After four years of hard work in high school, the college acceptance letters begin to roll in. If a student is lucky enough to receive multiple acceptance offers from colleges, then they have some big decisions to make.
Chances are, they will make that decision by May 1 — also known as College Decision Day. For most colleges and universities across the United States, May 1 is the deadline for prospective students to confirm their admission plans. This is when many students submit a nonrefundable deposit to formalize their choice and new commitment.
Before the big day arrives, students and their families will generally want to prepare together. This is a major decision with key factors to consider. Below are seven tips that could help students prepare for college decision day.
Key Points
• May 1st is the national deadline for students to accept college admission offers. Missing this date can result in losing your spot, so it’s crucial to make your decision and submit any required deposits on time.
• Review each school’s financial aid package, considering grants, scholarships, loans, and work-study opportunities.
• If your financial situation changes or if you have questions about your aid package, reach out to the college’s financial aid office. They may provide additional resources or guidance.
• Keep track of all important documents, including acceptance letters, financial aid offers, housing applications, and any forms you’ve submitted. Organizing these will help ensure a smooth transition.
• Use checklists and calendars to keep track of deadlines and requirements. Staying organized will help reduce stress and ensure you don’t miss any critical steps in the enrollment process.
1. Get Organized and Know the Deadlines
The college application and acceptance process can be daunting. If a student has multiple offers to choose from, they may feel overwhelmed with the information to review and certain deadlines to meet.
Here are some deadlines you should remember and paperwork you may organize as College Decision Day approaches
Key Deadlines to Remember in 2025
As College Decision Day approaches in 2025, staying on top of important deadlines is crucial for students and families navigating the college admissions process. Decision Day, traditionally set for May 1, is the final date by which most students must confirm their enrollment at the college of their choice. Missing key dates along the way — such as financial aid deadlines, housing applications, and scholarship submissions — can impact your options and opportunities. Below are some 2025 deadlines to keep in mind:
• FAFSA® submission deadline: June 30, 2025 — However, submit the FAFSA as early as possible for maximum aid consideration (it opened in December 2024).
• CSS Profile deadline: Varies by school, often between January and March 31 — check individual college requirements.
• College Decision Day: May 1, 2025 — The national deadline to accept admission offers and submit enrollment deposits.
• Housing applications: Usually due between April and May 2025 — dates differ by college; early applications improve dorm selection.
• Scholarship deadlines: College scholarships typically range from fall 2024 through spring 2025 — many priority deadlines fall in March or April.
• Appeals for financial aid offers: Ideally submitted shortly after receiving your aid package — March through early May 2025 for best results, but you can submit an appeal any time your financial situation changes.
Staying organized with a calendar and checking with each college’s admissions and financial aid office will help ensure nothing is missed during this important transition.
Important Paperwork to Keep Track Of
As College Decision Day nears, keeping track of key documents is essential to ensure a smooth enrollment process. Between comparing offers, finalizing decisions, and submitting paperwork, staying organized can save time and reduce stress. Paperwork you’ll want to keep track of includes:
• College acceptance letters – Proof of admission for each school you’re considering.
• Financial aid offers – Detailed breakdowns of aid packages from each college, including grants, scholarships, and student loan options.
• FAFSA confirmation page – A record of your Free Application for Federal Student Aid submission and any updates.
• CSS Profile submission confirmation – If applicable, this verifies you submitted required financial information to private colleges.
• Scholarship award letters – Both internal and external awards should be documented and reviewed.
• Enrollment deposit receipts – Proof of payment to your chosen college.
• Housing application confirmations – Dates, forms, and receipts tied to on-campus housing requests.
• Copies of submitted forms – Any forms you’ve sent to the college, such as immunization records or residency verification.
• Communication records – Emails or notes from phone calls with admissions or financial aid offices.
Organizing these documents in a digital folder or physical binder can make a big difference in staying on top of all College Decision Day requirements when preparing for college.
2. Compare Financial Aid Offers
It’s no secret that college can be quite expensive. Before officially deciding which college to attend, it’s important to compare any financial aid offers.
Schools may have different policies and opportunities regarding financial assistance, which can include scholarships and grants. Comparing financial aid packages can help you see which school is most affordable for your budget. Money may not be the deciding factor for a student, but many may take the cost of attendance into consideration.
