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College can be expensive, and beyond tuition and room and board, you’ll also need to buy quite a few things to set up your dorm room. This can include everything from fun bedding and artwork to mundane items like power strips and bath caddies. Fortunately, there are ways to save money on dorm room essentials without sacrificing on style, function, or comfort.

What follows are smart college shopping tips and tricks that will help you set up your room without breaking the bank.

Tips to Save Money Shopping for Dorm Room Essentials

If you are looking to save when it comes to college dorm shopping, here are some helpful tips.

1. Research Your Dorm

Before going dorm room shopping, look into how big your dorm room is and what furnishings are provided by the university. Then, you’ll have an idea of what you need to buy and can avoid spending money on things that you’ll have when you get to the dorm.

2. Check Out the Dorm Room Rules

It’s also important to find out the rules for your dorm room. For instance, perhaps your college won’t allow you to have candles or incense burning in your room, or it won’t let you bring a microwave. You’ll know not to purchase these items because they are forbidden.

3. Don’t Buy Too Much

Dorm rooms are (often) tiny. When looking into how to shop for your college dorm, less is generally more. Avoid buying oversized items and don’t feel like you need to get every single item on those “college dorm essentials” lists.

Think of the things you already use in your daily life and use that as a guide for what you’ll need in college. If you find there is something you’re missing when you arrive, you can always pick it up after move-in day.

4. Create a College Dorm Checklist

Make a comprehensive list of what you need before you start shopping. When you’re in the store, don’t be tempted to spend just because something is cute or it seems like you’ll absolutely need it. You typically need much less than you think.

5. Take Inventory of What You Have

You may already own a bunch of things you need for your dorm room, such as a shower caddy or a small fan. Go around your room at home and take inventory of what you have so you can decide what to buy.

6. Assess the Laundry Situation

Before you purchase a laundry basket or bag, you may want to find out where the washing machines are located — are they in your dorm or across the quad? Based on the answer, you might choose a laundry bag over a basket or vice versa, and can avoid buying the wrong thing (and wasting money).

7. Use Coupons

Look for coupons in your local circulars as well as online when determining what to buy for college dorms. Check out coupon websites like RetailMeNot and Coupons.com, or use a browser extension like Honey to snag the best deals.

8. Shop at Discount Stores

Why pay full price when you can go to a discount store and find exactly what you need for less? Check out places like Ross, HomeGoods, Marshalls, or Dollar Stores for deals on college shopping needs.

9. Look for All-in-One Sets

Complete sets — such as bed-in-a-bag, towel, dish, and toiletry sets — are often an excellent value compared to buying each item individually. Sets also make packing easier, since everything is essentially already packed. Just make sure you actually need everything (or most) of the items included in the set.

10. Sign Up for Target Circle

Another retailer that has a wide selection of items for dorm rooms is Target. People who sign up for their rewards program, Target Circle, can receive exclusive access to special discounts and promotions.

Recommended: How to Save Money in College – 20 Ways

11. Use Amazon Prime

Students can get a significant discount on an Amazon Prime membership, plus possibly discounts on flights and free food delivery. You’ll also receive fast, free delivery on all your college dorm essentials.

12. Use a Cash-Back Credit Card

If shopping with a credit card, use one that offers cash back. If you are searching for a credit card, try to find one that has no annual fee and a welcome bonus.

13. Don’t Buy the Cheapest Stuff

While it may be tempting to buy the cheapest dorm room items possible, buying flimsy things that will need to be replaced may not be cost-effective. Items will need to be sturdy enough to last you over the next four years or so. Even if you have to pay a little more up front, it’s going to be worth it if your stuff actually lasts until graduation.

14. Leave the Printer at Home

Some colleges offer free printing services as part of tuition. If that’s the case at your school, don’t worry about buying a printer.

15. Shop the Sales

Consider shopping when stores are running sales. This could be on shopping holidays like Labor Day and the Fourth of July, or in August when college kids are getting ready to head back to school.

16. Don’t Fall for the “Great for Dorms” Tags

Be wary of items labeled as ideal for dorms. These may be marked up, and it may be possible to find a less expensive counterpart that isn’t necessarily marketed for college dorm rooms.

17. Do Price Matching

Look into the prices of products at different stores to make sure you’re getting the best deal. If you find a lower price at another store, ask your preferred store if they will match the other deal. Many will.

18. Use Your College ID for Discounts

If you already have your student ID, you may be able to snag some bargains on college dorm essentials from some local stores. Keep your ID on you at all times when you’re out and about and shopping for the school year.

Recommended: 10 Money Management Tips for College Students

19. Create a Budget

Come up with a budget for your college dorm checklist and then stick to it. When you go shopping without a set college shopping budget, you could end up spending way too much.

20. Look for Hand-Me-Downs

Did your siblings go to college? How about your friends? They may have dorm room essentials they’re no longer using and would be happy to give them to you. Ask around and see if they have anything they’re willing to pass on before you spend money.

21. Check In With Your Roommate

If you coordinate with your roommate on things you need to buy, you can save money. For instance, maybe they’re willing to buy some cleaning supplies if you provide snacks or bring a vacuum.

Recommended: College Freshman Checklist for the Upcoming School Year

22. Try Thrift Stores

Check out your local thrift stores and hunt down bargains on dorm room essentials.

