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College is a time for students to learn and grow, both academically and in their personal development. As a parent, you want what’s best for your child, and that includes helping them pick the right college. But finding the right school for your child may require some time and research, and you’ll likely want to make sure you leave the final decision up to your child.

As you consider various factors, it’s important to zero in on the ones that matter the most for your student.

How to Find the Right College for Your Child

Depending on how much time you have to invest in the process, here are some tips that can help you and your child pick the right college for them.

1. Make a List

Start by creating a broad list of colleges for which you and your child might be a good fit. Consider both local and out-of-state colleges, and don’t be afraid to let your student dream big.

Every student is different, so it’s worth curating a diverse list of options to consider. Typically, various rules of thumb suggest students apply to a mix of “target,” “reach,” and “safety” schools. This could be a good way to organize your child’s initial list of schools.

As you work through the other steps in the process and learn more about each school, you can refine the list.

2. Talk About What They Want to Study

Your high schooler may not yet know what they want to be when they grow up, but they may already have an idea of what direction they want to go. It may be worth having an initial conversation with your child about choosing a major.

Once you have an idea of what they’re interested in, you can look at the colleges on your child’s list that excel in those areas of study. If there aren’t many, you could always consider adding more.

Recommended: The Most Rewarding Job in America

3. Consider the Cost

A college education can get expensive, and some universities charge much more than others. If your child already has an idea of which schools they want to apply for or have already received their admissions letters, a key step is to dig into the cost of attendance for each school.

This step is important regardless of whether you’re planning to help your child cover the cost of their education. Finding a college with good value can reduce how much your student may need to borrow in student loans during their stay.

The cost of attendance isn’t the only important cost factor, however. If your child has already received an admission letter, consider whether there’s a financial aid package included, including grants and scholarships. If there is, calculate the total amount you or your child would have to pay after applying that financial aid to get the net price.

4. Talk About Location

Discuss with your child about whether they would prefer a college close to home or far away. Each person is different in this regard, and your teen’s desires on the matter are important.

That said, sending a child off to college, especially out-of-state, can be a stressful experience for parents. It’s normal to feel anxious about this milestone in your child’s life, but avoid allowing your anxiety to dictate your role in the process.

5. Learn About the Environment

Finding the right college for your child isn’t just about the school itself; it’s also about the environment the school provides. This is where it can be worth making a trip to visit college campuses with your child to get a feel of the place — or at least to take virtual tours.

It may also be worthwhile to look into some of the extracurricular activities the schools provide. If your child is athletic, for instance, ask about intramural sports. If they want to study abroad, look into the quality of each school’s international programs.

Another factor to consider that can affect your child’s experience is classroom size. If you think your child may need more attention, a school where every class is in an auditorium with hundreds of other students may not be the right one.

6. Give Your Child Time

Picking a college may be easy for some students, but it can take time for others. If your teen is having a hard time, it can be a fine line between supporting them and annoying them. Finding the right balance can be tricky.

As a happy medium, consider choosing a night each week to discuss college plans with your teen. Ask about their thought process and offer help if they’re feeling stuck.

It can be frustrating to sit back and watch your child struggle, but allowing them to make the decision for themselves can help them develop the independence they’ll need in the coming months and years.

7. Be Supportive

No matter what your child decides, they need your support more than anything else. Remember that you’re finding the right college for your child, not for you.

And keep in mind that your child may choose to transfer at some point in the future if they decide the school is no longer a good fit.

Regardless of what happens, your support can give them the confidence they need to make their college experience a good one.

Financing Your Child’s College

Once your child has picked a college, talk about how they’re going to finance their education. If you’ve managed to set money aside in a 529 Plan or can help with your current income and savings, discuss the numbers and whether your teen will need to pick up some of the slack.

Also, talk about student loans and how to use them wisely, as well as how to reduce how much they’ll need to borrow. Ideas include applying for scholarships and grants, working part-time, and borrowing only what they need.

Recommended: Scholarship Search Tool

Other options to look into include federal Parent PLUS Loans, private parent student loans, or private undergraduate student loans to help fund their education. If all federal aid options have been exhausted, SoFi offers no-fee private student loans to help parents and students pay for school.

