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After studying for standardized tests, applying to schools, and leaving home for college, it may feel like the big decisions are over. Getting to campus is an achievement any student should be proud of, but starting a four-year degree comes with its own share of choices.

Top among them is picking a college major. Declaring a major is a personal process based on a student’s interests, strengths, and projected career track. But simply browsing the course catalog to search for the right major is enough to make even the most assured student’s head spin.

[For many undergraduates, choosing a major is intimidating, especially when colleges and universities offer dozens or even hundreds of options. Researching the most popular majors can help undecided students narrow their selection and find the best majors for their interests and professional goals.]

A Major List

While popularity doesn’t need to drive which major you choose, diving into the data on popular college majors can illuminate trends and provide a jumping-off point for college students who just can’t decide how to declare.

Based on Niche’s top majors , ranked by the number of degrees awarded, here’s what students are studying at U.S. colleges and what career tracks they can expect when they leave campus.


💡 Quick Tip: Fund your education with a low-rate, no-fee SoFi private student loan that covers all school-certified costs.

Business and Management

Major Description: An all-encompassing term, business and management programs provide a baseline of business principles, which include critical thinking and analysis. Courses include Accounting, Business Ethics, Team Development, and Human Resources.

Job Opportunities: This broad major provides lots of postgrad directions. It can take graduates on an MBA track or can feed directly into the job market with roles in accounting, marketing, sales, account management, or financial analysis.

Recommended: Return on Education for Bachelor’s Degrees

Nursing

Major Description: There are many pathways to a nursing education. From certifications to master’s degrees, nursing course loads include everything from Anatomy and Chemistry to Statistics and care for specific populations.

Job Opportunities: The demand for nurses is growing as the industry faces a shortage of qualified hires. Graduates with a nursing degree can choose from a variety of career tracks, from being a school nurse or research nurse to working on a cruise ship or in the emergency room.

Psychology

Major Description: Psychology is the deep dive into human behavior and what drives us. A degree in psychology can be a Bachelor of Science or a Bachelor of Arts, depending on the course load. Areas of study include learning, memory, development, addiction, and childhood development.

Job Opportunities: A bachelor’s degree in psychology could mean heading to a master’s program or a doctorate, or it could lead to immediate employment in fields like marketing, teaching, or human resources.

Biology

Major Description: Biology is the study of living things, so biology majors can expect to spend plenty of class time in the lab, learning everything from human anatomy to molecular biology. It’s a mix of math, science, chemistry, and, of course, biology.

Job Opportunities: Some biology majors may choose the medical school track after graduation, but that’s not the only path to employment. Biology majors can pursue careers in pharmaceuticals, research, genetics, medicine, and even finance (thanks to a background in math and research).

Engineering

Major Description: A degree in engineering means having the critical thinking skills to solve problems. Engineering majors, embodying a mix of math, science, and business, can choose specific areas of study, from the environment to structural mechanics and chemicals.

Job Opportunities: From the laboratory to a construction site or hospital, engineers have a wide variety of career tracks to choose from. Much of this will be informed by a student’s specific area of study. A structural or civil engineer might work on state building projects, while a chemical engineer is more likely to be found in the lab, perfecting everything from medicine to cosmetics.

Recommended: Computer Science vs. Computer Engineering: What’s the Difference?

Education

Major Description: A degree in education includes studying psychology, education, and often an area of expertise (what the student will teach after graduation).

Job Opportunities: A degree in education doesn’t always mean a teaching career. Besides teaching, graduates can go into a variety of industries that support the education system, including school administration, counseling, education policy, or student life.

Recommended: What is a TEACH Grant and How Do You Get One?

Communications

Major Description: Communications is an umbrella term for the study of media and information, from journalism to social media and public relations. Classes a communications major might take are News Writing, Mass Communications, Film Studies, and Social Media.

