A brown-haired woman sitting on her living room sofa and stretching her arms while looking at her laptop screen.

30 Best Jobs for Introverts

Introverts can succeed in almost any job that interests them. Contrary to what many people might think, introverts aren’t necessarily shy, but they do like working independently or in small groups. They typically are drawn to inner thoughts and ideas versus focusing on external matters. In addition, they may prefer having some quiet time to reflect and recharge instead of a job that requires nonstop meetings.

Thankfully, there are plenty of jobs that can suit this personality type and offer a challenging and fulfilling career path. Read on to learn more.

Key Points

•   Introverts often thrive in roles that include independent work, quiet environments, and minimal large-group interactions.

•   Many low-stress jobs for introverts leverage analytical, creative, or empathetic skills in one-on-one or small-team settings.

•   High-paying careers such as a physician, a data scientist, and a software developer can suit introverted personalities.

•   Hands-on or detail-oriented roles, including plumbing, landscaping, and proofreading, are ideal for those seeking focus and autonomy.

Self-employment or jobs offering flexible schedules can benefit introverts who prefer to manage their own workload.

What Makes the Ideal Job for an Introvert?

According to conventional psychology, introverts prefer to spend time with just one or two people, rather than larger groups or crowds. They’re not necessarily loners; in fact, many have highly developed social skills. However, they tend to gravitate toward situations and environments in which they feel less pressure to react or respond quickly or to engage with multiple people (such as constantly leading major team meetings).

An ideal job for an introvert may allow them to:

•   Work independently

•   Work alone or in quiet spaces that allow them to think and deploy their analytical and decision-making skills

•   Focus on one task at a time

•   Engage one-on-one (or one-on-a-few) instead of in large groups

•   Leverage their empathy and creativity

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What Kind of Work Does Not Fit an Introvert?

As noted above, jobs that require a lot of collaboration with or presentations to large groups of people may not be a great fit for introverted people. Introverts are likely to be less comfortable with jobs that involve loads of group brainstorming sessions or that require them to regularly verbalize their thoughts and feelings to multiple people at once.

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30 Jobs for Introverts

Finding a rewarding job as an introvert means finding a career that suits your interests and caters to your inner-directed personality type, as described above. Some careers may particularly appeal to people who prefer independent work or minimal social interaction, similar to roles featured in this list of entry-level jobs with little human interaction.

Here are 30 jobs that can be a great match for introverts, with salary information from the Bureau of Labor Statistics.

1. Web Developer or Digital Designer

•   2024 median salary: $95,380

•   Primary duties: This career is all about the design, coding, and development of websites for optimal performance and user experience. This could be a job where an introvert works solo all day, or it might involve small team collaborations. With its union of creativity and analytical insights, web development can be a great option for introverts.

2. Farmer or Rancher

•   2024 median salary: $87,980

•   Primary duties: The image of farmers and ranchers working solo in wide open spaces is iconic. While that can be true, this career may involve some interaction with others on a work team. Primary duties are overseeing the production of crops, livestock, and dairy products.

3. Psychologist

•   2024 median salary: $94,310

•   Primary duties: Psychologists can work in a variety of settings, from a medical center to private practice, but the field involves assessing and supporting cognitive and emotional wellness. This can be a very rewarding career for introverts who want to channel their empathy and social skills.

4. Plumber, Pipefitter, or Steamfitter

•   2024 median salary: $62,970

•   Primary duties: This career is all about installing and repairing pipe fixtures. There aren’t many meetings or lots of large-group interactions. Introverts can enjoy the focus and problem-solving this job demands, and skilled trades such as plumbing are often among the high-paying trade jobs in demand.

5. Postal Service Worker

•   2024 median salary: $57,870

•   Primary duties: Typically, this work involves collecting, sorting, and delivering mail to businesses and private residences or helping post office customers. It can give introverts the opportunity to work alone or have small-scale interactions.

6. Social Worker

•   2024 median salary: $61,330

•   Primary duties: Social workers help people resolve problems in their lives. Introverts who are empathetic listeners, enjoy helping others, and find lots of one-on-one interaction satisfying will likely enjoy social work.

7. Heating, Ventilation, and Air Conditioning Technician

•   2024 median salary: $59,810

•   Primary duties: This job requires workers to assemble and repair heating, cooling, and ventilation systems. It can suit the mechanically inclined and those who like to be immersed in hands-on problem-solving.

8. Environmental Scientist

•   2024 median salary: $80,060

•   Primary duties: In this job, a person uses their knowledge of nature to improve the environment and human health. It can involve time outdoors and in a lab, with opportunities to analyze and interpret research data.

9. Delivery Truck Driver

•   2024 median salary: $42,770

•   Primary duties: For those who like lots of solo time and the feeling of being on the open road, being a delivery truck driver can be a dream job. Duties involve the pickup, transport, and delivery of packages or goods from one location to another.

10. Writer or Author

•   2024 median salary: $72,270

•   Primary Duties: Writing is a diverse career, ranging from writing fiction to composing technical manuals for manufacturers. It can allow an introvert to explore a particular passion in print and often involves a good amount of independent work. Many writers also work remotely, which means they may experience some of the benefits of working from home.

11. Librarian

•   2024 median salary: $64,320

•   Primary duties: This can be a fulfilling career for introverts; most interactions involve collaborating with individuals seeking help with research. Plus, it taps both creativity and problem-solving skills and usually has a steady pace. Bonus: Librarians tend to work in quiet environments.

12. Physician

•   2024 median salary: $239,200

•   Primary duties: This demanding career requires a high level of training. With a salary well into six figures, this is one of the highest-paying jobs on our list. It offers the rewarding work of interacting one-on-one with patients and other members of a medical team to treat illnesses and help people achieve optimal health.

13. Roofer

•   2023 median salary: $50,970

•   Primary duties: For introverts who value independence and enjoy problem-solving, being a roofer can be a good fit. Most of the workday is spent replacing, repairing, and installing roofs on buildings and houses. Many skilled or hands-on careers like this can also fall into the category of well-paying jobs without a college degree.

14. Surveying and Mapping Technician

•   2024 median salary: $51,940

•   Primary duties: Collecting data and taking land measurements in order to create maps of the Earth’s surface is a unique job, melding creative and analytical pursuits. It’s unlikely to involve many large meetings and can give introverts the think time they love.

