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Once you embark on your college years, one of the key challenges can be picking a major. Declaring a major is a personal process based on a student’s interests, strengths, and projected career track. But simply browsing the course catalog to search for the right major is enough to make even the most assured student’s head spin.

Researching the most popular majors can help undecided students narrow their selection and find the best majors for their interests and professional goals. Here, consider this list of 20 popular paths.

A Major List

While popularity doesn’t need to drive which major you choose, diving into the data on popular college majors can illuminate trends and provide a jumping-off point for college students who just can’t decide how to declare.

Based on Niche’s top majors, ranked by the number of degrees awarded, here are some of the most popular topics that students are studying at U.S. colleges. In addition, you’ll learn which career tracks are likely after graduation.

Business and Management

Major Description: An all-encompassing term, business and management programs provide a baseline of business principles, which include critical thinking and analysis. Courses include Accounting, Business Ethics, Team Development, and Human Resources.

Job Opportunities: This broad major provides lots of postgrad directions. It can take graduates on an MBA track or can feed directly into the job market with roles in accounting, marketing, sales, account management, or financial analysis.

Recommended: Return on Education for Bachelor’s Degrees

Nursing

Major Description: There are many pathways to a nursing education. From certifications to master’s degrees, nursing course loads include everything from Anatomy and Chemistry to Statistics and care for specific populations.

Job Opportunities: The demand for nurses is growing as the industry faces a shortage of qualified hires. Graduates with a nursing degree can choose from a variety of career tracks, from being a school nurse or research nurse to working on a cruise ship or in the emergency room.

Psychology

Major Description: Psychology is the deep dive into human behavior and what drives us. A degree in psychology can be a Bachelor of Science or a Bachelor of Arts, depending on the course load. Areas of study include learning, memory, development, addiction, and childhood development.

Job Opportunities: A bachelor’s degree in psychology could mean heading to a master’s program or a doctorate. It could also lead to immediate employment in fields like marketing, teaching, or human resources.

Biology

Major Description: Biology is the study of living things, so biology majors can expect to spend plenty of class time in the lab, learning everything from human anatomy to molecular biology. It’s a mix of math, science, chemistry, and, of course, biology.

Job Opportunities: Some biology majors may choose the medical school track after graduation, but that’s not the only path to employment. Biology majors can pursue careers in pharmaceuticals, research, genetics, medicine, and even finance (thanks to a background in math and research).

Engineering

Major Description: A degree in engineering means having the critical thinking skills to solve problems. Engineering majors, embodying a mix of math, science, and business, can choose specific areas of study, from the environment to structural mechanics and chemicals.

Job Opportunities: From the laboratory to a construction site or hospital, engineers have a wide variety of career tracks to choose from. Much of this will be informed by a student’s specific area of study. A structural or civil engineer might work on state building projects, while a chemical engineer is more likely to be found in the lab, perfecting everything from medicine to cosmetics.

Recommended: Computer Science vs. Computer Engineering: What’s the Difference?

Education

Major Description: A degree in education includes studying psychology, education, and often an area of expertise (what the student will teach after graduation).

Job Opportunities: A degree in education doesn’t always mean a teaching career. Besides teaching, graduates can go into a variety of industries that support the education system, including school administration, counseling, education policy, or student life.

Recommended: What Is a TEACH Grant and How Do You Get One?

Communications

Major Description: Communications is an umbrella term for the study of media and information, from journalism to social media and public relations. Classes a communications major might take are News Writing, Mass Communications, Film Studies, and Social Media.

Job Opportunities: What graduates will do with a communications degree will hinge on the type of media they studied in school. A student who concentrates in visual media might work as a video producer or camera operator. One who studied journalism might work in public relations or technical writing.

Finance and Accounting

Major Description: Finance and accounting deal with the scrutiny of numbers. Finance often focuses on the longer term — like financial planning and budgeting. Accounting can involve more short-term money matters, like analyzing financial statements. Both degrees involve studying math, business, finances, and investments.

Job Opportunities: With a degree in finance or accounting, it’s only natural to pursue a role that deals with math and/or money. Accounting majors can pursue careers in accounting, bookkeeping, or auditing. Finance can lead to roles as an advisor, planner, or analyst in the finance space.

Criminal Justice

Major Description: For those interested in the law, majoring in criminal justice might be a good fit. This major explores not only the legal system but also the psychological study of crime, sociology, and public policy.

Job Opportunities: After graduation, many criminal justice majors will pursue law school, but that’s not the only option. Graduates can also explore law enforcement or counseling.

Anthropology and Sociology

Major Description: Anthropology and sociology are inherently the study of people — the exploration of race, gender, and geography’s influence on societies, blending the study of history with modern analysis.

Job Opportunities: Graduates may work in the research field or medical anthropology. Additionally, they may find work at the federal level, where anthropologists are often required for major projects.

Computer Science

Major Description: Computer science is the study of data, engineering, and the systems surrounding computers. A major in computer science means a steady mix of math classes and software engineering or programming courses.

