Aug
29
2025
working on a laptop with yellow sweater

Scholarships and Grants to Pay Off Student Loans

By | Debt Payoff, Student Loans, student_loan | No Comments

If you’re grappling with monthly student loan payments, you may be wondering if there are any grants or scholarships to help you pay down your debt or even forgive some or all of it. The answer is yes. While some grants and programs are targeted to borrowers with financial need or who work in a certain field, others are open to anyone.

Read on to learn how to find “free money” to help you manage your student loan debt.

Key Points

•   Scholarships and grants can help reduce or eliminate student loan debt.

•   Federal government grants like the Pell Grant and TEACH Grant offer substantial financial support.

•   State and local grants are also available, often requiring specific service commitments.

•   Private scholarships can be sourced through various organizations and tailored to individual needs.

•   Student debt forgiveness programs remain viable, with options like Public Service Loan Forgiveness and Teacher Loan Forgiveness.

Federal Government Grants

There are a number of grant programs that are available from the U.S. Department of Education (DOE) that can help people pay off their student loans or reduce the amount of student debt they owe.

Government grants are funds given out by the federal government or other organizations that do not have to be repaid. Below are some popular grant programs you may be able to tap while you are still in school.

Federal Pell Grant

The federal Pell Grant is a financial aid program for students who are enrolled in undergraduate courses at an accredited college or university and who demonstrate exceptional financial need. It does not have to be repaid and can cover up to the full cost of attendance. The maximum F\federal Pell Grant award is $7,395 for the 2025–2026 academic year.

The new domestic policy bill that was signed into law makes some changes to the Pell Grant program starting on July 1, 2026. It expands access to these grants to individuals in short-term (8- to 15-week) job training programs, even if they already have a bachelor’s degree, and it limits eligibility access for some other students. According to the new provisions, students will be ineligible for a Pell Grant if they are receiving grant aid from other (non-federal sources), such as states, organizations, or colleges.

Teacher Education Assistance for College and Higher Education (TEACH) Grant

This program provides financial assistance to individuals pursuing an undergraduate or graduate degree in education. The TEACH Grant offers up to $4,000 per year for students enrolled in eligible educational programs at accredited universities. However, to maintain your TEACH grant, you have to work in a high-need field or at a low-income school for at least four years. If you don’t, the grant turns into a loan you must repay.

Iraq and Afghanistan Service Grant

Beginning with the 2024-2025 school year, the Iraq and Afghanistan Service Grant, which was designed to help students whose parents or guardians died due to service in Iraq or Afghanistan after September 11, 2001, is no longer being awarded, as part of the FAFSA Simplification Act. Instead, qualifying students will receive the maximum Pell Grant award.


💡 Quick Tip: Ready to refinance your student loan? With SoFi’s no-fee loans, you could save thousands.

State & Local Grants

Many states offer grants that can help residents pay off their student loans. In some cases, you need to work in a certain field and/or in an underserved area.

For example, the New York State Young Farmers Loan Forgiveness Incentive Program provides loan forgiveness awards to individuals who get an undergraduate degree from an approved New York State college or university and agree to operate a farm in the state on a full-time basis for five years.

California’s Department of Health Care Access and Information, on the other hand, offers a range of loan repayment programs for those working in the healthcare field, including doctors, therapists, dentists, and more.

No matter what field you are in, it can pay to research loan repayment opportunities in your state. This grant tool on the DOE’s website can help you find the agency that distributes education grants in your state.

Private Scholarships to Pay Off Student Debt

There are also numerous private grants and scholarships that can help you pay off your student loans. You can look for private funding options using a search engine like Fastweb, Scholarships.com, and FinAid.

To find out about scholarships that may be more under the radar, you could reach out directly to companies and organizations you have some connection to. This might include:

•   Family members’ employers and associations

•   Community service groups with whom you’ve volunteered

•   Identity/heritage groups

•   Religious communities you’re involved with

While private scholarships can be smaller monetary amounts, if you can piece together a few, you may be able to make a significant dent in your student debt.

Recommended: SoFi’s Scholarship Search Tool

Student Debt Forgiveness Programs

There are also loan forgiveness options you may want to explore.

Public Service Loan Forgiveness

If you’re employed by a government or not-for-profit organization, you might be eligible for the government’s Public Student Loan Forgiveness (PSLF) Program. The PSLF Program forgives the remaining balance on your Direct Loans after you’ve made the equivalent of 120 qualifying monthly payments under an accepted repayment plan, while working full-time for an eligible employer.

To see if your employer qualifies and to apply for the PSLF program, you can use the PSLF Tool on the DOE’s website.

If you have private student loans, you are not eligible for the PSLF program.

Income-Driven Loan Forgiveness

Income-driven repayment (IDR) plans are designed to make student loan payments more manageable by basing monthly payments on the borrower’s discretionary income and family size.

Currently, only one of these plans, the Income-Based Repayment (IBR) Plan, gives borrowers the opportunity to have the outstanding balance of their loan forgiven after 20 years of qualifying payments.

However, changes are coming to federal student loan repayment in 2026. The new U.S. domestic policy eliminates a number of repayment plans (although the IBR plan will remain open to current borrowers). For borrowers taking out their first loans on or after July 1, 2026, there will be only one repayment option that is similar to the current IDR plans: the Repayment Assistance Program (RAP).

