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Starting college comes with a lot of choices —- from what classes to take to how you’ll make new friends. One of the biggest decisions you might face is whether or not to join Greek life. Fraternities and sororities have a big presence on many campuses and you’ll probably hear plenty of opinions about them, both good and bad.

So how do you know if “going Greek” is right for you? Like most big decisions, it comes with pros and cons. Greek life can give you instant friendships, leadership opportunities, and even career connections, but it can also be expensive, time consuming, and involve negative aspects like hazing or excessive partying.

Before you rush or pledge, it’s worth weighing the pluses and minuses to see whether joining a fraternity or sorority fits into the kind of college experience you want to create.

What Is Greek Life in College?

Greek life refers to communities of students who often live together, volunteer, network, and build close friendships. These communities consist of sororities for women and fraternities for men.

While each chapter is unique, the main goal of sororities and fraternities is to foster connections, encourage leadership, and give back to the community.

Students who are interested in becoming members must apply and then go through an initiation process. Once accepted, they may live with their sorority or fraternity, usually in a house on campus, and participate in activities like sports, dances, parties, and community service opportunities.

Sorority and fraternity names consist of two or three Greek letters, like Phi Kappa Theta, Sigma Pi, or Delta Zeta. This is a nod to the first U.S. Greek letter society, Phi Beta Kappa, founded in 1776 at the College of William and Mary as a literary, debating, and social club.

Many students only know about sororities and fraternities from pop culture references like “Revenge of the Nerds,” “Animal House,” “Legally Blonde,” and “Old School,” which depict a perennial party. While there is some truth to that stereotype — and fraternities have come under fire for their alcohol use and hazing rituals — Greek life can be much more meaningful and beneficial than these portrayals.

💡 Quick Tip: SoFi offers competitives fixed- or variable-interest rates. So you can get a private student loan that fits your budget.

Upsides of Greek Life

Joining a fraternity or sorority comes with a number of advantages. Here’s a look at some of the perks.

Friends

Starting college can be intimidating, especially if you don’t know many people. Greek life gives you instant community. You’ll be able to bond with members through events, activities, and shared living, and likely build friendships that last long after graduation.

Networking Opportunities

Your chapter isn’t just a social circle, it can also help you develop a professional network. When you’re searching for internships or jobs, these connections can prove to be highly valuable. Plus, if you list your sorority or fraternity on your resume and a recruiter is a Greek life alumnus, that could open up a conversation and help you stand out.

Recommended: Penn State Out-of-State Tuition

Possibly Cheaper Housing

Living in college dorms can be pricey. If you are sharing a house with many members of a sorority or fraternity, you could potentially save money.

You may also save money by having access to a full kitchen, where you can make meals instead of purchasing a meal plan or eating at restaurants all the time.

Development of Leadership Skills

Sororities and fraternities need leaders who will come up with ideas for activities, pilot volunteering efforts, and recruit members.

If you step up and get involved, you’ll have the chance to take on new responsibilities and develop crucial skills that will be valuable when you graduate from college and start to look for jobs.

Volunteering Opportunities

Fraternities and sororities are often focused on philanthropy. From fundraisers to volunteer events, you’ll have plenty of chances to contribute to causes you care about — and that commitment can look great on a resume.

Potential Downsides of Greek Life

Of course, Greek life isn’t all parties and friendships. Here are downsides to weigh:

Cost

You typically need to pay membership dues each year you are a member of a fraternity or sorority, which can range from several hundred to several thousand dollars a semester. Chapter or national fees may also apply. In addition, you may have to chip in for party supplies, buy tickets to formals, and purchase/rent clothing for special events.

Recommended: Ohio State University Cost

Reputation

Greek life’s reputation can be a double-edged sword. While some chapters focus on academics and service, others are known for heavy partying. Hazing and alcohol-related incidents have even led to tragedies on some campuses.

If you do join, it’s important to choose a chapter that aligns with your values and to prioritize your safety and academics.

Time Commitment

Because Greek life involves so many events, and members are expected to participate, joining a sorority or fraternity generally requires a large time commitment.

Spending too much time on Greek life activities and not enough on studying or working at internships could have a negative impact on your future.

