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Paying for medical school can be a significant financial challenge, with tuition, fees, and living expenses adding up quickly. Fortunately, there are several options available to help future doctors finance their education.

Keep reading for more insight into how to pay for medical school.

What Is Medical School?

Medical school is typically a four-year educational program that leads to graduating students receiving an M.D., D.O., or N.D. degree. After medical school, graduates will generally continue onto a medical residency in the specialty of their choice.

Different Types of Medical School

There are three main types of medical school: allopathic, osteopathic, and naturopathic. All of these programs prepare students for careers as doctors, but they have different academic credentials. Let’s take a closer look at each of these programs.

Allopathic Medical School

Allopathic medicine is also known as conventional or traditional medicine. Allopathic medical schools provide students with a traditional curriculum and approach to medicine. Allopathic doctors rely on traditional methods such as x-rays, prescription medications, and surgery to treat and diagnose an illness or medical issue. If a student graduates from an allopathic program, they’ll receive a Doctor of Medicine (M.D.) degree.

Osteopathic Medical School

Osteopathic schools also cover standard medical sciences and practices but supplement those lessons with training on providing touch-based diagnosis and treatment of different health problems. Osteopathic doctors often take a more holistic approach to patient wellness and treatment. Students who attend an osteopathic medical school will end up with a Doctor of Osteopathic Medicine (D.O.) degree.

Naturopathic Medicine School

Naturopathic medicine school is a graduate-level program that trains students to become naturopathic doctors (NDs). These schools focus on natural and holistic approaches to health and healing, combining traditional medical sciences with therapies such as herbal medicine, nutrition, acupuncture, homeopathy, and lifestyle counseling. The curriculum typically includes both classroom instruction and clinical training, and it usually takes four years to complete after earning a bachelor’s degree.

Recommended: Average Cost of Medical School

Financing Medical School

The cost of medical school is on the rise and finding a way to finance medical school can be a daunting task. There are quite a few options for medical students to get help doing so. From taking out student loans for medical school to gift aid, students have options.

Scholarships & Grants

Scholarships and grants are considered a form of gift aid because they typically do not need to be repaid. Students can apply for need-based grants and merit scholarships through their medical school or outside sources. Their school’s financial aid office can walk them through their options.

Medical associations and nonprofit organizations also tend to have financial aid, grants, and scholarships that medical students can apply for. Again, a school’s financial aid office can help point medical students in the right direction, but they won’t know of every gift aid opportunity available outside of their school, so students may want to do their own research.

The following associations generally offer scholarships and grants for medical students.

•   American Medical Association. This professional group provides financial support through scholarship opportunities, as well as general support for medical students looking to learn more about how to pay for medical school and to prepare for residency.

•   American Medical Women’s Association. Medical students can peruse this association’s list of more than a dozen different scholarships, awards, and grants that they may be eligible to apply to.

•   American Podiatric Medical Association. Every year, the American Podiatric Medical Association gives out more than $200,000 worth of grants and scholarships.

Federal Student Loans

Medical students can apply for federal financial aid, including federal student loans, by completing the Free Application for Federal Student Aid (FAFSA®). Medical students may qualify for three types of federal loans after they complete the FAFSA. The FAFSA may also qualify students for financial aid such as scholarships and grants from their state or school (if available).

•   Federal Direct Unsubsidized Loans. Also known as Stafford Loans, Federal Direct Unsubsidized Loans allow students to borrow money unsubsidized. When a loan is unsubsidized, this means that the borrower is responsible for paying all of the interest on the loan.

•   Federal Direct Graduate PLUS Loans. If a student still needs help financing medical school after taking out a Federal Direct Unsubsidized Loan, they can take out a Federal Direct Graduate PLUS Loan, which is also unsubsidized. These loans tend to have a higher interest rate than Federal Direct Unsubsidized Loans do and are credit-based.

•   Health Resources and Services Administration (HRSA) Primary Care Loan. Medical students with financial need, and who can demonstrate it, may qualify for this school-based program that offers a few different types of loans for medical students. Not all medical schools participate in this program, but students can check with their school’s financial aid office to see if their school does take part in it.

Recommended: Types of Federal Student Loans

Private Student Loans

After applying for federal student loans, students may be interested in supplementing their federal support with private medical school loans. Generally, private student loans for medical school are available through banks or credit unions. How much a student will pay in interest for a private student loan will depend on what their credit history is, amongst other factors. There are private student loans available at fixed and variable interest rates.

While private student loans can be a helpful option for borrowers, they don’t always offer the same borrower protections as federal student loans — such as income-driven repayment plans or the opportunity to pursue Public Service Loan Forgiveness. Because of this, students generally resort to private student loans only after depleting all other financing resources.