On RAP, payments range from 1% to 10% of a borrower’s adjusted gross income for up to 30 years. At that point, any remaining debt will be forgiven. If a borrower’s monthly payment doesn’t cover the interest owed, the government will cover the interest.

Teacher Loan Forgiveness Program

The Teacher Loan Forgiveness Program will pay up to $17,500 on Federal Direct Subsidized and Unsubsidized Loans and subsidized and unsubsidized Stafford Loans. To receive this loan benefit, you must be employed as a full-time qualified teacher for five consecutive academic years at a low-income school or educational service agency.

Armed Forces Loan Payment Programs

Many branches of the United States military offer loan payment programs that can help you pay off your federal student loans. Programs include:

•   Air Force JAG Corps Loan Repayment

•   Army Student Loan Repayment

•   Army Reserve College Loan Repayment

•   National Guard Student Loan Repayment

•   Navy Student Loan Repayment

While each military loan repayment program works in a slightly different way, these grants can potentially pay off a significant portion (or even all) of your student loan debt.

Corporate Loan Repayment Grants

Your employer may provide student loan repayment help. Many companies now offer student loan repayment as a job perk. As more and more employees struggle with debt, employers have started to offer these benefit programs in order to attract and retain top-notch talent.

In some cases, a company will make regular, direct payments to your student loan servicer or lender on your behalf. In others, an employer may offer to contribute to your retirement if you put a certain percentage of your paycheck toward student loans. Wondering if your employer offers the same perks? Check with HR to see if you can take advantage of a company-wide loan repayment benefit program.

Recommended: Is an Employee’s Student Loan Repayment Benefit Taxed as Income?

Student Loan Refinancing

Another option that could potentially make your loans more affordable is student loan refinancing.

With a student loan refinance, you replace one or more of your old loans with a new loan, ideally with a lower rate or better terms. This may be helpful if you have strong credit (or a student loan cosigner who does), since it might qualify you for a lower interest rate. In addition, you could choose a shorter repayment term to get out of debt faster.

You can refinance both federal and private student loans. Keep in mind, however, that refinancing federal student loans can result in a loss of certain borrower protections, such as student loan forgiveness and deferment. Because of this, you’ll want to consider the potential downsides of refinancing before making changes to your debt.

The Takeaway

While you may think of grants as a way to help finance your education while you are in school, there are grants (as well as scholarships and other programs) that can also help you repay your student loans. Options include federal and state programs, private/corporate grants, and federal loan forgiveness and repayment plans. Another option that could potentially make student repayment more manageable is refinancing.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.


With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

Can you use scholarship money to pay off debt?

It depends. While many scholarships are designed solely to cover students’ education expenses while they are in school, there are scholarships available specifically to help borrowers pay off student loan debt. You can use an online search tool like Scholarships.com to help locate them. In addition, check with your employer and any organizations, community service groups, and religious groups you are associated with to see if they offer such scholarships

How do you pay off student loan debt when you can’t afford to pay it?

If you can’t afford your student loan payments, there are a number of strategies that could help. For example, you could switch to an income-driven repayment plan that bases your payments on your discretionary income and salary. Also check into student loan forgiveness programs — as well as state, local, and private grants that are designed to help pay off student loan debt — to see what you might qualify for. Find out if your employer offers student loan repayment as an employee benefit. Finally, another option to consider is student loan refinancing, which could give you a loan with a lower interest rate if you qualify, and potentially reduce your payments.

How do I get student loan forgiveness?

To get student loan forgiveness, explore the different options to see what you could be eligible for. Federal student loan forgiveness options include the Public Service Loan Forgiveness Program for those who work in eligible public service jobs and meet other specific criteria, Teacher Loan Forgiveness Program for educators who fulfill certain requirements, and military forgiveness programs for eligible members of the armed forces. You may also be able to get student loan forgiveness through an income-driven repayment plan for your federal loans.

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 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.


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.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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 Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

SOSLR-Q325-050

Read more
Aug
29
2025

Market Capitalization: Definition, What It Tells You, Formula

By | Growing Wealth, invest, Investing, Terminology | Comments Off on Market Capitalization: Definition, What It Tells You, Formula

Market capitalization (market cap) is a basic formula that multiplies a company’s current price per share by the number of outstanding shares to get the total value of its equity.

A company’s market capitalization, or market cap, provides a useful measure of its size and value, versus revenue or sales figures. Knowing what the market cap is for a given company can help investors compare it to other companies of a similar size.

Note that the market cap (the value of a company’s total equity) is different from a company’s market value, which is a more complex calculation based on various metrics, including return-on-equity, price-to-earnings, and more.

Key Points

•   Market capitalization (market cap) refers to the total market value of a company’s outstanding shares and provides a measure of its size and value.

•   Market cap can be calculated by multiplying the current price per share by the number of outstanding shares.

•   Market cap helps investors compare companies of similar size in order to evaluate the potential risk and reward.

•   Companies are categorized into small-cap, mid-cap, large-cap, and mega-cap based on their market cap range.

•   Smaller companies (nano-cap and micro-cap) can be riskier, but offer growth opportunities, while larger companies (large-cap and mega-cap) tend to be more stable.

What Is Market Capitalization?

A company’s market cap, or market capitalization, is the total dollar value of its outstanding shares. Outstanding shares simply refers to the amount of stock that has been issued by the company and is held by shareholders.