Job Opportunities: The Bureau of Labor Statistics anticipates the need for computer science jobs to grow by 26% percent from 2023 to 2033, much faster than the average for all occupations. The median annual salary for computer science jobs was $140,910 in 2023 (the most recent year they have data for). Graduates can explore software development, information technology, or network security.

English

Major Description: An English major explores everything about the written word, including genres of literature and interpretation. English majors also learn critical thinking and the ability to write, whether that be technical, creative, legal, or medical writing.

Job Opportunities: Because many jobs include a solid foundation in reading and writing, an English degree can apply across many fields. Graduates might go into teaching, writing (journalist, copywriter, author), communications, or public relations.

Economics

Major Description: Economics combines the study of people with statistics to learn how government and groups develop around resources, typically money. Students will study economic theory, the history of economics, and the math that’s behind much of the statistical monitoring.

Job Opportunities: Graduates can take a variety of roles, thanks to the analytic skills of their major. That, on top of learned communication skills, makes economics majors a good fit for roles like analysts, consultants, and actuaries.

Political Science

Major Description: Political science is the study of governing, including theory, history, and current practices. This area of study requires students to follow current events as well as analyze and research past actions.

Job Opportunities: Studying political science can lead to a job in politics, but there are other options as well. The critical thinking skills lend themselves well to PR and social media management, as well as policy work or analysis.

History

Major Description: History majors analyze the past. A core part of a liberal arts degree, studying history may be a good fit for students who want a generalist education.

Job Opportunities: History majors perfect a lot of skills that come in handy in the workplace. Strong writing, reading, and analytical skills make them a great fit for roles like analyst or consultant, or a career in politics.

Recommended: The Ultimate Guide to Liberal Arts Colleges

Kinesiology/Physical Therapy

Major Description: Kinesiology is the study of physical activity. Specifically, it’s working with people to improve their health through exercising. A degree in kinesiology involves anatomy, hands-on work, and learning to work with patients.

Job Opportunities: For many, a degree in kinesiology is the foundation for a doctorate in physical therapy, but graduates can also apply their skills to careers in training, coaching, and some forms of therapy.

Health Professions

Major Description: This major will prepare students to work in the medical field, helping patients. They can expect to take classes in anatomy, chemistry, biology, public health, and medical ethics.

Job Opportunities: Graduates can find careers as health care aides, nursing assistants, and RNs.

Art

Major Description: Studying art creates the opportunity to both learn the history of a medium and create art. Students may choose a specific form of art or study movements and mediums in general.

Job Opportunities: Grads don’t have to turn to creating art full time unless they want to. They can work as art educators, in museums and art preservation, or try their hand in the work of gallery curation.

Math

Major Description: Students majoring in math will explore all math disciplines, in addition to theoretical and historical context around the subject.

Job Opportunities: A math degree is helpful in any career that deals with interpreting numbers daily: actuary, data scientist, teacher, or software developer.

Environmental Science

Major Description: Studying environmental science can be a great fit for generalists who want to explore many subjects around our surroundings and the science involved. They’ll study chemistry, biology, physics, and geography, among other subjects.

Job Opportunities: Graduates can pursue careers in research in fields including horticulture, oceanography, microbiology, and ecology.

Paying for College

Another major decision in the college process? Finding a way to pay for school.

Whatever you decide to major in (and whichever school you end up going to), a great first step to figure out college funding is to complete the Free Application for Federal Student Aid (FAFSA). This will let you know if you are eligible for any federal aid, which may include grants, scholarships, work-study, and federal student loans.

To fill in any gaps in funding, know that there are different types of student loans that can help you afford your education. For example, you may also want to explore private student loans. These are available through banks, credit unions, and online lenders. Rates and terms vary by lender, but borrowers (or cosigners) with excellent credit typically qualify for the lowest rates.

Just keep in mind that private student loans may not offer borrower protections, such as deferment and income-driven repayment plans, that come with federal student loans.

The Takeaway

Deciding on your college major can be a challenge. It can be helpful and inspiring to see what other students most commonly major in. These include business, economics, nursing, kinesiology, anthropology, and English, among others.

Another challenge can be affording a college degree. Looking into grants, scholarships, and federal and/or private student loans can help you fund your education.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

What is the most popular college major?

Currently, the most popular college major in the U.S. is business. Many students opt for a business degree, which can lead to careers in fields like accounting, finance, and marketing.

What is the hardest major?

Which subject can be considered the hardest major varies depending on the student answering, but chemistry often rises to the top as the most challenging major in college.

Which college major makes the most money?

According to recent data, computer science and/or computer engineering tend to be the highest-paying majors.

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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As all things remote rise, many people are contemplating degrees from accredited schools with “distance learning” options. These prospective students might be wondering how much these colleges cost compared to in-person options, how credible these online degrees are, what steps should be taken to apply to them, and whether there are options for student loans or financial aid.

