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Credit hours are the building blocks of a college career. They measure progress, and define full- and part-time status and degree types such as bachelor’s and master’s. And these factors determine federal aid eligibility.

A credit hour is defined as one classroom hour and two hours of student work per week. Students who take 12 or more credit hours a semester are considered full-time. University semesters are a minimum of 15 weeks.

What Is a Credit Hour?

A credit hour is a system to measure college course loads. They were invented in 1906.

According to Encyclopedia Britannica, the Carnegie Foundation created the credit hour system to determine how to give scholarship funds to colleges. However, it quickly became a useful tool for universities to measure higher ed programs and student progress. Nearly every U.S. university adopted the system within six years.

Credits are also key in accreditation, an evaluation process that ensures a college’s academic merit. It’s granted to universities that have met minimum credit requirements and other academic standards.


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1 Credit Hour Is Equal to How Many Hours?

One credit hour is equal to one hour of classroom or direct faculty instruction and at least two hours of out of class student work per week. That means you can expect to spend three hours of work and classroom instruction per week in a one-credit course.

How Many Hours of Study Time per Credit Hour Online?

Credit hours are no different in-person than online, depending on the type of online course. There are two types: synchronous and asynchronous programs.

Synchronous programs are virtual classes that students can attend in real time. These courses may involve digital lectures, class discussions, presentations, and other styles of scheduled interactive learning. Students also work together outside of class, whether virtually or in-person. This type of program offers ease of access.

In asynchronous programs, students access pre-recorded classes and forums on their own time. Students in these programs set their own pace and manage coursework completion deadlines. Virtual attendance is not required and students may communicate with staff and their peers in board-style forums and email.

Synchronous programs have a similar structure to in-person college classes — and therefore have similar credit hour requirements. Some universities suggest more study hours for online credits. For instance, the University of North Carolina suggests four to five hours of study time each week per credit for a bachelor’s degree program.

Asynchronous programs, on the other hand, have more loosely defined requirements for credit courses. Students meet program requirements by fulfilling coursework needs on deadline.


💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too.

Credit Hour Calculator

To determine total time spent on classes in a semester, add the credits of all your courses. Multiply that number by two hours, or more depending on your university’s requirements. Then multiply that total with the weeks in a semester.

Courses can be one to six credit hours. Below is an example credit hour calculator chart to determine total hours spent on one or more credits. Rice University has a great example of a chart that converts credits to study time.

How Many Credit Hours Do You Need to Graduate?

The credit hours you need depend on the degree type — but the federal minimum is the same for all. The range of credit hours required also varies by major, so be sure to check with your registrar that you have all the information you need.

Higher education programs include associate, bachelor’s, master’s, professional, and doctorate degrees. Depending on the degree, students can expect to complete around 30 to 120 credit hours.

Bachelor’s Degree Credit Hours

Bachelor’s degrees are generally 120 credits minimum and usually take four years to complete. Schools that operate on a quarterly basis (four terms a year), usually require 180 credits to graduate.

Students enrolled in a bachelor’s program complete core curriculum and various credit hour types: general education, major/minor, and elective credits.

General education courses are required courses for a degree. They often cover foundational subjects such math, English, and sciences. However, the core curriculum might vary by major. For instance, a student majoring in marketing might take intro economics courses, whereas an architect student may take intro art history courses.

Major and minor credit hours are classes related to a student’s field of study. They are categorized into lower- and upper-division credits. Students must complete lower-division courses in order to enroll in upper level courses. Internships may also be mandatory and are converted into credits (up to six).

Finally, bachelor’s programs require elective credits — courses unrelated to a student’s major and general requirements. Students sign up for courses out of interest or to complement their major.

Recommended: What Is the Difference Between BA and BS Degrees?

Master’s Degree Credit Hours

A master’s degree can range from 30 to 60 credits, and usually lasts two years. Students complete a thesis or project at the end of the program.

Master of Arts (MA), Master of Science (MS), and Master of Business Administration (MBA) are common types of masters, but vary widely in credit requirements. MAs and MSs tend to be 30 credits, while MBAs can take up to 60 credits to complete.

How Many Credit Hours Does a Course Have?

As mentioned, a college class must be at least one hour of classroom instruction and two hours of student coursework per week — the federal minimum. Courses can range from one to six credits — but typically are three to four credits.

How Do Semester Credit Hours Influence GPA?

With credit hours and GPAs, the general rule is this: More credits are better.

Your weighted GPA point values determine your GPA — where the weights are the number of credits for each class. To determine your college GPA with credits, multiply your GPA Point Value with the course’s total credits. Then divide the GPA point value total by the credit total.

For example, if you score an A in your three-credit chemistry class, it has more impact on your overall GPA than the A in your one-credit photography class. Below is an example of the impact of an 18-credit semester and a 12-credit semester on GPAs.

If you score all As in your three-credit courses, but all Bs in your one-credit courses, you still walk away with a 3.75 GPA.

In contrast, if all your one-credit courses are As, and three-credit courses are Bs, you end up with a lower GPA. The weight of the courses’ credits impacts your GPA.

What Is the Cost per Credit Hour?

The average college credit costs $477 — or about $1,431 per 3-credit class, according to the Education Data Initiative. Private four-year universities charge $1,200 per credit, or $3,600 for a three-credit class. These averages exclude Cost of Attendance (COA) such as room and board, books, and daily living expenses.

University tuition inflation has an impact on figures too. In 1963, the cost per credit was $21 per credit hour, or $187 adjusted for inflation. That’s a 255% increase to today’s credit hour rate of $477!

Recommended: What Is the Average Cost of College Tuition?

Paying for College

Higher education is a substantial spend, so it’s worth researching ways to earn aid and cut costs.

