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The Ultimate Guide to Studying in College

College is a place for learning new things, preparing for a career, expanding one’s point of view, making new friends, and, of course, having fun. But putting more emphasis on a good time than on academics can lead to bad grades and worse.

One way to help ensure you thrive in school is a no-brainer: to study. You may find, however, that your high school study habits aren’t highly effective in college, where the work load tends to be higher, teachers are less personally involved, classes are larger, and exams are tougher. On top of that, college life is full of distractions.

That doesn’t mean you won’t succeed in your college classes. You may, however, need to kick it up a notch. What follows are some of the best study strategies for college classes.

Key Points

•   College requires effective study strategies due to increased workload and distractions compared to high school, emphasizing the need for improved habits.

•   Prioritizing adequate sleep and nutritious food significantly enhances focus and overall health, which are crucial for academic success.

•   Establishing a study schedule, organizing materials, and finding quiet study spaces help create a conducive learning environment for optimal concentration.

•   Collaborating with a study partner can increase accountability and motivation, while taking regular breaks prevents burnout and maintains productivity.

•   Implementing techniques to minimize distractions, such as logging out of social media and using focus music, can greatly improve study sessions.

Get Enough Sleep

Sleep is critical to a well-functioning brain and body. If you get enough sleep, you will generally find it easier to focus and feel healthier overall. Young people ages 18 to 25 need seven to nine hours of sleep a night, according to the National Sleep Foundation.

If you’re having trouble sleeping, try to go to bed and wake up around the same time every day, make sure your bed is comfortable, and a void drinking caffeine or alcohol, especially in the evening. Also helpful: Doing some yoga or meditating before bed, using ear plugs if your dorm is noisy, and using room-darkening shades on your windows.


💡 Quick Tip: Some lenders help you pay down your student loans sooner with reward points you earn along the way.

Feed Your Brain

Some foods, like candy and greasy dining hall pizza and french fries can make you feel good in the moment but may cause you to crash later or give you a stomachache. Instead, you’ll want to aim to eat nutritious foods that will power your brain.

Some of the best brain foods include: fatty fish that contain omega 3s , dark chocolate, blueberries, pumpkin seeds, nuts, eggs, oranges, and green tea.

Drinking water and tea instead of soda and sugary fruit juices is also a good idea.

Recommended: 11 Strategies for Paying for College and Other Expenses

Get a Study Partner

A good study partner can hold you accountable as well as keep you focused.

If you have a tough time sitting down and focusing on your studies on your own, you may find that learning with a study partner will force you to stick to a study schedule and may also help ensure that the information actually sticks.

Recommended: A Guide to Making Friends in College

Find a Quiet Space

Many people are unable to concentrate when they’re in a noisy environment. Unfortunately, a college dorm room can be loud because it’s where social gatherings often take place. Plus, there are so many students crammed into one area, nobody has any personal space. That’s why it can be a good idea to hunt for a quiet study space.

Quiet spaces on campus could include a library, where students might be able to reserve a private room; a secluded place outside; the campus cafe when it’s not busy; or an empty classroom.

If you have a car, you can drive off campus to a park, uncrowded eatery, or public library.

Recommended: Using Student Loans for Living Expenses and Housing

Put on Some Focus Music

Listening to music can be one of the best study tips for some college students. As long as the music isn’t distracting, you might find it helpful to pop in your earbuds when you study. Generally, the best types of music for focusing on work include nature sounds, songs without lyrics, songs played at medium volume, and songs with a specific tempo.

You might also like listening to your favorite upbeat bands that make you excited, as it may help you study and get your work done faster.

Don’t Wait Until the Last Minute

Practitioners of the fine art of procrastination often pay a price.

Procrastination can lead to bad grades, higher levels of stress, and negative feelings. Procrastinators are likely to not have a great study session because they are rushed.

To stop postponing the inevitable, you might want to put reminders on your phone that tell you when to study and when your assignments are due. A study partner can also help put feet to the fire.

