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While the stress of term papers and finals comes to an end once you graduate from college, the stress of building your post-collegiate life—and dealing with student loans—is just beginning.

Even if you’ve already got a job, you may have to move to a new city, and it will likely be a bit before a steady paycheck starts rolling in. Luckily, many student loans allow a grace period to give you a chance to put your life in order before you have to pay back your loans.

What Is a Grace Period?

The student loan grace period is typically six months after you graduate from school. However, the clock can start ticking if you leave school before you graduate or you drop below half-time enrollment.

Rules about grace periods can vary depending on the type of loan. You can expect a six-month grace period from Direct Subsidized and Unsubsidized Loans. Federal Perkins Loans, when they were offered, sometimes have a nine-month grace period (check with the school where you received your loan), while PLUS Loans offer no grace period at all, but if you have a PLUS Loan and need more time before you start to pay it off, you can usually apply for student loan deferment.

In general, private loans do not offer grace periods, but there are some that do. So be sure to check with your loan provider to understand their specific terms regarding grace periods.

The grace period is typically only available to you once during the life of your loan. However, there are two possible exceptions for federal student loans: First, if you are an active member of the military and you are called to service for more than 30 days during your grace period, the grace period will start over upon your return.

Second, if you go back to school before the loan’s grace period ends. One word of caution: If you consolidate a federal student loan during its grace period, you will forfeit the remainder of that grace period.

Grace periods also come with another hitch—though you don’t have to make payments during the grace period, some loans, such as a Direct Unsubsidized Loan, will still accrue interest. These interest charges are added to your principal balance, and will have to be paid when the grace period is over.

Making the Most of Your Grace Period

The main advantage of grace periods is that it gives you time to settle in to your new post-graduate life before you have to start paying off your student debt. It gives you time to do things like find a job, move to a new city, and figure out the other bills you may be paying for the first time. Ideally, this period gives you some time to build your income to the point where you can then start paying back your loans.

If you find yourself a little bit ahead of the game, you don’t have to wait for the grace period to end before you start paying back student loans. You may decide that the cost of accruing interest over the period isn’t worth the benefits of waiting. The choice you make will depend on your personal situation and income.

While the grace period may seem like a vacation from your loans, it actually might be a good time to put your financial house in order so you’re better positioned to handle them. Here are a few steps you might consider taking that can help you stay on track:

Getting Reacquainted With Your Loan Terms

First things first—gather information about all of your loans. It may be four years since you last looked at any of your loan information, so get yourself reacquainted.

You can look up your federal loans on the National Student Loan Data System , and you can request information about private loans from your private lender(s). Pay attention to what types of loans you have, whether they offer a grace period, how long the period is, and all interest charges.

Once you understand what types of loans you carry and their terms, you can determine the best options for paying them back. This will help prioritize which loans you want to tackle first.

Federal loans may offer hardship options like forbearance (temporarily halt payments) and income-driven repayment plans (longer-term payment reduction). Though private loans are less likely to offer programs like this, some do, so it’s worth checking.

Building a Budget

This may be a good opportunity to take a long hard look at your finances. While you may be just getting on your feet financially, this is a perfect time to get into the habit of budgeting. Take a look at all of your monthly income and subtract any necessary living expenses like bills, rent, and food.

What you’ve got left is the money you can devote to paying down debt and for discretionary expenses. This amount can give you an idea of how large a student loan payment you can make each month.

Figuring Out Your Monthly Payment

Federal loans often offer flexible repayment options and loan terms. For example, extending the term of your loan can help you lower your monthly payment.

Be aware that extending your term also extends the amount of time you pay interest on your loan, which can cost you more money in the long run. Weigh this consideration carefully as you decide how much to devote to monthly payments.

Considering Student Loan Refinancing

Getting reacquainted with your loans gives you a refresher on their terms and interest rates as well as the repayment options available to you. Yet, if these options don’t work for you, the good news is you’re not necessarily stuck with them.

You could consider refinancing your federal and private loans for terms that work better for your situation.