Market-Cap Categories

Analysts, as well as index and exchange-traded fund (ETF) providers, commonly sort stocks into small-, mid-, and large-cap stocks, though some include a broader range that goes from micro- or nano-cap stocks all the way to mega cap on the other end.

Understanding the market capitalization for different stocks and funds can help investors evaluate risk and performance when investing online or through a traditional brokerage.

The size criteria for these categories can change depending on market conditions but here are some basic parameters.

Nano-Cap and Micro-Cap Stocks

Nano- and micro-cap companies are those with a total market capitalization under $300 million. Some define nano-cap stocks as those under $50 million, and micro-cap stocks as those between $50 million and $300 million.

These smaller companies can be riskier than large-cap companies (though not always). Many microcap stocks trade over-the-counter (OTC). Over-the-counter stocks are not traded on a public exchange like the New York Stock Exchange (NYSE) or Nasdaq. Instead, these stocks are traded through a broker-dealer network.

As a result there may be less information available about these companies, which can make them difficult to assess in light of certain risk and performance factors.

Small-Cap Stocks

Small-cap companies are considered to be in the $300 million to $2 billion range. They are generally younger and faster-growing than large-cap stocks. Investors often look to small-caps for growth opportunities.

While small-cap companies have historically outperformed large-caps, these stocks can also be more risky, and may require more due diligence from would-be investors.

Mid-Cap Stocks

Mid-cap companies lie between small- and large-cap companies, with market caps of $2 billion to $10 billion.

When investing in stocks, investors may find mid-cap companies attractive because they can offer some of the growth potential of small-caps with some of the maturity of large-caps.

But mid-cap stocks likewise can share some of the downsides of those two categories, being somewhat vulnerable to competition in some cases, or lacking the impetus to expand in others.

Large-Cap Stocks

Large-cap stocks are those valued between $10 billion and $200 billion, roughly. Large-cap companies tend not to offer the same kind of growth as small- and mid-cap companies. But what they may lack in performance they can deliver in terms of stability.

These are the companies that tend to be more well established, less vulnerable to sudden market shocks (and less likely to collapse). Some investors use large-cap stocks as a hedge against riskier investments.

Mega-Cap Stocks

Mega cap describes the largest publicly traded companies based on their market capitalization. Mega cap stocks typically include industry-leading companies with highly recognizable brands with valuations above $200 billion.

Recommended: Investing 101 Guide

Get up to $1,000 in stock when you fund a new Active Invest account.*

Access stock trading, options, alternative investments, IRAs, and more. Get started in just a few minutes.

*Customer must fund their Active Invest account with at least $50 within 45 days of opening the account. Probability of customer receiving $1,000 is 0.026%. See full terms and conditions.

How to Calculate Market Cap

To figure out a company’s market cap, simply multiply the number of outstanding shares by the current price per share. If a company has 10 million outstanding shares of stock selling for $30 per share, the company’s market cap is $300 million.

Share prices fluctuate constantly, and as a result, so does market cap. You should be able to find the number of outstanding shares listed on a company’s balance sheet, where it’s referred to as “capital stock.” Companies update this number on their quarterly filings with the Securities and Exchange Commission (SEC).

Market Cap Formula

The formula for determining a company’s market cap is fairly simple:

Current price per share x Total # of outstanding shares = Market capitalization

Remember that the share price doesn’t determine the size of the company or vice versa. When measuring market cap you always have to look at the share price multiplied by the number of outstanding shares.

•   Company A could be worth $100 per share, and have 50,000 shares outstanding, for a total market cap of $5 million.

•   Company B could be worth $25 per share, and have 20 million shares outstanding, for a total market cap of $500 million.

Market Cap and Number of Shares

In some cases, market cap can change if the number of stocks increases or decreases. For example, a company may issue new stock or even buy back stock. When a company issues new shares, the stock price may dip as investors worry about dilution.

Stock splits do not increase market share, because the price of the stock is also split proportionally.

Changes to the number of shares are relatively rare, however. More commonly, investors will notice that changes in share price have the most frequent impact on changing market cap.

Market Cap vs Stock Price

While the share price of a company tells you how much it costs to own a piece of the company, it doesn’t really give you any hints as to the size of the company or how much the company is worth.

Market cap, on the other hand, can reveal how a particular stock might behave. For example, large companies may be more stable and experience less volatility than their smaller counterparts.

Recommended: Intrinsic Value vs. Market Value

Evaluate Stocks Using Market Cap

Understanding the market cap of a company can help investors evaluate the company in the context of other companies of similar size.

For instance, market cap can clue investors into stocks’ potential risk and reward, in part because the size of a company can be related to where that company is in its business development.

Investors can also evaluate how a company is doing by comparing its performance to an index that tracks other companies of a similar size, a process known as benchmarking.

•   The S&P 500, a common benchmark, is a market-cap weighted index of the 500 largest publicly traded U.S. companies.

•   The S&P MidCap 400, for example, is a market-cap weighted index that tracks mid-cap stocks.

•   The Russell 2000 is a common benchmark index for small cap stocks.

Within this system, companies with higher market cap make up a greater proportion of the index. You may often hear the S&P 500 used as a proxy for how the stock market is doing on the whole.

What Market Cap Can Tell You

Here are some characteristics of larger market-cap companies versus smaller-cap stocks:

Volatility: Larger companies, some of which are considered blue-chip stocks, tend to be less volatile than smaller stocks, and tend to offer steady returns.