15. Mechanic

•   2024 median salary: $49,670

•   Primary duties: This job can be a good fit for those who like to work with their hands and problem-solve with a small team as they troubleshoot and repair automobiles and other forms of transportation.

16. Bookkeeper

•   2024 median salary: $49,210

•   Primary Duties: Love a good spreadsheet and balancing finances? Being a bookkeeper can provide satisfying work for those who enjoy working with numbers. The role also has potential as a work-at-home job for retirees.

17. Interpreter or Translator

•   2024 median salary: $59,440

•   Primary duties: Provided you have deep knowledge of one or more foreign languages, this can be a solid job if you’re an introvert, collaborating one-on-one or in small groups to convert one language into another. It may involve translating texts or translating spoken language in real time.

18. Software Quality Assurance Analyst or Tester

•   2024 median salary: $131,450

•   Primary duties: Techies, this one’s for you; it typically involves testing software to identify and debug problems or to learn how the software works. This can offer plenty of focused work time.

19. Marketing Manager

•   2024 median salary: $159,660

•   Primary duties: This potentially high-earning career focuses on managing outreach to build a business or a brand. This can tap an introvert’s creativity and analytical skills. Small team meetings and travel to meet with clients may be part of the job. With this and other high-paying roles, professionals may benefit from understanding salary negotiation tactics and strategies.

20. Photographer

•   2024 median salary: $42,520

•   Primary duties: Photographers produce, shoot, and potentially edit (hello, Photoshop!) images for personal or professional use. It’s a highly creative pursuit that may suit an introvert’s personality. Some photographers build freelance businesses or side gigs that can become part of ways to make extra income from home.

21. Proofreader

•   2024 median salary: $51,100

•   Primary duties: This can be a satisfying job, tapping an introvert’s analytical abilities and giving them space to think as they read content and correct spelling, punctuation, and grammatical errors. Proofreading is usually a quiet, somewhat solitary profession.

22. Landscaper

•   2024 median salary: $38,740

•   Primary duties: There’s not too much large-group interaction if you’re a landscaper. Workdays are spent maintaining outdoor grounds by mowing, trimming, planting, watering, fertilizing, raking, and other methods.

23. Physician Assistant (PA)

•   2024 median salary: $133,260

•   Primary duties: Assisting both physicians and patients can put an introvert’s empathy and technical know-how to good use. It does require specialized training: A PA is similar to a nurse practitioner — one step below a doctor and a step above a nurse. With salaries well into six figures, professionals in roles like this may also want to understand how earnings change over time using a salary inflation calculator.

24. Animal Trainer

•   2024 median salary: $33,860

•   Primary duties: Dog, horse, and other animal lovers may find this to be an ideal career, with time spent teaching animals obedience, staying calm, and assisting people.

25. Medical Transcriptionist

•   2024 median salary: $37,550

•   Primary duties: Medical transcriptionists, as the name indicates, transcribe voice recordings from physicians and nurses and convert them into written reports. This can provide a career with plenty of quiet time for detail-oriented introverts.

26. Floral Designer

•   2024 median salary: $36,120

•   Primary duties: A floral designer can spend their days arranging decorative displays using live, dried, or silk flowers, which can be a creative endeavor without too many big meetings.

27. Data Scientist

•   2024 median salary: $112,590

•   Primary duties: Data scientists deploy analytical tools and techniques to pull valuable insights from data. This is listed as one of the fastest-growing jobs in today’s digital economy.

Recommended: How to Make a Personal Budget

28. Teacher

•   2024 median salary: $64,580

•   Primary duties: Teachers and instructors are responsible for helping students of different ages learn various topics and skills. The job may tap an introvert’s empathy, and it may involve small meetings with students or their parents. Bonus: Teaching can be one of those jobs that pays off student loans through the Public Student Loan Forgiveness program.

29. Hand Sewer

•   2024 median salary: $36,650

•   Primary duties: Technically speaking, this job is about sewing and finishing items with a needle and thread. It can suit craft-oriented, creative, and independent workers who like the mental space it provides.

30. Accountant

•   2024 median salary: $81,680

•   Primary duties: An accountant prepares or reviews financial records, tapping their analytical skills. This career can incorporate interactions with individual clients or businesses, which may suit introverts well.

The Takeaway

There are many challenging and satisfying jobs that can suit introverts, from writer to data scientist to physician. In fact, many high-paying and rewarding jobs are well-suited to the personality traits of introverted people.

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FAQ

What are good jobs for introverts?

There are many jobs that suit introverts well and leverage their empathy, creativity, and analytical skills. These can include a research librarian, a physician, or a landscaper, among others.

Is self-employment good for introverts with anxiety?

Self-employment can be a good fit for introverts who experience anxiety working with large teams or with multiple people. However, self-employment can also create stress if it requires you to search for clients or manage a large workload on your own.

What is a good job for someone with introverted qualities?

Any job that allows you to work independently and in a quiet environment at least some of the time is generally better if you’re an introvert. A floral designer and a proofreader are good examples of this.

What types of work environments do introverts typically prefer?

Introverts often do not desire large-group interaction and prefer focused work, small teams, and one-on-one communication to be productive. They generally tend to avoid the overstimulation of constant meetings or crowded workplaces.

Can introverts succeed in high-paying careers?

Yes. Many high-paying careers can suit introverted personality traits. Roles such as physician, software developer, and data scientist often involve analytical thinking, specialized expertise, and focused work that may appeal to introverts while offering strong salary potential.


Photo credit: iStock/Wiphop Sathawirawong

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Gray salon chair with chrome base and armrests positioned alone against a peach-colored wall.

Paying for Cosmetology or Esthetician School

Looking good comes with a cost. Just ask a cosmetologist. The average price of beauty school ranges from about $8,000 to just over $21,000 a year.

A career in cosmetology can be rewarding. You get a creative outlet and a chance to help others look their best. It also offers flexibility for a good work–life balance. But the licensing process can add up.

Cosmetology and esthetics programs are offered through community, technical, and vocational colleges — accredited institutions that qualify for financial aid. Accreditation broadens the range of financial aid options. Prospective students can consider interest-free loans or payment plans, financial aid from schools, scholarships, grants, and government or private-entity loans. Let’s explore some detailed information on the types of financial aid that pay for cosmetology school.

