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A drawee in banking is the entity that has been asked to pay a sum of money to a person who presents a check or a similar financial instrument. If your employer (the drawer) were to write a check to you (the payee), the bank would be the drawee.

Knowing the definition of drawee can help you understand banking and legal terminology, which can help build your financial literacy. Read on to learn more about what a drawee in banking is.

Understanding Drawees

While the term drawee is not one that is often used by people, it plays a crucial role in the finance industry. Understanding what a drawee is can help you if you ever receive or write checks.

Definition of a Drawee

The definition of a drawee is a person or company (often a bank or other financial institution) that has been directed to pay someone presenting a financial instrument — often a check. The person presenting the check is usually referred to as the payee, and the payor (or drawer on a check) is the person who issued the check.

Role in Banking Transactions

While the term drawee may be relatively obscure, it plays a key role in banking transactions. Without a drawee as an intermediary, it would be much more difficult, or perhaps even impossible in some cases, to cash or deposit a check. When you deposit or cash a check, the drawee is the one that contacts the payor (or their bank) to withdraw the funds to give to you.

Without a drawee, you would have to contact the payor’s bank directly to receive your funds. This might or might not be successful.

Drawee in the Context of Checks

While the concept of a drawee does exist in other areas besides checks (most notably in coupons presented to a retail store), it is most commonly used in banking when someone writes a check.

If you receive a check and try to cash it or deposit the check into an account such as a high-yield checking account, the bank or check-cashing service where you present the check will serve as the drawee. They will manage the transaction, contacting the individual or company that wrote the check (or their bank) to help facilitate the transfer of funds.

Importance of the Drawee

A drawee can be very important in helping to ensure the easy and quick transfer of funds between people or companies with accounts at different banks.

Facilitating Financial Transactions

One of the most important roles of a drawee is in helping to facilitate financial transactions, such as sending money between accounts. Whether using online or traditional banking, one of the most common bank transactions is moving money to someone else at a different account (such as by writing checks). A drawee plays a crucial role as an intermediary in this process.

Risk Management

A drawee can also help with risk management. Since it usually serves as an intermediary, it can help to lower the overall risk of the check writing process. It’s common for a drawee to be a bank, and these financial institutions usually will hold onto funds for a couple days before releasing them. This process (you may know it as waiting for a check to clear) helps to lower the overall default risk of the transaction.

Legal Implications

With a drawee as an intermediary in the process of writing and depositing a check, you as the payee are generally not liable for errors or mistakes on the check. When a drawee accepts a check for payment, they are often considered primarily liable for any errors, omissions, or mistakes on the check.

Rights and Obligations of the Drawee

When a drawee accepts a check for payment, they take upon themselves the obligation to honor any valid checks that are presented. They also do have the right to return what are known as dishonored items (such as if the payor’s account has non-sufficient funds). The drawee also assumes primary liability for any errors, omissions or mistakes on the check when it is presented. This is why banks or other financial institutions will generally make sure to review a check before they accept it and pay out any funds.

Recommended: APY Calculator

The Drawee Relationship

There are three main actors in the drawee relationship — the drawee and the drawer of a check (sometimes referred to as the payor), along with the payee.

Relationship With the Drawer

The person who writes a check or other financial instrument for payment is commonly referred to as the drawer (sometimes also called the payor). The drawer includes their routing and account number on the check before giving it to their customer as payment for an item or service. These routing and account numbers help the drawee to facilitate the transfer of money from one account to another.

Relationship With the Payee

The person who presents a check to a drawee for payment is usually referred to as the payee. It is common (though not required) that the payee have a checking account or other relationship with the bank that is serving as the drawee. This can help to mitigate the risk for the drawee, since they have a contact they can reach out to in case there are any errors with the check as it was presented.

It’s also worth noting that you can often cash a check at the bank it was drawn on, without having an account there but by providing appropriate ID (and the bank verifying that the funds are available).

Intermediaries Involved

If the drawer of a check has an account at a different bank than the one that is serving as the drawee, there may be other intermediaries involved in the process. One of the most common networks of financial institutions is the Automated Clearing House (ACH), but there are other similar networks as well. These intermediaries help the drawee to facilitate the process of cashing or depositing a check.

Recommended: 23 Ways to Make Quick Cash

The Takeaway

A drawee is one of three important actors in certain types of financial transactions, most commonly when a check is written and deposited or cashed. The drawee is usually a bank that accepts a check or other financial instrument and pays out the money. The payee is the person who presents the check for payment, and the payor or drawer is the person or entity that wrote the check. While the term drawee is fairly uncommon in everyday speech, drawees play a crucial role in the process of transferring money between people with accounts at different banks.

Looking for a bank account that helps you transfer money, quickly and easily? See what SoFi offers.

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 is the difference between a drawer and drawee in banking?

In a financial transaction, the drawer is the party (such as an employer) that directs the drawee to transfer funds to a payee. The drawee is the entity (such as a financial institution) that actually distributes a specified sum to the recipient. So if you did a freelance gig and were paid by the Acme Company, that business is the drawer, and the bank that cashes the check they gave you is the drawee.

What is the role of the drawee?