23. Buy on Facebook Marketplace

You can also find deals on Facebook Marketplace. Log on and search for deals near your home or college, or find sellers who are willing to ship your dorm room essentials to you. Proceed with caution, however, to avoid scams like the overpayment ploy.

24. Use Craigslist

When figuring out what to buy for college dorms, you might also check out Craigslist for local items for sale. Don’t be afraid to haggle to pay the prices you can actually afford for your college dorm stuff.

25. Shop With Cash Back Websites

Take a look at sites like Rakuten or Upromise that allow account holders to earn rewards on purchases. You can shop for dorm room items and earn cashback or other rewards on the items you were already planning to buy.

26. Use Gift Cards

Did you receive gift cards from family members and friends when you graduated from high school? Then put them towards your college dorm checklist so you don’t have to spend your own money on items.

27. Start a Registry

Your family and friends may want to contribute and purchase some of your dorm room essentials for you. Stores like Walmart and Target make it easy to start a college dorm registry or wish list you can share with your loved ones.

28. Look for Free Shipping

Look for free shipping to avoid expensive shipping costs. If you’re going to college far away from home, double check that the stores you are ordering from offer free shipping to that location.

29. Wait to Shop

If you’re on the fence about some purchases, wait until you move into the dorm. This way you can avoid spending money on something you won’t actually use.

30. Rent Instead of Buying

Sometimes, colleges will offer you the chance to rent bigger ticket items, like a minifridge, for your dorm room. If you price it out, you may find this is cheaper than buying the item, especially if you split the rental cost with your roommate.

31. Shop With Friends

You might want to get a group of friends together to go shopping together. You can share tips and possibly get better deals by purchasing in bulk and splitting up what you buy.

32. Sign Up for Stores’ Email Lists

Stores send coupons, sale alerts, and more out to their mailing lists. Consider signing up for the mailing list for stores at which you plan to do a considerable amount of dorm room shopping.

33. Set Up Price Alerts

You can set up price alerts through tools like CamelCamelCamel, an Amazon price tracker, to find out when college dorm stuff is going on sale so you know when to purchase it.

Bonus Tip: Best Places to Buy College Stuff

When shopping for college dorm stuff, where you shop can have a big impact on how much you spend, whether you’re shopping online or in person. Here are a few stores that offer a variety of dorm room essentials, typically at competitive prices:

• Amazon

• Target

• Walmart

• Overstock

• Wayfair

• HomeGoods

• Marshalls

• TJ Maxx

• Ross

• The Container Store

• The Dollar Tree

• IKEA

Paying for College

Shopping for college dorm room essentials can feel overwhelming, but things like making a list, creating a budget, shopping online with free shipping, and taking advantage of student discounts can help make it more manageable, and more affordable.

Another way to help with college expenses is to take advantage of any financial aid you are eligible for. You apply for aid simply by filling out the Free Application for Federal Student Aid (FAFSA) each year. Your financial aid package may include grants, scholarships, work-study, and federal loans, which can be used for tuition as well as other college expenses.

If you still have gaps in funding, you might also look into private student loans. These are available through banks, credit unions, and online lenders. Rates may be higher than federal loans, but you can often borrow up to the full cost of attendance. Just keep in mind that private loans may not offer the borrower protections — like income-based repayment and deferment or forbearance — that automatically come with federal student loans.

The Takeaway

To make setting up your dorm room as affordable as possible, understand room dimensions, forbidden items, and what your roommate is bringing in advance. Then try tactics like renting items, bringing furnishings from home, splitting bulk items with roommates and friends, and using coupon codes and cash-back tools to minimize the cost.

College can be expensive, so looking into grants, scholarships, and federal and private student loans can help you fund your education.

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

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

FAQ

How much should you spend on dorm room supplies?

The amount spent on dorm room supplies can vary tremendously from student to student and campus to campus. However, U.S. News & World Report recently cited a study saying the average is around $750.

How much is too much stuff to bring to college?

While there’s no definitive answer to how much stuff is too much to bring to college, conventional wisdom says that most students can get by with one-third of the amount of clothing and furnishings they actually bring. Remember, dorm rooms tend to be very small.

What to do if you overpack for college?

If you overpack for college, you might consider sending some items home, renting a small storage unit near campus to hold the excess, or selling or donating things you don’t need.

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

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

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., 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).

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

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

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

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Taking college classes at night can be a convenient option for students, especially those who are balancing work and school. However, doing your coursework in the evenings can be a big adjustment, especially if you’re used to taking classes during the day. Staying focused after a long day of work and excelling at learning at night can be challenging.

Whether you’re gearing up for a degree’s worth of night school or a one-off evening class, take a look at these tips to survive night classes.

What Are Night Classes?

Generally speaking, night classes take place between 5pm and 10pm. College night classes typically follow the traditional semester schedule, though there may be shorter timelines for special-interest topics or certificate programs.

Because night classes are geared toward nontraditional students with family and work obligations, they typically occur once a week for two to four hours, but it depends on the course credits and subject matter.

Although this condensed format may mean fewer trips to campus, it can also make for much longer days. Students may want to keep the following issues in mind.

Controlling Caffeine Cravings

When feeling tired, it may be a natural inclination to grab a cup of coffee or other caffeinated beverage to get a boost of energy and keep going. While this may help a student get through a night class or hammer out an assignment at the last minute, it can disrupt sleeping patterns, creating further fatigue the next day and inhibiting your ability to study in college.

