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Alongside going to school and doing homework, high school students may spend time studying for standardized tests, participating in extracurriculars, and volunteering in their community, with the hopes of standing out in their college applications.

On top of all that work, high school students also have to manage the many deadlines that are a major part of the college application process. A bit stressful, right? Especially when you consider the fact that applying to college costs money.

In order to make the whole experience a bit more seamless, we’ve rounded up important college application deadlines that are helpful for students to track. That way, instead of worrying about missed deadlines, you can jot these dates down and get back to hitting the books.

SAT Deadlines

While the SAT is not the only college entrance exam that students take, it is the one that is more commonly utilized by universities and colleges during the admissions process. This exam is administered by the College Board and is intended to measure the student’s readiness for college.

Typically, high school students will take the SAT starting in the spring of their junior year and ending in the fall of their junior year. Some students choose to take the test multiple times throughout this time period. The SATs are available to take each year in the months of March, May, June, August, October, November, and December.

While the official testing dates will vary on a year-to-year basis, these are the anticipated dates for registration and testing for the 2025-26 school year. SAT subject tests are not necessarily available to take on all of these dates.

When it comes time for students to provide their scores to colleges, they will do so when they submit their complete application. Application deadlines will vary by school, but there are some common deadlines worth considering.

For regular decision applications (not early decision), the most common deadline is January 1st. Many schools also have a January 15th deadline. The main exception to these January deadlines is the University of California system which has a much earlier deadline of November 30th for all schools in their system.

Some schools offer later deadlines in February, March, or April, but this is less common.

ACT Deadlines

Similar to the SAT, the ACT is a college entrance exam that colleges and universities use during the admission decision process. Also like the SAT, the ACT is designed to evaluate how ready a high school student is for college. ACT test scores are taken into consideration during the admission process by the colleges that require them.

Students take this exam during the same time period as the SAT, from the spring of their junior year to the fall of their senior year. Students can choose to take this test multiple times in the hope of improving their score before they submit their college applications.

Each year, the ACT is offered in the months of February, April, June, July, September, October, and December. The one exception being that there are no tests scheduled in July in New York.

The official testing dates vary each year, but the following dates are available for registration and testing for the 2025-26 school year.

Just like with their SAT scores, students will submit their ACT when they complete their college applications. The ACT automatically sends the students scores from the ACT test directly to the schools of their choice.

Recommended: Ultimate College Application Checklist

The Common Application Deadlines

The Common Application is a highly convenient option for many students applying to more than one college. With just one application, students can apply to up to 20 schools (with more than 1,100 schools to choose from) in the U.S. and internationally. The Common App even helps students manage the many application deadlines they may be facing.

In each student’s “Dashboard” through The Common App, they will be alerted of their application deadlines. To meet an application deadline, the student must submit their application materials by 11:59 pm in their local time zone on the deadline date. The Common App recommends submitting the application well before 11:59 pm in case there are any last minute complications caused by a technical barrier, such as loss of internet connection.

FAFSA Deadlines

When students complete the Free Application for Federal Student Aid (FAFSA®), they will be considered for federal student aid. Many states and colleges also use the FAFSA to determine their own financial aid awards for students, such as scholarships, grants, and loans. The amount of aid is limited, so meeting the FAFSA deadlines is super important.

The following deadlines are worth remembering:

Federal Deadlines

To be considered for federal student aid for the 2025–26 award year, the FAFSA must be submitted by 11:59 p.m. Central Time (CT) on June 30, 2026. Any FAFSA corrections or updates must be submitted by 11:59 p.m. Central Time on September 12, 2026.

College Deadlines

Each college a student is accepted at may have a different deadline for submitting the FAFSA to their particular financial aid department. Students should double check this deadline for any schools they want to potentially attend.

State Deadlines

Each state has a unique deadline which students can review on the Federal Student Aid website .

Early Decision Deadlines

When applying for an early decision, the traditional deadline is in November, typically falling on the 1st or the 15th. However, some schools now offer what is called Early Decision II, which offers students a chance to apply for an early decision but at a later date, typically in January. Each school’s dates vary, so it’s a good idea for students to confirm these dates with the schools they are interested in.

Recommended: What Happens If You Back Out of Early Decision?

Early Action Deadlines

Students applying for early action can expect a deadline of November 1st or November 15th for the most part. As they are applying early, they generally receive an admissions decision early as well. This usually happens in mid-December.

