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Approximately 61% of college graduates have student loan debt, according to data from the National Center for Education Statistics, and most of that money owed (more than 90%) is in the form of federal student loans. In other words, if you have student debt, you are not alone.

Federal student loan programs are funded by the federal government, and while virtually no one likes being in debt, there’s an upside here. These programs can not only help you pay for college but also repay what you owe in different ways, to suit your particular situation.

In this guide, you’ll learn about the types of federal student loans available and the tactics federal student loan borrowers can use to eliminate their debt. There’s likely to be a plan that helps you balance your budget and enjoy life while paying off what you owe.

Types of Federal Student Loans

The types of federal student loans include the following. The federal student loan program includes the Direct Loan program, and the Direct Subsidized, Unsubsidized, PLUS, and Consolidated loans exist under that umbrella.

•   Direct Subsidized loans: Direct Subsidized loans help undergraduate students (who are eligible and demonstrate financial need) cover the education costs. In terms of when the interest accrues, that doesn’t happen while you are in school at least half-time or during deferment.

•   Direct Unsubsidized loans: Direct Unsubsidized loans, on the other hand, help undergraduate, graduate, and professional students cover the costs of education. These loans are not need-based, but the government does not cover the interest while you’re in school.

•   Direct PLUS loans: Graduate or professional students and parents of dependent undergraduate students can get Direct PLUS loans. You do not have to demonstrate financial need to get a Direct PLUS loan, but you must undergo a credit check.

•   Direct Consolidation loans: Direct Consolidation loans let you combine your eligible federal student loans into a single loan with a single loan servicer. This helps reduce the complexity of paying on multiple loans.

How do you get a federal student loan? You file the Free Application for Federal Student Aid (FAFSA), and as long as you’re eligible for federal student aid, the financial aid will appear on your financial aid package at the school you apply for.


💡 Quick Tip: Ready to refinance your student loan? You could save thousands.

Federal Programs for Student Loan Borrowers

Among the federal programs for student loan borrowers are government grants and tax deductions, as well as federal student loan programs that can help with repayment. Among these are income-driven repayment plans, deferment and forbearance, and forgiveness. Here’s a closer look at some of your potential options as you pay off student loans (yes, you will make it happen).

1. Government Grants

Federal grants can also help cover college costs for students attending college or career school. You don’t have to pay back grant money unless you fail to meet the qualifications for the grant. (In this way, they aren’t repayment plans but coverage of educational costs upfront.)

For example, you may be able to take advantage of a Pell Grant or a Teacher Education Assistance for College and Higher Education (TEACH) grant.

•   Pell Grant: The Pell Grant is a need-based grant awarded by the US Department of Education to undergraduate students with high financial need. The Federal Pell Grant maximum is $7,395 for the 2023-2024 award year between July 1, 2023 and June 30, 2024.

•   TEACH Grant: The TEACH Grant offers funds to students who plan to teach full-time for at least four years in a high-need field. They must meet the service obligation after graduation. For example, they must work in a low-income elementary school, secondary school, or educational service agency.

2. Income-Driven Repayment Plans

When it comes time to pay off federal student loans, the Department of Education has the following income-driven repayment plans, which aim to keep student loan payments at a comfortable level:

•   Saving on a Valuable Education (SAVE) plan: The SAVE plan, which replaces the REPAYE plan, calculates your monthly payment amount based on your family size and income. It offers the possibility of forgiveness in as little as 10 years for some borrowers, and the payment cap is 10% of discretionary income and that may drop to 5% for some from the summer of 2024 onward.

•   Pay As You Earn (PAYE) Repayment plan: The PAYE plan means your monthly payments equal to 10% of your discretionary income, divided by 12. It will never amount to more in payments than the 10-year Standard Repayment plan amount. Expect a 20-year term.

•   Income-Based Repayment (IBR) plan: The IBR plan means your monthly payments are equal to 10% (15% if you’re an older borrower whose loans date to before July 1, 2014) of your discretionary income. Repayment terms are 20 years for new borrowers; 25 years for older borrowers.

•   Income-Contingent Repayment (ICR) plan: The ICR plan means you’ll make monthly payments — the lesser of what you would pay on a repayment plan with a fixed monthly payment over 12 years or 20% of your discretionary income, divided by 12. The term is typically 25 years.

💡 Quick Tip: Refinancing could be a great choice for working graduates who have higher-interest graduate PLUS loans, Direct Unsubsidized Loans, and/or private loans.