Caffeine can last up to 12 hours in the system after consumption. Even for night owls, a coffee (or energy drink) after lunch could keep them awake well beyond when you want to go to bed.

If cold turkey seems like too drastic a change, you might want to try experimenting with less-caffeinated beverages, such as some types of coffee substitutes such as tea. Everyone is different, and the goal is finding the sweet spot between staying awake and engaged during night classes and not losing precious sleep later on.

Staying Nourished and Hydrated

Staying focused during night classes can take practice and preparation. Packing healthy snacks and water is one way to maintain energy and feel comfortable as class discussions and lectures progress into the later evening hours.

If a professor doesn’t permit eating in the classroom, a student can likely squeeze in a quick bite beforehand or during break time.

Remaining Active

Between work, studying, class time, and other obligations, exercising may seem like a luxury that there isn’t enough time for. This can feel especially true on days when a full day at work is followed by a three-hour night class.

The Department of Health and Human Services recommends that adults complete at least 150 minutes of moderate-intensity exercise a week. Broken down over the whole week, that’s about 20 minutes of exercise a day.

If you’re really in a pinch, fitting in a brisk walk before night classes start or during the midway break in a three-hour seminar can help with your energy and work toward meeting the 150-minute goal.

Befriending Classmates

Night classes can draw a diverse student body. For discussion-oriented classes, this can enrich the conversation with more perspectives.

It is also an opportunity to network and find a study buddy or two. Because night classes usually meet only once a week for a 15-week semester, even one absence could lead to falling behind or missing out on critical information. Classmates can be a resource for sharing notes and staying in the loop on what happened in class.

Also, becoming friends with classmates could make lengthy night classes more fun and add motivation to keep up strong attendance.

Recommended: Should I Go to Community College?

Creating a More Flexible Work Schedule

Even full-time students can expect to have at least one or two nights free from scheduled classes. If you have a flexible work schedule, you’re already in a position to craft an ideal balance of work, school, and social life.

However, if you’re working some version of the standard 9-5 schedule five days a week, the days with back-to-back work and class can feel like a marathon. Getting an education takes work, but you may not get the most out of it if it becomes something you dread.

Redistributing work hours to accommodate your night class schedule might prevent burnout. For instance, being able to come in an hour later on mornings after night classes and make them up later in the week can spread out the workload and help in catching up on sleep.

Talking to supervisors may feel intimidating, but if your college night classes are providing skills and knowledge to perform better at your job, you can make a case for getting some wiggle room at work while you finish school.

Recommended: Is it Possible to Take Online Classes While Working?

Avoiding Procrastination

As school traditionally runs from morning to early afternoon, conventional wisdom dictates completing homework and assignments the night before, at the latest. With night classes, the window to procrastinate can be extended later in the day.

Planning can help a student avoid a situation that requires picking between going to work or completing an assignment for class. Mapping out assignment due dates at the onset of the semester is one method to stay on track.

Managing Time

Between exams and papers, college classes often have a steady stream of readings and assignments to keep up with from week to week. Setting aside specific time frames to study for each class may counteract an urge to slack off between major assignments. Repetition can also improve knowledge retention, compared with cramming at the last minute.

After taking care of other responsibilities, such as an internship, job, or team practice, it may be difficult to recall readings and information at the end of a long day. Finding a moment before night class to review your notes could better prepare you to participate in discussion or ace a quiz. Creating a brief study guide covering key themes and topics for each week could help if you’re pressed for time.

Pacing Yourself

Before going full steam ahead with a full course load, you can consider testing the waters with one or two night classes. Education is a financial and career investment, and figuring out what’s right for your work-life balance could be the difference between burning out and graduating.

Keep in mind that whether you study full time or part time could affect financial aid or scholarships.

Exploring Night Class Options

Night classes are offered at community colleges and four-year universities alike. Researching multiple options could help a student find an ideal balance of cost, reputation, student body demographics, and campus environment.

Online courses are another option to consider. Synchronous courses may still have online lectures and discussions but allow students to participate from the comfort of home.

Paying for Night Classes

Education comes at a cost. Beyond tuition, taking night classes may require buying textbooks, paying for a parking pass, and other associated fees.

Work-study programs, scholarships, and grants could cover all or part of these qualifying expenses, but some students take out loans to pay the remaining cost for their degree or night classes.

Filling out the FAFSA form can be an important first step to see what kind of federal aid you may qualify for.

Federal loans may be subsidized or unsubsidized and come with protections, such as income-driven repayment and forbearance in certain cases.

When federal loans and other aid aren’t enough, private student loans are an option to consider. These loans are available through private lenders, including banks, credit unions, and online lenders. Rates and terms vary, depending on the lender. Generally, borrowers (or cosigners) who have strong credit qualify for the lowest rates.

The Takeaway

Taking night classes can be a way for students to manage their college courses, especially if they work during the day. However, taking these classes, which typically meet once a week for two to four hours, can cut into free time and be challenging to stay alert for. Good time management and self-care habits can be critical to success. If you are feeling overloaded by night classes plus a job you have taken to help pay for school, you might consider student loans to help with funding.

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

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

FAQ

How to succeed at night classes?

