Financial Topics Archives

Dec

2025

A man with short dark hair and glasses sits at a desk typing on a laptop in a sunny, modern workplace.

Income Tax: What Is It and How Does It Work?

By Marcy Lovitch | Financial Independence, money, Terminology | Comments Off

Table of Contents

What Are Income Taxes?
How Does Income Tax Work?
Brief History of How Income Taxes Came to Be
What Are the Different Types of Income Taxes?
How Do I Know How Much I Owe in Income Taxes?
Ways to Lower Your Taxable Income
Tips for Filing Income Taxes Correctly
FAQ

By April 15 of each year, Americans typically must file their tax returns with the Internal Revenue Service (IRS). As the name suggests, income tax requires individuals and businesses to pay a percentage of their earnings or profits from the previous calendar year to the government.

Figuring out the right amount to pay can take some time. When you or your tax preparer fills out your tax forms, you’ll find out if you’ve overpaid your taxes, meaning you’re entitled to a refund, or if you’ve underpaid, which means you’ll owe money to the government.

There are different types of income tax, but the most common one people have to file is federal, which is done through the IRS, a bureau within the U.S. Treasury Department. Depending on where you live, you may also have to pay state or local income taxes.

Here are key things to know about income tax, including how it works, how to determine what you owe, and possible ways to reduce your taxable income and save on taxes.

Key Points

• Income tax is a mandatory payment to the government based on an individual’s or business’s annual earnings or profits.

• The U.S. tax system is progressive, meaning higher income generally results in a higher overall tax rate.

• The amount of income tax you based on your gross income, adjusted gross income, and deductions (either standard or itemized).

• You can potentially lower your taxable income by contributing to pre-tax accounts like a 401(k) or HSA.

• You typically need to file your income taxes by April 15 each year; extensions are available for filing but not for payment of taxes owed.

What Are Income Taxes?

Income taxes are taxes that are collected by the government on income (aka money) earned by individuals and businesses. This can include salaries, tips, commissions, bonuses, investment income, interest earned, and other sources. Income tax can be assessed by a federal, state, and/or local government. Some Americans may only pay federal taxes; others may be liable for taxes at a federal, state, and local level.

Once collected, taxes are typically used to fund a wide array of public services, programs, and government operations at the national and local level.

How Does Income Tax Work?

The amount of income tax you pay depends on how much money you’ve earned in the past year as well as your filing status (e.g., single, married filing jointly, etc.), along with other factors. First, a bit more about what counts as taxable money:

• Income that’s taxable includes your earnings from work, interest earned on savings accounts, and money made from investments or rental properties.

• Certain forms of income may not have to be reported on your tax return. Some examples of income that may be nontaxable include child support payments, financial gifts, alimony, and employer-provided health insurance.

The U.S. tax system is progressive, which means the greater your income, generally the higher your overall tax rate. The idea behind a progressive system is that people who earn more are typically able to pay more in taxes.

Currently, there are seven tax brackets, ranging from 10% to 37%. Each bracket corresponds to specific income thresholds and are adjusted each year for inflation.

Tax season revolves around filing income tax returns each spring. Some details:

• The typical deadline is April 15, though if that date falls on a weekend or holiday, the date will be moved to the next business day.

• Those who are self-employed may pay quarterly estimated taxes.

• You must file your federal income tax return with the IRS, by mail or electronically. In order to file, you must have all the necessary year-end income documents, including those from your employers and financial institutions.

• The IRS recommends taxpayers file electronically, since it can take six weeks or more to process a paper return. Electronic files move much more quickly through the system.

When you fill out your tax return and file it with the IRS, you’ll find out if you’ve underpaid and still owe any taxes or if you’ve paid too much and are entitled to a refund. Salaried workers must complete an IRS Form W-4 to help their employer withhold the correct amount of federal income tax from their paychecks. This form can be changed to help correct for too much or too little taxes withheld during the previous year.

Brief History of How Income Taxes Came to Be

Now that you know what income tax is, here’s a quick look at how it came into being in America. The first federal income tax came about in 1861 as a way to finance the Civil War effort. A year later, Congress passed the Internal Revenue Act which created the Bureau of Internal Revenue, which eventually evolved into today’s IRS. But income tax didn’t have substantial support after the Civil War and was repealed in 1872.

Federal income tax made a short comeback in 1894, but the next year it was ruled unconstitutional by the Supreme Court. This verdict was based on the grounds it was a direct tax and not apportioned among the states on the basis of population.

In 1909, the 16th amendment to the Constitution was introduced, which would give the government the power to collect taxes without allocating the burden among the states in line with population. It was passed by Congress then, but it still needed to be ratified by 36 states. Ratification of the 16th amendment finally happened in 1913, giving Congress the legal right to impose a federal income tax. This laid the foundation for the tax system as it’s known today.

What Are the Different Types of Income Taxes?

Income taxes are primarily categorized based on who pays them (individuals or corporations) and the source of the income, such as wages, investments, or business profits. Here are some common types of income tax:

• Individual or personal income tax. This type of tax is imposed on salaries, wages, investment earnings, or any other forms of taxable income a person or household earns. Thanks to deductions, tax credits, and exemptions, most people don’t end up paying taxes on all their income.

• Business or corporate income tax. This kind of tax is based on business profits, minus the costs involved in doing business. According to the IRS, all businesses except partnerships must file an annual income tax return.

• State and local income tax. Depending on where you live and work, you may have to pay state and local taxes. Currently, nine states (Alaska, Florida, Nevada, South Dakota, Texas, Tennessee, Washington, Wyoming, and New Hampshire) don’t have a state income tax. Some local governments impose a local income tax on people who live or work in a specific city, town, county, municipality, or school district. Both state and local taxes help pay for a wide range of services like roads, schools , and law enforcement. State and local taxes are generally much lower than federal income tax.

How Do I Know How Much I Owe in Income Taxes?

In order to figure out how much income tax you may owe, here are some steps:

• You’ll want to know your filing status which will determine which tax bracket you fall under. The five filing status choices are single, married filing jointly, married filing separately, head of household, and qualifying widow(er) with dependent child.