The short answer: Online degrees can offer credible, competitively priced ways to reach your educational goals. They can have a similar application process as in-person colleges and may be financed with a wide range of financial aid and federal and private student loan options.

A Little Bit About Distance Learning

Online college falls under the umbrella of “distance learning” — a form of education conducted outside the traditional in-person classroom and facilitated with the use of technology. Many distance learning programs allow students to complete courses at their own pace and on their own schedule.

Some online colleges also incorporate learning methods like virtual classrooms and video conferencing for meeting during a designated class time. Depending on which format a student chooses, they can create their own online learning experience as part of their college education.

How Credible Are Online Degrees?

In previous decades, the jury may have been mixed on whether online degrees were considered as credible as their in-person counterparts. But with the advancement of global technology and the onset of digital transformation, online colleges have become more widely recognized as institutions of high-quality education.

According to a landmark Northeastern University’s Online Education survey, 61% of HR leaders believe online college credentials are equally credible as those completed in person. This included both degrees and certificates.

How Much Does the Average Online College Cost?

According to the U.S. News & World Report, the cost of an online degree can vary considerably. For instance, for in-state students attending public online colleges, the average total cost for a bachelor’s degree was $40,536, based on prices for the 2024-25 school year. For an online bachelor’s degrees from private colleges, the cost averaged $63,185.

This, of course, is simply the average. In some cases, online college can cost even more than in-person programs. And, in other cases, online colleges can actually pay students to attend (more on that below).

How Do I Apply for Online College?

The process of applying to an online college is similar to that of a traditional in-person college or university. Depending on which school the prospective student chooses, there should be detailed application and enrollment instructions on the website.

Each college will have its own unique admissions policies and application instructions, with some adhering to set application deadlines and others offering “rolling admissions” where students can apply at any time.

Researching deadlines and requirements in advance can be a prudent way to approach the online college application process and provide exactly what the admissions team wants.

How Do I Pay for College If I Have No Money?

There are several ways to pay for college, even if the applicant has little-to-no means of funding:

•   Applying for scholarships is one way to pay for online college without having any money. There are several resources (such as online scholarship search hubs) available for prospective college students seeking scholarships and, unlike student loans, repayment is not required.

•   Financial aid helps prospective students secure funds for online college in the form of grants, scholarships, work-study programs, and federal student loans. Filling out the FAFSA can be an important first step when seeking federal aid; just remember to be sure your program and the educational institution qualify for this kind of funding.

If you’ve received a federal student loan for online college, there are different student loan repayment options to help you tackle the tuition debt.

•   Getting an extra gig could be a great way to accumulate some extra cash to subsidize online college costs.

•   Prospective students can see if they qualify for a private student loan (more on this option below).

Are There Student Loans for Online Schools?

Yes, federal student loans are offered for eligible programs at online colleges that are accredited by the U.S. Department of Education. Contacting the university’s financial aid office prior to enrollment is the best way to check on eligibility.

Outside of federal student loans, private student loans are another way to potentially pay for online college. With private student loans, each lender will have their own eligibility requirements, terms, and conditions. Borrowers must agree to these parameters and complete on-time payments to avoid any fees or penalties associated with account delinquency. There are student loan refinancing options that may help if a student is struggling to make their payments.

What About Online Colleges That Accept FAFSA?

Yes, FAFSA® can cover eligible online classes at accredited schools. The Free Application for Federal Student Aid (FAFSA) allows prospective students to apply for financial aid for qualifying online classes at an accredited institution much like they would an in-person university. All they have to do is fill out the form online, or print and mail a paper copy. This must be done each year in which a student is seeking aid.

What Types of Federal Student Loans Are Available for Online College?

Prospective students might consider consulting with their online college’s financial aid office before deciding which type of federal student loan to apply for, but many students opt for one of the following types of Federal Direct student loans:

•  Federal Direct Subsidized loans help students who qualify for financial need and are attending traditional four-year colleges or universities, community colleges, or technical schools. The federal government will pay the loan’s interest while the borrower is in school, during the six-month grace period after graduation, and in the event of student loan deferment.
•  Federal Direct Unsubsidized loans help undergraduate, graduate, and professional school students cover college costs without requiring a demonstration of financial need. However, borrowers are responsible for paying back all the interest accrued on the loan from the time they start attending college onward (although they aren’t required to start making payments until after they graduate).
•  Direct PLUS loans are unsubsidized loans issued for graduate or professional students as well as parents of undergraduate students who are helping them pay for college.
•  Direct Consolidation loans are a way to combine different federal student loans into one single loan so the borrower can commit to one monthly payment under one loan servicer.

How Can I Get Private Student Loans?

For prospective students seeking an alternative to federally backed student loans, applying for private student loans can be another way to pay for online college. If your program and educational institution qualify for this type of funding, you can have access to financing from banks, credit unions, and online lenders. These loans can help you attend the program that suits your needs and helps you reach your education goals.

