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Replacing windows can range tremendously in price, with basic, standard-size windows costing just $100 or so to expansive, custom bay windows that can run $7,000 or more. Having quality windows can not only make your home look better, it can boost energy efficiency, too. Here, learn more about this important home improvement project and the usual costs.

How Much Do Windows Cost?

A standard new window, installed, can cost anywhere from $500 to $1,000, according to Home Depot. Those prices, however, can go much higher if you are shopping for something special, such as a bay or casement window, wood vs. vinyl windows, or a custom size.

Window frames are commonly made of wood, vinyl, metal, or fiberglass.

•   Of those, vinyl windows are the most popular choice. The average cost of a double-hung, double-pane vinyl window, is around $600 in 2025. Installation, according to HomeGuide, can add another $300 to the cost.

   Vinyl windows typically last for 30 years, don’t need to be painted, and are easy to clean. Compared with their cheaper cousin, aluminum, vinyl windows excel when it comes to insulation and improving energy efficiency, and they will not rust.

•   Fiberglass and fiberglass-composite windows are stronger than vinyl. Like vinyl, they offer a high degree of energy efficiency, and with both types of window, there are options to enhance the energy efficiency. Expect to pay $600 to $2,000 for one fiberglass window, installed.

•   Wood windows can lend a classic look. Expect to pay more — around $875 to $1,875 in 2025, including installation, according to This Old House. Custom sizes and styles can cost significantly more. Wood windows tend to be harder to maintain than vinyl windows, given that the paint can peel or the wood can start to rot if it gets wet.

Recommended: How Much Does It Cost to Remodel or Renovate a House?

When Should I Replace My Windows?

If you’re thinking about replacing your windows, consider these questions. First, do your windows show any damage? Are they drafty, or have you noticed an increase in your electrical bills in the winter when the heat is on, or in the summer when the air conditioning is on?

Is there frequent moisture buildup, or condensation, on the outside of the glass, or is moisture trapped between layers of glazing, signaling leaky seals? Can you hear too much noise outside? Are you ready for a new look?

If the answer to any of these questions is yes, it may be time to consider replacing your windows. Or if you are on a smaller budget, consider repairing them.

If you’re buying a new home, an inspection will be a part of your mortgage process. It’s best to have the windows inspected, and if there are major issues, try to negotiate for their replacement before you close on the house.

Can I Repair Old Windows?

If your windows are in pretty good shape, it may make sense to repair or update them rather than replace them. Doing so can be a cost-effective way to help you save money on energy costs and reduce drafts and moisture in your home.

•   Check windows for air leaks.

•   Caulk and add weather stripping as needed.

•   Consider solar control film that can block heat and reduce glare.

•   If a pane is cracked, in a pinch the glass alone can be replaced with an insulated glass unit.

Recommended: What Are the Most Common Home Repair Costs?

How Long Do Windows Last?

The lifespan of a window depends on a number of factors, such as quality and type of material, local climate, and proper installation. In general, you can expect windows to last 15 to 30 or even 50 years.

Wood windows can last a long time, but might require a bit of maintenance on your part, whereas vinyl or fiberglass windows may require none. Fiberglass typically lasts the longest period of time.

Your local weather can play a big part. Extreme heat or cold can shorten the lifespan, salt spray from the ocean can corrode window exteriors, while humidity can lead to warping or rotting.

Whether or not a window is properly installed can also impact how long it lasts. If it is sealed improperly, for example, moisture may get in and damage the frame.

Finally, consider how much a window is used. Normal wear and tear on parts in windows that are opened and closed frequently can lead to replacement more often than windows that are rarely opened.

Should I Replace All My Windows at Once?

Whether or not you decide to replace all of your windows at once will largely depend on your budget. Consider that the price to replace 10 windows in a modest house could be several thousand dollars.

However, replacing all your windows at once can yield bulk savings, qualify for discounts, and save by having installation done once vs. paying for multiple visits. You might consider a home improvement loan (which is a kind of unsecured personal loan) to get the job done all at once if you don’t have enough cash saved up.