Determine what your family is expected to cover, as measured by the Student Aid Index (SAI). Apply for scholarships and grants from your school, fill out the FAFSA®, or Free Application for Federal Student Aid, which is used to determine federal aid, and look into cutting expenses like room and board.

Finally, look into undergraduate student loan options and understand the difference between private student loans vs federal student loan options. Federal loans often have lower interest rates, more flexible repayment plans, and offer subsidized loan options for students who demonstrate financial need. However, there is an annual borrowing maximum for students.

Private lenders offer competitive rates for qualifying borrowers. Repayment plans are generally determined by the individual lender. Unlike most federal student loans, private lenders will generally evaluate a borrower’s credit score and history, among other factors. Potential borrowers may be able to apply with a cosigner if they aren’t able to qualify for a private student loan on their own.

While private student loans can be a powerful tool to help fill financing gaps for college, they don’t always offer the same benefits as federal student loans, so are generally borrowed as a last-choice option.

Recommended: How to Pay for College

The Takeaway

Understanding how universities build programs with college credits will help you understand its cost. College credits define degree types, such as master’s and bachelor’s programs. The amount can also determine a student’s status and progress. Finally, these dictate the eligibility rules for federal and private lenders.

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

Photo credit: iStock/asbe

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

SoFi 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.

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.

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

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

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Military members, veterans, and their families have special opportunities when it comes to funding higher education. Given the high cost of attending college, they’re well worth checking into.

Find out about student loans for military dependents: children, spouses, and sometimes other relatives of active duty service members.

What Are Student Loans?

First things first: What are student loans, and how do student loans work?

Student loans are a type of financial product wherein a bank or other lender gives a student up-front money with which to pay for college and other educational expenses. Student loans can be used to cover tuition, textbooks, and even living expenses such as housing. Student loans are available through the government as well as through private lenders, and can be taken out by parents or students themselves.

Student loans, like all forms of debt, come at a cost: Interest accrues from the time the first loan check is disbursed. In the case of Direct Subsidized loans, the U.S. government covers the interest so long as the student is enrolled at least half-time and for the first six months after the student stops attending.

Although student loan interest rates tend to be lower than, say, credit card interest rates, the charges can still rack up over time. This is part of the reason Americans are saddled with a whopping $1.76 trillion in student loan debt.

Recommended: Using Student Loans for Living Expenses and Housing

Who Is a Military Dependent?

Military dependents are relatives of an active-duty service member, or sometimes a veteran, who can qualify for benefits based on their family member’s service.

Some family members, such as military spouses and children under the age of 21, automatically qualify as dependents. Other family members, such as parents and adult children, may also qualify if they meet certain criteria. Military dependents may receive death benefits, low-cost housing, and other discounts due to their status.


💡 Quick Tip: Make no payments on SoFi private student loans for six months after graduation.

Financial Aid Service Organizations for Military Dependents

Here are some of the financial aid options open to military members and their dependents.

Government-Sponsored Financial Aid

For most students, including military dependents, the government is the first place to turn for financial aid: Along with the opportunity to take out Subsidized Direct Loans, you may be eligible for grants and scholarships thanks to your service or your family member’s. To apply for federal aid, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA®) annually.

For instance, if you’re under 24 and your parent or guardian died in service in Iraq or Afghanistan after 9/11, you may qualify for a federal Pell Grant or Iraq and Afghanistan Service Grant, both of which do not need to be repaid.

If you already have federal student loans, you may also be eligible for military student loan forgiveness, depending on the type of loans you have and what you or your family member’s service history looks like.

Additionally, the Army and Navy Reserve Officers’ Training Corps, or ROTC, offers no-cost scholarships at over 1,000 colleges across the United States. See the official Federal Student Aid website (StudentAid.gov) for full details.

Recommended: I Didn’t Get Enough Financial Aid: Now What?

American Legion

The American Legion offers college funding to the children of veterans who died or became disabled as part of post-9/11 service through their Legacy Scholarship program (Legion.org/Scholarships/Legacy). The scholarship awards up to $20,000 and can be renewed up to six times.

AMVETS

AMVETS teams up with corporate sponsors to offer scholarships of up to $5,000 to veterans and military spouses who are interested in pursuing skilled trades, such as carpentry, electrical engineering, and plumbing. The program, called the Generation T Scholarship (AMVETS.org/Generation-T), is offered to the spouses of deceased veterans but not their children.


💡 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.

Paralyzed Veterans of America

Paralyzed Veterans of America offers scholarships of up to $2,500 for full-time students and $1,000 for part-time students to its members, their spouses, and their dependent children under 24 years of age. Awardees may apply a second time, but are only eligible to receive the scholarship twice in a lifetime. (PVA.org/Find-Support/ Scholarship-Program/)

Veterans of Foreign Wars

The organization Veterans of Foreign Wars also offers student veteran support in a variety of ways, including its Sport Clips Help A Hero Scholarship, which awards qualified applicants up to $5,000 per semester (per family), as well as the Student Veteran Support Grant, which is designed to be used for events and outreach efforts that assist veterans who are currently enrolled in college. The grant can be used for up to $500 per event up to twice per fiscal year for a total of $1,000. (VFW.org/ Assistance/Student-Veterans-Support)

Recommended: Types of Federal Student Loans

Private Student Loans for Military Dependents

Finally, military dependents may also choose to look into private student loans to fund their education.

Private student loans are, as their name suggests, not backed by the government and are instead offered by private banks, credit unions, and lenders. They do come with certain advantages — for example, they generally don’t carry the same lifetime maximums as publicly funded student loans, and you may have more flexibility when it comes to your loan term and repayment schedule.