When you refinance a student loan, you are essentially taking out a new loan that pays off your old loans. Now, you only have one loan to manage, and hopefully a lower interest rate or a term that works better for you.

Typically, to qualify for student loan refinancing, it helps to have a strong credit history. For example, if you had a credit card that you paid off regularly, your credit score may be sufficient to meet lender eligibility requirements. They’ll likely consider other personal financial factors, like your income, too.

Also, before refinancing a federal loan, make sure that there are no federal benefits that you want to take advantage of, such as loan forgiveness, income-driven repayment, and other programs that are only available if you hold on to your federal loans.

These benefits don’t transfer when you refinance with a private lender. That said, other benefits may be available, depending on the lender. For example, if you refinance before your grace period ends, some lenders will honor the remainder of the period.

Make sure your grace period is time well spent, and take the opportunity to understand all your options for paying back student loans.

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

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.

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 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.

SOSL19068

If you’ve been thinking about canceling one of your credit cards, you may have heard that you should keep it open.

If so, you might be wondering, “Why? Is it bad to cancel a credit card?”

The answer, as with most finance-related matters, is that it depends on your specific situation, including the reasons you’re thinking about closing that card.

Perhaps, for example, your credit card company has changed its terms in a way that’s not acceptable to you, or you just want to simplify your finances by having fewer credit cards in your name.

“Can I cancel a credit card?” is, of course, different from “Should I cancel a credit card?” Keep reading to find out the difference between the two, some pros and cons, and other considerations.

Note that this is just an overview of common tips, questions, and hypotheticals. Only you can decide for yourself what makes the most sense for your unique financial situation.

Times When You Might Consider Canceling

If a credit card is costing you money, maybe because of annual fees, then you might be thinking about closing that card, especially if you don’t really use it. Before you do, it’s possible to the credit card company to see if the fees can be waived. There is no guarantee that the answer will be yes, but it doesn’t hurt to ask.

Maybe you find yourself putting impulse purchases on this card and you can’t pay the balance off in full at the end of the month. Then you may decide to cancel the card to get your debt under control.

Or you may learn about a card that offers great rewards you could benefit from, whether that’s cash back, loyalty points, frequent flyer miles, or something else.

So you might decide that a reward credit card would be better suited for your needs and you’re thinking about closing your current card and using this one instead.

That may be the right choice for you. Note, though, that reward cards typically have a high annual percentage rate (APR), so if you don’t pay your balance off in full each month, this may not be the best fit.

Here’s another scenario. Let’s say that your credit card has a high interest rate. Does it make sense to shop around for a better one and transfer the balances? What about applying for a zero interest credit card?

More About Zero Interest Credit Cards

You’ve probably seen offers for no interest credit cards and may think that you should apply for one and transfer your balance from a high interest credit card to this one. And, in certain circumstances, that may make sense for you.

If, for example, the new credit card would give you a six-month introductory window to pay off your balance or at least significantly pay it down at zero interest, you might end up saving a nice amount of money on interest.

On the other hand, the interest rate will go up after the introductory period—and it’s possible that it would be higher than your current credit card. So be mindful about this process and investigate the specifics before transferring your balances.

There are other potential problems. Sometimes, if you don’t pay the entire balance off during the introductory period, the company collects interest on the entire principal, even if your remaining balance is close to zero. So, in this case, nothing was really free about this credit card, and it may end up costing you more money in interest.

In addition, sometimes there are fees attached to the transfer. When that’s the case, typical fees might be about 3% of the balances you’re transferring, with some as high as 5%—and, if the zero interest credit card you’re considering has fees of 5%, that’s $500 on a $10,000 balance!

Circling back to the main issue, if you decide to transfer your balances to a no interest credit card, should you cancel your old one?

If you keep both the old card and the new one, and end up using both of them, you may end up in more debt than if you hadn’t done the transfer in the first place. There is no one right strategy to take, so it’s important to create a plan that works for you.

So, can you cancel a credit card? Of course you can. But, the more important question may be whether you should—and to help you make your decision, here are some common reasons you might not want to cancel that card.

Before You Cancel

Having debt and managing it responsibility—including credit card debt—can be seen as a plus by creditors. And if you cancel a credit card, under certain circumstances, it can have a negative impact on your credit.