Usually, the drawee is the entity that facilitates a transfer between a drawer (or payor) and payee. In many situations, the drawee is the bank or check-cashing service involved in cashing or depositing a check that a drawer provides to a payee.

Photo credit: iStock/AndreyPopov

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 12/23/25. 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.

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-Q324-114

It’s possible to overdraft your account with a debit card if you have signed up for your bank’s overdraft coverage, which can enable a transaction to go through even when the account is short of the funds needed to cover it. However, you may wind up paying expensive overdraft fees on your purchase or withdrawal.

Overdraft fees have been around for so long now, many consumers may simply accept them as a cost of doing business with their bank or credit union. But you may not want to do so. Read on for a closer look at what opting into your bank’s overdraft service could mean specifically for debit card transactions.

What Does It Mean to Overdraft With Your Debit Card?

Overdrafting with a debit card means that you may spend more money than you actually have in the account.

If you don’t have enough money in your bank account to cover a debit card transaction, you can expect one of two things to happen.

•  Your bank may decline your request, leaving you empty-handed at the cash register or ATM.

•  Your bank could allow the transaction to go through. Technically, you will have overdrawn your account, because your account balance will fall below zero. But you’ll get what you wanted — some cash, a latte, movie tickets, etc. And you’ll be saved from potential embarrassment in front of co-workers or friends.

The second outcome may seem more satisfying, at least for the short-term. But there’s a catch: Your bank may only let the transaction go through if you participate in its overdraft coverage or protection program, and you can be charged a fee for this service.

What Is Overdraft Coverage vs. Overdraft Protection?

Many financial institutions offer overdraft programs that will let your transactions go through, at least temporarily, if you don’t have enough money in your account. But the rules — and fees — for this service can vary significantly from one bank and bank account to the next, so it’s important to understand what you’re signing up for.

Standard Overdraft Coverage

Many banks offer some type of standard overdraft coverage for their consumer checking accounts. Generally, if you overdraw your account with a check, automatic bill payments, or recurring debit card transactions, the bank may process the transaction anyway (at its discretion and usually up to a certain limit). But it will typically cost you: Your bank may charge an overdraft fee. And you’ll still have to get your account back in the black ASAP to avoid multiple fees. So while you can overdraft a debit card with no money in your account, it can get pricey.

Overdraft Protection

Overdraft protection services work a little bit differently. With this type of program, you can designate a backup account (a savings account, credit card, or line of credit, for example) to cover any shortfalls. The bank will automatically transfer money to your overdrawn checking account.

You’ll likely still be charged for this service, but this “transfer fee” may be lower than the bank’s overdraft fee. Before opting into any overdraft program, it’s important to understand the specific terms and fees.

How Are Debit Card Overdrafts Different?

You may not have a choice when it comes to paying fees when you overdraw your account with a check or automated clearing house (ACH) payments. If the bank approves the transaction, you can expect to pay an overdraft fee. If it declines the transaction, you’ll likely face a non-sufficient funds (NSF) fee. This charge means that even though the transaction wasn’t completed, you still will pay for the inconvenience the bank experienced due to the situation.

But your bank can’t charge you fees for overdrafts on most debit card transactions unless you have specifically opted in to those charges.

Opt-In vs. Opt-Out Policies

Deciding whether you want or don’t want to pay overdraft fees on debit card transactions can be a pretty complicated decision. Policymakers at the Federal Reserve decided in 2010 to change the previous process that involved having to opt out of overdraft coverage (that is, customers could be automatically enrolled in the service). Since then, bank customers have to opt in by signing paperwork that says they understand the fees and they want their bank to process their debit card transactions even when they’re short of funds.

•  If you opt in to debit card and ATM overdraft coverage, you can expect withdrawals and purchases to go through even if you don’t have enough funds in the bank at the time of the transaction. But you will likely be charged a fee in exchange for this service. (See below for pricing specifics.)

•  If you don’t opt in to debit card and ATM overdraft coverage, you may experience one-time ATM withdrawals and debit purchases being declined if you don’t have enough money in your account at the time of the transaction. You can avoid paying an overdraft fee for those transactions, but it will be up to you whether you want to use a credit card or some other method to complete the transaction.

•  Keep in mind, though, that even if you don’t opt in to overdraft coverage for your debit card, you could still face fees. If you’re short of funds when the bank processes an automatic payment through your debit card — for a gym membership or subscription service, for example — you might face an overdraft fee if the bank chooses to complete the transaction. And if the payment is declined, you may be charged an NSF fee.

Recommended: How to Get a Debit Card

Costs and Fees Associated With Overdraft Services

Federal regulators have proposed lowering overdraft fees to as little as $3, but currently they average around $26 to $27. And though some banks don’t charge overdraft fees on checking accounts, 94% of accounts at financial institutions still have them, according to a recent survey. And they can run as high as $38 or so.

Some banks also may charge what are known as “continuous” overdraft fees, or daily overdraft fees. These are charges assessed every day the account remains overdrawn, and the fees can add up quickly.

Your bank may waive the fee on a smaller purchase. Also, if it’s the first time you’ve overdrawn your account — or it’s been a while since you did so — the bank might remove the fee if you call and ask.