The main difference between early decision and early action is that early decision binds a student to attend that specific school. Early action simply means you are receiving a decision early in the application process; it’s non-binding.

Rolling Admissions Deadlines

Some schools offer more flexibility on their admissions deadlines by offering what is called “rolling admissions.” The difference between a rolling admission process and a deadline-based admission process is that colleges with rolling admissions evaluate applications as they are submitted, rather than waiting until an official deadline to review them all at once. These schools evaluate applications as they receive them until they have filled all of their incoming class slots.

A rolling admissions decision essentially allows a student to apply anytime they would like and they have until the school’s decision deadline to choose if they will attend. Typically schools with rolling admissions deadlines have longer admission windows, which gives students time to apply to other schools.

College Decision Day Deadlines

While not all schools set their acceptance deadlines for the College Decision Day date, many schools do. May 1st is National College Decision Day, the deadline for students to officially choose which college they will attend — though they can make their decision earlier if they wish. Students have to sign a letter of intent to enroll and typically need to submit a deposit to hold their spot in the incoming class.

College Education Financing Options

Once the college application deadlines for high school seniors pass and the acceptance letters begin to roll in, students and their families may begin to think about how they’ll finance a college education. After reviewing the financial aid package offered by their school, the student will have a better idea of how much they may need to take out in student loans in order to cover the costs of tuition, books, and room and board.

There are two types of student loans: federal and private. Federal student loans can be obtained from the United States government and their terms are set by law. As mentioned, students can apply for federal student aid by filling out the FAFSA annually. Federal loans offer fixed income rates and certain protections, such as income-driven repayment plans.

Private student loans, on the other hand, come from private lenders such as credit unions, banks, and online lenders. Terms for private student loans are generally based on the applicant’s (or cosigner’s) credit history, among other factors. Unlike federal loans, private loans don’t come with government-based protections.

Recommended: A Complete Guide to Private Student Loans

The Takeaway

Navigating college application deadlines is crucial for a smooth and successful admissions process. By staying organized and meeting key deadlines for regular decision, early decision, financial aid, and scholarships, students can maximize their opportunities and reduce stress.

When it’s time to pay for college, students can turn to a combination of federal aid — such as grants, scholarships, and federal loans — as well as private student loans to help cover the cost.

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

FAQ

What are the important dates for college applications?

Important dates for college applications include early decision/early action deadlines (usually in November), regular decision deadlines (typically in January), financial aid application deadlines (often in February), and decision notification dates (usually in April). Students should also note campus visit and scholarship application deadlines.

What month do most people apply for college?

Most people apply for college in December and January for regular decision deadlines, while some apply in November for early decision or early action programs.

What is the most common college application deadline?

The most common college application deadline is January 1st for regular decision, though early decision and early action deadlines are typically in November.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

Saving money is a common goal. Who doesn’t want more cash available to cushion their budget, pay off debt, or save for a future dream like a trip to Italy or an early retirement?

Saving money is important for many reasons. It can allow you to pay for things outright rather than running up high-interest credit card debt. It can offer peace of mind, when you know you have enough put away to navigate rough times. And having more money can give you more options.

Saving money doesn’t have to mean living so frugally that there’s never a fancy coffee or weekend getaway in your foreseeable future. In truth, saving money can be fairly painless if you’re smart about it.

Read on to learn some clever, simple strategies for how to save money each month.

1. Tracking Your Weekly Spending

Looking at your spending on a weekly basis can feel more manageable than trying to keep track of a month’s worth of spending at a time.

That’s not to say that you shouldn’t budget on a monthly basis, but breaking your timeline into smaller segments can simplify the process.

You can track spending (including every cash/debit/credit card transaction and every bill you pay) by using an app, jotting down every purchase, or collecting all of your receipts and writing it all down later.

You might then set a certain day to look over the week’s spending. This can be an enlightening exercise. Because spending can be so frictionless these days, many of us don’t have a real sense of how much we are actually shelling out on a day-to-day basis.

Just seeing it all laid out in black and white can immediately make you think twice before you buy something nonessential and inspire you to become more intentional with every dollar.

💡 Quick Tip: Tired of paying pointless bank fees? When you open a bank account online you often avoid excess charges.

