SoFi

Pursuing a college degree can put you on a path to the career of your dreams. But the price tag of tuition, housing, and textbooks can be pretty steep. And if you’re a parent or caregiver, you’re faced with an added obstacle: “How can I afford child care while I’m in school?”

Fortunately, there are a bevy of options out there for adult students with children. On-campus daycares, grants, scholarships, and federal and private student loans can all help alleviate the cost of child care. You don’t have to let the challenge of going to college with kids stop you from reaching your goals.

Keep reading to learn more on how to pay for child care while in school, including childcare assistance programs, free daycare for low-income families, and more.

Paying for Daycare as a Student

One of the biggest financial struggles working parents face is paying for daycare. In 2022, American households spent close to $11,000 annually for child care costs, according to Child Care Aware of America. If you’re a parent returning to college, you may have the extra burden of tuition, housing, and textbooks. You may also have to scale back your job hours to accommodate your schedule.

But child care is essential for adult students. Someone has to look after your little one while you attend class. Even if your school is 100% online, you’ll need uninterrupted time to study, write papers, and answer discussion questions.

Let’s take a look at some avenues of financial support, so you can focus on getting your degree while caring for your family.

Tips to Help Pay for Child Care as a Student

The decision to return to college may not have been in the budget when you financially planned for a family. And with the cost of child care being more than some tuition, the prospect of going back to college with kids can be daunting. Take solace in the fact that you are not alone.

Fortunately, there are resources to help you. Many higher education institutions provide child care grants and subsidies. You can also turn to federal student aid, private student loans, and scholarships to help get you that degree and daycare for your children.

Financial Aid

Student financial aid provides funding used to cover the costs of higher education. It can come in the form of student loans, either from federal or state governments. Scholarships and grants are another fantastic way to help ease your financial anxiety.

To apply for federal financial aid, including scholarships, grants, and federal student loans, students will need to fill out the FAFSA® (Free Application for Federal Student Aid). This form will determine how much financial aid you qualify for. It’s also prudent to contact your school financial aid office directly. Talk to them about how they can help you factor child care into the cost of your attendance.

Private Scholarships

Because a private college scholarship doesn’t generally need to be repaid, it can be thought of as free money awarded to pay for school. They are typically based on financial need or merit — grades, test scores, or talent — and (good news!) there are also scholarships available specifically for students with dependent children.

You can find more information on scholarships and how to use them toward child care from government resources, a college financial aid office, or a high school counselor. Be sure and pay attention to scholarship submission deadlines so you don’t miss out on funds.

Recommended: What a Merit Scholarship Is & How to Get One

Federal Student Loans and Grants

Many students seek financial aid for college through federal student loans. Federal loans typically have low, fixed interest rates and don’t require a cosigner or a credit check. You don’t have to worry about repayment until after college. These student loan funds are used for tuition, housing, computers, and textbooks, but it’s also possible to put them toward child care. Reach out to your school to ask if they can factor in child care costs to the price of attendance.

A Federal Pell Grant is awarded by the government to students from low-income households, based solely on financial need. While a Pell Grant won’t guarantee you free child care, the expense of having a child reflects directly on your income, which can consequently raise the amount of funds you may be eligible to receive. That money could help pay for daycare. Like scholarships, grants also do not usually have to be repaid.

Private Student Loans

When scholarships, grants, and federal financial aid aren’t enough, you can turn to private student loans to help cover the cost of daycare. These loans are issued by online lenders, banks, and credit unions. The lender will check your financial history and credit score to calculate the amount you qualify for. If you have limited job experience or your credit score isn’t the greatest, a cosigner can pledge responsibility for your loan.

With private student loans, you can typically borrow up to the cost of tuition and other qualified educational expenses. Unlike federal loans with strict deadlines, you can apply for a private student loan at any time during the year.

Keep in mind that private loans tend to have higher interest rates, and some may require payment while you’re still attending college. Additionally, private student loans aren’t required to offer the same benefits or protections that are available to federal student loan borrowers. For this reason, they are generally borrowed only after all other financing options have been thoroughly considered.

Recommended: Private Student Loans vs Federal Student Loans

Seek Out Lower Cost Daycare

Once you’ve secured funding, the next step is to find affordable daycare so you can stretch your monetary aid to the fullest.

In 2018, Congress tripled what’s called CCAMPIS — Child Care Access Means Parents in School. CCAMPIS awards funds to educational institutions to help make child care affordable for low-income students. Contact your school to see if they’ve received such funds and have child care services available.

You can also investigate child care assistance programs, such as Child Care Aware of America. The organization provides tools to search for lower-cost child care facilities near your school.

Tax Credits

Several tax credits can help offset the cost of child care while in college, including:

1.    Child and Dependent Care Credit: Offers up to 35% of qualifying childcare expenses for children under 13, based on your income.

2.    Earned Income Tax Credit (EITC): Provides financial support for low-to-moderate-income families with qualifying children.

3.    American Opportunity Tax Credit (AOTC): While focused on education expenses, it indirectly helps if child care allows you to pursue studies.

4.    Lifetime Learning Credit (LLC): Similar to the AOTC, it can free up funds for child care by offsetting tuition costs.

Consult a tax professional for specific eligibility.