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

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

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

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American students and their parents continue to take out student loans to pay for their undergraduate and graduate degrees.

People who are attending college are paying for tuition, room and board, books, and other necessities by taking out student loans or using credit cards.

Paying for college has become more expensive as tuition costs have continued to rise each year. For the 2022-2023 academic year, the tuition for full-time in-state students attending public colleges and universities was $10,950, according to the College Board. Tuition at private colleges and universities for the 2022-2023 academic year was $39,400.

The average federal student loan debt per person in 2023 is $37,338. Private student loan debt is almost $55,000 per borrower.

Americans now owe over $1.6 trillion in student loans. More than 43 million people, both graduates and their parents, have amassed a large amount of debt to pay for higher education.

Paying Down Student Debt Faster

Borrowers can maximize their financial resources and accelerate their repayment schedule in a few different ways.

Some options might include making extra payments by creating a budget, cutting expenses, getting a part-time gig, paying down other debt, and refinancing student loans.

Budgeting Effectively

Creating a budget can help borrowers see and understand all their expenses. A budget could make someone more aware of how much they are spending on eating out or entertainment each month.

Being able to refer to a budget can come in handy when you’re paying bills each month. There are plenty of options to choose from when it comes to budgeting and tracking spending.

After you have created a budget, examine your monthly expenses. One way to do this is to look at your expenses by different categories, such as bills, daily expenses such as parking, necessities such as groceries, and non-essential items such as entertainment.

Going through each category can help a consumer decide what is a priority. It can also help remind you of expenses you’re paying each month, but not using often such as a streaming movie or TV service.

Consider negotiating with the service provider, such as an internet or cable company, to see if there are less expensive options or if they are offering special deals currently.

Making Extra Payments

Making extra payments whenever borrowers can afford can help speed up the repayment process.

Neither federal or private student loans have prepayment penalties, which means borrowers won’t be penalized for making extra payments or paying their loan off ahead of schedule.

When making over payments, check in with the loan servicer to confirm how it will be applied to the loan or loans. For example, a borrower with multiple loans may choose to spread the extra payments evenly among each loan. Others may choose to concentrate on the loan with the highest balance or the highest interest rate.

Another note, lenders may first apply overpayments to the interest accrued on the loan. Borrowers may have to request the extra payment be applied to the principal balance of the loan. The important thing is to be sure you understand exactly where the payment is going.

Focusing on High Interest Debt

When it comes to students and debt, sometimes it’s more than just student loans. Paying down other debt, such as credit cards with higher interest rates or personal loans, can also lower your overall debt.

While some people prefer to pay off their debt with the lowest balance, other people prefer to start tackling the one with the highest interest rate.

Here are some ideas that could help someone pay off their credit cards or personal loans sooner.

•   Making more than the minimum payment. Even an extra $25 or $50 a month adds up.

•   Contacting the credit card company and asking for a lower interest rate.

•   Using automatic payments to avoid missing a payment and incurring a late fee.

•   Stopping using the credit card for additional purchases.

•   Obtaining another credit card with a lower interest rate and transferring all or a portion of the balance.

Some lenders may charge a prepayment penalty for some types of loans or credit, so double check the terms to be sure.

Getting a Second Job or Side Hustle

One way to help pay down student loans faster is to obtain a second part-time job. The additional income from the second job could go towards extra payments on the loan.

Finding a second job could be accomplished by asking your friends or co-workers for referrals. They might know of a small business or person who needs a helping hand or temporary work on a short-term project.

Depending on the gig, some of the work could be completed online or during weekends.

Checking job boards, social media, and with your current network could net you some temporary gigs such as babysitting, pet sitting dogs or cats, or running errands for a professional.

Another strategy is to sell any unused items that are sitting around in your home. Cleaning out your closet or garage could help people come up with some extra income that can be used to make an extra payment or two.

Selling musical instruments, electronics, clothing, or shoes online or at a resale shop is one way to sell the items quickly. Social media is another way to sell your unwanted guitar or electronic tablet that is just collecting dust.