Is your credit utilization rate under 30%? That can show lenders you can use credit responsibly. A credit utilization rate is the percentage of available credit you’re currently using—so if you cancel a credit card, the amount of credit you have available to you will go down by the amount of the unused credit on that card.

For example, a credit card with a credit limit of $10,000 and a $2,000 balance on it, then there’s $8,000 of available credit on that card. Cancel that card and that $8,000 available credit vanishes, which causes overall credit utilization rate to go up.

Another factor in your overall credit score is the average age of accounts. If you cancel an older card in your name, this can lower the average age of your accounts, though even closed accounts remain on your credit report for seven to 10 years.

•   If you do decide to cancel a card, good rules of thumb include:

•   Before canceling a card, continue to make payments on time until the balance is paid in full.

•   Check credit scores afterward to make sure no errors occurred.

•   Avoid closing several of them at once, because this could look suspicious to creditors.

Contact the company to find out exactly what needs to be done to close the account. Simply cutting up your card isn’t actually closing it. If there is an annual fee associated with the card, you could still be charged that amount.

Using the Credit Cards You Keep Open

If you decide to keep all or some of your credit cards open, these ideas could provide guidance on their use.

Once your credit-worthiness is established, you might start receiving credit card offers. Maybe a whole lot of them. And when you go into a store, you might be asked if you’d like to apply for one of their credit cards—and they might offer you discounts and other perks to say yes.

Each time you apply for a credit card, however, it can trigger a credit inquiry that’s called a “hard pull” or “hard credit inquiry.” If this happens too often in a short amount of time, it could affect your credit score.

Does a credit card offer cash advances? If so, you might want to check the APR you’d pay if you’re considering a cash advance. It’s likely to be several points higher than paying for a specific purchase with the card. If you use your credit card at an ATM, you may also need to pay a fee, so it’s often better to use a debit card or write a check when you need cash.

Another option is to contact your credit card company and ask for a better interest rate/APR. A 2018 poll for CreditCards.com showed that 56% of the people who asked got a thumbs up to their request. And 70% of those who asked to have their annual fee waived or lowered got a positive response.

Managing Credit Card Debt

Perhaps you’re trying to determine how much credit card debt is too much for you. If so, then having the ability to make the minimum payment each month typically isn’t the best benchmark, because paying only the minimum can cause your debt to grow because of compounding interest.

It can make sense to use the concept of credit card utilization to determine if you’re being smart with your credit card management.

As another check, you could calculate your debt-to-income ratio, especially if most of your debt is credit card debt. If it’s higher than you’d like, this may mean it’s time to take action on your credit card debt.

Your debt-to-income ratio shows how much of your pretax income goes toward paying monthly debt—and when it’s high, some lenders might be reluctant to lend to you or may charge a higher interest rate. They might decline to lend you any money at all.

If you decide that it’s time to pay off your credit card debt, there are many methods and strategies out there, including the snowball method. Steps include the following:

•   Choose the account with the smallest outstanding balance to pay off first.
•   On other accounts, pay the minimum amount due to avoid late fees.
•   With your targeted account, pay as much as possible with the goal being to pay it off as soon as you can.

Once that account is paid off, select the next account with the lowest balance and repeat the process, but add the amount you were paying on the initial balance (thus, the snowball).

This can be an effective method of paying off credit card debt because it builds momentum and creates incremental financial victories, but it doesn’t address interest rates. So it’s important to factor in higher-interest debts before embarking on a strategy like this one.

Whether you choose to use the snowball method or another strategy to manage and pay down debt, at the heart of it all is effective budget tracking.

Tracking what you spend could help you decipher where you’re overspending—and, with today’s virtually frictionless spending, that’s easy to do. Sometimes, people who start to track their spending for the first time discover they’re actually spending hundreds of dollars more in certain categories than they realized.

Until you have financial benchmarks to monitor, it can be hard to make meaningful changes in your spending and saving habits. With accurate tracking, though, you may find yourself feeling inspired to eliminate some expenses (perhaps unused online subscriptions) and reduce others (maybe your cell phone bill).