Revenue: Larger stocks tend to have more international exposure when it comes to their sales and revenue streams. Meanwhile, smaller stocks can be more oriented to the domestic economy.

Growth: Smaller companies tend to have better odds of offering faster growth.

Valuation: Larger stocks tend to be more expensive than smaller ones and have higher valuations when it comes to metrics like price-to-earnings ratios.

Dividends: Many investors are also drawn to large cap stocks because companies of this size frequently pay out dividends. When reinvested, these dividends can be a powerful driver of growth inside investor portfolios.

Market Cap and Diversification

So how do you use market cap to help build a portfolio? Market cap can help you choose stocks that could help you diversify your portfolio.

Building a diversified portfolio made up of a broad mix of investments is a strategy that can help mitigate risk.

That’s because different types of investments perform differently over time and depending on market conditions. This idea applies to stock from companies of varying sizes, as well. Depending on market conditions, small-, medium-, and large-cap companies could each beat the market or trail behind.

Because large-cap companies tend to have more international exposure, they might be doing well when the global economy is showing signs of strength. On the flip side, because small-cap companies tend to have greater domestic exposure, they might do well when the U.S. economy is expected to be robust.

Meanwhile, larger-cap companies could also outperform when there’s a downturn, because they may have more cash at hand and prove to be resilient. In recent years, the biggest companies in the U.S. have been linked to technology. Therefore, picking by market cap can have an impact on what kind of sectors are in an investor’s portfolio as well.

What Is Free-Float Market Cap?

Float is the number of outstanding shares that are available for trading by the public. Therefore, free-float market cap is calculating market cap but excluding locked-in shares, typically those held by company executives.

For example, it’s common for companies to provide employees with stock options or restricted stock units as part of their compensation package. These become available to employees according to a vesting schedule. Before vesting, employees typically don’t have access to these shares and can’t sell them on the open market.

The free-float method of calculating market cap excludes shares that are not available on the open market, such as those that were awarded as part of compensation packages. As a result, the free-float calculation can be much smaller than the full market cap calculation.

However, this method could be considered to be a better way to understand market cap because it provides a more accurate representation of the movement of stocks that are currently in play.

Market Cap vs Enterprise Value

While market cap is the total value of shares outstanding, enterprise value includes any debt that the company has. Enterprise value also looks at the whole value of a company, rather than just the equity value.

Here is the formula for enterprise value (EV):

Market cap + market value of debt – cash and equivalents.

A more extended version of EV is here:

Common shares + preferred shares + market value of debt + minority interest – cash and equivalents.

The Takeaway

Market capitalization is a common way that analysts and investors describe the value and size of different companies. Market cap is simply the price per share multiplied by the number of outstanding shares. Given that prices fluctuate constantly, so does the market cap of each company, but the parameters are broad enough that investors can generally gauge a company’s market capitalization in order to factor it into their investing strategy.

Invest in what matters most to you with SoFi Active Invest. In a self-directed account provided by SoFi Securities, you can trade stocks, exchange-traded funds (ETFs), mutual funds, alternative funds, options, and more — all while paying $0 commission on every trade. Other fees may apply. Whether you want to trade after-hours or manage your portfolio using real-time stock insights and analyst ratings, you can invest your way in SoFi's easy-to-use mobile app.


Invest with as little as $5 with a SoFi Active Investing account.

FAQ

What is the maximum market cap?

In theory there is no cap on market cap; i.e., there is no maximum size a company can be. As of Aug. 20, 2025, the top five biggest companies by market cap, according to Motley Fool, are: Nvidia ($4.24 trillion), Microsoft ($3.90 trillion), Apple ($3.02 trillion), Alphabet (Google) ($2.30 trillion), Amazon ($2.28 trillion).

How does market cap go up?

A company’s market cap can grow if the share price goes up.

Are large-cap stocks good?

The market cap of any company is neither good nor bad; it’s simply a way to measure the company’s size and value relative to other companies in the same sector or industry. You can have mega-cap companies that underperform and micro-cap companies that outperform.

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

SoFi Invest is a trade name used by SoFi Wealth LLC and SoFi Securities LLC offering investment products and services. Robo investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser. Brokerage and self-directed investing products offered through SoFi Securities LLC, Member FINRA/SIPC.

For disclosures on SoFi Invest platforms visit SoFi.com/legal. For a full listing of the fees associated with Sofi Invest please view our fee schedule.

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.

Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or by emailing customer service at [email protected]. Please read the prospectus carefully prior to investing.

Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.

S&P 500 Index: The S&P 500 Index is a market-capitalization-weighted index of 500 leading publicly traded companies in the U.S. It is not an investment product, but a measure of U.S. equity performance. Historical performance of the S&P 500 Index does not guarantee similar results in the future. The historical return of the S&P 500 Index shown does not include the reinvestment of dividends or account for investment fees, expenses, or taxes, which would reduce actual returns.
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.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

SOIN-Q325-115

Read more
Aug
29
2025
How to Get Involved on Campus in College_780x440

How To Get Involved On Campus in College

By | Student Loans, student_loan | Comments Off on How To Get Involved On Campus in College

Whether you’re living on campus or commuting to school, college is a time to experiment with independence. College students can choose their own classes, make their own friends, and decorate their dorms according to their own styles. And while exploring diverse areas of study and deepening intellectual curiosity is a pivotal element of the college experience, it’s only one aspect of those four significant years.