Recommended: 23 Ways to Make Extra Income From Home

Making Lump Sum Payments

Sometimes, making consistent extra payments on a loan isn’t an option. In that case, consider making a lump sum payment whenever you get a larger amount of money from a tax refund, birthday gift, or bonus at work.

Apply all or a portion of the extra money to a payment. Making extra payments applied to the principal can help reduce the amount of interest paid in the long term.

Refinancing Student Loans

Making changes to your budget, slashing your expenses, and getting another gig could help you pay down your student loans faster. Focus on the improvements you have made and create both short-term and longer term financial goals. Refinancing is another option that could potentially help a borrower speed up their repayment.

Student loan refinancing could help qualified borrowers secure a lower interest rate, which also means that more of the money paid each month will go towards the amount that was originally borrowed — the principal value.

This could help students and their parents finish paying off their student loans sooner. A lower interest rate could also reduce the amount of money spent in interest over the life of the loan.

Refinancing can also help make monthly payments more affordable, which could be helpful to people with a tight budget.

However, getting a lower monthly payment when refinancing could be a result of extending the repayment term, which would ultimately mean the loan costs more in the long run.

Refinancing also allows borrowers with multiple loans to combine them into a single loan. This can help streamline the repayment process, since the borrower will be repaying a single loan with a single lender, instead of making multiple payments each month, sometimes to different lenders.

A student loan refinancing calculator can help give you an idea of the amount of your new monthly payments. Any extra money saved each month could be used to pay for other debt such as credit cards or towards your savings for an emergency, a down payment for a car or house, or other goals such as a vacation.

SoFi gives people the option to refinance both federal and private loans. Before you refinance your federal student loans, consider whether keeping the repayment benefits that they offer, such as forgiveness programs or income-driven repayment plans, could be useful to you in the future. When you refinance with a private lender like SoFi, those benefits are no longer available.

The application process at SoFi can be completed easily online and there are absolutely no hidden fees.

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.

The question of whether it’s worthwhile to obtain a Master’s in Business Administration—an advanced and versatile degree that can help people ascend into management analysis and/or strategy roles—is a highly personal one without a real single objective answer. As usual with financial and personal decisions, the answer tends to be “it depends.”

The last decade has seen the MBA go from becoming the most popular master’s degree in the U.S. to “being in crisis,” with overall applications declining. The COVID-19 pandemic resulted in many schools expanding their policies and modalities for distance learning, so it’s still anyone’s guess what impact that will have on the MBA’s popularity and employer demand. Either way, it’s never a bad idea to consider betting on your future—and an MBA is still a big commitment. Here are some things to consider when deciding to pursue an MBA.

The Pros and Cons of Getting an MBA

Getting an MBA won’t be right for everyone, but it could be one way to advance your career. Here are some things to consider as you weigh the pros and cons of getting an MBA.

Pros to Consider

Improved earning potential. The average anticipated salary for MBA graduates entering the workforce is $79,043 according to the National Association of Colleges and Employers. A recent grad’s expected salary may be even higher depending on where a student gets their MBA. According to US News & World Report, the average salary for 2019 MBA graduates at the top 129 full-time MBA programs was $106,757. For top 10 programs, the average salary and bonus was $173,960.

But if you’re wondering if it’s worth getting an MBA from a lower tier school, consider that the average MBA salary for graduates with a degree from the 10 schools where compensation was lowest was just $52,720 .

Expanded Network. Business school can be a great opportunity to make friends and network with like-minded individuals. In addition to your peers in the program, you’ll engage with faculty and be introduced to a (hopefully robust) alumni network.

Career Acceleration or Transition. Successful completion of an MBA program can improve an individual’s career mobility. Coursework is often designed to encourage management skills, critical thinking, and other specialized skills, which can help prepare people for the workforce.

Cons to Consider

The cost. According to US News & World Report , in 2020 the average cost of the top 10 business schools in the United States was over $140,000 for tuition in a two-year MBA program. The most recent data available from the National Center of Education Statistics indicates that during the 2015-16 school year, the average MBA student loan debt was $66,300 at the time of graduation.

There are ways to mitigate the cost or to at least lower sticker shock out of the gate by pursuing part-time programs or staggering your course load over a longer period of time so you can still be drawing a salary to offset the costs while you’re studying.