If you procrastinate over and over again, perhaps it’s a sign that you are not interested in your studies and may want to pursue a different major.

Get Organized

If your papers are scattered everywhere, you won’t know where your important books or files are, or you may forget when your tests are scheduled.

If you could benefit from better organization, you might want to set up a Google Calendar and put every test, class, and appointment in there. You can also set reminders that will show up on your computer or phone when you need to study.

You could also clean your room at least once a week, filing papers in folders, putting books in a neat pile, and storing backpacks, clothes, and other items in closets. You might also want to purchase storage systems from places like IKEA and the Container Store so you have a place for everything.

In addition, it can help to create ongoing to-do lists and check off each task as you complete it. The night before you go to class or have to take a test, you can organize your backpack and put everything you need into it instead of rushing the morning of the test.

Recommended: 11 Strategies for Paying for College and Other Expenses

Shut Out Distractions

The noise in a dorm room or on a college campus can be distracting. Social media, text messages, and emails also take focus away from studying.

To buckle down, you may want to log out of social media and email and put your phone on do not disturb, only allowing emergency contacts to reach you.

If you are addicted to your phone or social media, you might want to install an app that turns off distractions and tracks how much time you’re spending on their phone.

Put Together a Study Schedule

Studying isn’t just going to happen. That’s why one of the most important study tips is to put together a study schedule that is realistic.

For instance, if you like to go to bed at 2 a.m., you can’t plan to study at 6 a.m. the day you have a test because you’ll be exhausted. Instead, you can plan to study the evening before the test.

You may also want to schedule a time when you can find a quiet place to study or when your dorm room is going to be less noisy. You will likely not be able to concentrate on a Friday or Saturday night in your dorm because of surrounding shenanigans. You could block out time on a calendar when the dorm is quieter and make sure you stick to it.

Recommended: How to Get Involved on Campus in College

Take Breaks

Studying for hours without a break could lead to burnout. Instead, pause to walk around, get some fresh air, or grab a glass of water or a healthy snack.

Some research suggests that the most productive people focus on intense work for 52 minutes and then take a 17-minute break.

You don’t have to follow the rule of 52 and 17 to a T; instead, you might get up every 20 minutes or so, or at least once an hour, whenever you start to feel you’re losing focus or your body is cramping.

If you are studying by looking at a computer screen, you can shut off the screen and phone and look at something else during that break. Looking at a screen for too long can hurt your eyes and have a negative effect on focus.


💡 Quick Tip: It’s a good idea to understand the pros and cons of private student loans and federal student loans before committing to them.

Here’s to Hitting the Books

You might have to try different techniques, and most of them will require practice, but once you hit a groove, you should be well on your way to getting good grades — a stepping stone to a fulfilling career.

You may also find it easier to focus on your studies if you’re not worried about paying all of the costs associated with college. There are a variety of ways to cover your college tuition and expenses, including financial aid, 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.


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



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


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

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 04/24/2024 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).

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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How to Pay For Online College

More and more people are considering degrees from accredited schools with “distance learning” options. These prospective students might be wondering how much these colleges cost compared to in-person options, how credible these online degrees are, what steps should be taken to apply to them, and whether there are options for student loans or financial aid.

The short answer: online degrees are increasingly credible, competitively priced, have a similar application process as in-person colleges, and can be paid for with a wide range of financial aid, federal student loans, and even private student loan options. In fact, some might even pay you to attend.

A Little Bit About Distance Learning

Online college falls under the umbrella of “distance learning”—a form of education conducted outside the traditional in-person classroom and facilitated with the use of several different tools and technologies. Many distance learning programs allow students to complete courses in an “asynchronous” format, aka at their own pace and on their own schedule.

Some online colleges also incorporate “synchronous” learning methods like virtual classrooms and video conferencing for meeting during a designated class time. Depending on which format a student chooses, they can create their own online learning experience as part of their college education.

How Credible Are Online Degrees?

