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Have you just received a salary offer and now wonder, “Is $75K a good salary for a single person?”

In many cases, that salary can offer a comfortable lifestyle and plenty of opportunities to save. But if you live in an expensive area or have a lot of debt, you may find that living on $75,000 a year requires more careful planning and budgeting.

Let’s take a closer look.

Is $75K a Year a Good Salary?

If you make $75,000 a year, you’re earning more than half of all workers in the U.S. And in fact, many people would probably consider the salary as good pay.

After all, a $75,000 salary works out to around $6,250 per month, $1,442.31 per week, or $36.06 an hour. This may easily cover your expenses — depending on your situation. If you live in a high-cost area, you may find that you’d be more comfortable earning more.

Need help monitoring where your money is going each month? Online tools like a money tracker can help.

Median Household Income in the US by State

When we talk about median household income, we’re referring to an income level that half of households earn more than and half earn less. As of 2022 — the most recent data available from the U.S. Census Bureau — the median annual salary in the U.S. is $74,580. Individuals may make more or less depending on where they live, their age, the type of work they do, and other factors. Here’s a look at the median household annual income in every state:

State	Median Household Income
Alabama	$59,910
Alaska	$89,740
Arizona	$73,450
Arkansas	$53,980
California	$85,300
Colorado	$89,930
Connecticut	$90,730
Delaware	$80,750
Florida	$65,370
Georgia	$67,730
Hawaii	$91,010
Idaho	$72,580
Illinois	$78,020
Indiana	$70,030
Iowa	$76,320
Kansas	$73,040
Kentucky	$55,880
Louisiana	$58,330
Maine	$75,160
Maryland	$108,200
Massachusetts	$93,550
Michigan	$68,990
Minnesota	$90,390
Mississippi	$48,610
Missouri	$71,520
Montana	$72,980
Nebraska	$78,360
Nevada	$72,330
New Hampshire	$84,970
New Jersey	$92,340
New Mexico	$56,420
New York	$75,910
North Carolina	$65,070
North Dakota	$78,720
Ohio	$67,520
Oklahoma	$63,440
Oregon	$86,780
Pennsylvania	$72,210
Rhode Island	$80,650
South Carolina	$61,770
South Dakota	$67,180
Tennessee	$65,380
Texas	$74,640
Utah	$95,800
Vermont	$72,190
Virginia	$85,170
Washington	$89,430
West Virginia	$52,460
Wisconsin	$73,330
Wyoming	$73,090

Related: Average US Salary by State

Average Cost of Living in the US by State in 2024

The cost of living is the amount of money needed to cover basic living expenses, such as housing, food, taxes, and health care. Here’s what you need to know about the average cost of living in the U.S. by state:

State	Average Cost of Living
Alabama	$39,657
Alaska	$54,331
Arizona	$44,875
Arkansas	$39,044
California	$53,082
Colorado	$53,374
Connecticut	$55,803
Delaware	$51,113
Florida	$50,689
Georgia	$43,482
Hawaii	$49,155
Idaho	$39,739
Illinois	$49,558
Indiana	$42,697
Iowa	$41,758
Kansas	$43,147
Kentucky	$40,816
Louisiana	$42,294
Maine	$50,559
Maryland	$48,650
Massachusetts	$58,532
Michigan	$45,591
Minnesota	$48,615
Mississippi	$36,445
Missouri	$44,990
Montana	$47,887
Nebraska	$46,190
Nevada	$44,831
New Hampshire	$56,727
New Jersey	$54,700
New Mexico	$40,028
New York	$53,255
North Carolina	$43,959
North Dakota	$48,182
Ohio	$44,089
Oklahoma	$38,650
Oregon	$47,779
Pennsylvania	$49,040
Rhode Island	$46,909
South Carolina	$43,305
South Dakota	$47,740
Tennessee	$42,469
Texas	$45,114
Utah	$42,653
Vermont	$50,761
Virginia	$48,249
Washington	n/a
West Virginia	$41,153
Wisconsin	$45,165
Wyoming	$47,832

Source: Bureau of Economic Analysis

Can You Live on $75K a Year?

While there’s an average pay in the U.S., there’s no one-size-fits-all salary needed for a single person to live comfortably. As the charts above show, $75,000 can go further in some areas than others. Regardless of what you make, it helps to understand how much money you’re taking home — and how much you’re spending — each month. Creating a budget and tracking all of your expenses can make it easier to keep tabs on your finances.

How Can You Budget for a $75K Salary?

There is no shortage of options when it comes to creating a budget. One of the most popular methods is the 50/30/20 budget. Essentially, this approach involves allocating:

•   50% of your after-tax dollars to necessities, including groceries, housing, utilities, transportation, insurance, child care expenses, minimum debt payments, and more.

•   30% to “wants,” such as going out to eat, gifts, travel, and entertainment.

•   20% on savings and additional debt payments (beyond the minimum payments).

Prefer something more straightforward? Consider a line-item budget, where you keep track of monthly expenditures so they don’t exceed spending targets. Another option: using an online budget planner to keep finances organized.

How Can You Maximize a $75K Salary?

Budgeting, putting every dollar you can into savings, and paying off debt can all help you get the most out of every paycheck. But those aren’t the only ways to maximize a $75,000 salary.