Time commitment. Getting an MBA in a full-time program can take two years. There are some accelerated programs that may allow students to complete their coursework in 12 to 16 months. Beyond the length of the program, MBA classes are no joke. The coursework requires commitment and diligence, so be sure you have the time to dedicate to classes.

Consider factoring in the application process when evaluating both time and cost. To apply, schools may require GMAT™ scores, letters of recommendation, and more. Meeting the application requirements may take both time and money if you still need to take the required standardized tests.

How to Decide If an MBA Is Worth It for You

While an MBA can offer great potential for career growth, it’s definitely not the right choice for everyone. Be honest with yourself about why you want to pursue an MBA. It can be an excellent opportunity for students who are interested in career growth but it can be a huge time and monetary commitment.

Take the time to really evaluate whether getting an MBA is in line with your career and personal goals. Also understand the types of schools you may be able to get into, as the earning potential for someone who attended a top-tier school isn’t the same as someone who is enrolled in a lower-tier program.

When sitting down to crunch the numbers and assess your goals, pay particular attention to long-term salary projections among graduates from the program you have in mind—assuming future earning potential is a primary motivator for getting an MBA. Debt may be offset by future salary. But because signing on for grad school is a big and expensive decision overall, it’s worth considering all angles.

How to Pay for an MBA

One approach to college programs is to first seek fellowships, scholarships, and grants—and to then pay for costs out of pocket or to seek a loan as a last resort. Unlike undergraduate scholarships, which may be based on financial needs, MBA fellowships and grants are often awarded on merit. That means rather than taking financial need into account, oftentimes programs will be looking at a student’s achievements, talents, abilities, and performance in spite of hardship.

Generally speaking, when trying for a merit-based award, it helps to apply early, really ponder how you’re distinct from your competition, and push yourself to craft your application specifically for the program. Admissions folks and fellowship committees spend a lot of time reading a ton of applications and can tell instantly when an essay has been rubber-stamped—spell check, read your application over repeatedly, and don’t rush any aspect of it.

When in doubt, consider calling the admissions office for guidance or for information on programs and awards that may not be fully described online. But many MBA programs, including, for example NYU Stern, clearly indicates that “about 20-25% of admitted full-time two-year MBA students receive a merit-based scholarship.” NYU Stern’s website runs down many of the possible scholarships and fellowships prospective students can try for and what’s required.

Review fellowship opportunities available at the college or university you are interested in attending. Fellowships can be highly competitive and rare but offer a chance to attend a program, earn a degree, and avoid incurring the full cost of tuition. Not all schools offer them, but the University of Florida’s Warrington College of Business and Arizona State University’s W.P. Carey School of Business are just two examples of ones that do.

It might sound like an incredible long shot to earn a full free ride or even a considerably discounted one via aid—but it’s always worth pursuing because you may be closer than you think.

Recommended: How To Pay For Grad School

Student Loans for Graduate School

Student loans are another option students can use to pay for graduate school. To apply for federal aid, students will need to fill out the Free Application for Federal Aid. It’s important to note that the federal loans available for graduate students vs undergraduate students are different. Importantly, graduate students are not eligible for subsidized loans.

While your search for aid often starts with the university’s website and making contact with real humans there—not just going off what’s online—it’s also worth getting on the phone to lenders and finance companies to shop around and get the lay of the land. SoFi offers options to help students refinance existing student loans or to take out a new one. According to The Fed, there is currently over $1.7T in student loan debt . Chances are anyone thinking about school would like to avoid personally contributing to that statistic. Note that refinancing eliminates federal loans from borrower protections like deferment or forbearance.

Recommended: The Lifetime Cost of an MBA Degree

Employer Tuition Reimbursement Programs

In addition to getting on the horn with the schools you’re considering, it’s worth talking to your employer. Some employers have programs where they will pay for all or part of your MBA if you commit to returning and staying with the company for a set number of years after you earn the degree.

A 2019 survey from the Graduate Management Admission Council found that 40% of companies offer education sponsorship . If you’re among the current majority of the 60% other companies, there may still be tuition reimbursement programs—it’s worth at least asking about.