When taking night classes, it can be helpful to focus on time management, preparation, and self-care. Also, remembering that taking night classes is a temporary situation can ease the stress some students experience.

When are night classes scheduled?

Night classes are typically scheduled between 5pm and 10pm. They may meet once or more per week.

How long is a night class?

The length of a night class can depend on how many times it meets and for how long. Typically, however, a student can expect a night class to last between two and four hours if it meets once a week.

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

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

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., 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).

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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Adult learners — students who are age 25 or older — are an increasingly common sight on college campuses. Going back to school (or attending for the first time) at a later date, however, comes with some challenges. One of the biggest is finding a way to cover the cost of your education, since you may not be able to rely on Mom and Dad to foot some or all of the bill.

Fortunately, there are plenty of ways to pay for college as an adult learner, from scholarships and grants to good old-fashioned student loans.

To Start, Look at Scholarships and Grants

Whether you’re starting school or going back to college, it’s always a good idea to look into scholarships and grants early in the fund-finding process. After all, these are financial aid options that the recipient typically isn’t responsible for paying back.

Although most scholarships won’t pay the entire cost of college, they can potentially offset thousands of dollars in costs — and when it comes to an expense as hefty as education, every bit helps.

It’s a good idea to check with your prospective school’s financial aid office to see if the college offers any grants or scholarships for adult learners, but there are also third-party programs worth looking into. Consider adding these to your list.


💡 Quick Tip: You can fund your education with a competitive-rate, no-fees-required private student loan that covers up to 100% of school-certified costs.

Executive Women International Scholarship

Offered through local chapters of Executive Women International, the Adult Students in Scholastic Transition (ASIST) scholarship awards $2,000 to $10,000 to “adults facing economic, social, or physical challenges who are looking to improve their situation through educational opportunities.”

For full application details, contact your local chapter.

Award From Imagine America

The Imagine American Foundation offers a scholarship specifically for adults who are attending a career or trade school for a career shift or returning to school after time away. Called the Adult Skills Education Program (ASEP), this scholarship offers a one-time $1,000 award to students over the age of 19 who are enrolled in a participating college.

Jeannette Rankin Women’s Scholarship

Open to low-income women 35 or older who are pursuing a technical/vocational education, an associate’s degree, or a first bachelor’s degree at an accredited college, the Jeannette Rankin Women’s Scholarship Fund offers scholarships of up to $2,500 annually. The award is distributed directly to recipients and is renewable for up to five years.

Women on Par Scholarship

The Women on Par Scholarship provides financial assistance to “nontraditional” female students (over age 30) pursuing higher education for the first time. Winners are selected based on need, personal and professional goals, and their personal stories. Three awards are typically given each year: One for $4,000, one for $2,000, and one for $1,000.
There are many other national and regional adult-specific scholarships available, so it’s worth doing a Google search to look for more opportunities that might be a good fit for your situation.

Recommended: University of South Florida Tuition Guide

Employee Education Benefits

If you’re employed, you may want to take a second look at that sheaf of paperwork HR sent you on your first day. These days, an increasing number of companies offer employee education benefits as part of their compensation package.

Three common types of benefits are tuition assistance, tuition reimbursement, and student loan repayment. Each of these works a little differently, but all of them can help offset the out-of-pocket costs of an education.

With tuition assistance, your employer may partner with specific colleges or universities to bring you discounted, or even free, classes — particularly if those classes will improve your performance at work.

Starbucks, for instance, is famous for its tuition assistance program, which covers 100% of employees’ out-of-pocket cost for first-time undergraduate students enrolled in Arizona State University’s online program.

Tuition reimbursement, on the other hand, means your company will repay you for out-of-pocket educational costs up to a certain limit.

Home Depot offers a tuition reimbursement program that allows employees to attend the university or college of their choice and receive up to 50% of tuition, fees and other approved expenses. The following maximums apply: $5,000 (for salaried employees), $3,000 (for full-time hourly workers) or $1,500 (for part-time hourly workers) per year.

Finally, some companies offer student loan repayment programs that help employees repay the loans they’ve taken out from third-party lenders.

Many of these programs have specific eligibility requirements, such as working a minimum number of hours or maintaining a certain GPA, so be sure to double-check the fine print.

Also keep in mind that certain colleges offer course credit for work and life experience, which could help you save money by cutting down on the total number of classes you need to take (and pay for). Check with your university to see if it offers this perk.

Federal Student Loans

Even if you successfully apply for scholarships and get employee education benefits, you may still be left with more college expenses than you can pay for out of pocket.

That’s where student loans come in — and generally, the first place to look for student loans is the government.

Despite the common misconception that federal student loans are only available to traditional-age college students, there’s no upper age limit. And unlike many private student loans, applying for federal student aid doesn’t require a credit check.

Depending on your income, you may be eligible for Direct Subsidized Loans, which give you a break on interest while you’re enrolled at least half-time and for six months after you graduate. (The Department of Education pays the interest during those times.)

You’ll pay interest on the loan when monthly payments begin, but that subsidy can mean substantial savings over time.

The U.S. government also offers Direct Unsubsidized Loans, which start accruing interest immediately but carry fixed interest rates that are often lower than those from a private student loan lender.

Whichever type of federal loan you take out, you generally don’t have to start making payments until six months after you graduate. With some private student loans, payments begin right away.

To apply for federal student loans, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA®).