• Once you know how you’re going to file, you’ll need to gather up all your documents detailing your earned income, such as your W-2 and 1099 statements. When you have all of the information about how much money you earned, you can total it up, which amounts to your gross income.

• The next step in knowing how much you owe in taxes is to calculate your adjusted gross income (AGI). You can do this by taking your total gross income from the year and subtracting any “above the line” adjustments, as they’re known, that you are eligible for. A list of adjustments to income can be found on Schedule 1 of Form 1040. They include, up to certain limits, educator expenses, the deductible part of self-employment tax, and student loan interest payments

Once you’ve got your AGI number, you can then subtract any standard or itemized deductions to get your taxable income amount. Itemized deductions may include charitable donations, paid mortgage interest, property taxes, and unreimbursed medical and dental expenses. An alternative to itemized deductions is the standard deduction option. A standard deduction is a set dollar amount based on your filing status. The vast majority of Americans take the standard deduction when filing their federal income taxes. When you have your taxable income number, you can then pinpoint your tax bracket and determine your tax rate.

Ways to Lower Your Taxable Income

You may be able to reduce your taxable income by taking advantage of any pre-tax savings opportunities available to you. Consider these tips:

• Take advantage of employer-sponsored retirement plans. Contributions to a 401(k) for example, are made with pre-tax dollars, meaning they lower your current taxable income, and you pay taxes later when you withdraw the money in retirement, potentially at a lower tax rate

• Enroll in a health spending account (HSA) or flexible spending account (FSA) if your company offers them. A health savings account allows pretax contributions to be used for upcoming healthcare costs for employees with high-deductible health insurance plans. If your employer doesn’t offer one, you can open a HSA on your own, provided you meet the eligibility requirements.

With a flexible spending account, you set aside pre-tax dollars from your paycheck to pay for eligible out-of-pocket healthcare or dependent care expenses. This can help you save money on taxes while covering costs like copays, prescriptions, dental, and vision care.

• Figure out what tax deductions you can claim. To save on taxes, you can claim a variety of deductions that reduce your taxable income. You have two main options: take the standard deduction (a fixed amount based on your filing status) or itemize your deductions if your eligible expenses are greater than the standard amount.

• Check that your tax withholding is appropriate. If you find that you owe a significant amount in taxes come tax day, or that you’re due a large refund, you may need to adjust your W-4 form. While a refund may seem like good news, it essentially means you’re giving the government an interest-free loan throughout the year. It’s also a good idea to update your W-4 form if you have a major life change, such as the birth of a child, marriage, divorce, or a significant pay raise.

Recommended: 7 Steps to Prepare for Tax Season

Tips for Filing Income Taxes Correctly

Avoiding mistakes when filing your tax return can help prevent you from missing out on a bigger refund than you claimed or triggering a tax audit by the IRS.

Here are some suggestions on how to fill out your tax return when filing whether you’ve done it before or are doing your taxes for the first time:

• Gather all of your pertinent paperwork and make sure you’re not missing tax forms. You’ll need a W-2 form from each employer, other earning and interest statements, and receipts for any expenses you’re itemizing on your return. Any income and investment interest forms should be mailed or sent electronically to you in January. If you haven’t received them in the mail, you can typically find and download these documents online through your bank, mortgage provider, or payroll company. If you still haven’t received your tax statements or can’t find them online, call the necessary people to get your documents as soon as possible.

• When filling out your return, make sure your basic information is accurate, such as your name, Social Security number, and filing status. The IRS will also be double-checking your numbers against your tax statement documentation.

• Take care when disclosing your income. Report your financial information exactly as it’s reported to the IRS on forms such as your W-2 and 1099s.

• Sign your tax return. According to the IRS, an unsigned tax return is invalid. If you’re married and filing jointly, in most cases both spouses must sign the form. Filing electronically can help taxpayers avoid submitting an unsigned form by using a digital signature.

• Consider using a tax preparation software program or having a professional tax preparer do your return. Online software is often fairly straightforward if your situation is pretty simple. However, if your tax return is more involved and complicated, it may be worth it to hire a tax professional. An experienced tax preparer can help ensure your tax return will be filed correctly and on time.

• Try not to put off filing your taxes until the last minute or you run the risk of missing the tax filing deadline.

• You can file for a tax extension of six months, but know that any taxes owed are still due on time; it’s the return that can be filed later.

The Takeaway

Income taxes are a way for the government to collect revenue from citizens and businesses. Besides paying federal income taxes, you may need to also pay state and local taxes. There are ways you may be able to lower your taxable income, and doing so may result in paying less in taxes or getting a bigger refund. Knowing how to file correctly and on time can help maintain your financial well-being.

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FAQ

Can I lower my income taxes?

Yes, you may be able to lower your income taxes by reducing your taxable income. You can do this by taking advantage of pre-tax savings opportunities, such as contributing to an employer-sponsored retirement plan (like a 401(k)), or enrolling in a Health Savings Account (HSA) or Flexible Spending Account (FSA). You can also lower your taxable income by claiming deductions. This could be the standard deduction or, if your eligible expenses are high enough, by itemizing deductions like mortgage interest or charitable donations.

How can I determine how much income tax I’m required to pay?

To determine how much income tax you owe, you first need to establish your filing status (e.g., single, married filing jointly) and gather all income documents like W-2s and 1099s to calculate your gross income. Next, you calculate your adjusted gross income (AGI) by subtracting eligible “above the line” adjustments. Finally, subtract either the standard deduction or your itemized deductions from your AGI to find your taxable income. This taxable income amount determines your tax bracket and your resulting tax liability.

Does income tax improve your money management?

Yes, understanding income tax can significantly improve your money management. By learning how tax brackets and deductions work, you can make informed decisions about your withholding (using Form W-4) to ensure you are not giving the government an interest-free loan through a large refund. In addition, taking advantage of pre-tax savings, like 401(k) and HSA contributions, is a key money management strategy that directly lowers your taxable income, helping you save money and invest for the future.