You can also explore business school assistantship programs as a way to offset the cost of tuition. These are jobs that may require you to help school faculty with tasks like conducting research or grading papers, and can also help provide you with a stipend as well to help with personal expenses outside of the debt owed to the school you’re working to erode. Contact your school’s employment office for details—but know that like with every other option to minimize the bill for a degree, the competition is likely to be fierce.

Recommended: How Does Tuition Reimbursement Work?

The Takeaway

Even if you don’t have a few dream graduate schools in mind yet, it’s a good bet you know it’s a pricey proposition and not one to be pursued on a whim. In addition to this article, it would be worth reading our content on how today people are taking on a larger amount of debt for master’s, MBA, law, and medical programs than ever before.

Compared to undergrads, grad students are taking on more debt, taking out loans that come with higher interest rates, and there’s the additional opportunity cost of just time invested in your own life—later in life—that comes with pursuing another degree.

That doesn’t mean it isn’t worth getting an MBA necessarily, it just means before making the final decision about pursuing it, it’s helpful—necessary even—to sit down, do your homework, and really think it through to develop a strategy and identify where compromises might also be called for.

Like a Bachelor’s, an MBA is not a guarantee of anything in your future. Obtaining an MBA will not magically earn you a better salary, grant you access to a better network, or help you figure out your path in life. Like any degree, an MBA is a tool that might help you quickly pivot your career or “check a box” for earning a promotion with your current employer. Whether that’s worth it depends on your own specific situation and set of goals.

IF YOU ARE LOOKING TO REFINANCE FEDERAL STUDENT LOANS, PLEASE BE AWARE THAT THE WHITE HOUSE HAS ANNOUNCED UP TO $20,000 OF STUDENT LOAN FORGIVENESS FOR PELL GRANT RECIPIENTS AND $10,000 FOR QUALIFYING BORROWERS WHOSE STUDENT LOANS ARE FEDERALLY HELD. ADDITIONALLY, THE FEDERAL STUDENT LOAN PAYMENT PAUSE AND INTEREST HOLIDAY HAS BEEN EXTENDED TO DEC. 31, 2022. PLEASE CAREFULLY CONSIDER THESE CHANGES BEFORE REFINANCING FEDERALLY HELD LOANS WITH SOFI, SINCE THE AMOUNT OR PORTION OF YOUR FEDERAL STUDENT DEBT THAT YOU REFINANCE WILL NO LONGER QUALIFY FOR THE FEDERAL LOAN PAYMENT SUSPENSION, INTEREST WAIVER, OR ANY OTHER CURRENT OR FUTURE BENEFITS APPLICABLE TO FEDERAL LOANS. CLICK HERE FOR MORE INFORMATION.
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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

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

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Making it to high school graduation is a big deal. For most people, it’s taken 13 years of education since starting in kindergarten.

This is a time to celebrate, but also to start planning for the next step into adulthood. Taking care of the practical stuff now can allow more time to enjoy your senior year and relax before moving on to the next big thing.

To help get you started, check out these tips to close out high school on a high note and prepare for summer and beyond.

Preparing for High School Graduation

1. Keeping Up Your Grades

You’re almost across the finish line. Yet, slacking off and letting grades slip could be a red flag for the college you plan on attending in the fall.

The extent to which colleges look at senior year grades varies. If an A in calculus drops to a B, that’s probably not a cause for alarm. Rather, having grades fall below a college’s admissions standards could run the risk of a rescinded offer. Staying on top of your coursework and taking some challenging classes your senior year could pay off in the fall.

2. Ordering Your Cap and Gown

To attend high school graduation, you’ll likely have to look the part. If you have an older sibling or friend who graduated before you and is around your size, you can kindly ask to borrow their cap and gown, assuming it’ll match your classmates’ at graduation.

Renting a cap and gown could save money if that option is offered at your high school. Rentals may require a deposit and will likely need to be returned right after the ceremony to discourage graduates from walking off with them amid all the excitement.

If you go the rental route, you may still need to purchase a tassel unique to your graduating class.
Traditionally, there is a moment during the ceremony when graduates are asked to flip their tassel from one side of their cap to the other, which signifies graduation.