Job Opportunities: What graduates will do with a communications degree will hinge on the type of media they studied in school. A student who concentrates in visual media might work as a video producer or camera operator. One who studied journalism might work in public relations or technical writing.

Finance and Accounting

Major Description: Finance and accounting deal with the scrutiny of numbers. Finance often focuses on the longer term — like financial planning and budgeting. Accounting can involve more short-term money matters, like analyzing financial statements. Both degrees involve studying math, business, finances, and investments.

Job Opportunities: With a degree in finance or accounting, it’s only natural to pursue a role that deals with math and/or money. Accounting majors can pursue careers in accounting, bookkeeping, or auditing. Finance can lead to roles as an advisor, planner, or analyst in the finance space.

Recommended: Ca$h Course: A Student’s Guide to Money

Criminal Justice

Major Description: For those interested in the law, majoring in criminal justice might be a good fit. This major explores not only the legal system but also the psychological study of crime, sociology, and public policy.

Job Opportunities: After graduation, many criminal justice majors will pursue law school, but that’s not the only option. Graduates can also explore law enforcement or counseling.

Anthropology and Sociology

Major Description: Anthropology and sociology are inherently the study of people — the exploration of race, gender, and geography’s influence on societies, blending the study of history with modern analysis.

Job Opportunities: Graduates may work in the research field or medical anthropology. Additionally, they may find work at the federal level, where anthropologists are often required for major projects.

Computer Science

Major Description: Computer science is the study of data, engineering, and the systems surrounding computers. A major in computer science means a steady mix of math classes and software engineering or programming courses.

Job Opportunities: The Bureau of Labor Statistics anticipates the need for computer science jobs to grow by 21% percent from 2021 to 2031, much faster than the average for all occupations. The median annual salary for computer science jobs was $131,490 in 2021 (the most recent year they have data for). Graduates can explore software development, information technology, or network security.

English

Major Description: An English major explores everything about the written word, including genres of literature and interpretation. English majors also learn critical thinking and the ability to write, whether that be technical, creative, legal, or medical writing.

Job Opportunities: Because many jobs include a solid foundation in reading and writing, an English degree can apply across many fields. Graduates might go into teaching, writing (journalist, copywriter, author), communications, or public relations.

Economics

Major Description: Economics combines the study of people with statistics to learn how government and groups develop around resources, typically money. Students will study economic theory, the history of economics, and the math that’s behind much of the statistical monitoring.

Job Opportunities: Graduates can take a variety of roles, thanks to the analytic skills of their major. That, on top of learned communication skills, makes economics majors a good fit for roles like analysts, consultants, and actuaries.

Political Science

Major Description: Political science is the study of governing, including theory, history, and current practices. This area of study requires students to follow current events as well as analyze and research past actions.

Job Opportunities: Studying political science can lead to a job in politics, but there are other options as well. The critical thinking skills lend themselves well to PR and social media management, as well as policy work or analysis.

History

Major Description: History majors analyze the past. A core part of a liberal arts degree, studying history may be a good fit for students who want a generalist education.

Job Opportunities: History majors perfect a lot of skills that come in handy in the workplace. Strong writing, reading, and analytical skills make them a great fit for roles like analyst or consultant, or a career in politics.

Recommended: The Ultimate Guide to Liberal Arts Colleges

Kinesiology/Physical Therapy

Major Description: Kinesiology is the study of physical activity. Specifically, it’s working with people to improve their health through exercising. A degree in kinesiology involves anatomy, hands-on work, and learning to work with patients.

Job Opportunities: For many, a degree in kinesiology is the foundation for a doctorate in physical therapy, but graduates can also apply their skills to careers in training, coaching, and some forms of therapy.

Health Professions

Major Description: This major will prepare students to work in the medical field, helping patients. They can expect to take classes in anatomy, chemistry, biology, public health, and medical ethics.

Job Opportunities: Graduates can find careers as health care aides, nursing assistants, and RNs.