It’s worth noting, though, that rates are typically higher than those for federal loans. In addition, these loans don’t offer such federal benefits as deferment and forbearance.

The Takeaway

Online college is a form of distance education that allows students to acquire a degree outside the traditional in-person university setting. Degrees from online college degrees are considered credible by many employers and HR leaders.

There are several student loan and financial aid options for qualifying online college expenses, including federally backed student loans, scholarships, grants, and work-study programs, as well as private student loans.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

How do you pay for online college?

For eligible online college programs at accredited schools, you can pay via savings, federal or private student loans, as well as grants, scholarships, and work-study options.

How much does an online college degree cost?

According to U.S. News & World Report, the average cost of an online college degree currently ranges from $40,536 for an in-state student at a public university to $63,185 for a private college.

What type of loan can I get for an online college degree?

You may be able to access federal student loans and/or private student loans to finance an online college degree. It’s wise to check whether your program is eligible and the institution is accredited for loans from each lender you are considering; requirements can vary.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

If you’re interested in pursuing a career in the tech industry, coding bootcamps can be a quicker, more affordable alternative to getting a traditional degree. However, these courses still require a significant amount of time, energy, and money.

Are coding bootcamps worth it? They can be. You’ll want to keep in mind, however, that bootcamps vary in terms of quality, so finding a good one can take some research. In addition, the skills you learn from a bootcamp may not be enough to land the type of job or career you want.

Read on for key things you need to know about coding bootcamps. Including what they are, how they work, and how much you may be able to earn when you graduate.

What Is a Coding Bootcamp?

Coding bootcamps are short, intensive courses designed to provide in-depth training in software development fundamentals, and prepare students for entry-level jobs in the tech industry.

Many people consider bootcamps when pursuing a career change or looking for a shorter path into the tech industry, as they last about 12 weeks on average.

Bootcamps are conducted in both traditional classrooms and online, and are designed to accommodate students with little-to-no coding experience.

However, not all coding bootcamps are accredited schools. While some boot camps are affiliated with universities and, therefore, required to uphold the educational standards of the institution it is in partnership with, most coding bootcamps remain privately owned with educational standards that may not necessarily be governed by any scholarly entity.

Therefore, coding bootcamps, no matter how appealing, may not all produce the same quality of education or warrant any recognition outside of the tech industry.

Recommended: How to Pay for Coding Bootcamps

How Much Do Coding Bootcamps Cost?

The cost of coding bootcamp can vary widely, and will depend on the school, the length of the program, whether classes are in-person or online, and whether you study full or part time. However, on average, tuition for coding bootcamps can run around $12,000 to 14,000.

While that’s not nothing, it’s a lot less than the cost of a traditional undergraduate degree. According to College Data, the average annual tuition at a public university is $11,260 for in-state students and $29,150 for out-of-state students. The average annual tuition for a private institution is $41,540. If you pursue a four-year bachelor’s degree program, tuition can therefore be much more than a coding bootcamp.

Like colleges and universities, many coding bootcamps now offer a range of funding options, so you don’t necessarily have to pay the full cost up front and out of pocket. These may include:

•  Scholarships: Some bootcamps offer scholarships for women, minorities, vets and even those experiencing hardships. You can often find out about scholarship opportunities by going to the tuition section of the bootcamp’s website.
•  Loans: External loans, including private student loans, are a common way to cover the cost of bootcamp.
•  Deferred Tuition: This allows students to enter and complete a coding bootcamp without upfront payment. You are required to pay back your tuition costs only after securing a job.
•  Income-Share Agreement (ISA): This is a wage-garnishment agreement between a bootcamp and a graduate. It generally specifies that once a graduate accepts a job, a portion of their income will be paid to the bootcamp for a specified length of time.

Is There a Stigma About Coding Bootcamps?

While coding bootcamps were once similar to Massive Open Online Courses (MOOCs) — virtual, often free or low-cost, classes notorious for their low completion rates — many of these programs are now highly respected by employers.

Unlike MOOCs, which are structured to teach hundreds of students at a time, utilizing a primarily hands-off teaching model, coding bootcamps typically rely heavily on instructor direction. Indeed, there may be more than one instructor assigned to each class, which is often no larger than,say, 20 students.

Many programs are also highly intensive, requiring as much as 40 hours of weekly instruction. In addition, these programs tend to rely on project-based teaching methods that require students to immediately put their learnings into action.

However, there is no standardization for bootcamps, so all programs are not created equal. As a result, finding the right bootcamp can take a fair amount of time and effort.

If you are currently employed, it can be a good idea to talk to your supervisor or HR department about any bootcamps you are considering to get a sense of how the company views the program, and how completing the course could impact your career with the company. It’s also worth investigating if your employer offers a tuition reimbursement program that could help you cover the cost of bootcamp.

Recommended: Student’s Guide to Certificate Programs

What Can I Expect From a Coding Bootcamp?

