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In the spring of 2022, nearly 18 million students attended American colleges and universities.

As exciting as this phase of life can be, experiencing some level of homesickness during the home-to-college transition is common. As a parent, you may feel a sense of responsibility when it comes to helping your now-adult child get over their homesickness. And there could be a reason for concern, since studies have shown that emotional or mental distress in college students can impact academic performance.

Fortunately, there are a number of ways parents can help their child adjust to being away from home (perhaps for the first time) and get the most out of their college experience. Read on to learn some simple ways you can help your child feel less homesick at college.

Recommended: College Planning Guide for Parents

Strategies to Help Your Child Cope with Homesickness

Watching your child experience homesickness from afar can be challenging. It may be tempting to rush to the rescue, but it is also important that your child find their footing on campus. These tips and ideas may be helpful as you support your child as they navigate homesickness and life on-campus.

Acknowledging the Situation

It can be comforting to know that you’re not the only one struggling with a given situation. So as a parent, it might be helpful to share with your child how common homesickness is among first-year students. Providing comfort and reassurance that they are not alone and that in time, their feelings of homesickness will pass, can go a long way.

Keeping In Touch

As you and your child adjust to your new dynamic, you may need to find new ways to keep in touch. Keep in mind that while your child is adjusting to on-campus life, you don’t want to be overbearing. Try setting up a weekly video chat or sending over fun updates from home in a text message. Remember to give your child the space they need to find their footing at school.

Sending a Care Package

When packing for college, adding a few items that bring the comfort of home could be helpful if your child starts feeling tinges of homesickness. Things like a favorite book, a blanket, or stuffed animal could be just the thing when homesickness creeps in.

Sending over a care package with some of their favorite cookies, candies, or snacks and a photo of a fun memory can provide a touch of home too.

Encouraging Your Child to Get Help if They Need It

If your homesick college student seems like they may benefit from professional help, you might encourage them to visit their campus counseling center. Many colleges also offer mental health services and counseling on campus, often at little to no cost.

If there are fees involved, they may be covered (at least partially) by health insurance. If your child is no longer on a family medical plan, it’s likely you’ve enrolled them in a college health insurance plan, which is often rolled into costs of tuition, room, and board.

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

Helping Your Child Find a New Familiar

It’s probably not the best idea for parents to visit their child every weekend — though it may be hard to control yourself if your child’s university is easily accessible. As lovely as it is that you’re a familiar face, it might be more helpful for your child to find a new familiar.

Instead, you might encourage your child to find ways to make their not-yet-so-familiar home feel more known. If your college student loves coffee, they might want to find a local shop they can visit frequently — turning it into their own personal hang-out spot.

If they’re into museums, discovering the best ones nearby could help them feel more grounded in their new environment.

Getting Involved on Campus

When someone is feeling down, it can be tempting to stay indoors and wallow in those feelings. Getting involved on campus can help students build community and connect with their peers. Colleges have lots of clubs and extracurriculars that can help students find like-minded individuals.

If committing to a club feels like too much, your child might connect with peers in a more casual way, from making friends in class or meeting new people during a dorm hall function.

Developing Healthy Routines

Physical health and mental health go hand in hand, so if your homesick college student is making less-than-healthy choices during this tough transition period, you might encourage them to make some changes in their routine.

This might look like starting their day with a walk to the campus coffee shop or finding a weekly exercise class. Creating a schedule and finding new, healthy routines can give your student something to look forward to.

Recommended: What Percentage of Parents Pay for College?

Developing a Plan to Pay for College

In addition to homesickness, paying for college can be an added layer of stress, for both parents and students. If your child is worried about money or constantly working at a job to help cover costs (rather than acclimating to college), you might want to look into additional sources of funding, such as scholarships and grants and/or student loans.

It’s important to fill out the Free Application for Federal Student Aid (FAFSA) every year, since this is required for a student or parent to qualify for any federal funds or loans.

For some students, federal student loans and other sources of aid may be enough to fund their college education. If it’s not, parents also have the option of taking out loans, such as the federal PLUS loan or a private student loan. You might also consider cosigning a private student loan for your child.

When comparing federal vs. private student loans, keep in mind that private student loans aren’t required to offer the same borrower protections, like deferment options or income-driven repayment plans, as federal student loans. For this reason, you generally want to look at private student loans only after you’ve exhausted federal loan and aid options.

💡 Quick Tip: Parents and sponsors with strong credit and income may find much lower rates on no-fee private parent student loans than federal parent PLUS loans. Federal PLUS loans also come with an origination fee.

The Takeaway

The transition to college life can be stressful for students, as well as their parents. Being in an unfamiliar environment, while trying to balance classes and making new friends can lead to feelings of apprehension, anxiety, and homesickness. As a parent, providing support from a distance can include things like sending a care package, checking in with a video call once a week, and encouraging your child to get involved in extracurricular activities.