Many colleges will also require you to fill out the FAFSA in order to qualify for institution-specific forms of financial aid. Applying can also help qualify you for work-study programs.


💡 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.

Private Student Loans

Along with government-sponsored student loans, a wide variety of private student loans are available, many of which may be easier to qualify for as an adult with a more robust credit history.

While traditional-age collegians often need to enlist the help of a cosigner to apply, adult learners may not need to, and might also score better terms if they have good or excellent credit.

That said, it’s important to understand that private student loans sometimes carry higher interest rates than federal loans, and the rates can be variable.

Deferral and income-driven repayment are available to eligible borrowers of federal student loans, but such options may be limited for private student loan holders, depending on the lender. It’s always important to read all the fine print up front.

The Takeaway

Paying for college as an adult learner may feel daunting, but it’s far from impossible. By combining funding sources — such as scholarships, grants, employer education benefits, and federal or private student loans — you can create a financial plan to fit your circumstances.

Start your research early, ask plenty of questions, and don’t overlook options like credit for work or life experience that can reduce both the time and cost of earning your degree. With persistence and smart planning, you can pursue higher education without letting the price tag hold you back.

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

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

FAQ

How do adult learners pay for college?

Adult learners often combine several funding sources to cover tuition and expenses. Common options include federal and state financial aid, scholarships specifically for nontraditional students, employer tuition reimbursement, and private grants. Many also use savings, payment plans, or part-time work to reduce debt.

Filling out the Free Application for Federal Student Aid (FAFSA®) is a good place to start, as it can unlock grants, low-interest loans, and work-study programs, even for students who have been out of school for years.

What is the $7,000 grant for college students?

The “$7,000 grant” often refers to the federal Pell Grant, which provides need-based aid to eligible undergraduate students, including many adult learners. For 2025-26, the maximum award is $7,395. This money does not need to be repaid and can be used for tuition, fees, books, and living expenses. Award amounts are based on financial need, cost of attendance, and enrollment status. Students must complete the FAFSA® to apply.

What income is too high for FAFSA?

There is no set income cutoff for the FAFSA®, as eligibility depends on multiple factors, including your family’s income, assets, and living expenses. While very high incomes may reduce or eliminate grant eligibility, many middle- and upper-income families still qualify for federal loans or work-study. Even if you think you earn too much, filling out the FAFSA is worthwhile — some scholarships require it regardless of income level.

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College life is about getting a great education, exploring interests and activities, and forging your own adult identity. It’s also a perfect time to establish some good money habits that will set the scene for financial success today and tomorrow.

From developing a budget to opening bank accounts, there are ways you can make your money work harder for you over time so you can achieve your goals.

Read on to learn the 10 best strategies for good money management for college students.

Why Learning to Manage Your Money in College Is a Superpower

As a student, you’re at a key point in your life where you’re taking charge of your finances, perhaps for the first time ever. Learning the skills and knowledge you need to make informed decisions about your money — something known as financial literacy — is important now and in the future. It can help you save more, spend wisely, and avoid too much debt. Being financially savvy can also help manage your student loans and choose the bank accounts and credit cards that make the most sense for you.

The financial moves you make as a college student can set you up to build wealth and reach your financial goals in your twenties, thirties, and beyond. This includes buying a car, renting an apartment, putting a down payment on a house someday, and saving for retirement.

10 Essential Money Management Tips for College

Here are 10 financial tips for college students that can help you spend less and save more during and after school.

1. Create a Simple College Budget That Actually Works

Budgeting may sound complicated, but making a budget is simply a matter of figuring how much is coming into your bank account each month and how much is going out, and then making sure the latter doesn’t exceed the former.

To get started, list all of your sources of income, such as from a part-time job or family contributions.

If you are living off a fixed amount of money for each semester, say from summer earnings, you may want to divide this lump sum by the number of months you need to make the money last.

Once you know how much you have to live on monthly, make a list of regular expenses that you will be responsible for paying, such as your cell phone or a car payment, or maybe rent if you live off campus.

Next, you’ll want to subtract your fixed expenses from your monthly income. This will give you the amount you have left over to cover variable and discretionary expenses, such as eating out, buying clothes, and entertainment. You can then come up with target spending amounts for each category.

Doing your best to stay within these spending limits can help ensure that your money lasts until the end of the semester, and help you avoid running up costly credit card debt.

2. Open a Student-Friendly Bank Account (like SoFi)

You might feel like you don’t have enough income to start saving money yet, but even just putting a small amount in the bank regularly can add up over time.

You can open a checking account as a place to start saving. If you’re able to set aside $50 a month, you could soon have a decent sum. And if you have a part-time job, your paycheck can be directly deposited into your account. That way you won’t be tempted to spend it.

Being diligent about saving money each month can help cultivate a habit that will serve you later when you can afford to save more for your future goals, including retirement.

As you’re choosing a bank, you may want to look for one with an ATM near you for convenience and to avoid out-of-network fees. For example, with a SoFi checking account, you’ll have fee-free access to more than 55,000 ATMs worldwide.

3. Build Your Credit Score Responsibly With a Credit Card

When you open a bank account, you’ll likely also apply for a debit card to make managing your financial transactions easier. But don’t forget about a credit card for convenience, as a backup for emergencies and to start building a credit history.