One strategy is to enroll in your company’s 401(k) plan. Some employers even offer matching contributions, meaning they’ll mirror your contribution to your retirement, often up to a certain percentage.

Another avenue to explore? Setting up autopay for recurring bills, which helps prevent missed payments and late fees. While you’re at it, you may also want to automate your savings so you don’t have to remember to move money between your accounts on payday.

What Kind of Quality of Life Can You Have With a $75K Salary?

Can you have a good quality of life with an annual salary of $75,000? For many people, the answer is yes. With that kind of income, you may find it easier to make ends meet and make progress toward your financial goals. But keep in mind that “quality of life” is subjective, and the amount needed to live comfortably can vary from person to person.

Recommended: 25 Highest-Paying Jobs in the U.S.

Is $75,000 a Year Considered Rich?

It depends on who you ask. A 2023 Bankrate survey showed that Americans do not feel rich with a salary of $75,000. Rather, respondents said they’d need to earn an average of $233,000 per year to feel financially secure and $483,000 per year to feel rich.

That said, a $75,000 salary can feel like a fortune to one person but not to the next. Whether you feel financially secure with that salary may also depend on your living expenses, whether you live within or below your means, and other factors.

Is $75K a Year Considered Middle Class?

There’s no single definition of “middle class.” According to the Pew Research Center, middle class households have an income that’s between two-thirds and twice the U.S. median household income of $70,784. (A $75,000 salary falls easily within this range.)

A 2023 Washington Post poll reported that Americans consider a $75,000 to $100,000 salary range as middle class. Respondents said being middle class involved such things as:

•   Having a secure job

•   Having health insurance

•   Ability to save money for the future

•   Affording an emergency $1,000 bill without incurring debt

•   Ability to pay all bills on time

•   Ability to retire comfortably

Recommended: What Is a Six-Figure Salary?

Examples of Jobs That Pay $75,000 a Year

There are plenty of jobs that pay $75,000 per year, and some don’t require a degree. Let’s take a look at examples of positions that typically pay $75,000 or more.

•   Network administrator: Network administrators manage technical systems and networks.

•   Broker: Brokers mediate sales processes, particularly in real estate.

•   Quality assurance manager: Quality assurance managers establish quality standards, resolve concerns, and identify system and procedural needs.

•   Junior software engineer: A junior software engineer assists in developing and deploying computer software.

•   Dental hygienist: Dental hygienists perform cleanings, inspect teeth and gums, and educate patients on oral health.

•   Radiation therapist: Radiation therapists run machinery, perform X-rays, counsel patients, and more.

•   Clinical nurse: Clinical nurses work with patients and medications, and manage medical records.

The Takeaway

Is $75,000 a year a good salary for an individual in 2024? How about as an entry-level salary? In general, yes. A $75k salary is more than what half of U.S. workers earn, and depending on where you live and your expenses, may be more than enough to live comfortably.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

See exactly how your money comes and goes at a glance.

FAQ

Can I live comfortably making $75k a year?

Depending on your expenses, you should be able to comfortably make a $75,000 salary work in many areas of the country.

What can I afford with a $75k salary?

Many lenders use the 28/36 rule to help borrowers understand how much to use to repay a mortgage and other debts. Experts suggest spending no more than 28% of your income on housing expenses and no more than 36% on total debt payments. Consider using this rule as you make decisions about how large of a house to purchase or how much debt you’re willing to take on.

How much is $75k a year hourly?

A salary of $75,000 works out to $36.06 hourly.

How much is $75k a year monthly?

A salary of $75,000 is $6,250 per month.

How much is $75k a year daily?

A salary of $75,000 works out to $288.46 daily.

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Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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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Between 2000 and 2021, the average published tuition and fees increased from the following amounts, after adjusting for inflation, according to Best Colleges:

•   $2,146 to $3,564 at public two-year schools

•   $5,638 to $9,596 at public four-year schools

•   $25,468 to $37,222 at private nonprofit four-year institutions

This article will cover the average cost of college tuition and fees in 2024, the increase in college tuition costs, the reasons for the rise of average college tuition, and college tuition options you may want to consider for yourself.

Average Cost of College in 2023-24

In 2023-24, the average published price for tuition and fees for full-time undergraduate students were as follows, according to the College Board’s Trends in College Pricing and Student Aid:

•   $11,260 for public four-year in-state institutions, $270 higher than in 2022-2023

•   $29,150 for public four-year out-of-state institutions, $850 higher than in 2022-2023

•   $3,990 for public two-year in-district institutions (including average community college tuition), $100 higher than in 2022-2023

•   $41,540 for private nonprofit four-year institutions, $1,600 higher than in 2022-2023

Recommended: Average Cost of College Tuition

Increase in College Tuition Cost Over the Last 10 Years

Generally speaking, tuition has increased in the past decade. According to data from the College Board, the average published tuition price at a four-year nonprofit university during the 2013-2014 school year was $30,094, while in 2023-2024 that number jumped to $41,540.

Reasons for the Rise of Average College Tuition

The rise of college tuition over the past few decades can be attributed to several key factors, including:

Reduced State Funding

One of the primary reasons for rising tuition costs, especially at public institutions, is the decline in state funding for higher education. As states allocate less money to colleges and universities, these institutions often compensate by increasing tuition to cover budget shortfalls.