Hopefully, in time, your child will settle into their life on campus — finding a new normal. If money worries are adding to your child’s (or your own) college stress, it can also be a good idea to explore funding options you or they might qualify for. Once the financial side of college is taken care of, your child will be free to focus solely on assimilating into campus life and fully embracing this exciting time in their life.

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.

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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. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

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

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If you’re looking for a cheaper alternative to a traditional house, you might consider buying a mobile home. The price of a mobile home (also known as a manufactured home) is typically much lower than a standard single-family home. Plus, these homes aren’t necessarily temporary. These days, factory-made homes can be just as permanent as houses that are built on-site. They can also be customized in many of the same ways as a traditional home.

While mobile homes don’t always qualify for a traditional mortgage, there are several types of financing that can help make buying a factory-built home more affordable. Read on for a closer look at the process of buying — and financing — a mobile, manufactured, or modular home.

What is the Average Cost of a Mobile Home?

According to the Census Bureau’s February 2022 Manufactured Housing Survey, the average price of a new manufactured home is $128,100.

More specifically, the average price for a single-wide mobile home is $89,200 and average for a double-wide mobile home is $160,400.

However, mobile home prices can vary significantly by region. The highest prices tend to be in the Northeast, where the average cost of a new mobile home is $107,000 for a single-wide and $167,800 for a double-wide.

The lowest prices are typically in the South, where the average price for a single-wide is $88,200 and average cost of a double-wide is $157,900.

In the West, a single-wide mobile home averages $92,800 and a double-wide averages $170,000, while in the Midwest, a single-wide mobile home averages $85,300 and a double-wide averages $158,800.

Recommended: How to Budget for Buying A House

Differences Between a Mobile Home, Modular Home, and Manufactured Home

The terms mobile home, manufactured home, and modular home are often used interchangeably. While all three refer to homes built in a factory rather than on-site, there are some differences between them. Below, we break it down.

Mobile Home

A mobile home is a prefabricated home built on a permanent trailer chassis that was constructed prior to June 15, 1976. That is when the U.S. The Department of Housing and Urban Development (HUD) enacted the National Manufactured Housing Construction and Safety Standards Act. After that date, new safety standards went into effect, which led to a new designation for these homes.

Manufactured Home

Like a mobile home, a manufactured home is built almost exclusively in a factory rather than on-site. However, these homes were built after June 15, 1976, when HUD put new safety standards into effect for mobile homes and changed the name of these structures from “mobile” homes to “manufactured” homes.

Another difference between mobile and manufactured homes is that manufactured homes typically are not moved after assembly. That said, it is possible to move a manufactured home if it has a pier and beam foundation. Manufactured homes need to not only meet HUD standards but also local building standards for the communities where they will be located.

Recommended: How Much Does It Cost to Build a Manufactured Home?

Modular Homes

Like mobile and manufactured homes, modular homes are built in a factory and shipped to the land where they will be set up. However, modular homes are often delivered in two or more modules (hence the name) that are then put together on-site by a contractor.

Modular homes are not designed to be relocated and are placed on a permanent foundation. Once put together, these homes have a lot in common with on-site built homes. They may have a basement and/or crawlspace, come in a variety of layouts, and can be one or two stories.

Like manufactured homes, modular homes must adhere to local building codes.

💡 Quick Tip: Buying a home shouldn’t be aggravating. Online mortgage loan forms can make applying quick and simple.

Things To Consider When Buying a Mobile Home

To find the best mobile home for your needs, here are some things to keep in mind.

Location

As with any home purchase, location is key. You can install your mobile home on land you already own, or purchase land for your mobile home. In either case, you’ll want to make sure that local zoning regulations allow for the installation of mobile homes and that the local utilities are able to connect a mobile home.

Another location option is to rent a plot of land in a mobile home community. If you find a community you like, it’s a good idea to find out what their restrictions are for home size and features before you buy a mobile home.

Size

Mobile homes are usually classified by their width. A single-wide is slightly under 15 feet wide and around 70 feet long. A double-wide mobile home is usually the same length but double the width — around 30 feet wide.

Due to their long, narrow shape, single-wide homes have fewer floorplan options and can work best for individuals or couples. Double-wide homes offer more space, as well as design options, and can be ideal for larger families.

Keep in mind that larger homes will, of course, be more expensive and also require a larger lot.

New vs Used

These days, you find new manufactured homes with all kinds of bells and whistles, including vaulted ceilings, walk-in closets, and luxurious bathrooms. If you’re looking to save money, however, you might consider going with a used mobile home. Just keep in mind that a used home may show signs of wear and tear (depending on how well it was maintained) and that some mobile home sites don’t allow homes made before a certain date.

Financing a Mobile Home

Once you’ve decided on the type and size of mobile home you want to buy, it’s time to figure out how you are going to pay for it. While it can be harder to find a loan for a mobile home than a traditional home, there are still a number of options. Here are some to consider.