3. Return Library Books

At many high schools, failing to return library books, or pay any accrued late fees could make you ineligible to walk at graduation. If there are any other fees or outstanding holds that will prevent you from walking at graduation, take care of them as soon as possible. Your guidance counselor or another administrator at the school may be able to help if you’re not sure.

4. Picking a Graduation-Day Outfit

Yes, you will be wearing your cap and gown for the ceremony. But what about photos afterward? Pick an outfit that is both stylish and one you feel comfortable in. There’ll likely be a lot of photos to celebrate this accomplishment, and wearing an outfit you feel your best in can help make you feel good in front of the camera.

5. Reserving Tickets for Graduation

Some schools may limit the number of tickets a student can reserve for graduation due to venue capacity. In some cases, students may be able request additional tickets, but they are not always guaranteed. If your school has a ticket limit or request process, stay on top of deadlines.

6. Inviting Family and Friends to Graduation

Once you know how many tickets you have to your graduation, you’ll need to invite family or friends to the ceremony. Parents, siblings, grandparents, or close friends may all want to come watch, but if there are ticket restrictions, you may be limited in who you can invite.

Consider sending the information for the ceremony including date, time, location, and any parking instructions in writing via email or text so your family members can easily reference relevant details to see you walk across that stage.

7. Taking Photos with Friends and Family

Graduating high school is a major accomplishment. This is a day you’ll want to remember and you’ll want to get photos with family and friends on the big day. Scope out some meaningful locations for a few photos. If you run hurdles, perhaps you want some photos out on the school track.

8. Registering for Dorm Room Necessities

If you’re expecting gifts from family and friends in honor of your graduation, consider registering for dorm room necessities like towels, twin-XL sheets, duvet, or a mini-fridge. Letting your family know what you want and need for the next four years could make it easier for them to purchase something you’ll actually use.

9. Celebrating With Friends and Family

High school graduates have passed numerous milestones from kindergarten to senior year. Besides the homework and exams, many high schoolers have put countless hours into varsity sports, drama club, marching band, or other extracurricular activities.

High school graduation is a well-deserved moment to have fun and celebrate the culmination of these accomplishments. Whether you’re moving away for college or commuting from home, your schedule may change significantly.

Spending time with family and friends, attending senior activities, and throwing a graduation party are some ways to honor the occasion and process the transition.

10. Plan Your Graduation Party (If You’re Hosting One)

Graduation parties are popular for high schoolers (and their families). If you — or your parents — are hosting a party you’ll want to determine details like the date, time, and location, budget for the event, and guest list.

You’ll want to invite guests and track RSVPs so you can get an accurate headcount for food and drink at the event. From there, you can look into decorations and any party rentals (like chairs, flatware, plates, table cloths, and more).

11. Writing Thank You Notes

As you receive graduation gifts, keep a log of who sent each gift. Show your gratitude for thoughtful gifts by writing a thank you note to each sender. Express your thanks for the gift, and mention a couple specific details about the item they sent and how you plan to use it. Close out your thank you with a thoughtful note about when you hope to see them next (or how great it was to see them at your graduation party) and thank them once again.

Generally, it’s best to send your thank you notes soon after receiving the gifts, so staying organized as you approach graduation can be helpful.

12. Landing a Summer Job

Between hanging out with friends and going on family trips, you might have time to take on a part-time or full-time summer job. These experiences can help boost your resume and gain references for internships and jobs down the road.

Additionally, putting in some hours now can further pad your college savings for tuition and living expenses. If all goes well, you may be invited back to work next summer.

13. Managing Your Schedule and Setting Goals

College schedules can be a big adjustment for students. Instead of following a strict bell schedule like most high schools have, college students are responsible for managing their own schedules with little oversight.

Each college course’s credit hours usually indicate how many hours that class meets per week. Full-time students typically take between 12 and 18 credit hours each semester, which translates to roughly the same number of hours in class. This means college students have more flexibility than high school students in planning their schedule for completing homework and other assignments. That flexibility also means more responsibility for their own time management.

