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Becoming a teacher requires a bachelor’s degree and passing certification exams. Depending on the type of school setting, location, and subject area, educators may also need to earn a graduate certificate or degree. Fortunately, there are many teacher scholarships that can help make pursuing a career as an educator more affordable.

Below are 25 scholarships for aspiring teachers that can help cover the cost of undergraduate and graduate degree programs in education.

1. TEACH Grant

The U.S. Department of Education provides Teacher Education Assistance for College and Higher Education (TEACH) Grants of up to $4,000 per year for undergraduate and graduate students pursuing a career as a teacher. Applicants must be eligible for federal student aid programs, be enrolled at a participating school, and meet academic requirements.

Recipients must fulfill a service obligation to teach a highly needed subject in a low-income area or where there’s a teacher shortage, or else have their TEACH Grants converted to a Direct Unsubsidized Loan.

Recommended: How College Financial Aid Works

2. STEM Teachers for America’s Future Graduate Scholarships

The AFCEA Educational Foundation offers scholarships of $2,500 to graduate students pursuing a degree or credential to teach science, technology, engineering, or math (STEM) subjects to grades K-12 in the U.S. Applicants must have a GPA of 3.5 or higher and complete a B.S. degree in a STEM field.

3. James Madison Graduate Fellowship

The James Madison Memorial Fellowship Foundation provides around 50 awards of $12,000 per year for college seniors and college graduates who intend to become secondary school teachers of U.S. history, government, or civics. Recipients are expected to complete graduate programs within two academic years and teach for a duration equivalent to the fellowship funding received.

Recommended: 10 Most Common Types of Scholarships

4. Glenn Moon Scholarship

The Association of Retired Teachers of Connecticut offers the Glenn Moon Scholarship, consisting of multiple scholarships of $2,000 per year for students pursuing a teaching degree. Applicants must be residents of Connecticut to be eligible.

5. SoFi Scholarship Giveaway

In addition to teacher scholarships, registering for SoFi’s $2,500 scholarship sweepstakes is another opportunity to get free money for college. Scholarships are awarded on a monthly basis, and registration takes just a couple steps.

6. Barbara Lotze Scholarship for Future Physics Teachers

The American Association of Physics Teachers issues approximately five scholarships of up to $3,000 for U.S. citizens pursuing a degree leading toward a career as a high school physics teacher. High school seniors and current college students are eligible to apply for funding for each year of their degree program.

7. Nancy Larson Foundation College Scholarship

The Nancy Larson Foundation awards a minimum of five $1,500 scholarships to students preparing to become elementary school teachers. Juniors, seniors, and graduate students who have declared an elementary education major are eligible to apply for the Nancy Larson Foundation College Scholarship.

8. TeachDFW Scholarship

The TeachDFW Scholarship awards up to $1,000 to any future educator applying to a teaching program. The scholarship is aimed at addressing the teacher shortage and improving education quality in local Dallas-Fort Worth schools by empowering aspiring teachers.

9. South Carolina Teaching Fellows Program

The SC Teaching Fellows Program provides professional development opportunities and funding for up to 200 high school seniors who have demonstrated community service experience, high academic achievement, and a desire to become a teacher in South Carolina. Fellows can receive up to $24,000 in funds, or up to $6,000 a year for four years, while earning a degree that leads to initial teacher certification.

Recommended: Explaining Student Loan Forgiveness for Teachers

10. National FFA Alumni and Supporters Agricultural Education Scholarship

The National Future Farmers of America (FFA) Organization offers $1,000 scholarships to students pursuing a degree leading to a career as an agriculture teacher. Applicants must be high school senior FFA members or FFA alumni enrolled in a two- or four-year degree program.

11. Joseph T. Weingold Scholarship

The Arc New York Joseph T. Weingold Scholarship awards four New York Arc Chapter employees $3,000 scholarships per year for those enrolled in a New York State degree program, leading to a special education certification.

12. International Teacher Education Scholarship

The Alpha Delta Kappa Foundation grants up to seven awards of $10,000 annually to women from outside the U.S. pursuing a graduate degree in a field of education in the U.S. To be eligible, applicants must have a bachelor’s degree and reside outside the U.S. prior to enrolling in graduate school.

Recommended: 10 Popular Scholarships for Women

13. Next Generation Hoosier Educators Scholarship

The Next Generation Hoosier Educators Scholarship provides awards of up to $10,000 each year for Indiana residents pursuing a career in education. Recipients may renew the scholarship for four academic years. Additionally, recipients agree to teach for five years at an eligible school in Indiana or repay the prorated amount of the scholarship award.

14. High School Senior Scholarship for Future Teachers

The Georgia Association of Educators provides up to 10 awards of $1,000 for high school seniors in Georgia who will attend an accredited college or university and plan to major in education. Applicants must submit two letters of recommendation and complete a 500-word essay on “Identify the Teacher Who Inspired You to Consider Becoming a Teacher and Why?”