Art

Major Description: Studying art creates the opportunity to both learn the history of a medium and create art. Students may choose a specific form of art or study movements and mediums in general.

Job Opportunities: Grads don’t have to turn to creating art full time unless they want to. They can work as art educators, in museums and art preservation, or try their hand in the work of gallery curation.

Math

Major Description: Students majoring in math will explore all math disciplines, in addition to theoretical and historical context around the subject.

Job Opportunities: A math degree is helpful in any career that deals with interpreting numbers daily: actuary, data scientist, teacher, or software developer.

Environmental Science

Major Description: Studying environmental science can be a great fit for generalists who want to explore many subjects around our surroundings and the science involved. They’ll study chemistry, biology, physics, and geography, among other subjects.

Job Opportunities: Graduates can pursue careers in research in fields including horticulture, oceanography, microbiology, and ecology.


💡 Quick Tip: Would-be borrowers will want to understand the different types of student loans that are available: private student loans, federal Direct Subsidized and Unsubsidized loans, Direct PLUS loans, and more.

Paying for College

Another major decision in the college process? Finding a way to pay for school.

Whatever you decide to major in (and whichever school you end up going to), a great first step to figure out college funding is to complete the Free Application for Federal Student Aid (FAFSA). This will let you know if you are eligible for any federal aid, which may include grants, scholarships, work-study, and federal student loans.

To fill in any gaps in funding, you may also want to explore private student loans. These are available through banks, credit unions, and online lenders. Rates and terms vary by lender but borrowers (or cosigners) with excellent credit typically qualify for the lowest rates.

Just keep in mind that private student loans may not offer borrower protections, such as deferment and income-driven repayment plans, that come with federal 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.

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

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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.

Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

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.

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College can be an exciting time of growth and learning. In fact, for some, the idea of studying one field just isn’t enough. So, they go for it all and become a double major instead.

Double majoring certainly has its perks. It gives you the freedom to study more than one subject, allows you to become more well-rounded during your time in college, and could afford you the opportunity to study both a career path and a passion project at the same time.

However, deciding to become a double major is a big decision, as going after two majors could mean double the work.

Before heading down this path, here are a few things to consider about becoming a double major, including the pros and cons and who might benefit most from having two majors.

What Is a Double Major?

Though the term “double major” can vary from school to school, it typically refers to a student pursuing two different disciplines under one degree.

While in school, the student works to obtain enough credits for majors in those two disciplines. Usually, this means studying two fields based in the same school, which will earn the student the same type of degree, such as a Bachelor of Science (B.S.) or Bachelor of Arts (B.A.).

Classes, including general education classes, might overlap within the two majors, making it easier to complete both courses of study throughout a student’s education.

It’s important to note there is a distinction between a double major and a dual degree.

A dual degree can mean a student is pursuing two separate degrees. This could mean going after two degrees in two different fields (for example, getting a B.A. in English and a B.S. in Finance), or it could mean studying for a Bachelor’s and a Master’s degree at the same time.

Some schools may require you to apply for — and gain acceptance to — both degree programs, and you’ll likely need to finish all requirements (including general education classes) under both degrees.

Again, it’s important to check with your college or university to see how they define a “double major” or a “dual degree” to ensure you are going after the right program.


💡 Quick Tip: You can fund your education with a low-rate, no-fee private student loan that covers all school-certified costs.

How Many People Pursue a Double Major?

Many students choose to go down this path while studying at college or university.

Though the exact number can vary from school to school, it typically ranges somewhere between 10% to 25% of the enrolled student body.

Before diving in and deciding to declare a double major, here are a few pros and cons to consider.

Pros of Declaring a Double Major

Getting to Study Two Areas at Once

Going after a double major can allow you to gain a broader learning experience than others as you expand your classes and curriculum. This means you can leave school with a deep understanding of two totally different topics.