In previous decades, the jury may have been mixed on whether online degrees were considered as credible as their in-person counterparts. But with the advancement of global technology and the onset of digital transformation, online colleges have become more widely recognized as institutions of high-quality education.

According to Northeastern University’s Online Education survey, 61% of HR leaders believe online college credentials are equally credible as those completed in-person. This included both degrees and certificates.

How Much Does The Average Online College Cost?

According to the U.S. News & World Report, the average cost of tuition for an online bachelor’s degree program is $40,491. For in-state students attending public online colleges, the average cost for a bachelor’s degree is $38,496. For out-of-state students, the cost is $54,183. And online bachelor’s degrees from private colleges cost an average of $60,593.

This, of course, is simply the average. In some cases, online college can cost even more than in-person programs. And, in other cases, online colleges can actually pay students to attend (more on that below).

How Do I Apply For Online College?

The process of applying to an online college is similar to that of a traditional in-person college or university. Depending on which school the prospective student chooses, there should be detailed application and enrollment instructions on the website.

Each college will have its own unique admissions policies and application instructions, with some adhering to set application deadlines and others offering “rolling admissions” where students can apply at any time.

Researching deadlines and requirements in advance can be a prudent way to approach the online college application process and provide exactly what the admissions team wants.

Are There No-Cost Online Colleges?

Yes. There are a few colleges and universities that offer tuition-free online classes with a variety of work study programs, scholarships, and other forms of financial aid. A few of those institutions include:

•   Alice Lloyd College
•   Arizona State University
•   Barclay College
•   Brown University
•   City College of San Francisco
•   College of the Ozarks
•   Community College of Rhode Island
•   Curtis Institute of Music
•   Deep Springs College
•   Louisiana Free Tuition

How Do I Pay For College If I Have No Money?

There are several ways to pay for college, even if the applicant has little-to-no means of funding:

•   Applying for scholarships is one way to pay for online college without having any money. There are several resources available for prospective college students seeking scholarships and, unlike student loans, repayment is not required.
•   Financial aid helps prospective students secure funds for online college in the form of grants, scholarships, work-study programs, and federal student loans.
•   Getting an extra gig could be a great way to accumulate some extra cash to subsidize online college costs.
•   Prospective students can see if they qualify for a private student loan online. Once they’ve applied for a student loan for online college, there are many different student loan repayment options to help them tackle the tuition debt on their own terms.

Are There Student Loans For Online Schools?

When online education first began, student loans weren’t offered by the government to cover their costs. But today, federal student loans are offered for online colleges that are accredited by the US Department of Education. Contacting the university’s financial aid office prior to enrollment is the best way to check on eligibility.

Outside of federal student loans, private student loans are another way to potentially pay for online college. With private student loans, each lender will have their own eligibility requirements, terms and conditions, and borrowers must agree to these parameters and complete on-time payments to avoid any fees or penalties associated with account delinquency. Still, there are several smart ways to pay off student loans as well as student loan refinancing options if the loan’s interest rates are unreasonably high.

What About Online Colleges That Accept FAFSA?

If you’re wondering, does FAFSA® cover online classes?, the answer is yes. The Free Application for Federal Student Aid (FAFSA) allows prospective students to apply for financial aid for online classes much like they would an in-person university. All they have to do is fill out the form online, print and mail a paper copy, or request a paper copy be sent by mail and returned.

What Types of Federal Student Loans are Available For Online College?

Prospective students might consider consulting with their online college’s financial aid office before deciding which type of federal student loan to apply for, but many students opt for one of the following types of Federal Direct student loans:

•  Federal Direct Subsidized loans help students who qualify for financial need and are attending traditional four year colleges or universities, community colleges, or technical schools. The federal government will pay the loan’s interest while the borrower is in school, during the six-month grace period after graduation, and in the event of student loan deferment.
•  Federal Direct Unsubsidized loans help undergraduate, graduate, and professional school students cover college costs without requiring a demonstration of financial need. However, borrowers are responsible for paying back all the interest accrued on the loan from the time they start attending college onward (although they aren’t required to start making payments until after they graduate).
•  Direct PLUS loans are unsubsidized loans issued for graduate or professional students as well as parents of undergraduate students who are helping them pay for college.
•  Direct Consolidation loans are a way to combine different federal student loans into one single loan so the borrower can commit to one monthly payment under one loan servicer.