Schools with Child Care Resources

Many schools, including both community colleges and universities, have low-cost child care facilities on campus for undergrad and graduate students. These supportive centers not only offer developmental programs for your child, but are also tailored to the needs of student parents, with extended hours in the evening and weekends. Spots can go fast, though, so be sure and inquire about program availability as soon as possible.

Some colleges offer child care subsidies to adult students in the form of daycare grants, a taxable subsidy. Whether you have a newborn or a high schooler, you may meet the criteria for these funds, and many have no requirement for the money to be used solely for daycare. Daycare grants are purely to support student parents to achieve their dreams of higher education.

Remember, it takes a village to raise a child, and a college is a community. Most institutions have online student-parent support groups, where you can search for daycare services, nanny shares, and babysitting services. Valuable information can often be found on the school’s website or through student services.

The Takeaway

Being in college as a parent may seem overwhelming, especially when it comes to how to pay for child care as a student. But between federal and private student loans, grants, and scholarships, you don’t have to wait until your baby’s all grown up to get that college degree. There are loads of resources to support you, from parent groups on campus to federal financial aid packages, all of which strive to make your college journey as a parent easier.

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 I use student loans to pay for child care?

Yes, student loans can be used to pay for child care as part of your cost of attendance. Many schools include child care expenses in their financial aid calculations, allowing you to allocate loan funds for this purpose. Check with your school’s financial aid office to confirm eligibility and limits.

Does FAFSA cover child care?

FAFSA does not directly cover child care, but it helps determine your eligibility for financial aid, which can include funds for child care expenses. Many schools allow you to include child care costs in your cost of attendance, potentially increasing your financial aid package to help cover these expenses.

Can I get a student loan to take care of my child?

Yes, you can use student loans to cover child care expenses as part of your cost of attendance. Many schools factor in dependent care costs when calculating financial aid, which may increase the amount you can borrow. Check with your school’s financial aid office for specific eligibility and limits.

Photo credit: iStock/Moyo Studio
SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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

Community colleges offer a more affordable path to a Bachelor’s degree for students who are interested in transferring to a four-year institution. Students at community college can fulfill general education requirements on a flexible schedule while earning their associates degree. However, community colleges don’t offer a Bachelor’s degree option and can lack student life and extracurricular opportunities.

Community colleges can be a great fit for some students, while others may prefer to start out at a four-year college or university. Keep reading to learn more on the similarities and differences between community colleges and four-year universities.

What Is a Community College?

Community colleges are one type of postsecondary institution. Sometimes called junior colleges, these are educational institutions that offer two-year degrees and a path to transferring to a four-year college or university.

Community College vs University: How They Compare

Community colleges, as mentioned, generally offer two-year associates degrees. In comparison, colleges and universities often offer four-year degrees, such as a Bachelor of Arts or Sciences.

Similarities

Both types of colleges have some similarities, including the types of aid that you may receive to attend.

Financial Aid

It’s possible to get student loans for community colleges. Students at both community colleges and four-year universities may qualify for the same types of federal financial aid. These options may include scholarships, grants, and federal student loans.

Prerequisite Courses

Community colleges will offer some of the same prerequisite courses as universities. Classes like General Chemistry 101 or Microbiology 101 are similar at community colleges, and students may be able to transfer these prerequisite courses toward a four-year degree if they choose to transfer.

Academic Challenge

It’s easy to think of community college classes as a breeze to complete — but, in many cases, community colleges offer academically rigorous classes that cover material comparable to those offered at four-year institutions. Additionally, community college professors do not conduct research, so there may be more of a focus on in-classroom instruction at community colleges than at four-year colleges or universities.

Differences

There are also plenty of differences between attending a community college vs. university. In addition to the estimated time to earn a degree and the type of degree available, these include things like the cost of attendance, class size, and the application process.

Cost

Attending a community college can be significantly cheaper than going to a four-year university. For example, at schools that are part of the California Community College system, the cost of classes is $46 per credit unit. According to the Education Data Initiative, the average cost per credit at a four-year university with in-state tuition is $447.

Recommended: How to Pay for College

Class Size

The average class size can vary dramatically depending on the school you attend. Community colleges typically have class sizes that hover around 25 to 30 students, depending on the course and school. Some four-year universities can have class sizes into the hundreds, especially for intro-level courses.

Application Process

The application process at a university vs. community college can be much more competitive. At many four-year colleges, the application process consists of requirements like a college essay, recommendation letters, and high school transcripts. Additionally, schools may have strict deadlines for admissions each year.

Community colleges often offer more flexibility in the application process. Many community colleges are open access, meaning almost anyone can enroll in classes. There may be restrictions for certain programs or classes, though, such as classes required for nursing programs.

Campus Life

While some community colleges may offer on-campus housing for students, a large number of them will continue to live at-home or off-campus. This can make on-campus life feel very different than at a four-year college where most students live on-campus.

Pros and Cons of Attending a Community College

There are both downsides and benefits of community college. Community colleges can offer an affordable path to get a four-year degree, but transferring and a lack of on-campus community can detract from the community college experience. Below are the pros and cons of attending a community college.

Pros of Community College

Cost

One of the top pros in the community college column is the price tag. As previously outlined, courses at community college can be significantly less costly than at a four-year institution. For students who are paying for college without parents’ help, starting at a community college can help them significantly lower the cost of their overall degree.

Additionally, students may be able to continue living at home with their family, which can cut costs even further since they won’t be paying for room and board.