15. College Junior/Senior Scholarship for Future Teachers

The Georgia Association of Educators provides awards of $1,000 for rising college juniors and seniors enrolled in an accredited education program at a Georgia college or university. Applicants must submit two letters of recommendation and complete a 500-word essay on “Why Do You Choose to Become a Teacher and What Do You Hope to Accomplish in this Profession?”

16. Underwood-Smith Teaching Scholars Program

The Underwood-Smith Teaching Scholars Program provides 25 awards of $10,000 per year to students enrolled at a West Virginia college or university and pursuing a degree in math, science, elementary education, or special education. Recipients may receive funding for up to four years, and are required to teach in a West Virginia public school for at least five years after graduation.

17. Martin Luther King, Jr. Memorial Scholarship Program

The California Teachers Association (CTA) provides multiple teacher scholarships of up to $6,000 for California residents pursuing a degree, credential, or certification for a teaching-related career. Applicants must be a member of a defined BIPOC group and either an active member of CTA or CTA Aspiring Educators, or a dependent child of a CTA member.

18. Dakota Corps Scholarship

The Dakota Corps Scholarship provides full-tuition scholarships to South Dakota students who commit to working in critical-need fields within the state, such as teaching, nursing, or engineering, after graduation. It’s awarded based on academic performance and a willingness to serve in high-demand professions in South Dakota’s rural or underserved areas.

19. Al Mance Memorial Scholarship

The Tennessee Education Association provides an Al Mance Memorial Scholarship (in addition to other scholarships) of $1,000 to a male undergraduate or graduate student of color who is enrolled in an education degree program at a Tennessee college or university.

20. Winifred R. Reynolds Educational Scholarship

The Denver Foundation provides awards of $1,000 to $7,000 for Colorado residents enrolled or planning to enroll in a master’s or doctorate level program in early childhood education, child development, or educational psychology. Applicants must demonstrate financial need and a cumulative GPA of 3.5 or higher.

Recommended: How Much Does GPA Matter When Applying to College?

21. Clara Onishi Educator Scholarship

The Clara Onishi Educator Scholarship, part of the Odo Scholarship Foundation, awards one scholarship of $1,250 each year for students enrolled in an accredited teacher education program. Recipients must be a Hawaiian resident and show intent to teach in Hawaii.

22. Minority Teachers of Illinois (MTI) Scholarship Program

The Illinois Student Assistance Commission provides scholarships of up to $7,500 each year for minority students who are enrolled at an Illinois undergraduate or graduate program that qualifies recipients to be licensed teachers upon completion. Recipients must be in-state residents and committed to teaching in Illinois after graduation.

23. Victoria Soto Memorial Scholarship

This four-year renewable scholarship of up to $12,000 is awarded by the Vicki Soto Memorial Fund to four recipients per year: two graduates of Stratford High School, one Connecticut recipient, and one national recipient. Applicants must be pursuing a college degree in education at an accredited school.

24. Teacher Education Scholarship

The Oregon PTA Teacher Education Scholarship offers scholarships of $1,000 for in-state residents studying at an Oregon public college or university to become elementary or secondary school teachers. The scholarship is a one-time award and available to graduating high school seniors or current college students.

25. First-Year Teacher Scholarships

The Texas Retired Teachers Foundation First-Year Teacher Scholarship provides numerous awards of $1,000 to recent college graduates entering their first year of teaching in Texas. Funds may be used to reimburse applicants for the costs of teaching certifications and classroom materials.

Recommended: How Much Does a Teacher Make a Year?

The Takeaway

Applying for multiple teacher scholarships can be a useful strategy to help pay for the cost of college, graduate school, and becoming an educator. The application processes can vary, so it may be helpful to explore and research scholarships that best fit your personal situation and educational and career goals.

It’s not uncommon for students to use multiple funding sources, including grants, scholarships, federal student loans, and private student loans to help cover the cost of college.

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 types of scholarships are available for aspiring teachers?

Scholarships for aspiring teachers include merit-based awards, financial need scholarships, and those focused on specific teaching areas such as STEM, special education, or early childhood education. Some scholarships are also offered for teachers pursuing advanced degrees or certifications in specific subjects.

How do I apply for a scholarship for teachers?

To apply for a teaching scholarship, you typically need to complete an online application, submit transcripts, write an essay, and provide letters of recommendation. Some scholarships may also require proof of enrollment in a teaching program or a commitment to work in underserved schools.

Are there scholarships for current teachers pursuing professional development?

Yes, many scholarships are available for current teachers looking to further their education, pursue advanced degrees, or earn additional certifications. These scholarships often focus on supporting teachers who want to specialize in areas like leadership, technology, or special education to enhance their professional skills.

Photo credit: iStock/Choreograph

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

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.

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.

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When you take out private student loans, your lender works with your school to certify the loan before disbursing funds. But what happens when a school won’t certify private loans for college?

If private student loan certification isn’t granted, there are steps students can take to address the issue.

Here’s an overview of how private student loan certification works, potential reasons for having certification denied, and some options to remedy the situation.