Although this might initially feel tedious, it could give you the freedom to spend your money on what really matters to you.

Taking Out a Personal Loan

Another option to help crush your credit card debt could be an unsecured personal loan. Taking out a credit card consolidation loan could help consolidate your debt and get it back under control.

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 .

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.

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

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.

SOPL19075

Most military spouses understand going in that their married life will come with a distinct set of challenges.

When a husband or wife who serves is deployed, many of the duties married couples expect to share—from caring for children to running the household and making ends meet—fall to the one who stays behind. And the frequent moves military couples typically experience can be disruptive to careers, families, and friendships.

The federal government provides many forms of financial assistance and other benefits to personnel and their partners to make military life easier, including help with moving, job hunting, child care, and health care.

There are some educational benefits for military spouses as well. The Department of Defense’s My Career Advancement Account (MyCAA) Scholarship Program currently provides up to $4,000 in tuition assistance to eligible military spouses who wish to pursue certain associate degrees, certifications, or licenses for in-demand portable careers.

And the transferability option of the Post-9/11 GI Bill allows service members to assign all or some of their unused benefits to a spouse or dependent children.

Those benefits don’t cover past college debt, however. There isn’t a designated military spouse student loan forgiveness program or a military spouse school loan repayment plan.

There are options, though, for those who are struggling with student loan debt. Here are just a few options you may consider looking into:

Public Service Loan Forgiveness

Military spouses who share their loved one’s passion for helping others and want to have a career in public service—at a nonprofit organization, in public health, education, law enforcement, or government, for example—may want to check out the Public Service Loan Forgiveness Program (PSLF).

This program forgives the remaining balance on some federal loans after the borrower has made 120 on-time monthly payments under a qualifying repayment plan while working full time for a qualifying employer.

Private student loans are not included in the program, and only federal loans received under the William D. Ford Direct Loan Program are eligible for PSLF.

Those who have loans under other federal student loan programs, such as a Federal Family Education Loan (FFEL) or a Federal Perkins Loan, may become eligible if they consolidate them into a Direct Consolidation Loan.

However, only qualifying payments made on the new Direct Consolidation Loan can be counted toward the 120 payments required for PSLF.

The program has its pros and cons, and it certainly isn’t a quick fix. Applicants must be vigilant about tracking their employment through the years, and getting certified can be complicated.

According to the June 2019 PSLF Report Other Sources of Assistance

Those who don’t qualify for PSLF may be able to find career-based repayment assistance from other sources.

Under the Teacher Loan Forgiveness Program, for example, someone who teaches full time for five complete and consecutive academic years in a low-income school or educational service agency—and meets certain other qualifications—may be eligible for forgiveness of up to $17,500 on Direct/Federal Stafford Loans.

Nurses also may be eligible for help with their student loans through federal programs like the Nurse Corps Loan Repayment Program or the National Health Service Corps Loan Repayment Program.

The amount of repayment in those programs can vary depending on the nurse or nurse practitioner’s length of service at a qualifying facility, but they could knock thousands of dollars off an eligible person’s debt.

Many industries and professional associations also offer student loan repayment assistance, with programs for lawyers, doctors, medical researchers, and others. And there may be opportunities to apply for student loan help through state and local programs as well.

Federal Repayment Plans

For borrowers who don’t necessarily qualify for those career-related forgiveness and repayment programs, there are other options out there for those who apply and meet certain criteria.

The government offers four income-driven repayment plans that could lower a military spouse’s payments: the Revised Pay As You Earn Repayment Plan (REPAYE), the Pay As You Earn Repayment Plan (PAYE), the Income-Based Repayment Plan (IBR), and the Income-Contingent Repayment Plan (ICR).

Under all four plans, after making qualifying monthly payments, borrowers will be eligible for forgiveness on remaining loan balances. Keep in mind that lowering your monthly payment will likely mean paying more in interest over the life of the loan.

Military spouses can get an idea of what their payment will look like by logging in and using the Repayment Estimator at StudentLoans.gov. This tool can compare payments under different federal repayment plans to help find which one is right for you and your situation.