Flexibility

Community colleges have flexible scheduling options that can make working while you are in school easier.

Students may also be able to take a variety of classes if they are not sure what field or major they’d like to pursue at a four-year college.

Qualified Professors and Small Class Sizes

As already mentioned, community colleges may offer smaller classes. These small class sizes can lead to more hands-on professors and lecturers — who may be just as qualified as those at larger universities.

Cons of Community College

Limited Curriculum and Degree Programs

Community colleges can be a good place to explore interests and fulfill general requirements for a four-year degree, but they may be limited in the types of courses available.

Need to Transfer for Bachelor’s Degree

To pursue a bachelor’s degree, community college students will need to transfer to a four-year institution.

Lack of On-Campus Life

Because many students live off-campus, on-campus activity and extracurriculars may be limited.

Pros and Cons of Attending a University

Attending a four-year college or university can have pros and cons — just like its community college counterpart. Some benefits of universities include improved long-term earning potential and the opportunity to build a network. The major downside can be the steep cost.

Pros of a University

Long-Term Earning Potential

Bachelor’s degrees can lead to a significant boost in earning potential. According to the National Center for Education Statistics, individuals with bachelor’s degrees can earn up to 35% more than those with an associate’s degree.

Plus, a bachelor’s degree is sometimes a prerequisite for careers in some fields, like human resources, marketing, or computer science and software engineering.

On-Campus Life and Extracurriculars

Many colleges have a rich on-campus life with an active student body and a variety of extracurriculars. Depending on your interests and the school you attend, you could participate in the school’s television and radio station, join an intramural sports team, and more.

Build a Network

Many colleges have a strong and extensive alumni network that students can tap into post-graduation while they look for a job. While you are attending school, you’ll also build soft skills like time management, organization, and interpersonal communication that can be invaluable in the professional world.

Cons of a University

Cost

One of the biggest downsides to college is the cost. According to the College Board, the average cost of tuition and fees at private four-year institutions was $43,350 during the 2024-2025 school year. Add in costs for room and board and other living expenses, and it can be easy to see why some students may be dissuaded from pursuing a four-year degree.

Recommended: What Is the Average Cost of College Tuition?

Social Distractions

With all of the hustle and bustle at a college, it can be challenging to balance work, well-being, and fun. With parties, extracurriculars, sports, and more, it can be easy for students to get distracted from their studies.

Can You Combine Community College and University?

Yes, it’s very possible to attend a two-year community college and then transfer to a four-year college to complete your bachelor’s degree. Many community colleges have articulation agreements in place with local state schools that can make it easier to transfer credits.

Check in with your academic advisor as you complete community college classes to be sure they will transfer to the college of your choice.

Recommended: Should You Choose a College Based on Price?

Figuring Out What’s Right for You

As you’re crafting your own pros and cons list, here are some questions to ask yourself before making your decision.

•   Do I want to live at home or on campus? If you’re hoping to be close to family or need to stay in town for a job, finding a community college campus nearby could be the right call.

•   Do I want to join clubs and organizations? While community colleges offer some activities, universities typically provide more for students to partake in.

•   Do I have enough money to go to a big school? Whether a major state school or a private college or university, student loan debt could follow you for a long time after you graduate.

•   Where is my support system? Not having friends and loved ones around may make school more difficult for some. If your support system is vital to you, and you can’t find a big school near your close family, opting for a community college might be better.

•   Is this the best option for my major? Determining what you want to pursue as a major is a big deal. If you aren’t certain about what you want to do, you might not want to move far away quite yet. Or alternately, maybe getting some distance from your close friends and family will help you find your direction.

The Takeaway

Community colleges can offer a more affordable path to a four-year degree. Universities can offer a rich on-campus experience and a strong long-term earning potential. Depending on your personal situation, either or both could be a good fit.

Once you decide where you want to go, you’ll need to figure out how to pay for college. Typically, students rely on a few different funding sources to fund their education, including scholarships, grants, work-study, and student loans.

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

FAQ

Is community college easier academically than university?

Community colleges often have qualified professors and courses that are comparable to those offered at a four-year institution. The course selection and degree programs available at a community college, though, may be more limited than at a university.

Is getting a degree from a community college worth it?

Getting a degree from a community college can be worth it. In addition to securing an associate’s degree, you may be able to transfer to a four-year institution to continue your education to get a Bachelor’s degree. Doing this can be less expensive than pursuing a Bachelor’s degree exclusively at a four-year institution.

Is going to community college a good way to cut down on the cost of a 4 year college degree?

The cost of classes at a community college is typically significantly cheaper than the cost at a four-year institution. Starting out at a community college and transferring to complete your degree can significantly cut the cost of tuition. Plus, community college students may have the option to live at home which can reduce room and board expenses.

Photo credit: iStock/simonkr

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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

SOISL-Q424-058

Workplaces typically pay employees just twice a month. But sometimes, you want to get your hands on cash more quickly. Fortunately, it’s possible to find jobs that pay daily, from babysitting to blogging to mowing lawns.

Some of these are true jobs that pay every day, while others are freelance gigs (commonly referred to as side hustles) that may pay invoices as you submit them. If you manage enough side hustles or have enough clients for a single side gig, you can stagger invoices so that payments are coming in every day — or at least multiple times a week.

Here, take a closer look at these gigs that can pay daily to keep cash flowing your way.