Photo credit: iStock/Charday Penn

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SOBNK-Q425-058

Dec

2025

Two nurses standing in a hospital hallway in white scrubs review information on a tablet together and discuss it.

What Is the Average Nurse Salary?

By Janet Siroto | Building Your Career, Life & Career, student_loan | No Comments

Nursing can be a rewarding career in a couple of important ways. It involves caring for the health of others, which can be satisfying. A nursing degree can also mean job stability and a good paycheck. According to the Bureau of Labor Statistics, demand for nurses will increase at 5% per year, faster than the average career growth. And the average registered nurse salary was at a median of $93,600 per year in 2024. Compare that with the median US salary for the same period of $61,984, and you can see that nursing can be a lucrative career.

The average nursing salary will vary depending on the type of nursing you do. For instance, there’s the average nurse salary vs. the average registered nurse salary vs. the average nurse practitioner salary. Qualifications and other factors will determine how much you make as a nurse.

Read on to learn more about nursing salaries, the cost of getting a nursing degree, and ways to pay for it. This information can help you decide if nursing is the right career path for you, and, if so, which type of nursing you want to pursue.

Table of Contents

Average Salaries for Different Types of Nurses
Average Salaries and Location
How Much Does it Cost to Get a Nursing Degree?
Paying for Your Nursing Degree
Student Loan Forgiveness Options for Nurses
Repaying Student Loans after Nursing School
FAQ

Key Points

• The median registered nurse (RN) salary is $93,600 per year, well above the U.S. median salary of $61,984, with demand projected to grow 5% annually.

• Salaries differ by role: LVN/LPNs average $62,340, RNs $93,600, Clinical Nurse Specialists $94,945, and Nurse Practitioners $137,00.

• Nursing pay varies widely by location, with Washington and California among the highest, and Mississippi and Alabama among the lowest.

• Education costs range from $2,000 to $18,000 for LPN programs, and $57,000+ for advanced degrees, plus fees for supplies, licensing, and exams.

• Nurses may qualify for loan forgiveness programs like PSLF, NURSE Corps, or NHSC, or manage debt through repayment plans and refinancing.

Average Salaries for Different Types of Nurses

If you’re considering nursing as a career and wondering how much nurses make, it’s vital to know about the different types of nurses. Each has its own education and certification requirements.

• A licensed vocational nurse (LVN) or licensed practical nurse (LPN) is one of the lowest-paid jobs within the nursing field. Job responsibilities are typically similar for LVN and LPNs. California and Texas use the term LVN, while the rest of the country uses the designation LPN. These positions also have the lowest educational requirements.

While LVN/LPN roles don’t always require a college education, there are usually state-approved training certification programs. Most of these courses take aspiring LVN/LPNs one year to complete, and then they must pass the NCLEX-PN examination for state licensing. How much does a nurse make a year with this kind of credential? The average salary for LVN/LPNs as of 2024 was about $62,340 annually.

• Aspiring registered nurses (RN) typically need a bachelor’s or associate degree from an accredited program. There are also some accelerated programs available and some second degree programs for students who already have a bachelor’s degree in another field.

After successfully completing their chosen coursework, nursing students must then pass the NCLEX-RN exam in order to become a certified RN. In addition, RNs usually must obtain a state license after passing the NCLEX-RN exam.

To drill down on the details here, know that each state has its own licensing board. You may want to research the specific requirements in the state where you plan to practice. How much do RNs make? The average RN salary as of 2024, as noted above, was approximately $93,600 per year. (Below you will find state-by-stage nursing salaries, though not specifically for RNs.)

Next, consider the career of a Clinical Nurse Specialist (CNS). This type of nurse has gone a step beyond RN and pursued additional education. At a minimum, you must have a master of science in nursing (MSN) to become a CNS.

A CNS typically trains extensively in a specialty area, such as emergency medicine, oncology, or women’s health. In 2024, the average salary for a CNS was $94,945 annually and it may be well above $100,000 depending on location, which is higher than the RN salary, reflecting the additional education and skills.

• A Nurse Practitioner (NP) holds an advanced degree, but their responsibilities vary slightly when compared with a CNS. For example, in most states, a nurse practitioner is able to prescribe medication, while a CNS is not. The average nurse practitioner salary in 2024 was $137,000 annually.

Average Salaries and Location

Here’s another factor that can impact the average nurse’s salary: location. After all, wages and overall cost of living can vary dramatically depending on whether you live in, say, a small town or close to a pricey urban center.

Check this chart to see how average nurse salaries compare state by state. Note that these figures reflect LPN salaries, which are at the lower end of the spectrum, but they can give you an idea of how much nurses make by location. This could be good information to consider when deciding where to practice.

State	Average Annual Nurse Salary
Alabama	$50,760
Alaska	$77,850
Arizona	$72,840
Arkansas	$52,540
California	$79,090
Colorado	$68,570
Connecticut	$70,240
Delaware	$66,510
District of Columbia	$70,530
Florida	$60,320
Georgia	$58,090
Hawaii	$67,540
Idaho	$59,340
Illinois	$68,450
Indiana	$62,990
Iowa	$59,640
Kansas	$59,930
Kentucky	$57,410
Louisiana	$54,610
Maine	$72,600
Maryland	$70,700
Massachusetts	$76,400
Michigan	$65,430
Minnesota	$61,270
Mississippi	$49,960
Missouri	$58,900
Montana	$58,710
Nebraska	$60,240
Nevada	$71,460
New Hampshire	$73,850
New Jersey	$71,300
New Mexico	$56,690
New York	$66,380
North Carolina	$62,040
North Dakota	$60,110
Ohio	$60,600
Oklahoma	$55,270
Oregon	$78,160
Pennsylvania	$62,550
Rhode Island	$77,240
South Carolina	$58,430
South Dakota	$51,230
Tennessee	$53,490
Texas	$60,020
Utah	$61,390
Vermont	$68,580
Virginia	$63,380
Washington	$79,970
West Virginia	$52,540
Wisconsin	$61,680
Wyoming	$61,080

How Much Does it Cost to Get a Nursing Degree?