Recommended: Private Students Loans vs Federal Student Loans 

The Takeaway

Between scholarships, grants, and medical school student loans, medical students have some decent options at their disposal for financing medical school. While there’s no denying that medical school can be a stressful time in a person’s life, hopefully all of the hard work and sacrifices will lead to a fulfilling and rewarding career.

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

FAQ

What is the best way to pay for medical school?

If a student can secure scholarships and grants, that’s the best way to pay for medical school. Unlike student loans which must be paid back, gift aid is free money that medical students won’t have to pay back after graduation.

How do you get medical school paid for?

Medical students can apply for scholarships and grants to help cover the cost of medical school. After applying gift aid, students can take out federal or private student loans to cover the remaining costs of attending medical school. Paying in cash is also an option, but one that is understandably not within reach for many people.

Is it hard to get loans for medical school?

There are both federal and private student loans available to medical students, so they generally have plenty of options that make it possible to get a loan for medical school.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

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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).

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SOISL-Q225-039

State student loan programs are financial aid options offered at the state level to help residents afford the cost of higher education. These programs often provide low-interest loans, grants, or scholarships specifically for in-state students attending eligible colleges or universities.

Unlike federal loans, state loans may come with unique eligibility requirements, benefits, and repayment terms that vary by state. Understanding what your state offers can be an important part of building a well-rounded college financing plan.

State Student Loan Programs, Explained

State student loans are offered by state government agencies. They generally have similar requirements and benefits to federal loans: low, fixed interest rates and flexible repayment plans. Some even offer subsidized (interest-free) loans and a deferred repayment plan. Though some states may waive a credit check, other lenders do require it. Students without a solid credit history may need to consider applying with a cosigner.

State student loans agencies are also unique because they are run not-for-profit and benefit the local community. As a local entity, they tend to be more mission-minded and offer more personable customer service.

These programs may offer a strong alternative for students who have exhausted financial aid and federal student loans.

What Are State Student Loan Programs?

State student loan programs vary in scope by state and not all states offer this option. Typically, a state’s department of postsecondary education is responsible for managing the loan program.

Also, terms and eligibility requirements differ from state to state. For instance, Georgia state offers the “Student Access Loan” through the Georgia Student Finance Authority. It’s a 1% fixed rate loan offered exclusively to Georgia residents.

Eligibility is strict, however. Prospective or current students must be enrolled in an institution from one of three university systems in Georgia (University System of Georgia, Technical College System of Georgia, or private postsecondary institutions). A maximum of $8,000 can be awarded per year, and up to $36,000 in a college career.

Applying for State Student Loan Programs

Many state student loans’ first step is filling out a Free Application for Federal Student Aid (FAFSA®). According to the U.S. Department of Education, some programs are first-come, first-serve — so it may help to apply early.

To get started, find your state’s department of postsecondary education. The U.S. Department of Education maintains a list of each state’s agency. These departments will be your direct sources of information on loan programs, eligibility, and how to apply. They can direct you to state student loan programs, if any are available.

It’s best to contact your department first for the latest programs, but the Education Finance Council has a comprehensive list of all participating state agencies. It may also be helpful to connect with your financial aid office, as they may have insight into state and college-specific aid opportunities.

If your state does not offer student loans — consider out-of-state agencies that accept out-of-state students like the Massachusetts Educational Financing Authority (MEFA). Massachusetts’ state legislature created MEFA in 1982 to provide low-cost finance alternatives for families and students. They offer undergraduate loans with fixed rates from 5.75% to 8.95% APR, as of May 2025.

What Can State Student Loan Programs Be Used For?

Borrowers use state student loans for college programs, whether professional, undergraduate, or graduate.

Your “cost of attendance” (COA) is a federal term that defines expenses from your higher ed programs. They can include tuition, room, food, books, and supplies.

State student loans should not be used for sorority and fraternity dues, vacation travel, or non-discretionary dining. Generally, it’s wise to use the minimum required to pay for educational needs in order to pay lower interest fees after graduation.

Tuition

College Tuition is the price of the actual education. It covers the cost of your classes and varies by the amount of credits required in your major. Charges will also vary depending on whether the school is public or private, or if students are in-state.

Room & Board

Room and board refers to housing and meals provided on a college campus. Types of housing include dorms or university-owned apartments.

Some students cut substantial costs by living at home and commuting to school. If living at home is not an option, off-campus rentals can also be covered by state student loans. This option may be cheaper, especially if roommates split the rent.

Recommended: Using Student Loans for Living Expenses and Housing

School Supplies & Equipment

Books, laptops, and other educational equipment are also part of the cost of attendance. It can cover general school items, such as pens and notebooks, and degree-specific equipment, such as Adobe software for graphic design majors or cameras for photography students.