2. Creating a Simple Budget

Once you’ve mastered tracking your cash flow, and have a good idea as to your spending habits, you may want to take it one step further and set up a simple budget.

A budget is nothing more than setting limits for spending in different categories. To get started, you’ll want to list all of your monthly expenses, grouping them into categories, such as groceries, rent, utilities, clothing, etc.

If your goal is to save some money every month, you’re going to want to set a budget for yourself that includes an allocation to saving.

Next, tally up all of the income you’re taking home each month (after taxes), and see how your monthly spending and monthly income compare.

If spending (including putting some money towards savings) exceeds income, the next step is to look at all your expenses, find places where you can cut back on spending, and then give yourself some spending parameters to stick to each week.

3. Automating Savings

If you do nothing else to get yourself on the savings path, consider doing this.

Automating savings is a great way to remove a huge barrier to saving — forgetting to put that money aside, then ultimately spending it.

The reality is, we all live busy lives, and while we may have every intention of stashing away cash, there are many reasons why it’s hard to save money. Saving often doesn’t happen without a plan.

Automating is an easy way to save money without ever having to think about it.

The idea is to have money moved from a checking account and into a savings account on the same day each month, perhaps soon after your paycheck is deposited.

This way, the money is whisked from the checking account before it can be spent elsewhere.

If you are new to automating or have an irregular income, it’s okay to start with smaller dollar amounts. Likely, you won’t even notice that the money is gone from your account, and you’ll be able to increase the amount of money over time.

You can set up automatic transfers to your savings, retirement, and other investing accounts.

4. Planning Your Groceries

Here’s another easy way to save money: Spend less on groceries by making a meal plan and a shopping list before you go to the store.

Without a list, you may be tempted to buy things that look good but that you don’t need or can’t use. Plus, you may end up having to go back to the store later, where you may be tempted to buy more things.

You don’t have to be a pro at meal-planning. It can be as simple as picking a few recipes that you want to make throughout the week (making large enough portions to provide for leftovers is another way to save).

You can then write a list of the ingredients that you’ll need, making sure to check your cabinets and use what you have first. Doing so is a life skill that can save you money.

You may also want to list exactly what snacks and/or desserts you plan to buy, so you’re not overly tempted once you get to the chips or cookies aisle.

Another way to save money on groceries is to cut back on pricier items, such as meat and alcohol, and to go with store or generic brands whenever possible. With tactics like these, you could be saving money daily.

5. Negotiating Your Bills

Some of those recurring bills (such as cable, car insurance, and cell phone) aren’t carved in stone.

Sometimes you can get a lower rate just by calling up and asking, particularly if the provider is in a competitive market.

Before calling, you may want to do a little research and know exactly what you are getting, how much you are paying, and what the competition is charging. You may also want to get competing quotes.

Even a small reduction in a monthly bill can save significant cash by the end of the year.

If you are experiencing hardship, you may also be able to negotiate down your electric and/or other utility bills by calling and explaining your circumstances. It never hurts to ask. The same holds true with doctor’s charges: You may be able to negotiate medical bills as well.

6. Actively Paying Down Credit Cards

This might sound more like spending than saving, but if you’re currently only paying the minimum on your credit cards, a big chunk of your payment is likely going towards interest. Chipping away at the principal can feel like a tall mountain to climb.

If possible, consider putting more than the minimum payment towards your bill each month. The faster those credit cards are paid off, the faster you can reallocate money that was going to interest into savings.

Can’t seem to make a dent in your credit card debt? You might want to look into a zero-interest balance transfer offer, using a lower-interest personal loan to pay off the debt, or finding a debt reduction plan.

7. Canceling Subscriptions

It can be all-too easy for money to leak out of your account due to sneaky subscriptions.

From unused gym memberships to shopping subscription programs, subscription bills (even small ones) can rack up quickly because they come every single month without fail.

The first step is to cancel any subscriptions that no longer serve you. Try to be honest with yourself: Are you likely to start going to the gym? Could you work out at home instead?

If you’re looking to save money faster, you might consider making a sacrifice on a subscription that you do enjoy. For example, maybe you pay for Netflix, Hulu, and Disney+. Is it possible to use just one or two, instead of three? That could be a good way to save on streaming services.

8. Renewing Your Library Card

If you’re a reader and love books, one creative way to save money is to dig out your library card, or if you don’t have one, stop in to apply for a card.