However, private student loans sometimes carry higher interest rates than federal loans do, and your credit report will be pulled in order to qualify you — which isn’t the case for loans from the government. Because private loans lack the borrower protections afforded to federal student loans, they are most often considered as a last resort option.

The Takeaway: Explore Private Student Loan Options With SoFi

As a military dependent, you have a lot of options to consider when it comes to financial aid. Be sure to look into scholarships offered by the American Legion, AMVETS, Paralyzed Veterans of America, and the VFW. Military dependents should also apply for a Pell Grant, which doesn’t need to be repaid. And federal subsidized student loans give borrowers a break on some accrued interest.

For some, private student loans offer an attractive combination of accessibility and flexibility. (Keep in mind, though, that private student loans tend not to be eligible for student loan forgiveness and other programs.)

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

FAQ

Do military dependents get free college?

Not automatically, but there are programs specifically designed to help military members and their dependents pay for college.

Does the military pay spouses’ student loans?

Not directly, but military spouses may be eligible for federal student loan forgiveness if their loans are from the federal government.

Can military dependents get FAFSA?

Yes, military dependents can qualify for federal financial student aid using the FAFSA, or Free Application for Federal Student Aid. The FAFSA is a good first place to turn when looking for financial aid because it can match you with low-cost, need-based options like Direct Subsidized Loans.

Photo credit: iStock/Liudmila Chernetska

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

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

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

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

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Applying for federal aid is a crucial step most high school students take while transitioning to college life. Parents going through the college admissions process for the first time, though, may not realize that they also play a huge role in helping their children apply for grants and scholarships through the Free Application for Federal Student Aid or FAFSA®.

Applications for the 2023-2024 round of FAFSA opened on Oct. 1 and will remain open until June 30, 2024. If you’re looking for facts about FAFSA that will help your child apply for college aid during the 2023-2024 academic year, we’ve compiled some of the most important information on how you can help your child during the FAFSA process.

Recommended: FAFSA Guide

FAFSA Facts and Tips

Filling out FAFSA for the first time? These facts and FAFSA tips can help you prepare for the application process and offer suggestions for getting the most aid.

1. FAFSA Is Required to Receive Government Student Loans

For those who may be new to the financial aid process, FAFSA is the form students fill out to apply for federal financial aid. Just over 18 million students fill out the FAFSA each year. Your child won’t be eligible for government-funded college aid, such as federal loans or grants if they don’t apply.

Recommended: 12 Steps to Filling Out the FAFSA Form for School Year 2023-2024

2. Your Child Could Qualify for Grants by Filling Out FAFSA

While you can get subsidized or unsubsidized loans through FAFSA, your child may also be eligible for grants. One common federal grant is the Pell grant, which is awarded to first-time undergraduate students who show exceptional financial need, such as coming from a low-income family.

Recommended: Types of Federal Student Loans

3. It Determines Work-Study Eligibility

Federal work-study is a way for students to earn income at a part-time job while in college. These jobs can be on or off-campus and vary by school, although not all schools participate in the program. You have to fill out FAFSA to determine if you’re eligible for work-study programs.

4. Some Schools Use FAFSA to Determine What Aid They Offer

If the schools your child applies to offer their own aid, such as need-based scholarships, they may use FAFSA to determine eligibility. You may want to check with the schools your child is applying to and ask if they have a separate application for internal scholarships and grants.

5. Most Applicants Under Age 22 Are Considered Dependents

Most students under the age of 22 who are neither married nor parents themselves won’t be able to apply as an independent student . As a result, for most incoming freshmen, their parents’ income is counted in the determination of financial need.

Recommended: Independent vs Dependent Student: Which One Are You?

6. Your Child Needs Your Information to Apply

If your child is filing as a dependent, then they’ll need some basic information about your finances, such as your income and paid taxes. You may also elect to apply for a Parent PLUS loan, which can help cover your child’s educational expenses if they don’t receive enough in loans and grants to cover costs. Note that you may need additional information to apply for a Parent Plus loan.

7. High-Income Families May Want to Still Apply

If your family is middle- or upper-class, you may wonder if your child will receive any FAFSA aid. However, applying is free, and family income is just one of many factors considered during the application process. Additionally, your child’s school still may require FAFSA to be eligible for institutional aid, so it may be worth applying for even if you don’t think your child will need or receive aid.

8. Grades Don’t Affect FAFSA Eligibility

FAFSA does not have a GPA requirement to apply. However, your child may want to keep in mind that they could lose any aid given to them through FAFSA if they have poor grades for multiple semesters after they receive the aid.

9. Deadlines May Differ by State and School

While the FAFSA doesn’t close until June 30, 2024 for the 2023-24 academic year, FAFSA application deadlines may vary by state and school. State and school deadlines may close prior to the federal deadlines. If you’re not sure what deadlines apply to your student, consider checking with the financial aid office of each school your child applies to and ask what their FAFSA deadlines are.

10. Having Multiple Kids in College No Longer Affects Financial Aid Awards

Since 2021, the number of children in a family who are in college or applying to college no longer affects aid eligibility. Before, families with multiple children in college may have qualified to receive more aid. This is one of many changes throughout the FAFSA Simplification Act, which aims to simplify the FAFSA form and therefore hopefully encourage more families to fill out FAFSA.

11. Expected Family Contribution Is Also Changing

Expected family contribution (EFC) is an estimate of how much FAFSA believes families can contribute to the cost of a student’s education. However, as part of the FAFSA Simplification Act, EFC will be replaced with the Student Aid Index, or SAI, starting on July 1, 2024 (for the 2024-2025 academic year). While that may sound far off, a freshman during the 2023-2024 academic year will be a sophomore when SAI is put into effect.

12. FAFSA Is Changing the Process for Children of Divorce

Before the new simplified FAFSA, in the case when a child’s parents are separated, the custodial parent’s information was included on the form. However, with the new changes, the parent who provides the most financial support to the student is responsible for filling out the FAFSA.