Key Points

•   Cosmetology and esthetics programs from accredited institutions qualify for federal and private financial aid.

•   The average cost of beauty school tuition is $8,000 to $21,000 per year.

•   Filling out the FAFSA is the first step to applying for federal grants (like Pell Grants) and federal student loans (like Direct Subsidized and Unsubsidized Loans).

•   Other funding sources include scholarships, working part-time, private student loans, and school-specific financial aid or payment plans.

•   Esthetician programs focus on skincare, while cosmetology programs cover hair, skin, and nail care.

Esthetician vs Cosmetology School

Esthetician licenses focus on skincare treatment, recommendations, and analysis. Treatments include facials, massages, and waxing. With this license, you can work at spas, salons, or doctors’ offices, such as plastic surgeons or dermatologists.

Cosmetology covers the creative styling of hair, skin, and nails but also provides basic training in treatments. Students can get an esthetician license through a cosmetology program. A career in cosmetology can lead to work as a makeup artist, hair stylist, or manicurist. License holders typically work in salons, spas, the entertainment industry, and hotels or resorts. The table below outlines some of the differences between an esthetics license and a cosmetology license.

Field Esthetics License Cosmetology License
Average School Tuition $7,433 (average of top ten U.S. schools) $16,251
Subjects Techniques and science behind skin care treatments. Specific subjects include skin anatomy, facial and makeup techniques, hair removal, and medical office esthetics. Hair, skin, nail care, and styling. Specific subjects include skin anatomy, makeup, and haircutting.
2024 Median Salary $41,560/year $35,420/year
Job Growth 2024-34 7% (Much faster than U.S. average) 5% (Faster than U.S. average)
Types of Jobs Skin care specialist (esthetician), makeup artist Hair Stylist, barber, cosmetologist

Be sure that your school is state-approved. You can search for schools through your local government’s licensing process. It’s also helpful to know whether your certificate is transferable to other states and which states accept it. This way, your time and resources aren’t lost.

Below are organizations that can help you find accredited and state-approved programs:

•   Accrediting Commission of Career Schools and Colleges (ACCSC)

•   Accrediting Council for Continued Education & Training (ACCET)

•   Council on Occupational Education (COE)

•   National Accrediting Commission of Career Arts and Sciences (NACCAS)

Typical Cost of Beauty Schools

Beauty school programs are generally more affordable than the average four-year program. According to the College Board’s Annual Trends in College Pricing report, during the 2025-2026 school year, the average cost of tuition at a four-year nonprofit institution was $45,000. Cosmetology students, in contrast, can expect to pay around $16,251 to complete a degree in their field. However, the median graduate is also repaying about $10,000 to $14,000 in student loan debt.

Esthetician School

Requirements for esthetics licenses vary by state. Students can expect to complete 600 to 1,500 hours, depending on state program requirements. Most states require students to pass a state-issued exam to obtain a license upon completing a program. For example, Washington requires students to complete a program of not less than 750 hours and to fill out a license application.

Students can also specialize in esthetics as part of their overall cosmetology program.

Cosmetology School

Each state requires a cosmetology license to practice. While requirements differ, most states require three things: you must meet the minimum age, hold a high school diploma or GED, and have completed a state-licensed cosmetology program.
Some states also require an exam to obtain a license, and some require regular license renewals.

While states can issue a license that covers all cosmetology specialties, some require separate licenses in specializations such as barbering or manicuring.

Programs range anywhere from 1,000 to 2,300 hours across states and usually include retail and business admin training to supplement. Specializing in a field, such as nail care, requires additional hours. Finally, programs are hands-on — meaning students have limited online options.

The National Interstate Council of State Boards of Cosmetology has a registry of state offices you can use to learn your state’s requirements. ​​

Possible Funding Source #1: FAFSA®

Does the Free Application for Federal Student Aid (FAFSA) program pay for cosmetology school? Yes! However, students who apply must be enrolled in an accredited program to be eligible.

The first step to applying for government financial aid is filling out the FAFSA form. New forms are released each year on October 1, and the sooner you complete one, the more likely federal grants will be available.

Information provided on the FAFSA helps to determine your eligibility for federal student aid. The government, states, and colleges also use it to determine the amount of financial aid to award you. The schools you list on your form will review your FAFSA and put together an aid offer. If your school’s financial aid does not cover the entire cost of tuition, you can use FAFSA to apply for federal grants and student loans.

If you’re unfamiliar with setting up FAFSA, this FAFSA guide provides an overview of the form and the aid options available. Here’s a brief explanation of some of the aid types that may be available to students.

Pell Grants

The government awards Pell Grants to students from lower-income families who have not previously earned a degree. Unlike loans, they don’t need to be repaid.

The Pell Grant’s 2025-26 award year maximum is $7,395, and students may be eligible for up to twelve terms. The amount is determined by the following:

•   Expected Family Contribution (EFC), or the amount your family can pay

•   Cost of Attendance (COA), finalized in your school offer letter

•   Full-time or part-time status as a student

•   Length of your school’s academic year

Schools will disburse the federal grant to you directly, apply it to your tuition, or both. To receive Pell Grants, students must stay enrolled in their respective program of study and fill out the FAFSA form each year.

Direct Subsidized and Unsubsidized Loans

The Department of Education also offers Direct Loans. Cosmetology students may be eligible for either subsidized or unsubsidized loans. The government pays for the interest rate of subsidized loans as long as you’re enrolled in a program, for the first six months after leaving school, and during qualifying deferment periods. Interest rates for unsubsidized loans are not covered. Subsidized loans are awarded based on financial need, while unsubsidized loans are not.

Applying for a federal loan offers these key advantages:

•   Low fixed interest rates

•   Flexible repayment plans

•   Possibility of forgiven loans

•   Deferment and forbearance options

Parent PLUS Loans

PLUS loans are available to parents of undergraduate students, graduate students, or professional students. They offer some of the advantages of federal Direct Loans, but offer higher borrowing limits.

Parents can also apply for Parent PLUS Loans on their children’s behalf. Unlike other federal student loans, these require a credit check and are not based on financial need.