20 Daily Paying Jobs

Are you looking for a daily flow of cash into your checking account? Here are 20 jobs that pay daily:

1. Waiting on Tables

Servers are tipped employees who earn a reduced minimum wage. When you work this way, you may still earn a regular paycheck with your hourly wage and any tips paid by debit or credit card. However, you are often able to pocket cash tips at the end of each shift. Other tipped workers, like hairdressers, manicurists, and bellhops, may also bring home money every day.

Typical Pay: Currently $15.80 per hour

2. Collecting and Recycling Metal

If you have a truck or van, you can spend the day collecting scrap metal from construction sites, local businesses, and dump sites. You might be able to use resources like Craigslist or even social media to find scrap metal ready to be picked up.

Once you’ve gathered enough scrap metal, you can take it to a local recycler, who will typically pay you by the pound for quality materials.

Another angle on this is collecting recyclable bottles and cans and exchanging them for cash. This may be as simple as taking them to your local supermarket.

Typical Pay: Currently $21 per hour

3. Babysitting

As a babysitter, you can set your own rates and hours and typically get paid at the end of a shift. You don’t need any special equipment, which can make it a good low-cost side hustle for many people.

While word of mouth is still a good strategy for finding clients, many people now use find babysitters digitally, like through Care.com, UrbanSitter, and Bambino; it’s a good idea to get vetted and have a profile on such platforms.

Bonus points if you are CPR- and first aid certified!

Typical Pay: Currently $23.61 per hour (though neighborhood, word-of-mouth jobs may be less)

4. Pet Sitting

Pet parents need a break too. Whether through word of mouth or through apps like Rover, you can find people who need help with their pets while on vacation or even just during their days in the office.

In addition to pet sitting, you may be able to find clients who just want someone to walk their dogs during the day. With good word of mouth and some marketing, you may achieve an array of jobs that pay everyday.

Typical Pay: Currently $15-25 per hour, with overnights ranging from $45 to $75

5. Selling Your Photos

If you like to take photos, whether while traveling or just of everyday life, you might be able to make money from them. Uploading photos to a stock photography site means you’ll make money every time a person pays to use your photo.

If you’re a skilled photographer with professional equipment, you can make money on the side by taking family portraits or even photographing weddings.

Typical Pay: This varies from selling a photo print for a few dollars online to making $700 from a stock house for an image. The average wedding photographer makes $48 per hour.

6. Reselling

Another way to potentially be paid every day is by getting into reselling on sites like Amazon and eBay. But what is a reseller? As a reseller, you will buy products (ideally greatly discounted and in bulk), then list them for sale at a higher price online.

Becoming a successful reseller can require patience, hard work, and a lot of time at the post office. But once you have a process nailed down, it can be an easy way to get paid regularly.

Typical Pay: Currently $33 per hour

7. Crafting

Opening a shop on Etsy is a great way for hobbyists to make supplemental income from their crafts. Here, artisans can showcase and sell their work, from custom jewelry to knitted blankets to hand–carved signs. If your items are popular enough — and you can keep up with demand — it’s possible to make sales every day.

Typical Pay: This varies widely depending on how time-consuming a craft is and how much it sells for, but one current estimate is $25 per hour

8. Renting Out Your Space

Have an extra bedroom in a location that tourists often visit? You might be able to list your space on Airbnb and VRBO. If you can attract guests every night, you could potentially get a payout every day.

Typical Pay: Your earnings will vary depending on location, specifics of the space you are renting out, and how much demand your area experiences.

9. Mowing Lawns

Offering to mow multiple neighbors’ lawns each week — and then staggering when you mow them — is a simple way to get paid every day of the week. While this can be an easy evening side gig after a full-time job, it also has the makings of a full-time hustle itself. If you have the right equipment and transportation, plus enough clients, you could launch your own lawn mowing company.

Typical Pay: Currently $18.94 per hour

10. Driving a Rideshare

If you’re a safe driver with a decent car, you might have a future as a rideshare driver. While Lyft typically pays out each week (on Tuesdays), Uber allows drivers to opt in to Instant Pay — with up to six payments a day!

Typical Pay: Currently $18-20 per hour

11. Delivering Food

If you’d rather drive food than people, you’re in luck. Delivery drivers for services like Uber Eats and DoorDash can all opt in to instant payouts. Getting paid instantly (as opposed to the services’ traditional payment timelines) may come with a fee, however. That can mean less cash to put in your checking or savings account.

Typical Pay: $17.06 per hour

12. Shop for Others

Being a shopper for, say, Instacart means heading to a supermarket, drugstore, or other retailer and shopping for a customer and then delivering the goods. If you have the time free to do this and like to keep busy, it can be a good way to bring in some extra cash when you have the hours free to fill.

Typical Pay: Currently $13.62 per hour

Recommended: Careers That Pay Off Student Loans

13. Doing Online Surveys

You can make money while sitting on the couch listening to music, simply by taking surveys. Popular paying survey sites include Swagbucks, InboxDollars, and LifePoints. Each survey may take several days to pay out, and you’re likely to just earn a few dollars a day. Still, every bit counts, and you can eventually get deposits each day by making surveys a daily habit.

Typical Pay: Surveys can pay 50 cents to $5 each. Pay will depend on how many you qualify for and complete and the pay rate.