The library can be a great resource for more than books. For example, you can often access magazines, newspapers, DVDs, music, as well as free passes to local museums.

These days, you can typically get many of the benefits of being a cardholder without ever actually going to a branch. You can often get audio books and e-books, as well as access to online publications and online entertainment all from your computer or phone. Cost: Zero.

9. Shopping for Quality

Buying well-made, durable items instead of cheap, trendy, or single-use items may mean spending a little more up front.

But this can be a shrewd money move that can save you a bundle over the long run because you won’t have to repeatedly make the same purchases.

Buying a few classic, well-made pieces of clothing you will wear for a few years, for example, can end up costing less than picking up eight or 10 cheaper, trendier items that you’ll end up replacing next year.

It may also pay off to spend a little more for appliances that are known for being reliable and lasting a long time and have great customer reviews, than buying the cheapest option.

Shopping for quality takes some education and practice, but it can be a worthwhile skill that your wallet will appreciate.

10. Pressing Pause on Big Purchases

Making impulse purchases can wreck a budget. That’s why if you’re tempted to buy an expensive item that is more of a “want” than a “need,” you may want to give yourself some breathing room, and allow the initial rush to wear off.

For example, you might tell yourself that you’ll wait 30 days and if, after the waiting period is over, you still want the item, you can get it then.

During that time you may lose interest in the item. If, however, you still want it in a month, that’s a good sign that this purchase will add substantial value to your life, and isn’t just a fleeting desire. If you can make room for purchase in your budget, then go for it.

This helps you make spending decisions from a slower, more thoughtful place, and can be a huge help in learning to budget and save money.

11. Round up Purchases

A painless and fun way to save money can be by rounding up purchases. You can do this in one of two ways.

•   The old-fashioned way is to pay for things with cash and keep the change in a jar. Then, at the end of a week or a month, deposit that change into your savings account.

•   Today, there are a variety of apps that allow you to round up purchases. That extra money can then be put into savings or invested. Check with your bank; they may offer a program like this making for a seamless experience.

12. Look into Refinancing Your Loans

Interest rates go up and down, and there may be an advantage to refinancing your loans if you can find a lower rate and/or a shorter term. Doing so could save you considerable money in interest over the life of the loan, whether that’s a mortgage, car payment, or student loan.

13. Bundle Your Insurance Policies

You may be able to whittle down your bills by combining your insurance policies (typically home and auto) with one company. Generally, when you do so, you can reap a solid amount of savings.

14. Gamify Savings

Many people find it helpful to give themselves monthly challenges to save money. It can make the pursuit of spending less more fun and can get your competitive spirit going.

For example, one month, you could vow not to get any takeout coffee and put the savings in the bank. The next month, you could vow to not use any rideshares and instead walk or take public transportation. Again, you’d put the cash saved in the bank.

15. Go Fee-Free

It can be wise to take a look at your financial institution and see how much you are paying in bank fees. There can be everything from overdraft charges to out-of-network fees to foreign transaction costs. In addition, your account might be hit with monthly maintenance or minimum balance fees. All of that can add up.

You might want to shop around for a new banking partner if you’re getting assessed a number of these charges.

Why Saving Money Is Important

Why go to the trouble of pinching pennies like this? Saving money is important for several reasons.

•   It can help you build wealth.

•   It can give you security.

•   It can reduce money stress.

•   It can help you achieve short- and long-term financial goals.

•   It can allow you to navigate bumpy times (such as job loss).

•   It can give you breathing room to splurge at times on the fun stuff of life.

Finding a Good Place to Grow Your Savings

Even if you’re only putting a small amount of money into savings each month, over time, that account will grow.
One way to help it grow faster is to park the money in a place where you won’t accidentally spend it and where it can earn more interest than a typical savings account.

You might consider opening up a high-yield savings account, money market account, online savings account, or a cash management account.

You may find that separating your savings, and watching it grow, keeps you motivated to save.
In some cases, you may be able to create “buckets” within your account, and even give them fun names, such as “Sushi Tour in Japan” or “My Dream House” that can help keep you motivated.

The Takeaway

Saving may not seem nearly as fun as spending, but it can give you the things you ultimately want, whether that’s a posh vacation, a down payment on a new home, or a comfortable retirement.