Consider buying second-hand books or renting e-books. E-books in general are cheaper than physical textbooks.

Recommended: Ways to Cut Costs on College Textbooks

Transportation

If your classes are not walking distance — COA covers all local transportation costs such as car, taxi, and public transit. Examples are monthly train passes or gas for your car. Loans cannot be used to purchase a vehicle.

Personal Expenses

These expenses cover daily needs such as toiletries, groceries, laundry, haircuts, and other personal matters while a college student. They can also cover your phone and internet bill.

Dependent Care Expenses

Childcare is included in COA. This includes daycare or babysitters. Determine your aid amount by the number and age of dependents, as well as hours of care needed.

Other Costs Associated with Schooling

Miscellaneous expenses are covered, too. Examples might include study abroad programs and special needs equipment. COA also covers general campus fees, such as orientation fees, student social activity fees, health insurance fees, and more.

Recommended: I Didn’t Get Enough Financial Aid: Now What?

State Loan Programs vs Private Student Loans

More Competitive Rates

Benefits to state student loans may include a more competitive interest rate or a deferred payment plan. Private lenders, on the other hand, typically have higher interest rates that are generally determined based on the applicant’s credit history and income, among other factors. Also, private loans may not have deferred repayment plans.

Maximum Borrowering Amounts

State loan programs usually have a maximum borrowing amount for students. For instance, Georgia’s program awards a maximum of $8,000 per year. Private lenders will typically award up to the cost of attendance, minus any other financial aid received.

Stricter Eligibility Requirements

State college loan programs have more strict eligibility requirements for borrowers. The above-mentioned state agency in Georgia lends only to in-state residents. Georgia has even stricter policies: the schools must be in-state. Alaska’s program, however, allows Alaskan residents to use funds for out of state tuition.

Lastly, state student loan programs are not available in every state — whereas there are several private lenders to choose from nationally.

The Takeaway

State student loan programs offer valuable financial aid opportunities for students seeking to manage the costs of higher education. These programs, administered by individual states, often provide low-interest loans, grants, or scholarships tailored to residents attending in-state institutions.

Other ways to pay for college 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.

FAQ

What are state student loans?

State student loans are non-federal funds offered via U.S. state higher education offices. They generally offer lower interest rates and various benefits to residents. Some state agencies lend nationally.

Are state student loans offered through the government?

State student loans are offered through state-level government agencies — not national (federal) agencies.

What are the benefits of choosing a state student loan over a private loan?

State student loans often come with benefits such as lower, fixed interest rates, deferred repayment options, and standardized rates regardless of credit score. They may also offer more personalized customer service due to their community-focused nature. In contrast, private loans typically have variable rates based on credit history and may lack certain borrower protections.

Photo credit: iStock/Nelson_A_Ishikawa

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.

SOISL-Q225-038

Here comes another school year, and that can mean it’s time to get shopping for some nice new pencils, notebooks, backpacks, and cool clothes. But don’t expect it to come cheap: In 2024, parents of K-12 kids spent an estimated $586 per student on back-to-school shopping.

Chances are, you don’t want to go into credit card debt to get your kid outfitted for the first day of school, so here’s help. Below, you’ll find 31 back-to-school shopping tips that can save you money while getting your kids prepped for a great year ahead.

1. Check the Circulars

You might receive weekly circulars in the mail that include coupons to local stores that can help you save money on school supplies. If you don’t receive any circulars or you want more, using a deals website like Flipp can give you access to digital circulars and coupons you can use at the store.

2. Download Honey

The Honey browser extension can be helpful when it comes to back-to-school savings. Installing Honey on your web browser will enable the extension to automatically search for coupon codes and deals when you check out online, saving you both time and money.

💡 Quick Tip: Help your money earn more money! Opening a high-yield bank account online often gets you higher-than-average rates.

3. Use Online Coupons

Some websites, such as Coupons.com, RetailMeNot, and Savings.com, offer online coupons. Browsing these sites may lead to savings on school supplies you need.

4. Join Target Circle

Target typically offers good deals on school supplies, including special Target Circle offers and $1 school finds. Using the Target Circle Card will get you an additional 5% off all of your back-to-school shopping. You might also investigate joining Target Circle 360 (which requires paying a monthly or annual membership fee) for more deals and perks.

5. Use Cash Back Credit Cards

Making school supply purchases with a cash back credit card is another option to save some money. Then, you can put your savings towards future purchases or use the cash back to pay a portion of your credit card bill.

6. Get Cash Back for Shopping

On sites like Rakuten and Swagbucks you can earn cash back when you shop at your favorite stores. Check these sites for cash back offers before heading out for back-to-school shopping.