Possible Funding Source #2: Scholarships

A good place to start your scholarship search is with your school. Its aid letter will outline scholarships awarded from its program. You can contact them to see if there are additional scholarships you can apply for at the school.

Professional associations also offer scholarships based on need or merit. The beauty industry associations below have lists of scholarships.

•   Professional Beauty Association

•   National-Interstate Council of State Boards of Cosmetology

•   American Association of Cosmetology Schools

The U.S. Department of Labor also offers a free scholarship finder.

Finally, ethnicity-based groups, employers, or your parents’ employers may also offer tuition assistance and scholarships.

Possible Funding Source #3: Working Part Time

Since cosmetology programs are shorter, working part-time to help pay for college is feasible. Try getting work in your field as an assistant or in an office admin role. That way, you can learn while getting paid — and even get a foot in the door.

Studying and working is a fine balance, and it depends on how much time you can commit. If studying fills up most of your week, you may not be able to focus on studying for the career you hope to work in, and it may also hurt the scores you need to pass exams required to work in the industry.

You can also seek mentorship with working cosmetologists to get advice on how to do both.

Possible Funding Source #4: Private Student Loans

After exhausting all other avenues of aid, private student loans can help cover the remaining costs. Banks, credit unions, and online lenders offer private undergraduate student loans. They can be applied to a range of programs, including cosmetology school.

Lenders will perform a credit check to determine your interest rate and how much you are eligible for. Students who don’t have credit scores will need a cosigner, usually a parent. SoFi’s student loan payment calculator can help you determine what you can afford.

Recommended: Student Loans: A Refresher Course

Possible Funding Source #5: School-Specific Financial Aid

Financial aid availability depends on your school.

Aveda Institute Maryland, for example, offers the option of VA benefits and the GI Bill for those who qualify. Paul Mitchell Schools also offers three forms of military financial aid, including the My Career Advancement Account Scholarship Program for military spouses.

Delgado Community College in New Orleans provides financial assistance on a first-come, first-served basis. Students must complete a FAFSA form, an online scholarship form, and accept or decline their aid offer letter.

Possible Funding Source #6: School-Specific Payment Plans

College tuition payment plans are an option. Instead of paying tuition upfront at the beginning of the year, students pay tuition in installments.

Payment plans are an excellent alternative to taking out loans since plans are generally interest-free. Check with your school for eligibility requirements and enrollment period deadlines.

The Board of Cooperative Educational Services in Western Suffolk, Long Island, and Alexander Paul Institute of Hair Design offer no-interest payment plans.

Explore Private Student Loans With SoFi

Cosmetology and esthetician careers require state-approved schooling and licenses. These accredited programs are eligible for federal financial aid, and some schools offer additional aid. Zero-interest payment plans can be a huge help in paying for a program.

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

Can FAFSA be used for beauty school?

Yes. States require students to participate in state-approved, accredited beauty schools to obtain a license. Students enrolled in post-secondary programs at accredited institutions qualify for financial aid.

Do you work and earn money while in cosmetology school?

Students typically cannot work in their field without a license, unless it’s an unrelated job in the industry. Find out if your school participates in the Federal Work-Study Program. These programs are available to part-time or full-time students with financial needs. Students will usually find jobs at their school or with private for-profit employers that have agreements with the school. The jobs are typically relevant to your field of study.

Are beauty schools accredited? How do you select a good program?

Yes, beauty schools can be accredited for post-secondary education. Always check that your program is accredited to avoid predatory schools with poor programming. Consider starting your search with state license departments. The National Interstate Council of State Boards of Cosmetology has a directory of all 50 state centers.


Photo credit: iStock/petrovv

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

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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How an MBA Can Help With Career Change

A Master of Business Administration (MBA) degree is a popular degree for professionals looking to change their careers or industries, move up within their companies, or increase their earning potential. An MBA can not only open doors but also offer access to a variety of experiential learning opportunities during your course of study. This can give you a chance to “try on” different jobs and find the industry and role that suits you best.

Reputable business schools also generally have strong job placement rates in multiple industries and tend to attract a wide mix of corporate recruiters. Indeed, MBA graduates frequently enter fields that are different from the areas they worked in prior to business school.

Whether you’re thinking about going to business school, are in the process of getting your MBA, or already have an MBA, here’s a look at how you can use this degree as a tool for career reinvention.

Key Points

•   Before pursuing an MBA, consider your career goals and what you aim to do with your degree.

•   To change careers with an MBA, look for a program that matches your interests and goals.

•   Internships allow you to gain practical experience, grow your network, and see if an industry is a good fit for you while earning a stipend.

•   MBA programs can come with a significant price tag.

•   You can pay for business school with merit-based fellowships, scholarships, grants, or student loans (though private student loans may not have the benefits and protections of federal student loans).

Exploring Career Change Opportunities

Before pursuing an MBA or using your MBA to change careers, it’s important to fully think through why you want a career change and what you want to do with your MBA degree. Here are some steps that can help you find a career that matches your interests, skills, and core values.

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Identifying Interests and Transferable Skills

When considering a career change, it’s often helpful to look at the areas where you’ve achieved success and satisfaction in the past, including both your academic and professional careers. Looking at these highlights can provide clues into what interests you, what you’re good at, as well as how you might use those skills in a new field.

As you brainstorm, you may want to speak with friends, family members, and your professional network to bounce off ideas and get input on where they could envision you working and thriving. It might also be helpful to speak with a recruiter at a staffing agency or a professional career counselor.

Researching Industries and Job Markets

You might next create a list of careers you’d consider outside of your current industry, then research what job prospects look like in each area. You can use the U.S. Bureau of Labor Statistics employment projections to discover the fastest-growing jobs, along with sites that track average salaries and list top-paying jobs and companies by industry.

Recommended: Is Getting an MBA Worth It?

Exploring an MBA for a Career Change

An MBA is a comprehensive program that can give you an opportunity to update and enhance your existing knowledge and skills and put them into practice. It can also be a great way to explore different avenues in business management to identify what works best for you.

While completing your degree, you’ll likely get exposed to a range of different business roles. You may discover that you have a passion for finance, strategy, or analysis, or maybe you are interested in starting your own business as an entrepreneur.

MBA programs can also offer valuable networking opportunities since they attract a wide variety of students who will likely go on to have business careers. Most business schools also offer access to vast alumni networks and career fairs to offer additional chances to connect with potential employers and help build your professional network.