Determining Whether or Not to Join Greek Life

Joining a fraternity or a sorority can be a great way to make friends, build leadership skills, and give back to the community. But it’s not for everyone.

If you thrive in a busy, social environment and are willing to commit your time (and money), you may find Greek life incredibly rewarding. On the other hand, if the costs feel overwhelming, or if you’re worried about distractions, you might prefer to find community in other ways — through clubs, sports, or student organizations.

And if finances are a major concern, remember there are a number of ways to pay for college, including grants, scholarships, subsidized and unsubsidized federal student loans, and private student loans.

💡 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.

The Takeaway

A sorority or fraternity can provide camaraderie and enduring connections, and enhance a call for service and leadership. It can also be time consuming, expensive, and potentially distract you from your studies.

Ultimately, whether you join comes down to your priorities. For some students, it’s one of the best choices they make in college. For others, it’s not the right fit. The key is figuring out where you want your college experience to take you.

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

FAQ

What are the pros and cons of Greek life?

Greek life offers community, networking, leadership opportunities, and a strong sense of belonging. Members often benefit from social events, academic support, and lifelong friendships. However, it also comes with downsides such as time commitments, financial costs, and the risk of negative stereotypes surrounding fraternities and sororities. In some cases, hazing and party culture can overshadow the positive aspects. Overall, it’s a highly personal decision.

What are the disadvantages of being a member of a fraternity?

Joining a fraternity can provide a powerful support system through friendships, mentoring, and networking. Many fraternities emphasize leadership, philanthropy, and academic achievement, helping members grow both personally and professionally. The social opportunities can create lasting bonds, while alumni networks often open doors to internships and careers. For students seeking connection and growth, fraternities can offer benefits that can extend well beyond college.

Does Greek life look good on a resume?

Yes, Greek life can be a strong addition to a resume if highlighted correctly. Employers often value the leadership, teamwork, event planning, and organizational skills students develop through fraternity or sorority involvement. Holding officer roles or participating in philanthropy demonstrates responsibility and initiative. However, it’s best to focus on measurable achievements rather than just membership.

About the author

Julia Califano

Julia Califano is an award-winning journalist who covers banking, small business, personal loans, student loans, and other money issues for SoFi. She has over 20 years of experience writing about personal finance and lifestyle topics. Read full bio.

When you fill out the Free Application for Federal Student Aid (FAFSA®) form, one of the first things you’ll need to determine is whether you’re a dependent or independent student. Your dependency status not only impacts the information you need to report on the form, but also the type and amount of aid you may be awarded.

Dependent students must include both their own and their parent’s financial information on the FAFSA. Independent students, on the other hand, only need to report their own finances (and their spouse’s, if married).

Below, we break down what it means to be independent vs. dependent for FAFSA purposes.

The Difference Between Independent and Dependent Students

Your FAFSA dependency status determines whose financial information is considered when calculating your aid eligibility.

What Is an Independent Student?

An independent student is generally defined as someone who is not reliant on their parents for financial support and can therefore file their FAFSA without including their parents’ information.

You’re considered an independent student if you meet at least one of the following criteria:

•  Age 24 or older

•  Married

•  Enrolled in a graduate or professional program

•  A veteran

•  A member of the U.S. armed forces

•  An orphan

•  A ward of the court

•  A current or former foster youth

•  In a legal guardianship (current or past)

•  Have legal dependents other than a spouse

•  An emancipated minor

•  Unaccompanied and homeless or at risk of becoming homeless

💡 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.

What Is a Dependent Student?

If none of the independent criteria apply, you’re classified as a dependent student. Generally, dependent students are under 24 years old, unmarried, without dependents, and not veterans or active duty members of the U.S. armed forces.

If you are considered a dependent student, your parents’ information will be assessed along with your information to get a full picture of your family’s financial situation. Even if your parents do not intend to contribute to your education costs, their information will be used to determine what aid, if any, you receive. A dependent student is assumed to have the support of their parents.

How FAFSA Determines Your Status

Each year, the FAFSA asks a series of key questions to help students determine their official status. These questions change slightly each year, so be sure to read them carefully.

Here’s a look at the dependency status question on the 2025–26 FAFSA Form:

•  Were you born before Jan. 1, 2002?

•  As of today, are you married? (Answer “No” if you are separated but not divorced.)