College is also a period to define one’s life outside of academia and get involved on campus. On-campus activities are one of the most important elements of a college experience, helping students to get to know themselves and others, build a community, and develop long-term skills.

From clubs and sports teams to jobs and volunteer work, there are countless ways to play a part in campus life and explore new areas of interest. Keep reading to learn more on how to get involved on campus in college.

Table of Contents

Key Points

•  Attending orientation events helps new students learn about campus clubs and activities.

•  Joining clubs, sports, or campus media helps students form connections and build a supportive social circle.

•  Find groups that match your interests to meet like-minded peers and develop leadership skills.

•  Participate in community service projects to give back and gain valuable experience.

•  Campus involvement can lead to long-term career opportunities and personal development.

Getting Involved On Campus

As a new student, one way to see what the school has to offer for extracurriculars is to attend a student activity fair. This can be an opportunity for students to survey the different activities and clubs on campus and talk to current members about what they do and the types of time commitments involved.

Here are some other ideas for how college students can get involved on campus.


💡 Quick Tip: When shopping for a private student loan lender, look for benefits that help lower your monthly payment.

Assess Current Interests and Skills

Many students may have already begun to take part in extracurricular activities during their high school years. Perhaps they were on a sports team, took part in Model UN, or were part of the school choir.

Students will find that many universities offer continuation of the activities they were involved with in high school, though they will generally have to reapply or audition.

Even if a student-athlete doesn’t make it onto a college varsity team, they can try out a club sport instead. Larger schools may have more varied clubs and activities, but smaller schools will offer more opportunities for students to have their voices heard.

There may be less competition to make it into a school play, for example. Whatever size a school is, there are ways to get involved and continue to develop skills cultivated during high school.

Recommended: 12 Ways a College Athlete Can Make Money

Find a New Hobby

College extracurriculars can also be a great way to experiment with new interests, whether a student has long had the desire to explore an area, or is simply intrigued by a new idea.

Most colleges have activity fairs early on in the school year as a way for clubs and groups to advertise to new students. This is a wonderful way for students to find out what clubs are available, and to get to meet the students who are already involved.

Students may get overzealous and sign up for too many clubs and activities at first, so it’s important to assess which of these pursuits are worth sticking with and which can be politely left behind.

Flex Your Inner Athlete

Playing a college sport, whether it’s trying out for varsity or joining an intramural team, can be a great way to get involved. The community that’s fostered through team sports is perhaps unmatched among other college activities, with athletes spending multiple days a week in practice, at games, and socializing off the field.

Physical activity can be one effective way to combat depression, which is on the rise among college students. If a sports team is too much of a commitment, a dance or yoga class can be a good way to meet people and stay in shape, or simply hitting the college gym.

Recommended: Balancing Being a Student Athlete & Academics in College

Get Creative

Students interested in creative expression will find a wide range of ways to get involved on campus. Trying out for a college play, auditioning for an acapella group, or joining the jazz band are great ways to meet other students and explore one’s artistic side.

College theater clubs and musical groups allow students to invest in a meaningful project and ultimately perform for their campus communities and can help improve a student’s sense of confidence and self-worth.

Visual artists may want to join a figure drawing group, and writers may be interested in joining a creative writing or poetry workshop with their peers outside of class. There are countless ways to tap into the creative bug on campus and perhaps even discover a new artistic interest to pursue beyond university.

Recommended: 3 Summer Jobs Ideas for College Students

Go Greek

For some students, Greek life forms the backbone of their social lives during college. Rush or recruitment events for fraternities and sororities provide an array of activities for potential members in an attempt to draw students to their particular organization. Pledging will take up much of a student’s time as well before they finally join the ranks of their house.

Once involved in Greek life, students often find a built-in community waiting for them. Sororities and fraternities often sponsor campus-wide events and parties or facilitate volunteer opportunities for members.

While Greek life is a great way to build friendships on-campus, it can be all-encompassing at times. It’s important for students to be able to strike the right balance between their fraternity or sorority and the rest of their lives on campus, including their classes.

If a student is interested in joining a social club that’s not Greek, or the school they are attending does not have Greek life, there may be other social clubs offered.


💡 Quick Tip: Need a private student loan to cover your school bills? Because approval for a private student loan is based on creditworthiness, a cosigner may help a student get loan approval and a lower rate.

Try Your Hand in Media

Most colleges and universities have student-run newspapers, magazines, radio, and TV stations. Participating in one of these media organizations can be a great opportunity to meet students and get acclimated to the campus.

Joining the school newspaper will allow students to explore their campus from the inside out, researching topics that affect the community and publishing their work.

Writing for a literary magazine is also a wonderful way to get involved, with students being able to help solicit work and screen submissions.

College radio stations are also a classic staple of campuses — running a radio show, whether it’s talk radio or playing a certain genre of music — is a wonderful way to connect with the community, even if you’re doing it via radio wave.

Recommended: 6 Reasons to Go to College

The Takeaway

Getting involved on campus helps students build community, maintain a sense of productivity and accomplishment, and explore potential career avenues. The connections made through on-campus activities can be the most enduring of one’s college career since they’re often based on the passions a student will continue to enjoy after graduation.

While getting involved in multiple on-campus activities can be highly beneficial to any student, it’s important to balance extracurriculars and academic work, making sure to allot the proper amount of time for studying so that one’s interests outside of class don’t eclipse everything else.