If you don’t have the budget to replace all your windows in one go, it’s common to swap windows out in stages. In this case, windows at the front of the house are generally the first to be replaced. They’re public-facing and add to the curb appeal of the home. The windows in the back of the house tend to come next, followed by any upstairs windows.

What Type of Window Should I Buy?

The first thing to consider is materials. You might consider wood windows if you’re trying to match them to an existing wood exterior or trim. You might choose fiberglass or composite for its durability and ability to look like painted wood. Or you might decide on vinyl for its affordability.

You’ll also want to consider the many types of windows available. For example, single-hung windows are among the most popular and cheapest options. They have a fixed upper window and allow you to open a lower window sash.

Double-hung windows are pricier but have two moving window sashes that allow for increased airflow and easier cleaning. There are also bay windows, arched windows, sliding windows, and many more to choose from.

The glass option you choose is an important decision. There are a variety of insulating options, such as dual-pane or triple-pane windows. Glass can be treated with a low-emittance coating to reflect heat in the summer and keep it in in the winter.

In climates where you need to cool the house for much of the year, consider three-coat low-e glazing, which best reduces heat from the sun. In colder climates that require more heating, it may make sense to go with a two-coat low-e treatment.

The space between glass may be filled with a nontoxic gas that can provide better insulation than air.

What’s the Best Time of Year for Replacing Windows?

Spring and fall tend to be the most popular times to replace windows. That’s because in these more moderate months, you don’t have to worry about winter air getting into your house, requiring you to jack up your heat or close off rooms to control drafts. The same holds true for summer: Avoiding the hot season can help you sidestep blasting the a/c as windows are taken out and replaced. These factors can be especially irksome if you’re having multiple windows replaced.

Weather can affect how materials behave. For example, caulk doesn’t adhere well in extreme cold, nor does it cure well in very high temperatures. As a result, you may want to aim to replace windows when temperatures are between 40 and 80 degrees.

If you can stand the cold, you may be able to secure a discount to have windows installed in the winter. A contractor can help you decide on the right time of year to have your new windows installed.

The Takeaway

The cost of replacing windows depends on the materials (wood, vinyl, fiberglass), style, size, and labor costs. Prices can range from several hundred to several thousand dollars per window. Think of new windows as a long-term investment that may provide energy savings, visual appeal, and, potentially, enhanced resale value. Typically, people finance them from savings or with a personal loan,

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

FAQ

What is the average price for replacement windows?

Windows can typically cost anywhere from $100 or so to a few thousand dollars each, depending on such factors as size, material, and where you live and purchase from. As you might guess, custom windows can be pricier than standard-size ones.

Is it cheaper to replace all windows at once?

Yes, it can be cheaper to have all your windows replaced at once. You might save on a bulk purchase, qualify for discounts, and pay less by having installation done just once vs. having contractors make multiple visits.

Should I replace windows that are more than 20 years old?

Yes, windows that are 20 years or more old and are experiencing issues like drafts, condensation, and diminished energy efficiency can benefit from replacement. They may not be at the very end of their lifespan but could probably be nearing the date that they should be upgraded.

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.

SOPL-Q225-049

If you’re expecting a baby or just beginning to think about expanding your family, it’s an exciting time for you and your partner. It’s also a crucial period to start preparing and budgeting for the new responsibilities and expenses that come with parenthood. From medical bills and diapers to toys and childcare, the costs can add up quickly. Fortunately, there are practical steps you can take to ensure you’re financially ready. Below, we’ll share five top tips to help you save money and manage the expenses of welcoming a new addition to your family.

The Costs of Having a Baby

The exact cost of having a baby varies depending on health insurance, local cost of living, level of prenatal care, and a number of other factors. But according to the most recent data, the average cost to give birth in the U.S. is around $18,865. If you have health insurance, however, your out-of-pocket costs can run around $2,854. On top of that major expense, you’ll also need to have plenty of cash available to buy baby gear and supplies, along with clothes, toys, and (potentially) childcare after the baby is born.