3. Tax Deductions

Looking for good things about filing your taxes? Here’s one: When you claim the student loan tax deduction, you claim the interest you paid on your student loans, whether they are federal or private. You can deduct student loan interest up to $2,500; you don’t need to itemize to get the deduction.

To be eligible to deduct student loan interest, you must pay interest on a qualified federal or private student loan for you, your spouse, or a dependent child during the tax year. You must meet modified adjusted gross income (MAGI) requirements, which is your annual gross income minus certain deductions. You must not have a filing status of married filing separately, and someone else may not claim you as a dependent.

4. Military Service

You may remember the original G.I. Bill from history class, which allowed military service members to attend school after World War II. You can still get help paying for school if you currently serve in the military.

The branches of the United States Military offer loan payment programs that can help you pay off your federal student loans, such as the Air Force JAG program, Army College Loan, Army Reserve Loan, National Guard Loan, and Navy Student Loan repayment options.

Research how military loan repayment programs work for your respective military branch to potentially pay off a significant portion (or even all) of your student loan debt.

5. AmeriCorps

You can also consider using AmeriCorps as a vehicle for paying off your student loans. AmericCorps is an organization through which individuals can dedicate themselves to service and volunteering in the United States.

AmeriCorps volunteers can qualify for Public Service Loan Forgiveness (PSLF), meaning they can get their federal Direct student loans forgiven (“forgiveness” means you don’t have to pay back the loan and can stop repayment) after making 10 years (120 months) of qualifying payments. AmeriCorps service is considered the “employer” for PSLF.

6. Deferment and Forbearance

Deferment and forbearance are similar in that they allow federal loan borrowers to temporarily lower or stop making payments on their federal student loans for a certain period. The steps to achieve deferment and forbearance are also usually the same: Contact your loan servicer, submit a request, and provide the requested documentation.

However, the main difference is that interest does not accrue on some Direct Loans during a deferment. When your loan is in forbearance, you must pay the interest that accrues on your loans.

7. Forgiveness

Another option if you’re looking to pay off federal student loans could be forgiveness. As noted above, this term means that you don’t have to pay back some or all of your federal student loans.

As with serving in AmeriCorps, you may be able to get your federal student loans forgiven via the PSLF program if you work for a government or nonprofit organization. The PSLF program forgives the remaining balance on your Direct loans after you make 120 qualifying monthly payments under an accepted repayment plan and as long as you work full-time for an eligible employer.

You may also receive forgiveness of up to $17,500 on Direct Subsidized and Unsubsidized loans under the Teacher Loan Forgiveness (TLF) program. You may receive forgiveness if you teach full-time or complete five years in a low-income school or educational service agency and meet other qualifications. You may also receive forgiveness for consolidation loans, which occurs when you combine all your loans into one payment.

Note: Private student loan forgiveness is not available as it is with federal student loans. Still, there are avenues you can pursue if you are struggling to repay what you owe, such as discussing hardships with your private loan lender or seeking credit counseling.

The Takeaway

The majority of college graduates have student loan debt, and paying it off can be a stressful process. But there is help. If you have federal student loans and are looking for ways to pay them off as affordably as possible, you likely have plenty of options. Tapping into income-based repayment plans, considering military service or AmeriCorps, deferment, forbearance, or forgiveness can help you as you work to manage and eliminate those student loan payments.

For some people, refinancing their federal loans with a private loan may make sense and be a way to lower their payments or speed up their repayment schedule. However, it’s important to note the following:

•   If you refinance federal loans with a private loan, you forfeit access to federal protections and benefits, such as the deferment, forbearance, and forgiveness programs mentioned above.

•   If you refinance for an extended term, you may pay more interest over the life of the loan, so think carefully if this suits your overall financial picture.

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.

Photo credit: iStock/PeopleImages

SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.

If you have student loans, you may sometimes see the total loan balance go up, thanks to such factors as your interest rate, your repayment term, or loan fees.

Whether your student loans are in a period of deferment or you’ve diligently been making payments every month, it can definitely be frustrating to see your balance increase instead of go down. Having student debt can be stressful enough without feeling as if it’s growing vs. being paid off.

For information and support in this situation, read on. You’ll learn more about this scenario, including:

•   Why can your student loan balance increase?

•   What factors contribute to a student loan balance increasing?