Increased Administrative Costs

Colleges have expanded administrative staff and services, including student support, campus amenities, and compliance with federal regulations. This growth in administrative functions adds to overall expenses, which are often passed on to students in the form of higher tuition.

Expansion of Campus Facilities

Many colleges invest in new buildings, state-of-the-art facilities, and upgraded dormitories to attract prospective students and remain competitive. These capital expenditures are expensive and often lead to increased tuition to help finance the construction and maintenance of these facilities.

Rising Faculty Salaries and Benefits

The cost of faculty salaries and benefits, including health care and retirement plans, has risen steadily. As colleges strive to attract and retain top talent, these increased personnel costs contribute to higher tuition.

Student Demand for More Services

There is a growing demand from students for more comprehensive services, such as mental health counseling, career advising, and extracurricular activities. Providing these additional services requires funding, which often results in tuition hikes to cover these enhanced offerings.

Together, these factors create a complex landscape where college tuition continues to rise, making affordability a significant concern for many students and families.

Recommended: How to Pay for College

Total Cost of College Over Time

While the cost of tuition has increased over the years, the prices of room and board, books, school supplies, and other necessities have also risen. The cost of room and board has almost doubled since the 1960s, going from $6,700 to more than $12,000, according to Best Colleges.

On Campus vs. Off Campus

How much you spend on college will vary depending on whether you live at home, on campus, or off campus. The College Board found that the cost of living on campus has increased slightly faster than the cost of living off campus, such as in an apartment or house with friends.

Total Cost of College Over Time by School Type

Of course, the type of school you attend (public or private) will also affect the total cost of attendance. Over the last nearly 60 years, the average cost across all institutions has increased 135%. It increased the most at private institutions at 187% and the least at two-year colleges, at 69%.

College Financing Options

Numerous college financing options exist for students. Students can tap into various options to pay for costs. Undergraduate students received an average of $15,480 of financial aid 2022-2023, according to the College Board’s Trends in College Pricing and Student Aid.

Students may rely on scholarships, grants, work-study, and student loans, in addition to personal savings to pay for their education.

Scholarships

Scholarships refer to money received from colleges or other organizations that students don’t have to pay back. Only about 7% of students receive scholarships, with the average student who receives one getting $14,890 annually at a four-year institution.

Student Loans

Students can take advantage of federal or private loans. Federal loans are provided by the U.S. Department of Education. To apply for a federal student loan, students need to fill out the Free Application for Federal Student Aid (FAFSA®) each year.

Private student loans are provided by banks, credit unions, and other financial institutions. These are separate from any sort of federal aid, and as a result, lack the protections afforded to federal student loans — like income-driven repayment options or the ability to apply for Public Service Loan Forgiveness. For this reason, private student loans are generally considered by students only after they have reviewed and exhausted all other options for financing.

Recommended: How to Complete the FAFSA Step by Step

Grants

Students can tap into federal, state, or institutional grants. Grants can also come from employers or private sources. Like scholarships, grants typically do not need to be repaid. They are mostly awarded based on financial need, and students will generally need to complete the FAFSA to qualify for them.

Work-Study

Students can get a work-study award, which is money they must earn when they attend college. They must file the FAFSA in order to qualify for work-study and must work a job on campus to receive the money.

Personal Savings

According to Sallie Mae’s annual How America Pays for College 2024 report, 37% of students receive help from their parents to pay for college, and 11% use their own income and savings. Strategies for parents paying for college include things like setting up an account designed to help parents save for college or other educational expenses, putting work bonuses or tax refunds into savings, and setting aside funds each month to put toward college.

The Takeaway

The average college tuition continues to increase. In 2000, the college tuition at a private four-year institution was $15,470, and now in 2024 it’s $38,421. There are a number of reasons for increasing tuition rates, including factors like a decrease in state funding, lack of regulation, and an increase in operating costs at colleges and universities.

Many students rely on financial aid to pay for college. Financial aid includes federal student loans, certain grants and scholarships, and work-study programs.

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.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

How much has college tuition increased since 2000?

Since 2000, college tuition has significantly increased, jumping about 65% between 2000 and 2021. This surge reflects growing education costs, which have outpaced inflation and wage growth, making higher education increasingly expensive and contributing to the student loan debt crisis faced by many graduates.

How much has the total cost of college increased over the last decade?

Over the last decade, the total cost of college, including tuition, fees, room, and board, has increased by about 10% at public institutions and around 19% at private institutions. This rise reflects growing expenses in education and living costs, making college significantly more expensive for students and families.

How much has college tuition increased in 2024?

In 2024, college tuition increased by 1.6% over the last 12 months. However, this number will vary depending on the institution and whether it is public or private. These increases are consistent with the ongoing trend of rising education costs, impacting students’ financial planning and contributing to higher student loan borrowing.

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

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

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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.

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.

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When students take a gap year, they typically take a semester or year off between high school and college in order to take advantage of experiential learning. While extraordinary opportunities may be awaiting you, you may struggle to think of ways to pay for the experience.

If that’s the case, there are options that may help you pay for your gap year — beyond funding the costs out of pocket. Continue reading for more information on options you may want to consider should you find yourself in need of help funding your non-classroom experience.