For couples who conceived naturally, without the added costs of fertility treatments or adoption, that first expense might include a trip to the pharmacy for a pregnancy test. From there, they grow to include prenatal care for mom and baby and an ever-expanding checklist of purchases, to-dos, and decisions—all within the next nine months or so.

Here’s a look at some of the common expenses that can crop up, from pregnancy through baby’s first birthday.

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

Before Birth

Parents-to-be may find that some of the biggest costs of having a baby happen before the baby is born. Prenatal care, for example, can begin within weeks of conception. It can bring associated diagnostic tests. Regardless of health insurance, extra services like 3D ultrasounds may not be covered.

A typical parent-to-be might also have a shopping list that includes a car seat, stroller, crib, diapers and wipes, a changing table, clothes, toys, a baby monitor, bottles, and more.

Depending on mom’s preference for breastfeeding or formula feeding, the list might also include a breast pump and related supplies or formula (or sometimes both).

During Birth

As mentioned above, the average hospital bill for having a baby is around $18,865, and $2,854 after insurance. But that number can vary depending on the type of delivery. Vaginal births are usually the most affordable, with costs increasing alongside complications or procedures like c-sections, and actual costs swing widely by state.

After Birth

Once mom and baby leave the hospital, there are ongoing medical expenses. For mom, it can include postpartum doctor visits to monitor healing or remove stitches, and for baby it can include regular, frequent checkups, starting within three to five days of birth.

If both parents decide at some point to return to work, the cost of daycare might be the next large, recurring expense. Combined with spending on groceries, bills, and other aspects of pre-baby life that still go on, the thought of managing it all might feel overwhelming.

Here are some ways it’s possible to cut corners, get creative, and save money.

Finding Extra Money for Baby

More and more employers are offering paid maternity (and paternity) leave, but beyond 12 weeks of unpaid leave offered by the Family and Medical Leave Act (FMLA), receiving pay while caring for a newborn isn’t guaranteed. For many Americans, that means saving up for a baby is more important than ever.

Facing a heap of new expenses while at the same time losing income may be a scary thought, and getting through it could require a heart-to-heart between partners and a lot of teamwork. But here are some strategies that may help budget for a baby.

💡 Quick Tip: An emergency fund or rainy day fund is an important financial safety net. Aim to have at least three to six months’ worth of basic living expenses saved in case you get a major unexpected bill or lose income.

1. Starting a Stockpile ASAP

One way to save early and often is to think of those nine months between the start of a pregnancy and the due date as time to stock up and save. Consider the financial difference between adding one box of diapers or wipes to a regular grocery trip vs. waiting until the baby arrives.

Adding items to your inventory a bit at a time — especially when they’re on sale — could be a lot easier on the wallet than an emergency trip when they’re needed ASAP. The same strategy could be used for cash, too. Every day, week, or month, you may want to set aside extra money in a high-yield savings account. Having a specific account dedicated to baby’s needs could mean that the regular budget for paying bills and other grown-up expenses isn’t as heavily affected.

2. Cutting Extra Costs

If a new, baby-friendly budget is in the works, parents might want to consider ways to cut costs — starting with areas that are the least painful. A good way to do this is to scan the last few months of financial statements, make a list of your regular non-essential expenses, then look for places where it may be easy to cut back on spending. For example, you might decide to cook at home more often and spend less on take-out, get rid of a streaming service you rarely watch, or ditch a gym membership you rarely use. You can also look for cheaper ways to shop. Consignment and second-hand stores are often filled with gently used baby items, from outgrown clothes to books, which can yield savings.

💡 Quick Tip: Want a simple way to save more everyday? When you turn on Roundups, all of your debit card purchases are automatically rounded up to the next dollar and deposited into your online savings account.