Recommended: How much FAFSA Money Can I Expect?

13. Your Child Will Need Their Social Security or Alien Registration Number

As your child prepares to fill out the FAFSA, they’ll need their Social Security or Alien Registration number.

14. Have Nontaxable Income at the Ready

One question that may trip up parents is what FAFSA considers nontaxable income. For FAFSA, that generally includes (but is not limited to):

•   Workers compensation

•   Disability benefits

•   Welfare benefits

•   Social Security income

•   Veteran’s benefits

•   Military or clergy allowances (if applicable)

•   Foreign income not taxed by any government

15. Your Child May Need to Report Grants and Scholarships

Most first-time college students won’t need to report any grants or scholarships they received. However, they may if they had to report them on their taxes, such as:

•   AmeriCorps benefits, such as living allowances or awards

•   Taxable work-studies, assistantships or fellowships

•   Combat pay, special combat pay, or cooperative education program earnings

•   Other grants or scholarships reported to the IRS

If you have any doubts about what types of grants may be taxable, consider consulting a tax professional.

16. Have Bank Statements Available

To fill out FAFSA, you’ll need bank statements for both you and your child. This information helps determine how much aid your child will be eligible for.

17. You Don’t Have to Have a Social Security Number to Sign the Form

If you’re filing for FAFSA online, you can create a federal student aid (FSA) ID . This is simply your login and password. Your child can create one here . But if you don’t have a Social Security number, you can print out the signature page of the form, sign it, and mail it in.

18. You Don’t Need to File Taxes Before Submitting FAFSA

If you filed for an extension for your tax return, you can use your W-2 or 1099 statements. But you will need to update FAFSA once you file. This is because which tax bracket you’re in can impact how much aid your child is eligible for.

Recommended: What Tax Bracket Am I In?

19. You’ll Need to Have a List of Assets Ready

FAFSA uses parental assets to help determine aid eligibility. You’ll need to know how much in assets you have, which include (but are not limited to):

•   Money in cash, savings, and checking accounts

•   Non-retirement investments (such as stocks and mutual funds)

•   Businesses that have more than 100 full-time equivalent employees and you and your family have minority stakes in

•   Investment farms (in other words, you don’t live on and operate the farm)

•   Other investments, such as real estate and stock options

20. 529 Plans Are Also Considered Assets

When filling out information about assets, you’ll also need to provide the value of all 529 College Savings Plans you own — including the accounts for siblings. Also, if your child owns a 529 plan (often called an UGMA or UTMA 529 plan), you will need to report it as a parental asset – and not as the student’s asset. (Please note, however, that if your child owns a UGMA or UTMA account that is not a 529 plan, you don’t list it as an asset — your child does as their asset.)

21. Your Primary Home Doesn’t Need to Be Listed as an Asset

One common FAFSA mistake is listing your primary home as an asset. However, FAFSA does not require you to do so. In fact, listing it as an asset can decrease the amount of aid your child receives.

22. You Don’t Need Your Retirement or Insurance Information

FAFSA also doesn’t count retirement or insurance accounts as assets. Again, including them can inflate the number of assets you have and therefore may decrease the amount of aid your child is offered.

23. You’ll Need to Include Each School Your Child Is Applying To

When you and your child fill out the FAFSA, you’ll want to have a list of all the schools your child may be interested in applying to. You’ll need each school’s federal school code to add them to the list of schools you want your FAFSA information sent to, although you can also search for this information on the form itself if you can’t find it on the school’s website. It may be wise to include schools your child isn’t sure they want to apply to yet since it’s easier to simply add the school to the list now than having to send the school your FAFSA information later.

24. Schools, Not the Government, Will Give You Financial Aid Updates

Part of the reason you’ll need to send your FAFSA to schools your child is considering applying to is because schools, not the government, send out financial aid packages. As such, each school your child applies to may offer a different financial aid package.

25. Skipping Information Can Be Costly

Before hitting submit, you might want to double check that every section of the FAFSA is filled out (and accurate). Skipping FAFSA sections may result in delays in your application being processed, errors that prevent you from submitting, or even a decrease in the amount of aid offered.

26. Your Child Will Need to Take Student Loan Exit Counseling

While filing FAFSA or talking to your school’s financial aid office, you may hear about something called student loan exit counseling. This is mandatory for anyone who gets federal student loan aid. Counseling is simply an online module that will help your child navigate how the student loan repayment process works. A reminder will be sent to your child’s email in their last year of school about when this exit counseling is due. However, you and your child may want to consider reviewing student loan exit repayment options before the counseling is due to ensure they pick the best option based on their financial situation.

27. File Early to Get the Most Aid

While it may seem like you have a ton of time to fill out the FAFSA, it may be best to complete it sooner rather than later. Delaying can mean financial aid for your state or school dries up before your child can even be considered for it. Additionally, knowing how much aid each school is offering your child may help them when deciding on which school to attend.

28. You Could Be Selected for FAFSA Verification

After your child receives their student aid report, they may get a message saying they were selected for verification. FAFSA verification is used by some schools to simply verify that students’ FAFSA information is accurate. Some schools randomly select people to be verified, some verify all students, and some may elect not to verify any students.

Recommended: 14 Must-Know College Financial Aid Terms for Parents

29. You Can Appeal Your Aid Package

Once your child has their financial aid packages, they may find that they were offered less than they expected or hoped for. If your child’s dream college didn’t offer enough aid (or perhaps even didn’t offer them any aid), they may be able to appeal for more financial aid. This process may be especially important if your financial situation has changed since you and your child first applied for FAFSA. While schools may deny the request, it doesn’t cost you or your child anything but time to ask for more aid.