Fannie Mae

While not all lenders finance manufactured homes, some may offer Fannie Mae’s MH Advantage program. These loans come with terms of 30 years, competitive rates, and down payments as low as 3%.

However, they also come with strict qualification criteria: The manufactured home must be at least 12 feet wide, have a minimum of 600 square feet, and can’t be on leased land. The home also needs to have a driveway and a sidewalk that connects the driveway, carport, or detached garage.

Freddie Mac

Another option for manufactured home financing is the Freddie Mac Home Possible mortgage program. This program offers 15-, 20- and 30-year fixed-rate loans, as well as adjustable-rate mortgages. Like Fannie Mae, these loans typically come with low rates and down payments as low as 3%. Freddie Mac loans also have strict criteria for qualification: The home must be considered real property, have at least 400 square feet of living space, and be built on a permanent chassis.

FHA

The Federal Housing Administration (FHA), which offers loans for traditional homes with flexible credit and down payment requirements, also offers manufactured home loans called Title I and Title II loans.

You can use a Title I loan to buy a manufactured home (but not the land it sits on), provided that the property is your primary residence, is connected to utilities, and meets FHA guidelines. These loans typically come with terms up to 20 years and relatively low loan amounts.

Title II loans, by contrast, can be used to purchase both a manufactured home and the land it sits on together. However, the home must count as real property and have been built after 1976.

US Department of Veterans Affairs (VA)

If you’re a member of the military community, you may be able to qualify for a loan insured by the Department of Veterans Affairs (VA) to purchase a mobile or manufactured home. To qualify for a VA loan for a manufactured home, your home must be on a permanent foundation, meet HUD guidelines, and must be purchased with the land underneath it. These loans often offer 100% financing with no money down; terms can range from 20 to 25 years.

💡 Quick Tip: You never know when you might need funds for an unexpected repair or other big bill. So apply for a HELOC (a home equity line of credit) brokered bySoFi today: You’ll help ensure the money will be there when you need it, and at lower interest rates than with most credit cards.

Chattel Loans

A chattel loan is a loan designed to purchase different types of expensive personal property, such as cars, boats, and mobile homes. You don’t have to own the land your home will sit on to get a chattel loan, so this can be a good option if you plan to rent a space in a mobile home community. Some lenders also offer chattel loans that are insured by the FHA, VA, and the Rural Housing Service (RHS) through the U.S. Department of Agriculture.

Chattel loans typically have higher rates and shorter terms than traditional mortgages. Like a traditional mortgage, however, these loans hold the property being financed as collateral for the loan. That means that if you run into trouble making payments, the lender can seize and re-sell the mobile home.

Personal Loans

Since mobile homes generally cost far less than traditional homes, you may be able to finance your purchase through a personal loan.

Personal loans are typically unsecured loans with a fixed interest rate that can be used for virtually any purpose (including the purchase of a mobile home). These loans don’t have restrictions on how your mobile home is built, so you can likely qualify even if it’s fully movable and not attached to a permanent foundation. Also, personal loans don’t put your home at risk, and the application process and time to funding tends to be shorter than other types of mobile home loans. However, interest rates may be higher.

While some lenders offer maximum personal loans of $40,000 to $50,000, others will let you borrow $100,000 or more. If you can find a larger personal loan, it may be enough to finance a mobile, manufactured, or modular home.

Recommended: How Much Is a Down Payment on a House?

Getting Approved for a Personal Loan

If you’re thinking about applying for a mobile home loan, here are some steps that can help streamline the process.

1. Check Your Credit Reports

Whenever you apply for any type of financing, a lender will likely look at your credit history to help them determine how much they will lend to you and at what rate (or if they will lend to you at all). It’s wise to look at your three credit reports, see where you stand, and make sure there aren’t any mistakes or inaccuracies that could negatively affect your credit. You can get free copies of your credit reports from the three consumer bureaus — Equifax®, Experian®, and TransUnion® — at AnnualCreditReport.com.

2. Determine Whether You’re Buying Land and a Mobile Home

This will determine how much money you need to borrow, as well as what your financing options are. Some lenders will only offer mobile home financing if the home will be permanently set up on land that you own.

3. Save For a Down Payment

While it’s not always required, you may also want to think about saving for a down payment on your manufactured or mobile home.

4. Find the Right Lender

Interest rates can vary from one lender to the next, so it can definitely pay to shop around and compare offerings from banks, credit unions, and online lenders. Some lenders will allow you to “prequalify” for a loan with a soft credit check (which doesn’t impact your credit score). This will allow you to get an idea of the loan amount and rate you may be able to qualify for before you officially apply.