Gap Year, Explained

First of all, what is a gap year and why do people take them?

Students may choose to take a semester or year off with the goal of getting a break from academics and prior to diving into postsecondary education. Students may choose to complete an internship, travel, study on their own, volunteer, or pursue other interests. Some students choose to pursue a gap year with the intention of discovering what it is that they want to major in or the career path they’d like to pursue.

Many students report a developed self- and cultural awareness, increased independence, and confidence after taking a gap year.

Students may choose to apply to colleges and universities during their senior year (and let colleges know of their plans to take a gap year), during their gap year or after they’ve completed their gap year. Waiting until later often gives them the advantage of being able to report on what they’ve learned during their time away from academics.

In some instances, a gap year may also be something for a student to do after college or in-between college and post-graduate study.

Planning Out Your Gap Year

It’s important to plan out your gap year ahead of time so you have a plan for how you’ll spend your time. It can be easy to waste time when you break from a traditional schedule. Having a plan ensures that you’ll have a better chance of achieving your goals — you might even curb expenses as well.

It may be helpful to break your plan down into measurable goals. For example, if you plan to travel, write down where you’d like to be on specific dates so you don’t miss any of your intended milestones. It’s also a good idea to budget for your gap year ahead of time so you know how much it will cost and the amount you’ll need per week or month to live on.

Options for Financing Your Gap Year

You can always finance your gap year with cash you or your parents have saved or with money from a well-meaning grandparent. However, not everyone has cash bankrolling their gap year. Let’s take a look at a few ways you may want to consider financing your gap year.

Gap Year Scholarship or Grant

A private entity may offer you a gap year grant or scholarship. A scholarship is free money that you don’t have to pay back that can come from a wide variety of entities, including clubs, organizations, foundations, charities, businesses, the government and individuals. It’s possible to find scholarships specifically for gap years, particularly for students who want to volunteer, improve certain skills, volunteer, develop a talent, or complete another type of experiential learning.

Grants are also a form of financial aid that doesn’t have to be repaid. Grants may also help you fund your gap year without having to repay the money. However, it’s important to check into the fine print on both college grants and scholarships to ensure that you fit the criteria. (Some scholarships and grants require you to get college credit in order to qualify.)

529 Account or College Savings

If you or your parents have college savings set aside in a brokerage account, savings or checking account, or a certificate of deposit (CD), you may want to use this money to pay for gap year expenses.

A 529 plan is an investment account that offers investment opportunities and tax advantages when used to pay for qualified education expenses. You may take withdrawals from a 529 plan to pay for qualified educational expenses for tuition, room, board, fees, books, equipment for classes, and other supplies at an accredited institution. If you meet these requirements, you won’t pay federal income tax.

However, if you spend the money on an expense that doesn’t qualify as a higher education cost (such as your plane ticket to go overseas). Be careful when using your 529 savings unless you’re attending a specific program through an accredited institution.

Find a Paid Internship or Part-Time Job

Obtaining a paid internship or part-time job can help you float some or all of the expenses of a gap year. For example, if you plan to spend your year volunteering at soup kitchens throughout a major city, a part-time job may help you pay for transportation to get there and also other living expenses. On the other hand, if you intend to use your gap year to gain work experience to discover your career goals, a paid internship may help you take care of all of your living expenses.

Recommended: Jobs to Help Pay for School Expenses

Apply for Financial Aid

Financial aid can refer to a wide range of types of money to pay for credits at college or career school.

Some gap year programs offer college credit, so you may be able to apply for federal financial aid using the Free Application for Federal Student Aid (FAFSA®). The FAFSA can give you access to grants, federal student loans, and other opportunities.

While you may have never had any intention of taking college credit during a gap year (you may feel that it defeats the purpose of a gap year!) but taking a college-credit class or two as part of your experience or doing a credit-based gap year program may help cover some of your costs.

Personal Loans

Taking out a personal loan involves borrowing money from a bank, online lender, or credit union that you repay in fixed installments. Personal loans are not backed by collateral, which also means they are called unsecured loans. (Secured loans, on the other hand, are backed by collateral, such as a house.) Personal loans often carry higher interest rates than some other types of loans. It may be difficult for someone to get a personal loan without a cosigner if they don’t have a long history of building credit.

It’s a good idea to be careful about taking out a personal loan due to these higher interest rates and having to bring a cosigner on board. That cosigner could end up paying for your loan if you default on the loan and ultimately, it could affect both of your credit scores.

Using Private Student Loans to Finance Gap Year

Private student loans are student loans that come from a bank, credit union, or other private lender. You probably cannot use private student loans to finance your time off from school if you plan to backpack across Europe, but if you do take a few classes as part of a gap year program, you may be able to use private loans to cover your costs. Check with lenders about their requirements before you apply and whether or not a particular program will qualify.

The Takeaway

A gap year can help “gappers” explore career goals, develop confidence, volunteer, and more. If you’re thinking carefully about a gap year, you also might be worried about the cost of taking that time off. Consider putting together a list of costs, goals, and plans so you can make sure that your gap year goes off without a hitch. From there, you can start planning how you’ll cover your expenses during your time away from the classroom.