The cost of getting a nursing degree varies based on the type of nursing program you choose. Each of the nursing positions listed above requires different degrees and certification.

• The process to become an LVN/LPN generally costs between $2,000 and $18,000.

• Taking an RN two-year associate program can cost $6,000 to $25,000.

• An alternative is to become an RN through a four-year bachelor’s program. This process works similarly to most other bachelor’s degree programs and typically costs the same as a four-year college or university.

• In addition to having already been an RN, both CNS and NP careers require advanced degrees. Typically, a masters of science in nursing (MSN) is required for both positions, which can cost between $18,000 to $57,000 in total.

• Some choose to further their education, becoming a Doctor of Nursing Practice (DNP). These degrees can be expensive but also have the potential to increase a nurse’s salary. After a master’s degree, expect to pay around an additional $21,000 to $39,000, but your nursing salary is likely to rise, too.

There are usually costs beyond nursing school tuition. You’ll likely have to buy textbooks and supplies like a lab coat, scrubs, and a stethoscope. Many programs also charge additional lab fees each semester. Many schools will require nursing students to take out liability insurance and get some mandatory immunizations.

After graduating from your chosen program(s), you’ll also likely want to factor in the cost of licensing and exam fees as you enter the job market.

Paying for Your Nursing Degree

Becoming a nurse can be a pricey process, depending on the path you choose. But there are options available to help students pay for their nursing degree. The American Association of Colleges of Nursing has a database of scholarships for nursing schools. As you may know, scholarships don’t need to be repaid. This can make them an especially valuable resource in making ends meet as a nursing student.

In addition, federal aid, including grants, scholarships, work-study, and federal student loans could provide some relief. To apply, students must fill out the Free Application for Federal Student Aid (FAFSA®) each year.

Student Loan Forgiveness Options for Nurses

There are a number of student loan forgiveness programs available to nurses. Keep in mind that each typically has its own program requirements, so it’s helpful to review them closely to determine whether you qualify.

• Public Service Loan Forgiveness (PSLF) forgives certain federal Direct loans after 10 years of qualifying, on-time payments. This program is open to borrowers who work for a qualifying organization. You can find details online about qualifying for the PSLF program to see if you could benefit from it.

• The NURSE Corps Loan Repayment Program will repay a portion of a nurse’s eligible student loans when they work full time at a Critical Shortage Facility or as a faculty member at a qualifying nursing school. Those accepted by the program are eligible to have 85% of their outstanding loan balances forgiven over a two-year commitment.

• The National Health Service Corps Loan Repayment Program provides loan forgiveness to qualifying nurses who commit to working for two years in clinical practice at a National Health Service Corps site.

Repaying Student Loans after Nursing School

If you borrowed federal or private student loans to help you pay for nursing school, developing a repayment strategy can be valuable. Not only will it set you on a path to repaying your debt, it can teach you valuable budgeting skills as well.

If you don’t qualify for any of the available loan forgiveness options, federal student loans come with a few different student loan repayment plans so you can find the option that works best for your budget.

If you relied on private student loans to help you pay for your tuition at nursing school, you may want to review your repayment terms. Each lender will determine their own terms and conditions for the loans they lend.

As you develop a game plan to help you repay your student loans, one option to consider is student loan refinancing.

When you refinance student loans, you take out a new loan with new terms. This loan can then be used to repay your existing loans. If you borrowed multiple loans, that means you could have the option to consolidate them into one single monthly payment — potentially with a lower interest rate.

However, it’s important to keep in mind a couple of factors:

• You may pay more interest over the life of the loan if you refinance with a longer term.

• If you are considering refinancing federal student loans, know that they come with an array of benefits and protections that are forfeited if you refinance.

To see how refinancing could impact your student loan, you can take a look at this student loan refinancing calculator.

The Takeaway

Nursing can be a challenging but rewarding profession, and the average nurse salary of $93,600 could provide a well-paying career. There are different kinds of nursing degrees and positions, so it’s wise to do your research to understand what each one requires and which might best suit your needs. Also, financing your education as a nurse can also need research to understand the obligation and how you might fund it.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

Which U.S. state pays nurses the most?

The state that pays nurses the most is the state of Washington, where LPNs make an average of $79,970 a year. California isn’t far behind with an annual LPN salary of $79,090. Keep in mind that salaries for LPNs are at the lower end of the nursing salary spectrum. An RN in Washington state makes an average of $99,519 a year by comparison.

What type of nurse makes $100,000 a year?

A nurse practitioner (NP) can make well over $100,000 a year. For example, in 2024, the average NP made $137,000 annually. This type of nurse has an advanced degree, typically a master’s of science in nursing. These professionals provide many of the same services as doctors, including performing medical procedures and prescribing medication.

Can an RN make $200,000 a year?

Yes, it’s possible for an RN to make $200,000 a year, especially if they work in high-demand positions such as certified nurse anesthetists or travel nursing, or hold an administrative or leadership position.

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SOSLR-Q425-043”

Dec

2025

A college student with a backpack and headphones around his neck stands smiling as he holds a laptop in his hands.

What Is the Dean’s List? Typical Dean’s List Requirements & Benefits

By Josephine Nesbit | Going to College, Student Loans, student_loan | Comments Off

The dean’s list is a listing of undergraduate students recognized for outstanding academic achievement in a given semester, quarter, or year. Each college and university has different dean’s list requirements, but students who finish the term with a high grade point average (GPA) and are in the top percentile of their class for academic performance often earn a spot on the dean’s list.

Not only is having the dean’s list award on your transcript a remarkable personal achievement, but it could also make a big impact on grad school admissions and future employers.

Table of Contents

Dean’s List Meaning
Dean’s List Requirements
What GPA Is Needed to Make the Dean’s List?
What Is the Benefit of Being on the Dean’s List?
Are There Any Student Loan Benefits When Getting on the Dean’s List?
What Other Academic Awards Can You Earn in College?
Ways to Pay for College
FAQ

Key Points

• The dean’s list recognizes undergraduate students for outstanding academic achievement in a given semester, quarter, or year.