30. You Can List Unusual Circumstances That Affect Your Finances

Another way to try and increase your financial aid package is by listing unusual financial circumstances both on your FAFSA and in an appeal letter to schools you’re applying to. Some common unusual circumstances include (but are not limited to):

•   Having tuition expenses in elementary and/or secondary schools

•   Experiencing unusual medical or dental expenses not covered by insurance

•   Having a family member become unemployed recently

•   Experiencing changes in income and/or assets that could affect aid eligibility

31. You’ll Have to Reapply Every Year

Once you’ve filed your FAFSA, you may want to keep your login information in a safe place. You’ll need that information to file for FAFSA every year your child is in school, and losing your FSA login information may delay your ability to apply next year. You may also want to set a reminder on your phone or calendar to apply next year, although FAFSA will send you an email reminder when next year’s FAFSA is open.

The Takeaway

Filing for FAFSA is an important first step in helping your child pay for college. Knowing how FAFSA works and how to optimize the amount of aid your child receives can help increase the amount of federal aid they’re offered.

However, if their financial aid package isn’t enough to cover college costs, they may want to consider private student loans. Private student loans aren’t required to offer the same borrower protections as federal student loans, and are, therefore, generally considered as an option only after all other sources of funding have been exhausted.

If you’re considering private loans to pay for college, you may want to review the differences between private and federal student loans to ensure that you and your child choose the best options for them to pay for college. SoFi offers private student loans that have no hidden fees and allow borrowers to choose between four repayment options.

Photo credit: iStock/wagnerokasaki

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

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

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

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

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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When you want to improve your income potential or change your career to offer your kids more opportunities, you’ll have to manage a myriad of responsibilities — possibly with a full course load to boot. Going back to college can demand a lot from moms physically, mentally, and financially.

The financial impact of going back to school as a mom can seem staggering, so consider scholarships for moms as one way to make an impact.

Keep reading to learn more on scholarships for moms, scholarships for single moms, and scholarships for working moms. We’ll also walk through how to find these scholarships and look into other ways of paying for college.

Who Is Eligible for Scholarships?

Almost anyone can get a scholarship, but you must meet the eligibility requirements set forth by the scholarship guidelines. Some scholarships will require students to be independent students. Independent students are defined by the U.S. Department of Education as those who are:

•   At least 24 years old

•   Married

•   Graduate or professional students

•   Veterans of the U.S. armed forces

•   Active duty members of the armed forces

•   Orphans, those in foster care, or wards of the court

•   People who have legal dependents other than a spouse

•   Emancipated minors

•   Homeless or at risk of becoming homeless

However, non-governmental organizations may have other requirements. Therefore, it’s important to take a look at the qualifications for each individual scholarship.

Recommended: A Guide to Unclaimed Scholarships and Grants

Types of Scholarships for Moms

Nontraditional students interested in receiving financial aid should first submit the Free Application for Federal Student Aid (FAFSA®). Colleges and universities will receive the results of the FAFSA and use that information to inform their aid decisions. The FAFSA is the first step in applying for federal financial aid, including grants, federal student loans, work-study, and other institutional aid. These could help you offset the cost of tuition and other education-related expenses. The FAFSA must be filled out each year the student is enrolled in school.

Other scholarships may require you to apply independent of the FAFSA — that is, the results of the FAFSA may not matter. However, many mom scholarships may require you to prove that you earn a low income. (Low-income thresholds depend on the size of your family and number of children, according to the United States Census Bureau.)

You can tap into many types of scholarships for moms, including single mom scholarships, scholarships for working moms, and other types of scholarships for women going back to college, as outlined below.

Single Mom Scholarships

Yes, organizations offer scholarships for single moms! Take a look:

Soroptimist’s Live Your Dream Award

If you provide the primary financial support for yourself and your dependents, you can qualify for the Soroptimist’s Live Your Dream Award, as long as you show evidence of financial need. You must also enroll or be accepted into a vocational/vocational skills training program or undergraduate degree program and be motivated to achieve your education and career goals.

Applicants must live in one of the following Soroptomist territory countries: Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Ecuador, Guam, Japan, Korea, Mexico, Northern Mariana Islands, Palau, Panama, Paraguay, Peru, Philippines, Taiwan, United States of America, or Venezuela.

Award amount: $1,000 to $10,000
Deadline: Application open from August 1 to November 15

Patsy Takemoto Mink Education Foundation for Low-Income Women and Children Education Support Awards

The Patsy Takemoto Mink Educational Foundation for Low-Income Women and Children
Education Support awards offer college scholarships for single moms to low-income women with children who are pursuing education or training.
​
The criteria for the award state that you must:

•   Be a woman at least 17 years of age.

•   Be a mother with minor children.

•   Pursue your first degree at a post-secondary education level (vocational, associate’s, bachelor’s, master’s, or doctoral degree) — this degree must add to the level of education accomplished (such as a bachelor’s degree after an associate’s degree or an advanced degree after a bachelor’s degree).

•   Pursue a degree or credential at an institution that does not discriminate on the basis of sex/gender, LGBTQ+ status or identity, race or ethnicity, religion, disability, or immigration status.

•   Enrolled in a nonprofit, accredited institution or program in the U.S.

•   Be low-income (earn less than $20,000 total in family income for a family of 2, less than $24,000 for a family of 3, or less than $28,000 for a family of 4).
​
​​Awardees are selected based on financial need, personal circumstances, educational path, vocational and occupational goals, service/activist, and/or civic goals.

Award amount: $5,000
Deadline: Information about the 2024-25 application will appear in May 2024.

