A very large company XXXX SoFi XXXX that refinances student loans is undoubtedly engaged in deceptive and predatory lending practices. I know this because I used them to refinance my student loans recently. They advertise interest rates that would clearly be interpreted by any reasonable person as annualized rates and even call the interest rates " Annual Percentage Rates '' in the loan documents but they actually compound this rate on a daily basis, making the effective annualized rate significantly higher than that which is being advertised. I carefully reviewed the loan documents I received and only in one place, buried deep in the disclosure, does it say interest is accrued on a daily basis, and even that description is confusing because it fails to disclose that the actual interest rate a borrower will pay on an annual basis is higher than the " Annual Percentage Rate '' because of the daily compounding of interest ( which I think is a very material omission ). I genuinely believe SoFi is secretly robbing indebted students of XXXX dollars PER STUDENT by engaging in these predatory tactics and I believe action needs to be taken against them immediately. SoFi includes a well-crafted arbitration clause in their loan documents and the clause prohibits class arbitration, which effectively prevents any borrower from bringing a claim against them. I would be happy to represent myself against them, and luckily the agreement states each party pays its own legal expenses unless a claim is frivolous, but the fees of the arbitrators would quickly dwarf the amount at issue in my individual case, WHICH IS WHY I NEED YOUR HELP. You are the only available remedy for these kinds of shameful, predatory tactics. SoFi is a HUGE ORGANIZATION and the effect of taking action against them would benefit XXXX students. You have the ability to do a lot of good here ; please do n't just let it pass you by. This is wrong, legally and morally, and you should do something about it. If you agree to pay my share of the arbitrators ' fees I would be happy to take up this cause myself and set a precedent against them ( though decisions in arbitration are n't binding, it would still look very very bad for them and may encourage changes to their practices ) but I am not going out of pocket XXXX dollars more than I already am out of pocket because of these shady practices ; I really ca n't afford that.