14. Participating in a Focus Group

Online surveys are an easy way to make money from home, but their payouts are low. You might be able to make more by participating in focus groups. Studies usually pay $50 to $200, but some might pay more than $1,000.

Typical Pay: The amount you can earn will depend on which focus groups you can find and qualify for and how much they pay.

15. Being a Virtual Assistant

As a virtual assistant, you support businesses, typically working remotely rather than on-premises. You can work for multiple companies that need help with basic tasks, like scheduling, data entry, travel arrangement, and bookkeeping. Some companies may have more specific tasks, like managing their social media. The more skills you can offer, the more likely you are to land clients.

Sites like Indeed, LinkedIn, and Upwork are helpful for landing virtual assistant jobs. It’s a good idea to have an up-to-date LinkedIn profile and resume showcasing relevant experience.

Typical Pay: Currently $24.96 per hour

16. Tutoring

Teaching online or in person is an easy way to earn money every day if you have deep knowledge on a topic and a knack for making things clear to others. Students may be looking for tutors for standardized tests or learning a musical instrument. Sometimes parents might just want a tutor to help a child improve in a certain school subject.

If you have a background in multiple subjects and a website or profile showcasing relevant certifications, you could potentially get enough students to earn money each day.

Typical Pay: Currently $20 per hour on average, but some topics can pay significantly higher such as $75 per hour for Mandarin or chemistry

17. Proofreading and Copy Editing

Having eagle eyes (and a degree in English) can qualify you to be a proofreader. Brushing up with well-known reference resources, like the Chicago Manual of Style or the Associated Press Stylebook, can help hone your skills.

You can find individual job postings online for one-off projects (like proofreading a novel) or recurring work with clients. Indeed, Fiverr, FlexJobs, and Upwork are good places to start. If you can get a few projects going, you may be able to get jobs that pay every day.

Typical Pay: Currently $25-30 per hour

18. Creating Content

If you are a strong writer, you might be able to find work as a freelance writer for news sites, blogs, or marketing clients. Having a portfolio that showcases existing work is usually the best way to get your foot in the door. Freelance writers are usually paid per word or per piece.

Another route to getting paid every day with your content: You can create your own personal blog and run ads on the site. You’ll earn money for pageviews, so getting traffic to your website is crucial. But don’t forget: There are also costs to run a blog.

Creating content means more than writing; it also means videos and podcasts. Many people make money off ads on their YouTube videos. And if you have enough followers on sites like Instagram or TikTok, brands may pay you to advertise their products.

Typical Pay: Currently $15-$25 per hour for an entry-level gig; you may be able to command more as your expertise and reach grow

Recommended: 39 Ways to Make Passive Income

19. Affiliate Marketing

Ads on your blog are a great way to make money off your writing, but you can also add in affiliate links to certain products that you review and recommend. If someone clicks on the link for a product you’re talking about and then buys that product, you can earn a commission.

Podcasters, vloggers, and social media influencers can also participate in affiliate marketing, often by giving fans a promo code. If you get traction with this, you could be getting paid daily.

Typical Pay: Currently $23 per hour

20. Transcribing

Transcription jobs are an easy way to make money from home. If you have enough clients, you might be able to have money flowing in every day. Companies such as GoTranscript and Rev are helpful when you’re just starting out.

Typical Pay: Currently $21 per hour

Benefits of Being Paid Daily

Having a daily stream of income isn’t always easy. Here are some ways to achieve your goal of getting paid everyday:

•   Flexibility: Many of the daily paying jobs on this list allow you to make your own schedule. You can work longer hours if you want, but you also don’t have to worry about getting approved to take time off to go to the doctor or embark on a low-cost road trip with friends.

•   Faster Payment: Some of the jobs that pay everyday listed are gigs that pay daily, meaning when you kick off your shoes at the end of the day, you’ll have more money in your wallet or checking account than when you started. Some of the other jobs involve invoicing when the work is done. If you have enough invoices being paid out from different clients for different work, you should have a steady stream of income flowing into your bank account regularly.

•   Work Remotely: A lot of the daily paying jobs on this list allow you to work right from the comfort of your couch or a nearby cafe. Getting paid while wearing sweatpants and having your dog by your side can be a pretty sweet gig. It can also cut out transportation costs and make household chores like cooking and cleaning easier to manage.

Tips for Finding Jobs That Pay Daily

Having a daily stream of income isn’t always easy. Here are some ways to achieve your goal of getting paid everyday:

•   Know where to look: Beyond the obvious options (DoorDash, Uber) and the companies mentioned above, you can also find side hustles that pay daily on job boards. Search for such keywords as “daily pay” and “dailypay jobs” on such platforms as Ziprecruiter, SimplyHired, Glassdoor, and Veryable (an app), and others.

•   Take on multiple gigs: Wearing many hats means more opportunity for earning income. You might be a rideshare driver on weekends, take online surveys while binge watching Netflix in the evenings, transcribe during the workday, and write ad-supported blogs in your free time.

•   Stay organized: If you have multiple purchase orders, invoices, and clients to juggle, it’s a good idea to find an organizational method that works for you. Planners, spreadsheets, dry-erase boards, and sticky notes can all be effective ways to keep organized.

   Also consider opening separate accounts (perhaps multiple online bank accounts) if you want to keep your income streams separate.

   That could also help you if you are trying to figure out your tax deductions as a freelancer and need to keep various gigs distinct.