Recommended: Tips on How to Pay for MBA School

Choosing the Right MBA Program

To build a new career path with an MBA, it’s important to find an MBA program that fits your particular interests and goals. You might look for programs that offer specialized concentrations that match your desired career path. You can then take a close look at the curriculum and courses to see if they spark your interest.

Geographical location of the college is also something to consider, since it’s generally easier to explore jobs or pursue internships in the local area while completing your MBA.

It’s also a good idea to check the employment report of the previous years to know how many students have successfully managed career transitions and which companies tend to recruit from the school. Consider reaching out to alumni to obtain feedback about the program and their experiences.

Leveraging MBA Internships

An internship allows you to gain practical experience in a new field and see if it’s a good fit for you while also earning a stipend. Completing a summer or in-school internship is important for all business school students, but it can be especially helpful for those who are looking to make a significant career change.

Completing an internship in your target industry or function can also help connect you with the relevant contacts that can shape your next career and help you pursue and achieve your goals. For some career-switchers, a business school internship can turn into a full-time job after graduation.

Tips for Using an MBA for a Career Change

Once you’ve been out in the work world, changing careers can feel like a mountain to climb, even if you have an additional degree. Here are some tips that can help you navigate a successful career transition.

Crafting a Compelling Career Change Story

Before you start writing your resume, cover letter, or LinkedIn profile, you’ll want to have a clear idea of what your career change story is. What are the main reasons why you decided to switch careers? What are the skills and qualities that you have developed or transferred from your previous roles? How do they relate to your target industry or position? What are the benefits or outcomes that you can deliver to your potential employer? Your core message should be concise, consistent, and relevant to your career goals.

Your career change story is likely not one-size-fits-all. You may want to tailor it to the specific needs, expectations, and values of your target employer. You can do this by researching the company, the industry, and the job description. Once you discover their main problems, goals, and priorities, you can tailor your story toward how you can help them address those issues or achieve those objectives.

Defining Your Personal Brand

The term “personal brand” refers to who you are professionally, separate from who you are as an employee of a certain company. If you can find a way to market who you are, then you can communicate why you’d be a strong worker for a different type of job and/or field.

It can be easier to pivot in your career if you’ve consistently marketed yourself and the skills you bring to the table. Here are some suggestions for building your personal brand:

•   Create a personal website or portfolio.

•   Prepare an “elevator pitch” about what you do.

•   Be active on social media platforms, such as LinkedIn, X, or Facebook.

•   Find ways to network.

•   Revamp your resume to reflect your brand.

Leveraging Your Degree

Once you have an MBA degree, it’s important to highlight your degree and MBA specialization on your resume so it’s easier for an employer to see where you’re most capable. You can also highlight how you have invested in your professional development, not just through your graduate degree but also through attending workshops, reading books, or joining networks.

If you are making a significant career switch, you may want to let potential employers know how you have applied or practiced what you have learned, such as working on projects, volunteering, or freelancing. Showing your learning and growth demonstrates your commitment, curiosity, and adaptability to the new career.

Quick Tip: Refinancing your loans could be a great choice for working graduates who have higher-interest Graduate PLUS loans, Direct Unsubsidized Loans, and/or private loans.

Covering the Cost of Your Education

Pursuing an MBA program can be a valuable asset for those looking to change careers, but it comes with a significant price tag. The average total cost of an MBA in the U.S. is $242,267, which is no small sum.

Fortunately, many business schools award merit-based fellowships, grants and scholarships to help students pay for school. This is funding you typically don’t need to pay back. And, generally, you may not have to fill out a separate application to be considered for institutional merit aid. For some schools, you are automatically considered when you apply to a program.

If you’re working, your employer may offer education benefits that partially or fully sponsor a graduate business degree. Consider reaching out to human resources to see what benefits your company offers and the requirements that come with them.

If you still have gaps in funding, you might consider taking out a federal or private student loan. The federal government offers two types of loans for graduate school students: Unsubsidized Direct Loans and Graduate PLUS Loans. You generally want to max out Unsubsidized Direct Loans before turning to Graduate PLUS loans, which come with higher interest rates. You might also explore getting an MBA student loan from a private lender. However, even if you find a private student loan with a lower rate than a Graduate PLUS loan, it may not have the same benefits and protections as a federal student loan.

The Takeaway

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

Can an MBA help you change careers?

Yes, an MBA can help you transition to a new career by giving you the opportunity to learn new skills and build up your professional network. Programs also generally offer career services to bridge the gap between your old and new career.

Can an internship help you get a full-time job after graduation?

Yes, an internship can lead to a full-time job after graduation. Internships allow firms to get to know candidates before they make the hiring decisions.

How can you cover the cost of your MBA program?

Merit-based fellowships, grants, and scholarships can be used to help pay for school. If you’re working, your employer may offer education benefits that partially or fully sponsor a graduate business degree. If you need additional funding, you may also want to take out a federal or private student loan. (Just remember that a private student loan probably won’t include the same benefits and protections that federal student loans provide.)


About the author

Julia Califano

Julia Califano

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


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

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

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

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

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Man with dark hair and beard, wearing glasses and a tan shirt, working on his office computer by a window.

Is $120K a Good Salary for a Single Person?

Rising prices are driving worries that money doesn’t go as far as it used to. But rest assured, $120,000 is considered a good salary, especially if you’re single and have no dependents. And by developing sound money habits now, you can help make the most of your income.

Here’s a closer look at what an annual salary of $120,000 means.

Key Points

•   An annual salary of $120,000 is more than the average pay in the U.S.

•   Whether you can live comfortably on this salary depends on which state you reside in and your expenses.

•   Creating a 50/30/20 budget or a line item budget can help you keep track of your expenses.

•   You can consider enrolling in your company’s 401(k) plan and paying off your debt to maximize your paycheck.

•   There are many jobs, such as a software developer or an actuary, that pay $120K or more a year.

Is $120K a Good Salary?

A salary of $120,000 is nearly double the national average, which is about $70,000 based on the latest data from the Social Security Administration. The average salary by state. also varies. Whether you can live comfortably on $120K a year depends on a number of factors, including how much debt you have, your family size, and how much your lifestyle costs in the area you live in.