•   How can you reduce your loan total?

•   What repayment options could help?

Understanding Loan Balances

Here’s one of the basics of student loans: When you first take out a loan, your loan balance is the amount you borrowed. However, that loan balance can increase or decrease depending on your payments, interest charges, and fees.

Some factors that can affect your loan balance include:

•   Loan principal: This is the amount you originally borrowed. If you took out a $25,000 student loan to pay for school, your principal amount is $25,000.

•   Interest rate: Interest is the cost of borrowing money and can be part of what you owe on your student loan balance. Federal Direct loans for undergraduates currently have fixed interest rates of 5.50%, while Direct Unsubsidized Loans for graduate students have a fixed rate of 7.05%. Direct PLUS loans have a rate of 8.05%.

The rates on private student loans vary, but they may currently range from around 4% to 16%, depending on your credit, the lender you choose, and when you borrowed. Private student loan rates may be fixed or variable. If your rates are variable, meaning they fluctuate with market conditions, it can be extremely challenging to predict exactly how your loan balance will change over time.

•   Annual percentage rate (APR): You typically see this term attached to private student loans, rather than federal loans. It’s a more inclusive measure than interest rate alone, since it includes interest, fees, and other charges. This also is a way of gauging how much you will pay for your student loans.

•   Fees: Some loan fees that could impact your student loan balance include disbursement fees, origination fees, and late payment fees. These charges can contribute to your loan balance.

When you sign into your student loan account, your loan balance is the total amount you currently owe on your loan.


💡 Quick Tip: Get flexible terms and competitive rates when you refinance your student loan with SoFi.

Factors that Contribute to Increased Loan Balances

Whether you’re in a period of deferment or active repayment, you probably don’t expect your student loan balance to be increasing over time. Unfortunately, there are various factors that can cause your federal student loan balance to go up, including the following:

•   Interest charges: Most student loans come with a grace period, meaning you don’t have to make payments while you’re in school or for six months or so after you graduate. However, most loans, with the exception of Direct Subsidized Loans, start accruing interest right away from the date of disbursement. If you borrowed as a freshman in college and deferred payments the whole time you were in school, your loan balance could significantly increase after four and a half years of non-payment.

•   Loan fees: Student loan fees can also increase your balance. For instance:

◦   Federal student loans come with loan fees of 1.057% or 4.228%, depending on your loan type.

◦   Some private lenders charge such fees as origination fees.

◦   You might also rack up fees if you make late payments or get charged for non-sufficient funds in your bank account. Student loans that go into default can also incur a significant amount in collections fees.

•   Deferment and forbearance: You may postpone payments through deferment or forbearance if you go back to school, encounter financial hardship, or have another qualifying reason. Most loans accrue interest during this time, causing your loan balance to grow. The only exception is Direct Subsidized Loans, which don’t accrue interest during periods of deferment.

•   Interest capitalization: In some circumstances, interest charges capitalize, or get added onto, your principal balance. For example, interest can capitalize on federal student loans if you consolidate them with a Direct Consolidation Loan. Then, you’ll end up paying interest on top of interest, resulting in higher borrowing costs.

•   Repayment plan: If you stay on the standard 10-year plan, you should see your balance go down as you make payments. However, income-driven plans base your monthly payment on your income, not on what will pay your balance off within a certain timeframe. If your monthly payments are low, you could see your balance increase over time (this is known as negative amortization). Note that IDR plans eventually offer loan forgiveness if you still have a balance after 20 or 25 years.

•   Insufficient monthly payments: If you pay a lower amount than your required monthly payments, you’ll also see your balance increase. Plus, you could be subject to late fees, and your loan may go into delinquency and, eventually, default.

Strategies for Managing and Reducing Loan Balances

Student loans are a phase you’re going through, so try not to let them weigh too heavily on you. They are akin to having a mortgage or car loan; you will get out from under this kind of debt.

Now that you’ve learned what increases your total loan balance, consider these strategies for reducing it.

•   Pay on time: Making your monthly payments on time will help you avoid late fees and penalties.

•   Use autopay: By setting up automatic payments from your bank account, you’ll be less likely to miss a payment. Many lenders also offer a 0.25% rate discount for using autopay.

•   Stay on the standard plan, if possible: If you have federal student loans, sticking with the standard 10-year plan will help you pay off your balance in 10 years, assuming you don’t use deferment or forbearance during that time.