Once accepted to a college, the student can generally expect to receive a financial aid award letter that outlines what grants, scholarships, loans, and work-study options will be available to them. This can help families calculate the cost of attendance as well as help them understand what their financing options are.
This letter will only account for the first year of enrollment, so it can be worthwhile to request information from each school about how much tuition and fee prices have risen over the past few years.
How to Evaluate Financial Aid Offers in 2025
Evaluating financial aid offers in 2025 requires a close look beyond just the total dollar amount. Start by separating grants and scholarships — which don’t need to be repaid — from student loans, which do. Consider the net cost of attendance after aid is applied, including tuition, fees, housing, and meal plans.
Next, compare loan interest rates, repayment terms, and work-study options. Don’t forget to assess whether aid packages are renewable each year and what GPA or enrollment requirements are needed to maintain them.
Understanding the Impact of Recent Policy Changes
Understanding recent policy changes is crucial for students and families navigating financial aid in 2025. The FAFSA Simplification Act (enacted in 2020) has significantly overhauled the Free Application for Federal Student Aid, reducing the number of questions from 108 to 36, streamlining the process, and introducing the Student Aid Index (SAI) to replace the Expected Family Contribution (EFC). These changes aim to make financial aid more accessible and transparent.
However, the financial aid landscape is also experiencing uncertainty due to recent administrative actions. The Trump administration’s proposal to transfer the management of federal student loans from the Department of Education to the Small Business Administration has raised concerns about the SBA’s capacity to handle such responsibilities, given its lack of experience with student loans.
Furthermore, a temporary federal grant pause initiated by the administration, though later rescinded, created confusion and highlighted the potential for abrupt policy shifts. Students and families should stay informed through official channels like StudentAid.gov to navigate these evolving changes effectively.
3. Reserving Spots
To reserve a student’s spot at the college they’ve chosen to accept, they will generally need to pay an enrollment deposit fee. This fee is typically nonrefundable and guarantees the student has a spot at the school. The fee can vary in price from $100 to $1,000, depending on the school. Once school begins, this deposit is applied to the tuition bill or costs relating to housing, orientation, or school fees.
What You Need to Know About Enrollment Deposits
As stated above, enrollment deposit fees typically range from $100 to $1,000, though the amount can vary by school. The fee holds your spot in the incoming class and often goes toward your first tuition bill.
Students who are struggling to make a decision about which college to attend may be tempted to put down multiple deposits to buy themselves some extra time to make a decision. This practice is referred to as “double depositing” and is generally frowned upon, as it can negatively impact other applicants, particularly those on a waitlist hoping to enroll.
4. Mull Over the Waitlist
Making a decision about which college to attend can be tricky, especially if the student has been accepted to multiple schools that they are interested in attending. This decision can be even more challenging to make if a student is waiting to hear back from a dream college or has been waitlisted at one of their top picks.
Depending on the applicant and the school, getting off the waitlist and into the school can be competitive. Even if a student makes it off the waitlist, that school may not be worth waiting for.
Students who are accepted after being waitlisted may find that they receive less financial assistance in the form of grants or financial aid by the time they are admitted, as being waitlisted can put them to the back of the line for financial assistance.
Being waitlisted by a school you wish to attend can be disheartening, especially if you remain on the waiting list when College Decision Day arrives. In that circumstance, you might consider another institution that may welcome you with open arms.
5. When Decision Day Arrives
Ideally, making a final decision about which college to attend can happen before the national decision day. Waiting until the last minute offers very little wiggle room if something goes wrong with the acceptance process (say, a computer glitch or busy phone lines).
That being said, if a student has not accepted their first choice college by May 1 or the specific acceptance dates of each college they received offers from, that should be their top priority. If they have already accepted a college offer, May 1 is a good day to double- and triple-check that they are officially enrolled. Better safe than sorry!
Next, rejecting the colleges the student won’t be accepting is another step to take. By not accepting the offer, the student will lose their spot, but the sooner they reject an offer, the sooner the college may be able to offer their spot to another student on the waitlist.
6. If a Student Misses the Deadline
Of course, missing the college decision deadline is not ideal, and in many scenarios, missing this deadline can eliminate the student’s option of attending the school.
If a student misses the deadline, though, all hope is not lost. Some schools struggle to hit their enrollment targets by May 1. Plus, many schools lose students during the summer due to “summer melt.” Summer melt occurs when an accepted college student does not show up in the fall. Because of this, some schools may have a bit of secret wiggle room in their acceptance policy.