It could also allow you to study something you believe is a direct career path for you, while also exploring an area you are passionate about. And hopefully, in your future career, you can meld the two skill sets together.

Recommended: A Guide to Choosing the Right College Major

Widening Potential Job Opportunities

By studying in two different areas, you may broaden your future career path. After all, having two majors under your belt means you are skilled at more than just one thing.

But, beyond this, employers may also look favorably on candidates with double majors because it shows they have a broad interest in many topics, can handle the pressures of an increased workload, and are ready and willing to take on new, larger tasks with ease.

Staying on Track for Graduating in Four Years

Because most double majors are completed under the same school within a college or university, you can typically still graduate within the standard four-year timeframe.

That’s because you will likely only have to take one set of general education requirements rather than with a dual degree program where you may need to take two.

Completing all of the coursework on time may take some strategic planning, however. If you have questions, consider speaking with your academic advisor, who may be able to provide helpful insight.

Cons of Declaring a Double Major

More Studying

Because you may need to add on more credit hours to earn a double major, you might have to spend more time in classrooms and more time studying than your peers who are in pursuit of a single major.

This can also mean you’ll need to be highly organized and driven to go after a double major, and it might not be right for those who are not self-starters.

Less Time for Outside Interests

Because you will likely be in the classroom or library more often studying, having a double major might mean less time for outside interests and extracurricular activities.

And sure, one goes to college to study. However, it can also serve as an important developmental moment in one’s life.

Taking part in sports, clubs, or activities can help students learn and grow in different ways. It can help them connect with others and serve as a wonderful networking opportunity for future job interests.

It’s critical to weigh your options and make sure you know what you will have to give up to go after a double major.

Potential Increased Tuition

Because you may exceed baseline credit hours, you could end up paying more in tuition. Each credit hour can be costly and going after a double major could be a significant investment.

Consider mapping out your coursework to determine exactly how many credits you’ll be required to complete, and how much extra this may cost.

Weigh the potential additional cost against the value having two majors could provide before declaring.

Recommended: 11 Strategies for Paying for College and Other Expenses

When It Makes the Most Sense to Double Major

In the end, this is a highly personal decision that students must make for themselves or with the guidance of a parent or counselor.

However, it may make sense for anyone who has more than one interest, who wants to broaden the scope of their schooling, or who feels as though a second major will help their future career prospects.

For example, students studying international business may find it helpful to their careers to add a second major in a language.

If someone believes that the return on investment — both in their time and, potentially, money — will be high, then a double major may be right for them.

One Alternative to Double Majoring

There is another way for a student to broaden their horizons and go after their passions throughout their education, and that’s with a minor.

While a major is a student’s main area of study, a minor can be a secondary area of study that requires fewer credit hours to complete than a second major.

Adding a minor can help you broaden your educational scope, allow you to further study areas you are passionate about, and help you walk away with more skills upon graduation.

While a minor doesn’t carry as much weight as a major, you can still list a minor on your resume, which could potentially help you impress recruiters during your post-graduation job search.

Being Financially Prepared to Go After Any Degree You Want

Whether you decide to go after one major, two majors, two degrees, a major and a minor, or some combination of the above, it’s important to be financially prepared for what’s ahead.

Knowing that you have enough funding for college can give you the freedom to explore different academic paths and pursuits without worrying about how you’ll cover the cost.

An important first step is to complete the Free Application for Federal Student Aid (FAFSA). This will let you know if you are eligible for any federal financial aid, which may include grants, scholarships, work-study, and federal student loans.

To fill in any gaps in funding, some students may also consider a private student loan via a bank, credit union, or online lender. To apply for a private student loan, students generally fill out a loan application either alone or with a cosigner.

Unlike federal student loans, the amount a person qualifies for, along with what interest rate, is usually dependent on the applicant’s (or their cosigner’s) credit score and income, along with other factors.