•  At the beginning of the 2025–26 school year, will you be working on a master’s or doctorate program (such as an M.A., MBA, M.D., J.D., Ph.D., Ed.D., graduate certificate, etc.)?

•  Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training? (If you are a National Guard or Reserves enlistee, are you on active duty for other than state or training purposes?)

•  Are you a veteran of the U.S. Armed Forces?

•  Do you have children or other people (excluding your spouse) who live with you and who receive more than half of their support from you now and between July 1, 2025, and June 30, 2026?

•  At any time since you turned age 13, were you an orphan (no living biological or adoptive parent)?

•  At any time since you turned age 13, were you a ward of the court?

•  At any time since you turned age 13, were you in foster care?

•  Are you or were you a legally emancipated minor, as determined by a court in your state of residence?

•  Are you or were you in a legal guardianship with someone other than your parent or stepparent, as determined by a court in your state of residence?

•  At any time on or after July 1, 2024, were you unaccompanied and either (1) homeless or (2) self-supporting and at risk of being homeless?

Recommended: Penn State Out-of-State Tuition

Dependent Students

If you answered “No” to all of the questions above, you are considered to be a dependent student. This means that your Student Aid Index (SAI) will be based on both your income and your parents’ financial profile. While this may reduce your eligibility for need-based aid, your parents can access Federal Parent PLUS Loans and may qualify for education tax credits when they fill out their federal tax return.

If you are considered a dependent student by the FAFSA but are not in contact with your parents or have left home due to an abusive situation, you may qualify for a dependency override. In this case, you’ll want to fill out the FAFSA and select “Yes” to the “Do unusual circumstances prevent the student from contacting their parents or would contacting their parents pose a risk to the student?” question on the form. You’ll be considered provisionally independent. To complete your application, you’ll need to contact the financial aid office at the college you plan to attend to find out what supporting documentation you’ll need to submit directly to the school.

Independent Students

If you answered “Yes” to one or more of the questions listed above, you are considered to be an independent student. This means you only need to report your own finances (and your spouse’s, if applicable) on the FAFSA form. Being independent could increase your potential for financial aid, as your parents’ income and assets are not considered in the aid calculation.

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

When Federal Student Aid Falls Short

FAFSA-based aid is a great starting point, but it’s often not enough to cover the full cost of going to college. Here are some other funding options to explore:

•   Scholarships: There are numerous scholarships available through individuals, businesses, nonprofits, community groups, and professional associations. They may be awarded based on merit, financial need, athletics, field of study, religion, ethnicity, or other criteria, and do not need to be repaid. You can find out about scholarships through your high school guidance counselor, your chosen college’s financial aid office, and by using an online scholarship finder. “Start researching scholarships early,”advises Brian Walsh, CFP® and Head of Advice & Planning at SoFi. “Gathering the required documents and information to apply takes time, and early deadlines are common for large awards.”

•   Part-time jobs: Even if you weren’t awarded Federal Work-Study, you can still look for a part-time job on or off campus to help cover costs. Working can provide valuable experience and help reduce the amount you need to borrow. Your school’s career services office may be able to help you find a position. Summer jobs can also help you rack up extra cash to help pay for college.

•   Federal student loans: If you need to borrow money, it’s a good idea to exhaust all federal student loan options before turning to private loans. Federal loans often have lower fixed interest rates and offer benefits (like income-driven repayment and borrower protections) that may not be available with private loans. You’ll need to complete the FAFSA to be eligible for federal student loans.

•   Private student loans: If you still have a funding gap after exploring federal loans, private student loans can help cover the difference. These loans are offered by banks, credit unions, and other financial institutions. They are credit-based, so you may need a cosigner, especially if you have limited credit history. It’s a good idea to compare offers from different lenders, considering interest rates, fees, and repayment terms.

Recommended: Ohio State University Cost

The Takeaway

Understanding whether you’re considered a dependent or independent student for FAFSA purposes is critical because it directly affects how much financial aid you may qualify for. Dependent students will need to include their parents’ financial information, while independent students report only their own (and their spouse’s, if applicable).

If federal aid alone isn’t enough, you can also look into scholarships, part-time work, and responsible borrowing options to help cover the cost of your education. The more you understand your status and options, the better prepared you’ll be to create a solid financial plan for college.