7. Sign Up for Store Emails

If there are a few stores you know you’re going to be shopping at this year, then sign up for their email list ahead of time to receive coupons and find out when they are running sales. Some stores offer a percent-off coupon or a dollar amount discount for signing up for their emails or texts.

Recommended: 15 Creative Ways to Save Money

8. Download Store Apps

Along with signing up for emails, you can also download store apps to receive exclusive savings and deal alerts. You may receive a one-time coupon at the beginning and then additional deals after that.

9. Ask Friends for Their Old Supplies

If you have friends who aren’t using their old supplies anymore, they may be willing to give them to you so they don’t go to waste. This could save you a lot of money, especially when it comes to paying for college textbooks.

10. Join Parent Groups

Consider joining local parent groups on Facebook or other social media platforms to see if anyone is giving away supplies or selling them at a steep discount. Connecting with other parents before the first day of school can also be a good way to form friendships and trade back-to-school shopping tips.

11. Look on Used Goods Marketplaces

You may also be able to find the supplies you need on used goods marketplaces such as Facebook Marketplace or Craigslist. Keep safety precautions in mind when meeting strangers to complete a transaction: Consider meeting at a police station, bring someone with you, and trust your instincts if you feel the situation is unsafe.

12. Wait to Make Some of Your Purchases

Your children likely aren’t going to need all of their school supplies on the first day, or perhaps even in the first month of school. Instead, you can ask your children’s teachers what they will need right away and then wait to shop for the rest of the supplies when retailers start marking down their inventory, which typically happens in September or October.

13. Create a Budget

Before setting foot into a store, come up with a back-to-school spending budget so you know exactly how much you can spend and avoid impulse purchases. Without a plan, it can be easy to spend too much and get caught off guard when you get your credit card statement in the mail.

14. Take Inventory of What You Already Have

You may already have what you need for back to school in your home. Look around for extra pencils, art supplies, books, and other items that you thought you needed to purchase but may already own.

15. Pay With Cash

One of the old tricks for sticking to a budget and saving money is to pay with cash instead of a debit or credit card. Paying with cash may make you more mindful of your purchases because you see the cash disappear when you spend it. You might not be tempted to spend as much if you opt for good, old-fashioned dollar bills and coins.

Recommended: The Envelope Budgeting Method: What You Need to Know

16. Negotiating on a Cash Purchase

Cash is also helpful for negotiating. Though you may not be able to negotiate prices at a big box store, you might be able to at a local shop, flea market, or yard sale if that’s where you’re headed for school supplies. Let the merchant know how much you’re willing to pay, and they may just be willing to cut a deal with you.

17. Look for Price Matching

Some stores will match another store’s price if you show them that their competitor is offering a better price on the same product. Prior to going to the store, take a few minutes to compare prices online, and bring proof of the lower price when you shop. Price matching policies vary from store to store and can usually be found on a store’s website.

18. Buy in Bulk

When it comes to how to save on school supplies, you may be able to save big if you buy in bulk from wholesale clubs like Costco or Sam’s Club. Some of the best things to buy in bulk for back-to-school include pens and pencils, folders, and notebooks. Bulk purchases of things like paper towels, toilet paper, and shampoo might also make good financial sense. Joining other parents to split costs on bulk purchases might just result in a new, like-minded friend group.

💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.

19. Buy Refurbished Electronics

If you need to pick up electronics like laptops, tablets, or phones, consider buying a refurbished version instead of a new device. Certified used models are often available directly from the manufacturer or from reputable online sellers.

20. Head to the Dollar Store

While the dollar store isn’t the ideal place for all your back-to-school shopping needs, you can find a number of inexpensive items there to save money on. These items include pencils, pens, crayons, folders, and clipboards.

21. Shop on Tax-Free Days

Some states hold annual tax-free days, usually in July or August, which can be perfect for back-to-school shopping. Check online to see if and when your state offers this money-saving option.

22. Use Your Student Discount

College students may be able to use their college ID or student email address to score discounts on electronics and other items. Check out stores around your college that offer deals to students.

23. Buy Used Textbooks

Another way to score some back-to-school savings is to purchase used textbooks. BookFinder.com searches all the bookseller websites to find the best deals on your textbooks.

24. Keep Your Receipts

If you keep your receipts and find out that items you purchased have been discounted further, then you may be able to get a price adjustment or a partial refund to make up for the price difference. Policies vary by retailer, but it doesn’t hurt to check sales after you’ve made a purchase and ask the store if they offer price adjustments.

25. Buying From Thrift Stores

Thrift stores like Goodwill or Salvation Army often have back-to-school essentials like clothing and backpacks. Plus, buying used items can be environmentally friendly. Families who are facing financial difficulty affording school supplies may qualify for assistance through various charitable organizations, such as The Salvation Army or even their local school districts.