While qualifying borrowers could secure a competitive interest rate when applying for a private student loan, it’s important to note that federal student loans offer borrower protections that private student loans may not.

These include deferment and forbearance, income-driven repayment plans, and some loan forgiveness programs. Benefits like these mean that students should generally turn to federal loan options before considering private 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.

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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College can be one of life’s biggest investments. And, earning a degree or certificate is an important step forward down many career paths.

Many students work to cover expenses and gain on-the-job experience while furthering their education. Balancing the competing demands of coursework and a job, however, can be a challenge. For some learners, taking online classes while working is one way to fit school into an already packed schedule.

Online classes allow you to study virtually anywhere, not just colleges or trade schools located in your area. In addition, pre-recorded classes enable you to fit your coursework into evenings, weekends, or whenever your work schedule allows.

However, the quality of online programs can vary widely. And, getting a degree online may not allow you to make as many professional and personal connections as an in-person college experience.

Read on to learn more about taking online classes while also working full-time, including the pros and cons, and strategies for juggling the demands of schooling alongside holding down a job.

Pros of Taking Online Classes

Given the time and financial investment that earning a degree can require, it can be helpful to weigh different schooling options before deciding whether to pursue an in-person education, online classes, or some hybrid of the two. Online classes can have some distinct advantages.

Here’s a look at some potential pros of working towards a degree or certificate online.

Having a Flexible Schedule

Traditionally, college and graduate school courses meet once or multiple times per week throughout a semester or summer/winter session. The length of class time varies too. For example, large lectures may only span one hour, while once-per-week seminars could run for two or three hours.

If you’re taking a full-time course load, which usually constitutes a minimum of twelve credit hours, you’ll have to coordinate these blocked-out class hours around your existing work schedule.

As a result, in-person learning (where students are expected to be in class at a set time each week) is not always feasible if you plan to work and study at the same time.

If you work full-time, online classes can come with added flexibility. After all, online courses are often facilitated through pre-recorded lectures, streaming video tutorials, self-guided activities, and reading that can be done on a student’s timeframe.

In some cases, online classes do still include a certain number of live lectures or learning activities (typically hosted via streaming video) that enrolled students are expected to attend.

In those scenarios, you might need to arrange your work schedule so you’re not on the job during the times when live online classes convene.

Naturely, most online classes still assign homework, so you’ll also need to consider when you’ll fit in independent reading, projects, and studying. However, online degree programs and classes often offer a higher level of scheduling flexibility, allowing you to “attend class” and study at times when you’re not working.

Maintaining Location Independence

There are thousands of colleges and universities across the United States, but probably only a handful near your home or place of work. While taking classes as a commuter student might be logistically possible, sticking to programs hosted by local universities can limit your choice of faculty and subject areas.

Additionally, it’s possible that local options aren’t the top-ranked in a given field — and might not even offer specific degrees or pre-professional certificates.

On the flip side, the only location required for taking online classes while working full-time is a reliable internet connection and a comfortable study space. Online classes also save time traveling to and fro a campus, giving you more time to juggle post-secondary studies alongside your regular job.

Possibly Lower Living Expenses

Tuition is only part of the equation when calculating the total cost of attending college. Some universities may require students to live on campus for one or more years, which could carry dining hall and other fees (in addition to the base cost of living in a dorm).

Students attending four-year public universities can expect room and board to run, on average, $11,520 a year, according to the Education Data Initiative. Opting for an online degree program can help bypass some of these additional expenses.


💡 Quick Tip: Private student loans offer fixed or variable interest rates. So you can get a loan that fits your budget.

Cons of Taking Online Classes

In addition to online learning’s merits, there are some potential cons to think through when evaluating taking online classes while working full time.

Not Every Degree or Major is Available

Colleges across the U.S. offer a wide array of majors and types of degrees. Online programs, on the other hand, tend to be more limited. So whether or not you can take online classes while working will depend, in part, on your chosen field of study.