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

Is it better for a college student to file independent or dependent?

For the FAFSA®, you’re generally better off being classified as independent. As an independent student, you do not need to report your parents’ income and assets on the form, which could lead to more aid. However, you need to meet specific criteria, such as being over age 24, being in graduate school, being married, having dependents, or being a veteran. If you don’t meet any of these criteria, you’ll be considered a dependent student and must provide your parents’ financial information on the FAFSA.

Who qualifies as a dependent student?

For FAFSA® purposes, a student is typically considered a dependent if they are under age 24, unmarried, without dependents, and not veterans or currently serving in the U.S. military.

At what age are you considered an independent student?

In terms of financial aid, a student automatically becomes independent at age 24. Before then, students can qualify as independent only under certain circumstances, such as being married, having dependents of their own, serving in the military, being a veteran, or being an emancipated minor. If none of these special circumstances apply, a student is considered dependent until their 24th birthday, even if they live on their own and cover their own expenses.

About the author

Jacqueline DeMarco

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

If you’re a homeowner considering a range of home improvements, you may not know if what you’re planning is a renovation or a remodel. Does it matter? Yes, because there are key differences.

A renovation is an update of an existing room or structure, while a remodel affects the design and purpose of an area. The more extensive work in a remodel will influence the cost and length of your project.

What Is a Renovation?

During a renovation, one or more rooms are updated and repaired. This might include new cabinets, flooring, and paint, for instance.

The bones of the room are typically left intact, though some structural issues may be fixed in a renovation, such as replacing rotting wood or swapping out window frames suffering from water damage.

A kitchen renovation might include replacing appliances, faucets, and knobs, while a bedroom reno might call for paint, new rugs, or new lighting.

Bathroom renovations often involve installing new tile, towel racks, and faucets.

Recommended: Home Improvement Cost Calculator

Advantages of a Renovation

Renovations are typically less costly than remodels, thanks to several factors.

You Can DIY

If you’re handy, you can slash some of the cost of hiring someone to undertake your renovation by doing some of the work yourself.

Because most renovations don’t require structural changes, you likely won’t need to hire licensed professionals to get it done. That means anything that you’re capable of — painting, wallpapering, floor sanding — you can do and pocket what it would have cost to hire help.

Just make sure you are skilled enough; hiring a professional to redo what you couldn’t complete may cost you money you didn’t plan on spending.

You May Get a Better Return on Investment

Since a renovation doesn’t call for major expenses like hiring licensed professionals or other construction-related outlays, in some cases the project offers more bang for the buck than a remodel does.

Renovation-related tweaks will still improve the look and feel of your home, and thus increase the value of your home, without the major expense a remodel entails.

You Can Expect Fewer Hidden Costs

When you’re renovating a room, your action plan is pretty cut and dried, and there aren’t likely to be surprises that require you to spend more than you planned.

Not so with a remodel, which, due to its scope, may result in additional costs to fix unforeseen problems such as hidden water damage, termites, or asbestos. These surprises can also lengthen the time of your project.

What Is a Remodel?

Remodels are typically more extensive than renovations. They include altering the function and sometimes the structure of an area of the house.

If your project calls for tearing down or adding walls, or changing the layout of a room, you’re planning a remodel.

Some examples of remodels: changing a powder room into a laundry room, knocking down a wall between a dining room and kitchen to create a great room, building an addition to your existing home, or expanding a closet into a dressing room.

Even if you’re not tearing down or adding walls, your project may be a remodel. This might include moving kitchen appliances around to improve room flow for a kitchen remodel, tearing out a tub and installing a walk-in shower in a bathroom, or turning a small guest bedroom into a home office.

Advantages of a Remodel

Many homeowners find there are pluses to a remodel as opposed to a renovation.

You Have the Opportunity to Customize Your Home

As homeowners grow with their home, they may find that their needs change.

Some may want an addition to accommodate an aging parent, while others may have expanded their families and need to convert a home office into a nursery or finish an attic and turn it into a bedroom. Empty-nesters may want to use one of their bedrooms as a study or gym.

A remodel affords them more options than a renovation does because they can make the necessary changes — however major — to achieve their needs.