Should You Overdraft With a Debit Card?

If you’ve opted in to debit card overdraft coverage, it may seem worth the risk of overdrafting if you need some quick cash or to fill your gas tank in a pinch when you’re low on funds. But if you have other resources (whether it’s a credit card or a piggy bank), you might want to tap those first. Keep potential fees in mind — not to mention the stress of knowing your checking account will have a negative balance — as you ponder this strategy.

Recommended: 10 Personal Finance Basics

How to Avoid Overdraft Fees

Understanding how opt-in overdraft coverage works is one way to avoid triggering unnecessary bank fees. But there are other proactive steps you may want to consider, as well, including the following:

Choose a Bank That Doesn’t Charge Overdraft Fees

Some banks don’t charge overdraft fees; often, they cover you up to a specific overdraft limit, such as $50. Others may offer one or two fee-free account options. (If bank fees overall are an issue for you, keep in mind that online banks often have lower costs than traditional brick-and-mortar institutions.)

Use Credit Cards for Emergency Expenses

If you have a relatively low-interest credit card or you’re able to pay off your credit card balance every month to avoid accruing interest, it may make sense to use your credit card for emergency expenses. Thinking about which card you’re going to use before an emergency comes up could help you make the best decision.

Link Accounts for Overdraft Protection

Linking your checking and savings accounts can allow your bank to quickly move funds to cover negative balances. Though you might pay a transfer fee, it’s usually less than an overdraft fee.

Build an Emergency Fund

Having an emergency fund that can cover three to six months’ worth of expenses is a good goal, but even a smaller amount of savings may allow you to deal with the kinds of unexpected expenses that can trigger debit card overdrafts. A high-yield savings account can help you grow your money while also keeping it accessible.

Steps to Help You Better Manage Your Debit Card

If the convenience of using a debit card has made it your go-to tool for accessing cash and making purchases throughout the day, there are steps you can take to prevent overdrafts.

Monitor Your Accounts

Using a tracking tool to monitor your checking account and other account balances, can help you avoid an overdraft.

Set Up Low Balance and Other Alerts

If your bank offers account alerts, consider setting up a notification so you know when your checking account balance is getting low.

Know When Your Bills Are Due

Putting together a budget can help you pay your bills on time and organize your payment dates. Then, you might also see if you can move some payment dates. For instance, you could ask your credit card issuer to shift your date. That way, your checking account won’t be drained due to having so many payments in the same pay week or pay period.

The Takeaway

You may be able to overdraft your debit card transactions if you have overdraft coverage. This means your bank will cover the transaction, but you will likely be charged a fee for this privilege. If you choose not to opt into your bank’s standard overdraft coverage, there’s a good chance that a debit card transaction that would take your account into a negative balance would be denied.

The rules and fees for overdrawing your account with a check, automatic payment, or debit card can vary significantly depending on where you bank, so it’s a good idea to read all the paperwork you receive when you sign up for an 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 happens if I overdraw with my debit card without overdraft coverage?

Here’s what happens if you overdraft with a debit card: If you don’t have overdraft coverage and you don’t have enough money in your bank account to cover the transaction you’re trying to make, your bank will likely decline the purchase or withdrawal. You won’t overdraft your account and you won’t have to worry about paying an overdraft fee, but you will have to find another way to finance your transaction or skip it.

How much does overdraft coverage typically cost?

Overdraft fees can vary depending on the bank and other factors, including whether you have a backup account or credit card linked to your checking account. One recent survey found an average fee of around $26 or $27. That said, there is a movement afoot to lower these fees considerably which may or may not impact future charges.

Can I overdraft using my debit card at an ATM?

If you’ve opted in to your bank’s overdraft coverage, your ATM withdrawal may go through, even if you withdraw more than you actually have in your account. You can expect to be charged an overdraft fee for this service. If you don’t opt in to overdraft coverage, the transaction will likely be declined, and you won’t be charged an overdraft fee, but you won’t be able to access the funds you’re seeking.

Photo credit: iStock/megaflopp

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 12/23/25. 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.

SOBNK-Q324-080

Veterans have access to various scholarship and grant opportunities that can lessen the financial burden of pursuing ongoing education. These unique financial aid programs are sometimes also available to military families, which may include dependents or spouses of veterans.

If you’re a veteran who’s enrolling in college or have a dependent in your family who’s collegebound, we’ve created this guide to scholarships and grants for veterans to get you started.

Best Scholarships for Military Veterans

There are many scholarship programs available for military veterans and their dependents, all of which have different eligibility and application requirements. Below are just a handful of scholarships for veterans, or their dependents or spouses, that offer awards that are $2,000 or higher.

•   Pat Tillman Foundation Scholarship: The Pat Tillman Foundation Scholarship is a merit-based scholarship program that’s available to active duty and veteran military service members, including their current or surviving spouses. The average recipient receives approximately $10,000 per academic year and awards are renewable as long as you maintain eligibility requirements.