Another aspect of a successful college career is figuring out how to cover the cost of your education. Options include cash savings, scholarships, grants, federal student loans, and 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.


Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

What is one way to get involved on a college campus?

One way to get involved on a college campus is to join a student club or organization that aligns with your interests, such as a sports team, academic society, cultural group, or volunteer club. This provides opportunities for social interaction, skill development, and personal growth.

What counts as campus involvement?

Campus involvement includes joining clubs and organizations, attending events, participating in sports or intramural activities, volunteering, attending workshops or seminars, and engaging in student government. It also involves attending lectures, joining study groups, and participating in cultural or social activities on campus.

Why is it important to be involved on my college campus?

Being involved on your college campus helps you build a sense of community, develop leadership skills, and create lasting friendships. It also enhances your resume, provides networking opportunities, and makes your college experience more fulfilling and enjoyable.


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.


Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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.

SOISL-Q325-078

Read more
Aug
28
2025
Average Student Loan Debt by State

Average Student Loan Debt by State in 2025

By | Going to College, Student Loans, student_loan | Comments Off on Average Student Loan Debt by State in 2025

Student loan debt nationwide currently totals $1.813 trillion (including federal and private student loans) as of the second quarter of 2025, according to the Federal Reserve. Among the 50 U.S. states plus the District of Columbia and Puerto Rico, the average federal student loan debt totals are $30.4 billion per state, according to the latest information from the Education Data Initiative (EDI).

Nearly 43 million borrowers in the U.S. have student loan debt. The average federal student loan debt balance per borrower is $39,075 while the total average balance (including private student loans) is estimated to be $42,673, according to EDI.

A recent report from EDI details the average student loan debt by state based on the average debt per borrower (based on federal student loans only) in each state. Overall, residents of the District of Columbia, have the highest student loan debt, averaging $54,561 per borrower. North Dakota residents’ have the lowest average student debt by state, with an average per borrower of $29,115.

Read on to learn more about the average student debt by state and how it may affect you.

Key Points

•   Student loan debt in the U.S. increased over 500% from 2004 to 2023.

•   Student loan debt is the second-largest source of household debt in the U.S., after mortgages.

•   The highest average student loan debt per borrower in 2025 is $54,561 in the District of Columbia.

•   North Dakota has the lowest average student loan debt per borrower in 2025 at $29,115.

•   Regional differences in student loan debt are influenced by such factors as cost of living, population age, college tuition, and state grant programs.

In the last decade, student loan debt has grown faster than other sources of household debt. But not all average student debt by state is equal. Some areas of the country face higher amounts of student loan debt than others.

Rising Debt and Regional Differences

Between 2004 and 2023, student loan debt rose over 500%. It is now the second-largest source of household debt after mortgages, according to the Federal Reserve of St. Louis.

However, there are regional differences in student loan debt that can have an impact on the economy in that area. States with higher costs of living such as California and New York tend to have more student loan debt. Regions of the country with younger populations, such as Utah and Texas, may have higher average student loan debt by state because more people are college age and borrowing undergraduate student loans. And the higher cost of tuition of colleges in certain regions, such as Vermont, Connecticut, and New Hampshire, can correlate to higher student loan debt in the region.

Overall, the Northeast has the highest amount of median student loan debt, while the South and West have the least, based on the latest data from the U.S. Census Bureau.

Recommended: How Do Student Loans Work?


💡 Quick Tip: Often, the main goal of refinancing is to lower the interest rate on your student loans — federal and/or private — by taking out one loan with a new rate to replace your existing loans. Refinancing may make sense if you qualify for a lower rate and you don’t plan to use federal repayment programs or protections. Note that refinancing with a longer term can increase your total interest charges.

Student Loan Debt in Each State

For an overview of what the average student loan debt by state looks like across the country, here’s a state-by-state guide, according to the Education Data Initiative.

Note that this information is for federal student loan debt only; private student loans, which represent 8.43% of all student debt, are not reflected.

Alabama

Average borrower debt: $37,819

Total student loan debt: $24.9 billion

Everything you need to know about student loans & scholarships in Alabama

Alaska

Average borrower debt: $35,874

Total student loan debt: $2.4 billion

Everything you need to know about student loans & scholarships in Alaska

Arizona

Average borrower debt: $35,792

Total student loan debt: $32.9 billion

Everything you need to know about student loans & scholarships in Arizona

Arkansas

Average borrower debt: $34,024

Total student loan debt: $13.8 billion

Everything you need to know about student loans & scholarships in Arkansas

California

Average borrower debt: $38,300

Total student loan debt: $151.5 billion

Everything you need to know about student loans & scholarships in California

Colorado

Average borrower debt: $37,393

Total student loan debt: $29.2 billion

Everything you need to know about student loans & scholarships in Colorado

Connecticut

Average borrower debt: $36,837

Total student loan debt: $19.1 billion

Everything you need to know about student loans & scholarships in Connecticut

Delaware

Average borrower debt: $38,856

Total student loan debt: $5.3 billion

Everything you need to know about student loans & scholarships in Delaware

District of Columbia

Average borrower debt: $54,561

Total student loan debt: $6.4 billion

Everything you need to know about student loans & scholarships in Washington D.C.