Finally, don’t forget that you can always put together a combination of sources of funding. For example, you can pay for your gap year with a combination of scholarships, money saved, and internship money.

3 Student Loan Tips

1. Need a private student loan to cover your school bills? Because approval for a private student loan is based on creditworthiness, a cosigner may help a student get loan approval and a lower rate.
2. 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.
3. It’s a good idea to understand the pros and cons of private student loans and federal student loans before committing to them.

SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no fees.

FAQ

How much should I budget for a gap year?

The amount you should budget for a gap year depends on your personal circumstances. It also depends on what you plan to do. Living at home with your parents and volunteering in your community will likely cost less than hopping on a plane and spending a year abroad. No matter what your plan, it’s best to get an estimate of your expenses ahead of time and then use that as a basis for your budget throughout your gap year.

How can I get funding for a gap year?

There are many ways to get funding for a gap year. Depending on your situation and circumstances, you may consider tapping into scholarships, grants, a 529 account, college savings, through a paid internship or part-time job, financial aid, personal loans or private student loans. There’s no single way to fund your gap year, and you may also want to consider a combination of different sources to pay for it.

How long should a gap year be?

A gap year can be any length of time, but they typically last between two weeks and one year.

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

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

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

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

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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As a student, you must submit a new Federal Application for Student Aid (FAFSA) each school year to learn the types of federal aid you qualify for, including federal student loans, grants, and work-study programs. Many colleges and states, as well as other student aid programs, use your FAFSA to determine what aid you may be eligible for. So the FAFSA is worth submitting even if you’re not expecting to receive federal aid.

The FAFSA for the 2025-2026 academic year opened on November 21, 2024, and it closes on June 30, 2026. However, it’s best to complete the form as soon as possible since some state and school scholarship programs have different deadlines.

Keep reading for detailed instructions on how to complete the 2025-2026 FAFSA. We’ll walk you through the required fields and highlight changes from previous forms.

Documents You’ll Need

Before you sit down to fill out the online FAFSA application , it’s best to have the following documents or information handy, especially if you want to fill out the FAFSA as quickly as possible. Documents needed include:

•   Completed tax returns

•   Parents’ SSNs if you’re a dependent student

•   Child support records, if applicable

•   Current cash, savings, and checking account balances

•   Investment, business, or farm net worth

Recommended: Who Qualifies for FAFSA? FAFSA Requirements

How to Fill Out the FAFSA in 6 Steps

Ready to file the FAFSA? First, check your watch.

Make sure you have enough time to fill out the form. Most people find that it takes less than one hour to complete, including gathering the personal and financial information you need.

Here’s how to fill out the FAFSA step by step.

Step 1: Create an Account

The preferred way to complete the FAFSA is online. You can do this for free — you should never pay any site to file the FAFSA for you.

Create a StudentAid.gov account before you start the FAFSA. Ensure that your name and Social Security number (SSN) look exactly as they do on your Social Security card.

The individuals who must include information on the form — a spouse, a biological or adoptive parent, or your parent’s spouse — must all have an FSA ID (account username and password). However, contributors without an SSN can create an account to fill out their portion of the 2025-2026 form.

A contributor is anyone required to provide information and approval to have their federal tax information transferred directly into the FAFSA form. This person, while not required to pay for a student’s college education, may include a student’s spouse, a biological or adoptive parent, or a stepparent.

Step 2: Provide Personal Information

After logging in, select either “student” or “parent,” depending on whether you are the student or parent filling out the form. We’ll assume that you’re filling it out as a dependent student for the next few steps.

What is a dependent student vs. independent student? Check out the full list of dependent vs. independent qualifications. Independent students will also answer the same basic set of questions and add spouse information if they are married.

You’ll start by filling out basic personal information, such as:

•   Name

•   Birthdate

•   SSN

•   Email address

•   Mobile phone number

•   Mailing address

Next, as a dependent student, you’ll indicate personal circumstances, such as marital status, college or career school plans, and any unusual personal circumstances.

You’ll answer questions about your parents and family size and “invite” your parents to fill out the FAFSA information. You’ll also answer questions about:

•   Gender identity (though you can select “prefer not to answer”)

•   Race and ethnicity (you can also select “prefer not to answer” here)

•   Citizenship status

•   Parent education status

•   Whether a parent was killed in the line of duty

•   Student’s high school completion status

•   High school information

•   Any federal benefits received

Step 3: Add Dependent Student Financials

Next, you’ll fill out information about your tax filing status, tax returns, and assets (including any cash, savings, and checking accounts you have, or businesses, investments, farms, and/or real estate).

Step 4: Select Colleges

In this section, select the colleges you’re considering. You can choose up to 20 colleges or universities where you want your FAFSA recognized. You can search based on city, state, or college name.

Step 5: Review Page and Add Signature

The review page shows the responses you’ve added to the FAFSA. You can review all responses by clicking “Expand All” or show each section individually. Select the question’s hyperlink to edit. Once you invite a parent to the form, you can see the status of the parent invitation.

Finally, you acknowledge the terms and conditions of the FAFSA form and sign, which means you’ve submitted your section of the FAFSA form. It’s not considered complete, however, until a parent signs their portion.