3. Opening a Health Savings Account

A health savings account (HSA) is usually offered alongside a high-deductible health plan (HDHP), and can provide new parents some significant perks: Money that’s placed into the account is pre-tax (and can include employer contributions), and it can be used to cover out-of-pocket medical expenses, such as office copays. If the HSA provider issues funds via debit card, it’s one easy way to keep health expenses entirely separate from the day-to-day budget.

But it’s not just doctor’s visits that are covered by HSA funds. Depending on individual plans, some can also be used to pay for health memberships, chiropractic treatments, breast pumps, and other items not covered by regular health insurance.

And while HSAs are traditionally offered through employer health plans, freelancers and other self-employed workers may be eligible to open an account, too.

4. Getting Creative

A newborn’s essentials list may be significantly shorter than mom’s and dad’s: They need diapers, clothes, food, a safe place to travel and sleep, and parent cuddles — that’s about it. The rest? The fancy diaper bag, the 100-in-1 stroller, the matching outfits, even shoes before the baby leans to walk, can be more like nice-to-haves.

To save money on needs vs. wants, parents could consider putting “gift” items on a baby shower registry — if they’re purchased, great! No unnecessary strain on the budget. It’s also worth asking friends and family who are out of the baby stage for hand-me-downs that are still in good condition.

5. Putting Your Savings to Work

One way to afford a baby is to make your money work harder. For instance, pay attention to where you keep your savings. When comparing traditional vs. online banks, you may see that online ones can offer a better deal. Since these institutions don’t have brick-and-mortar locations to staff and maintain, their operating budget may be lower. They can pass those savings on to their clients in the form of higher annual percentage yields (APYs) and lower or no fees.

The Takeaway

The cost of having a baby can run over $2,800, even if you have decent health insurance. And that number doesn’t include expenses involved in outfitting the nursery and caring for your child once they come home.

To make sure you manage the financial side of parenthood, it’s a good idea to consider what expenses lie ahead, come up with a budget, and see where you can economize. Having the right banking partner can also help you manage your money well as your family grows.

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

FAQ

How much money should you have saved before having a baby?

The amount you should save before having a child depends on your insurance coverage, location, and personal circumstances. As a general rule of thumb, some financial advisors recommend having at least $20,000 to $25,000 in savings before having a baby. This can cover the average pregnancy/delivery costs and essential baby items, plus offers a cushion for unexpected medical expenses or disruptions in income.

How do I invest $1,000 for my child?

To invest $1000 for your child, consider opening a custodial account or a 529 college savings plan. Custodial accounts offer flexibility, allowing you to invest in stocks, bonds, or mutual funds, while 529 plans provide tax advantages for education expenses. Research low-fee, diversified options and consult a financial advisor to align the investment with your child’s future needs and your tolerance for risk.

What is the best way to start saving money for a child?

The best way to start saving for a child is by setting up a dedicated savings account or a 529 college savings plan. Create a budget to identify areas where you can cut expenses and redirect funds into the new account. You might also automate monthly contributions to make saving consistent and effortless. Consider high-yield savings accounts or low-fee investment options to grow your savings over time. Regularly review and adjust your savings plan to stay on track.

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

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

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

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

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

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

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.

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

SOBNK-Q225-077

The lifetime graduate student aggregate loan limit for subsidized and unsubsidized federal loans is $138,500. Of this amount, no more than $65,500 can be in subsidized loans. This is the aggregate limit that includes loan amounts borrowers use to pay for undergraduate and graduate studies.

The lifetime graduate student aggregate loan limit for Subsidized and Unsubsidized federal loans is $138,500. Of this amount, no more than $65,500 can be in subsidized loans. This is the aggregate limit that includes loan amounts borrowers use to pay for undergraduate and graduate studies.

Students could also borrow private student loans, which could potentially increase the amount of student loans an individual could borrow. Continue reading for more details on the different types of student loan limits.

Federal Student Loan Limits

Students can apply for federal aid to help fund graduate school. Students are encouraged to fill out the FAFSA® (Federal Application for Federal Student Aid) to see if they qualify for help. Graduate requirements of FAFSA are similar to those for undergraduate students. Eligibility for federal aid is based on a student’s income, among other factors, so not everybody will be eligible for all types of aid.