The Takeaway

While mobile and manufactured homes are typically more affordable than a traditional home, you may still need financing to cover the cost of the purchase. You may be able to get a loan from the same sources as traditional mortgages (such as FHA and VA loans). Other options include specialized manufactured home loans through Fannie Mae and Freddie Mac, chattel loans, and personal loans.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

SoFi Mortgages: simple, smart, and so affordable.

FAQ

Can you get a personal loan for a mobile home?

Yes, a personal loan can be used to buy a mobile, manufactured, or modular home. Applicants will need to meet qualification requirements of the lender they’re working with.

What is the maximum personal loan amount for a mobile home?

The maximum loan amount is dependent on the lender. Many have maximum loan amounts of $40,000 and $50,000 but some will offer up to $100,000. The amount you can borrow will also depend on your income, credit score, and other factors.

Where can I get a personal loan to buy a mobile home?

Traditional banks, credit unions, and online lenders may offer personal loans to buy a mobile or manufactured home.

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SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.

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 requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

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

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

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

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A 401(k) loan allows you to borrow money from your retirement savings and pay it back to yourself over time, with interest. While this type of loan can provide quick access to cash at a relatively low cost, it comes with some downsides. Read on to learn how 401(k) loans work, when it may be appropriate to borrow from your 401(k), and when you might want to consider an alternative source of funding.

What Is a 401(k) Loan & How Does It Work?

A 401(k) loan is a provision that allows participants in a 401(k) plan to borrow money from their own retirement savings. Here are some key points to understand about 401(k) loans.

Limits on How Much You Can Borrow

The Internal Revenue Service (IRS) sets limits on the maximum amount that can be borrowed from a 401(k) plan. Typically, you can borrow up to 50% of your account balance or $50,000, whichever is less, within a 12-month period.

Spousal Permission

Some plans require borrowers to get the signed consent of their spouse before a 401(k) loan can be approved.

You Repay the Loan With Interest

Unlike a withdrawal, a 401(k) loan requires repayment. Typically, you repay the loan (plus interest) via regular payroll deductions, over a specified period, usually five years. These payments go into your own 401(k) account.

Should You Borrow from Your 401(k)?

It depends. In some cases, getting a 401(k) can make sense, while in others, it may not. Here’s a closer look.

When to Consider a 401(k) Loan

•  In an emergency If you’re facing a genuine financial emergency, such as medical expenses or imminent foreclosure, a 401(k) loan may provide a timely solution. It can help you address immediate needs without relying on more expensive forms of borrowing.

•  You have expensive debt If you have high-interest credit card debt, borrowing from your 401(k) at a lower interest rate can potentially save you money and help you pay off your debt more efficiently.

When to Avoid a 401(k) Loan

•  You want to preserve your long-term financial health Depending on the plan, you may not be able to contribute to your 401(k) for the duration of your loan. This can take away from your future financial security (you may also miss out on employee matches). In addition, money removed from your 401(k) will not be able to grow and will not benefit from the effects of compound interest.

•  You may change jobs in the next several years If you anticipate leaving your current employer in the near future, taking a 401(k) loan can have adverse consequences. Unpaid loan balances may become due upon separation, leading to potential tax implications and penalties.

How Is a 401(k) Loan Different From an Early Withdrawal?

When you withdraw money from your 401(k), these distributions typically count as taxable income. And, if you’re under the age of 59½, you typically also have to pay a 10% penalty on the amount withdrawn.

You may be able to avoid a withdrawal penalty, if you have a heavy and immediate financial need, such as:

•  Medical care expenses for you, your spouse, or children

•  Costs directly related to the purchase of your principal residence (excluding mortgage payments).

•  College tuition and related educational fees for the next 12 months for you, your spouse, or children.

•  Payments necessary to prevent eviction from your home or foreclosure

•  Funeral expenses

•  Certain expenses to repair damage to your principal residence

While the above scenarios can help you avoid a penalty, income taxes will still be due on the withdrawal. Also keep in mind that an early withdrawal involves permanently taking funds out of your retirement account, depleting your nest egg.

With a 401(k) loan, on the other hand, you borrow money from your retirement account and are obligated to repay it over a specified period. The loan, plus interest, is returned to your 401(k) account. During the term of the loan, however, the money you borrow won’t enjoy any growth.

Recommended: Can I Use My 401(k) to Buy a House?

Pros and Cons of Borrowing From Your 401(k)

Given the potential long-term cost of borrowing money from a bank — or taking out a high-interest payday loan or credit card advance — borrowing from your 401(k) can offer some real advantages. Just be sure to weigh the pros against the cons.

Pros

•  Efficiency You can often obtain the funds you need more quickly when you borrow from your 401(k) versus other types of loans.

•  No credit check There is no credit check or other underwriting process to qualify you as a borrower because you’re withdrawing your own money. Also, the loan is not listed on your credit report, so your credit won’t take a hit if you default.

•  Low fees Typically, the cost to borrow money from your 401(k) is limited to a small loan origination fee. There are no early repayment penalties if you pay off the loan early.