Step 6: Parents Add Information

Once a dependent student invites a parent and they log in, the parent will receive information about onboarding. They will add their:

•   Name

•   Birthdate

•   SSN (if they have one)

•   Email address

•   Mobile phone number

•   Mailing address

The parent must provide consent to transfer federal tax information directly from the IRS into the Parent Financials section.

The FAFSA form will also ask the parent about:

•   Demographic information

•   Marital status

•   State of legal residence

•   Finances

•   Federal benefits

•   Tax filing status

•   Family size

•   Number of kids in college in the household

•   Tax return information

•   Assets

Next, the FAFSA will prompt questions about that parent’s spouse or partner, walk through a review page similar to the student review page, and ask for a signature where the parent acknowledges the terms and conditions of the FAFSA form. Finally, the parent signs that section.

Can a parent fill out the entire form on a student’s behalf, without student consent or signature?

Yes. A parent can fill out the entire FAFSA on behalf of the student indicating from the very beginning that they are filling it out as a parent.

If You Need Additional Help Filling Out the FAFSA

If you need help filling out the FAFSA form, you can click on the white question mark icon next to each FAFSA question to reveal a tip on how to answer that question. You can also learn more about the recently updated form and get the answers to frequently asked questions at the FAFSA Help Center, watch the FAFSA tutorial video, or chat with Aidan, the virtual assistant.

In addition, you can contact the Federal Student Aid Information Center. The Department of Education says it has added more staff to address applicants’ questions, and expanded the hours to provide help.

You can also look at our FAFSA guide for information on the FAFSA process. Finally, you can get help through the financial aid office at the college or career/trade school you plan to attend. They will often walk through the form with you.

Recommended: Avoid These Common FAFSA Mistakes

What Happens After You Submit the FAFSA?

After you hit the “submit” button, your form should be processed in one to three days. At that point, you should receive a copy of your FAFSA submission summary, which summarizes the information you included on your FAFSA form. You can check the status of your FAFSA at any time by logging into your account at StudentAid.gov and clicking on your FAFSA submission in the “My Activity” section of your dashboard.

The FAFSA submission summary will also include your Student Aid Index (SAI), which lets schools determine the amount of aid you can receive. It also helps each school determine the financial aid you can receive from that particular institution. The financial aid office at each school will send you a financial aid award letter, which may include types of government aid such as:

•   Direct Subsidized Loans

•   Direct Unsubsidized Loans

•   Work-study

•   Pell Grants

•   TEACH Grants

•   Federal Supplemental Educational Opportunity Grants (FSEOG)

Recommended: How Financial Aid Works

Who Should Complete the FAFSA?

Anyone who could benefit from college financial aid has nothing to lose by filling out the FAFSA. Many students leave money on the table every year by failing to complete it, and low-income families are often less likely to complete the form than wealthier ones.

Even if you’re not eligible for federal aid, it’s worth your while to complete the FAFSA because most schools and states use FAFSA information to award non-federal aid. Non-federal aid includes scholarships, state aid, employee-sponsored aid, and more. Our scholarship tool can help you find scholarships and other aid opportunities that may be available.

To qualify for federal grants, work-study, and different types of student loans, you must be a U.S. citizen or an eligible noncitizen. You’ll need a valid SSN, with few exceptions, and a high school diploma, GED, or another recognized equivalent. You’ll also need to enroll in an eligible educational program and maintain satisfactory academic progress.

You may become ineligible for federal aid if you owe money on a previous federal student grant or are in default on a previous federal student loan.

Some types of federal aid are available only to people who demonstrate financial need. This includes the Federal Pell Grant and Direct Subsidized Loans. For the latter, the government pays the accrued interest while the borrower is in college or during most of their deferment periods.

What If I Don’t Qualify for Any or Enough Aid?

The amount of FAFSA money you receive depends on a variety of factors, including the institution you’re applying to, your assets, your parents’ assets, and more.

Merit aid, based on academic excellence, talent, and/or certain achievements, is also available. Some colleges won’t consider you for any of their merit scholarships until you’ve submitted the FAFSA, according to the Department of Education. Businesses, nonprofits, cultural organizations, and local groups also offer merit scholarships.

In addition, you can look into state grants and scholarships. Every state has its own money and process for distributing aid. Some only require a completed FAFSA; others, a separate application.

Then, there are private student loans, which are issued by banks, credit unions, and online lenders (as opposed to the government). Although private student loans don’t come with the benefits and protections that federal student loans have — like income-driven repayment plans and federal forbearance — they may help bridge funding gaps.

You can check to see what various lenders offer and what types of student loans you’d qualify for.

The Takeaway

Completing the FAFSA application doesn’t have to take hours of your time. In fact, it typically takes less than an hour to complete from start to finish. Use our guide to walk through how to fill out the FAFSA step by step in order to see how much federal aid you’ll qualify for and what types of aid you’re eligible to receive.

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. This can help you find an option that works for your financial plan and budget.

SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no fees.

FAQ

What’s the due date for the new FAFSA?

The FAFSA form for the 2025-2026 academic year must be submitted by 11:59pm central time (CT) on June 30, 2026. You can submit corrections or updates by 11:59pm CT on Sept. 13, 2026.

Can I fill out FAFSA myself?