Students might consider preparing for this adjustment by trying out a few planning systems — e.g., paper, digital, or a combination of both — to see what works best for them so they’ll be ready to hit the ground running in the fall.

Some things to plan for, other than class schedules, might be a summer job schedule, family vacations, summer parties with friends, or savings goals.

14. Cleaning up Your Social Media Presence

High school can feel like a bubble. Some students have known each other since elementary school.

Upon graduating and leaving this familiar environment, graduates will encounter an influx of new friends, coworkers, employers, and professors. To put your best foot forward in these scenarios, it could be worth revisiting your social media posts on platforms like Facebook, Instagram, and Twitter.

Many people have said or posted things online they aren’t proud of or no longer reflect their current opinions on a subject. Checking to see what posts you’re tagged in, too, can help refine your online presence and give peace of mind as you head into the “real world.”

In serious cases, colleges have rescinded students’ admission for inappropriate and offensive conduct on social media.

Recommended: 25 Smart Things to do With Your Graduation Money

Preparing for College

While finishing senior year and taking care of high school graduation, getting ready for college is just around the corner. There are plenty of ways to prepare for college before the fall semester rolls around. Let’s take a look at some of the key things you may want to consider.

1. Creating a Plan to Pay for College

Pay for college often requires students to pull together a few different types of funding. In addition to savings or using your grad money to pay for college expenses, students can also rely on financial aid including scholarships, grants, federal student loans, and work-study.

Typically, college-bound high school seniors will fill out the Free Application for Federal Student Aid (FAFSA®) in February. This form is the first step in applying for federal student aid, which can include scholarships, grants, and loans, depending on a student’s eligibility.

Students who are looking to fill gaps in funding may consider private student loans — which are offered by private lenders and lack benefits offered to federal student loans, like deferment or forgiveness options. Check out SoFi’s guide to private student loans for more information.

2. Researching Classes and Majors

Generally speaking, most programs do not require incoming freshmen to declare a major right away. Still, taking some time before registration to learn about different majors and general course requirements can help students figure out what they want to study, create a balanced schedule, and graduate on time.

3. Getting Ready to Move Away From Home

Students planning to attend college away from home may be feeling a mix of excitement and stress about moving.

Putting that energy into planning for college living arrangements might alleviate some of those feelings.

If coordinating with roommates ahead of time is a possibility, students might consider splitting up the list of room necessities — one roomie can bring the microwave and another can bring the mini-fridge. If the college provides those things, there are many other items that can make the transition from home to college dorm easier.

Recommended: College Essentials: What to Bring to College

The Takeaway

Graduating from high school is a huge accomplishment. As you approach graduation day, make sure you have met graduation requirements and have no holds on your student account that will prevent you from walking. Get ready for the big day by ordering your cap and gown, picking your grad day outfit, reserving tickets for the ceremony, and planning a celebration with friends and family.

3 Student Loan Tips

1.    Can’t cover your school bills? If you’ve exhausted all federal aid options, private student loans can fill gaps in need, up to the school’s cost of attendance, which includes tuition, books, housing, meals, transportation, and personal expenses.

2.    Parents and sponsors with strong credit and income may find much lower rates on no-fee private parent student loans than federal parent PLUS loans. Federal PLUS loans also come with an origination fee.

3.    Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too. You can submit it as early as Oct. 1.

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

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

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

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Interested in a career as a cosmetologist? Enrolling in an accredited beauty school is a smart first step to take.

One important consideration is how much cosmetology school costs. Tuition can run several thousands of dollars per year and will likely be one of your biggest expenses. But there are other costs to consider as well. Keep reading to learn about the cost of cosmetology school and ways you can help lower your financial burden.

How Much Does Cosmetology School Cost on Average?

Beauty school students can expect to spend anywhere from $5,000 to $20,000 for tuition and fees. The cost of cosmetology school can vary based on location. Schools in major cities tend to charge more than those in smaller communities. To get a full list of expected tuition and expenses, contact the school’s admissions office.

How Much Do Books and Materials Cost?