A money tracker can help you with budgeting, monitoring spending, and keeping tabs on your credit score.

Track your credit score with SoFi

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Average Median Income in the US by State

Median household income is arrived at by dividing the income distribution of all U.S. households into two halves — meaning half of households earn more than that amount, and half earn less. As of 2024 — the most recent data available from the U.S. Census Bureau — the median annual household income in the U.S. was $81,604. Individuals may make more or less depending on where they live, their age, the type of work they do, and other factors.

For reference, here’s a chart of the median household income in each state, based on U.S. Census Bureau data.

State Median Household Income
Alabama $66,659
Alaska $95,665
Arizona $81,486
Arkansas $62,106
California $100,149
Colorado $97,113
Connecticut $96,049
Delaware $87,534
Florida $77,735
Georgia $79,991
Hawaii $100,745
Idaho $81,166
Illinois $83,211
Indiana $71,959
Iowa $75,501
Kansas $75,514
Kentucky $64,526
Louisiana $60,986
Maine $76,442
Maryland $102,905
Massachusetts $104,828
Michigan $72,389
Minnesota $87,117
Mississippi $59,127
Missouri $71,589
Montana $75,340
Nebraska $76,376
Nevada $81,134
New Hampshire $99,782
New Jersey $104,294
New Mexico $67,816
New York $85,820
North Carolina $73,958
North Dakota $77,871
Ohio $72,212
Oklahoma $66,148
Oregon $85,220
Pennsylvania $77,545
Rhode Island $83,504
South Carolina $73,350
South Dakota $76,881
Tennessee $71,997
Texas $79,271
Utah $96,658
Vermont $82,730
Virginia $92,090
Washington $99,389
West Virginia $60,798
Wisconsin $77,488
Wyoming $75,532

Related: Highest Paying Jobs by State

Average Cost of Living in the US by State

The average cost of living where you live will affect how you feel about your $120,000 salary. Similar to salaries, it varies by state. Here’s a look at what a typical resident in each state spends per year on basic necessities, such as housing, food, and transportation, according to the U.S. Bureau of Economic Analysis.

State Average Cost of Living
Alabama $47,096
Alaska $66,356
Arizona $56,211
Arkansas $46,259
California $67,565
Colorado $66,448
Connecticut $66,645
Delaware $60,131
Florida $62,618
Georgia $52,806
Hawaii $60,711
Idaho $48,098
Illinois $60,612
Indiana $51,821
Iowa $49,473
Kansas $51,082
Kentucky $48,901
Louisiana $50,454
Maine $63,046
Maryland $58,310
Massachusetts $71,946
Michigan $54,197
Minnesota $58,433
Mississippi $43,947
Missouri $54,405
Montana $58,499
Nebraska $54,512
Nevada $56,103
New Hampshire $68,900
New Jersey $65,873
New Mexico $48,119
New York $66,426
North Carolina $53,334
North Dakota $58,090
Ohio $52,708
Oklahoma $46,319
Oregon $58,150
Pennsylvania $59,260
Rhode Island $58,041
South Carolina $51,423
South Dakota $54,100
Tennessee $51,507
Texas $54,060
Utah $52,677
Vermont $62,629
Virginia $58,224
Washington $62,837
West Virginia $50,286
Wisconsin $54,705
Wyoming $55,543

Source: U.S. Bureau of Economic Analysis

How to Live on a $120K Salary

Chances are that $120,000 can easily cover your basic expenses, leaving you with money for entertainment and savings. But if you live in a pricey area or are trying to pay down debt, you may need to be more mindful of how you manage your money. The following tips can help.

Live Below Your Means

You‘ve heard it before, but the most important part of living well on your salary is to make sure your expenses are less than your salary. Try to find housing and transportation that fit within your budget, put together a plan for expenses, and manage lifestyle creep as much as you can.

Have a Contingency Fund

Be sure you’re planning for the unexpected. Building an emergency fund can go a long way toward preserving your finances when the going gets tough.

Make a Plan for Your Money

Making a budget — yes, even on a $120,000 annual salary — can help you use your money more effectively and make progress toward financial goals.

How to Budget for a $120K Salary

There are a number of budgeting methods you may want to try:

•   50/30/20 method: With a 50/30/20 budget, 50% of your money should go toward needs (housing, transportation, food, etc.); 30% to wants (spending money, self-care, eating out, and vacations); and 20% to savings and debt payments.

•   Zero-based budgeting: In this type of budgeting, you give a job to every dollar you earn so that your income minus your expenses leaves you with zero.

•   Envelope method: You specify how much money is allotted to a specific category. For example, $300 for gas for the month. You can spend the designated funds until they’re gone. If you’re really disciplined, you won’t spend in that category again until the next month, when the money in the envelope is refreshed.

Of course, the optimal budget is the one you should follow. A budget planner app can help you stay on track and reach your goals.

Maximizing a $120K Salary

Making the most of a $120,000 salary depends on what your financial goals are and your stage of life. Do you want to:

•   Save more money?

•   Grow your net worth?

•   Provide for a family?

•   Enjoy eating out and/or nightlife?

•   Afford a nice car and house?

To maximize a $120,000 salary, invest in the areas of your life that are important to you. Make a plan to spend money according to your values and be more frugal in the areas that are not as important to you.

Quality of Life With a $120K Salary

According to the World Health Organization, quality of life is about a person’s perception of their culture and value systems in relation to their goals, concerns, expectations, or standards. Your quality of life on a $120,000 salary may depend, in large part, on your perception of how good it is. If you feel optimistic about the amount of money you’re making, you’ll likely have a good quality of life.

Is $120,000 a Year Considered Rich?

A $120,000 annual income is a six-figure salary — and a good one for a single person — but is it enough to qualify you as “rich”? The truth is, rich is a relative term. Living well depends on how satisfied you are with your lifestyle and how much you’re able to save for your future.

Recommended: How to Calculate Your Net Worth and Wealth

Is $120K a Year Considered Middle Class?

Middle-class status is determined by incomes that range from two-thirds to double the median income. It’s also adjusted for family size. In the U.S., the median income is $81,604, which puts the range for the middle class between $54,403 and $163,208.

However, when adjusting for family size, a $120,000 salary for a single person typically puts you in the upper-middle class in several metro areas in the United States.