One thing to remember is that under an income-driven plan, the amount that’s forgiven is sometimes treated as taxable income—so a borrower may end up with a tax bill in the year the debt is forgiven.

Refinancing to a More Manageable Payment

You may have noticed that most of the options listed above are limited to borrowers with certain types of federal student loans and who are willing to do a bit of legwork.

But those who don’t have qualifying loans—or those who think they can find a workable repayment plan elsewhere with a more competitive interest rate—may want to check into refinancing student loans through a private lender.

Refinancing offers borrowers a chance to adjust their monthly payments and choose new repayment terms. And military spouses with multiple loans may find they like the idea of combining them into one manageable payment.

Lenders may offer both fixed and variable interest rates, varying loan lengths, and autopay options so borrowers can tailor a loan to suit their specific needs. Finding rates and applying online for a refinancing loan usually only takes a few minutes.

Before shopping for offers, however, it’s important to note that refinancing federal student loans turns them into private loans, which means losing access to all federal forgiveness programs, repayment plans, and other federal benefits and protections.

Once a borrower refinances with a private lender, there’s no going back to a federal loan or the advantages it may offer.

But borrowers who have good credit and solid employment (among other factors) may find they can qualify for a lower interest rate and/or a shorter repayment period—or to lower their monthly payments via extending their repayment terms—as well as other perks by refinancing with a private lender.

For example, SoFi offers member benefits that include career counseling, networking events and a referral program. And some private lenders, including SoFi, will combine and refinance both federal and private loans so there’s just one student loan bill to pay every month.

Dealing with life as a military spouse can be difficult enough without also having to grapple with the stress of student debt. Though there currently aren’t any student loan forgiveness or repayment programs designed specifically with military spouses in mind, there are ways to help get rid of that extra burden.

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

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.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

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 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.

SOSL19079

More Americans than ever before are taking to the skies to travel to new countries. According to the most recent statistics from the U.S. Commerce Department’s National Travel and Tourism Office, a record 93 million Americans traveled internationally in 2018. Now it could be your turn to pack your bags and go.

But, before you go anywhere packing is a necessity. One good way to pack for an international trip is by making a list and checking it twice, then maybe a third time, to ensure you have everything you need. Here’s a quick list of things you might want to pack for international travel based on an eight-day trip.

What Clothes to Pack When Traveling

Your clothing packing list might vary depending on your destination and length of stay. But, in general, bringing layering options works well.

Not only could this help you overcome any temperature swings, it might also allow you to mix and match to create more outfits with fewer articles of clothing. For optimal flexibility, you might want to bring clothes that fit into a similar color palette.

Shirts: Four short-sleeve shirts and two long-sleeve options. You could also pack one nicer blouse if you know you’re going somewhere with a dress code.

Pants: Two—yes, just two—pairs. On an eight-day trip, you should only need one lightweight and one heavier pair of pants, like jeans, to get by.

Undergarments: A pair of undies for each day of your trip and one extra pair just in case your flight is delayed. And you might want to pack at least two pairs of socks, depending on your destination, preferably made from moisture-wicking material.

Bathing suit: You might want to throw at least one bathing suit in your bag, even if you aren’t going somewhere warm. You never know when a hotel may have one or the opportunity for swimming will arise.

Shoes: Shoes can be bulky, so you might want to minimize the number of pairs you bring. Sightseeing often requires lots of walking, so you could bring along one pair of sturdy, supportive shoes you can walk miles in.

A pair of nicer shoes, like loafers, dress shoes, boots, or heels, for dinners or evening events could come in handy as well. Ideally, these will be comfortable as well. If your suitcase is tight on space, you might want to wear the bulkiest pair on the plane.

Jacket: This, again, depends on where you’re going. But, for most destinations, you’ll likely need just one: Either a light coat for warmer destinations or a heavier coat to cooler climates. You could wear this on the plane to save room in your bag and it could double as a blanket if you get cold in-flight.

Sleepwear: A T-shirt and a pair of shorts or lounge pants can easily fold into a side pocket of your bag, saving you space.