•   Make extra payments: Throwing extra payments toward your loan balance, whether on a one-off or monthly basis, can help you pay it down faster and save money on interest.

•   Pursue loan forgiveness: A loan forgiveness program like Public Service Loan Forgiveness (PSLF) or Teacher Loan Forgiveness can help discharge all or part of your student loan balance at once.

Here are some other strategies that may not reduce your federal student loan balance, but could help you manage it better:

•   Apply for income-driven repayment: IDR plans can reduce the money you pay toward student loans each month. Plus, the new SAVE Plan (which replaces the REPAYE Plan) comes with an interest subsidy, meaning the government will cover any unpaid interest charges from month to month.

Paying your federal loans on an IDR plan is also required to qualify for PSLF.

•   Consolidate your loans: Consolidating your loans with a Direct Consolidation Loan can simplify repayment, especially if you owe multiple loans with different due dates to different servicers. Watch out for interest capitalization, though.

•   Refinance your student loans: If you have good credit (or a creditworthy cosigner), you might consider refinancing student loans for a better interest rate and new repayment terms. Some potential advantages of refinancing student loans can include lowering your monthly payment, saving money over the life of the loan, and/or paying off your balance faster.

However, it’s important to note the following: Refinancing federal loans with private ones means you forfeit access to federal benefits and protections, including forgiveness programs. Also, if you refinance for an extended term, you may pay more interest over the life of the loan. For these reasons, refinancing student loans requires careful thought to decide if this is the right next step for you.

💡 Quick Tip: Federal parent PLUS loans might be a good candidate for refinancing to a lower rate.

Long-Term Financial Impact of Growing Loan Balances

A growing student loan balance is not only stressful, but it can also harm your overall financial health.

The amount of debt you owe, for example, makes up 30% of your FICO® credit score. Owing a sizable amount of debt can drag down your score, making it difficult to qualify for new loans or credit cards or get affordable rates. Plus, a high debt load increases your debt-to-income ratio (or DTI), which lenders prefer you to keep under 36%.

To avoid escalating balances, it’s important to develop a repayment plan for your student loans. Take a look at your budget, and review the various repayment plans available to you. Consider what steps you can take to manage your student loan balance and minimize its impact on your daily life as well.

Tips for Preventing Loan Balance Increases

To prevent your loan balance from increasing, make sure you understand the terms and conditions of your loans. If your loan accrues interest right away, consider making full or interest-only payments while you’re in school to prevent your balance from rising during your grace period.

Make a budget and check in with your finances often, so you can choose a repayment approach that works for you. If you haven’t borrowed yet, consider the full array of financing options to reduce your reliance on student loans.

For example, applying for grants and scholarships, accessing a federal Work-Study or other job, or choosing a school with lower tuition costs could help you keep student loan borrowing to a minimum.

Navigating Loan Repayment Options

If you borrowed one of the various types of federal student loans, you have a variety of repayment plans at your fingertips, which can prove helpful when eliminating your loans. These include:

•   Income-Driven Repayment (IDR) Plans, which adjust your monthly payments to a percentage of your discretionary income and eventually provide loan forgiveness

•   Standard Repayment Plan, which involves fixed payments over 10 years

•   Graduated Repayment Plan, which requires lower payments at first that increase over time

•   Extended Repayment Plan, which spans 25 years

You may also qualify for loan forgiveness or repayment assistance if you work in public service. (Postponing loans through deferment or forbearance is an option during financial hardship, though both can cause your loan balance to increase.)

Private student loans don’t come with as many repayment plan options, but your lender may be willing to modify payments if you’re struggling to make your monthly payments. Private loans also aren’t eligible for federal forgiveness, though some states and private organizations offer repayment assistance if you work in a certain field or area.

In addition, it can be valuable to get qualified, reputable credit counseling if you are struggling to pay private student loans. The Consumer Financial Protection Bureau provides more information on this kind of credit counseling .)

Before picking a repayment plan, make sure you understand how it will impact your loan balance and overall costs. A longer plan can reduce your monthly payments, as noted above, but it tends to increase the amount of interest you pay over the loan’s term.

Recommended: Private Student Loan Guide

The Takeaway

Student loan debt, as many Americans know, can be stressful, and seeing your loan balance rise can add to this situation. Understanding what increases your student loan balance (such as your interest rate, loan fees, and repayment plan) can help you avoid paying more than you need to on your debt.