For online bachelor’s degree programs, majors focused on business and health professions are among the most commonly available. Students interested in earning a master’s degree online in business or healthcare are in luck as well. There are also opportunities to enroll in graduate programs in education, engineering, criminal justice, and various social sciences entirely online.

Other majors and degrees, especially those that require in-person lab time or hands-on apprenticeship, such as culinary arts or chemistry, might not translate as well to an online format.

Recommended: Return on Education for Bachelor’s Degrees

Limited Networking Opportunities

Attending college in person can provide opportunities to make friends and build relationships with professors. Building a deep social and professional network while in school can help you find internships and jobs after school ends.

Taking online classes, however, can make it more challenging to connect with professors and fellow students. That being said, it’s still possible to make a strong impression on professors and peers through course assignments, presentations (whether individual or group), and written correspondences.

If you are planning on taking online classes while also working full-time in the same field (e.g., a nurse or a teacher studying for an extra certification in those professions), this potential networking disadvantage may be less of a concern — since you can still connect with fellow professionals on the job.

Strategies for Taking Online Classes

Whether you just graduated high school or are returning to the classroom after years of working, being prepared can help you get the most from your online classes — and, ideally, help to create a healthier work-life balance. Here are some key ways to prep for working full time and going to college.

Making a Schedule and Sticking to It

The flexibility of online classes can feel liberating, but those readings, online discussions, and assignments still need to be completed. Keeping your work schedule in mind, it can be helpful to block out some non-work hours during the week or weekend just for studying and school assignments.

It may also be helpful to think about when to get school work done. If you’re not a morning person, it’s likely you won’t be cracking the textbooks at sunrise. If you find out that your present work-school schedule is hard to sustain over time, it’s perfectly okay to go back to the drawing board.

The important thing is to find a time-management system that works for the duration of the time you’re both working and studying full time.

Starting Small

Even if you feel confident and excited about returning to the classroom (virtual ones count, too), taking online classes while working full time may be a big adjustment.

Some online degree programs allow you to enroll as a part-time student, which can be a “trial-run” opportunity — allowing you to understand how demanding juggling school and studies can be (before paying full tuition).

Understanding how much time each online class will demand can help you to be realistic about how many classes you can take each semester without burning out.

Setting Goals and Rewarding Progress

Creating achievable goals at the beginning of each class or semester is one way to stay on track, grow as a student, and measure success. Attaching a reward to these periodic goals can help many learners to stay driven and engaged.

Whether you passed your first online class, completed a big group project, or got a key certification, you deserve to celebrate achieving your educational accomplishments.


💡 Quick Tip: Would-be borrowers will want to understand the different types of student loans that are available: private student loans, federal Direct Subsidized and Unsubsidized loans, Direct PLUS loans, and more.

Paying for Online Classes

For some students, the cost of online education (after subtracting dorms, dining plans, and transportation) can be an additional determining factor. The individual cost of online degrees and certificates will vary significantly from school to school — including price differences between public and private university programs.

In some cases, online-only programs may cost less for enrolled students. In others, online classes are priced similar to their in-person counterparts.

Whether you opt to work and go to college at the same time, how to pay for college is likely a big question. Making a plan for financing your education is one step in figuring out how to take online classes while working full time.

Completing the Federal Application for Federal Student Aid (FAFSA) can help you determine how much federal student aid (such as grants, scholarships, and federal loans) you are eligible to receive. You can also explore scholarship opportunities through universities, nonprofit organizations, and private foundations for additional funding.

Many students also borrow money through private loans to pay for advancing their education. These are available through banks, credit unions, and online lenders and often may come with flexible repayment plans, allowing you to find a loan that fits your budget and financial plan. (It’s worth noting that federal student loans come with baked-in benefits, like income-driven repayment or public service loan forgiveness, that are not guaranteed by private lenders).

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.