•   Folds of Honor Scholarship: The Folds of Honor Scholarship is available to dependents and spouses of a qualifying service member. Dependents must be enrolled in an accredited institution, a certificate- or license-granting technical, or a trade school program. The scholarship offers $5,000 per academic year, which is disbursed in amounts up to $2,500 per term. Awards are renewable, but recipients must reapply for each academic year.

•   AMVETS Scholarships: AMVETS Scholarships are a need-based program that’s open to veterans, active duty, and National Guard and Reserve service members and their families. The maximum award is $12,000. Applicants must be studying toward an undergraduate degree and meet other eligibility requirements.

•   Military Order of the Purple Heart Scholarship: Recipients of a Purple Heart who are members of the organization and their families — including spouses, children, grandchildren, and great-grandchildren — can apply for this scholarship program. Scholarship amounts vary each year and are based on available funding.

Another scholarship option is SoFi’s scholarship sweepstakes. It offers one $2,500 scholarship award per month over a 12-month period. Entry is available to SoFi members who are at least 17 years old and enrolled in an accredited, nonprofit, Title IV four-year college or university in the U.S. You can enter once per monthly scholarship period. Awards are sent directly to the winner’s school and can be used toward your cost of attendance.

Grants for Veterans

Grants are another type of college financial aid which doesn’t need to be repaid. Some grants require applicants to meet specific eligibility criteria. If your military family fits the program’s application requirements, a grant award can help make college costs more accessible.

Below are two grants veterans or their family members may qualify for.

The Iraq and Afghanistan Service Grant

The Iraq and Afghanistan Service Grant is a federal grant that’s offered by the U.S. Department of Education. It’s uniquely available to students whose parent or guardian died in active duty while serving in Iraq or Afghanistan, post-9/11. The available award is equal to the maximum Federal Pell Grant during the award year; in 2024-25 the amount is $7,395.

To qualify, veteran dependents must meet the Federal Pell Grant eligibility requirements but must not have received a Federal Pell Grant award in the same year. Additionally, recipients must have been under 24 years old or at least a part-time college student at the time of their parent or guardian death.

General Henry H. Arnold Education Grant

The General Henry H. Arnold Education Grant is provided by the Air Force Aid Society (AFAS). Children under 24 years old who are dependents of qualifying U.S. Air Force or U.S. Space Force members, as well as legally married spouses of Air Force or Space Force service members, can apply. Award amounts vary based on the recipient’s financial need.

Applicants must have graduated high school and be enrolled in an undergraduate program at an accredited school that participates in federal aid programs. You must maintain a cumulative minimum GPA of 2.0 and not be a graduate or professional student, veteran, or military branch member, including the National guard or Reserves.

Veterans Affairs Educational Benefits

Veterans have earned a slew of education benefits that can help them — and under some programs, their families — financially pursue higher education or career training. The list of programs you might have access to through Veterans Affairs (VA) include:

•   Montgomery GI Bill for Active Duty

•   Montgomery GI Bill for Selected Reserve

•   Post-9/11 GI Bill

•   Reserve Educational Assistance Program

•   Post-Vietnam era Education Assistance Program

•   National Call to Service

•   Survivors’ and Dependents’ Educational Assistance

Depending on your service background, you might be eligible for multiple VA education benefit programs. Additionally, you can receive financial support to help pay for books and supplies, test fees for licenses or certifications, national exam fees, and more.

Recommended: What Are Student Loans for Military Dependents?

Grants for Active Duty Servicemembers

Financial aid grants aren’t just for veterans and their families. Service members can also apply for grant programs while in active duty.

One option to explore is the Federal Pell Grant, which is available to undergraduate students who demonstrate exceptional financial need and are enrolled in a U.S. school. As a federal financial aid program, applying for a Pell Grant only takes submitting a Free Application for Federal Student Aid (FAFSA). If you qualify, the maximum Pell Grant award for the 2024-25 academic year is $7,395, though this award might vary year over year.

Recommended: How to Complete the FAFSA Step by Step

Can I Get a Scholarship if My Grandfather Was in the Military?

GI Bill benefits are reserved for the service member’s education or that of their spouse or children. However, grandchildren of military service members also have access to some scholarships for veterans.

For example, the AMVETS Scholarship is also available to grandchildren of veterans and active duty U.S. military members. Grandchildren of active duty National Guard or Reserves members are also eligible.

What Qualifies You as a Veteran for FAFSA?

Unlike the criteria for veteran status under the VA, the FAFSA defines veterans as a service member who served in active duty for a minimum of one day and was released.

The condition for release must not be dishonorable discharge. Time spent by service members in basic training — except those in the National Guard and Reservists — also qualifies as active duty under the FAFSA.

The Takeaway

Utilizing your VA education benefits, including all eligible GI Bill benefits, is the first step you can take to help pay for college costs. Applying for scholarships for veterans, or for dependents or spouses of veterans, can make higher education or career training accessible for you and your family.

In addition to military scholarships, you can apply for traditional scholarships and grants to help pay for college. You can also apply for 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

Does the VA offer college scholarships?

Yes, the VA offers college scholarships through programs like the Post-9/11 GI Bill and Survivors’ and Dependents’ Educational Assistance (DEA). These scholarships help cover tuition and education costs for veterans, active duty service members, and their dependents, providing financial support for higher education and career advancement opportunities.