Example Jobs That Make About $120,000 a Year Salary

According to data from the U.S. Bureau of Labor Statistics, there are a number of occupations that pay $120,000 or more — some of which could be a good fit for introverts.

Some examples include:

•   Software Developer: $131,450

•   Physician Assistant: $133,260

•   Nurse Practitioner: $132,050

•   Information Security Analyst: $124,910

•   Actuary: $125,770

Recommended: What Is a Good Entry-Level Salary?

The Takeaway

Is $120,000 a good salary for a single person? Generally speaking, yes. It’s more than what a typical American worker earns and, depending on where you live, can provide you with a comfortable life. But even with a six-figure salary, you may want to consider ways to maximize your money. Sound financial habits like building up an emergency fund, saving for short- and long-term goals, and creating a budget are all good places to start.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

See exactly how your money comes and goes at a glance.

FAQ

Can I live comfortably making 120K a year?

Living comfortably on $120K a year depends on various factors, such as where you live, how much debt you have, your family size, and how you live. Many singles will find $120K enough to live on in many areas of the country, but they may need to be more mindful about their spending if they live in pricier areas such as Los Angeles or New York City.

What can I afford with a $120K salary?

If you’re looking to buy a home with a $120K salary, consider talking to a lender and running some numbers. Many lenders use the 28/36 rule to help borrowers understand how much to use to repay a mortgage and other debts. Experts suggest spending no more than 28% of your income on housing expenses and no more than 36% on total debt payments. Consider using this rule as you make decisions about how large a house to purchase or how much debt you’re willing to take on.

How much is $120K a year hourly?

A $120K salary comes out to approximately $57.69 per hour. This assumes a 40-hour work week.

How much is $120K a year monthly?

A salary of $120,000 per year works out to roughly $7,770 per month. This is the net amount after deducting federal income taxes.

How much is $120K a year daily?

If you earn $120,000 per year, you would be paid around $462 per day. This assumes you work five days a week.


Photo credit: iStock/Delmaine Donson

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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.

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

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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A female firefighter with her right hand on the top of her helmet, standing next to a fire truck and looking down.

Student Loan Forgiveness for Firefighters

Student loan payments are a heavy burden for many people working in public service. The pandemic-related pause on payment and interest accrual on federal student loans offered many firefighters relief from their student loan payments. But in October 2023, student loan payments resumed. Now, many borrowers, including firefighters, are struggling. About 40% of all federal borrowers missed their first payments.

Don’t let stress make you put off taking action on your debt. There are a number of relief programs that can help firefighters lower their monthly payments and even get the balance of their loans forgiven. Here’s a guide to help you navigate your forgiveness and repayment options.

Key Points

•   Firefighters may qualify for Public Service Loan Forgiveness (PSLF) after 10 years of service and 120 qualifying payments.

•   Income-driven repayment (IDR) plans cap monthly payments and offer forgiveness after 20-25 years.

•   Perkins Loan cancellation offers up to 100% forgiveness for eligible full-time firefighters over five years.

•   Loan consolidation can help firefighters qualify for PSLF or IDR by converting loans into a Direct Consolidation Loan.

•   Refinancing may lower interest rates but removes eligibility for federal loan forgiveness and protections.

Understanding Student Loan Forgiveness for Firefighters

If you’re hoping to become a firefighter or are already working as one, you’ve made a noble choice. Besides putting out local blazes, firefighters also rescue victims, educate the public on fire prevention, attend to medical emergencies, and respond to disasters.

While working as a first responder can be rewarding, repaying your federal and/or private student loans can be a challenge on a firefighter’s salary. The good news is that firefighters have options for student loan assistance and forgiveness, including Public Service Loan Forgiveness, income-driven repayment plans, consolidation, and refinancing. What follows is an overview of student loan forgiveness and relief programs for firefighters.

💡 Quick Tip: Often, the main goal of refinancing is to lower the interest rate on your student loans — federal and/or private — by taking out one loan with a new rate to replace your existing loans. Refinancing makes sense if you qualify for a lower rate and you don’t plan to use federal repayment programs or protections.

Public Service Loan Forgiveness for Firefighters

The Public Service Loan Forgiveness (PSLF) program cancels qualifying student loans for individuals, including firefighters and emergency medical personnel, who have worked in public service for 10 years and have made 120 payments on their loans. If you’re eligible, this can be one of the best ways to get loan forgiveness as a firefighter.

Qualifying Criteria for Firefighters Under This Program

To qualify for PSLF, you need to be employed full time by a federal, state, local, or tribal government or a qualifying not-for-profit organization. You can use the Department of Education’s employer search tool to see if your employer qualifies for PSLF.

In addition, you must:

•   Have federal Direct Loans (or consolidate other federal student loans into a Direct Loan)

•   Repay your loans under an IDR plan or a 10-year Standard Repayment Plan

•   Make a total of 120 qualifying monthly payments that don’t need to be consecutive

Note that payments that would have been due during the pandemic-related pause count toward PSLF as long as you meet all other qualifications. You’ll get credit as though you made monthly payments.

If you have Federal Family Education Loans (FFEL), Federal Perkins Loans, or student loans from private lenders, these don’t qualify for PSLF. However, you do have other relief and repayment options (more on those below).

Steps to Apply and Track Progress for Loan Forgiveness

To be considered for PSLF, you’ll need to submit a PSLF form. The easiest way to do this is by using the government’s PSLF Help Tool.

You can use this tool to request that your employer’s eligibility be reviewed (if it’s not already in the government’s database), prepare and sign your PSLF form, and request certification and signature from your employer.

You can log in to StudentAid.gov any time to track your PSLF progress. Keep in mind that you’ll need to certify your employment every year and any time you change employers.

Recommended: How the Trump Administration Is Restricting Student Loan Forgiveness for Public Servants

Income-Driven Repayment Plans and Loan Forgiveness

If you don’t qualify for PSLF, you may find that an IDR plan helps reduce student loan payments so they fit more easily into your budget.

With an IDR plan, you make regular payments based on your income and family size for 20 or 25 years. Payments could even be $0 if you’re currently unemployed or earn less than 150% or 225% of the poverty threshold, depending on the plan you choose.

Whatever balance is left at the end of the repayment term is forgiven.