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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Money and your psyche can be deeply intertwined, and that’s where financial therapy can play a role. Financial therapy merges the emotional support of a psychotherapist with the money insights of a financial planner.

Working with a financial therapist can help clients begin to process their underlying feelings about money while optimizing behaviors related to their cash. This can minimize stress and anxiety, while honing plans for earning, spending, and saving more effectively.

Financial therapists can also assist couples in overcoming differences in their money habits and their approaches to cash management. The result? Possibly resolving and lessening money fights while building teamwork.

Read on to learn if this kind of professional counseling could help you, and, if that’s the case, what to expect from financial therapy and where to find a qualified professional.

What Is Financial Therapy?

A basic financial therapy definition is that it’s a practice that combines behavioral therapy with financial coaching. The goal is to help improve an individual’s feelings and behavior around money.

A certified financial therapist (or financial psychologist) can assist with issues such as money stress, overspending, or concerns about debt. But this differs from, say, a financial advisor who is helping you maximize your gain on investments or plan for your child’s future college expenses.

It also differs from financial coaching, which helps establish good money habits. Financial therapy can go deeper psychologically speaking. It can help a person work through childhood trauma related to money as well as money-related disorders.

How Financial Therapy Works

According to the Financial Therapy Association (FTA) , financial therapy is a process informed by both therapeutic and financial expertise that helps people think, feel, and behave differently with money to improve overall well-being.

The profession sprang out of increasing evidence that money can be intrinsically tied to our hopes, frustrations, and fears, and also have a significant impact on our mental health.

What’s more, money can also have a major impact on our relationships. Indeed, research has shown that fighting about money is one of the top causes of conflict among couples.

And, while it might seem like bad habits and money arguments are things you can simply resolve on your own, the reality is that it’s often not that simple. That’s where financial therapy can help.

•   Many financial roadblocks, such as chronic overspending or constantly worrying about money, often aren’t exclusively financial. In many cases, psychological, relational, and behavioral issues are also at play.

•   Financial therapy can help patients recognize problematic behaviors, such as compulsive or impulsive shopping. It also aims to help people understand how various relationships and experiences may have led them to develop those behaviors as coping mechanisms or to form unrealistic or unhealthy beliefs.

•   Along with offering practical financial advice, a financial therapist can reduce the feelings of shame, anxiety, and fear related to money. It can help people who are struggling to recommit to money goals.

The reasons why financial therapy can help are the same as why traditional psychological therapy can help: It can lead people to understand that they can do something to improve their situation. That, in turn, can instigate changes and healthier behaviors.

Like conventional therapy, the number of sessions needed will vary, depending on the situation. A financial therapy relationship can last from a few months to longer.

Generally, a financial therapist’s work is “done” when you feel your finances are orderly and you have the skills to keep them that way in the future.

Recommended: Tips for Recovering from Money Addiction

Financial Therapists vs. Financial Advisors

Financial advisors are professionals who help manage your money.

They are typically well-informed about their clients’ specific situations and can help with any number of money-related tasks, such as managing investments, brokering the purchase of stocks and funds, or creating a retirement plan.

However, psychological therapy is not why financial advisors are hired, nor is it their area of expertise.

If a person requires real emotional support or needs help breaking bad money habits, a licensed mental health professional, such as a financial therapist, should likely be involved.

A certified financial therapist (someone trained by the FTA) can work with you specifically on the emotional aspects of your relationship with money and provide support that gets to the root of deeper issues.

Due to the interdisciplinary nature of financial therapy, professionals who enroll in FTA education and certification include psychologists, marriage and family therapists, social workers, financial planners, accountants, counselors, and coaches. Some experts recommend being sure that the professional you work with is first and foremost a licensed therapist with a deep understanding of psychology.

Financial Therapy vs. Other Therapy

If you are having issues related to money (say, losing sleep due to anxiety or arguing with your partner about spending), you might think almost any mental health professional could help.