But don’t overdo it. To manage finances in college, use your credit card only when you need it. Pay off your debt in full each month, otherwise you could end up paying a high-interest rate on the balance, which can make it even harder to pay off.

Using your credit card responsibly by making small purchases and paying off the balance in full can help you build your credit.

4. Start a Small Emergency Fund for Unexpected Costs

Life can be unpredictable and having a financial safety net can help protect you from costs that pop up — if your car breaks down or you’re facing a sudden (and costly) medical procedure, for example. That’s why it’s important to start an emergency fund or back-up savings fund as a critical part of your long-term financial health.

Having an emergency fund can help keep you from having to rely on credit cards to get through a financial challenge.

How much you should put aside for emergencies each month is up to you and your financial situation. Many financial professionals recommend saving at least three to six months’ worth of expenses. But it’s better to have a small fund than not to have a fund at all. The key is to start saving something each month, no matter how small the amount may seem.

When building your emergency fund, it’s a good idea to fund the account regularly if you can. Consider setting up an automatic transfer to your savings so you don’t have to think about it.

Ideally, your emergency fund should be in a separate savings account so you won’t be tempted to spend the money on something else.

5. Understand How Your Student Loans Work

A crucial part of money management for college students is understanding how your student loans work and what’s required to repay them. Familiarize yourself with the types of loans you have (federal and/or private), and then take a look at how the interest on each loan is handled. For example, if you have federal Direct Subsidized Loans, the interest is covered for you while you’re in school. With federal Direct Unsubsidized Loans, however, you are responsible for all the interest that accrues — even while you’re in school — and it accrues daily, meaning it can build up significantly over time. For this reason, you may want to make interest-only payments on your loans while you’re in school, if possible.

You can find information about your loans by logging into your account at StudentAid.gov. There, you’ll see the different loans you have, how much you owe, the interest rate of each, and who your loan servicer is.

While you’re at it, start exploring the different options for repayment, so you can get started without a hitch when the time comes. Many changes are coming to student loans as part of the big domestic policy bill that was signed into law in July 2025, so it’s a good idea to study up on the options now.

6. Find Ways to Earn Extra Income On Campus or Online

There are a number of side hustles for college students that can help you earn some extra cash. For instance, you could become a tutor and help other college students learn a subject in which you excel. Or you could pet-sit on evenings and weekends or do lunchtime dog walking (as long as you don’t have class). Other potentially lucrative side hustles include becoming a ride share driver or delivering food and groceries for a company like DoorDash or Instacart.

A side hustle can be flexible so you can fit it around your class schedule. You can also set your own hours for the most part, unlike a more traditional job. You can use some of the money you earn to cover your daily expenses and then put the rest into the bank to build your savings.

7. Master the Art of Saving on Everyday Expenses

Financial tips for college students include saving money on the daily expenses that can add up over time. Take eating out. You may get tired of cafeteria fare. At the same time, you don’t want to blow your budget on eating in restaurants every weekend. If you have access to a kitchen, consider purchasing ingredients from your local supermarket and putting together some simple, tasty meals, instead of eating out. This can be a good way to save money on food.

Another idea to stretch your money is to find freebies. Facebook has groups where people can post items they no longer want. You might be able to score free clothes, furniture, or room decor. Freecycle and NextDoor also have listings for things that people are giving away.

Finally, rethink some of your major expenses, like textbooks. Buying them new can be costly. Fortunately, there are a number of ways to save on college costs like this. One option is to buy up-to-date versions of used textbooks whenever you can. Getting the digital version of a book can also yield savings. You could also rent what you need from a third-party bookseller, such as Amazon or Chegg.

Sell any books that you’ve purchased (new or used) that you won’t need again in the future to recoup some of the expense.

8. Use Your Student ID for All It’s Worth

You may think of your ID card only as a form of identification and a way to get into college sporting events. But there are actually additional benefits that come with a student ID, and many can help you save money.

Some businesses, especially those near universities, offer students discounts when they show a student ID card.

Next time you go to the movies, shop for school supplies, go out to eat, or get a haircut, it’s a good idea to ask if they offer any discounts for local college students.

In addition, many national and online retailers, including major clothing, sneaker, and computer brands, offer discounts to college students.

You may also be able to use your student ID to get a better deal on your cell phone plan and streaming services. Make sure to maximize this valuable resource.

9. Protect Yourself From Financial Scams Targeting Students

College students who are on their own for the first time and learning how to manage their money can be prime targets for scammers. In fact, young adults ages 18 to 24 report the second median highest dollar loss to scams after adults 65+), according to the Better Business Bureau’s 2024 BBB Scam Tracker Risk Report.

Some common scams that target college students include:

•   Fake employment offers — students are asked to pay a fee or provide personal and financial information to fill out an “application”.

•   Student loan debt-relief scams — students are contacted by representatives who claim to be from debt relief companies and offer to reduce or eliminate their college debt for a fee.

•   Fake scholarships or grant offers — students receive notice that they’ve been awarded a grant or scholarship they never applied for and are asked to supply their Social Security number or other personal information in order to receive it.

To avoid becoming a victim of a scam, never give out personal information to anyone you don’t know. If you are contacted unsolicited by a person asking for information or a fee or a supposed service they can provide for you, hang up or don’t respond to their text or email. And beware offers that seem too good to be true. Always err on the side of caution.