Florida

Average borrower debt: $39,574

Total student loan debt: $108.1 billion

Everything you need to know about student loans & scholarships in Florida

Georgia

Average borrower debt: $42,226

Total student loan debt: $71.7 billion

Everything you need to know about student loans & scholarships in Georgia

Hawaii

Average borrower debt: $38,929

Total student loan debt: $4.8 billion

Everything you need to know about student loans & scholarships in Hawaii

Idaho

Average borrower debt: $33,621

Total student loan debt: $7.4 billion

Everything you need to know about student loans & scholarships in Idaho

Illinois

Average borrower debt: $39,042

Total student loan debt: $63.4 billion

Everything you need to know about student loans & scholarships in Illinois

Indiana

Average borrower debt: $33,234

Total student loan debt: $30.1 billion

Everything you need to know about student loans & scholarships in Indiana

Iowa

Average borrower debt: $30,698

Total student loan debt: $13.2 billion

Everything you need to know about student loans & scholarships in Iowa

Kansas

Average borrower debt: $33,031

Total student loan debt: $12.7 billion

Everything you need to know about student loans & scholarships in Kansas

Kentucky

Average borrower debt: $33,691

Total student loan debt: $20.7 billion

Everything you need to know about student loans & scholarships in Kentucky

Louisiana

Average borrower debt: $34,821

Total student loan debt: $23.8 billion

Everything you need to know about student loans & scholarships in Louisiana

Maine

Average borrower debt: $34,355

Total student loan debt: $6.5 billion

Everything you need to know about student loans & scholarships in Maine

Maryland

Average borrower debt: $43,781

Total student loan debt: $37.1 billion

Everything you need to know about student loans & scholarships in Maryland

Massachusetts

Average borrower debt: $35,400

Total student loan debt: $32.6 billion

Everything you need to know about student loans & scholarships in Massachusetts

Michigan

Average borrower debt: $36,973

Total student loan debt: $51.6 billion

Everything you need to know about student loans & scholarships in Michigan

Minnesota

Average borrower debt: $34,163

Total student loan debt: $26.9 billion

Everything you need to know about student loans & scholarships in Minnesota

Mississippi

Average borrower debt: $37,552

Total student loan debt: $17.0 billion

Everything you need to know about student loans & scholarships in Mississippi

Missouri

Average borrower debt: $35,650

Total student loan debt: $29.7 billion

Everything you need to know about student loans & scholarships in Missouri

Montana

Average borrower debt: $33,215

Total student loan debt: $4.4 billion

Everything you need to know about student loans & scholarships in Montana

Nebraska

Average borrower debt: $32,206

Total student loan debt: $8.0 billion

Everything you need to know about student loans & scholarships in Nebraska

Nevada

Average borrower debt: $34,756

Total student loan debt: $12.7 billion

Everything you need to know about student loans & scholarships in Nevada

New Hampshire

Average borrower debt: $34,860

Total student loan debt: $6.7 billion

Everything you need to know about student loans & scholarships in New Hampshire

New Jersey

Average borrower debt: $37,287

Total student loan debt: $46.5 billion

Everything you need to know about student loans & scholarships in New Jersey

New Mexico

Average borrower debt: $34,246

Total student loan debt: $7.8 billion

Everything you need to know about student loans & scholarships in New Mexico

New York

Average borrower debt: $38,751

Total student loan debt: $96.3 billion

Everything you need to know about student loans & scholarships in New York

North Carolina

Average borrower debt: $38,929

Total student loan debt: $53.5 billion

Everything you need to know about student loans & scholarships in North Carolina

North Dakota

Average borrower debt: $29,115

Total student loan debt: $2.6 billion

Everything you need to know about student loans & scholarships in North Dakota

Ohio

Average borrower debt: $35,072

Total student loan debt: $62.6 billion

Everything you need to know about student loans & scholarships in Ohio

Oklahoma

Average borrower debt: $32,245

Total student loan debt: $16.4 billion

Everything you need to know about student loans & scholarships in Oklahoma

Oregon

Average borrower debt: $38,036

Total student loan debt: $20.3 billion

Everything you need to know about student loans & scholarships in Oregon

Pennsylvania

Average borrower debt: $36,120

Total student loan debt: $67.4 billion

Everything you need to know about student loans & scholarships in Pennsylvania

Rhode Island

Average borrower debt: $33,400

Total student loan debt: $5.0 billion

Everything you need to know about student loans & scholarships in Rhode Island

South Carolina

Average borrower debt: $38,715

Total student loan debt: $30.0 billion

Everything you need to know about student loans & scholarships in South Carolina

South Dakota

Average borrower debt: $31,171

Total student loan debt: $3.7 billion

Everything you need to know about student loans & scholarships in South Dakota

Tennessee

Average borrower debt: $37,054

Total student loan debt: $33.1 billion

Everything you need to know about student loans & scholarships in Tennessee

Texas

Average borrower debt: $33,770

Total student loan debt: $131.9 billion

Everything you need to know about student loans & scholarships in Texas

Utah

Average borrower debt: $33,872

Total student loan debt: $10.9 billion

Everything you need to know about student loans & scholarships in Utah

Vermont

Average borrower debt: $37,760

Total student loan debt: $2.9 billion

Everything you need to know about student loans & scholarships in Vermont

Virginia

Average borrower debt: $40,287

Total student loan debt: $44.3 billion

Everything you need to know about student loans & scholarships in Virginia

Washington

Average borrower debt: $36,709

Total student loan debt: $29.0 billion

Everything you need to know about student loans & scholarships in Washington

West Virginia

Average borrower debt: $32,343

Total student loan debt: $7.7 billion

Everything you need to know about student loans & scholarships in West Virginia

Wisconsin

Average borrower debt: $32,619

Total student loan debt: $23.6 billion

Everything you need to know about student loans & scholarships in Wisconsin

Wyoming

Average borrower debt: $30,631

Total student loan debt: $1.7 billion

Everything you need to know about student loans & scholarships in Wyoming

💡 Quick Tip: When rates are low, refinancing student loans could make a lot of sense. How much could you save? Find out using our student loan refi calculator.