Toiletries and Personal Health

The good part about traveling internationally is the fact that your hotels—and even most home-share rentals—likely come with toiletries included. So unless you have preferred brands, you could skip the shampoo, conditioner, or body wash. However, there are still a few things you may want to pack for yourself.

Hairbrush or comb: A small brush or comb packs away easily and might help keep you presentable.

Small plastic baggies: Many airports require travelers to take any liquids out of their bag and place them in small plastic baggies before going through security. You could save some time and pack your own.

Laundry soap: You could pop a little laundry soap into a small container and put it in your toiletry bag. Though you may not be able to find a washer and dryer everywhere you go, you could still launder your clothing in a hotel sink or shower if need be.

Diarrhea medication: There is nothing quite as bad as getting an upset stomach while traveling. But traveling means mixing up your routine and trying new foods, both of which can affect your gut health. And traveler’s diarrhea is an unfortunate reality for 30% to 70% of travelers of travelers according to the Centers for Disease Control and Prevention (CDC). Having some remedies on hand could help if you’re one of them.

Pain relievers: Headaches, muscle aches, or general pains can get you down on the road. You could bring a bottle of your preferred pain killer so minor aches and pains don’t prevent you from enjoying each day of your vacation.

Eye drops: For those with contact lenses, you might want to make sure you pack enough solution to last for your entire trip. For those who wear glasses or don’t need any corrective lenses, eye drops might come in handy if allergies act up.

Benadryl: Speaking of allergies, it could be prudent to pack some Benadryl in case of unforeseen allergic reactions.

Tech-Savvy Travelers

It’s 2019, which means you probably don’t leave home without your electronics anyway. But, there still may be a few tech-savvy items you might forget.

Smartphone: Yes, you’re likely going to bring along your phone. But, before you go, you might want to download any apps you may need in your destination. That could include offline maps, language translators, airline apps to keep all your documents in one place, and more.

GPS system: If you’re going off the beaten path, or anywhere you’re unfamiliar with, it could be smart to bring along an external GPS system, a GPS watch, or download a GPS app on your phone. That way, you’ll always know how to get to where you’re going.

Camera: Though your phone likely has a camera built in, you may want to bring a dedicated camera capable of taking higher-quality images and video, like a DSLR. With it, you might also bring along an extra battery, a charger, and at least two memory cards just to be safe.

Chargers: Before you depart, you could catalog each of your electronic items and ensure you not only have a corresponding charger but also have the corresponding adapter for the country you’re heading to.

Important Documents

On your trip, you might need a few documents. You could keep them all handy in a folder that stays in the same pocket of your bag throughout the trip.

Passport: This is a biggie. Not only will you not be able to board a plane, but you’ll likely not be able to enter many places, or return home, without it.

You might want to print out a copy of your passport and passport photo. This way, if your passport is lost or stolen, the local embassy may be able to expedite a new one.

Car rental and hotel reservation agreement: You might consider printing out your car rental agreement with all the pricing listed so you don’t need to haggle on arrival. Same goes for hotel reservations.

Money and Insurance

You won’t get very far if you forget your dollars—or pesos, or francs, or euros—or whatever other foreign currency you need.

Cash: You could bring a mix of local currency, but you might not want to bring too much on your person. That way you minimize your own security risk, but still have enough handy for a cab, a coffee, or a tip. A debit card that offers reimbursement for ATM fees worldwide could also be an asset while traveling. With SoFi Checking and Savings®, you can use any ATM that accepts Mastercard® and be reimbursed for the fee. (subject to change)

Copy of your travel insurance: While travel insurance isn’t a requirement, it could be a handy addition for longer, more expensive excursions. It could help protect you in case of emergency, evacuation, or could even help you get reimbursed if you need to cancel all or part of your trip.

The Little Extras

Here’s where you can get a little fancy-free with your luggage and pack a few items you simply must have with you. Some fun additions may include:

A journal: You could create an archive of your favorite travel experiences. It might include a record of restaurants you loved, amazing museums, and the people you met along the way. With time, little details can become fuzzy, and having a journal detailing your trips and adventures might be invaluable.