As mentioned, the lifetime aggregate limit for Subsidized and Unsubsidized student loans is $138,500 for graduate or As mentioned, the lifetime aggregate limit for subsidized and unsubsidized student loans is $138,500 for graduate or professional students. Of this amount, no more than $65,500 can be in subsidized loans. This is the aggregate limit, so it does include student loans borrowed during undergraduate study.
students. Of this amount, no more than $65,500 can be in subsidized loans. This is the aggregate limit, so does include student loans borrowed during undergraduate study.

Limits for Direct Unsubsidized Loans and Direct PLUS Loans are outlined below.

Direct Unsubsidized Loans

Graduate students cannot receive Direct Subsidized Loans. Direct Subsidized Loans are only available to undergraduate students who show financial need. If students took out these loans as undergraduates, that amount will be included in the lifetime limit of federal loans they’re allowed to receive.

For Direct Unsubsidized Loans, the annual limit is $20,500. All graduate or professional students are considered independent for this loan. Unsubsidized loans aren’t dependent on students demonstrating financial need. The schools will decide how much students receive based on their annual costs and how much aid they’re receiving from other sources.

Direct PLUS Loans

Graduate students with eligible credit can also take out Direct PLUS Loans, issued by the U.S. Department of Education. These loans have an annual limit of the cost of attendance, subtracting any other aid that is received.

Private Student Loan Limits

After exhausting federal aid, students can turn to private student loans if needed. Private student loans are issued by banks, credit unions, and online lenders. These loans typically require a credit check and may have variable interest rates.

The maximum amount that students can borrow with a private student loan will depend on the lender. Usually, they won’t lend students more than it costs to attend school.

The cost of attendance is an estimate of tuition and fees, books and supplies, living expenses, transportation, and other miscellaneous expenses. The estimate can also include dependent care, study-abroad programs, and costs related to disabilities.

Recommended: Private Student Loan Guide

Graduate Student Loans vs Undergrad Student Loans

Undergraduate students may be eligible for Direct Subsidized Loans. The government covers the interest that accrues while a student is enrolled at least half-time in school. Graduate students are not eligible for this loan type.

Direct Unsubsidized Loans are available to both graduate and undergraduate students. The undergraduate student federal loan has a lower interest rate than the unsubsidized loan for graduate students. Undergrads have an interest rate of 6.53% for the 2024-25 school year, while it is 8.08% for graduate students.

Direct PLUS Loans are available for graduate students. Only undergraduate students who are considered independent, or whose parents are unable to obtain PLUS Loans, may be eligible to borrow a PLUS Loan.

Graduate School Resources

Be sure to fill out your grad school FAFSA to see if you qualify for federal aid. In addition to federal student loans, graduate students may be eligible for grants and scholarships.

Grants and Scholarships

When students submit their FAFSA, their eligibility for certain grants will be considered. The school may also have information on local or institutional-based grant programs.

Grad students also have the option of doing a graduate assistantship, where they teach or work on research under the supervision of a professor. Assistantships sometimes pay a stipend or provide benefits like housing. Students can check with their schools to see if that option is available to them.

Scholarships and fellowships are also available to help pay for graduate school. There are many ways students can go about finding and applying for grad school scholarships. Students can check with their school’s financial aid department, or even the department they’re studying under, to see what is available.

There’s usually a wide variety of scholarships available from various sources, including schools, employers, companies, and nonprofit organizations. Scholarships can be either merit-based or need-based, so the eligibility will vary.

Recommended: Scholarship Search Tool

The Takeaway

The aggregate limit for unsubsidized and subsidized loans for graduate students is $138,500, of which no more than $65,500 can be in subsidized loans. For the PLUS Loan, the annual borrowing limit is no more than the cost of school minus other forms of financial aid. Limits for private student loans may vary by lender but, generally, a private lender will not let you borrow more than the cost of attendance.