•  You pay interest to yourself With a 401(k) loan, you repay yourself, so interest is not lost to a lender.

Cons

•  Borrowing limits Typically, you are only able to borrow up to 50% of your vested account balance or $50,000 — whichever is less.

•  Loss of growth When you borrow from your 401(k), you specify the investment account(s) from which you want to borrow money, and those investments are liquidated for the duration of the loan. Therefore, you lose any positive earnings that would have been produced by those investments for the duration of the loan.

•  Default penalties If you don’t or can’t repay the money you borrowed on time, the remaining balance would be treated as a 401(k) disbursement under IRS rules. This means you’ll owe taxes on the balance and, if you’re younger than 59 1 ⁄ 2, you will likely also have to pay a 10% penalty.

•  Leaving your job If you leave your current job, you may have to repay your loan in full in a very short time frame. If you’re unable to do that, you will face the default penalties outlined above.

Alternatives to Borrowing From Your 401(k)

Because withdrawing or borrowing from your 401(k) comes with some drawbacks, here’s a look at some other ways to access cash for a large or emergency expense.

Emergency fund Establishing and maintaining an emergency fund (ideally, with at least three to six months’ worth of living expenses) can provide a financial safety net for unexpected expenses. Having a dedicated fund can reduce the need to tap into your retirement savings.

Home equity loans or lines of credit If you own a home, leveraging the equity through a home equity loan or line of credit can provide a cost-effective method of accessing extra cash. Just keep in mind that these loans are secured by your home — should you run into trouble repaying the loan, you could potentially lose your home.

Negotiating with creditors In cases of financial hardship, it can be worth reaching out to your creditors and explaining your situation. They might be willing to reduce your interest rates, offer a payment plan, or find another way to make your debt more manageable.

Personal Loans Personal loans are available from online lenders, local banks and credit unions and can be used for virtually any purpose. These loans are typically unsecured (meaning no collateral is required) and come with fixed interest rates and set terms. Depending on your lender, you may be able to get funding within a day or so.

The Takeaway

Borrowing from your 401(k) can provide short-term financial relief but there are some downsides to consider, such as borrowing limits, loss of growth, and penalties for defaulting. It’s a good idea to carefully weigh the pros and cons before you take out a 401(k) loan. You may also want to consider alternatives, such as using non-retirement savings, taking out a home equity loan or line of credit, or getting a personal loan.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

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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.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

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So, you’ve decided to move. Be it for a new job, a fresh start, or just for an adventure in an exciting new locale, moving can be a great way to kick off change in your life.

But before you start assembling boxes, folding clothes, and bubble wrapping your most prized possessions, there are a few key steps — some financial and some practical — you might want to take to ensure a seamless transition. Here’s a moving checklist that can help you get from your old home to your new place with relative ease.

3 Months Before the Move

Pick a Date and Make a Moving Budget

Pick a Day to Move

Assuming your new place is ready to go and you’ve already discussed the move with your current landlord (or have sold your current home), a good first step is to decide on a moving day.

The least expensive times to move are typically during the week. Moving companies will often offer better rates on a Monday, Tuesday, Wednesday, or Thursday because they aren’t typically as busy as on weekends.

You might also want to try to schedule your move in the morning. This is helpful during the summer, since temperatures aren’t as hot. Also, if you aren’t moving far, an early move will give you a good portion of the day to start getting settled in your new home.

Choose a Moving Company

Once you’ve picked the day, it’s time to pick the mover. You might start your search by asking people you know who have recently moved for recommendations. You can also check out the reviews online and send out a few quote requests to local movers. It can be a good idea to interview and get estimates from at least three movers before making a choice.

Create a Budget

Moving can be costly, and movers may be one of your biggest expenses. The average per-hour cost for a local move is $25 to $50 per mover, per hour. So if you use a two-person team for four hours, it can run at least $200 to $400, just for labor. You may also have to pay for transportation fees, materials, and gas.

For a long-distance move, costs go up considerably. You may need to factor gas, tolls, and lodging if the trip is more than one day, along with additional fees for drivers. All told, a long-distance move can run anywhere from $600 to $10,000 (or more), depending on the moving company you choose, the distance, and the size and amount of your belongings.

When you create your moving budget, you’ll want to factor in other moving costs, which may include:

•  Any penalties you might incur for leaving a lease early

•  Ending a phone, cable, or internet package early

•  Any and all repairs you need to make for your new home

•  Transportation cost to get to your new place

•  Any additional items you need to buy for your new place

Recommended: Things to Budget for After Buying a Home

Inform the Important People in Your Life

Now might be the time to share the news of your move. Your friends and family may already know, but don’t forget to tell other important people about your departure schedule, such as your children’s school and your employer. That way they have plenty of time to make any necessary arrangements.