Rosenfeld Injury Lawyers LLC Single Mother Scholarship

Rosenfield Injury Lawyers LLC offers two scholarships to single mothers returning to school, one for a single mother who will attend an undergraduate or community college program and another for a single mother who will attend accredited law school.

To qualify, you must write a 500+-word essay about the advantages of returning to school while raising children and how motherhood has prepared you for the challenges of becoming a student. You must also:

•   Submit a copy of your transcript that displays your grade point average (GPA) — unofficial transcripts are accepted.

•   Authorize Rosenfeld Injury Lawyers LLC to post the material on its website and social media channels.

You may use the scholarship money for education-related expenses, including tuition and registration, textbooks, and other fees and supplies.

Award amount: $1,000
Deadline: TBD for the 2024-25 academic year


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

Scholarships for Working Moms

If you’re a working mom, you may want to first consider your current job’s scholarship opportunities. Some companies offer scholarships and/or education reimbursement for their employees.

Company foundations usually create scholarship programs for employees, employees’ children or relatives, or the children of deceased or retired employees. While not necessarily just geared toward working moms, they can still provide a major financial benefit of working and going to school. Visit your company’s human resources for more information about scholarships or other educational assistance you can qualify for. Note that some companies allow employees to take advantage of their education benefits right away, but yours may require you to work at your company for a specified length of time.

Take a look at the scholarship below, geared specifically for working moms.

Job-Applications.com Working Parent College Scholarship Award

Working parents currently in college or another accredited postsecondary educational institution can qualify for the Job-Applications.com scholarship by meeting specific criteria. You must:

•   Be enrolled as a part-time student who is in an accredited U.S. post-secondary educational institution (college, university, or trade school, or a similarly accredited program).

•   Have a current cumulative grade point average of 3.0 or higher at that institution.

•   Have worked an average of at least 12 hours for each of the previous four weeks during the application process.

•   Be a residential parent of at least one minor child.

•   Be a legal U.S. resident.

•   Be at least 18 years of age or older.

You must also submit a 600- to 1,000-word essay about the keys for balancing parenthood, working, and succeeding in college.

Award amount: $1,000
Deadline: TBD for the 2024-25 academic year

Scholarships for Moms Going Back to College

Moms pursuing graduate work may also need help finding grad school scholarships.

Society of Women Engineers Scholarship Program

Those who identify as a female/woman and who study at a community college, bachelor’s or graduate degree program with the intention of preparing for a career in engineering, engineering technology, or computer science may qualify for the Society of Women Engineers Scholarship Program .

To qualify, you must:

•   Plan to study at an undergraduate/community college or plan to get your master’s or Ph.D. at an ABET-accredited program.

•   Major in engineering, technology, or computing.

•   Must attend full time (though exceptions are made for reentry and nontraditional applicants).

•   Not be fully funded for tuition, fees, books, or the equivalent.

Award amount: $1,000 to $10,000
Deadline: TBD for the 2024-25 academic year

Chrysalis Scholarship

The Chrysalis Scholarship , funded by the Association for Women Geoscientists, helps women who experienced an interruption in their education due to raising children or other life circumstances and need financial help to obtain their graduate degrees in a geoscience-related field thesis or dissertation. The scholarship may cover drafting expenses, child care, defense travel, late-stage research and analyses, and more.

To qualify, you must:

•   Be a graduate student who has had an educational interruption due to life circumstances.

•   Approach the completion of your geoscience degree.

•   Plan to contribute to the geosciences and the larger world community.

Application materials include a letter of application in which you describe your background, career goals, and objectives, how you plan to use the scholarship, and the nature and length of the education interruption. You must provide letters of reference from your thesis/dissertation advisor and another scientist of your choice.

Award amount: $2,000
Deadline: TBD for the 2024-25 academic year


💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too.

Applying for Scholarships for Moms

When you’re applying for scholarships, it’s important to get organized. Make a list of due dates on your calendar and estimate how much time it’ll take you to complete each application. Research scholarships early so you don’t miss out on scholarship opportunities.

Read the eligibility guidelines carefully. Contact the organization sponsoring the scholarship if you have specific questions related to eligibility. Some scholarships may not get many applicants, so if you meet almost all the requirements, ask if you can apply anyway. You might be pleasantly surprised to find that the committee or organization will allow you to apply.

Finally, follow all the instructions. Stick to the word limit for the essay and send supporting materials as requested.

Recommended: What a Merit Scholarship Is and How to Get One

Finding Other College Scholarships for Moms

Put your feelers out for every type of scholarship that might apply to you — they don’t even need to be strictly “mom-related.” If you qualify in another way, such as for your interest in zoology or criminology, keep those options open. Look into the following sources for scholarships, as well:

•   Colleges and universities: Colleges and universities offer many different types of scholarships and grants. Make an appointment with an admission counselor and/or the financial aid office to learn more about scholarships you can apply for at each institution you’re interested in attending.

•   Charity organizations: Look into organizations in your community, such as the local Rotary Club. You just might scoop up a few scholarships based on the organizations you know. Ask around!

•   Professional organizations: What do you plan to major in? Check to see if professional organizations of your chosen industry offer scholarships and grants. It’s also possible to get internships and careers from these professional organizations right out of the gate after graduation.

Recommended: How to Pay for College

Other College Financing Methods

You might need other sources of financial aid to close the cost gap after scholarships for college are factored in. Generally, the first step, as mentioned, is filling out the FAFSA. The FAFSA is completely free and offers other financial aid beyond scholarships, including need-based and non-need-based federal financial aid.

Other options for paying for college include:

•   Federal grants: Students who demonstrate financial need may qualify for federal grants. You do not need to pay these back. For example, you could qualify for a Federal Pell Grant or the Teacher Education Assistance for College and Higher Education (TEACH) Grant. Take a look at the eligibility requirements to determine whether you qualify.