Understanding Private Student Loan Certification

Private student loan certification is often a required step for funds to be disbursed by a lender to your school. This is intended to protect student borrowers by ensuring that they’re informed about their federal financial aid options and the school’s cost of attendance when taking out private student loans.

With school-certified private student loans, borrowers fill out and sign a Private Education Loan Applicant Self-Certification form after receiving loan approval. This form provides lenders with a student’s enrollment information and any financial assistance they’ve received, such as grants or scholarships.

Next, lenders send the private student loan information to the school for certification. Schools are responsible for confirming that students are enrolled and that the loan amount does not exceed the cost of attendance: tuition, fees, books, living expenses, transportation costs, and dependent care (if needed). If this information checks out, the certification moves forward and the loan funds will be disbursed without any further action required by students.

While waiting, you might be wondering “how long do private student loans take to process?” It can take anywhere from two to 10 weeks for a student loan to process, depending in part on any issues in the student loan certification process.

When the student loan certification is complete, borrowers receive a final loan disclosure from their lender. This indicates the loan amount, which could be adjusted by the school if the requested funds exceed the total cost of attendance. Borrowers are then offered a three-day waiting period after receiving the final disclosure, known as the right-to-cancel period, to cancel the loan with no penalty.

Do private loans go directly to the school or student? With school-certified loans, the lender disburses loan funds directly to the school.

Recommended: Student Loan Basics

The Role of Schools

After issuing loan approval, a lender forwards a certification request to your school’s office of financial aid. This involves verifying certain information provided when applying for the loan, including enrollment status, expected graduation date, year in the program, and requested loan amount.

Federal regulation prohibits students from receiving student aid that exceeds the cost of attendance. To determine the maximum amount of loan funds, the school financial aid office deducts all other types of financial aid — scholarships, grants, and federal student aid — from the school’s cost of attendance for that semester or academic year.

A key difference with private student loans compared to federal loans is that schools do not consider the Student Aid Index (SAI) when calculating how much can be borrowed in private student loans. Additionally, maintaining satisfactory academic progress could be required by schools to certify private student loans.

With all this information, schools will either certify, certify with changes, or deny certification. For instance, loans could be certified for a lesser amount than what was initially requested if it surpasses the school’s cost of attendance.

Recommended: Undergraduate Private Student Loan Rates

Reasons for Certification Denial

There are a few possible reasons why a school won’t certify private loans. Resolving any such issues — whether on behalf of the student or school — is necessary for the disbursement of student loan funds to move forward.

Common Scenarios for Student Loan Certification Refusal

Here’s a look at some common scenarios where schools might refuse private student loan certification.

Exceeding Cost of Attendance

As mentioned above, schools are prohibited from certifying a loan amount that’s greater than the cost of attendance, minus any financial aid awarded.

Note that schools may list different dollar amounts for the cost of attendance depending on a variety of factors. For instance, students living on campus may have a different cost of attendance than those living off campus. Whether you’re paying in-state vs. out-of-state tuition and attending undergraduate vs. graduate school can also impact how your school calculates your cost of attendance.

Schools may break out the cost of attendance into separate expenses. This means that student loan certification could be denied for specific expense categories (e.g., housing costs) if they’re higher than what’s allowed by the school.

Satisfactory Academic Progress Issues

Students are required to maintain Satisfactory Academic Progress (SAP) at their school to continue receiving financial aid. Each school sets its own SAP policy, but generally students need to maintain a 2.0 GPA to maintain eligibility.

While private student loans typically don’t have SAP requirements, losing financial aid could impact your ability to pay for college.

Recommended: Comparing Private Student Loans

Enrollment Status Discrepancies

It’s not uncommon for students to adjust their course load, but a change in enrollment or incorrect reporting of enrollment status could lead to certification denial.

Student loan certification often occurs in the weeks preceding the start of the semester, so it’s important to ensure you’ve successfully enrolled before then. Additionally, a discrepancy could occur if dropping or adding classes impacts enrollment as a full-time vs. part-time student.

Steps to Take When Loan Certification Is Denied

If private student loan certification is denied by your school, there are a few options to consider to avoid delayed or halted disbursement.

Recommended: How Are Private Student Loans Disbursed?

Request an Explanation from the School

Your school’s financial aid office is usually the point of contact to understand the rationale for certification denial and the necessary steps to resolve the problem. Errors with enrollment status or personal information can usually be addressed quickly, but it’s important to reach out promptly.

Appeal the Decision

If the denial involves exceeding the cost of attendance, students may need to appeal the decision with their school. Often referred to as a professional judgment, this appeal aims to increase the student’s cost of attendance to be eligible for additional student loan funding.

Financial aid offices typically consider professional judgment on a case-by-case basis, so it’s important to have documentation to support the request for revising the cost of attendance. For example, a student living off-campus could provide their renewed lease to show an increase in rent. Other circumstances that could warrant a professional judgment include childcare, disability-related expenses, and medical costs.

Explore Alternative Funding Sources

Students often use multiple funding sources to pay for college.

Applying for college scholarships and grants could secure financial aid to help cover tuition, room and board, and other school expenses. This type of aid is usually awarded based on academic merit or financial need, and doesn’t need to be paid back.