Completing any coding bootcamp should ultimately result in fluency in at least one coding language, such as JavaScript, Python, C++, C#, or Java. In addition, you will likely graduate with a portfolio of projects you completed during the course.

And because the goal of a bootcamp is to churn graduates directly into the tech industry, these programs often help graduates find, apply, and interview for industry positions.

Bootcamps generally don’t go much further than that, however. While starting salaries for coding bootcamp graduates average $70,000 a year, these programs may not provide all the education you need to succeed in a tech career.

Also, in some cases, coding skills aren’t enough on their own to land a job. Some employers, for example, may be looking for a broader set of skills in computer science or specialization in a certain field. Others may place high value on interpersonal or soft skills that allow you to work effectively in a team and communicate with coworkers.

As a result, even after completing coding bootcamp, you may find it necessary to go back and complete your college degree at a later date.

The Takeaway

Whether or not coding bootcamp is worth it depends on your career goals and the quality of the coding camp. On the plus side, coding bootcamp can train you up quickly, and they generally cost a fraction of the cost of a typical college degree. However, if you are interested in a management career or moving beyond coding, you will likely need a traditional college degree.

FAQ

Is it realistic to get a job after coding bootcamp?

Whether or not you’ll get a job right away once you’ve completed a coding bootcamp depends on several factors, such as which course you took and how in-demand the skills taught are in your area. In many cases, the coding skills can lead to a job after the bootcamp.

Is 40 too old for coding bootcamp?

No age is too old for coding bootcamp. Most people will have plenty of prior exposure to how websites and apps work, regardless of age, which can be a positive. Having an eagerness to learn and a willingness to dive in and do the work is usually most important.

How to pick a coding bootcamp?

To select a coding bootcamp, define your career goals and interests. Consider what type of course (online, in-person, a mix) will work best for you, and then zoom in on the bootcamp’s job placement rates, reviews, and career services to make sure they have a solid record. Finally, consider the cost and how you’ll pay for it.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

If you’re applying to college or graduate school, figuring out how to pay for your education is likely top of mind. The first step for many prospective students is to fill out the Free Application for Federal Student Aid, otherwise known as the FAFSA®.

This form is your gateway not only for federal loans, but also for federal grants, work-study jobs, and even scholarships and grants available through your state or school. Filling out the FAFSA is key, since it’s how your eligibility for student aid is determined.

You might be tempted to put off filling out the application or have no idea where to start, but submitting your application early could improve your chances of earning more aid. Continue reading for more FAFSA tips and tricks to help make sure everything goes smoothly.

Tips for Filling Out the FAFSA

The FAFSA is required in order to apply for federal student loans, grants like the Pell Grant, and scholarships. Colleges and universities may also use the information provided on the FAFSA to determine college-specific awards. This is an important first step for students figuring out how they’ll pay for college.

Here are some tips to keep in mind as you fill out your form.


💡 Quick Tip: You’ll make no payments on some private student loans for six months after graduation.

Actually Fill the FAFSA Out

Some people may not complete a FAFSA under the assumption that their income, or that of their family, is too high for them to qualify for any student aid. In reality, the government has no official income threshold to qualify for federal student aid, and there are many forms of aid on the table.

So you can’t really predict whether you might benefit. You also need to fill out the FAFSA to be eligible for any type of federal student loan. Federal loans typically come with more robust benefits when compared to private student loans, including deferment during periods of economic hardship and income-driven repayment. In addition, some colleges require the FAFSA for merit-based scholarships. You don’t want to lose out on potential financial help for lack of even trying.

If you don’t end up earning as much aid as you need, you can also search for scholarships from private organizations.

Submit As Early As Possible

Typically, the FAFSA becomes available on October 1 for the following academic year. Generally, it’s a good idea to submit the FAFSA as soon after it’s released as possible, since some aid is awarded on a first-come, first-served basis. Submitting the form early could help improve your chances of receiving financial help for college.

Most importantly, don’t miss the submission deadline. Technically, the FAFSA deadline is June 30 for the school year you are requesting aid for. But colleges have their own FAFSA deadlines, which are often much earlier than the federal deadline. Plus, each state and educational institution has its own deadline for submitting the FAFSA.

You can check state deadlines on StudentAid.gov. For individual college due dates, you can go to the website for each college you’re interested in applying to, or reach out to their financial aid offices. Make sure you submit the FAFSA by the earliest deadline of the bunch.

Prepare Ahead of Time

To simplify the process of filling out the FAFSA, it’s helpful to gather everything you need in advance. Here are some of the things you may need for both yourself and your parents (if you’re a dependent):

•   Social Security Numbers, or Alien Registration Numbers for noncitizens If you don’t know these, you can request them from the Social Security Administration or U.S. Citizenship and Immigration Services.

•   Driver’s license numbers

•   Tax returns For the 2026–27 academic year, you’ll be asked for your 2024 tax information, which can typically be transferred directly from the IRS. If you or your parents have had a change of income since that tax return, you may need to let the financial aid departments of the schools you’re applying to know directly.