And, there are plenty of ways to save money that don’t require sacrifice. You can use a mix of short-term strategies (like spending less every time you go to the supermarket) and long-term moves (like paying down debt and buying higher quality goods) to achieve your goals.

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

FAQ

What is the 50/30/20 rule?

The 50/30/20 budget rule says that, of your take-home pay, 50% should be allocated to needs, or basic living expenses and minimum debt payment; 30% should be for wants, or discretionary spending; and 20% should go into savings.

What is the 30 day rule?

The 30-day rule is a way of avoiding impulse purchases and helping you take control of your money. If you find yourself about to make a significant impulse purchase, agree to wait 30 days. Write down the item, its cost, and where you saw it in your calendar for 30 days in the future. If that date rolls around and you still feel you must have it, you can reevaluate buying it, but there is a good chance the sense of “gotta have it” will have passed.

How much should you save a month?

Many financial professionals advise saving 20% of your take-home pay, but of course the exact amount will vary depending on such factors as your income, your debt, your household (how many dependents, for instance), and your cost of living.

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

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

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

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

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

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.

¹SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

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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SOBNK-Q325-052

Are you ruminating about a refi? How soon you can refinance your home depends on the kind of mortgage you have and whether you want cash out.
The type of mortgage you have plays a major role in determining how soon you can refinance a mortgage after closing. You can typically refinance a conventional loan as soon as you want to, but you’ll have to wait six months to apply for a cash-out refinance. The wait to refinance an FHA, VA, or USDA loan ranges from six to 12 months.

Before any mortgage refinance, homeowners will want to ask themselves: What will the monthly and lifetime savings be? What are the closing costs, and how long will it take to recover them? If I’m pulling cash out, is the refinance worth it?

How Soon You Can Refinance Your Home by Mortgage Type

How soon after you buy a house can you refinance? The rules differ by home loan type and whether you’re aiming for a rate-and-term refinance or a cash-out refinance.

A rate-and-term refi will change your current mortgage’s interest rate, repayment term, or both. Cash-out refinancing replaces your current mortgage with a larger home loan, allowing you to take advantage of the equity you’ve built up in your home through your monthly principal payments and appreciation.

Here are more details about how soon after you buy a house you can refinance with different kinds of loans.

How Soon Can You Refinance a Conventional Loan?

If you have a conventional loan, a mortgage that is not insured by the federal government, you may refinance right after a home purchase or a previous refinance — but likely with a different lender.

Many lenders have a six-month “seasoning” period before a borrower can refinance with them. So you’ll probably have to wait if you want to refi with your current lender.

How Soon Can You Cash-Out Refinance?

Here’s how cash-out refinancing works: You apply for a new mortgage that will pay off your existing mortgage and give you a lump sum. A lower interest rate may be available at the same time.

How soon you can refinance your home with a cash-out refinance depends on the kind of loan, but you normally have to wait at least six months before refinancing a conventional mortgage. An FHA cash-out refinance requires that you have owned the home for at least one year and that your mortgage is at least six months old with a record of on-time payments. Getting a cash-out refinance on a VA loan involves a waiting period of 210 days from the closing date on the original mortgage or six months of on-time payments, whichever comes later.

How Soon Can You Refinance an FHA Loan?

An FHA Streamline Refinance reduces the time and documentation associated with a refinance, so you can get a lower rate faster. (That said, how soon you can refinance an FHA mortgage is still not as soon as with a conventional loan.)

You will have to wait 210 days (and make at least six on-time payments) before using a Streamline Refinance to replace your current mortgage.

How Soon Can You Refinance a VA Loan?

When it comes to VA loans, the Department of Veterans Affairs offers an Interest Rate Reduction Refinance Loan (IRRRL), also known as a “streamline” refinance.

It also offers a cash-out refinance for up to a 100% loan-to-value ratio, although lenders may not permit borrowing up to 100% of the home’s value.

How fast you can refinance a home loan from the VA is the same in both cases. The VA requires you to wait 210 days between each refinance or have made six on-time monthly payments, whichever comes later. Some lenders that issue VA loans have their own waiting period of up to 12 months. If so, another lender might let you refinance earlier.

How Soon Can You Refinance a USDA Loan?

The Streamlined-Assist refinance program provides USDA direct and guaranteed home loan borrowers with low or no equity the opportunity to refinance for more affordable payment terms.