To apply for most scholarships and grants, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA). After completing the FAFSA, students receive a financial aid package from the schools they’ve been accepted at, outlining eligible financial assistance, including federal student loans, work-study, grants, and scholarships.

Managing Private Student Loan Debt Responsibly

Staying on top of private student loan debt is essential for long-term financial health. Understanding your loan terms, including the interest rate and repayment plan, is key to developing a payback strategy that avoids fees and penalties.

After graduation, students may have a grace period before they need to start repaying their private student loans. Once repayment begins, setting up automatic payments could provide a discount on the loan interest rate and help ensure you’re sticking to your debt payoff goals.

Recommended: Private Student Loan Forgiveness

The Takeaway

Private student loan certification is a required step for funds to be disbursed to your school. If your school doesn’t certify your private student loans, don’t panic. Reach out to your school’s financial aid office to determine if any errors have been made, then take the necessary steps to resolve it.

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 schools deny private student loan certification for any reason?

No. Schools deny private student loan certification if the amount exceeds the cost of attendance or if there are discrepancies in a student’s enrollment status.

What happens if a private student loan is disbursed without certification?

Private student loans cannot be disbursed until a school completes the certification process. In rare circumstances, students may be eligible for a false certification discharge if a loan was disbursed despite a student being ineligible to receive a loan.

Are there limits on the amount schools can certify for private student loans?

Yes, schools cannot certify private student loans exceeding the cost of attendance, minus any financial aid. Note that students can request a professional judgment to increase their cost of attendance, but these are granted on a case-by-case basis.

Photo credit: iStock/recep-bg

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

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.

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.

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Students who are looking for LGBTQ+ scholarships can find a wide range of options. Scholarships are considered gift aid, which means they don’t need to be repaid.

LGBTQ+ scholarships are offered by schools, organizations, cities, and states. There are also national scholarships available.

Read on to learn about scholarships for LGBTQ+ students, plus tips for applying for these awards that may help boost your chances of success.

Overview of LGBTQ+ Scholarships

Scholarships for LGBTQ+ students are essentially free money. Because scholarships do not have to be repaid, they can be an ideal way to make college more affordable and avoid student loan debt.

There are many different types of scholarships for LGBTQ+ students. For example, there are national scholarships as well as awards funded at the state and local level (in specific counties, cities, and municipalities), and at certain colleges and universities.

While some LGBTQ+ scholarships are based on academic achievement, it’s possible to find non-academic scholarships as well. Cast a wide net to see what’s available.

One good way to track down LGBTQ+ college scholarships is to use scholarship search tools and search engines like Campus Pride, Fastweb, Unigo, and the Human Rights Campaign.

National LGBTQ+ Scholarships

National LGBTQ+ scholarships are open to eligible students across the U.S. Here are some of the available options to explore

•   Aritzia scholarship: Established by fashion brand Aritzia, the Aritzia scholarship offers four one-time scholarships. Students must identify as lesbian, gay, bisexual, transgender, queer, intersex, asexual, or two-spirit, and be currently enrolled in an undergraduate or graduate program at a school in the U.S. They must also plan to work in, or show a strong commitment to, the fields of fashion design, retail management, mental health, or social justice advocacy.

Amount: $5,000

•   Traub-Dicker Rainbow scholarship: This one-year scholarship is for lesbians pursuing higher education. Eligible students can be graduating from high school or in any year of college, including graduate school. Applicants may qualify based on their academic achievement, community involvement, leadership, or commitment to LGBTQ+ issues.

Amount: $4,000

•   Point Foundation Flagship scholarship: Offered by the Point Foundation, the largest LGBTQ scholarship nonprofit organization, the Flagship scholarship is for lesbian, gay, bisexual, transgender, and queer students who are enrolled (or planning to enroll) at an accredited college or university in the U.S. To qualify, a student must be in a bachelor’s, master’s, or doctoral program, or in a professional degree program (such as medicine or law).

Amount: Based on need. The scholarship may be renewed for up to four years.

•   Point Foundation Community College scholarship: This scholarship is for LGBTQ+ community college students in the U.S. who are studying for an associate degree or are planning to transfer to a four-year college or university. They must have one to two years of community college left and be enrolled at least half-time.

Amount: $2,400 per semester or $4,800 per academic year

•   Point Foundation BIPOC scholarship: Students who identify as Black, indigenous, or a person of color, and LGBTQ, and are enrolled (or intending to enroll) in a postsecondary institution in the U.S. are eligible for this scholarship. To qualify, applicants must intend to pursue an associate, bachelor’s, master’s, doctoral, or professional degree.

Amount: Up to $1,500

Top 10 State-Specific LGBTQ+ Scholarships

In addition to national scholarships, there are a number of state-specific LGBTQ+ college scholarships students can also apply for.

LGBTQ+ Scholarships by State

The following states offer LGBTQ+ scholarships. If your state isn’t on the list, do some research to see if you can find applicable scholarships in your region to help with the cost of college. Other options to help cover the expense include grants, financial aid, and federal and private student loans.