How Can I Get Private Student Loans?

For prospective students seeking an alternative to federally-backed student loans, a private student loan is another way to pay for online college. Depending on the lender, there are several options for interest rates, terms, conditions. And in certain circumstances where borrowers have difficulty paying back the private student loan, negotiations might be made with the lender for deferment, forbearance and even refinancing.

With SoFi Private Student Loans, paying for online college just got a whole lot more convenient. Qualifying borrowers can get competitive rates, apply easily online, find flexible repayment options, avoid pesky fees, and get exclusive members-only rate discounts.

The Takeaway

Online college is a form of distance education that allows students to engage in self-regulated learning and acquire a degree outside the traditional in-person university setting. Degrees from online college degrees are considered increasingly credible by employers and HR leaders.

There are several student loan and financial aid options for online college attendees, including federally-backed student loans, financial aid, scholarships, work-study programs, grants and private student loans.

SoFi Private Student Loans help people pay for school with a simple online application process, no hidden fees, exclusive rate discounts and flexible repayment options that fit their budget.

Learn more about private student loans offered by SoFi.



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


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

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 04/24/2024 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).

SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.


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.


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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What You Need to Know About SPACs Before You Invest

SPAC stands for “special purpose acquisition company,” and these entities act as a shell that can raise money in order to acquire another active company that wishes to go public.

Companies that want to have an initial public offering (IPO) can use SPACs to make it happen. SPACs themselves are publicly traded, and some investors are buying SPAC shares in an effort to get in as early as possible on companies going public — but it’s rare that the average investor will have access to SPAC shares.

But SPACs, like many investments, are not something you want to jump into without doing some homework first. In addition, the Securities and Exchange Commission (SEC) has proposed new rules to make SPACs more transparent, and limit conflict-of-interest in these mergers.

What Is a SPAC?

SPACs are legal business entities that don’t have any assets or conduct any sort of business activity. In effect, they’re empty husks. That’s why they’re often called “blank check companies.”

As for their purpose, SPACs can be used to take companies public. So, instead of going through the traditional IPO process, many companies are instead using SPACs to get themselves listed on the stock markets.


💡 Quick Tip: Keen to invest in an initial public offering, or IPO? Be sure to check with your brokerage about what’s required. Typically IPO stock is available only to eligible investors.

SPACs and Acquisitions

As for how a SPAC takes a company public, the process is basically a reverse merger, when a private business goes public by buying an already public company.

Here’s a step-by step:

•   A SPAC goes public, selling shares and promising to use the proceeds to buy another business.

•   The SPAC’s sponsors set their sights on a company it wants to take public — an acquisition target.

•   The SPAC often raises more money to acquire the target. Remember, SPACs are already publicly traded, so when it does acquire a target, the target is absorbed by the SPAC, and then becomes public too.

Recommended: What Happens to a Stock During a Merger?

So, why would a company want to use a SPAC transaction to go public rather than go the traditional IPO route? The simple answer is that it can be much faster and easier.

For instance, a merger between a SPAC and its target can take between four to six months, whereas the traditional IPO route can take 12 to 18 months.

How Do I Invest in SPACs?

SPACs are designed to raise money so that they can acquire their target. To raise money, they need investors, which is why they’re generally publicly traded. In theory, retail investors can invest in SPACs — in most cases, a brokerage account is all that’s required. But a 2022 SEC analysis shows that very few retail investors actually gain access to SPAC shares.