A scarf: This is a versatile item for any traveler. It can help keep you warm, add a little life to an outfit, and it can double as a blanket (or pillow) on long-haul flights.

A great book: Traveling sometimes means you’ll be sitting—a lot. Planes, trains, and automobiles take a lot of time, which you could put to good use by reading a great book along the way.

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There are no two ways around it; college is expensive. According to the College Board , the average annual cost of a four-year private university for the 2019-2020 school year is $36,880.

And that’s just the cost of tuition and fees. (Oof, it hurts.)

Comparatively, the average sticker price of a public, four-year, in-state college shakes out to about $10,440 per year. A public, two-year, in-district college, on the other hand, costs $3,730.

(It should be noted that the sticker price isn’t always what a student pays, due to financial aid.)

One clever way to help minimize the ever-growing expense of college is for students to spend two years in community college and then transfer to a university, where they finish up their four-year degree.

Depending on the schools, this move could save a student thousands of dollars—and they still end up with a diploma from their university of choice.

Transferring from community college to university requires research, diligence, and a good schedule-keeping system. But for many students, the extra work can most definitely be worth it.

Here, we go through some steps for how to transfer from a community college to a four-year university, including a discussion on how to finance your new, more expensive four-year college or university.

Transferring from Community College to University

Providing universal instructions on how to transfer to a four year college is tricky, because each school will have different requirements and deadlines for prospective transfer students.

That said, here are some basic guidelines that may help; supplement this information with your own research from both the community college and the universities to which you’re interested in transferring.

1. Consider Your Options

Typically, the earlier you begin to research options for transferring to a four year college, the better. Not only should you confirm in advance that your desired four-year university accepts transfer students, but it’s a big bonus if they’ve established a defined pathway between the two.

While it’s great to have a first-choice university, it may be smart to have backup options as well. Some states may have programs that offer guaranteed enrollment for transfer students that qualify, but most do not. Just as is the case with traditional admissions, a student may not get into their first choice of school.

Additionally, having multiple options can also protect you in the event that credits don’t qualify or something else in the transfer process goes haywire.

Also, it can be hard to predict how much aid you’ll receive from each school; for example, a more expensive school may offer a larger scholarship. You could contact each school’s financial aid office to get a sense of what they may offer.

2. Strategize Your Coursework

When figuring out how to transfer from a community college, taking the right credits is key. It can be hard to pick what you’ll major in when you have yet to learn about all of your options.

But doing so may make your transfer path more fluid. If you have a major direction in mind, see if your desired universities’ have specific requirements to get into that program, including requisite courses.

Whether or not you’ve decided on an area of study, you may be able to enroll in your prospective university’s general education requirements. For example, there are likely general education requirements in the humanities even if you’re planning to be an engineering major.

Often called an “articulation agreement,” universities will guarantee that certain credits taken at a community college will qualify at their institution. Examine the articulation agreements between the schools that you are considering so you know exactly what courses to sign up for.

3. Meet with Counselors

There are counselors at both community colleges and universities who can help make sure the transfer process runs as smooth as possible. Never be afraid to ask questions; this is what counselors are for! Take advantage of the advice and wisdom of a person who has seen the process through many times.

You may want to meet with your community college counselor as soon as you enroll. Explain to them your goals for transferring to a four year college and see what resources they can provide to you.

Make sure to ask not only about the logistical process of transferring, but about options for student aid, especially aid you don’t have to pay back, like scholarships.

If possible, see if you can visit the universities you’d like to attend and meet with a transfer counselor while there. Sometimes, it’s just easiest to talk with someone.

Even if you’re not able to meet with a counselor in-person before you transfer to a university, schools may provide the option to email with a counselor or speak on the phone. Give the admissions office a call and set up a time to chat.

4. Stay on Top of Deadlines

Transferring from community college to university requires diligence on deadlines, so you may want to get a planner or get comfortable with your online calendar. Set reminders for yourself to start working on applications and essays, and to collect important documents and letters or recommendation, well before their due dates.