1.    California: The Markowski-Leach Scholarships are for undergraduate or graduate LGBTQ+ students who are working to achieve a significant positive goal in academics, employment, committee work, or volunteering. Applicants must attend San Francisco State University; Stanford; the University of California, Berkeley; UC College of the Law, San Francisco; or the University of California, San Francisco; be enrolled in a full-time program leading to a degree or teaching credential, and earn at least a 2.5 GPA.

Award: $2,500 for up to two years of eligibility

2.    Colorado: The PFLAG Denver Scholarship Program offers scholarships to LGBTQIA+ students who demonstrate advocacy and a drive to build a more just and inclusive world.

Award: $2,500

3.    Florida: The Tampa Pride Foundation Scholarships are for LGBTQ+ students in Hillsborough, Pinellas, Polk, and Pasco counties that demonstrate financial need. Students must be U.S. citizens age 26 or younger who have completed high school or a GED. Preference is given to those who have overcome discrimination or marginalization, demonstrate leadership qualities, and have a strong academic performance.

Award: Up to $1,500

4.    Illinois: The Acorn Equality Fund provides scholarships to LGBTQ+ students who live in downstate Illinois (except for Cook, DuPage, Grundy, Kane, Kendall, Lake, McHenry, and Will counties) and attend an accredited post-secondary educational institution. Scholarships are awarded in six categories.

Award: $1,000 to $4,000

5.    Kentucky: Frontrunners Lexington offers two scholarships for LGBTQ+ seniors in public or private high schools planning to attend trade school, community college, or a four-year college or university. Students must reside in Anderson, Bath, Bourbon, Clark, Fayette, Franklin, Garrad, Harrison, Jessamine, Madison, Mercer, Montgomery, Powell, Scott, or Woodford counties.

Award: $2,500

6.    Missouri: Missourians can tap into a variety of scholarship opportunities through the Missouri Courage Scholarship, including the Missouri Courage Award, Rural Courage Award, Trans Courage Award, Fortier Courage Award, and Pay it Forward Award.

Award: $500 to $2,000

7.    New York: The Little Bird Scholarship for LGBTQ+ Immigrants offers financial help to refugees and individuals who are seeking or have been granted asylum. Applicants must be undocumented and enrolled at an accredited, nonprofit school in New York City. They must also be rising juniors or seniors.

Award: $18,000 for up to two years of school

8.    North Carolina: The Carter Stroupe Memorial Scholarship offers qualifying LGBTQ+ students and LGBTQ+-allied students scholarships for educational expenses. Students must exhibit courage and leadership in their schools and communities and reside in Guilford, Rockingham, Randolph, or Alamance County. Eligible applicants must also demonstrate service in the LGBTQ+ community or a desire to serve.

Award: Up to $2,000

9.    Upper Midwest: To qualify for the PFund Scholarship, applicants must be 17 or older, from the upper Midwest (Minnesota, Iowa, Wisconsin, North Dakota, or South Dakota), and enrolled in or admitted to a GED program, community college, four-year college or university, graduate school, trade school, professional certificate program, or apprenticeship program.

Award: $1,000 to $12,000

10.    Washington: Washington state residents can apply for the GSBA Scholarship and Education Fund. Applicants must identify as LGBTQ+, as a member of a LGBTQ+ family, or as a cisgender/straight ally who has demonstrated active support of the community. They should be enrolled at a community college, four-year public institution, or vocational/technical/trade school.

Award: $3,000 to $7,500

Tips for Applying for LGBTQ+ Scholarships

Once you’ve found LGBTQ+ scholarships you’d like to apply for, follow these five steps to make your application as strong as possible.

•   Review the requirements and directions. Make sure you meet all the scholarship’s eligibility requirements; find out what paperwork is needed, such as school transcripts; and double check the application deadline.

•   Ace the essay: If the scholarship application involves an essay component, be sure to highlight your achievements and accomplishments — this isn’t the time to be modest. Explain the impact you hope to make through your education, and how the scholarship would help you achieve your goals. This scholarship essay guide may be helpful as you’re putting your essay together.

•   Check your work. Proofread your entire application carefully. Look for any errors or typos. Make any necessary edits or tweaks to your essay.

•   Ask for letters of recommendation right away. If recommendations are required, reach out to a teacher or employer who can attest to the quality of your work and other achievements. Give them plenty of time to write the letter. You don’t want them to feel rushed.

•   Be prompt. Submit your application before the deadline.

The Takeaway

There are a wide range of scholarship opportunities for LGBTQ+ students that can help make college more affordable. Use scholarship search tools to look for state, local, and national scholarships. Because you don’t have to repay them, scholarships are a smart way to help reduce your education costs.

Another option to potentially help with student debt is to refinance your student loans. With refinancing, you replace your existing loans with a new loan with a private lender. You may be able to get a lower interest rate and better terms if you qualify for them. Just keep in mind that when you refinance federal student loans, you lose access to federal programs and protections like deferment and income-driven repayment.