• Requirements vary by school but typically include a high GPA, top percentile ranking, full-time enrollment, and no incomplete or late grades.

• Benefits of making the dean’s list include personal achievement, prestige, public recognition, networking opportunities, and potential scholarships.

• Being on the dean’s list may enhance graduate school applications and job prospects, especially for students with consistent recognition.

• While federal student loans do not offer financial perks for dean’s list students, a high GPA may improve eligibility for merit-based scholarships and grants.

Dean’s List Meaning

The dean’s list is a scholarly award for undergraduate students who achieved high scholastic standing during the academic year. The award may be released after each semester, quarter, or academic year and is typically based on a student’s GPA. However, specific dean’s list requirements will vary by institution and can change each term.

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Dean’s List Requirements

Dean’s list requirements vary by college and can change each term, but there are typical conditions that a student must meet. To meet basic dean’s list requirements, students must:

• Meet the minimum GPA requirements set by the school.

• Be in the top percentile of their class for academic achievement.

• Be taking a minimum number of credit hours. Most schools require students to be enrolled full-time, but some schools may include part-time students in the dean’s list.

• Have zero incompletes, no-shows, or late grades.

What GPA Is Needed to Make the Dean’s List?

Dean’s List GPA requirements vary by university but generally students need to have a GPA of 3.5 or higher on a 4.0 scale and be taking a minimum of 12 credit hours.

In some cases, a school will give the award to the top percentile of students rather than everyone who earns a certain GPA. This means that the required GPA can change each semester based on the academic performance of the student body. Check with your college to determine the minimum GPA or other requirement to make the dean’s list.

What Is the Benefit of Being on the Dean’s List?

Earning a spot on the dean’s list is one of the highest levels of recognition for academic achievement. Students who earn the award can enjoy a variety of benefits that can continue throughout their educational career and beyond.

Personal Achievement

Making it onto the dean’s list requires academic commitment and dedication. Being on the dean’s list means you’ve ranked in the top percentile amongst your peers, which will be noted on your school record and should be seen as a great personal achievement.

Prestige

Having your name on the dean’s list, especially for multiple terms, is one way to help you stand out from the crowd. The dean’s list award is a testament to your academic success and has traditionally been looked upon favorably by the school’s administration as well as by other students.

Recognition

Some schools recognize students who made it onto the dean’s list by posting students’ names on the school website and sometimes local publications. Outstanding academic performance can also help you build relationships with your professors, who may be able to write letters of recommendation and references later on.

Special Events

Because your GPA is ranked among the top of your class, you might receive invitations to special events. These are typically networking events with top company executives. Networking can allow you to form connections with other people in your field of study and open the door to possible employment opportunities.

Attract Prospective Employers

Some colleges may include your dean’s list award on your school transcript, and you can also attract potential employers by mentioning this award on your resume. However, some recruiters don’t recommend adding this achievement to your resume if you were only on the dean’s list for one or two semesters or inconsistently.

Even if you don’t include the dean’s list on your resume, prospective employers may still consider your GPA when making hiring decisions. According to the National Association of Colleges and Employers’ Job Outlook 2025 Spring Update report, roughly 38% of employers screen by GPA when making interviewing and hiring decisions.

Scholarships

While being on the dean’s list doesn’t guarantee any financial aid, a high GPA could make you eligible for merit scholarships. Merit-based scholarships typically use your GPA, test scores, leadership capabilities, and other factors to determine your eligibility.

Are There Any Student Loan Benefits When Getting on the Dean’s List?

There usually aren’t any financial perks for getting on the dean’s list with federal student loans or most private lenders. Some private lenders may offer a reward for a certain GPA, but most lenders typically only consider your GPA if it’s too low.

Your GPA could affect your eligibility for other types of financial aid, like scholarships and grants, though. You’re required to make Satisfactory Academic Progress (SAP) to meet the basic eligibility criteria for certain types of financial aid. A higher GPA also makes it easier for you to receive more financial aid.

💡 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.

What Other Academic Awards Can You Earn in College?

The dean’s list isn’t the only academic award that you can earn in college. There are several other awards that are given to students in recognition of outstanding achievement and as a means to further encourage academic excellence. Here are a few academic awards for college students.

The Honors List

The honors list is similar to the dean’s list; however, it may have different GPA requirements — usually lower. For example, students may be eligible for a spot on the dean’s list if their GPA is 3.5 or higher, while students on the honors list have a GPA between 3.25 and 3.5.

The President’s List

At some colleges, undergraduate students earn the president’s list award if they earn a perfect 4.0 GPA. Part-time and full-time students may be eligible for this award.

The Chancellor’s List

At schools that offer this award, the chancellor’s list is typically ranked slightly higher than the dean’s list. Both full-time and part-time undergraduate students may usually qualify for the chancellor’s list.

Ways to Pay for College

If you’re aiming to see your name on the dean’s list, financial stress can hinder your ability to succeed academically. Nearly half of college students say their current financial situation makes it difficult to concentrate on their coursework, according to a 2024 survey by Trellis Strategies.

Luckily, there are options out there for prospective and current students who are struggling with how to pay for college. Here are some to consider:

• Fill out the Free Application for Federal Student Aid (FAFSA®) to see if you qualify for financial aid. It’s a good idea to complete the form as early as possible because many colleges award money on a first-come, first-served basis.

• Search for scholarships, which are a form of merit aid to help pay for tuition and other education expenses. There are thousands of available scholarships to students with some even offering a full-ride to a four-year institution.

• Apply for grants. Grants are another form of financial aid that doesn’t need to be repaid. Students can apply for federal, state, or school grants.

• Find a work-study position. The federal work-study program offers part-time jobs to college students with demonstrated financial need, letting them earn money for educational expenses while gaining relevant experience.

• Look at student loans. If you are still struggling to afford school-related expenses after exhausting other forms of financial aid, there are a variety of federal and private student loan options to help.

The Takeaway

Students who make the dean’s list are recognized for outstanding academic achievement. Benefits include personal achievement, prestige, public recognition, the opportunity to attend special events, being granted scholarships, and standing out on job applications.