A financial therapist, however, can be your best bet in this situation. These professionals have special training and expertise related to how money can impact a person’s emotional wellness.

They also are also trained in techniques to help clients overcome issues related to money. In other words, they are laser-focused on the kind of emotional responses and problematic habits that crop up around money.

Do You Need a Financial Therapist?

If you’re considering whether a financial therapist could help you, you may want to think about your general relationship to money.

If you feel you have anxiety about money, or unhealthy behaviors and feelings when it comes to spending, budgeting, saving, or investing, you might benefit from exploring financial therapy.

Often, unhealthy saving, spending, or working habits are a symptom of other negative habits related to mental health (feelings of low self-worth, for instance).

Keep in mind that it’s possible to have an unhealthy relationship with money even if your finances are good on paper.

Top 4 Reasons People Seek Financial Therapists

Here’s a more specific look at why a person might benefit from financial therapy.

1. Avoiding Money Management

Some people hide from their finances. They don’t budget, don’t know exactly how much they earn, pay bills late (or not at all). Working with a financial therapist could expose the root of this behavior and improve financial management.

2. Money Stress

Many people have anxiety around their money. This could involve worrying about how they will pay off their debt to worrying about going bankrupt, even though they are earning a good salary. Others may feel guilty about spending money or carry a lot of trauma about money from their childhood. A financial therapist can work to explore and resolve these emotions.

3. Fighting About Finances

If you often argue with your partner, friends, or other loved ones about money, you might find that a financial therapist can help you defuse this source of tension. It can help couples deal with what’s known as financial infidelity.

4. Poor Money Habits

Do you tend to “shop til you drop” when bored? Have you spent or gambled away your emergency fund? Do you overwork yourself in an effort to accumulate wealth? Do you tend to hop from one “get rich quick” scheme to another? A financial therapist could help you break these habits and develop new, beneficial ones.

These are some of the scenarios that a financial therapist could help you with.

Finding a Financial Therapist

Like choosing any therapist, you often need to shop around a bit to find the right fit—someone you feel you can relate to, trust, and you also feel understands you.

For those who may not have access to a financial therapy professional in their backyard, many offer services via video conferencing.

You can start your search with the Find A Financial Therapist tool on the FTA website, which features members and lists their credentials and specialties.

Your accountant or financial counselor might also be a good source of referrals.

As with choosing any other financial expert or mental health professional, it’s a good idea to speak with a few potential candidates. In your initial conversations with candidates, you may want to discuss the therapist’s training and specific area of expertise, as well as your needs and situation. This can help you assess how good a match they are.

It can also be a good idea to ask how long they have been providing financial therapy services, what their fees are, as well as if some or all of the fee may be covered by your medical insurance.

The Takeaway

Financial therapy merges financial with emotional support to help people deal with and improve stress, decision-making, and habit-forming related to money.

If you frequently feel stressed and/or overwhelmed when you think about money (or you simply avoid thinking about money as much as possible), you might be able to benefit from at least a few sessions of financial therapy.

While it might seem like hiring a financial therapist is another expense that could complicate an already difficult financial situation, it might be better to view it as an investment in your emotional and financial wellness, one that could help you build financial stability and wealth in the future. It can be an important facet of your overall money management.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with 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.

What does a financial therapist do?

A financial therapist combines expertise in psychology and finances to help people improve their attitudes toward money and their habits relating to money. They can help individuals manage such issues as money anxiety, overspending, and financial infidelity.

Is financial therapy the same as financial planning?

Financial therapy and financial planning are not the same thing. Financial therapy can help a person improve their attitude toward money and their behaviors related to money. Financial planning is focused on budgeting, debt management, and growth of wealth.

Can therapy help with finances?

Therapy can help with finances. You might have stress related to money due to childhood trauma centered on finances. Or you might be compulsively overspending or ignoring your money due to emotions about such matters. Financial therapy could help you work through these and other issues.

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