You may also want to contact a few government agencies. For example, the U.S. Postal Service recommends setting up mail forwarding about two weeks in advance of a move. The service may be in place in as few as three days, but it’s smart to have some wiggle room.

If you’re moving to a new state, you may also want to set up an appointment at your new state’s department of motor vehicles, as you may be required to get a new driver’s license or register your vehicle in that state. And, if you’re moving during election season, reach out to your new area’s voter registration office to ensure you’re all set up to cast your ballot.

1 Month Before the Move

Evaluate Your Belongings and Declutter

Walkthrough

You might want to do a walkthrough of your current home and look at each and every item you own. Then grab two sticky note pads with different colors, one to represent the things you want to keep and one to represent the things that must go. Every single item should get a sticky note.

Start Selling

Instead of simply throwing away the things you no longer want, you could try to sell them online. After all, your trash could certainly be another person’s treasure. And this way you could have a few dollars in your pocket to spend on buying new things for your new home.

Donate Unwanted, but Still Usable, Items

If you’d prefer to donate some or all of your gently used but no-longer-needed possessions, you may want to reach out to The Salvation Army, Goodwill, Habitat for Humanity, a local thrift store, or a nearby homeless shelter to arrange for a pickup or delivery.

Recommended: 23 Easy Ideas to Pay It Forward

Call Your Cable, Internet, and Utility Providers

Now might be a good time to call your current cable, internet, and utility providers to let them know when you will be cutting off service. You’ll also want to reach out to providers that service your new home to set up services. That way, you’ll have electricity, WiFi, and everything you need up and running as soon as you get there.

Cancel Other Subscription Services

If you belong to a gym, community supported agriculture (CSA), or any other local group or subscription service, you’ll want to be sure to cancel your membership so you don’t continue to get charged after you move.

Three Weeks to One Week Before the Move

Collect Boxes and Start Packing

Collect Boxes

As the moving date gets closer, it’s time to acquire boxes. You can buy them or, to save money, start hunting down free boxes. Good sources include local restaurants, liquor stores, coffee shops, and supermarkets. Simply call or stop in and ask what days they typically get deliveries and if you can come to take the used boxes off their hands. Then, over the week or so, stop in and collect as many boxes as you can.

Buy the Moving Supplies You Need

You’ll also need to pick up some other items for packing, including heavy-duty packing tape, a marker for labeling things, and bubble wrap for fragile items. If you’re not hiring a moving company, you might consider renting a dolly, which can make moving heavy items much easier, plus furniture pads to protect your belongings from scratches and dings. Sheets and towels can also be used to protect furniture and as padding inside of boxes.

Start Packing

At this point, it’s probably safe to start packing the things you aren’t currently using — out of season clothes, most of your dishes, extra blankets, towels, framed photos, and decorations. You’ll want to leave out the essentials so you’re not looking through boxes to find things you use on a daily basis.

Recommended: How to Move Across the Country

1 Week Before the Move

Tie Up Any Loose Ends

Finalize Important Details

By now, you’ve likely already canceled your local services, subscriptions and memberships, but there will likely still be a few loose ends to tie up. Think about how you can make the transition into your new life as seamless as possible. For example, do you need to switch banks? If you have a pet, you may want to select a vet in your new neighborhood in case your pet needs care soon after you move.

Confirm Bookings

You’ll have a lot of things to do before moving, but it’s important to take some time to double check all of your bookings. Confirm when your movers are coming, what time your flights are booked (if applicable), and that you’ve arranged for your new utilities to turn on. There are a lot of moving parts that come with a move, so it’s easy to get booking details mixed up or to let things fall through the cracks.

1 Day Before the Move

Pack Your Final Belongings and Say Goodbye

Pack Up

Pack up any of the remaining items you’ve left out for day-to-day living and make sure all your boxes and suitcases are ready to go for the move.

Create a Folder of Important Documents

Have a folder ready for the move that includes your old lease (if you’re renting), along with the new signed lease, the contract for the movers, and all receipts from the move.

Say Goodbye — Your Way

Consider ordering your favorite local takeout, having friends over for a farewell drink, and giving thanks to everything this home has provided for you. It deserves it.

Move-In Day Checklist

Embrace a Blank Slate

Make Sure Everything Arrived

On move-in day, you’ll want to focus on finalizing your move. There will be plenty of time later to rearrange furniture and to organize your new walk-in closet. Instead, you may want to concentrate on making sure all of your belongings made it from your old home to your new one, so you can start fresh tomorrow without making a trip back to grab that last box you forgot.

Clean Up

As tempting as it can be to start unpacking right away, this can be a great time to give your new home a deep clean. Once you unpack, it won’t be so easy to clean the inside of every cabinet and to vacuum every inch of carpet. This may not be one of the most fun things to do when moving, but it can be a good way to make your new house more homey.