Everyone’s situation is unique, so consider your budget, financial goals, and any plans for loan forgiveness when choosing a repayment strategy that works for you. You may find that changing your federal loan repayment plan or refinancing your existing loans can help you better manage your student loan debt.

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.

Photo credit: iStock/:Olemedia

SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.

If you’re looking to break into the tech field, a coding bootcamp might help you get there. Coding bootcamps are short-term, intensive programs that teach in-demand coding skills, such as JavaScript, data science, and web and app development.

They may span three to six months to complete, and are usually available in person or online. According to Course Report, bootcamp tuition can range from $7,800 to $21,000, with an average cost of $13,584. Since coding bootcamps are usually not accredited programs like a degree program at a university, they don’t qualify for federal financial aid.

However, there are other options for financing this cost, such as scholarships, loans, and income-share agreements. Here’s a closer look at how to pay for a coding bootcamp so you can launch your career in tech.

Apply for Scholarships from the Bootcamp

Some coding bootcamps offer scholarships to students. Scholarships can be the best form of financial aid, since you can put them directly toward program costs and don’t have to pay them back. Scholarships are typically based on financial need or the student’s background; sometimes, they are based on a student’s aptitude and achievements.

Some specifics:

•   Coding Bootcamp Tech Elevator, for example, offers the Represent Tech Scholarship of $13,175 to historically underrepresented groups to increase access to tech careers. You might qualify for this scholarship if you identify as Black/African American, Hispanic/Latino, Native American/American Indian, female, transgender, or non-binary.

•   You might also find scholarships from private organizations. Code Fellows, Hack Reactor, and V School are just a few groups that offer scholarships for coding bootcamps. Use a scholarship search engine to find additional opportunities.

To boost your chances of winning a coding bootcamp scholarship, apply early and cast a wide net. Make sure to meet all the scholarship requirements, and, if required, put time and effort into crafting a thoughtful personal statement and any other answers to questions on the scholarship application.


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

Take Out a Student Loan

If you’re wondering how to pay for coding bootcamp, borrowing a student loan may be another option. While you can’t use a federal student loan to pay for most bootcamps, you may qualify for a private student loan.

Do some research on the basics of student loans and which lenders offer coding bootcamp loans. Find out what the qualification requirements are, such as a minimum credit score or income. Depending on your financial profile, you may need to apply with a creditworthy cosigner to qualify for a loan.

With private student loans, you can often choose between a fixed and variable interest rate, as well as loan terms that span several years. Keep an eye out for any fees that could add to your costs of borrowing, such as an origination fee. Many people have student loans and it can be a challenge to repay them, so you want to be sure you are getting the best deal possible.

A personal loan may also be an option for paying for coding bootcamp. However, interest rates may be higher, and it can be tough to qualify without good credit. It may be worthwhile, though, to see what you might qualify for.

Consider an Income-Share Agreement or Deferred Tuition

Some coding bootcamps let you finance the cost of your program with an income-share agreement (ISA) or deferred tuition. An income-share agreement lets you postpone paying tuition until you get a job. Once you start earning a certain amount of income, you’ll pay a percentage of that income back to the coding bootcamp for a certain period of time.

Deferred tuition works in a similar way. With this option, you don’t have to pay tuition until you’ve finished the program and gotten a job. Unlike an ISA, which involves paying a fixed percentage of your income, a deferred tuition agreement typically has you pay off your tuition bill in monthly installments.

ISAs and deferred tuition arrangements help you attend the program and gain valuable skills without having to pay tuition upfront. However, you can end up paying significantly more with this approach than the initial price tag of the program. Crunch the numbers and see what makes sense for your financial situation.

Recommended: Advantages of Refinancing Student Loans

Attend a Tuition-Guarantee School

If you want reassurance that you’ll get a return on your investment for coding bootcamp, consider a tuition-guarantee program. Bootcamps that offer a tuition guarantee will refund your tuition if you don’t find a relevant job within a certain time frame after finishing the program. Some of these bootcamps also offer deferred tuition, so you won’t have to pay your tuition bill at all if you don’t find suitable employment.

Some bootcamps that offer tuition guarantees include Springboard, Jigsaw Labs, and Bloom Institute of Technology, among others. The criteria for a tuition guarantee can be strict, however. For instance, the program may not allow you to turn down a job offer, and you may be required to apply for a certain number of jobs, meet with a career coach, and go to networking events in order to verify that you are hunting for a position. Plus, you might have to be willing to move if you get a job offer in another city or state.