Loan Forgiveness Options Available Through Income-Driven Plans

The following IDR plans may be eligible for forgiveness:

•   Income-Based Repayment (IBR)

•   Pay As You Earn (PAYE)

•   Income-Contingent Repayment (ICR)

All IDR plans share some similarities: Each caps payments to between 10% and 20% of your discretionary income and forgives your remaining loan balance after 20 or 25 years of payments. (With the SAVE Plan, those with undergraduate loans will see payments decreased from 10% of discretionary income to 5% starting July 2024.)

PAYE and ICR are scheduled to close, and current enrollees in those programs can move into the new Repayment Assistance Program (RAP). Parent PLUS borrowers are not eligible for the RAP but can move into the new Standard Repayment Plan or IBR.

The plans also have some distinct differences, so before enrolling in any income-driven plan, you’ll want to plug your loan information into Federal Student Aid’s Loan Simulator. This will give you a good idea of your monthly bills, overall costs, and forgiveness amounts under each plan.

Payments under every IDR plan could count toward PSLF, so long as you meet other PSLF requirements. If you qualify for this program, choosing the plan that offers you the smallest payment is likely your best bet.

Recommended: Navigating Income-Based Student Loan Repayment

Steps to Enroll in an Income-Driven Repayment Plan

You can apply for an IDR plan online at the government’s IDR request page. You’ll need:

•   A verified Federal Student Aid (or FSA) ID

•   Your income information

•   Your personal information (address, email, etc.)

•   Your spouse’s information (if applicable)

Once you log in online, you can click “I want to enter an income-driven plan.” The application process is quick and easy and should take about 10 minutes. You can save and continue the application later, so you don’t need to finish it in a single session.

Federal Perkins Loan Cancellation for Firefighters

A Perkins Loan is a type of subsidized federal student loan based on financial need. The Perkins Loan Program ended in 2017. However, people who received a Perkins Loan are still required to pay those loans and are eligible for the benefits of the Perkins Loan Program.

As a firefighter, you may be eligible to have up to 100% of your loan balance canceled in the following increments:

•   15% per year for the first and second years of service

•   20% for the third and fourth years

•   30% for the fifth year

Eligibility Requirements for Firefighters

To be eligible for Perkins Loan cancellation, you need to be a firefighter with five years of full-time service employed by a federal, state, or local firefighting agency to extinguish destructive fires or provide firefighting-related services that began on or after August 14, 2008.

Process to Apply for Perkins Loan Cancellation

You can apply for Perkins Loan forgiveness by contacting the school that issued the loan. The financial aid office or billing office should be able to provide the necessary paperwork.

The college will process your completed application. You’ll need to provide them with proof that you work for a qualifying employer as a full-time firefighter to be eligible for Perkins Loan forgiveness.

If approved, you’ll get your Perkins Loan balance, plus the interest on the loan, forgiven in the five stages described above, provided you remain employed as a full-time firefighter.

While you’re enrolled in the Perkins Loan forgiveness program, you don’t have to make monthly loan payments. If you stop working for a qualified employer as a full-time firefighter, however, loan payments will resume right away.

Loan Consolidation for Firefighters

If you have multiple federal student loans and want to simplify repayment, you might consider federal loan consolidation. If you have FFEL, Perkins, or parent PLUS loans, you’ll need to consolidate to be eligible for IDR, PSLF, or other relief programs.

When you consolidate federal loans, the government pays them off and replaces them with a Direct Consolidation Loan. Your new fixed interest rate will be the weighted average of your previous rates, rounded up to the next one-eighth of 1%. Your new loan term could range from 10 to 30 years, depending on your total student loan balance.

You can access the direct consolidation loan application at StudentAid.gov. You’ll need to finish the application in one session, so you’ll want to gather the documents listed in the “What do I need?” section before you start, and set aside about 30 minutes to fill it out.

During the application process, you’ll get the opportunity to choose a repayment plan. You can either get a repayment timeline based on your loan balance or pick one that ties payments to income. If you pick an IDR plan, you’ll need to next fill out an IDR plan request.

Loan Refinance for Firefighters

If you have higher-interest federal or private student loans, you may be able to refinance your debt with another lender to get a lower interest rate, lower monthly payments, or both. Be cautious about extending your loan term to get lower payments, however. Longer loan terms could mean you’ll pay more interest over time.

Refinancing involves taking out a new loan with a private lender and using it to pay off your existing student loans. While your credit rating doesn’t matter when you take out a federally-backed student loan or consolidate federal student loans, in most cases, you’ll need a solid credit score and record of stable employment to qualify to refinance a student loan with a new lender. Generally, borrowers with excellent credit get lower interest rates and better loan terms.

You can often shop around and “browse rates” without any impact to your credit scores (prequalifying typically involves a soft credit check). Just keep in mind that refinancing federal loans with a private lender means losing access to government protections such as IDR plans and student loan forgiveness programs.

💡 Quick Tip: Student loan refinancing could be a great choice for working graduates who have higher-interest graduate PLUS loans, Direct Unsubsidized Loans, and/or private loans.

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The Takeaway

Whether you’re a full-time firefighter or volunteer, we want to help you figure out your best plan of attack on debt that may be putting significant strain on your wallet. Some options that may be able to help ease the burden of repayment for firefighters include PSLF, IDR plans, consolidation, and refinancing.

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

Do firefighters qualify for student loan forgiveness?

Firefighters have several options for student loan assistance and forgiveness, including Public Service Loan Forgiveness, Income-Driven Repayment plans, consolidation, and private refinancing. You may have to provide proof of full-time employment with an eligible employer.

How do firefighters qualify for PSLF?

To qualify for Public Service Loan Forgiveness, you need to be employed full time by a federal, state, local, or tribal government or a qualifying not-for-profit organization and have made 120 qualifying payments under a qualifying repayment plan.

Can firefighters apply for Perkins Loan cancellation even though the program ended in 2017?

Yes, firefighters with existing Perkins Loans can still apply for loan cancellation. To be eligible, you must have five years of full-time service and have been employed by a federal, state, or local firefighting agency to extinguish destructive fires or provide firefighting-related services that began on or after August 14, 2008.


About the author

Julia Califano

Julia Califano

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


SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers.
Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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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.


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

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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