Students who are less stressed financially tend to do better in school. Options for paying for college include scholarships, grants, federal student loans, and private student loans.

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

What GPA is required to get on the dean’s list?

The minimum GPA for the dean’s list varies by school and it can change every term. However, most schools require at least a 3.5 GPA on a 4.0 scale.

What does it mean when you get on the dean’s list?

What it means to be on the dean’s list is that you’ve ranked in the top percentile of your class. The dean’s list is one of the highest levels of recognition for scholarly achievement.

What is the benefit of being on the dean’s list?

Earning a spot on the dean’s list comes with several benefits. Not only is it a prestigious award and a significant personal achievement, but you could be invited to special events, network with others in your field of study, and attract prospective employers.

Photo credit: iStock/Prostock-Studio

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SOISL-Q425-038

Dec

2025

A young woman sits at a desk intensely focused on a laptop, while working on her college essay.

What Not to Write About in a College Essay

By Austin Kilham | Going to College, Student Loans, student_loan | Comments Off

To help boost the chances that you’ll get into the college of your dreams, it’s important to write a great college essay. The big question is, what should you write about?

When brainstorming ideas for topics, keep in mind that you want your college essay to make you look good and also help you stand out from other applicants. Toward that end, it helps to know what not to write about in a college essay.

Themes that consistently make the “worst college essay topics” list include cliches, stories that college admissions officers have read some version of countless times before, and any topic that reflects negatively on your personality.

Here’s a closer look at the college essay topics you’ll want to avoid, plus insights into the type of writing that can give you a leg up in the admissions process.

Table of Contents

What Do Colleges Look for in Essays?
Why Should You Avoid Certain Topics for College Entrance Essays?
College Essay Topics to Avoid
FAQ

What Do Colleges Look for in Essays?

Colleges are looking for several things in your admissions essay. Generally, they want you to demonstrate strong writing, authenticity, and a unique perspective. Admissions officers are also typically looking to get a sense of who you are as an individual so they can better determine whether you’re a good fit for the rigors of academic life and school culture.

A good essay demonstrates this through vivid storytelling that illustrates your points rather than simply telling the reader what you want them to think and how you want them to feel.

💡 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.

Why Should You Avoid Certain Topics for College Entrance Essays?

Generally, you want to avoid essay topics that could give admissions readers the wrong impression of who you are. It’s also wise to steer clear of essay topics that are cliches. A cliche is an idea (or phrase) that is overused and, as a result, has lost its meaning and potency. At best, cliche college essays can make you look unoriginal, and at worst they can make you look lazy.

Rather than lean on cliches, you’ll want to dig deep into what makes you and your thoughts original. Ideally, you want to choose an essay topic that demonstrates vulnerability and reveals your unique perspective and voice.

Recommended: Important College Application Deadlines

College Essay Topics to Avoid

What follows are some topics you may want to avoid when choosing what to write about in your college essay.

Restating Your Resume

Your college application already includes school transcripts and information about your activities and awards. Rehashing this information is unlikely to translate into a compelling narrative, and it doesn’t teach college admissions officers anything new about you.

If you want to write about a specific extracurricular activity, consider choosing just one, and exploring it in depth to give your reader a better sense of who you are as a person.

Sports Challenges

Sports challenge stories tend to fall into the cliche category of college essay topics. They’re overused, and they tend to be predictable. For example, you may have scored a goal at the last moment, pulling ahead against all odds.

That’s not to say you can’t write about sports in your essay. Original and authentic sports stories that steer clear of cliches can be highly successful. For example, you could focus on how the skills you learned as part of a team translated to another unrelated challenge.

Your Big Performance

As with sports challenges, stories about big performances — music solos, starring roles in plays, speeches — often follow similar plots. The performance goes well, or poorly, and the writer discovers the value of preparation or how they had the inner strength to move past a major disappointment. However, you can use a performance story to tell an original and engaging tale.

Your Hero

It may be tempting to write about a person who has inspired you. But college essays are short. And if you’re not careful, you may spend too much time writing about someone other than the person who should be the star of the essay — you. Remember admissions officers want to know what makes you stand out, not what makes your heroes special.

Romantic Heartbreak

Breaking up is hard to do — even more so when it’s young love. Yet the trials and tribulations of teen romance may not be the best topic for a college essay. Much like writing about your heroes, you may pay too much lip service to someone else, while neglecting to convey enough of your own story.

Illegal or Unethical Activities

If you’ve ever gotten tangled in ethically questionable or illegal activities, your college essay is generally not the right time to mention them, even if it makes for a great story. If you do, even in passing, admissions may worry about the types of behavior you’ll engage in once on campus.

Service Trips

A trip to help serve others in the U.S. or abroad might seem like a great topic for a college essay. Unfortunately, that means a lot of students write about these opportunities, making it one of the most common essay topics. What’s more, these essays tend to follow the same beats. As a result, choosing this topic doesn’t always help you stand apart from the crowd.

Things That Happened Before High School

Writing about events that took place before high school may not give admissions a good sense of what you are like now. The kid who won a spelling bee in seventh grade may bear little resemblance to the high school senior applying for schools. Consider writing about recent events, or be careful to relate events from your past to high school and your current self.

Moving to a Different Part of the Country

Moving is always challenging. But countless students move across the country and switch schools each year. As a result, essays that focus on moves are relatively common. If you decide to write about a move, shift the focus of the essay to how it changed you as a person, pushing you to pursue new interests. It could work if it’s not a story college admissions officers haven’t heard many times before.

Immigrant Stories

If you’ve moved from abroad, be aware that many students in the U.S. have immigrant stories. As a result, stories about making the move, struggling to learn new languages, and trying to fit into a new culture are common essay topics. If you choose to write about this topic, consider narrowing your focus on one aspect of your story that illustrates how you’ve grown and changed.

How You Were Challenged by a Bad Grade

How you overcame a challenge is often one of the essay prompts on the Common App. You might think that writing about what you did after getting a low grade fits the bill, but it’s generally not a good idea to delve into this topic. For one, it highlights the fact that you got a bad grade to admissions’ officers. Another problem is that other applicants will likely have more serious hardships and challenges they have had to overcome, which could make your essay topic appear less consequential.