•   Records of assets you or your parents own This can include bank statements showing savings and checking account balances or records of investments such as stocks, bonds, or real estate, excluding the family home.

•   Records of income that isn’t taxed This might include child support or interest.

•   Federal school codes for the institutions you’re applying to You can find these on the Department of Education website. Include every school you’re even remotely considering, even if you haven’t yet submitted your application or been accepted. There are no repercussions if you end up listing schools you don’t apply to or get into. However, if you add a school later, there may be less financial aid available.

Recommended: How Many Colleges Should I Apply To?

Apply Online

You can request a paper form, but if possible, submitting your FAFSA online is the quickest and easiest way to submit your application. Make sure you are on the official Student Aid website, which should end in “.gov.” If you’re asked to provide credit card information, you’re in the wrong place (after all, “free” is in the form’s name).

Before you get started, you’ll need to create an FSA ID on StudentAid.gov. This is the username and password you’ll use to electronically sign your FAFSA, as well as to prefill information in future years, since you’ll need to fill out the FAFSA each year you want to apply for student aid.

If you are a dependent student, your parents will need to create an independent FSA ID. Because this ID serves as an official signature, you should create your own and not share it with anyone.

Take Advantage of Time Savers

Besides using an FSA ID, another way to speed up the application process is to use the IRS Data Retrieval Tool. This allows you to automatically populate answers to some questions on the FAFSA with information from you or your parents’ federal income tax returns. This not only saves time, but is also a good way to make sure you submit accurate numbers.

Get Help if You Need it

If you’re confused about something, don’t worry — and don’t ignore it. First, check the frequently asked questions on the FAFSA website. If that doesn’t help, you can contact the Federal Student Aid Information Center by chat, email, or phone.

Common Mistakes to Avoid

Every year, certain errors crop up again and again in FAFSA applications. To help prevent delays in your financial aid, it’s worth ensuring you aren’t making these common mistakes:

Leaving Fields Blank

Leaving fields blank can result in errors when filing your application. Instead, write “0” or “N/A” where relevant.

Filling Out the Application at the Same Time as Your Parents

The FAFSA will require financial information from both you and your parents. As mentioned, both you and your parents will have your own FSA ID information to log in and make changes to the FAFSA application. If you log in at the same time, you risk both of your changes not being saved properly.

Providing Incorrect Information

The FAFSA requires a lot of personal and financial information. Making careless errors or submitting incorrect information can cause issues with your application. For example, make sure you submit the correct Social Security number. If you don’t use this number often, you may not know it by heart. But being one digit off here can throw things off.

Issues can also occur if you are providing the wrong figures for investments. Carefully follow the instructions to report student and parent investments in the right place and understand what to include or exclude.

Take your time and read the questions carefully. Breezing through the application in a rush can potentially lead to wrong answers or missed fields.

Recommended: What Are the FAFSA Requirements and Do You Meet Them?

Failing to Reapply

The FAFSA isn’t a one-time deal. Most schools require you to re-apply every year, so make sure you stay on top of deadlines.


💡 Quick Tip: Would-be borrowers will want to understand the different types of student loans that are available: private student loans, federal Direct Subsidized and Unsubsidized loans, Direct PLUS loans, and more.

The Takeaway

Filling out the FAFSA is the first step to getting the financial aid many students need to make college or graduate school a reality. A few tips to help you toward FAFSA success include: reading the application closely, making sure you have the most up-to-date financial information at hand when you are ready to submit, and submitting the application as early as possible. And don’t forget, you’ll need to submit an application annually.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

How do I maximize my FAFSA money?

To maximize your FAFSA® money, submit your application as early as possible, since some aid is awarded on a first-come, first-served basis. Report accurate information and avoid overestimating income or assets, which can reduce eligibility. It’s also wise to list multiple schools to expand your aid opportunities and to research state and school deadlines in addition to the federal deadline.

What is the #1 most common FAFSA mistake?

One of the biggest FAFSA® mistakes is failing to complete the form at all, often due to the misconception that income is too high to qualify for aid. Many families miss out on federal grants, work-study programs, and even low-interest loans because they don’t apply.
Another common FAFSA mistake is leaving blank fields, or skipping questions. Leaving multiple blanks can cause miscalculations and even rejection of your application. If a question does not apply to you, enter a “0” or “not applicable” instead of leaving a blank.

What are 5 tips for filling out the FAFSA?

1.   Apply early — funds are limited and some aid is first come, first-served.

2.   Use the IRS Data Retrieval Tool for accurate tax information.

3.   List multiple schools to maximize aid opportunities.

4.   Don’t skip questions — leaving blanks can reduce eligibility.

5.   Review before submitting to catch errors in Social Security numbers, income, or asset reporting.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

✝ To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

SOISL-Q325-141

Many students in the U.S. take out loans to help pay for the cost of college, which now averages $38,270 a year, according to the Education Data Initiative.