Recommended: 32 Inexpensive Ways to Refresh Your Home Room by Room

Unpacking Checklist

Unpack and Get To Know Your New Home

Unpack

Now that the hustle and bustle of the move is over, you can focus on unpacking and taking your time to find the right spots for all of your belongings. Unpacking in the reverse order of how you packed allows you to access your most-needed belongings first.

Think Ahead

While you’re unpacking, you’ll get a lot more familiar with your new home and all of its needs. Keep a pen and paper at hand so you can create a post-moving to-do list. Take note of any repairs you want to make now and create a maintenance checklist you can refer back to in the future.

The Takeaway

Moving can be stressful, but you avoid ever feeling completely overwhelmed by making a moving checklist well ahead of your move date, then tackling each project one at a time.

Moving can also be costly, so you may also want to make a plan for how you’ll pay for your move well in advance. This gives you time to save up what you’ll need or, if necessary, explore financing options. You may be able to get an unsecured personal loan to cover the cost of a move. Sometimes referred to a moving or relocation loan, this type of financing typically comes with fixed rates and set repayment terms, and rates tend to be much lower than credit cards.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

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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.

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.

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A bachelor’s degree is an undergraduate degree that usually requires you to take 120 credit hours of courses, typically around 40 classes. There are several types of bachelor’s degrees, including Bachelor of Arts, Bachelor of Science, and Bachelor of Fine Arts degrees. When you pursue a bachelor’s degree, you can major in a wide variety of focus areas, including arts, sciences, and humanities.

You may consider a second bachelor’s degree due to a change in career (such as switching from teaching to engineering — the number of classes you have to take for a master’s may encourage you to get a second bachelor’s degree instead). Taking advantage of career opportunities, adapting to job changes, or getting credit for specific skills may also be reasons you dive in again.

But can you get financial aid for a second bachelor’s degree?

Yes, you can! Read on to learn more about how to get financial aid for a second bachelor’s degree and the type of financial aid you might want to pursue for your second go-round.

Is It Possible to Get Financial Aid for a Second Bachelor’s Degree?

Yes, it’s possible to receive financial aid for a second bachelor’s degree, which can include federal student aid like federal grants, work-study, and federal student loans. We’ll detail the definitions of these types of federal student aid below when we explain how adult learners pay for college.

It’s important to note that you will be limited to a certain amount of financial aid in certain situations. For example, the aggregate federal student loan limit for dependent students (those claimed by their parent(s) on their parents’ taxes) is $31,000 and no more than $23,000 can be in Subsidized Student Loans.

Independent students (students who are at least 24 years old, married, veterans, members of the armed forces, who have their own legal dependents, who are homeless, and/or meet other qualifications) cannot borrow more than $57,500. No more than $23,000 of this amount may be in Subsidized Loans. In other words, if you’ve already borrowed the maximum amount for your first undergraduate degree, you could not borrow any more.

Certain grants also impose limits on what you can receive for a second bachelor’s degree.

Recommended: Can You Negotiate Financial Aid?

Can a Student Receive a Pell Grant for a Second College Degree?

A Pell Grant is a type of need-based federal grant. Grants are a type of aid that you don’t have to repay.

You cannot receive a Pell Grant if you’ve already received an undergraduate degree.

In some cases, students enrolled in a post-baccalaureate teaching program may be eligible to receive the Pell Grant. However, there are more stipulations — you cannot receive an unlimited amount of Federal Pell Grant funds, according to federal law. The Federal Pell Grant limit you can receive over your lifetime — Federal Pell Grant Lifetime Eligibility Used (LEU) — is limited to six years.

During a single award year, you can receive up to 100% of a scheduled Pell Grant Award, though it is possible to receive up to 150% of your scheduled award. For example, you may take classes during the fall, spring, and summer and therefore receive more than the scheduled 100%. However, you can receive the Pell Grant for no more than 12 terms, or about six years, because the six-year percentage equals 600%.

Using Funding From Financial Aid for Second Bachelor’s Degree

Financial aid for a second bachelor’s degree can include work-study, scholarships, federal student loans, and student aid for military spouses. You can think of your financial aid award as a jigsaw puzzle — these individual pieces fit together to form your award. Let’s take a look at the types of aid you might receive.

Work-Study

When you file the Free Application for Federal Student Aid (FAFSA®), you may receive a work-study award — yes, even if you’re working toward earning a second bachelor’s degree. As long as you apply for part-time work-study jobs for a second degree on campus (sometimes off-campus jobs are available) you may work up to the amount you receive on your work-study award. The amount you can make depends on factors including your level of need and the funds your school has available for work-study.

It’s important to remember that work-study is not “automatic money” — you must apply for a job and work toward the number of hours shown on your award.