Borrowers of USDA loans typically need to have had the loan for at least a year before refinancing. But a refinance of a USDA loan to a conventional loan may happen sooner.

How Soon Can You Refinance a Jumbo Loan?

You may be wondering, “When can I refinance my house if I have a jumbo loan?” For a jumbo loan, even a rate change of 0.50% may result in significant savings and a shorter time to break even.

Here’s the good news about how fast you can refinance a home loan that’s a jumbo loan: You can refinance your jumbo mortgage at any time if you find a lender willing to do so.

Top Reasons People Refinance a Mortgage

If you have sufficient equity in your home, typically at least 20%, you may apply for a refinance of your mortgage. Lenders will also look at your credit score, debt-to-income ratio, and employment.

If you have less than 20% equity but good credit — a minimum FICO® score of 670 — you may be able to refinance, although you may not receive the best rate available or you may be required to pay for mortgage insurance.

Remember, too, that home equity increased for many homeowners in recent years as home values rose. That’s attractive if you want to tap your equity with a cash-out refinance.

Here are some of the main reasons borrowers look to refinance.

Lower Interest Rate

For many homeowners, the point of refinancing is to switch to a loan with a lower rate. Just be sure to calculate your break-even point – the moment when the closing costs will have been recouped: To do this, divide the closing costs by the amount you’ll save in payments every month. For example, if your closing costs will be $5,000 and you’ll save $100 a month, it will take 50 months to break even and begin reaping the benefits of the refi.

Two points to remember if you’re considering a refi for this reason. First, if you purchased your home around 2020, it may be hard to capture a lower interest rate than you currently have, as rates then were particularly low compared to historical mortgage rates. And second: Closing costs can often be rolled into the loan or exchanged for an increased interest rate with a no-closing-cost refinance.

Shorten Loan Term

Refinancing from a 30-year mortgage to a 15-year loan usually saves you a substantial amount of loan interest, as this mortgage calculator shows. Or you might want to refi to a 20-year term, if you’re years into your mortgage already, since resetting to a new 30-year term may not pay off.

Reduce PMI

If you put down less than 20% on a conventional mortgage, you’re probably paying primate mortgage insurance (PMI) on the loan. This typically costs between 0.5% and 1.0% of the total loan amount annually, though it can be higher. When your mortgage balance is down to 78% of the home’s original value (or the loan reaches the halfway point of the term schedule) the lender will automatically cancel the insurance, and you can request to have it removed when the balance is down to 80%, but until then, you’re on the hook for these monthly payments. One potential way to get rid of or reduce them is to refinance. For this to be worth considering, rates will have to be lower and you’ll need to find a lender willing to let you refinance with less than 20% equity. But especially if your home has gone up in value, this may be a possibility.

FHA loans require a similar insurance payment, called mortgage insurance premiums. After the upfront fee you’ll pay at closing, you pay monthly installments on a charge that’s annually between 0.15% and 0.75% of your loan amount for 11 years or the life of your loan, depending on when you took out the loan and the size of your down payment. The only way to get rid of those fees early may be to sell your home or refinance the mortgage to a conventional loan once you have 20% equity in the home — in other words, when your new loan balance would be at least 20% less than your current home value.

Switch to an ARM or Fixed-Rate Loan

Depending on the rate environment and how long you expect to keep the mortgage or home, refinancing a fixed-rate mortgage to an adjustable-rate mortgage (ARM) with a low introductory rate could be a strategic move. Similarly, if you’re uncomfortable with unpredictable payments and want to lock in a stable rate, switching from an ARM to a fixed-rate loan may make sense.

The Takeaway

If you’ve been asking yourself, “When can I refinance my house?” the answer is that it depends. If it’s a conventional loan, whenever you want to, although probably not with the same lender if that’s within six months of closing. Otherwise, if you must bide your time before refinancing or you’re waiting for rates to drop, that gives you a lull to decide whether a traditional refinance or cash-out refi might suit your needs.

SoFi can help you save money when you refinance your mortgage. Plus, we make sure the process is as stress-free and transparent as possible. SoFi offers competitive fixed rates on a traditional mortgage refinance or cash-out refinance.

FAQ

Do you need 20% equity to refinance?

Some lenders will allow you to refinance with less than 20% equity in your home, but you may not get the best available interest rate, or you may need to pay for private mortgage insurance. You’ll want to do the math to make sure you’re saving money with the refinance.