If you’re attending a bootcamp with a tuition guarantee, make sure to read the fine print of that agreement. You don’t want any surprises after you complete the program.


💡 Quick Tip: When refinancing a student loan, you may shorten or extend the loan term. Shortening your loan term may result in higher monthly payments but significantly less total interest paid. A longer loan term typically results in lower monthly payments but more total interest paid.

FAQs About Paying for Bootcamps

Here are a few common questions about affording coding bootcamps, plus answers, to help you make your decision.

Does FAFSA Cover Coding Bootcamp?

The FAFSA does not cover coding bootcamps, as coding bootcamps are typically not eligible for federal financial aid. Schools that are eligible for federal aid include most accredited public, nonprofit schools, as well as some privately-owned, for-profit post-secondary institutions.

Can You Get a Student Loan for Bootcamp?

While federal student loans are not available, some private lenders offer student loans for coding bootcamp, though not all do. Some coding bootcamps may have a relationship with particular lenders. Whether or not this is the case, it can be wise to research multiple lenders to find a student loan that you can use for coding bootcamp and that also has reasonable rates and terms.

Can You Get Financial Aid for Coding Bootcamp?

You typically cannot qualify for federal financial aid for coding bootcamp. However, you may be able to find scholarships from coding bootcamps or private organizations. Plus, you can explore your options for private student loans, personal loans, income-share agreements, and tuition-guaranteed programs.

Can You Use a 529 Plan to Pay for Coding Bootcamp?

You can only use a 529 plan to pay for coding bootcamp if that program is offered by a school that’s eligible for federal student aid. As most coding bootcamps do not fit this criteria, withdrawals from a 529 plan for a coding bootcamp would likely not count as qualified educational expenses.

Recommended: What Is the Average Student Loan Debt After College?

The Takeaway

If you want to learn web development, make your own app, or become fluent in JavaScript, CSS, or another programming language, a coding bootcamp can teach you those skills and potentially help you in your career. If covering the costs of a coding bootcamp upfront are out of reach, you have various ways to pay for it, including scholarships, student loans, personal loans, and income-share agreements.

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.

Photo credit: iStock/izusek

SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.

Getting into law school is competitive, especially if you’re aiming for a top-tier school. To make yourself the strongest candidate possible, you may be wondering about the best major for law school.

However, there’s no single path to law school admissions nor one best pre-law major; law students typically have a variety of academic backgrounds. Choosing a major that will equip you with the skills to succeed in law school — as well as help you earn good grades — is more important than selecting a specific pre-law field.

As you consider what undergrad degree to pursue for law school, read on for some help making your decision, including what are the most popular majors among law school students..

Do Law Schools Really Care About Your Major?

While law schools care about your GPA and LSAT scores, they don’t require you to study a specific major as a student. According to the American Bar Association (ABA), students from almost every academic discipline are admitted to law school.

According to the ABA, you may choose to major in subjects that are considered to be traditional preparation for law school, such as history, English, philosophy, political science, economics or business. Another option is to focus your undergraduate studies in areas as diverse as art, music, science and mathematics, computer science, engineering, nursing or education, if that’s what appeals to you.

Law schools want to see that you’ve challenged yourself as an undergraduate student. They also may appreciate relevant professional experience that you gained from an internship or job following graduation.


💡 Quick Tip: Ready to refinance your student loan? You could save thousands.

How Should You Choose Your Pre-Law Major?

Rather than choosing a specific pre-law major, pursue a course of study that you find both interesting and challenging. Taking a range of difficult courses can prepare you for law school and help you develop skills you’ll need as a lawyer.

According to the ABA, some core skills to prioritize developing prior to law school include:

•   Problem solving

•   Critical reading

•   Research, writing, and editing

•   Oral communication and listening

•   Organization

•   Relationship building and collaboration.

By honing these skills through your courses, extracurriculars, and professional experiences, you’ll become a stronger candidate for applying to law school. Having some background knowledge and exposure to the law can also be helpful in your quest for law school admission. You might be able to gain this knowledge from legal courses, an internship, or post-graduation work.

Recommended: Private Student Loans Guide

What Are the Most Popular Majors of Law School Applicants?