10. Dip Your Toes Into Investing (Even With Small Amounts)

Investing when you’re young can potentially be one of the best ways to help your money grow over time.

That’s thanks to compound returns, which is when any returns you earn are reinvested to earn additional returns. The earlier you start investing, the more benefit you may gain from compounding.

It’s important to keep in mind, however, that all investments involve some level of risk because the market fluctuates over time.

If you’re interested in investing, you could start small by opening a traditional or Roth IRA and putting a little money from a part-time job into it, or you could opt for an online brokerage account. Either way, even if you invest just $50 a month, you’ll be saving for your future.

A Deeper Dive: How to Build Your Credit in College

Building your credit now as a college student can help you once you graduate. Without a credit history, it can be challenging to take out a loan or get a credit card, among other things. If you’ve already established credit, you’ll likely be able to get your post-college life started more easily.

To help build your credit, get a credit card while you’re in college. Use it judiciously for small purchases and then consistently pay your bill on time and in full each month. This kind of responsible credit card use can help you build your credit history. You’ll need a strong credit history if you want to get the best terms on a car loan, a mortgage, or a student loan for grad school. Your credit can even affect your job prospects and your ability to rent an apartment.

It’s also a good idea to monitor your credit report regularly to make sure it’s accurate. You can get a free credit report annually from the three major credit bureaus. If you spot any errors, be sure to report them right away.

And finally, once it’s time to start making your student loan payments, be sure to make each monthly payment on time and in full. This can help you establish a positive payment history, which can also strengthen your credit.

A Deeper Dive: Making Sense of Your Student Loans

As noted earlier, understanding your student loans and how they work is extremely important. A student loan is a legal obligation and you are responsible for paying what you borrow, plus interest. Staying on top of your loans now, while you’re still in college, can make it easier to manage them.

First, make sure you know what kind of student loans you have. There are federal and private student loans, and they each work differently. Find out the interest rate for each loan and how the interest is handled.

Keep track of how much you’re borrowing with student loans and try not to borrow more than you need. Read the terms and conditions of your loans and make sure you understand them. Keep all your loan documents so you can refer to them when you have questions. Know who your loan servicer is and contact them if you have questions.

And log into your account on StudentAid.gov to make sure all the information on your federal loans is correct and up to date.

Finally, make your monthly student loan payments in full and on time. If you are struggling to repay your loans, contact your loan servicer to see what your options are. For instance, with federal student loans, you may be able to switch to a repayment plan that bases your monthly payments on your discretionary income and family size.

The Takeaway

College can provide a great opportunity to develop the money skills you’ll need after you graduate. By learning basic money management techniques now, you can gain confidence in your ability to handle your finances well after graduation.

In 10 years, you’ll likely thank yourself for putting in the effort to learn how to set and stick to a monthly budget, use credit cards wisely, save and invest money, manage your student loans, and build your credit score.

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.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

How much money should a college student have in savings?

College students should have an emergency savings fund to help cover any unexpected expenses. While financial professionals often recommend having three to six months’ worth of living expenses in an emergency fund, that amount might be difficult for a college student with a limited income. Instead, some financial pros suggest aiming to have $500 or $1,000 in the bank as a college student. To help get there, save regularly. Even if you deposit just $20 in your emergency fund each week, it will continue to grow steadily.

How can I start a budget in college?

One method for starting a budget in college is to use the 50/30/20 rule. Here’s how it works: You allocate 50% of your income to needs (such as bills, rent, and other fixed monthly expenses), 30% to wants (such as eating out or going to the movies), and 20% to saving for your financial goals (such as a down payment on a car or a house, or for retirement). Because the formula is simple, it can be an easy way to manage your money as a college student and after graduation.

Is it a good idea to get a job during my freshman year?

Whether or not it’s a good idea to get a job during your freshman year depends on your unique circumstances and financial situation. A job can help you cover some of the costs of college, but you’ll want to make sure that it doesn’t interfere with your classwork or studies. If you need the income, you may want to consider a flexible part-time job that you can do after classes or on weekends as your schedule allows, such as pet-sitting or tutoring.

What are the most common financial mistakes students make?

Some of the most common financial mistakes students make include overspending, charging too much on credit cards, failing to put money into savings, and mismanaging student loans, including borrowing more than needed. To avoid these mistakes, make a budget so that you don’t spend too much. Also, use credit cards only for small purchases and pay your bill in full each month to avoid accumulating credit card debt. Put money into a savings account regularly. And finally, make sure you know exactly how much you need to pay for college, and don’t borrow more than that in student loans.

What percent of college students drop out because of money?

According to the most recent statistics from the Education Data Initiative, approximately 23% of college students leave school every year, and 41% of college dropouts say they left for financial reasons.

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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.

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While applying to college, students and parents may consider a variety of factors before enrolling. Those factors could include a school’s academic programs, location, sports programs, tuition, and potential financial aid.

But there is one more thing families may want to think about: A college or university’s endowment. Not familiar with the term?

Here’s helpful information about university endowments, how they work, how they are managed, which schools have the largest ones, and how those university endowments could potentially benefit students.

What Is an Endowment?

A university endowment refers to the amount of money a college or university receives via donations from its alumni or other interested parties. This money is then invested by the academic institution to help grow its savings and to provide funding for the future.

Some schools can have endowments well into the billions made up of potentially hundreds or thousands of individual gifts.