Can veterans apply for FAFSA?

Yes, veterans can apply for the FAFSA. In fact, some grants and scholarships for veterans require a submitted FAFSA for the award year as part of their application requirements.

What is it called when the VA pays for college?

The VA benefit that pays for service members’ college and training expenses is called the GI Bill. The Department of Veteran Affairs website offers a helpful GI Bill Comparison Tool that lets you see and compare GI Benefits across approved institutions.

Photo credit: iStock/SDI Productions

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).

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Top 15 First-Generation Scholarships for Students

Being the first one in your family to go to college is a big deal and an accomplishment to be celebrated. But navigating the process of applying for college, and figuring out how to pay for it, can be more challenging for a student whose parents didn’t attend college. First-generation students are often more likely to qualify as low-income and face financial obstacles when it comes to affording college.

Scholarships, which are financial awards that don’t have to be paid back, are a great way for students to cover the various costs of their education. When you’re a first-generation college student, you have access to a multitude of scholarships created especially for you.

Read on to learn about 15 of the top scholarships for first-generation college students and tips on finding even more of these financial awards.

Are You the First in Your Family to Attend College?

When it comes to explaining what a first-generation college student is, there’s no clear cut definition. However, according to The Higher Education Act of 1965, a first-generation student refers to a student whose parents, or in the case of a single-parent household, one parent, who didn’t earn a bachelor’s degree.

While this is a widespread guideline, colleges or universities can set their own criteria. For example, sometimes a first-generation student is considered someone who is the first to attend school in the U.S., meaning their parents could have earned their degrees in another country.

The Ultimate List of First-Generation College Student Scholarships

Scholarships help students better afford school, and in some cases even do away with the need to take out a federal or private student loan. At the very least, it can limit the amount of money you have to borrow.

These 15 scholarships are specifically set up for students who are the first in their family to go to college. Some are merit-based, some are need-based, and some are a combination of both. There are also first-generation scholarships geared towards minority students and underrepresented segments of the population.

Read on for first-generation scholarships to consider and, where applicable, the prize amount, number of awardees, and deadline date.

1. Coca-Cola First Generation Scholarship

The Coca-Cola First Generation Scholarship, funded by the Coca-Cola Foundation , allocates funds in the form of grants to a number of colleges each year. There’s no direct application process through the Coca-Cola Foundation because schools distribute these prizes directly through their financial aid offices.

To find out if a college is a recipient of this money, the Coca-Cola Foundation advises students to contact the college’s financial aid department.

2. Fontana Transport Inc. Scholars Program

The Fontana Transport Inc. Scholars Program is for first-generation high school seniors who are underrepresented, are in financial need, and are passionate about furthering their education as a way to help themselves, their family, and their community. This scholarship of up to $5,000 is awarded to one winner, and the deadline is March 14, 2025.

To qualify, applicants need to pursue a full-time undergrad degree at any four-year accredited college or university in the U.S. Applicants of this scholarship must plan to study in one of the following areas: transportation management, math, science, engineering, architecture, environmental design, pre-med, psychology, or Spanish language/literature.

3. First Generation Civil Rights Fellowship Program (FirstGEN)

FirstGEN , or the First Generation Civil Rights Fellowship Program, is a program for first-generation undergraduate students who intend to pursue a career in the field of social justice. This paid summer program lasts from June to August, and recipients of the fellowship will serve as a summer intern with one of FirstGEN Fellowship’s partners: Lawyer’s Committee for Civil Rights Under Law, Asian Americans Advancing Justice (AAJC), or the National Immigration Law Center (NILC).

Over the course of their summer internship, FirstGEN fellows gain experience advocating for civil rights, participating in training and professional development seminars, and becoming part of a group of emerging leaders in the FirstGEN Alumni Network.

Fellows receive a $1,500 stipend, and the estimated deadline is January 20, 2025.

4. Institute for Study Abroad (IFSA) First-Generation College Student Scholarship

This scholarship offers a financial award for first-generation college students who want to study abroad. The IFSA First-Generation College Student Scholarship awards up to $2,500 to help offset upfront costs of studying abroad including airfare, visa/passport, and housing.
Application deadlines for summer, fall, or year terms are March 1, and October 1 for January and spring terms.

5. Boyd J. Cameron Memorial Scholarship

First-generation college students can apply for the Boyd J. Cameron Memorial Scholarship . The $1,000 prize is specifically for those students who are pursuing a degree in business. Application deadline is February 1, 2025.

6. OCA-UPS Gold Mountain Scholarship for Rising College Seniors

Applicants for OCA-UPS Gold Mountain Scholarship must be first-generation high school seniors who identify as either Asian-American or Pacific Islander, and who will be attending college right after high school graduation.

To be eligible, students don’t have to be a U.S. citizen, and the scholarship is open to DACA and undocumented students, as long as they can provide a Social Security number or an Individual Taxpayer Identification Number. Awards are $2,000 each.

Recommended: Can DACA Recipients Apply for Student Loans?

7. The Kim and Harold Louie Foundation Scholarship

Students who are the first in their family to attend college are eligible to apply for The Kim and Harold Louie Foundation Scholarship . Award amounts vary, but the organization anticipates giving out approximately $100,000 in annual scholarships.