7. Financing a College Education
If paying for college is a concern, which it is for many families, there are options for easing the burden of paying for a pricey college education.
Once students have accepted a college offer and reviewed their financial aid package, they generally have a firm idea of how much they will need to borrow to fund their education. This is where student loans can come in handy. There are two types of student loans available: federal and private.
Federal Student Loans
The U.S. Department of Education provides federal student loans under its Direct Loan program. This means federal student loans have terms and conditions that are legally set by the federal government. Private lenders do not have to offer the same terms, such as fixed interest rates and student loan deferment, that students can get from federal student loans.
Federal Student Loans: What’s Changed in 2025
In 2025, significant federal policy changes have reshaped student loan management and repayment options, including:
• The Trump administration initiated the transfer of federal student loan oversight from the Department of Education to the Small Business Administration (SBA), raising concerns about the SBA’s capacity to manage the student debt portfolio effectively.
• Enrollment in the SAVE Plan, one of several income-driven repayment plans, has been halted following a February court ruling, limiting affordable payment options for borrowers. These developments have introduced uncertainty and potential challenges for borrowers navigating their repayment responsibilities.
Recommended: Student Loan and Scholarship Information
Private Student Loans: Understanding Your Options
When it comes to private student loans, students and families have several options to consider based on their financial needs and credit profiles. Here are three common types:
• Fixed-rate loans: These loans have an interest rate that stays the same for the life of the loan, offering predictability in monthly payments.
• Variable-rate loans: These loans may sometimes start with a lower interest rate, but it can fluctuate over time based on market conditions, potentially increasing monthly payments.
• Loans with cosigners: Many students apply with a creditworthy student loan cosigner, such as a parent, to improve their chances of approval and secure better interest rates.
Some lenders also offer student loans with deferment options, allowing students to delay payments until after graduation, or career-specific graduate loans tailored to students in professional programs like law or medicine.
The Takeaway
Higher education can prepare students for professional work, but deciding which college to attend is not always an easy choice. Selecting the right school for you may involve several considerations, including the cost of tuition and other expenses associated with college life.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
FAQ
What should I consider when comparing financial aid offers in 2025?
When comparing financial aid offers in 2025, consider the total cost of attendance, including tuition, fees, housing, and books. Evaluate grants versus loans, repayment terms, and work-study opportunities. Also, factor in scholarship renewability, interest rates, and out-of-pocket costs to determine the most affordable and sustainable option for your situation.
What happens if I miss the College Decision Day deadline?
If you miss the College Decision Day deadline, you may lose your spot at your chosen school. Colleges often reallocate unclaimed offers to waitlisted students. Contact the admissions office immediately, as some may offer short extensions. Missing the deadline can also impact your eligibility for scholarships and housing preferences.
Can I apply for more financial aid after receiving my college acceptance?
Yes, you can apply for more financial aid after college acceptance. If you’ve had a change in circumstances, submit a FAFSA update or contact the financial aid office to explain the changes. Some colleges also accept appeals for additional aid, especially if your family’s income or situation has recently changed. You can also apply for most private student loans anytime throughout the year.
How can I appeal my financial aid offer?
To appeal your financial aid offer, contact your college’s financial aid office and request their appeal process. Submit a formal letter explaining your financial changes or special circumstances, such as job loss or medical expenses. Include documentation to support your case. Appeals are reviewed individually and may increase your aid.
Are there any new student loan options for 2025?
There are many changes to student loans in 2025. The Trump administration plans to transfer federal student loan management from the Department of Education to the Small Business Administration, raising concerns about borrower support and system stability. While existing programs like Public Service Loan Forgiveness and income-driven repayment remain, their terms may evolve. Borrowers should stay informed through official channels like StudentAid.gov to navigate these developments.
How do recent federal policy changes affect my student loans?
Recent federal policy changes in 2025 are significantly impacting student loans. To start, the Biden administration’s SAVE plan, designed to reduce payments and offer quicker forgiveness, has been blocked by court rulings. And while Public Service Loan Forgiveness and income-driven repayment plans remain, their terms may evolve. You can stay up-to-date by visiting StudentAid.gov regularly.
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., 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 04/24/2024 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.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
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.
SOISL-Q225-006