26. Find Brand Giveaways

By following brands on social media or contacting them directly, you may get free samples or promo codes to get discounts on goods.

27. Turn in Those Rebates

Sometimes, you won’t be able to access back-to-school savings at the time of purchase. Instead, you’ll need to send in rebates. Look for products that offer rebates and remember to keep your receipts and anything else required for the savings.

28. Invest in Quality Purchases

While you may want to buy everything at discount stores, poor quality items may not even last an entire school year. For items that get a lot of use, such as a backpack, consider paying a bit more so they last. For example, you may be able to use the same high-quality, well-made backpack for several years before it wears out.

29. Use Alternatives for Your Kids’ Favorite Characters

Your child might really want a backpack with a specific character on it, but next year’s favorite character will probably be different. Buying your child a plain backpack and then adding some keychains or stickers that feature their favorite character is an inexpensive compromise that will keep your kids happy and save you big bucks.

30. Buy Reusable Items

While plastic and paper bags may be convenient, you’ll save money (and be kinder to the environment) if you buy a reusable lunch bag and containers instead. Find a lunch bag that’s easy to clean to save time as well.

31. Hold a Clothing Swap

Kids quickly grow out of clothes, so it’s not budget-friendly to buy a lot of expensive new garments. You can invite over some friends and neighbors who have kids and swap used clothing instead. Or you might try Nextdoor and see if people in your community want to see about a trade or offloading some outgrown clothes.

💡 Quick Tip: When you overdraft your checking account, you’ll likely pay a non-sufficient fund fee of, say, $35. Look into linking a savings account to your checking account as a backup to avoid that, or shop around for a bank that doesn’t charge you for overdrafting.

The Takeaway

To save on back-to-school shopping, start by creating a budget and checking what supplies you already have at home. Other smart ways to cut costs include using coupons and cash back apps, comparing prices online before purchasing, buying in bulk, hitting up the dollar store, swapping with friends/neighbors, and waiting for some items to go on sale.
Whether you’re shopping for school supplies or something more expensive (like a new appliance or a car), it’s a good idea to estimate the cost and start saving up in advance. This can help you stay on budget and avoid credit card debt. You might even set up a separate savings account earmarked for back-to-school shopping (or any other savings goals), then automate transfers into that account to help you reach your target faster.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How much money should I spend on school supplies?

The amount to spend on school supplies varies by grade and needs. According to the National Retail Federation, families with children in elementary through high school spent an average of $875 on clothing, shoes, school supplies, and electronics in 2024 (for all children in the household combined). To save money, prioritize essential items and look for sales, discounts, and secondhand items. Creating a detailed list and sticking to it can help you stay within budget and avoid overspending.

What is the 30 day rule to save money?

The 30-day rule is a budgeting strategy that can help you avoid impulse purchases. How it works: If you’re considering a nonessential purchase, put it on a mental hold for 30 days. During that time, research alternative options, compare prices, and evaluate if it’s truly a need or a want. If at the end of the waiting period, you still want the item and can afford it, go ahead and buy it. You may well decide to forgo it.

What to do if you can’t afford school supplies?

If you can’t afford school supplies, explore free or low-cost options. You might start by checking with your school for assistance programs or community resources. Also look for back-to-school sales and discounts, and consider buying used or secondhand supplies from online marketplaces or local groups. Many organizations and charities also offer school supply drives and giveaways. Friends and family may also be willing to help. Don’t hesitate to reach out for support.

About the author

Kylie Ora Lobell

Kylie Ora Lobell is a personal finance writer who covers topics such as credit cards, loans, investing, and budgeting. She has worked for major brands such as Mastercard and Visa, and her work has been featured by MoneyGeek, Slickdeals, TaxAct, and LegalZoom. Read full bio.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

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.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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.

SOBNK-Q225-065

Having a good time doesn’t have to be expensive. In fact, there are plenty of fun and interesting things to do that don’t cost any money at all.

While it may take a little more research and imagination, it’s possible to find new and entertaining activities to do on your own or with your family and friends without busting your budget.

If you’re looking for some fun ways to save money, read on. We’ve got 27 ideas.

Fun Free Things To Do

If you find that you often spend your free time binge-watching shows or scrolling through social media on your phone, it may be time to work some new activities into your repertoire. Fortunately, that doesn’t have to mean breaking out your wallet.

Consider trying one (or a few) of these fun, free activities.

1. Going on a Hike

If the weather is nice outside, then it could be time to hit the great outdoors and take a hike. You can search for nearby hikes at AllTrails.com. You’ll also be able to check out the length and difficulty of the trail, as well how long it takes to hike.