5 Things to Know Before Investing in SPACs

Before you pursue what could be a risky investment, run through this list of considerations:

1. Failure to Find Target

SPACs exist for one reason: To acquire a target company and take it public. But there’s a chance that some could fail to do so — something that prospective investors should take seriously. The clock is ticking, too. If a SPAC does not acquire a target within a specific time frame — typically two years — it could liquidate.


💡 Quick Tip: All investments come with some degree of risk — and some are riskier than others. Before investing online, decide on your investment goals and how much risk you want to take.

2. Investor Dilution

SPAC investors also run the risk that their shares could be diluted, or lose value. Meaning: The folks running the SPAC may throw in additional funding that can erode the value of those shares.

That dilution can happen during the merger process. As the merger takes place, fees are paid, warrants are exercised, and the SPAC’s sponsor receives 20% ownership in the new entity. All this can take ownership from investors’ shares, diluting them.

3. Poor Performance

Some companies that go public via a SPAC transaction don’t do so well after the merger. Their stock values don’t perform as many investors have hoped. This is yet another very real risk that SPAC investors must contend with.

As SPAC targets are private companies, investors can be limited in the amount of research they can do on the targets. Their financial records may be difficult to find. As a result, investors are basically relying on the due diligence of the SPAC sponsor. So there’s an element of trust — and risk — at play.

What investors should know is that many companies that have gone public through a SPAC underperform compared to the broader market at large.

4. Big Names Can Cloud Investor Judgment

It can be easy to get caught up in the hype around certain SPACs. Whether the SPAC itself is targeting a particularly noteworthy company to take public, or if it’s being managed by a big-name investor or famous person, the glitz and glamor may blind investors to certain risks.

It may be fun to think that you’re getting in on an investment with a celebrity. But that doesn’t mean that the investment they’re attached to is necessarily a good one, or the right one for you.

5. Uncertain Future

SPACs, in recent years, were a hot commodity. But since there are some significant risks involved in investing in SPACs, regulators stepped in to make some changes that would protect average investors.

Given the lack of transparency around SPACs and the general fast-and-loose approach that the markets are talking to them, the government and other watch dogs are already calling for some reforms.

Among them: Tamping down on SPAC hype, like protecting investors from misleading information or expectations, enhancing disclosures, and being more forthcoming about the risks to investors.

The Takeaway

There’s a lot to consider about SPACs from an investor’s point of view. But the important thing to remember is that SPACs are speculative, risky investments. Investing in SPACs will likely require a high risk tolerance for most investors, and it’s a good idea that you have your other financial ducks in a row before dedicating any money to it.

Whether you’re curious about exploring IPOs, or interested in traditional stocks and exchange-traded funds (ETFs), you can get started by opening an account on the SoFi Invest® brokerage platform. On SoFi Invest, eligible SoFi members have the opportunity to trade IPO shares, and there are no account minimums for those with an Active Investing account. As with any investment, it's wise to consider your overall portfolio goals in order to assess whether IPO investing is right for you, given the risks of volatility and loss.



SoFi Invest®

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below: Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.
For a full listing of the fees associated with Sofi Invest please view our fee schedule.

Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement. IPOs offered through SoFi Securities are not a recommendation and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation.

New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For SoFi’s allocation procedures please refer to IPO Allocation Procedures.


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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Independent vs Dependent Student: Which One Are You?

When a student fills out the Free Application for Federal Student Aid (FAFSA®) form, it’s important that they understand their dependency status. A student’s dependency status will affect the information they need to report on their FAFSA.

Dependent students have to report both their own and their parent’s information during this process. Independent students will only have to report their own information, the exception being if they are married. In which case, they will provide their spouse’s information as well.

Here’s how it works for independent vs. dependent students.

The Difference Between Independent and Dependent Students

There are a few key differences between independent and dependent students.

What Is an Independent Student?

An independent student meets one or more of the following criteria. They are:

•   24 years old or older
•   Married
•   A graduate or professional student
•   A veteran
•   A member of the armed forces
•   An orphan
•   A ward of the court
•   Someone with legal dependents other than a spouse
•   An emancipated minor
•   Someone who is homeless or at risk of becoming homeless

What Is a Dependent Student?