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

FAQ

How can I find LGBTQ+ friendly colleges?

One way to find LGBTQ+-friendly colleges is to use an online tool like the Campus Pride Index. It allows you to search a database of hundreds of colleges and universities across the U.S. that have worked to improve the academic experience and campus life for LGBTQ+ students. You can search for LBGTQ+-friendly colleges by region, state, and institution type.

What documents are required for LGBTQ+ scholarships?

Each LGBTQ+ scholarship has specific requirements. You may be asked to demonstrate financial need, send in school transcripts, and submit letters of recommendation, for instance. Read over each scholarship’s requirements and gather together all the materials you need before you apply.

How do LGBTQ+ guidelines differ from academic scholarships?

Some LGBTQ+ scholarships may be non-academic, which means you aren’t required to have a certain GPA to qualify. Other LGBTQ+ scholarships may have an academic component you’ll need to meet. Each scholarship for LGBTQ+ students is different. Review the requirements carefully so you understand exactly what’s needed for every scholarship you apply for.

Photo credit: iStock/RealPeopleGroup

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

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Many landlords will only consider prospective tenants with decent credit scores. However, some private landlords who are eager to fill empty rentals quickly may advertise “no-credit-check” apartments. In other cases, smaller family-owned buildings just don’t have the same documentation requirements as bigger complexes handled by property managers or brokers. Even if the building you’re interested in does require a credit check, there may be ways to get around it.

If you have bad credit or no credit, we’ll explain all the ways you can still rent an apartment.

•  Renting with bad credit or no credit is possible through no-credit-check apartments, which are often managed by private landlords who prioritize consistent rent over credit checks.

•  Strategies include finding a cosigner, paying a higher security deposit, or providing proof of financial stability.

•  Subletting or sharing an apartment can bypass credit checks, as these arrangements often require less documentation.

•  Building credit history by becoming an authorized user on a credit card or paying bills on time could improve rental prospects.

•  Being honest about credit issues and providing references from previous landlords may help secure a rental agreement.

Are There No-Credit-Check Apartments?

A handful of landlords will rent an apartment without a credit check. However, apartment hunters should approach advertised “no-credit-check apartments” with caution. The term can sometimes be code for “these units are problematic,” or “this landlord is difficult,” or even “this is a scam.”

Sometimes, however, private landlords in smaller buildings just don’t see the need for credit checks. They don’t advertise this, but “for rent by owner” (or FRBO) listings can offer a clue.

Instead of pulling a credit report themselves, some landlords will accept a credit reference with the rental application. Credit reference documentation can be a recent credit report that the tenant provides (saving them from paying a fee), or pay stubs and W-2s, or letters from previous landlords or lenders — basically, anything that shows your ability to pay the rent.

Recommended: Trying to Rent in a Tight Housing Market? 4 Steps To Win the Lease

Why Landlords Perform Credit Checks

Landlords perform credit checks for apartment rentals for the same basic reason that employers run credit checks for employment: to help determine whether a prospect is financially responsible.

Landlords want tenants who pay their rent on time. By checking an applicant’s credit report, a landlord can see how reliably the person pays their bills and manages their credit. If someone has a history of late payments or outstanding debts, a landlord may think twice before renting to them.

When landlords run a credit check, it will be a soft credit inquiry, which won’t affect your credit score.

How the Process of No-Credit-Check Apartments Works

Depending on the landlord, the application process for a no-credit-check apartment can be pretty standard or very casual. Landlords generally ask for the following as part of your application:

•  Proof of identity

•  Proof of employment, income, or financial stability

•  Vehicle information, if parking is provided

•  Personal references

•  Application fee

Typically, it takes one to three business days to process an application. Afterward, you’ll be given a lease to sign. At this time, you can negotiate the security deposit, move-in date, and any details such as minor repairs to be made. When you receive the keys, the place is yours.

Where to Find No-Credit-Check Apartments

You can find no-credit-check listings in print, online, or via signs on some buildings. No-credit-check apartments are usually not handled by a hired property manager or broker. Instead, they are managed by a private landlord (the building owner) who needs to have rent continually coming in to cover the costs on their property.

Some of these landlords are less particular about their prospective tenants. Others trust their instincts about people over credit and background checks. And others still, as noted above, just don’t want to deal with the hassle and fees associated with credit checks.

Tips for Renting an Apartment With No Credit

If you’re looking to rent an apartment (or house) but you have no credit or bad credit, here are some tried-and-true strategies.

Recommended: Should I Sell My House Now or Wait?

Be Honest

No one likes an unhappy surprise. If you haven’t established credit yet, say so. If you have credit problems, say so. Have a conversation with the landlord before you apply to gauge their flexibility and warn them of red flags in your credit history. Then include a cover letter with your application repeating your explanations. Glowing reference letters also help offset a poor credit score.

Recommended: What Is a Tri-Merge Credit Report?

Get a Roommate

Finding a roommate with good credit can help make the deal go through. A landlord may accept using their name alone on the lease (assuming the roommate is OK with taking full responsibility for rental payments). Or you may be able to put both of your names on the lease.

