Social Finance, Inc. (SoFi) and JetBlue (NASDAQ: JBLU) have announced a partnership that lets those with student loans simultaneously lower their payments while earning valuable airline loyalty points, the first partnership between a direct lender for student loans and an airline, the companies said.
Through the partnership, JetBlue´s TrueBlue members who refinance their student loans with SoFi will now earn 1 TrueBlue point for every USD 2 they refinance through the lender, up to 50,000 points.
With average monthly savings of USD 288, refinancing student loans with SoFi frees up extra money that members can use to pursue travel plans, save and invest for the future, or buy a home.
Younger Americans, especially the Millennial generation, are eager to travel but record student debt levels are holding them back.
Loans are originated by SoFi Lending Corp. and may not be available in all states.
Social Finance, Inc. (SoFi) is a new kind of finance company taking a radical approach to lending, wealth management, and insurance. The SoFi community works to empower its members to accomplish the goals they set and achieve financial greatness.
JetBlue carries more than 40 million customers a year to 101 cities in the US, Caribbean, and Latin America with an average of 1000 daily flights.