Basically, a dependent student is any student who doesn’t meet the criteria to be considered an independent student. The U.S. government bases their federal student aid programs on the belief that it is primarily the student and their family’s responsibility to pay for the student’s higher education pursuits.

Even though it may not be the case in reality, dependent students are assumed to have the support of their parents which is why the parents’ information must be included in the student’s FAFSA form. Providing this information gives FAFSA a more complete picture of the family’s financial strength.

Just because someone is considered a dependent student does not mean that their parents have to contribute financially to their higher education costs, but the government assumes that parents will contribute in some way if financially possible.

Determining Dependent or Independent Student Status

While that brief overview begins to paint a picture of what it looks like to be a dependent or independent student, the Federal Student Aid office, which is an office of the U.S. Department of Education, asks key questions that help students determine their official status.

Their answers to the questions on the FAFSA form will help determine whether they are considered a dependent or independent student. The questions do change slightly each year, but are published by the Federal Student Aid office.

These questions include things like:

•   As of today, are you married?
•   Are you a veteran of the US armed forces?
•   At any time since you turned age 13, were both your parents deceased, were you in foster care, or were you a dependent or ward of the court?

These questions can help guide students to determine whether or not they qualify as an independent or dependent student. Essentially, if a student answers “yes” to any of the questions in the FAFSA, they are considered an independent student.

Dependent Students

Students that answered “no” to all of the questions above are considered to be dependent students and while applying for federal student aid must provide information about their parents on the FAFSA form.

Students who are considered a dependent student by the FAFSA but are not in contact with their parents and don’t know where they live, can discuss their situation with the financial aid office at the college or career school they are planning on attending.

Their school’s financial aid administrator will usually be able to help them determine next steps. The same process applies if a student has left home due to an abusive situation. They will fill out the FAFSA form and contact their school’s financial aid office for assistance.

Even if a dependent student doesn’t live with their parents, they still need to provide accurate information about their parents. If their parents won’t provide the information they need, the student risks having their application rejected which may make them ineligible to receive any federal student aid.

Students in these circumstances may be able to qualify for an unsubsidized loan at most, but this option depends on what the financial aid office at their specific college decides.

Even if a student’s parents won’t help pay for college, if they answered “no” to all of those questions, they are still considered dependent.

Independent Students

Students that answered “yes” to any of the above questions are considered to be independent students during the federal student aid process. Independent students do not have to provide information about their parents on the FAFSA form.

When Federal Student Aid Falls Short

Colleges use the FAFSA to determine a student’s federal aid eligibility. While the FAFSA is a great place to start, sometimes federal aid can’t fully cover the cost of a college education. This is where private student loans can step in and cover the expenses that gift aid and Federal loans could not.

Related: A Guide to Private Student Loans

SoFi strongly believes students should exhaust all of their Federal grant and loan options before they look at private loans. Once a student has exhausted their options, they can look at SoFi private student loans which are easy to apply for, allow students to add a cosigner to their application in minutes, and never have fees.

No origination fees, no late fees, and no insufficient fund fees. Ever. With flexible repayment plans and exclusive rate discounts, SoFi Private Student Loans can provide a good option for covering the costs of attending college.

The Takeaway

In order to fill out the FAFSA, students will need to determine if they are an independent or dependent student. For example, students aged 24 and older, those attending graduate school, students who are married, or who have dependents are all generally considered independent students.

For a full list of questions to help you determine whether or not you are a dependent student, check out this resource from the Federal Student Aid website.

The distinction between independent and dependent students is important because they are required to submit different information to the FAFSA. Dependent students are required to submit their parent’s information in order to be considered for federal aid opportunities. This is the case even if a dependent student’s parents are not contributing financially to tuition costs. Independent students are not required to submit any of their parent’s financial information.

In situations where federal aid may not cover the cost of college, private student loans could be an alternative option to look into.

