In addition to loans, it offers membership outreach in the form of financial literacy workshops and free dinners

In addition to loans, it offers membership outreach in the form of financial literacy workshops and free dinners

SoFi has not made my situation much more tenable. The main difference is that I now write one cheque instead of several, and I have an end date for when the debt, including the calculated interest about $182,000 will be paid off: 2032, when I’ll be 44, a number that feels only slightly less theoretical to me than 30 did when I was 17. What I have to pay each month is still, for the most part, more than I am able to afford, and it has kept me in a state of perpetual childishness. I rely on the help of people I love, and I live by each paycheck. I still harbour anxiety about the bad things that could befall me should the paycheck disappear.

The news ahout Cagney came out not long after I refinanced my loans with the company I became, I suppose, a SoFi’er, in the company’s parlance

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But the Important Information I receive has changed. SoFi is a Silicon Valley startup that bills itself as a new kind of finance company; its name is shorthand for Social Finance, Inc. Their aim is to empower our members a mission that was called into question by the resignation, in , of its CEO, Mike Cagney, who employees allege had engaged in serial workplace sexual harassment and who ran the office, according to a New York Times headline, like a frat house. The allegations, according to a report in the Times, include Cagney exchanging explicit text messages with employees, bragging about the size of his genitalia, and the company’s chief financial officer offering bonuses to female employees if they lost weight. In January, SoFi hired Anthony Noto, formerly of Twitter, as Cagney’s replacement.

Around the same time, I started receiving curious emails from them: You’re Invited: 2 NYC Singles Events or Come Celebrate Pride with us!

Dear NYC SoFi’er, one of these emails read, Grab a single https://getbadcreditloan.com/payday-loans-pa/sharon/ friend and join us for a fun night at Rare View Rooftop Bar and Lounge in Murray Hill! You’ll mingle with some of our most interesting (and available!) members… The invitation cited a statistic that promised 86% of members at other SoFi Singles events said they met someone they want to see again.

I will reiterate that I am a 30-year-old married man with more than $100,000 of debt, who makes less each year than what he owes. Buying a pair of trousers is a major financial decision for me. I do not think myself eligible in any sense of the word, nor do I find my debt to be amusing merely on a conversational level.

SoFi has also received criticism for its elitism, and for courting only wealthy, high-earning borrowers to which I can only say this is a category with which I do not personally identify, especially after writing the check to SoFi each month

Still, I felt as if in 10 years, the debt hadn’t changed, but the world had, or at least the world’s view of it. This thing, this 21st-century blight that had been the source of great ruin and sadness for my family, was now so normal so basic that it had been co-opted by the wellness industry of Silicon Valley. My debt was now approachable, a way to meet people. It was, in other words, an investment in my future, which is why I had gone into debt in the first place. Would SoFi be this friendly if I lost my job and missed a monthly payment?

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