It is common for students to apply to a university during their second year in community college. If this sounds like you, then the summer before your second year begins is likely a good time to get prepared by collecting applications, writing down dates, and making a plan for completing your applications in addition to your coursework.

5. Do Your Best in Class

In addition to preparing your transfer applications, it’s important to do well in your classes; almost all schools have a minimum required GPA for transfer students. Others may use an applicant’s GPA, along with other variables, to determine whether a student will receive an acceptance and student aid.

While you’re in community college, it may be worth considering whether you should complete an associate degree. An associate degree could be another weapon in your arsenal of accomplishments.

6. Apply to Schools

As mentioned above, many community college students apply to transfer to a university during their second year of coursework. Even if you’ve been enrolled for longer than two years, begin thinking about applications at the beginning of the school year before the year you’d like to transfer.

Every university or university system will have their own due dates for applications and all of the paperwork that is required throughout the process—letters of recommendation, transcripts, and so on.

If ever you have a question about a particular university’s deadlines, the information should be on their website. If you can’t find the information there, contact a counselor at the prospective university.

7. Prepare for College

After applying and turning in all of the requisite paperwork, the application process becomes a waiting game to see where you’re accepted. Typically, you should hear back by the spring before your desired transfer year. (These timeframes will be different if you’re transferring mid-school year.)

Did you know that transfer students are more likely to graduate from university than students who were admitted as freshmen? The National Center for Education Statistics did their first-ever study of transfer students in 2017 and found that 66% of transfer students go on to graduate from four-year public universities, compared to 59% of full-time students who started out at those same schools.

While transfer students have the statistics on their side, it doesn’t mean that university won’t be tough work. To help set yourself up for success, getting organized the summer before transferring over can be a big help.

Solidify living arrangements, if you haven’t already. Accumulate what you’ll need to live out on your own, especially if it’s your first time doing so. Don’t wait until the last minute, stressing yourself out before classes begin.

8. Know Your Financing Options

For most students, university is going to be more expensive than community college. Therefore, you are going to need a plan for how you are going to pay for it.

If you are taking out student loans for community college, it is unlikely that this aid will follow you to your new school. Most federal student aid won’t automatically transfer , but always check with the financial aid office at your new university and your aid provider to be sure your new university participates in federal student aid programs.

That said, student loans from community college do not simply “go away.” After completing credits at a community college, you could let your loan providers know that you will be transferring. That’s because as soon as you are no longer enrolled in that school, your loans could go into their grace period or repayment. You can learn more about what to do to avoid this from the U.S. Department of Education right here .

All transfer students should continue to fill out the Free Application for Free Application for Federal Student Aid (FAFSA®) . Luckily, transfer students may have already done this to receive federal aid for community college, and simply need to re-submit with their prospective universities’ information.

If nothing about your or your family’s financial situation has changed, your expected family contribution (EFC) will also likely stay the same. You may see an offer for federal aid that is very similar to the one you were offered for community college, though this won’t always be the case.

For admission at the beginning of the following school year, students can submit their as early as October 1st as October 1st. Most states and schools have deadlines for filing the FAFSA in the winter or early spring.

Don’t wait until the day before the deadline to turn yours in, though; there’s aid that’s doled out on a first-come, first-served basis. The FAFSA helps schools determine who qualifies for federal aid, like federal student loans and grants, but many states and schools also use the FAFSA to determine who qualifies for scholarship money.

According to the Federal Student Aid office, it’s hard to predict just how much aid a transfer student can expect to receive. “There are a variety of factors that will affect the amount and types of aid you’re eligible for at your new school.

“The cost of the school, the aid programs the school offers, and even the time of year you transfer—among other factors—may affect the amount of aid you receive.”

Don’t feel like you have to figure this all out on your own. Remaining in contact with your school’s financial aid office throughout the entire process is likely a smart step. They can help you navigate the somewhat difficult waters of financing two different college experiences.

If you find that you need more help financing your education outside of federal aid, you could also check out private student loans. While we believe you should always exhaust the federal aid options available to you first, SoFi offers no-fee low-rate private student loans that can help make paying for school a bit less stressful.

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