You May Experience Hidden Benefits

Adding an island to a kitchen and removing a wall to create a larger space might mean more than increased room to prepare meals. You may find your family spends more time together in rooms that are spacious and inviting.

Similarly, retrofitting your heating and cooling system, adding under-floor heating, and replacing insulation might result in lower utility bills, freeing up money for hobbies or vacations.

Recommended: Guide to Buying, Selling, and Updating Your Home

Why a Remodel May Cost More Than a Renovation

All of that means remodels are costlier than renovations. Here’s why.

You May Need Permits

Thanks to the extensive nature of most remodels, many cities require homeowners to secure a permit before they begin work, especially if the project involves creating an addition to the home, or if new walls or new roofs are being installed. This is to ensure that building codes are followed.

If you need permits, you will want to factor in the time it takes to secure them into your timeline. Once the permits are approved, the project may begin. And once it is completed, it will likely need to be approved by a local inspector.

You May Need Professional Help

If your remodel requires electrical, duct, or plumbing work, you will likely need to hire a licensed professional to complete it.

You may also need a general contractor to hire and oversee these workers and others for larger remodels like adding a guest suite to the home or converting an attic to a home office with an en-suite bathroom.

These vendors, while necessary, can be costly since you are paying for their time in addition to any materials.

You May Be Dealing With Construction

While it can be exciting to imagine what your home will look like after a remodel, getting there can be taxing. That’s because you may be living in a construction zone while the project is underway.

It can be difficult to have to eat multiple takeout meals because your kitchen is being worked on, or deal with dust from work being done in the next room over.

If their remodel is especially extensive, some homeowners find they need to rent a home nearby until the remodel has been completed.

Recommended: 15 Ways to Keep Inflation from Blowing Your Home Reno Budget

Paying for a Remodel or Renovation

Whether you’re undertaking a renovation or remodel, you’ll want to have a budget and a payment plan. Some renovations are small enough that homeowners can pay upfront.

Those tackling remodels and larger renovations might tap a home equity loan or home equity line of credit, in which the home is used as collateral.

A home equity loan lets you borrow a set amount of money based on your equity in the home. You start paying it back in regular payments immediately, and if you don’t or can’t, you risk foreclosure. If you have a relatively solid sense of what your remodel will cost and are sure you can afford the added monthly payments, this could be a good option.

A home equity loan of credit (HELOC) also draws on your home equity but offers more flexibility. Instead of getting a lump sum, you can access a revolving line of credit (up to a set maximum) and draw from that when you need it, paying interest only on what you’ve taken out. Usually the “draw period” (the time during which you can pull out funds) lasts for a number of years, which should cover even lengthy remodels. However, when the draw period is over, your payments of principal and interest will depend on what you’ve taken out, so they can be less predictable than home equity loan payments. And if you default, you could lose your home.

Recommended: Home Equity Loans vs Personal Loans for Home Improvement

The Takeaway

Undertaking home improvements can be exciting for homeowners. But before you embark on a project, know whether you’re looking at a renovation or a remodel, how much inconvenience you’re prepared to put up with, and what you are willing to pay.

SoFi now offers home equity loans. Access up to 85%, or $350,000, of your home’s equity. Enjoy lower interest rates than most other types of loans. Cover big purchases, fund home renovations, or consolidate high-interest debt. You can complete an application in minutes.

FAQ

What is the difference between a remodel and a renovation?

A renovation involves making minor updates and/or repairs to an area in your home. A remodel is larger in scope and can include making structural changes to your house, like taking down walls or adding new rooms. Typically, a remodel is more expensive than a renovation.

How much does it cost to remodel vs. renovate?

A remodel is typically more extensive than a renovation and generally requires professional help, so it’s a more expensive proposition, potentially costing thousands of dollars. A renovation is usually more limited in scope and may be largely cosmetic, meaning that if you’re handy, you may be able to do much of it yourself, which can keep the cost much lower

Is painting considered a renovation?

Yes, painting walls or cabinets in your house is generally thought of as a renovation, since it’s essentially cosmetic, rather than a structural change. Other common renovations include installing a smart or programmable thermostat, changing light fixtures, replacing cabinet hardware, and putting in a bathroom vanity or new faucets.

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