2. Volunteering with a Local Organization

Volunteering can be a great cost-free activity because it allows you to give back, potentially meet some new people, and feel good about how you spent your day. To find local volunteering opportunities, you can check out VolunteerMatch.org which matches people with local organizations that need help.

3. Playing Board Games

When looking for fun things to do with the family on the cheap, consider busting out a game of Monopoly or Life and competing against one another. You might reward the winner with a few days or a week off from their everyday chores.

4. Decluttering the House

While this might not be the first thing that comes to mind when looking for a fun way to spend your free time, cleaning and being productive can actually be very satisfying, and can also help relieve stress. You can declutter alone or get your partner or the kids involved. Consider donating your discards to a local charity or thrift store.

Recommended: Is Hiring a Cleaning Person or Service Worth It?

5. Going to a Free Museum Day

Many museums will offer free admission once a week or once a month. You can spend an afternoon browsing through the beautiful works of art without spending a dime.

6. Having a Picnic in the Park

Dining al fresco doesn’t have to be pricey if you head for a local park. A picnic can be a great way to spend a leisurely afternoon with family and friends. All you need is a blanket, lunch, a ball or Frisbee, and a shady spot.

Recommended: 13 Cheap Ways to Live

7. Streaming an Exercise Video

Gym memberships, personal trainers, and exercise classes can be expensive. However, exercise videos on YouTube and Instagram are totally free. Consider breaking out the sweats and burning some calories for free.

8. FaceTiming With Friends and Family

Just because you want to stop spending money doesn’t mean you can’t enjoy spending time with friends. Whether you prefer an old-fashioned phone call or a video call, reconnecting with an old friend or a family member you haven’t spoken with in a while can be an enjoyable, no-cost way to spend some free time.

9. Trying Meditation

Meditating can be a relaxing solo activity that helps to clear your mind and reduce stress. You can find free meditations on YouTube, or you might want to check out Headspace, which has guided meditation for beginners and offers a free trial.

💡 Quick Tip: An emergency fund or rainy day fund is an important financial safety net. Aim to have at least three to six months’ worth of basic living expenses saved in case you get a major unexpected bill or lose income.

10. Playing Free Games Online

Playing games online can be a fun way to spend a rainy afternoon with the kids. You can find free educational games for kids on sites like Funbrain, PBS KIDS, and Khan Academy Kids.

11. Going to the Beach Off Hours

Hitting the beach in the late afternoon or early morning is often free. At these times you’re also likely to find fewer crowds, as well as beautiful light.

Recommended: 10 Ways to Avoid Paying Full Price for Anything

12. Starting a Journal

Journaling can be a great way to get things off your mind, collect your thoughts, and even come up with solutions to nagging problems. All you need is a pen and an old notebook to get started.

13. Visiting Your Local Library

You can not only find great books to read at your local library, but also pick up DVDs, CDs, and audio books without spending a dime. You might also be able to attend a lecture, film screening, or other free community event.

14. Cooking Something New

Consider shopping your cupboard, fridge, and freezer, and then looking for something you can make with what you have on hand. You can find plenty of free recipes at sites like Allrecipes and Food Network.

15. Checking Out a Fire Station

Kids typically love fire trucks. Consider reaching out to your local fire station to see if they offer tours. This is not only a fun, free family activity, but allows kids to learn all about how the fire department works while meeting their local heroes.

16. Making a Movie

Whether you have a video camera or just a smartphone, you have what you need to make a short film. You can have everyone in the family pitch in to create a storyline, sets, costumes, and props. You can then edit the film and share it online.

17. Learning a New Skill

Whether you want to get better at applying makeup or have always wanted to learn how to juggle or knit a scarf, you can likely find a great tutorial on YouTube.

Recommended: Ways to Control Excessive Spending Habits

18. Going to Local Historical Site

There are likely a number of places around town where you and your family can soak up some local history without busting your budget. Many towns also offer free walking tours.

19. Attending a Free Concert

During the summer, many cities and towns will put on free concerts for everyone to enjoy. You might even bring a blanket and dinner for a nice evening out.

💡 Quick Tip: Want a simple way to save more everyday? When you turn on Roundups, all of your debit card purchases are automatically rounded up to the next dollar and deposited into your online savings account.

20. Doing a Puzzle

Putting together a large puzzle can be a fun and challenging activity to do alone or with friends and family. If you are tired of the ones you own, consider trading puzzles with a friend or neighbor so you have something new to tackle.

21. Camping in the Backyard

In warmer weather, camping in the backyard offers an opportunity for fun, free adventure with the kids. If you don’t have a tent, consider borrowing one for the night. You can make a fire (or light up the grill) to roast marshmallows and tell ghost stories before bed.