In addition to tuition and fees, you’ll also want to budget for the cost of books and materials. Textbooks alone can range from $2,000 to $3,000 or more, depending on your instructor. Add to that the cost of any supplies and tools you’ll need to help you practice your craft. Think shampoos, conditioners, styling products, scissors, electric clippers, mannequins, and more. Your cosmetology school may provide some of these materials, but others you’ll need to buy.

How Can You Reduce the Cost of Cosmetology School?

Though cosmetology school typically takes less time to complete than a four-year college, the costs of those few semesters can add up quickly. The good news is, there are different ways you can help lower your financial burden.

Apply for Scholarships and Grants

Scholarships may be based on merit or financial need and generally don’t need to be paid back. Cosmetology schools can point you toward scholarship opportunities, or you can do an online scholarship search to find out what’s available to you.

Grants are typically based on financial need and are offered by the federal government, state government, private companies, and nonprofits. They’re generally awarded in a federal financial aid package. Like most scholarships, grants don’t have to be paid back.

Consider Student Loans

Student loans can help you cover the cost of attending cosmetology school. In general, it’s a good idea to exhaust all possible federal student loan options first before applying for private student loans. Federal student loans have a fixed interest rate that’s usually lower than private loans and also provide certain safety nets like forbearance or deferment.

Recommended: The Differences Between Grants, Scholarships, and Loans

Fill Out the Free Application for Federal Student Aid (FAFSA)

Filling out the FAFSA application is how students can find out how much federal financial aid they’re eligible for, including loans, grants, and scholarships. The FAFSA applies to a single academic year, which means you’ll need to submit a new form each year. To maximize your potential aid, aim to turn in the FAFSA before the annual deadline.

Recommended: FAFSA Tips and Mistakes to Avoid

Save on Textbooks

Cosmetology school textbooks can be pricey. To help lower costs, look into renting textbooks or buying them used. If you do purchase textbooks, consider selling them once the semester ends and putting that cash towards the next set of books.

Rent Supplies

You may be able to rent certain supplies or supplies instead of purchasing them. This is especially helpful for equipment you won’t need after graduation, like practice mannequins.

Live at Home

If possible, move in with family or friends while you’re in school to save on housing and living expenses. If that’s not an option, look into renting a place with roommates and splitting the costs.

Find a Part-Time Job

Getting a part-time job can help you cover some of the cost of cosmetology school — and maybe even take out less in student loans. Look for gigs with flexible hours that allow you to more easily balance work and class. Consider working in an on-campus student salon, if one is offered at your school. Besides the additional practice, you could also make some extra money.

The Takeaway

The cost of cosmetology school can be significant. Tuition runs anywhere from $5,000 to $20,000, and textbooks, supplies and living expenses can add to your financial burden. But there are ways to cover costs, including scholarships, grants, a part-time job, and student loans.

3 Student Loan Tips

Here are our top three tips to help you understand and navigate student loans.

Complete the FAFSA

Even if you don’t think you qualify for financial aid, you should still fill out the FAFSA form. Many schools require it for merit-based scholarships, too. You can submit it as early as Oct. 1.

Understand Your Borrowing Options

Would-be borrowers will want to understand the different types of student loans peppering the landscape: private student loans, federal Direct subsidized and unsubsidized loans, Direct PLUS loans, and more.

Consider Federal Aid First

It’s a good idea to exhaust all available federal aid options before exploring private student loans.

FAQ

How much is one year of tuition at an accredited cosmetology school?

Beauty school students can expect to spend anywhere from $5,000 to $20,000 for tuition and fees. But the amount you’ll pay may vary depending on where your school is located.

How long is cosmetology school?

It depends on your program. The national average for a full cosmetology program is between 1,400 to 1,600 hours, according to the American Association of Cosmetology Schools. Full-time students typically finish that program in less than two years. But certain programs are shorter and can be completed in six months or so. For instance, the national average for nail technology is 300 hours; for electrologists is 500 hours; and for esthetics is 650 hours.

Is a high school diploma required to attend cosmetology school?

Some states require a high school diploma or G.E.D., but others do not. You may also need to be a certain age to apply for beauty school. Check the rules in your state to find out if you’re eligible.

Photo credit: iStock/Kemal Yildirim

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

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.

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