While there’s no single best major for getting into law school, some majors are popular among students accepted to law school. Here are some of the most popular pre-law majors, based on 2023 data from the Law School Admission Council (LSAC).

Top 10 Most Popular Pre-Law Majors

Here’s a look at the college major choices that many prospective law school students pursue:

1.    Economics: In 2023, 3,149 economics majors applied to law school, and 80% succeeded in getting in. As an economics major, you’ll likely study the global economic conditions that often play a major role in legal policy and reform.

2.    History: Among the 2,763 history majors who applied to law school in the 2023 enrollment year, 79.7% were accepted. Majoring in history can help give you the background knowledge, research experience, and writing skills that are helpful for law school.

3.    Philosophy: More than three-quarters (77.9%) of the 2,454 philosophy majors who applied to law school were admitted. Whether you focus on ethics, political philosophy, or another area, you’ll gain analytical, argumentation, logic, and communication skills that will benefit you as a future lawyer.

4.    English: English majors also tend to have a good shot of getting into law school. In total, 2,688 English degree holders applied, and 76.6% were admitted. The writing, editing, research, and communication skills you hone as an English major can be useful for the study and practice of law.

5.    Finance: About 76% of the 1,735 finance majors who applied to law school got it in. As a finance major, you might study business economics, accounting, and other related topics.

6.    Political Science: Political science is one of the most popular majors among law school applicants, as 13,659 political science majors applied to law school. Of that group, 75.3% were admitted. Studying political theory and system of government can help prepare you for a career in any specialty of the law.

7.    Psychology: Psychology majors also had a high acceptance rate at 72.9% out of 4,153 applicants. Studying human behavior can be helpful in many types of law.

8.    Arts and Humanities: Among the 2,493 arts and humanities majors who applied to law school, 72.3% were accepted. This large category could include a number of specialties, such as music, art, literature, and languages.

9.    Communications: If you want to study public speaking, journalism, public relations, or another communications field, you may be glad to find out that 69% of the 1,634 communications majors who applied to law school got in.

10.    Sociology: Rounding out the list of popular pre-law majors is sociology, or the study of social theory, policy, religion, human behavior, and related topics. According to the LSAC, 2,007 sociology majors applied to law school and 68.8% gained acceptance.

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Is Pre-Law a Major?

Pre-law is not a major at some schools, but you may work with a pre-law advisor as an undergraduate student. If you’re interested in going to law school, a pre-law advisor can help you select courses that will teach you about law. They might also have suggestions for paid or unpaid internships and other ways to expose yourself to the legal profession.

If your school does offer a pre-law major, your schedule might involve courses on law and other classes that build your analytical, reasoning, research, and writing skills. However, if you are in another program, you don’t necessarily have to rush to switch majors.

Choosing a challenging major that you enjoy, while also cultivating the skills that will help you succeed in law school, may be a better option than a pre-law major.

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The Takeaway

If you’re interested in pursuing a law career, there’s no single college major that you have to choose, since admissions officers accept students from a wide range of academic backgrounds. It can be wise to pick a major that you find interesting and that will also develop skills and knowledge that will help you succeed as you continue your studies.

Along with planning your academic journey, you might start thinking about the best way to finance law school. Grants, scholarships, federal financial aid, and private student loans can help you cover your cost of attendance.

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.

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SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.

If you think biology or chemistry is the best college major if you want to attend medical school, that’s not necessarily true. Getting into medical school is highly competitive, but you can typically choose any undergraduate major, as long as you meet medical school prerequisites.

The best pre-med major is whichever one aligns with your interests, goals, and aptitudes. It should also be one that won’t stand in the way of earning good grades, as a high GPA will improve your chances of getting accepted to medical school.

Here’s a closer look at the best majors for pre-med students so you can pick the field of study that’s the best fit for you.

What Is the Best Pre-Med Major?

The term pre-med indicates that you plan to apply to medical school after you earn your bachelor’s degree, but it doesn’t require a specific major. Instead, it means taking the necessary medical school prerequisite courses, such as biology and chemistry. Some points to consider:

•   As long as you take those courses, you can major in any field of study, from biology to political science to English. Of course, choosing a major in the sciences can make it easier to fulfill your prerequisite course load. Plus, science courses may equip you with the concepts, vocabulary, and knowledge that will help you do well on the MCAT, the medical school admissions test, and in medical school in the future.