•   Persevere: You likely won’t immediately achieve a daily paycheck when starting your freelance lifestyle. Often, success means taking on whatever work you can, being proactive to find new gigs, and being willing to accept that you might not always get a paycheck at the end of each day — at least not at first!

Recommended: How to Make Quick Cash

The Takeaway

If you’re looking to get paid quickly, you have many options. Jobs that pay daily are often side hustles or freelance gigs by nature. If you are willing to wear many hats and learn new skills, you may find great success working several jobs that pay you daily. Options range from driving a rideshare to mowing lawns to creating content.

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

FAQ

Is it better to be paid daily or biweekly?

Being paid daily means more immediate access to your funds, but it can sometimes be less predictable and involve smaller amounts of cash. If you prefer more predictable income for easier budgeting, you might prefer a biweekly paycheck.

Are daily paying jobs full-time?

Most daily paying jobs are a form of freelance work or a side hustle. However, many people are able to turn their freelance side gigs into full-time careers — for example as writers, photographers, marketers, and contractors.

Can I work multiple jobs that pay daily?

Many people with jobs that pay daily work multiple gigs. Because some jobs may not actually pay every day, some workers will juggle multiple side hustles (like rideshare driving and tutoring) to ensure a steady flow of funds.

Photo credit: iStock/SDI Productions

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

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

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

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

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

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

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

This content is provided for informational and educational purposes only and should not be construed as financial advice.

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.

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.

SOBNK-Q424-087

Switching banks doesn’t have to be a difficult process, and it can benefit your financial health. For instance, one reason you might make a change is to earn a more favorable interest rate or pay lower (or no fees). Or you might get a sign-up bonus at a new financial institution. There might be other reasons to switch banks, such as finding one with branches or ATMs that are more convenient to your daily life or one that offers other financial services you are seeking.

While changing banks isn’t usually an instantaneous process, here are the simple steps to follow to make the switch as quickly and easily as possible.

How to Switch Banks in 6 Steps

If you think changing banks is the right path for you, here are the six steps that can make it happen.

Step 1. Research and Find a New Bank

Identify the key benefits you want but currently don’t have and do an online search to compare options. Here are some points to consider as you evaluate options:

•   Interest rates earned on money on deposit. For instance, you might want to look for a high-yield savings account to help your money grow. These can offer several times the interest rate of standard savings accounts. Also, some checking accounts may pay interest, though most do not.

•   Minimum deposit and balance requirements. Certain accounts require you to open the account with a particular sum of money and/or keep an amount on deposit to earn a specific interest rate and/or avoid fees.

•   Fees assessed for accounts. There can be various fees that can eat away at your money, such as monthly maintenance fees, overdraft and NSF (non-sufficient funds) fees, out-of-network-fees, and more.

•   Convenience. If you want a traditional vs. online bank, make sure the branches are near your home and work. Also, if you use ATMs often, check to make sure in-network machines are easily accessible. If you travel frequently, look at the reach of the financial institution’s network.

•   Customer service. Read reputable online reviews and check availability (24/7? Only on weekdays?) for customer support.

•   If you are planning to buy a home soon, you might want to bank with an institution that also offers mortgages to streamline that process. Or you might prefer a bank where you can access personal financial and investing services. Consider your needs carefully.

Step 2: Open a New Account

Found a new home for your cash? Go and open that checking account to get started. You can typically fill out the information needed online, in the bank’s app, or (with traditional banks) in person. Here’s what you will usually need:

•   Valid ID. This typically means government-issued photo identification, such as your state driver’s license or a passport. Other forms of ID may be accepted. When opening an account online, you may be asked for such details as your name, Social Security number, and birthdate, with an image of your ID needing to be uploaded on the spot or in the future. (Worth noting: You usually must be at least age 18 to open your own bank account.)

•   Contact information. This means your address, phone number, and email address will likely need to be provided.

•   An opening deposit. Some banks will allow you to open an account with no money at first (say, you might sign up to have your paychecks direct-deposited going forward) or others will require you to make a deposit of anywhere from $1, $25, $100, or more to start your bank account. If you are signing up for a premium checking account or high-yield account, there may be higher minimums involved.

Now that you know what’s needed to open a bank account, don’t overlook this important point: Don’t whisk every last cent out of your old account into the new account, though you may be tempted to do so to feel as if you are making progress. You may have pending transactions and autopays coming up that will take time to sort out.

Recommended: Interest APY Calculator

Step 3: Make a List of Automatic Payments and Direct Deposits

Here’s a closer look at those pending money movements. If you’re like most of us, you rely on autopay to simplify your banking; the pros of automatic payments are hard to ignore. This means that each month your various bills and subscriptions are seamlessly deducted from your primary account on their due date.

To avoid falling behind on bills or accidentally getting your streaming service suspended, you need to turn off or redirect every automatic payment that currently comes out of the account you wish to close. As you plan to make the switch, here are items you should keep track of:

•   Automatic payments: Take a careful look at which payments are made automatically from your bank account, such as mortgage, utilities, student loans, and more.

•   Recurring payments: Consider what subscription payments you have automatically coming out of your checking account, such as yoga studio memberships or streaming services

•   Recurring outgoing transfers: Look for payments that move to external accounts, such as funds being funneled into a retirement account or a health savings account.