Does refinancing hurt your credit score?

There may be a temporary dip in your credit score after a refinance, but if refinancing helps you lower your monthly debts you may find that it is actually helpful to your credit score over the long term.

Should I refinance soon after buying a home?

How soon you can refinance your mortgage after closing is secondary to whether refinancing soon is a good idea. That will depend on your specific loan, how much you put down, whether rates have changed, and many other factors. You’ll also want to take into account both the advantages you hope to get from refinancing as well as the costs.

How do I know when to refinance my mortgage?

The time to think about refinancing your home is when the benefits of a refi outweigh potential costs (like closing costs). If you can get a significantly lower interest rate, switch to a more advantageous loan type, or access a sum you need from a cash-out refinance, for example, it may be worth looking into a refinance.

Can you refinance more than once in a year?

There’s no legal limit on how often you can refinance. However, lenders and loan types may require waiting periods which will limit how many times you can refinance in a year. And don’t forget that you’ll generally need to pay for closing costs each time, as well.

What documents are needed to refinance a mortgage?

Requirements will vary by lender, but typically you’ll need to have documents that establish your income (W-2s for the past two years and paystubs; 1099s and/or tax returns if you’re self-employed), records establishing your financial reserves (account statements, including investment accounts), proof of homeowners insurance, and the most recent monthly statement for any mortgages or home equity loans you have.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

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 Mortgages
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Earning straight A’s in college is a goal that many students aspire to, but it can seem daunting and overwhelming. However, with the right strategies, time management, and a bit of perseverance, it’s entirely achievable.

With the cost of college still rising (counting room and board, a private college can run up to $80,000 per year, and a public college, up to $30,000 or more), getting straight A’s can help you in key financial ways. It can put you on track for a lucrative career or give you an edge in a competitive internship field.

Keep reading for tips on how to get all A’s in college, what it means for future employers, financial benefits of getting straight A’s in college, and more.

What Is a 4.0 GPA in College?

Your GPA (Grade Point Average) is a number that reflects your academic standing based on the grades you receive in all classes. The scale starts at the top with 4 (for an A), 3 (B), 2 (C), 1 (D), and O (for F, or failing). A 4.0 GPA means you aced every class and got straight A’s in college.

Do Colleges Care About Straight A’s?

To get in the college door, the answer is often yes. Many college admissions teams do notice straight A’s in a quest to enroll the best and brightest high school students.

Once you are on campus, your college may not expect all A’s, but some colleges and universities may require a minimum GPA in introductory courses before allowing students to declare a popular major that typically brings lucrative returns later. The list may include mechanical engineering, computer science, nursing, finance, and economics. These universities want students of the highest academic caliber for the highest-earning majors.

Another reason colleges care about your grades is because you need to maintain a certain GPA to continue to qualify for federal student aid. In order to maintain eligibility for federal student aid, including federal loans and grants, students need to meet their school’s standards for Satisfactory Academic Progress (SAP). Each college is allowed to set its own minimum GPA.

Merit scholarships may also have minimum GPA requirements, so maintaining a high academic standard may be important for maintaining eligibility for merit awards as well.

Recommended: A Complete Guide to Private Student Loans

Do Employers Look at Your GPA?

GPA, a benchmark once widely used by employers, is now considered by just 37%, according to a 2023 survey by the National Association of Colleges and Employers (NACE). That’s a dip from 2019, when, according to NACE, nearly three-quarters of respondents said they used GPA to identify promising candidates.

According to NACE, the trend away from using GPA appears to reflect awareness that GPA screening may not build an inclusive workforce and can be a disadvantage to students who balance school with work and other responsibilities. Also, as employers compete for talent, they are reevaluating long-used screening tools.

How Hard Is It to Get a 4.0 in College?

Whether you’re getting all A’s often depends on your major, the courses you take (organic chemistry, anyone?), and even the college you attend. But chasing a 4.0 can be hard on your life balance. If all you do is study, with no sleep, social life, or campus activities, your health and mental well-being may suffer.

Instead of overemphasizing your GPA, it may help to also focus on how you’re challenging yourself. A GPA is just one measure of your coursework.

Tips for Getting All A’s in College

If you are after all A’s, this action plan could help you achieve your goal.