💡 Quick Tip: When shopping for a private student loan lender, look for benefits that help lower your monthly payment.

Types of Endowments

Not every university uses the same endowment system. Typically, a university has one of four types of endowments. Those include unrestricted endowments as well as term, quasi, and restricted endowments.

An unrestricted endowment means the university may choose to spend or distribute the donations it receives however it wishes. With a restricted endowment, the academic institution must hold the principal of the invested donation in perpetuity.

With a restricted endowment, the academic institution must hold the principal of the invested donation in perpetuity. The earnings from the invested assets can be used, but only at the donor’s specifications at the time of giving. For example, if a donor gives a $25,000 donation specifically earmarked for a scholarship, any principal earnings must be used on the scholarship.

A term endowment means a university can use the principal after a period of time has passed or if a specific event occurs. With a quasi endowment, the university (rather than a donor) decides to retain, invest, and use earnings for a specific purpose.

Recommended: Finding Free Money for College

How Does University Endowment Giving Work?

If a person wants to donate to their alma mater, or just give to the academic institution of their choice, they can do so at any time. With a standard donation, however, the donor typically does not have much, if any, control over how the funds are spent.

If a donor wants control over how their donation will be used, they may prefer to give via endowment. Colleges and universities typically set a minimum when it comes to endowment gifts, and those minimums can be quite hefty.

For example, Michigan State University’s law program endowments begin at $50,000. Other universities set different minimum funding levels for different types of endowments.

At the University of Illinois Springfield, for instance, you can create an “endowed” scholarship for $25,000. You can even name the scholarship fund, perhaps in honor of a family member or someone you admire.

Recommended: How to Pay for College With No Money Saved

Who Manages a University Endowment?

Every school decides how to best manage its own endowment. Some colleges and universities hire internal staff to manage their endowments while others hire outside firms and professional investors to oversee the money.

There may be an endowment manager or a committee or team that works to manage the funds. They will generally work with the university to decide its goals for the endowment, such as making as much income as quickly as possible, or going for more long-term sustainable growth. Then, decisions about how and where to invest the money are made to help the endowment meet its goals.


💡 Quick Tip: Need a private student loan to cover your school bills? Because approval for a private student loan is based on creditworthiness, a cosigner may help a student get loan approval and a lower rate

Which Universities Have the Largest Endowments?

According to US News and World Report, Harvard University has the largest endowment at around $50.7 billion. Yale University comes in a distant second with roughly $40.7 billion, and Stanford University comes in third with approximately $36.5 billion.

Princeton University comes in at number four with $33.4 billion and Massachusetts Institute of Technology rounds out the top five with $23.5 billion.

University of Pennsylvania, Texas A&M University, University of Michigan–Ann Arbor, University of Notre Dame, and Columbia University make up the remaining top 10 with endowments ranging from around $13.6 to $21 billion.

However, these schools can be considered major outliers on the endowment scale. According to a 2024 survey of 658 U.S. colleges by the National Association of College and University Business Officers, the majority of university endowments are $250 million or less; nearly a third of schools reported endowments of less than $100 million.

Recommended: 11 Strategies for Paying for College and Other Expenses

How Are University Endowments Used and Why do They Matter?

University endowments can be used for a variety of financial needs, including hiring new professors, building new buildings or upgrading old ones, offering students fellowships or scholarships, and distributing financial aid.

Beyond these uses, endowments also allow colleges and universities to look ahead into the future. It helps schools plan for faculty hiring, stave off tuition increases, plan for new facilities, and more.

Recommended: What Is the Average Cost of College Tuition in 2023?

Taking Advantage of Endowments

While students will never have direct access to a college or university’s endowment, they could still reap the benefits of any and all donations. Those benefits could come in the form of having access to newer facilities and equipment, through research opportunities, or via learning from the highest skilled professors.

Of course, students can also take advantage of a university’s endowment by applying for specific scholarships funded by donors, or by applying for any and all available financial aid to help them pay for college.

The Takeaway

University endowments are donated funds that schools invest to support long-term goals like scholarships, faculty hiring, research, and campus improvements. They come in different types, each with rules on how the money can be used, and are often managed by professional investors or dedicated staff. While the largest endowments belong to a handful of wealthy universities, even smaller ones can enhance student opportunities, from upgraded facilities and academic programs to more general financial aid packages.

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

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

FAQ

How do universities use endowments?

Universities use endowments as long-term investment funds to support their mission. The principal (original donation) is typically preserved, while investment earnings are spent on specific purposes, such as scholarships, faculty salaries, research, campus maintenance, and academic programs. Many endowments are restricted by donor intent, meaning funds must be used for designated projects.

Why does Harvard have a $50 billion endowment?

Harvard’s endowment has grown to over $50 billion due to centuries of donations, strong investment returns, and careful financial management. Alumni and philanthropists contribute large gifts, often earmarked for specific purposes, while Harvard’s investment team diversifies across stocks, bonds, private equity, and real estate. Over time, compounding returns significantly increase the fund’s value.

How is an endowment paid out?

Colleges and universities generally distribute a fixed percentage — often 4% to 5% — of their endowment’s value each year. This payout policy helps ensure consistent funding without depleting the principal investment. The distributed funds are typically used for donor-designated purposes, such as student aid, faculty support, or program funding.

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