Scholarships

Scholarships have a diverse eligibility requirements and some may be open to learners seeking a second bachelor’s degree. Scholarships may come from a wide variety of sources, including the institution you apply to. It’s a good idea to ask the financial aid office at each school for more information about the types of scholarships available to you because each college and university has various requirements for earning scholarships. For example, some may be based on merit and others may be based on financial need.

Other organizations, such as clubs, foundations, charities, businesses, local and state governments, and individual philanthropists, may also offer scholarships.

Recommended: Scholarship Search Tool

Federal Student Loans

You may qualify for federal student loans as long as you are under the aggregate federal student loan limit for dependent students of $31,000, with no more than $23,000 in subsidized student loans. Independent students are limited to $57,500 and cannot go over more than $23,000 in subsidized loans.

Undergraduate students can take advantage of Direct Subsidized Student Loans or Direct Unsubsidized Loans, which must be repaid with interest. Subsidized student loans are need-based federal student loans in which the government pays the interest while you’re in school (though you’ll pay the interest after school). Unsubsidized student loans are non-need-based federal student loans in which the government does not pay the interest while you are in school.

For loans disbursed during the 2023-2024 academic year, undergraduate students can take advantage of both Direct Subsidized or Unsubsidized Loans for an interest rate of 5.50%.

Recommended: Types of Federal Student Loans

Student Aid for Military Spouses

If you are the spouse of a military member, you may be able to have your military member transfer Post-9/11 GI Bill benefits to you based on your loved one’s military service, particularly if they are on active duty or in the Selected Reserve.

Your loved one must have completed at least six years of service, agreed to add four more years of service, and must also be enrolled in the Defense Enrollment Eligibility Reporting System (DEERS). Your active duty military member must use a Transfer of Entitlement (TOE) before you can apply for benefits.

What Do I Need to Do to Use Financial Aid for a Second Bachelor’s?

You can file the FAFSA for second bachelor’s degree financial aid and accept the aid award that comes from the school of your choice. Let’s go over each of these steps. Don’t forget to check out SoFi’s FAFSA guide.

Applying for FAFSA

You must file the Free Application for Federal Student Aid, commonly known as the FAFSA, to qualify for federal student aid. The FAFSA form online asks you to report on your personal financial information, including tax information and your savings and checking account balances. The FAFSA information also helps colleges, universities, and private financial aid providers decide how much state and institutional aid you may receive.

Once you file the FAFSA, you’ll get a Student Aid Report (SAR), which summarizes the information you’ve entered on the FAFSA. The SAR reports a variety of information including:

•   Your Student Aid Index (SAI), a number that determines your eligibility for student aid

•   Your eligibility for federal student loans

•   Your eligibility for Federal Pell Grants

•   Whether you’ve been selected for verification, which is a process that some students undergo to confirm that all the information is accurate on the FAFSA. Students may get selected randomly for verification and the school may also select them for verification. They may also get selected if the Central Processing System found problems with the FAFSA. The financial aid offices at the schools on your list can help you through the verification process.

Once you complete everything, you’ll receive a financial aid award from the schools on your shortlist.

Accepting Financial Aid

After receiving your financial aid award, it’s important to go through your full award to make sure you understand it, line by line. If you don’t understand a portion of your award, call the financial aid office of the school that sent it to you. They should be able to explain your full award to you in detail.

The school will generally explain how to accept your financial aid award in the email or packet that you receive. You can go through each type of loan, grant, and scholarship and accept or decline the awards you want. You can also accept the entire award. The financial aid office will let you know about your next steps after your award acceptance and after you pay your enrollment deposit.

Recommended: Ca$h Course: A Student’s Guide to Money

Ways to Pay for a Second Bachelor’s Degree

You can pay for your education using financial aid for a second bachelor’s degree using the types of aid described above (through grants, scholarships, and federal student loans). You may also want to pay for college using some money you’ve saved or that you are currently earning through a part- or full-time job.

Learners can also take advantage of private student loans, which are student loans that don’t come from the federal government. They typically offer higher interest rates than federal student loans but are a great way to fill in the gaps that other financial aid for second bachelor’s doesn’t cover.

Before you choose a private student loan lender, ask questions about interest rates, terms, and repayment options. Note that you’ll lose the option to tap into federal student loan benefits like income-driven repayment plans and loan forgiveness options if you go the private student loan route.

The Takeaway

If you’re wondering, “Can I get financial aid for a second bachelor’s degree?” you now know that the answer is a resounding “Yes!”

But will financial aid pay for a second bachelor’s degree? The answer is that federal financial aid and scholarships may not fully cover all your education expenses, which is why you might consider looking into private student loans.

Let SoFi help you fill the gap. For example, you may want to lean on a combination of scholarships, federal student loans, the money you’ve saved, and private loans. If you borrow too much, you might even be eligible for refund checks from financial aid.

SoFi offers zero origination fees and no prepayment penalties, and you can choose between a fixed or variable rate loan.

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Photo credit: iStock/millann

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

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

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

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

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