Learn more about SoFi’s competitive student loan rates.



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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.



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.


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

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 04/24/2024 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).

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When Do You Have to Start Paying Back Student Loans?

Figuring out when you have to start paying back student loans can be a bit tricky, but in 2023 it’s more complicated than usual. A pause on all federal student loan payments has been in effect since 2020, but that pause has come to an end.

For new grads, most federal student loans have a six-month grace period after you finish school, during which borrowers don’t have to make payments. The payback terms on private student loans are set by individual lenders, which may or may not offer a grace period.

Whether you’re a new grad or a federal student loan borrower wondering when your paused payments will resume, read on to find out when you have to start paying back your student loans.

Student Loan Payment Pause Ends

In March 2020, at the beginning of the Covid-19 pandemic, the federal government ordered the suspension of payments, interest, and collections on most federally held student loans. Three years later, borrowers will restart making loan payments in the fall of 2023.

When the time comes, borrowers should receive a billing statement from their loan servicer at least 21 days before their payment is due. The statement will provide the latest information on payment due dates, monthly amount, and interest accrued.

What else you can do: Make sure your contact information is up-to-date on your loan servicer’s website and in your StudentAid.gov profile. And to refresh your memory on all things student loans, read our summary of the basics of student loans.

What Is a Student Loan Grace Period?

A grace period is the time you’re given after graduation before you have to start paying back your student loans. The federal government and many private lenders understand that you might not find a steady job straight out of college.

Both Direct Subsidized and Unsubsidized Loans have a grace period. Direct PLUS loans for graduate students and parents don’t have a grace period. Make sure you understand which loan you have so you’re financially ready to start making payments.

While the grace period gives you time to find a job before you have to start making payments, it’s important to understand that unsubsidized federal student loans will continue to accrue interest during the grace period.

Usually, at the end of the grace period, the interest is capitalized onto the principal (or original amount borrowed). This becomes the new value of the loan, and interest continues to accrue based on this new value. However, new federal regulations will eliminate interest capitalization when borrowers first enter repayment.

Recommended: How Much Money to Budget for Student Loans

Federal vs Private Loans: Key Differences

There are two main types of student loans: private student loans and federal student loans. Private student loans are borrowed from a bank, credit union, or another lender. Federal loans are backed by the U.S. Department of Education. Important differences between the two include:

•   Only federal student loans were eligible for the payment pause.

•   Fixed interest rates on federal student loans are generally lower than for private loans.

•   Only federal student loans are eligible for income-driven repayment plans, deferment and forbearance, and federal loan forgiveness.

When to Start Paying Federal Student Loans

As noted above, both direct subsidized and unsubsidized loans offer a six-month grace period where loan payments are not required after a student graduates. Here’s how the payment pause may affect your grace period:

•   Students who graduated in December 2022 or earlier will make their first payment after October 1, 2023.

•   Students who graduated in June 2023 will make their first loan payment in December.

When to Start Paying Private Student Loans

Some private student loans operate with a six-month grace period, similar to federal student loans. But not all. If you have a private student loan, check your loan terms to see if you have a grace period.

If you’re looking to take out a private student loan with a grace period, consider reviewing different lenders to see who has the best terms. Unlike federal student loans, interest rates for private student loans vary based on individual factors including your credit history. Because of this, your interest rate might be higher than it would be with federal loans.

Recommended: Private Student Loans Guide

Can You Get More Time Before Paying Back Student Loans?

If you’ve already graduated and you’re having trouble finding a job in your field, you might be stretching your finances as thin as they go. Even your student loan repayments might not get priority. Before you let late payments get the best of you, consider what options are available.

It may be possible to talk to the loan servicer about delaying your payments a little longer. Your lender doesn’t want you to be late either, and might be willing to work with you.

Extended Deferment or Forbearance

Borrowers with federal student loans might qualify for student loan deferment or forbearance, which allow you to temporarily pause payments. Keep in mind that interest may still accrue while your loans are in deferment or forbearance, depending on the type of loan you hold. You’ll be responsible for that interest regardless of when you start making your payments.