22. Starting a Book Club

While this can take a little planning, book clubs are relatively easy to set up. You can create a private book club on Facebook or another social media platform. Or, you can recruit a group of book-loving friends to meet once a month at each other’s homes.

23. Washing the Car

You can have fun and accomplish something at the same time by getting your kids involved in washing the car. You could even host a neighborhood car wash so the kiddos can earn some pocket money.

24. Heading to the Dog Park

This can obviously be a great idea if you have a dog, but can also be entertaining if you don’t. You can grab a bench and have fun watching cute dogs run around and play. Dog parks can also be fun for people watching.

Recommended: 19 Tips to Save Money on Pets

25. Trying a New Playground

Your kids probably know all the local playgrounds pretty well. For a change of pace, consider checking out a playground you’ve never been to in a town nearby. Pack a lunch to make it feel like a mini-vacation.

26. Writing a Letter

Writing letters may seem old-fashioned, but it can be a nice way to communicate with your loved ones. The letter can be handwritten and sent via snail mail, or you might just want to send an email updating a friend or family member about what’s going on in your life.

27. Building a Fort

Kids typically love building forts. On a cold or rainy day, you can have an indoor adventure by breaking out some chairs and blankets and letting the kids create their own little hideaway filled with their favorite books and toys. They may even wind up sleeping in the fort for the night.

The Takeaway

It can take thinking a little outside the box and a bit of planning, but it’s possible to entertain yourself and your family with fun new activities without putting a dent in your checking or savings account.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What can you do for fun with no money?

Enjoy free activities like hiking, picnics, visiting local parks, and attending community events. Or you might read books from the library, play board games, start a DIY project, or connect with friends for game nights or potlucks. Also consider starting, or engaging in, a creative hobby like drawing, writing, or photography. There are plenty of enjoyable activities that don’t require spending much (or any) money.

How to enjoy without spending money?

Find joy in simple, free activities. You might spend time in nature, have a picnic in a local park, or explore a new neighborhood. Or you could read books from the library, watch free movies online, or attend community events. If you’re creative, consider engaging in a hobby like drawing, writing, or photography. Prefer to be social? Host a game night or potluck dinner with friends. Happiness doesn’t always come with a price tag.

What should you do with money you don’t spend?

Unspent money should be put to good use. Pay off high-interest debt, build an emergency fund, or contribute to a savings account for a specific purpose (such as a vacation or a new car). Or, you might use unspent funds to invest in long-term goals like retirement or your child’s future education.

About the author

Kylie Ora Lobell

Kylie Ora Lobell is a personal finance writer who covers topics such as credit cards, loans, investing, and budgeting. She has worked for major brands such as Mastercard and Visa, and her work has been featured by MoneyGeek, Slickdeals, TaxAct, and LegalZoom. Read full bio.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

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.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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.

SOBNK-Q225-060

We won’t sugarcoat it: Music festivals can cost a lot. Weekend passes are often several hundred dollars and don’t include travel expenses and other extras. That doesn’t mean you should skip music festivals altogether. The events are a great way to sample many different artists, meet people, and enjoy time outdoors.

Keep reading to learn more about the average cost of going to a music festival, the main expenses to consider, and how to make attending one of these events more affordable.

What Is the Average Cost of a Popular Music Festival?

The average cost of music festival tickets — typically for an event that lasts several days — ranges from $200 to $600. If travel is required, expenses can shoot up quickly: Spending $2,000+ for a long weekend is not unusual. Transportation and lodging are often premium-priced during a festival, since businesses know they can get top dollar.

Music festival costs also depend on where the festival is located and the type of experience the attendee is looking to have. Camping out will save you money, as will skipping the VIP experience for basic tickets bought at early-bird pricing.

Main Expenses to Consider When Going to a Music Festival

Because everyone’s music festival experience looks different, costs can vary. That said, these are the common music festival expenses worth planning for.

Tickets

Tickets for a multi-day event can cost hundreds of dollars. For instance, in 2025, general admission (including fees) to Coachella is approximately $550, Stagecoach is close to $400, and Lollapalooza runs around $385.

Costs will vary depending on when you buy tickets (they generally get more expensive closer to the actual performance date), and whether you decide to shell out for the VIP options. Also keep in mind that tickets typically don’t include parking, food, or any accommodations.

Travel

Don’t forget to budget for travel for out-of-town events. Driving may cost less than flying, and if you opt to travel via camper, it could save you money on hotels. Just keep in mind that the cost of gas for driving an RV can be high.

These tips on saving up for a vacation can help you project your travel costs.

Recommended: Let SoFi help you map out your next trip.

Transportation

Even if you live nearby, you may need to pay for a rideshare or shuttle pass to get to the event. At the very least, remember to account for gas and parking.