•   Automatic deposits: This might include the direct deposit of paychecks, alimony, Social Security benefits, a tax refund, and other sources of income (such as payouts via P2P transfers, such as PayPal or Venmo for a side hustle).

Take a look at your monthly account statement and make a list of every automatic deduction. Also scan for those irregular automatic deductions (perhaps a quarterly insurance premium payment?). Once you’ve made your list, log in to each of your service provider accounts and change your payment information.

Step 4: Transfer Funds and Update Automatic Payments

You may have already made an opening deposit to your new account, but if not, now it’s time to transfer some funds from your old one to the new one.

It’s often possible to do this online; check with both banks involved to find the best way to transfer the funds. (Keep in mind, you’ll need to leave a bit of cash in your soon-to-be former account, to cover any pending transactions and miscellaneous charges or fees.)

You’ll also want to update any automatic payments you typically receive. This can involve contacting your job’s HR team about changing your direct deposit details or contacting Social Security about how to redirect your benefits.

Recommended: 7 Tips for Managing Your Money Better

Step 5: Monitor Pending Transactions

After you’ve canceled or rerouted all the automatic payments that deduct from the account you want to close, you will need to wait for any pending transactions to clear. These pending transactions are usually for bills or subscriptions that have one remaining payment left before the company can change your payment information. Or it could require an extra pay cycle for your salary to go into your account by direct deposit.

Waiting for all pending transactions to clear ensures that your bills will be paid and your subscriptions will continue without facing any overdraft fees. Make sure there is enough money in the account you wish to close to cover any pending payments. Wait two weeks to one month for any automatic payments to be deducted. Otherwise, you risk incurring fees for overdrafting.

Step 6: Close Your Old Bank Account

Once you have transferred all automatic payments and possible deposits and waited a cycle for those to update, you’re done. It’s time to close your old account.

•   Depending on where it’s held, you may be able to finalize this online or by phone. In other cases (usually at smaller local banks or credit unions), you may have to send a written request or turn up in person.

•   Be sure to transfer out any remaining funds or get a check for the amount left in the account.

•   Whether you close your account online or in person, make sure to request written confirmation that the account has been closed, says the Consumer Financial Protection Bureau. This is a safety-net move to protect you if some issue were to arise. When you receive the letter confirming your bank account is closed, make sure to save it somewhere safe for future reference.

You’re done! You’ve completed the process and switched banks.

Challenges and Considerations When Switching Banks

There are many good reasons to switch banks, but there are times when changing banks may not be worthwhile. So before diving in, think about the following:

•   If you are switching banks to get a sign-up bonus or short-lived perk, is it worth the trouble? Make sure that the amount of money you will gain is worth the effort, and that you won’t be hit with fees that negate the extra money you bring in. (You might look at what online banks offer; they often have lower or no fees.)

•   Check if the new account will require a hard credit inquiry to gain approval. Typically, financial institutions only do a soft pull, but if you are focused on maintaining or building your credit score, you should make sure.

•   Take extra care in tracking your automatic payments and deposits. It’s not uncommon to have more of these electronic financial transactions than you expect, and some can be infrequent or irregular, such as annual payment of a subscription or insurance premium. Forgetting to redirect payments or direct deposits can create a hassle down the road.

The Takeaway

As the personal banking market becomes ever more competitive, you may find yourself thinking about changing banks for the sake of better services, greater convenience, lower fees, higher interest rates, or other features. If you do find a new home for your money, it takes just six steps to make the switch. Yes, it’s a bit of effort, but the payoff can be well worth it.

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

FAQ

Are there downsides to switching banks?

If you’re wondering about cons or how hard it is to switch banks, know that changing banks requires just a bit of effort and patience. You will need to complete some forms and move any automatic payments or deposits to your new account, as well as wait a cycle while these update. But changing financial institutions should not involve a charge or impact your credit score.

Is it difficult to switch banks?

To switch banks, you’ll need to identify a new financial institution and fund your new account. Then, you will need to transfer automatic payments, deposits (say, via direct deposit or PayPal), and wait for them to update. Once that happens, you are ready to transfer any remaining funds and officially close your old account.

What is the easiest way to switch banks?

The easiest way to switch banks can be to identify a new financial institution, complete your application, monitor and redirect automatic deposits and payments, wait a billing cycle, and then transfer any remaining funds and close your old account.

How long does it take to switch banks?

While it can take just a few minutes to open a new bank account, it usually is wise to wait a full billing cycle or two so that automatic payments and deposits can be transferred to your new account. Once that happens, you can feel confident in closing your old account.

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

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

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

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

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

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

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

This content is provided for informational and educational purposes only and should not be construed as financial advice.

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.

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

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 .

SOBNK-Q424-102

Student eligibility for financial aid does not carry over from year to year. If your financial situation changes — or your academic progress and course load take a dip — you could receive less financial aid or even lose eligibility entirely.

If your aid package is less than the year before, you might be wondering, can I get financial aid back after losing it? Students do have some options to get financial aid back, but it’s important to understand why you lost it in the first place.

Here’s a look at some possible reasons for losing financial aid, tips for working to restore it, and alternative options to help pay for college.

Why You Might Lose Your Financial Aid

How do you lose financial aid? There are several factors that could impact how much you get.

•  Rise in income: Financial aid eligibility is calculated for students each year based on information provided on the Free Application for Federal Student Assistance (FAFSA). An increase in your parents’ earnings — or your own earnings if you have a job — could bump up the amount you or your family are expected to contribute toward your education. That, in turn, reduces the financial aid you qualify for.