•   Federal student loans: You may qualify for federal student loans through the U.S. Department of Education and through the William D. Ford Federal Direct Loan Program. Direct Unsubsidized Loans are non-need-based, while Direct Subsidized Loans are awarded to students who demonstrate financial need.

•   Private student loans: Federal student loans, scholarships, and other funding sources may not fully cover the cost of attendance for students. In that case, students may tap into private student loans. However, private student loans do not have the same benefits or borrower protections as federal student loans (like deferment options or the ability to pursue certain federal loan forgiveness programs). For this reason, private student loans are generally pursued only after all other options have been thoroughly considered.

Recommended: Types of Federal Student Loans

The Takeaway

Scholarships for moms going back to college is one way to help fund your degree. You can find scholarships by asking your college or university about their options, looking into your local community, asking professional organizations in your field, and using an online scholarship search tool. Other options for paying for college include federal student loans, grants, and work-study.

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.

Photo credit: iStock/Portra

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

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

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.

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

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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A Pell Grant is a type of federal funding that’s awarded to eligible undergraduate students who have exceptional financial need, and is provided to help pay for their education. In general, unlike a loan, Pell Grants usually don’t need to be repaid. The maximum amount that you can receive varies each year, with the 2023-24 school year’s maximum being $7,395.00.

Factors that play a role into what you might receive include your Expected Family Contribution (or EFC), the cost of attending your specific school for your specific program, whether you’ll be attending full-time or part-time, and whether you intend to attend school for the entire academic year.

Applying for a Pell Grant

If you believe you might qualify for the Pell Grant, then step one is the same as for every type of federal funding for students — to fill out the Free Application for Federal Student Aid (FAFSA®). Note that you’ll need to fill out this form every year that you’re attending school to apply for federal aid, including but not limited to the Pell Grant.

If you receive Pell Grant funding, then your school can apply these funds to your school costs or pay you — or use a combination of these two methods.

Pell Grant Eligibility Requirements

In order to qualify for a Pell Grant, you’ll need to meet the grant’s eligibility requirements.

Income

Pell Grants are awarded to individuals who exhibit exceptional financial need. There are no official income limits for the Pell Grant. Instead, award amounts are determined by your Expected Family Contribution, the program cost of attendance, and your status as a full- or part-time student.

Academic Achievement

Renewal of the Pell Grant each year is based on the student making satisfactory academic progress. The specific policy for academic progress will be outlined by your school, but it generally includes things like a minimum GPA and the number of class credits you need to complete in order to make progress toward your degree.

Completing FAFSA

To apply for the Pell Grant, you’ll need to fill out the FAFSA. In order to continue receiving the Pell Grant, you’ll need to fill out the FAFSA each year you are enrolled in school.

Recommended: FAFSA Guide

Being an Undergraduate Student

Pell Grants are generally only awarded to undergraduate students. Though, there may be some exceptions for students enrolled in post-baccalaureate teacher certification programs.

Maintaining Eligibility for a Pell Grant

To maintain your eligibility for a Pell Grant, you’ll need to stay enrolled in your undergraduate program. Additional Pell Grant requirements, among others, include that you need to either be a U.S. citizen or an eligible non-citizen.

You’ll also need to have a valid Social Security number and must be enrolled or accepted for enrollment in an eligible educational program.

This program is available to qualifying students for 12 semesters.


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

Loans vs Scholarships vs Grants

Before taking a deeper dive into federal Pell Grant eligibility, it can help to delve into the differences between student loans, scholarships, and grants.

Recommended: The Differences Between Grants, Scholarships, and Loans

Student Loans

Student loans are borrowed funds that need to be repaid, typically with interest. There are both federal student loans that the government offers, and private ones offered by financial institutions.

Federal Student Loans

Federal student loans are offered to students based on data included in the FAFSA. Some federal student loans are unsubsidized, while others are subsidized. With an unsubsidized loan, the interest begins accumulating as soon as funds are dispersed. So, while you’re in school, even if you aren’t making payments yet, interest is accruing.

With a subsidized loan, though, the government will pay your interest until you graduate or drop below half-time status.

You usually need to start paying back federal loans after the grace period, which is six months after you graduate or your enrollment drops below half-time.

Private Student Loans

Private student loans are usually used after federal student loan options have been exhausted. They may have a fixed or variable interest rate, and do not come with the same borrower protections as federal student loans. Different lenders may have different terms and rates and they’ll likely evaluate a potential borrower’s credit score and history, among other factors, to make their lending decision.

Recommended: Private vs Federal Student Loans

Scholarships

There are thousands of scholarships available to help students finance their college education. Some are based on financial need, others on merit, and sometimes both. The beauty of scholarships is that, unlike loans, they usually don’t need to be repaid. It can take some time to find the right scholarships for your situation.

Your high school counselor or college advisor may be able to help, and there are scholarship databases that you can search. Scholarships come with different requirements and different deadlines, so it typically helps to start early.

Grants

Like scholarships, grants typically don’t need to be paid back. They can be obtained from a variety of sources, including state governments, the federal government, your university, and private/non-profit organizations.

To receive a grant, you often need to meet financial criteria, and this kind of funding is usually based on financial need. And, this brings us full circle to a popular type of grant for college students today: the federal Pell Grant.

How Do Pell Grants Work?

To become eligible, you must fill out the FAFSA. If it’s determined you’re an undergraduate student with exceptional financial need — and you haven’t yet earned a bachelor’s degree (or a graduate or professional one) — then you may qualify for this grant funding.

Because each school that participates in the federal Pell Grant program receives enough funding annually to pay the full amount of Pell Grants to eligible students, if you’re eligible, you’ll receive the full amount you qualify for — and, if you qualify for other student aid, this does not have an impact on your Pell Grant eligibility.