Lodging

Music festivals attract large crowds and visitors from around the world. That means local hotel and home rental costs can become inflated. Book early to avoid overpaying once pickings are slim.

Meals

Because music festivals have their attendees held somewhat captive for the day or days of the event, the food and drinks for sale there can be exorbitant. Think about what you pay at a concert or in an airport to get a sense of what you might need to pay.

Clothing

Part of the fun for many festival-goers is planning what you’ll wear. Sure, some people are happy in their usual jeans and a T-shirt, but if you want to buy some new clothes or accessories before a music festival — be honest! — add those costs to your budget.

Recommended: 15 Ways to Save Money on Clothes

Tips for Saving Money on a Music Festival

The price tag for a music festival experience can be steep, but it can also be an amazing and memorable experience. Here are some ways to bring the costs down so you can be part of the fun.

Project Your Expenses

From tickets to transportation to food, plan out what the day or weekend will entail cost-wise and make a budget. If you can plan for this outing well in advance, you can slowly save up for it so your overall budget doesn’t take a major hit.

Once you know the total amount needed, you can divide that by the number of months until it’s time to pay for your expenses. The figure you see is how much you should save monthly to afford the festival.

💡 Quick Tip: Want a simple way to save more each month? Grow your personal savings by opening an online savings account. SoFi offers high-interest savings accounts with no account fees. Open your savings account today!

Take a Pass on VIP Tickets

Music festivals often have different tiers of tickets and offer some sort of VIP experience for a much higher price than the cost of general admission. You may want to skip these overpriced tickets, and spend the money on food or transportation instead.

Buy Tickets Early

Some music festivals offer cheaper tickets for people who book early, so don’t sleep on those good deals. If possible, save up before tickets go on sale to take advantage of early booking deals.

Book Travel Far in Advance

It can be possible to save on travel and lodging by booking those things sooner rather than later as well. (This is a wise move when trying to save money for a trip of any kind.) Once your festival tickets are booked, try to find some travel deals. When flights and hotels get down to the last few available options, prices tend to soar.

BYO Food and Water

If allowed, pack food and lots of water to avoid overspending on food and drinks at the event. Bonus: You’ll spend less time in line and more time enjoying the music. Some music festivals won’t allow attendees to bring in their own food, but most allow water from outside sources. Not overspending on water is a great way to save money and stay hydrated while out in the sun all day.

Volunteer

Some music festivals offer volunteers the chance to trade work for access to the festival. It’s always worth seeing whether such opportunities are available — they may very well be worth the trade-off.

Walk Whenever You Can

If you’re staying nearby, try walking to the event. Parking is often expensive at music festivals, and ride-share prices surge as well due to high demand.

Camp Out

Because it can be hard for the many attendees of music festivals to find affordable lodging nearby, some music festivals are held at campgrounds. Camping generally costs significantly less than hotels, and it can add to the fun of the weekend.

The Takeaway

Music festival costs can vary greatly, but the major ones are undeniably expensive. Planning ahead for these events is one of the best ways to manage costs. By booking early, camping instead of staying at a hotel, and considering volunteer opportunities on-site, you may be able to listen to your fill of music and still have money in the bank.

If you’re looking to save up for a music festival or other short-term goal, SoFi has you covered.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

Why are music festivals so expensive?

Attending music festivals can be expensive these days. For one reason, higher artist fees have led to higher ticket prices. Organizers also have to cover the cost of the space, set-up, advertising, and more. Fans not only have to pay for tickets but also cover the cost of traveling to the event, staying in a hotel or campground, and food and drinks at the venue.

How much does it cost to hold the festival?

The cost of holding a music festival varies widely depending on the size and scale of the event. A small, local music fair might cost $5,000 to $20,000, while a large-scale, multi-day festival featuring top tier artists can run well into the millions.

Should I use my emergency fund for a festival?

Emergency funds are a type of savings fund specifically earmarked for unexpected expenses that interrupt daily life, such as a car repair, medical bill, or loss of one’s income. Since a music festival is a planned expense, you generally do not want to tap your emergency fund for this. Instead, it’s better to gradually save up for the cost of the festival in advance.

Should you layaway your festival tickets?

Using layaway can make buying a festival ticket more manageable by spreading the cost over several months. However, there are some downsides and risks. For one, committing to a payment plan may strain your finances if an unexpected expense crops up. Also in some cases, failure to complete the payment plan leads to forfeiting the ticket — and the money you’ve already paid. In addition, some layaway plans charge service fees, which can increase the overall cost of the ticket. In general, it’s better to create a budget for attending a music festival and to save up for the tickets in advance.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

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.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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.

SOBNK-Q225-058