•  Falling grades: Your grades can affect your financial aid as well. While it may vary from school to school, students typically need to have a cumulative GPA of at least 2.0 and pass enough classes to complete a four-year bachelor’s degree program in six years.

;  Students who fail to maintain satisfactory academic progress are placed on financial aid suspension, meaning they are not eligible for federal financial aid.

•  Number of credits taken: The number of credits you take can also impact the amount of financial aid you receive. Students usually need to be enrolled in school at least half-time — taking six to 11 credits — to be considered eligible for federal financial aid. However, part-time students may have their financial aid prorated based on the number of course credits they are taking. In other cases, full-time enrollment (12 credits or more) may be required by schools for certain forms of financial aid.

•  Misconduct: Disciplinary action from violating a school’s code of conduct or academic misconduct such as cheating may result in losing financial aid, especially institutional scholarships and grants.

•  Student loan default: Finally, if you’re returning to school to pursue another degree, you could lose financial aid eligibility if you’ve defaulted on student loans. A federal student loan goes into default when you’ve failed to make payments on it for 270 days.

How to Get Your Financial Aid Back

When you’ve lost financial aid, there’s no guarantee that you’ll be successful in getting it back, but there are some strategies that may help.

•  Reach out to the financial aid office. If you’re not sure why your financial aid has been lost or reduced, contact your school’s financial aid office to find out what happened and what you can do.

•  Get your grades up. If you lost financial aid for not making satisfactory academic progress, improving your grades in the coming semester may help you regain your eligibility. However, this will likely require paying for school with other means for the time being.

•  Start an appeal. Appealing a financial aid suspension with your school could be an option if your academic performance was impacted by extenuating circumstances, such as illness or a death in the family. The appeals process typically requires filling out a form and writing an appeal letter to the college explaining the situation that led to financial aid suspension.

•  Deal with defaulted loans. Students who are in default on their federal student loans have a couple options to get out of default. You could apply to consolidate your defaulted federal student loan into a new Direct Consolidation Loan. Because the balance on student loans is due in full when you enter default, consolidation can pay off the balance quickly.

  Just be aware that a Direct Consolidation Loan adds accrued interest to the new loan principal and typically carries a higher interest rate than student loan refinancing.

  Loan rehabilitation is another option to consider if you’re in default. You’ll need to contact your lender to request a loan rehabilitation plan, which typically involves making nine monthly payments on time. The monthly payments are usually lower than your original payment rate, but keep in mind that rehabilitation is a one-time opportunity.

Recommended: Student Loan Refinancing Guide

How to Pay for College Without Financial Aid

Losing financial aid can make it challenging to attend college, but there are several alternatives to help get funding to pay for your education. Consider these options:

Scholarships and Grants

Scholarships and grants are gift aid that students typically don’t need to repay.

There are many scholarship opportunities available to students, and they each have their own eligibility requirements and application process. Scholarship eligibility can involve academic merit or financial need, or they may focus on your chosen major or participation in extracurricular activities.

Federal grants may no longer be an option if you’re on financial aid suspension. However, you could still be eligible for grants from your college, state government, nonprofit organizations, and private entities. Grants are often awarded based on financial need.

To help narrow your search, you can use a scholarship search tool to find grant and scholarship opportunities that align with your background and field of study.

Student Loans

If you lost financial aid due to a change in income, you could still qualify for federal student loans. Federal Direct Unsubsidized Student Loans, for instance, do not require borrowers to demonstrate financial need, and they’re available for undergraduate and graduate students. Bear in mind that these loans accrue interest while students are in school and there are limits on how much you can borrow.

If your financial aid was suspended for other reasons, you might consider taking out private student loans to pay for education expenses not covered by scholarships and grants. The amount you can borrow varies by lender, but you can often get up to your school’s total cost of attendance.

Unlike federal student loans, private student loans require a credit check, meaning you may need someone to cosign the loan. It’s important to compare different lenders, interest rates, and terms before deciding to apply for a private student loan.

Keep in mind that you have the option to refinance student loans to save money in the future. When you refinance, you replace your old loans with a new loan, ideally one with a lower interest rate and more favorable terms. Note that refinancing federal student loans makes them ineligible for federal benefits like income-driven repayment plans.

A student loan refinance calculator can help you see what you might save with refinancing.

Part- or Full-time Work

Many students work while going to college to help pay for school and living expenses. Consider how much time you can dedicate to a job while managing your course load to choose the best work situation.

If part-time employment makes the most sense for you, on-campus jobs are one option to consider to help pay for education expenses. If you can land a position in your field of study, a job at your school could help build skills and enhance your resume.

The Takeaway

If you lose financial aid, you may be able to get it back, though there is no guarantee.

Contact your school’s financial aid office to find out why you lost your aid and what you can do to get back on track. Students can try appealing a financial aid suspension with the school if there were extenuating circumstances for not maintaining satisfactory academic progress. You can also work to improve your grades in the coming semester to regain financial aid eligibility.

And remember, there are other options to pay for college without financial aid, including scholarships, grants, student loans, and working while going to school. If you do take out student loans, you might consider student loan refinancing once you graduate to help reduce your payments.

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

Photo credit: iStock/FG Trade Latin
SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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