The two major types of student loans are federal student loans and private student loans. Knowing how these different types of student loans work can help you figure out the best way to pay for your education.

Federal vs Private Student Loans

There are important distinctions between federal and private student loans. Federal student loans are backed by the U.S. Department of Education. Borrowers do not need to undergo a credit check to take out most of these loans, and the loans come with federal benefits and protections, such as income-driven repayment (IDR), deferment, forbearance, and access to the Public Service Loan Forgiveness (PSLF) program. The interest rates on newly issued federal student loans are fixed and set by law.

Private student loans are offered through financial institutions, including banks, online lenders, and credit unions. Students must undergo a credit check — or have a student loan cosigner to help them qualify. Each lender has its own interest rates and terms. Private student loans are not eligible for federal benefits like deferment and forgiveness.

For many borrowers, it makes sense to take out federal student loans first because they come with flexible repayment options and other federal benefits. Students may then want to fill any gaps with private loans.

Federal Student Loans

There are several different types of federal student loans. Understanding each type can be helpful as you work on financing your education.

Direct Subsidized Loans

Direct Subsidized Loans are based on students’ financial need. The government covers the accrued interest on these loans while the borrower is enrolled in school, during the six-month grace period after graduation, and during any periods of deferment. Direct subsidized loans are for undergraduate students only.

The interest rate for Direct Subsidized Loans disbursed after July 1, 2025 and before July 1, 2026 is 6.39%.

Direct Unsubsidized Loans

These loans are available to undergrads, graduate students, and professional students. The government does not pay the interest on Direct Unsubsidized Loans. Payments are not required as long as borrowers are full-time students, but the interest accrues and is added to the loan’s principal.

The interest rate for Direct Unsubsidized Loans for undergraduates that are disbursed after July 1, 2025 and before July 1, 2026 is 6.39%. The rate for Direct Unsubsidized Loans for graduate and professional students is 7.94%.

Interest Capitalization and Federal Borrowing Limits

Unpaid interest can capitalize on Direct Unsubsidized student loans. Interest capitalization is when unpaid interest accrues over time and gets added to the principal loan balance, and then accrues more interest. This results in borrowers paying more over the life of the loan.

Students have the option to make interest-only payments on their Direct Unsubsidized Loans while they’re in school and during other periods of deferment, which can help prevent interest capitalization.

The borrowing limits for federal student loans vary depending on a student’s year in school and whether they are a dependent or independent student. For example, first-year undergrads who are dependents (generally meaning they receive parental financial support) have a maximum borrowing limit of $5,500 their first year; of that amount, only $3,500 can be subsidized. Students who are considered independent have a maximum borrowing amount of $9,500 annually, with the same $3,500 cap on subsidized loans.

PLUS Loans

Direct PLUS Loans can currently be borrowed by a graduate student (these loans are often referred to as Grad PLUS Loans) or by an undergrad’s parents (known as Parent PLUS Loans). Like the other Direct loans, PLUS loans have fixed interest rates and federal benefits, such deferment and forgiveness. Unlike other federal loans, PLUS loans require a credit check. Interest rates for all Direct PLUS Loans disbursed after July 1, 2025 and before July 1, 2026 is 8.94%.

The maximum yearly amount a Grad PLUS Loan borrower can currently take out is $20,500. The maximum amount a Parent PLUS Loan borrower can receive is the cost of attendance at their child’s school minus any other financial assistance received.

However, due to upcoming changes to student loans as part of the new domestic policy bill, Grad PLUS Loans will be eliminated for new borrowers on July 1, 2026. There will be just one type of federal student loan available to graduate and professional students as of July 1, 2026 — the Direct Unsubsidized Loan.

In addition, graduate students will have new lending limits through the Direct Unsubsidized Loan program. This includes an annual limit of $20,500 for graduate students with a $100,000 lifetime limit. Professional students, such as medical and dental students, may qualify for a Direct Unsubsidized Loan with a yearly limit of $50,000 and a lifetime limit of $200,000.

Borrowers who already have Grad PLUS Loans before the above changes take place can continue to borrow money under the current limits for three additional academic years.

Parent PLUS loans will also have new borrowing limits. For loans disbursed on or after July 1, 2026, parents can borrow $20,000 a year, with a lifetime limit of $65,000 per student.

Direct Consolidation Loans

Borrowers who have a number of different federal student loans may want to combine all their federal loans into one loan to simplify payment. They can do this with student loan consolidation.

A Direct Consolidation Loan allows students to combine their federal student loans to make managing their loans easier. This loan will not typically lower your interest rate, however. The interest rate on a Direct Consolidation Loan is a weighted average of the interest rates on your existing student loans, rounded up to the nearest eighth of a percent.

Consolidating your federal student loans could lower your monthly payment by extending your repayment timeline. But you’ll generally end up paying more overall because of the additional interest incurred when lengthening your loan term.