Look for Sublets and Shares

Sometimes, a leaseholder will “sublet” their apartment while they pursue opportunities elsewhere. This allows them to return to their former home in the event they want to move back. Rather than paying rent to the landlord, the subletter will often pay the leaseholder, so financial documentation may not be required. This is a common arrangement in big cities, especially among leaseholders of rent-stabilized apartments.

In share situations, roommates who are on the lease may sublet an extra room without requiring much, if any, documentation. As long as you make a good impression, they may give you a chance.

Find a Cosigner

A cosigner is someone who promises the landlord to cover your rent if you cannot pay — usually a good friend or family member with great credit. Cosigners may or may not live in the apartment.

Pay a Higher Security Deposit

If you’re brainstorming how to rent an apartment with bad credit and no cosigner, consider laying some cash on the line. Whether you dip into savings or build up your reserves with an online budget planner, putting down several months’ rent as a security deposit can reassure the landlord.

Show Financial Proof

Perhaps you make a decent income that will make it easy to pay your rent. Or you saved up some money as a cushion. Share proof with the landlord in the form of pay stubs and bank statements.

Use Previous Landlords as References

If you’ve rented from other landlords and made those payments on time, bring a reference letter or two to prove it. Ideally, the reference should be on letterhead or at least look neat and professional. That might mean creating the letter yourself and having your previous landlord sign it.

Promote Yourself

Have superior presentation skills? You can use them to persuade your landlord what a great tenant you’ll make. Turn on the charm. Bring homemade baked goods. It works.

Build Your Credit History

If there’s somewhere you can stay for now — with a friend or family member — spend that time building your credit history. To build up poor credit, focus on paying bills on time and paying down credit card balances. During this time, it may help to sign up for free credit monitoring. What qualifies as credit monitoring varies by service, but look for one that offers alerts whenever your score changes.

When you have no credit, you can start to establish your history by becoming an authorized user on a credit card or putting a utility in your name. Just be aware that it may take six months or more for the system to generate your credit score. You may be able to check your credit score for free through your bank, credit card company, or credit counselor.

The credit score needed to rent an apartment varies by location and landlord. But according to FICO®, a credit score of at least 670 is usually enough to rent an apartment.

The Takeaway

If you haven’t yet established credit or have a problematic credit history, no-credit-check apartments are one option. However, there are many other ways to secure a rental, from finding a sublet or share situation to paying a higher security deposit. Beware of shady no-credit-check apartments: There’s no reason to settle for an unsafe or unhygienic environment just because of your credit score.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

FAQ

What happens if you don’t have credit but want to rent an apartment?

Let the landlord know up front and ask what you need to do to rent the apartment. Their suggestions may include getting a roommate or cosigner with good credit, or putting down a larger security deposit. If you’ve rented in the past and made payments on time, ask your previous landlords for reference letters and build a case about why you’ll make a great tenant.

Can I rent an apartment with collections?

If you’re planning to rent a no-credit-check apartment, then the landlord won’t consider issues on your credit report. If your credit will be checked, talk to the landlord up front to see if renting with collections on your report is somehow possible.

What’s the minimum score to rent an apartment?

It’s up to the individual landlord. If a landlord requires a “good” credit score, FICO considers that to be in the range of 670-739.

I’m wondering how to pay rent with a credit card, no fee. What can I do?

If you’re renting right now, ask your landlord. If you’ll be seeking an apartment to rent, ask prospective landlords if this is possible. Each landlord has their own policy about credit cards.

Photo credit: iStock/StefaNikolic

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

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

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

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.

SORL-Q424-003

A low-income home loan is designed to make it possible for borrowers with lower income levels to meet their goals of homeownership. Typically, low-income mortgage programs help borrowers overcome a variety of barriers. Alongside those with a low income, these programs can help if someone has a poor credit score, large amount of debt, or a small down payment.

This guide takes a closer look at such details as:

•   How home loans for low-income borrowers work

•   Examples of these programs

•   How to buy a home when someone has a low income.

What Is a Low-Income Home Loan?

When it comes to home loans with low income requirements, these programs tend to have more relaxed income, credit, and down payment requirements than conventional loans. Other advantages of these programs can include lower interest rates, discounted mortgage insurance, and reduced closing costs.

Many low-income loan programs actually have income limits that prohibit those with higher incomes from qualifying. These programs can make it much easier to qualify for a mortgage when someone has a lower income, but they do still need to be able to afford the cost of their monthly payments.

Some of these programs are specifically designed to help first-time homebuyers, and there can be grants, tax credits, and other types of assistance available to new homeowners.

An April 2024 SoFi survey of 500 would-be homeowners suggests that there is significant need for programs for low-income buyers, yet not enough people are aware of them: Respondents named home availability in their price range as their top concern, and one in five people (19%) said they were not at all optimistic that they would find a home in their budget within the next six months. Yet when asked about their awareness of financing options for buyers with lower incomes, there was widespread lack of knowledge, with one in eight buyers not aware of any of the programs.