Yes, students can complete the FAFSA on their own. The new FAFSA application instructions are easier to understand, and the Department of Education says it has modernized the FAFSA process and improved the user experience and functionality in filling out the online form. You can then invite your parents to enter their information.

How long does it take to fill out the FAFSA?

It typically takes less than an hour to fill out the FAFSA, including reading the FAFSA application instructions. However, it may take you longer to complete if you don’t gather important information ahead of time, such as your Social Security numbers and tax returns.

What disqualifies you from getting FAFSA?

To file the FAFSA, you must meet certain FAFSA requirements. For example, you must demonstrate financial need for need-based federal student aid programs, be a U.S. citizen or eligible noncitizen, have a valid SSN except in certain situations, be enrolled or accepted at an eligible institution as a regular student, maintain satisfactory academic progress, provide consent for federal tax information to go to the FAFSA, sign the certification statement on the FAFSA, and show you qualify to obtain higher education.

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

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

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

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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

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

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.

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A bachelor’s degree is an undergraduate degree that usually requires you to take 120 credit hours of courses, typically around 40 classes. When you pursue a bachelor’s degree, you can major in a wide variety of focus areas. There are several types of bachelor’s degrees, including Bachelor of Arts, Bachelor of Science, and Bachelor of Fine Arts degrees.

You may want to get a second bachelor’s degree due to a change in career, such as switching from teaching to engineering. Taking advantage of career opportunities, adapting to job changes, or getting credit for specific skills may also be reasons you dive in again.

But can you get financial aid for a second bachelor’s degree?

Yes, you can! Read on to learn more about how to get financial aid for a second bachelor’s degree and the type of financial aid you might want to pursue for your second go-round.

Is It Possible to Get Financial Aid for a Second Bachelor’s Degree?

Yes, it’s possible to receive financial aid for a second bachelor’s degree, which can include federal student aid like federal grants, work-study, and federal student loans. These types of federal student aid are how adult learners pay for college.

It’s important to note that you will be limited to a certain amount of financial aid in certain situations. For example, the aggregate federal student loan limit for dependent students (those claimed by their parent(s) on their parents’ taxes) is $31,000 and no more than $23,000 can be in Subsidized Student Loans.

Independent students (students who are at least 24 years old, married, veterans, members of the armed forces, who have their own legal dependents, who are homeless, and/or meet other qualifications) cannot borrow more than $57,500. No more than $23,000 of this amount may be in Subsidized Loans. In other words, if you’ve already borrowed the maximum amount for your first undergraduate degree, you could not borrow any more.

Certain grants also impose limits on what you can receive for a second bachelor’s degree.

Recommended: Can You Negotiate Financial Aid?

Can a Student Receive a Pell Grant for a Second College Degree?

A Pell Grant is a type of need-based federal grant. Grants are a type of aid that you don’t have to repay.

Generally speaking you cannot receive a Pell Grant if you’ve already received an undergraduate degree.

In some cases, students enrolled in a post-baccalaureate teaching program may be eligible to receive the Pell Grant. However, there are more stipulations — you cannot receive an unlimited amount of Federal Pell Grant funds, according to federal law. The Federal Pell Grant limit you can receive over your lifetime — known as Federal Pell Grant Lifetime Eligibility Used (LEU) — is limited to six years.

During a single award year, you can receive up to 100% of a scheduled Pell Grant Award, though it is possible to receive up to 150% of your scheduled award. For example, you may take classes during the fall, spring, and summer and therefore receive more than the scheduled 100%. However, you can receive the Pell Grant for no more than 12 terms, or about six years, because the six-year percentage equals 600%.

Using Funding From Financial Aid for Second Bachelor’s Degree

Financial aid for a second bachelor’s degree can include work-study, scholarships, federal student loans, and student aid for military spouses. You can think of your financial aid award as a jigsaw puzzle — the individual pieces fit together to form your award. Here’s a look at the types of aid you might receive.

Work-Study

When you file the Free Application for Federal Student Aid (FAFSA®), you may receive a work-study award — yes, even if you’re working toward earning a second bachelor’s degree. As long as you apply for part-time work-study jobs for a second degree on campus (sometimes off-campus jobs are available) you may work up to the amount you receive on your work-study award. The amount you can make depends on factors including your level of need and the funds your school has available for work-study.

It’s important to remember that work-study is not “automatic money” — you must apply for a job and work toward the number of hours shown on your award.

Scholarships

Scholarships have diverse eligibility requirements and some may be open to learners seeking a second bachelor’s degree. Scholarships may come from a wide variety of sources, including the institution you apply to. It’s a good idea to ask the financial aid office at each school for more information about the types of scholarships available to you because each college and university has various requirements for earning scholarships. For example, some may be based on merit and others may be based on financial need.

Other organizations, such as clubs, foundations, charities, businesses, local and state governments, and individual philanthropists, may also offer scholarships.

Recommended: Scholarship Search Tool

Federal Student Loans

You may qualify for federal student loans as long as you are under the aggregate federal student loan limit for dependent students of $31,000, with no more than $23,000 in subsidized student loans. Independent students are limited to $57,500 and cannot go over more than $23,000 in subsidized loans.