Tragedies

In and of themselves, tragedies are not necessarily a bad topic for college essays. However, it can be easy to fall into cliched writing as you tell these stories. Hackneyed themes and phrases include “life is short,” “time heals all wounds,” and “seize the day.” If you write about a tragedy you have known or experienced, be sure to make it personal, honest, and specific to you.

Sensitive Topics

Generally speaking, if a topic is one you would avoid bringing up at the holiday dinner table, you’ll likely want to avoid it in your essay as well. It can be tricky to discuss things like politics or religion in a way that is original and personal to your experience. What’s more, essays on these topics may trigger unconscious bias in the admissions staff reading your essay, which can color how they view you and your fit at the school.

Your Privilege

If you’ve been lucky enough to grow up with a lot of resources at your disposal, discussing them may not be a strong strategy. It can make it seem like you haven’t had to work through any challenges. Instead you might consider essay topics that demonstrate vulnerability and grit in the face of adversity.

Attempts to Break the Essay Mold

You may be tempted to try to make yourself stand out with a creative essay that breaks traditional forms. For example, you might try to write a poem instead. You’re likely not the only one who has had this idea, and you may rob yourself of the chance to demonstrate your creativity through prose. The traditional essay is what admissions has asked for, and it may give you the most opportunity to demonstrate who you really are.

💡 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.

The Takeaway

The best college essays tend to focus on specific moments when a student has learned something important, changed, and grown as a person. Ideally, you want your college essay to give readers a sense of your character, and how you may continue to change as you pursue your academic career. Avoiding cliches and other tricky topics can help you successfully reveal your true self.

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

What are the most common essay topics?

Some of the most common essay topics include:

• A meaningful interest or talent

• Something meaningful in your background/identity

• Lessons you’ve learned from obstacles you’ve encountered

• Times when your beliefs have been challenged

• Something someone has done for you that’s made you grateful in a surprising way

What Do College Essays Look for?

Colleges generally look for authenticity, strong writing, and a unique perspective in your essay. Admissions officers want to get a sense of who you are as an individual beyond your academic record. The essay is your chance to demonstrate maturity, self-awareness, and how you would contribute to the school’s culture. A successful essay uses vivid storytelling to show these qualities rather than just telling the reader.

How Much Does Your College Essay Matter?

How much your college essay matters depends on the institution. For highly selective colleges, the essay can be a critical factor, often serving as one of the few places an admissions committee gets a clear sense of your unique personality and voice beyond your grades and test scores. It can tip the scales when an applicant’s academic record is similar to others. For schools with a less holistic review process, its importance may be slightly lower, but it remains a valuable opportunity to demonstrate strong communication skills and a good fit for the school’s culture.

Photo credit: iStock/Delmaine Donson

SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

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

SOISL-Q425-030

Dec

2025

A woman in a high school graduation cap looks up thoughtfully, symbolizing college success and opportunity.

How Do You Find Non Academic Scholarships for College?

By Stacey Leasca | Going to College, Student Loans, student_loan | Comments Off

Imagine this: After 12 long years of education, it’s finally time to head to college. But hang on, because there’s a catch — tuition is much higher than you thought, and the school didn’t offer an academic scholarship.

One alternative for students can be to find a non-academic scholarship and keep pushing toward that dream. Here are tips on finding non-academic scholarships to help pay for a college education.

Table of Contents

What Is a Non-Academic Scholarship?
Where to Find Non-Academic Scholarships
Types of Non-Academic Scholarships
How to Get a Non-Academic Scholarship
Tips for Finding & Applying for Non-Academic Scholarships
FAQ

Key Points

• Non-academic scholarships are awarded based on talent, athletics, community involvement, heritage, or interests rather than grades.

• Students can find opportunities through school counselors, college admissions/financial aid offices, scholarship databases, and local organizations.

• Unique options exist — from area-of-study and regional scholarships to creative contests like the Duck Tape “Stuck at the Prom” Scholarship.

• To improve chances, students should start early, meet deadlines, showcase personality in essays, and carefully proofread applications.

• Persistence is key — keep applying to multiple scholarships to maximize financial support.

What Is a Non-Academic Scholarship?

Scholarships are one type of financial aid available to students that don’t need to be repaid and are typically awarded based on merit — that is, being especially knowledgeable or skilled in one area. Grants, which also do not need to be repaid, are typically awarded based on need and not based on academic or athletic merit. For example, Pell Grants are federal grants awarded to undergraduate students who exhibit exceptional financial need.

Scholarships can be awarded for many different reasons, including academic achievement. However, just because someone isn’t an A+ student doesn’t mean they can’t qualify for a scholarship. There are non-academic scholarships that are based on athletic or artistic achievement, community involvement, extracurricular activities, and more. Students may just need to put in a bit of legwork to find ones they qualify for and apply.

Recommended: Finding Free Money for College

Where to Find Non-Academic Scholarships

The first step in getting a scholarship is to find it. Here are a few places to start your search.

School Counselor’s Office

You might start by checking in with your high school counselor to see about any non-academic scholarship they may know about. The office may have a list of options available to students, and because they may know your skills and future aspirations, they may be able to hone in on the right scholarship for you.

School counselors may also have helpful information on navigating the financial aid process. One piece of the funding puzzle may be undergraduate loans if scholarships don’t cover all of the costs. Students may consider private student loans after exhausting federal aid, including federal student loans.

Recommended: Guide to Private Student Loans

College Admissions Website

If you’ve already been accepted to school, you might check in with your college’s admission website. There, you could find a list of potential scholarships offered directly by the school. You might also reach out directly to the admissions office or future academic counselors for assistance.

As the school year nears, you may consider checking in with your college’s financial aid office to see if they can guide you to unclaimed scholarships.

Scholarship Listing Websites

There are several scholarship search tools out there that roundup available scholarships to students, including destinations like FastWeb or CollegeBoard. Here, you can sift through hundreds of available scholarships and find help with the application process as well.