The scholarship is specifically for those who will be enrolling as a freshman in a college or university in the U.S., but it’s not just limited to high school seniors. Students who decided to take a gap year or adults returning to school are also allowed to apply. Scholarship recipients should have displayed academic merit, outstanding personal achievement, leadership qualities, and/or participation in community service.

Deadline for this scholarship is March 15, 2025.

8. Sharon and Mila Kohute Scholarship

Female first-generation high school seniors or college undergraduates who live in Ohio, Pennsylvania, West Virginia, or Virginia are eligible to apply for the Sharon and Mila Kohute Scholarship .

The aim of this need-based award is to help give women, who may be part of a cycle of generational poverty, the opportunity to attend college. This scholarship is awarded annually to two winners, each of whom receive $1,000 to use toward their education.

9. Editor World First-Generation Scholarship

If you’re a first-generation student about to enroll, or are currently enrolled, at a trade school, college, or university in the U.S., you’re eligible to apply for the Editor World First-Generation Scholarship . The $500 scholarship is awarded to one undergraduate first-generation student who could use some assistance with educational costs.

10. National Society of Collegiate Scholars First in the Family Scholarship

The National Society of Collegiate Scholars (NSCS) has partnered with GEICO to offer many scholarships, including the First in the Family Scholarship . This particular scholarship is created for those first-generation students who are honor society members at one of more than 300 colleges and universities in the U.S., including Washington D.C. and Puerto Rico.

Eight students will be chosen for a $2,500 NSCS scholarship. To be eligible to apply for one of the NSCS First in the Family scholarships, students must be a member of NSCS and show proof of a 3.0 GPA. Deadlines for this scholarship vary.

11. José Ventura and Margarita Melendez Mexican-American Scholarship Fund

Students who are Mexican or Mexican-American and either are, or will be, a first-generation undergraduate college student are eligible to apply for the José Ventura and Margarita Melendez Mexican-American Scholarship .

The $1,000 scholarship will go to two individuals, and applicants will be asked to submit a short essay about why they’re passionate about being a first-generation, Mexican-American college graduate. The application deadline is December 2, 2024.

12. Kadzai Law Group First-Generation College Student Scholarship

First-generation U.S. citizens or permanent residents who are attending an accredited college or institution in the U.S. can apply for the Kadzai Law Group First-Generation College Student Scholarship . The scholarship awards one student with $2,500, and is open to both undergraduate and graduate students.

Applicants will have to submit a three- to five-minute video discussing challenges facing a first-generation student and how the experience either will provide benefits for you (if you’re a first-time freshman) or has provided benefits for you. The deadline for applying for this award is April 2, 2025.

13. EducationDynamics Minority $10,000 First-Generation Scholarship

EducationDynamics Minority $10,000 First-Generation Scholarship awards one $10,000 scholarship to a minority student who is the first in their family to attend college. Those applying need to be at least 17 years old and pursuing an associate degree, a bachelor’s at any accredited post-secondary institution of higher learning, or a certificate program. This year’s deadline was August 30, with winners being notified on or about November 15, 2024.

14. RSM US Foundation First-Generation Scholarship

The management and financial consulting company RSM US Foundation offers a First- Generation Scholarship to five students, with up to $30,000 each in scholarships, paid $10,000 annually over three consecutive academic years.

Applicants for the RSM US Foundation First- Generation Scholarship must be an undergraduate student who doesn’t have an immediate family member that received a bachelor’s degree. It’s important to note that with this scholarship, students are still eligible even if their immediate siblings have, or are currently pursuing, a bachelor’s degree.

Other requisites include being a legal resident of any of the 50 states and Washington D.C., and being at least 18 years old. They must also be a full-time student in their first, second, or third year at an accredited college or university, have a 3.0 or above GPA, and be pursuing a bachelor’s degree in a business or technology program.

The application period is from December 1, 2024 to February 28, 2025. Selections are made annually in April.

15. Ronald E. McNair Post-Baccalaureate Achievement Program

The goal of the McNair Scholars Program is to prepare undergrads who have demonstrated strong academic potential for doctoral studies via involvement in research and other scholarly activities.

Participants in the Ronald E. McNair Post-Baccalaureate Achievement Program, part of the Federal TRIO Programs, include first-generation college students with financial need along with members of a group traditionally underrepresented in graduate education. The McNair Scholars Program exists to increase graduate degree awards for underrepresented students in society.

Other Ways First-Gen Students Can Find Scholarships

There are many options when it comes to searching for first-generation student scholarships. A Google search can get you started, but it can be overwhelming. To help make it easier, you can find many by using SoFi’s scholarship search tool, along with other sites such as Bold.org, Scholarships360.org, ScholarshipOwl.com, College Greenlight, and Sallie Mae’s scholarship search scholarship search.

Many states also have their own first-generation scholarship opportunities for students. You can find out about these opportunities through your state’s education agency, the college’s financial aid office, your academic advisor, or if you’re a high school student, through your guidance counselor.