Undergraduate students can take advantage of Direct Subsidized Student Loans or Direct Unsubsidized Loans, which must be repaid with interest. Subsidized student loans are need-based federal student loans in which the government pays the interest while you’re in school (though you’ll pay the interest after school). Unsubsidized student loans are non-need-based federal student loans in which the government does not pay the interest while you are in school.

For loans disbursed during the 2025-2026 academic year, undergraduate students can take advantage of both Direct Subsidized or Unsubsidized Loans for an interest rate of 6.39%.

Student Aid for Military Spouses

If you are the spouse of a military member, you may be able to have your military member transfer Post-9/11 GI Bill benefits to you based on your loved one’s military service, particularly if they are on active duty or in the Selected Reserve.

Your loved one must have completed at least six years of service, agreed to add four more years of service, and must also be enrolled in the Defense Enrollment Eligibility Reporting System (DEERS). Your active duty military member must use a Transfer of Entitlement (TOE) before you can apply for benefits.

What Do I Need to Do to Use Financial Aid for a Second Bachelor’s?

You can file the FAFSA for financial aid for a second bachelor’s degree and accept the aid award that comes from the school of your choice. Let’s go over each of these steps.

Applying for FAFSA

You must file the FAFSA to qualify for federal student aid. The FAFSA form online asks you to report on your personal financial information, including tax information and your savings and checking account balances. The FAFSA information also helps colleges, universities, and private financial aid providers decide how much state and institutional aid you may receive.

Once you file the FAFSA, you’ll get a Student Aid Report (SAR), which summarizes the information you’ve entered on the FAFSA. The SAR reports a variety of information including:

•   Your Student Aid Index (SAI), a number that determines your eligibility for student aid

•   Your eligibility for federal student loans

•   Your eligibility for Federal Pell Grants

•   Whether you’ve been selected for verification, which is a process that some students undergo to confirm that all the information is accurate on the FAFSA. Students may get selected randomly for verification and the school may also select them for verification. They may also get selected if the Central Processing System found problems with the FAFSA. The financial aid offices at the schools on your list can help you through the verification process.

Once you complete everything, you’ll receive a financial aid award from the schools on your shortlist.

Accepting Financial Aid

After receiving your financial aid award, it’s important to go through your full award to make sure you understand it, line by line. If you don’t understand a portion of your award, call the financial aid office of the school that sent it to you. They should be able to explain your full award to you in detail.

The school will generally explain how to accept your financial aid award in the email or packet that you receive. You can go through each type of loan, grant, and scholarship and accept or decline the awards you want. You can also accept the entire award. The financial aid office will let you know about your next steps after your award acceptance and after you pay your enrollment deposit.

Ways to Pay for a Second Bachelor’s Degree

You can pay for your education using financial aid for a second bachelor’s degree using the types of aid described above (through grants, scholarships, and federal student loans). You may also want to pay for college using some money you’ve saved or that you are currently earning through a part- or full-time job.

Learners can also take advantage of private student loans, which are student loans that don’t come from the federal government. They typically offer higher interest rates than federal student loans but are a great way to fill in the gaps that other financial aid for second bachelor’s doesn’t cover.

Before you choose a private student loan lender, ask questions about interest rates, terms, and repayment options. Note that you’ll lose the option to tap into federal student loan benefits like income-driven repayment plans and loan forgiveness options if you go the private student loan route.

Another option to consider is refinancing student loans to potentially get a lower interest rate or more favorable loan terms. A lower interest rate could help lower the monthly payments on the loans from your first bachelor’s degree, if you qualify.

When you refinance, you replace your existing loans with a new loan, which could streamline your payment process since you’ll have just one monthly payment to make. Just be aware that refinancing federal student loans makes them ineligible for federal benefits like deferment or income-driven repayment plans.

The Takeaway

If you’re wondering, “Can I get financial aid for a second bachelor’s degree?” you now know that the answer is a resounding “Yes!”

But will financial aid pay for a second bachelor’s degree? The answer is that federal financial aid and scholarships may not fully cover all your education expenses, which is why you might consider looking into private student loans. You might also opt to refinance the loans from your first bachelor’s degree to help lower your interest rate or get better terms if you’re eligible.

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

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

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FAQ

Am I eligible for financial aid if I already have a bachelor’s degree?

It is possible to get financial aid if you already have a bachelor’s degree, including federal student loans, federal student grants, and work-study awards. However, you will need to fill out the Free Application for Federal Student Aid (FAFSA)® to see what you’re eligible for. Borrowers are limited to a certain lifetime amount for federal loans. For instance, for a dependent student, the aggregate amount on federal student loans is $31,000, and no more than $23,000 of that can be in subsidized student loans.

Can I get a FAFSA for a second bachelor’s degree?

Yes. If you’re pursuing a second bachelor’s degree, you can fill out the FAFSA to see what federal aid you may be eligible for. Potentially, you might qualify for such financial aid as federal loans, grants, and work-study jobs.

Can I get a Pell Grant for a second bachelor’s degree?

In general, you cannot get a Pell Grant for a second bachelor’s degree. However, in some cases, students enrolled in a post-baccalaureate teaching program may be eligible to receive the Pell Grant. But there are stipulations. The Federal Pell Grant limit you can receive over your lifetime is limited to six years.

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

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

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

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

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.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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

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