How to Use This Data

For students who are preparing to go to college it’s helpful to know the amount of student loan debt they might be facing, based on the average student debt of residents in their state, as well as the state’s total student loan debt.

Planning for College Costs

As prospective students evaluate colleges they might attend, knowing a state’s total student loan debt can provide an idea of how affordable attending school in that state might be. For example, if a state’s student loan debt is high, that might signal higher tuition costs, less access to scholarships and grants, and students having to borrow more student loans in that state.

Conversely, states with a lower total student loan debt may have more generous state-specific financial aid programs or lower in-state tuition for residents. It’s also possible the residents of that state don’t have to borrow as much to attend college.

Either way, once you know a state’s student loan debt, as well as the average borrowers’ debt in that state, you can more thoroughly research the college costs in that area to get a sense of how much you might need to borrow in student loans — whether you are an undergrad or you’re looking to take out graduate student loans.

Understanding Local Economic Impacts

Student loan debt affects not only borrowers, but also local economies. The impact of student debt on the economy can be significant. For example, areas with higher student loan debt may have lower rates of homeownership because borrowers can’t afford downpayments. As a result, there may be a bigger demand for rentals, which can drive up the cost of rent for everyone, including college students.

Student loan debt can also reduce consumer spending, which can slow an area’s economic growth. It can also inhibit the area’s labor market and the wages employees earn. For students thinking about going to college in that area and getting a part-time job to help pay school costs, the vitality of local business and the opportunity for employment can be important considerations.

The Takeaway

The average amount of debt held by borrowers varies from state to state. Residents of the District of Columbia have the highest amount of debt, averaging $54,561 per borrower. North Dakota residents’ have the lowest student loan debt, with an average per borrower of $29,115. In fact, North Dakota is the only state where the average borrower owes less than $30,000.

For millions, student loans and student loan refinancing are a necessary part of paying for college. When federal aid and savings aren’t enough to pay for school, some borrowers turn to private student loans, which are available from banks, credit unions, and online lenders. While private lenders are not required to offer the same benefits or protections as federal student loans, they can be helpful for borrowers who have tapped other resources and are looking to fill in gaps in funding. And one thing to keep in mind is that a borrower can refinance these loans in the future, when they might qualify for a lower interest rate or more favorable terms.

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.


Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

What state has the highest average student loan debt?

The state with the highest amount of student loan debt is California, with a total student loan debt of $151.5 billion. However, the District of Columbia has the highest average student loan debt per borrower: $54,561.

What state has the lowest student loan debt?

The state with the lowest student loan debt is Wyoming, with a total student loan debt of $1.7 billion. The state of North Dakota has the lowest average student loan debt per borrower, which is $29,115.

Why does student loan debt vary so much by state?

Costs and population of states can affect student loan debt and cause it to vary from state to state. For instance, states with higher costs of living such as California and New York tend to also have more student loan debt. States with younger populations, such as Utah and Texas, may have higher debt because more people are college age and borrowing student loans. And the higher cost of college tuition in certain states, such as Vermont, Connecticut, and New Hampshire in New England, can correlate to higher student loan debt in the state.

How does the cost of college in each state affect student loan amounts?

States with public and private universities with higher tuition and fees tend to have higher student loan debt per borrower. And states with fewer state grant programs may also increase borrower’s reliance on student loans.

Can state-based loan forgiveness programs reduce debt burdens?

Yes, state-based student loan forgiveness programs can help reduce borrowers’ debt burdens. For some borrowers, these programs can help them reduce their debt or even eliminate it, depending on the program. Many states have programs for professions in high demand such as teachers, doctors and other healthcare workers, and those who work in public service. Not every state has these programs, but many do. Check with your state to see if there is a student loan forgiveness program you may be eligible for.

Photo credit: iStock/FangXiaNuo

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.


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.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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 Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

SOSLR-Q325-022

Read more
Aug
28
2025
pencils with graduation cap mobile

20 of the Most Popular College Majors

By | Student Loans, student_loan | Comments Off on 20 of the Most Popular College Majors

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.

Key Points

•   Knowing popular college majors can be helpful to undecided students.

•   Common majors include business- and health-oriented majors, among others.

•   Business and management are popular since they offer diverse postgrad options.

•   Nursing faces a growing demand for qualified graduates, as do other health-related professions.

•   Computer science is among the highest-paying majors.

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.


Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

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.

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.


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).

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.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

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.

SOISL-Q325-101

Read more
Close modal

See what SoFi can do for you and your finances.

Select a product below and get your rate in just minutes.

Student Loan
Refinancing

Personal
Loans

Online
Investments

Other

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2023 was around $33K. Information current as of 2/26/24. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.

✝ 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.

©2026 Social Finance, LLC All rights reserved.
TLS 1.2 Encrypted
Equal Housing Lender