How to Apply for a Federal Student Loan

To be eligible for a federal student loan, students must fill out the Free Application for Federal Student Aid (FAFSA®). On the form, they’ll answer questions about their family finances, as well their education plans. Even students who don’t think they will qualify for financial aid should still fill out the FAFSA. That’s because some schools use information from the FAFSA to determine eligibility for other types of aid like scholarships or grants. The FAFSA must be filled out and resubmitted every year.

After filling out the FAFSA, students may receive a financial aid package of grants, work study, and federal loans. Depending on your financial circumstances, the loans will either be subsidized or unsubsidized.

It can be helpful to consult a FAFSA guide before you start working on the application.

Private Student Loans

Students who don’t receive enough federal aid may want to consider private student loans to help finance their education. Private loans are offered by banks, online lenders, and credit unions, and they require a credit check, unlike federal loans.

Undergraduate Loans

Private undergraduate student loans may have fixed or variable interest rates. Students, who typically don’t have a robust credit history at this point in their lives, may want to apply with a cosigner to help qualify for a lower interest rate.

Graduate Loans

Some private lenders offer private student loans specifically for graduate students. These graduate loans may come with special features, such as longer grace periods and in-school deferment. Graduate students, who might have had more time to develop a solid credit history, may not need a cosigner.

Parent Loans

There are also private loans that parents can take out to help pay for their child’s education. Like other private student loans, parent loans typically have fixed or variable interest rates. Private loans for parents may require that payments begin right away. But some lenders offer an option for interest-only payments while your child is in college. Shop around with different lenders for the most favorable terms.

Student Refinancing Loans

Another option is student loan refinancing. When you refinance your loans with a private lender, you exchange your old loans for a new loan with new rates and terms. If you qualify for a lower interest rate, it could reduce the amount of interest you pay over the life of the loan and help you save money.

You could also lower your monthly loan payments by extending your loan terms. However, you pay more interest over the life of the loan if you refinance with an extended term.

It’s possible to refinance both private and federal student loans. But it’s important to note that refinancing federal loans makes them ineligible for federal programs and protections. If you think you might need these programs, refinancing may not be the best option for you.

How to Apply for a Private Student Loan

Borrowers interested in private student loans can fill out a loan application with a lender. Before applying, you can prequalify to see what rate you can get. This can be helpful for shopping around and evaluating different lenders for the best crates and terms.

The terms, interest rates, and borrowing limits on private loans vary by lender. Lenders use factors like the borrower’s credit score to determine the interest rate they qualify for. When borrowing a private student loan you’ll generally have the option to choose between a fixed or variable interest rate.

Private lenders offer different student loan repayment options. Some offer deferment plans while the borrower is enrolled in school, and others require payments to start as soon as the loan is disbursed.

The Takeaway

The two main types of student loans are private and federal. Federal loans are backed by the government, have a fixed interest rate, and are eligible for a variety of federal benefits. Private student loans are offered by private lenders. They involve a credit check, and you may need a cosigner on the loan to get the best rates and terms. Borrowers can choose fixed or variable rates.

It’s possible to refinance student loans in the future for a lower rate and more favorable terms if you are eligible.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

What is the difference between federal and private student loans?

Federal student loans are offered by the U.S. Department of Education to help students cover the cost of college. These loans typically don’t require a credit check, and they have fixed interest rates that are set each year. Federal loans have federal benefits and protections, such as deferment and forgiveness.

Private student loans are offered by private lenders, such as banks, credit unions, and online lenders. These loans require a credit check and students may need a cosigner in order to qualify. Each lender offers its own interest rates and terms. Private student loans are not eligible for federal benefits.

How do I know which type of student loan I have?

You can identify the types of federal student loans you have on the Federal Student Aid website (StudentAid.gov). Log into your account and go to the “My Loans” section of your dashboard to see a list of your student loans with information about each one, including the type of loan it is.

For private student loans, contact your loan servicer — their contact information should be listed on your monthly billing statement. You can also check your credit report (you can get a free copy from one of the three credit bureaus) for information about all your student loans, including private loans.

Can I refinance both federal and private student loans together?

Yes, you can refinance federal and private student loans together. You’ll replace your existing loans with one new private loan with new rates and terms. Just be aware that refinancing federal student loans means you’ll lose access to federal benefits like federal deferment and forgiveness. Make sure you won’t need those programs before you refinance federal student loans.

Do all student loans require a credit check?

No, most federal student loans, such as Direct Subsidized and Unsubsidized student loans, do not require a credit check. The only federal loans that require a credit check are Federal Direct PLUS Loans for graduate and professional students and parents. Private student loans do require a credit check.

Which student loan type offers the best repayment flexibility?

Federal student loans generally offer more flexible repayment options than private loans do. Borrowers with federal student loans can currently choose from income-driven repayment, student loan deferment or forbearance to temporarily postpone payments, and access to student loan forgiveness programs. Private student loans typically have limited repayment plans, though some do offer options like interest-only payments and limited deferment or forbearance.

SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.