The start date of those repayments isn’t the only thing you should be concerned with. If you have student loans, lowering your payment amount is probably on your mind as well. Not sure what your monthly payment is? Use our student loan calculator to estimate your student loan payments.

Can You Lower Your Student Loan Payments?

March 26, 2025: The SAVE Plan is no longer available after a federal court blocked its implementation in February 2025. However, applications for other income-driven repayment plans and for loan consolidation are available again. We will update this page as more information becomes available.

Depending on the type of loans you have, there are a few different ways you can lower your student loan payments.

Consolidation

If you have many different federal student loans, you might want to consider student loan consolidation. Consolidating your existing loans with a Direct Consolidation Loan means combining all of your federal loans into a single loan and potentially lengthening the term so your payments go down. A longer term, however, means paying more interest over the (now longer) life of your loan.

Your new interest rate will be the weighted average of all your federal loans combined, rounded up to the nearest eighth of 1%, which means consolidation might not lower your interest rate.

Refinancing

Refinancing your student loans is similar to consolidation. However, a refinanced loan uses your credit history to determine your interest rate. Ideally, refinancing will lead to a lower rate. It’s important to note that refinancing student loans forfeits protections that come with federal student loans, like forbearance and income-driven repayment plans.

It’s also possible to lengthen or shorten your loan term. Refinancing can be done with private student loans, federal student loans, or both. Just remember that lengthening the loan term may result in paying more in interest over the life of the loan.

For more on this option, read our take on the advantages of refinancing student loans.

Income-Driven Repayment Plans

If you have federal student loans and have a lower income, you might want to look into Income-Driven Repayment plans. There are a few different IDR options that vary based on your income and family size. And recent changes by the Biden Administration make the plans an even better deal for borrowers.

All IDR plans forgive the remaining balance on your loans either 20 or 25 years after you begin paying the loan back. This could be an option to consider if you are a recent grad. Note that while the remaining balance is forgiven at the end of an IDR loan term, that amount may be considered taxable income by the IRS.

What Happens if You Don’t Start Paying Back Student Loans?

If you don’t start paying back your student loans, you can face some pretty serious financial consequences. Your loan will become delinquent after the first day of missed payments. Once you’re 90 days late making a payment on your federal loans, your loan servicer will report the delinquency to the credit reporting bureaus and your credit score will take a hit.

If you have a private student loan, your lender may report you to the credit reporting bureaus after just 30 days. A lower credit score can make it more difficult to secure credit and loans in the future, and if you do get a loan, it might come with less favorable terms and a higher interest rate.

Student Loan Default

After 270 days, your federal loans will enter default. Private loans may default after 120 days, and Federal Perkins loans can enter default immediately after you miss a payment.

Once you’re in default, your credit will take another hit. You might also be subject to having your wages garnished (though the rules on this are different when it comes to federal vs. private student loans).

In addition to wage garnishment and damage to your credit, you may also experience the following negative consequences:

•   Late fees. For example, federal loans that are 30 days late may encounter late fees of 6% of the amount due.

•   Loss of eligibility for loan deferment or forbearance once you default on federal loans.

•   No longer able to choose your repayment plan for federal loans.

•   The government may withhold your tax refund if you fail to pay federal loans.

•   Loss of eligibility for financial aid.

The Takeaway

The payment pause on federal student loans has ended. If you graduated in or before December 2022, your first federal student loan payment will be due sometime after October 1. If you graduated in June 2023 or later, your first payment will be due after six months. Your loan servicer will provide you with a billing statement at least 21 days before your first payment is due. If you can’t afford to resume your monthly payments, federal loan holders have options: deferment, an income-driven repayment plan, or refinancing. Some private student loans also offer grace periods; check with your loan servicer to find out.

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.


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 FOREFEIT YOUR EILIGIBILITY 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 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.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .


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.


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.

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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