Recommended: States That Offer Free College Tuition Programs

General First-Generation Scholarship Opportunities

First-generation students may be able to get a scholarship through the federal government’s Federal TRIO Programs (TRIO). TRIO are outreach and student services programs created to identify and provide services for people from disadvantaged backgrounds. These programs are there to serve and help first-generation college students, low-income individuals, and those with disabilities to move forward through the academic pipeline from middle school to doctorate programs.

TRIO programs help with giving students academic support and the tools to enroll and succeed in college. The previously mentioned Ronald E. McNair Post-Baccalaureate Achievement Program is one of the eight standing TRIO projects, along with some of the others including Upward Bound and Talent Search.

Recommended: Types of Federal Student Loans

Do You Get Money for Being a First-Generation College Student?

Yes, you definitely can. With an understanding of many of the challenges first-generation students face when it comes to affording and applying to college, the federal government, along with many states, educational institutions, foundations, and organizations, offer specific scholarships for these students.

Can You Get a Scholarship for Being a First-Generation American?

First-generation American students are definitely eligible to apply for first-generation college scholarships. While many scholarships require the student to be a U.S. citizen, the parents may not have to be.

What Benefits Do First-Generation College Graduates Get?

As indicated above, there are a slew of scholarships only for those who are the first in their family to attend college, which means more opportunities to secure free money.

Some colleges and universities are more financially friendly for first-generation students, offering free application fee waivers and cost-free books and computers. Schools may also have specific support and social groups to help new first-generation students adjust to college life.

On a more individual level, first-generation college students can be inspiring for others in their family to follow in their footsteps, exhibit a stronger work ethic and determination to succeed because of the effort it took to get there, bring a unique perspective to other students and instructors, and be a catalyst for social change by championing educational equity.

The Takeaway

First-generation college students face certain hurdles compared to students who aren’t the first in their family to go to college. These obstacles include the difficulty in affording higher education and not having a parent to help navigate the application process and the transition to college life.

Fortunately, there are many scholarships created for first-generation students and other possibilities to get assistance for college, graduate school, and even doctoral programs. In addition to scholarships, first-generation college students can apply for 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

Can being a first-generation college student be an advantage during the admissions process?

While being a first-generation college student doesn’t guarantee you’ll be admitted to your school of choice, your particular background and circumstances can help you to stand out. Many scholarships ask you to submit an essay or personal statement, and here is where you can delve into why going to college is so important to you and the particular struggles a first-generation college student may face.

Why do colleges care about admitting first-generation students?

First-generation college students can be an asset to any university because they add diversity and promote inclusiveness. Colleges have become increasingly more aware of the issues of inequity when it comes to the student body, and are interested in trying to do their part to give certain students a leg up and an opportunity for economic and career advancement.

How can colleges verify if I’m a first-generation student?

One of the initial questions on a college application is about the educational history of the applicant’s parents. Information can also be obtained through background checks. It’s best to be truthful about being a first-generation student to insure your admission won’t be rescinded.

Photo credit: iStock/David Schaffer

SoFi Private Student Loans
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STEM stands for science, technology, engineering, and mathematics, and it’s a popular area of study for its higher-paying occupations and expected job growth. According to the U.S. Bureau of Labor Statistics, careers in STEM earn more than double the national average and are expected to grow more than 10% by 2033.

There are numerous scholarships exclusively available to students pursuing a degree in a STEM field. Below, we’ve outlined a list of STEM scholarships, plus common eligibility requirements and tips for applying.

STEM Scholarships for Graduate Students

Students in a master’s or doctoral program can apply for specific STEM scholarships to help cover tuition and living expenses. Scholarship eligibility may be based on the program type and focus of a student’s research.

Below are five STEM scholarships for graduate students.

•   American Nuclear Society Scholarship Program: Multiple awards ranging from $1,000 to $5,000 for graduate and undergraduate students enrolled in a degree program related to nuclear science or nuclear engineering.

•   American Welding Society Research Fellowships: Funding and support up to $35,000 annually for graduate students who are engaged in cutting-edge research within the field of welding.

•   Charles LeGeyt Fortescue Scholarship: Funding for one year of full-time graduate studies (up to $24,000) in electrical engineering at an accredited engineering school in the U.S.

•   DOE Computational Science Graduate Fellowship: Tuition assistance, stipend, and professional development ($45,000 value) for incoming and first-year PhD students enrolled in engineering, physical, computer, mathematical, or life sciences programs.

•   Dr. Nancy Foster Scholarship Program: Financial support of up to $47,000 for master’s and doctoral students in oceanography, marine biology, engineering, and resource management disciplines conducting research related to the mission of the National Oceanic and Atmospheric Administration.

For a chance to win SoFi’s monthly $2,500 Scholarship Sweepstakes, simply let us know your name, email address, and school.

STEM Scholarships for Undergraduates

There are many STEM scholarships available to undergraduate students. Eligibility requirements may include a student’s major, location, financial need, academic achievement, and class standing.

Below are five STEM scholarships for undergraduate students.

•   Changing the World Scholarship: Offers $1,000 awards per semester for undergraduate students who are pursuing a STEM degree and have a GPA of 3.0 or higher and demonstrated financial need.