•   If, however, you know you’ll be devoting the rest of your life to the medical field, you may prefer to explore other interests in college, such as the humanities or math. Having a degree in a non-sciences field could also potentially help you stand out among the pool of applicants to medical school, especially if it equips you with a unique perspective or experiences.

Here’s a perspective to consider: In an article for the Association of American Medical Colleges (AAMC), Dr. Leila Amiri, Assistant Dean of Admissions & Recruitment at the University of Illinois College of Medicine, writes, “You don’t have to be a science major to apply to medical school … Medical schools want students who are authentic with genuine interests, so it’s best to major in what you want, not what you think they want.”


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Best Pre-Med Major Based on Matriculation Rate

When considering the best majors for medical school, one statistic you can look at is matriculation rate. This lets you know, of incoming students with various majors, how many enrolled as a student. Here’s how the data breaks down by undergraduate major.

As you can see, humanities and math majors have the highest matriculation rates into medical school, while specialized health sciences majors have the lowest. This data doesn’t necessarily mean that humanities and math are the best pre-med majors, though.

There are a lot fewer humanities and math majors applying to medical school in the first place, which could suggest that those who do apply are highly motivated to study for the MCAT and accept admission.

By contrast, health sciences students have various fields open to them and may choose to go to nursing school or another alternative program rather than enrolling in medical school. The cost of medical school and the length and rigor of the program can mean it’s not for everyone.

For these reasons, you may find that the best major for med school is the one that you find most motivating and satisfying.

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Best Pre-Med Major Based on Graduation Rate

Although the AAMC doesn’t share data on graduation rates by pre-med majors, it does reveal that the four-year graduation rate among all medical school students ranges from 81.7% to 84.1%. Six years after matriculating into medical school, the average graduation rate is 96% for non-dual degree MD students.

It’s worth considering how your choice of a major as a pre-med student will impact your chances of graduating on time. The medical school curriculum is science-based and will require you to understand scientific terms and use them in a sophisticated way in papers, projects, and exams.

If you choose a non-sciences undergraduate major, make sure to get up to speed on scientific concepts and terminology through your prerequisite courses, preparation for the MCAT, and other outside studies and experiences. While some sciences could seem like the best major for pre-med, they aren’t the only possibility.

Best Pre-Med Major Based on GPA and MCAt

Your GPA and MCAT play a major role in your chances of admission to medical school. Choosing a concentration where you can get good grades, then, may be a top priority when considering good majors for applying to a graduate school pre-med program.

According to AAMC data, math and statistics majors have the highest average GPA at 3.69. They also score highly on the MCAT, with an average total score of 511.9 (total MCAT scores range from 472 to 528).

Biological sciences and humanities majors follow close behind, with an average GPA of 3.65. Humanities majors beat out biological sciences majors in terms of MCAT scores, with an average score of 509 as compared to 506.3.

As with the other data points in this guide, remember that correlation does not equal causation. In other words, a math or humanities major doesn’t necessarily prepare you to score higher on the MCAT.

Since there are a lot fewer math and humanities applicants to medical school, this group may be more self-selecting and represent some of the most academically strong students. At the same time, this data should reassure you that choosing a non-sciences major won’t necessarily be a roadblock on your journey to medical school.

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Best Pre-Med Major Based on Number of Applicants

In the 2023 to 2024 school year, 52,577 students applied to medical school, according to the AAMC. Here’s how many of those students majored in the biological sciences, humanities, social sciences, and other majors.

As you can see, more than half of applicants to medical school majored in the biological sciences. Majoring in biology can help you meet your prerequisite course load, as well as prepare you for the types of classes you’ll be taking in medical school.

However, majoring in biology isn’t required, and choosing an alternative major could help you stand out among applicants. When choosing a major, whether you’re aiming for a B.A. or a B.S., consider what will best prepare you to meet your future goals, and commit yourself to earning a strong GPA and MCAT score.

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Takeaway

Are there best majors for med school? While the majority of medical school applicants (57%) major in the biological sciences, that’s not required to get into medical school. While you may have to take some science class prerequisites as an undergraduate, your choice of major is entirely up to you.

As the data shows, choosing a non-science major isn’t necessarily an obstacle, as humanities and math majors had some of the highest GPAs and MCAT scores among all medical school applicants.

When choosing your college major, consider your personal interests and aptitudes, and work closely with your advisor to make sure you’re fulfilling all your major and pre-med requirements.

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.

Photo credit: iStock/SDI Productions

SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.