SoFi Blog

Tips and news—
for your financial moves.

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July Monthly Market Commentary

The Fed made moves, big tech got slapped and the candidates bristled.

Another month is in the books, and the more things change the more they stay the same. Stock markets seemed to climb to new heights in July while pundits continued to discount the rally and call for the next recession. Even presidential candidates got in on the doomsday predictions this month.

Just like in June, market-moving news is coming from the Fed, geopolitical tensions, and major technology companies. As the summer winds down, sit back and catch up on some highlights from July.

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Dorm Essentials for Incoming Freshman

Let’s be real: shopping for your new dorm is one of the most exciting parts of going away to college. You might be leaving home for the first time ever, and are anxious to design a room that is somehow practical, comfortable, and well-designed all at once.

While there are plenty of lists that will tell you exactly what size sheets to bring and where to find the perfect set of plastic drawers, the reality is that there are some completely unexpected necessities you’ll need for your new home away from home. From multiple light sources to backup phone chargers, we’ve got you covered with our ultimate dorm room essentials list.

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Most Affordable U.S. Cities to Live In

Let’s admit it, everyone loves a good deal. From a killer happy hour, to a clothing sale, saving money can be satisfying—even life changing.

So imagine saving much more than on a meal or a new outfit. Living in one of the most affordable cities in the US could mean saving across the board. That means greater financial stability, and maybe even purchasing a home of your own—sooner rather than later.

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Should You Give Your College Freshman an Allowance?

It’s that time of year. Summer is coming to a close and that moment you have been waiting (or dreading) all season has arrived. Your baby is finally headed off to college. And while this new chapter in life is exciting for everyone, you might be asking yourself, “What is a reasonable allowance for a college student?”

Okay, maybe it’s not the first question you are asking yourself, but it’s a fair question that can run through parents’ minds. How will your child financially survive their first year of college? Will they have enough to enjoy the college experience?

The College Board reports tuition and fees for undergraduates attending an in-state, four-year college is a staggering $10,230 per year . And that’s not including room and board. Once you and your child get the cost of tuition taken care of, is there room for a college allowance?

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Do Colleges Look at Senior Year Grades?

With your college acceptance letter in hand, you might feel like you’ve scored a free ride for the rest of the year. After a stressful fall of applying to schools and considering majors, the burnout is real. At this point, you might be tempted to let commitments slide and ride out the remainder of your senior year. Why do grades matter when you’re already on your way to your dream school?

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