Understanding Expected Family Contribution

As mentioned earlier, your Expected Family Contribution (EFC) plays a role in what you’ll be awarded. This is an index used by college financial aid departments that allows them to calculate how much financial aid you’re eligible to receive if you attended their school. The financial aid departments make these calculations based upon information provided in your FAFSA.

Sometimes, students qualify for 150% of scheduled Pell Grants, and you might hear this referred to as “year-round Pell.” That’s because, sometimes, you can also receive Pell Grant funding during the summer semester. If this interests you, you’ll need to talk to your school’s financial aid department about the requirements for this type of Pell Grant.

Additional Pell Grant Funding for Military Service in Afghanistan or Iraq

Students may be eligible for more funding if their parent or guardian was a:

•   member of the U.S. military who died as a result of service performed in Iraq and/or Afghanistan, post 9/11

•   public safety officer who died in active service in the line of duty

Eligibility requirements also include that, at the time of this death, you were younger than 24 years old or were enrolled in college or a career school on at least a part-time basis. If you qualify and are eligible for a Pell Grant, then your eligibility will be calculated as if you had an EFC of zero. If you’re attending less than full-time, then payments will be adjusted accordingly.

What Sorts of Expenses Can the Pell Grant Be Used For?

The Pell Grant can be used to cover qualified education-related expenses, including:

Tuition

Pell Grant funds can be used to pay for the cost of tuition.

Educational Expenses

You can use your Pell Grant to pay for other education-related expenses, such as the cost of books, lab fees, or other supplies like a graphic calculator or other expenses related to your course of study.

Living Expenses

It’s also possible to use the Pell Grant to pay for living expenses. This could cover room and board at your college or university. Or, if you live off-campus, this could cover the cost of rent.

Is There Ever a Reason Not to Take a Pell Grant?

Because the Pell Grant does not typically need to be repaid, it is a desirable type of financial aid. If you expect to earn a larger award in the future — for example if you plan on transferring to a more expensive institution or anticipate your EFC to be less — you may consider declining your award in the hopes of qualifying for a larger award in future years.

When You Still Need More Money

The FAFSA, which is required to qualify for the Pell Grant, is also required for other forms of financial aid. In your financial aid award, you’ll also be able to review any scholarships, grants, work-study, or federal student loans you may have qualified for.

Generally, scholarships, grants, and work-study are relied on before student loans. Then federal student loans, particularly Direct Subsidized Loans which, as mentioned, do not accrue interest until after a student graduates or drops below half-time enrollment.

Private Scholarships

Thoroughly investigate scholarship opportunities, as well as grants. To increase your chances of successfully receiving these kinds of funding, it can really help to carefully prepare to apply for them. Materials you will likely need include transcripts, personal references, and a personal statement.

You can ask a trusted adult, whether that’s a teacher, parent, or guidance counselor, to read over what you’ve written. And, although some of the scholarship or grant amounts might at first look small, multiple smaller awards can really add up.

Part-Time Job

If you don’t qualify for or can’t find a work-study job, you can still seek employment on your own. Colleges often provide job boards that list opportunities for employment, either on or off campus.

You can also check job sites that aren’t connected with the college, and ask guidance counselors, professors, and friends and family for leads.

No matter how you find a job, having one can help you to earn money for college while also helping you to build a resume that could prove valuable as you look for full-time employment after graduation.

Private Student Loans

You can fill in the gap between what you can obtain with federal student loans, scholarships, and grants with private student loans. These loans differ from federal loans in many ways, with federal ones having fairly static criteria, including fixed interest rates, multiple plans for repayment, and options for loan forgiveness.

Private loans, as mentioned, are offered by financial institutions, such as banks and online lenders. To request funds, you fill out an application, just like you might for a car loan, a mortgage, or a personal loan. To qualify, the lender will typically review your income and your credit score — and those of your cosigner, should you need one — among other financial factors.

Private lenders set their own criteria for loan approvals, as well as their own terms. Private student loans can come with multiple benefits and, in many cases, they can provide the funding that would ultimately make a difference between being able to pay tuition — or not.

There are also downsides to borrowing private student loans. They don’t have the loan forgiveness programs that are available with federal student loans, or income-driven repayment plans. This means that private student loans are generally considered only after all other options have been evaluated.

If private loans may make sense for you, shop around to compare lenders and find the option that is best for you. To help determine what your payments might be with private loan funding, you can use this student loan calculator to get an idea.

Recommended: I Didn’t Get Enough Financial Aid: Now What?

The Takeaway

Pell Grants are awarded to students who exhibit exceptional financial need. Pell Grants do not typically need to be repaid and the amount awarded to each student may vary based on their personal financial circumstances. The maximum award for the 2023-24 school year is $7,395.00.

Other options for paying for college include federal student loans, scholarships, work-study, and grants.

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 disqualifies you from getting a Pell Grant?

The Pell Grant is awarded to undergraduate students who demonstrate exceptional financial aid. To determine this, factors like your family’s Expected Family Contribution (EFC) and the cost of your school will be evaluated. Students who don’t demonstrate exceptional financial need generally won’t qualify for a Pell Grant.

Individuals who are incarcerated are also not eligible to receive a Pell Grant.

Will you ever need to pay back a Pell Grant?

In most cases, you won’t be required to repay a Pell Grant. In certain situations, a student may need to repay all or a portion of their grant — such as if they dropped out of school or dropped from full-time to part-time enrollment.

Is there a minimum GPA required for a Pell Grant? Does it have to be maintained for your whole degree?

In order to maintain eligibility for a Pell Grant, you’ll need to make satisfactory academic progress toward your degree. The specific requirements will be outlined by your school, but may include a minimum GPA.

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

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

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

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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