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

FAQ

What is the lifetime borrowing limit for federal student loans for graduate students?

Graduate and professional students have a lifetime aggregate borrowing limit of $138,500 for federal Direct Subsidized and Unsubsidized Loans, which includes any loans borrowed during undergraduate studies.

How much of the $138,500 federal loan limit can be in subsidized loans?

No more than $65,500 of the $138,500 aggregate limit can be in subsidized loans. However, it’s important to note that subsidized loans are no longer available to graduate students.

Can private student loans help cover costs beyond federal loan limits?

Yes, private student loans can be used to cover education expenses that exceed federal loan limits. However, borrowing limits for private loans vary by lender and typically cannot exceed the total cost of attendance.

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

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

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

SOISL-Q225-035

When the amount a student can borrow isn’t enough to cover the cost of attendance, parents may decide to take out additional loans. Parents of dependent undergraduate students can apply for a Direct PLUS Loan, also known as a Parent PLUS Loan.

Qualifying for a Parent PLUS Loan involves meeting specific eligibility criteria, including a credit check and federal aid requirements. This guide will walk you through everything you need to know about Parent PLUS Loan eligibility, so you can make an informed decision about funding your child’s education.

What Are Parent PLUS Loans?

A Parent PLUS Loan is a type of loan that is part of the Direct Loan Program administered by the U.S. Department of Education. As mentioned, PLUS Loans can be borrowed by parents of undergraduate students. Graduate and professional students may also be eligible for PLUS Loans.

Parent PLUS Loans generally have higher interest rates than other Direct Loans. For Parent PLUS Loans issued in the loan year starting July 1, 2024, the interest rate is 9.08%, while the interest rate for Direct Subsidized and Unsubsidized Loans to undergraduate students is 6.53%.

Interest rates for federal student loans are fixed, meaning they stay the same over the entire term of the loan. You generally can’t transfer a Parent PLUS Loan to your child down the line, but your child may be able to apply for student loan refinancing later on and, if they qualify and it makes sense to do so, use it to pay off the loan.

Recommended: A Guide to Refinancing Student Loans

How Much Can You Borrow for a Parent PLUS Loan?

Congress established the Parent PLUS Loan program in 1980 with caps on how much parents could borrow. Those limits were eliminated in 1992. Parents are now able to borrow up to the full cost of attendance at their child’s institution (which the school determines), after any other financial aid the student receives.

Parent PLUS Loan Eligibility Requirements

Credit Score Requirements

While there is not a specific credit score requirement for borrowing a Parent PLUS Loan, borrowers with an adverse credit history may not qualify to borrow this type of loan. The U.S. Department of Education defines an adverse credit history as meeting any of the following criteria:

•   Having accounts with a total balance of more than $2,085 that are 90 or more days delinquent, or debts that have been placed in collections or have been charged off within two years of the date of the credit report

•   Having defaulted on a loan within five years of the credit report

•   Filed for bankruptcy within five years of the credit report

•   Experienced repossession or foreclosure within five years of the credit report

•   Having charged-off a federal student loan within five years of the credit report

•   Experienced wage garnishment or a tax lien within the five years prior to the credit report

Parents with an adverse credit history who are denied a Parent PLUS Loan may be able to qualify for a Parent PLUS Loan if they add an endorser or provide supporting documentation to the U.S. Department of Education that indicates there are extenuating circumstances surrounding the adverse credit history.

Who Can Apply for a Parent PLUS Loan?

To apply for a Parent PLUS Loan, potential borrowers must be the biological, adoptive, or in certain situations the stepparent, of a dependent undergraduate student. The student must be enrolled in a participating school at least half-time.

Unless a grandparent has legally adopted the student, they are unable to borrow a Parent PLUS Loan.

Other Eligibility Criteria for Parent PLUS Loans

In addition to being the parent of the student and not having an adverse credit history, parent-borrowers also must meet the basic eligibility requirements for federal student aid, such as being a U.S. citizen or eligible non-citizen.