Professional Associations and Clubs

Another place to find scholarships includes professional associations and clubs, such as your parent’s employers, local businesses, and more.

A quick Google search on professional organizations in your chosen field of study can also uncover scholarships. Most are free to join and include fields such as marketing, engineering, graphic arts, law, and more.

Friends and Family

Simply asking around for scholarship opportunities can’t hurt. Consider reaching out to your network and letting everyone know you are on the hunt for financial assistance. Someone may know of a specific scholarship that could be the perfect fit.

Connect With the Community

Explore connections with local religious groups, business, and other organizations. Having an existing connection can potentially improve your chances of securing a scholarship. Plus, you may face less competition when you apply for more local scholarships.

Types of Non-Academic Scholarships

Need a little help thinking about what type of non-academic scholarship may fit? Here are a few types of scholarship to help you get started.

Talents

Have a unique talent? There may very well be a scholarship available for it. For example, you can find scholarships for duck calling, dancing, drawing, and much more.

Athletics

Each year, there are more than 180,000 athletic scholarships awarded to students. Scholarships are available for a wide variety of sports to both men and women, including volleyball, tennis, swimming & diving, skiing, lacrosse, golf, fencing, and more.

Heritage

Some students may also find non-academic scholarships based on their heritage. Students from minority groups may find additional opportunities, including scholarships for African American or Hispanic students.

Some scholarships may be available through churches, while others can be found on websites like College Board. There, students of various backgrounds can search for a suitable match.

Interests

Students can apply to non-academic scholarships based on their various interests, too. For example, those interested in cars can apply for the National Corvette Club scholarship. Those students that love to cook can apply for the AAC Culinary Scholarships for High School Seniors.

Those who spend their Sundays completing The New York Times crossword puzzle in pen, might apply to the BrightSprout Crossword Scholarship. No matter the interest, odds are there is a scholarship out there for it.

Area of Study

Future and current college students may be able to find a scholarship that suits their future area of study. Students hoping to become their own CEOs can apply for The National Association for the Self-Employed Future Entrepreneur Scholarships, which helps promote “entrepreneurial thinking among aspiring business students.”

Again, if there’s an area of study, odds are there’s a scholarship available for it.

Area Code

Students looking for a non-academic scholarship can search for regional scholarships on many online databases. SoFi runs a state-by-state grant and scholarship database, so you can take a look at what is available in your area.

Other sources for regional or location-based scholarships may include local nonprofits and businesses.

Other, Outlandish Options

There are scholarships available for less obvious reasons, too. One of the more famous wacky scholarships is the Stuck at the Prom Scholarship Contest sponsored by Duck brand duct tape. Each year, the company awards a scholarship of up to $15,000 to a teen who designs and wears a winning dress or tuxedo made out of their duct tape.

How to Get a Non-Academic Scholarship

There are thousands of non-academic scholarships available each year. In order to get a non-academic scholarship, you should first look for scholarships in line with your talents and career interests. From there, you can look to local businesses, friends and family, and your community to find other non-academic scholarships.

And finally, do a Google search for non-academic scholarships you think you may qualify for. There are scholarships available for almost every type of person and every interest, including scholarships for minorities, scholarships for people who dance, religious scholarships, first-generation scholarships, and more.

Tips for Finding & Applying for Non-Academic Scholarships

If you’re hoping to find and apply for non-academic scholarships to help pay for college, there are a few things you can do to increase your chances of getting one.

Start Early

Starting your search early is one of the best things you can do to land a scholarship. Since many scholarships come from the school you’re attending, it’s recommended to fill out the FAFSAⓇ as soon as possible. Some grants and scholarships offered by schools are on a first-come, first-served basis.

It’s also a good idea to start your search early so you can make sure you can meet all the deadlines for the scholarships you hope to apply for. Many will require essays, and the sooner you know which scholarships you want to apply for, the sooner you can get your essays completed and submitted.

Read the Fine Print

Make sure to read the fine print of all scholarship applications. This will ensure you won’t miss any deadlines or important information regarding the scholarship.

Showcase Your Personality

When applying for scholarships and writing essays, it’s important to showcase your personality through your written word. Many non-academic scholarships are fun, so feel free to express yourself and make it so your application stands out from the rest.

Proofread Your Application

Proofreading your application is a great way to catch any grammar errors or application mistakes prior to submission. If it comes down to you and one other candidate, you don’t want to miss out because of easy grammatical errors you could have caught by simply proofreading your application beforehand.

Don’t Give Up

And finally, keep searching and applying for scholarships until you receive the amount of money you’re hoping for. Scholarships can be competitive, so don’t get down on yourself if you’re struggling to get one. Instead, keep the momentum going by continually searching and applying for new opportunities as they arise.

The Takeaway

Non-academic scholarships can be awarded based on talent, skill, interest, and more. Some scholarships may even be regional or location based. To find non-academic scholarships, consult with your guidance counselor, your college’s financial aid office, local business and nonprofits, and online scholarship databases.

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

Are there non-academic scholarships?

Yes. Non-academic scholarships are widely available and are awarded based on criteria other than academic performance, such as athletic skills, artistic talent, community service, heritage, interests, and chosen area of study. Students who may not have a perfect GPA can often find opportunities through their college, local organizations, professional associations, and online scholarship databases.

What is the $40,000 niche scholarship?

The $40,000 Niche Scholarship refers to a no-essay scholarship awarded by Niche.com that gives one student a large sum — now $50,000 — for college expenses. Eligible applicants include U.S. citizens who are looking to attend college or graduate school in the next year. The winner is selected via a random drawing from brief profile submissions. The application deadline is typically at the end of December.

Is the $2000 Sallie Mae scholarship real?

Yes, the $2,000 Sallie Scholarship Sweepstakes is a legitimate no-essay scholarship that is typically awarded monthly. Eligible applicants include high school students, college students, and parents/guardians, with winners selected through a random drawing. Since it is a sweepstakes, the entry requirements are minimal, usually only requiring a brief online form submission.

SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

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