•   Cold War Veterans Scholarship: Three $2,500 scholarships for students who are an active member of the Marine’s Memorial or a child or grandchild of an active member to pursue undergraduate studies in a STEM field.

•   Goodyear STEM Career Day Scholarships: Multiple awards ranging from $1,000 to $2,500 for Ohio high school graduates pursuing a bachelor’s degree in engineering or a STEM discipline.

•   Lockheed Martin STEM Scholarship: Multiple scholarships for undergraduate students enrolled in a four-year degree program and majoring in engineering, computer science, mathematics, or physics.

•   SAE/Ford Partnership for Advanced Studies Scholarship: One $5,000 scholarship for an incoming freshman pursuing an engineering or related science degree at an accredited U.S. college or university.

Recommended: Grants, Scholarships, Loans: The Differences

How to Apply for a STEM Scholarship

To apply for a STEM scholarship, you first need to put in the time to research and find STEM scholarships you qualify for. During your search, keep track of submission deadlines and application requirements for any opportunities you plan on applying to, as these can vary between scholarships.

A personal statement or essay is a common requirement for STEM scholarships. While it’s best practice to tailor your writing to address the scholarship’s specific prompts and instructions, creating a generic personal statement that you can modify for each application can save time.

STEM scholarships often require school transcripts and a letter of recommendation or references. Think about which high school teachers, college professors, or employers are best suited to speak to your academic merit and personal character. When applying for a STEM-specific scholarship, using a reference who teaches or works in a STEM field could be advantageous.

Recommended: How to Pay for College

When Should I Apply for STEM Scholarships?

There are STEM scholarships and grants available to help pay for all levels of higher education, from freshman year of undergrad to completing a master’s or doctoral degree.

For high school seniors, it’s okay if you’re not sure what college you should go to yet to begin applying for college scholarships. Some scholarship deadlines are one year in advance, so it’s helpful to be planning well ahead for applications.

Current college and graduate students can continue applying for scholarships every year of their education, and it may be necessary to reapply for an award if it doesn’t renew annually.

What Kind of GPA Do I Need to Apply for a STEM Scholarship?

STEM scholarships have different eligibility criteria, including GPA requirements. However, many merit-based scholarships require a GPA of at least 3.0 to apply, whereas students could qualify for some need-based awards with a GPA below a 3.0.

Recommended: Tips for Getting Straight A’s in College

Are International Students Eligible for STEM Scholarships?

Many STEM scholarships are intended for students who are U.S. residents. But there are still opportunities for international students to consider, including university-specific scholarships and grants.

Recommended: Can International Students Get Student Loans to Study in the U.S.?

Top 5 STEM Scholarships for Women

There are many scholarships specifically for women pursuing a STEM degree and career. STEM scholarships for women are offered by companies, professional associations, and nonprofit organizations.

The top five STEM scholarships for women include:

•   Advancing Women in Science Scholarships: Various awards for undergraduate and graduate students who are pursuing degrees in STEM fields and members of the Association of Women in Science.

•   Elevate Women in Technology Scholarship: One $1,040 STEM scholarship for a woman who intends to enter a career that leverages technology to make the world a better place, with preference for a student involved in a STEM field and entrepreneurial endeavors.

•   SAE Women-in-Automotive Scholarship: Thirteen $5,000 scholarships for women with strong academic achievement and who are enrolled in an engineering degree program to pursue a career in the automotive industry.

•   Scholarships for Future Women Engineers: Multiple awards ranging from $2,500 to $20,000 for women pursuing an associates or bachelor’s degree in STEM, manufacturing, or industrial engineering.

•   STEMinist Scholarship: Financial support of up to $5,000 for women of color from the Chicago metropolitan area pursuing a college degree in engineering or a STEM-related field.

Recommended: 10 Popular Scholarships for Women

Full Eligibility Requirements

When browsing STEM scholarships, it’s important to verify that you meet eligibility requirements before spending time and effort applying. There may be minimum GPA and residency requirements for applicants.

Depending on the type of scholarship, students could be required to demonstrate leadership experience, involvement in community service, and other experiences or skills to qualify.

Completing the FAFSA can be a prerequisite to apply and be considered for both need-based awards and merit scholarships.

Recommended: How to Complete the FAFSA Step by Step

The Takeaway

Earning a degree in a STEM field can put you on the path to a rewarding and high-paying career. There are many scholarships for undergraduate and graduate students interested in a variety of STEM-related disciplines. Students can apply every year of school to increase their chances of getting scholarships and grants for college.

Still, many students require additional financing, such as federal and private student loans, to fund their education.

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

FAQ

What does STEM scholarship stand for?

A STEM scholarship is a type of free financial aid for students studying science, technology, engineering, or mathematics — a collection of subject areas known as STEM.

What is a STEM scholar?

A STEM scholar is someone who studies an academic discipline related to either science, technology, engineering, or math.

How can I apply for STEM scholarships?

To apply for STEM scholarships, students usually need to complete an online application, provide academic transcripts, and sometimes submit essays or letters of recommendation detailing their interest in a STEM field.

Photo credit: iStock/gorodenkoff

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.

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