💡 Quick Tip: SoFi Home Loans are available with flexible term options and down payments as low as 3%.*

Examples of Low-Income Home Loans

There are a few different types of home loans for low-income borrowers. Here are a few popular examples:

•   United States Department of Agriculture (USDA) loans. Even with a low income, it’s possible to qualify for a USDA loan if the borrower plans to buy a home in an eligible rural area. As a bonus, this program doesn’t require a down payment.

•   Federal Housing Administration (FHA) loans. These government-backed loans tend to come with lower credit score requirements than conventional loans and only require a 3.5% down payment, no matter what the buyer’s income level is.

•   Veterans Affairs (VA) loans. Active service members, veterans, and potentially surviving spouses can use a VA loan to buy a home without making a down payment.

How Do Low-Income Home Loans Work?

How low-income home loans work depend entirely on the specific loan program the borrower is applying to. For example, with FHA low-income home loans, borrowers must make a 3.5% down payment, but income levels don’t make borrowers ineligible for a loan.

VA loans on the other hand don’t require a down payment at all. It’s best for mortgage seekers to do careful research on each loan program to confirm if they qualify for a mortgage or not.


💡 Quick Tip: A VA loan can make home buying simple for qualified borrowers. Because the VA guarantees a portion of the loan, you could skip a down payment. Plus, you could qualify for lower interest rates, enjoy lower closing costs, and even bypass mortgage insurance.†

Pros and Cons of Low-Income Home Loans

Home loans for low-income families come with some unique advantages and disadvantages worth keeping in mind.

Pros of Low-Income Home Loans

First, consider the upsides:

•   Low to no down payment requirements

•   Easier to qualify for than conventional loans

•   Less strict credit score requirements

•   May have more favorable interest rates.

Cons of Low-Income Home Loans

Next, review the downsides of these loan programs:

•   May only work for specific applicants (like VA loans)

•   May require ongoing mortgage insurance

•   Can be harder to find low-income loan programs.

Are Low-Income Home Loans Worth It?

Low-income loan programs can be worth it if the math makes sense. It’s generally a good idea to shop around with different lenders to see which mortgage loan will be the most beneficial. It can be a good idea to compare different interest rates, mortgage insurance requirements, and fees to see which loan will cost the least.

Borrowers can research a variety of loan programs to see which may best suit their needs. For example, home loans for low-income single mothers, home loans for low-income seniors, or low-income home improvement loans are designed for different borrowers.

Steps for How to Buy a House With a Low Income

When a borrower has a low income, there are steps they can take to make buying a house easier.

•   Build one’s credit score. The higher someone’s credit score is, the easier it can be to qualify for a home loan. It’s a good idea for borrowers to check their credit score to see where they stand and if there are any mistakes on their credit report that might be harming their credit score. Consumers will want to consistently pay their bills on time if they want to help build their credit score before buying a home.

•   Pay off debt. Another technique that can help build a credit score is to pay off debt. This can be beneficial to one’s score, and the less debt someone has, the easier it can be to qualify for a home loan. Lenders take a borrower’s debt-to-income (DTI) ratio into account when deciding how much money to lend them and the lower this ratio is, the better.

•   Save for a larger down payment. The larger someone’s down payment is, the less money they need to borrow. When someone has a low income, it’s easier to qualify for smaller loans. Conventional wisdom may be that they will put down at least a 20% down payment, even if the low-income mortgage loan program doesn’t require that large of a down payment.

Recommended: What Is a HUD Home?

Low-Income Home Loan Tips

If someone is struggling to qualify for a low-income home loan, these are some steps they can take to make the process easier.

•   Find the right program. To start, finding a niche program designed to meet the applicant’s specific needs can help. For example, a single mother may want to look into low-income home loans for single mothers, as well as more general loan programs.

•   Use a cosigner. If someone’s credit score or income makes it challenging for them to qualify for a mortgage, they can apply with a cosigner who has the qualifications lenders are looking for. The cosigner needs to know they will be responsible for making payments if the main borrower defaults on the loan.

The Takeaway

While income is a major factor that mortgage loan lenders take into consideration, having a low income doesn’t need to disqualify someone from qualifying for a mortgage loan. There are low-income loan programs that can help consumers meet their goals of homeownership.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

FAQ

Can I buy a house if I make $25k a year?

Whether or not someone can buy a house with only a $25,000 a year income depends on a few different factors. The overall cost of the house, their down payment amount, and the lender they choose to work with can all impact if their income will make it possible to qualify for a loan.

What’s the lowest score you can have to get a home loan?

Generally borrowers need to have a credit score of at least 620 to buy a home. All lenders and loan programs have different requirements though, so it’s worth researching the loan programs that work for each applicant’s credit score.

Is there an income limit for first-time homebuyers in California?

Some first-time homebuyer programs in California have income limits. These limits exist to stop buyers who have high-income from taking advantage of programs designed to support low-income buyers.

Photo credit: iStock/digitalskillet

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

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

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

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

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

^†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.

SOHL-Q324-107