What If You Aren’t Eligible for a Parent PLUS Loan?

If you aren’t eligible for a Parent PLUS Loan, review the student loans, scholarships, and grants available to your undergraduate students. If these options are not enough to cover the cost of tuition and other expenses, you might consider borrowing a private parent student loan to help your child pay for their education.

Private student loans are awarded by private lenders based on personal financial factors such as income and credit score, among others.

Applying for a PLUS Loan

Before applying for a Parent PLUS Loan, ensure your child has completed their Free Application for Federal Student Aid (FAFSA®). Once this has been completed, you can apply for a Parent PLUS Loan. Typically, you’ll fill out an online application at StudentLoans.gov, though some schools have a different process and require you to request a loan through the institution’s financial aid office.

StudentLoans.gov has a list of all schools that allow you to apply through the website. If you have any questions, contact the financial aid office at your child’s school.

Recommended: How to Complete the FAFSA Step by Step

Pros and Cons of a Parent PLUS Loan

As with most financial decisions, there are pros and cons to Parent PLUS Loans.

Pros of a PLUS Loan

One of the biggest benefits of Parent PLUS Loans is that they allow parents to borrow up to the cost of attendance to help their child pay for college.

Another pro is that there are no minimum credit score requirements. While there is a credit check, so long as parents meet the adverse credit requirements, they stand a reasonably good chance of being approved for a Parent PLUS Loan.

When repaying Parent PLUS Loans, borrowers have a few different repayment options available to them, which can offer flexibility. PLUS Loans are eligible for the Standard, Graduated, or Extended Repayment Plans. And, if Parent PLUS Loans are consolidated into a Direct Consolidation Loan, they can be enrolled in an income-contingent repayment plan, which is one of the income-driven repayment plans available for federal student loans

Cons of a PLUS Loan

One negative is that Parent PLUS Loans cannot be transferred to the student borrower. They are the responsibility of the parents, and they are legally responsible for repaying the loan.

Parent PLUS Loans also have an origination fee of 4.228%.

Another con is that parents are expected to begin repayment as soon as the loan is disbursed. While it is possible to apply for a deferment, interest will continue to accrue during this time.

Private Student Loans

When evaluating private student loans vs. parent PLUS loans, generally, federal student loan options are a strong starting place for most borrowers. That’s because federal student loans come with borrower protections and often with lower interest rates. Students and parents who have exhausted their federal aid options may want to consider taking out loans from a private lender.

Private student loans are offered by banks, credit unions, and online lenders to qualifying undergrads, graduate students, and parents. Student loans can be used to cover up to 100% of school-certified costs, which typically include things like tuition, books, supplies, room and board, food, and other education expenses.

The Takeaway

Parent PLUS Loans offer the flexibility to borrow up to the full cost of attendance, however, approval hinges on passing a basic credit check and meeting general federal aid criteria. Parents should weigh the responsibilities of borrowing carefully, including repayment terms, interest rates, and the potential impact on their financial future.

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

Does everyone automatically get approved for Parent PLUS Loans?

No, not everyone gets approved for a Parent PLUS Loan. In addition to being the parent of an undergraduate student and meeting basic eligibility requirements, the U.S. Department of Education requires that parent borrowers not have an adverse credit history in order to borrow a PLUS Loan.

Parents who are denied from borrowing a Parent PLUS Loan because of an adverse credit history may be able to add an endorser to their application or file paperwork with the Department of Education to prove there were or are extenuating circumstances related to their adverse credit history.

Are Parent PLUS Loans based primarily on income?

Parent PLUS Loans are not primarily based on income. Instead, eligibility is determined by a basic credit check to ensure the borrower has no adverse credit history. There is no minimum income requirement, but the borrower must demonstrate the ability to repay the loan, which may indirectly relate to income.

What is the maximum borrowable amount of Parent PLUS Loans?

Parent borrowers can borrow up to the full cost of attendance as defined by your child’s school, less any other financial aid your child has received.

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.

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