Select a Major That You Are Passionate About

College is the time to immerse yourself in subjects that enthrall, inspire, and move us, whether that means microbiology or British literature. But if your mind is in the art world and your nose is in a sociology book, your interest can wane and you may be far less likely to excel. Choose a major that ignites your brain power and A’s will be more attainable.

Time Your Classes Well

When are you most alert? Are you wide awake in the morning and dragging by the evening? Schedule classes accordingly. Can you focus on a weekly 3-hour seminar or would you do better with a shorter class that meets more often? Know yourself and how you learn and work most productively.

Take Advantage of Professors’ Office Hours

If a calculus formula is not crystal-clear or you want to talk a little more about that short story structure, stop by your professor’s office during posted hours or pop in virtually if that’s an option. Professors post hours so students can get the help they need.

Practice Good Time Management

Make an organized schedule. Use Google Calendar on your phone or get an actual planner with paper pages. Don’t double-book time slots, whether for a study/coffee date with a classmate or your shift at the campus newspaper.

Closely Track Grades

Don’t wait until the end of the semester to see what your average is in your classes. Keep up to date on every grade and pump up your study efforts if necessary.

Set Study Time Blocks

Build in study blocks wherever and whenever possible. Several short sessions can be as productive as one long one. Review and study notes from day one to start building a bank of knowledge. When studying, turn off your phone and leave it in your backpack. Avoid looking at emails or other digital distractions. Take notes on relevant readings and review and organize class notes each week so you don’t have to cram come exam time.

Plan your study location based on the lowest possible risk of distractions, such as the school library. Adjust times and places as needed, and be flexible. Maybe 30 minutes at a coffee shop between classes is all you have one day, but if you block out two hours to study, stick to it. Consider enlisting a study buddy.

Benefits of Getting Straight A’s in College

Excelling in your classes can bring perks like these.

Dean’s List Recognition

The dean’s list, a term dating to the early 14th century, comes from the Latin decanus (“head of a group of 10 monks in a monastery”). You, of course, are at college, not a monastery, but you are at the head of the class when you make the dean’s list.

The distinction is usually reserved for full-time students at a specific GPA. Being on the dean’s list could help you stand out in a field of applicants for internships and seasonal jobs. Consecutive semesters on the list show you can achieve and maintain high standards.

Scholarships and Grants

Straight A’s can potentially translate into money to help pay for college. Unlike loans, which must be repaid, scholarships and grants are free money that can be used to cover tuition, books, and other educational expenses. These awards are often merit-based, meaning they are given to students who demonstrate exceptional academic performance, leadership, or other achievements.

To apply for scholarships and grants, start by researching available opportunities through your college’s financial aid office, online databases, and local organizations. Once you identify potential scholarships and grants, carefully review the eligibility criteria and application requirements. Tailor each application to highlight how you meet the specific criteria and stand out as a candidate. Submit your applications well before the deadlines to avoid last-minute stress and ensure they are complete and polished.

The Takeaway

Getting all A’s in college can bring big benefits, from helping you secure a place in a crowded major with lucrative career returns (such as engineering or computer science) to earning you a place on the dean’s list, a marker that helps you stand out in a competitive internship field. With the right study skills, you can seriously up the odds of acing your classes.

Hopefully, good grades will award you scholarships, but if not, there are other ways to help pay for college. You can use cash savings, grants, federal student loans, and 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.

FAQ

What is a 4.0 GPA in college?

A 4.0 GPA in college represents a perfect academic performance, where a student has achieved the highest possible grades in all courses. This grade point average is calculated on a 4.0 scale, with 4.0 being the equivalent of an A or A+ in every class, indicating exceptional academic excellence and consistency.

How do you become a straight-A student?

Becoming a straight-A student involves consistent effort and effective strategies. Attend classes regularly, take thorough notes, and stay organized. Set clear goals, manage time wisely, and prioritize studying. Engage actively with the material, seek help when needed, and maintain a healthy balance between academics and personal life. Persistence and a strong work ethic are key.

Do colleges care about straight A’s?

Colleges may not care if you get straight A’s, but some schools may require students to have a minimum GPA in introductory courses before allowing them to declare a popular major that typically brings lucrative returns in the work world. The list includes mechanical engineering, computer science, nursing, finance, and economics. Another reason to watch your GPA is that federal student loans and many scholarships and grants have a minimum GPA requirement.

Photo credit: iStock/Luis Echeverri Urrea

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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.

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