Fast Company and event Italian Vogue!

Prior to co-founding SoFi, Dan spent twelve years leading Enterprise Sales and Product Development at at Standard Chartered Bank across London, Singapore and Shanghai. Dan was born and raised in the UK, so he holds a Bachelor of Arts in Business Economics from the University of Durham in England.  He also holds a graduate degree in Management from Stanford Graduate School of Business where he was a Sloan Fellow and co-founded SoFi.

Three takeaways from our interview:

  1. How SoFi gets to refinance your student loans when other institutions can’t. Where does the money to support your debt come from?
  2. Who will probably NOT qualify for a SoFi loan.
  3. Dan’s financial philosophy? “Don’t be an ostrich.”

If you’d like to learn more about Dan Macklin, visit his website and follow him on Twitter @MacklinDan.

One of my favorite quotes from our interview: “Don’t stick your head in the sand and just hope that things will fix themselves because they won’t.” – Click To Tweet

Join thousands of ambitious people like you.

Take part in Farnoosh’s thriving personal finance community and receive her ebook, SO MONEY SECRETS, for free.