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Student Loan Refinancing: What Happens If There’s Overpayment?

If there’s an overpayment on your student loan, the money might be returned to you or go toward your next loan payment. Another possibility is that you may have to request a student loan overpayment refund.

Student loan overpayment can happen on your federal or private student loans or during student loan refinancing. Fortunately, it can be resolved without too much effort. Here’s a closer look at what happens when you overpay your student loans and how you can get your money back.

Key Points

•  Student loan overpayment occurs when borrowers pay more than the amount owed, and the excess funds may be returned or applied to future payments.

•  Loan servicers typically apply overpayments to interest rather than principal unless borrowers specify otherwise.

•  Borrowers can contact lenders to request that overpayments be directed toward the principal balance, helping to pay off loans faster and save on interest.

•  Refunds from overpayments can be used to cover living expenses, pay down high-interest debt, or make additional principal payments on student loans, including refinanced loans.

•  Overpaying student loans strategically toward principal can shorten loan terms and significantly reduce total interest paid, potentially saving hundreds of dollars over time.

Student Loan Overpayment Explained

Student loan overpayment occurs when you pay off more than the amount you owe to your loan servicer. If you owe $700 on your student loan and make a $850 payment, you’ve overpaid by $150.

This might happen for a couple of reasons.

•  You might send an extra payment before your loan servicer has processed your previous one. It may take some time for your payments to be reflected in your account. If you send the extra payment before the servicer has applied your last payment, you could end up overpaying your loan balance.

•  Overpaying loans can also happen when you refinance student loans. When you refinance, your new loan provider will pay back your old loan balances. Specifically, it will send the amount that’s agreed upon when you sign the Truth in Lending (TIL) Disclosure, which is one of the documents you must sign to finalize your loan refinance.

If you make a payment on your old loans after you’ve signed the TIL Disclosure but before your new refinancing provider has disbursed the payment, the amount sent to your old servicer will exceed your balance. Your new lender will have paid off your old loan and then some, resulting in a student loan overpayment.

That’s not to say that you shouldn’t keep paying back your student loans while you’re waiting for refinancing to go through. In fact, it’s important to keep up with repayment so you don’t miss any due dates when it’s time to pay back student loans. Otherwise, you could end up with a negative mark on your credit report. Wait until your new refinanced student loan is up and running before you stop paying your old student loans. Any overpayment that may have been made can be resolved after that time.

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What Happens When a Student Loan Is Overpaid?

There are a few things that can happen when there are overpaid student loans. For one, a loan servicer might send the extra payment back to you via check or direct deposit.

If a refinancing provider overpaid your account, your old servicer might send the payment back to them. Then, the refinancing lender could send you back the payment or apply it toward your new, refinanced student loan.

Refund Process and Timelines

Let’s say, for instance, after using a student loan refinancing calculator, you’ve decided to refinance your federal student loans with a private lender. You understand that your new refinanced loan means you forfeit federal benefits and protections, and you know that if you refinance for an extended term, you may pay more interest over the life of the loan. If the new private lender sends an overpayment to your existing loan servicers, those servicers will generally return the extra amount to the private lender. The lender will then typically apply that overpayment retroactively to the principal balance on your new refinance loan, a process that may take about six to eight weeks.

In some cases, your old servicer will send the payment back to you. For example, a lender might send a refund to the borrower directly if the overpaid amount is less than $500. In this case, the amount might be sent back to you via check using the address the loan servicer has on file.

You can also receive the refund as a direct deposit, but you may need to request it specifically. Reach out to your loan servicer to find out how it deals with excess payments and any steps you need to take to receive your student loan refund.

How Overpayment Affects Loan Balance and Interest

Unless you’ve specified otherwise, a student loan overpayment that is not returned to you may be applied toward the interest on the student loan rather than the principal balance. However, applying more money toward the loan balance is what reduces the amount of interest that accrues and helps you end up paying less total interest on the loan overall.

An overpayment could also be applied to your next loan payment, which typically goes toward the future interest on the loan rather than the principal.

You can contact your lender to instruct them that you want any overpayments to be applied to the principal of your loan.

Recommended: Student Loan Consolidation

What Should I Do With My Refund?

Finding out you overpaid your student loans can result in a windfall of cash. You may be wondering what to do with your student loan overpayment refund once you receive it. Here are a few options to consider.

Put Toward Next Payment

You could put the refund toward the next payment of your loan to help pay it down faster. After all, you’ve already designated that cash for a student loan payment anyway, so you may not miss having it in your bank account.

Use For Personal Expenses

Another option is to use the refund to cover personal expenses such as rent, groceries, transportation, or other daily living expenses, or for paying down high-interest debt, like credit card debt. Covering costs like these might be a priority over prepaying your student loans.

Reapply Toward Loan Principal

Putting the overpayment toward the principal balance of your loan could help you pay your student loan off early and save on interest charges. Let’s say, for example, that you owe $5,000 at a 7.00% interest rate with a five-year repayment term. If you make an extra payment of $500, you’ll get out of debt eight months sooner and save $292 in interest.

You can calculate your student loan payments and then see how much you might save by making extra payments. If you choose this route, instruct your loan servicer to apply the extra payment to your principal balance, rather than saving it for a future payment.

Build or Replenish Emergency Savings

It’s useful to have an emergency fund on hand with at least three to six months’ worth of living expenses that you can draw on if you lose your job or encounter unexpected costs. Funneling that student loan refund into an existing emergency fund, or starting a fund if you don’t yet have one, could help save the day if you run into financial hardship.

How to Avoid Future Overpayments

Rather than dealing with student loan overpayment after the fact, you can take steps to avoid it moving forward. These strategies can help.

Monitor Loan Servicer Activity

Log into your account on your loan servicer’s platform regularly to make sure your payments are being applied correctly. Open and read all communications from your servicer, including emails and those sent via snail mail, and carefully review all your loan statements each month. If you spot an overpayment, make sure it was applied to the balance. If it wasn’t, contact your loan servicer to remedy the situation.

Set Up Automated Payment Controls

Log into your online account on your servicer’s website and set up automated payment for your student loans. (As a bonus, doing this may also give you a small discount on your loan’s interest rate.) Along with the payment date and amount, specify how you want your payments to be applied, including any overpayments that are made. And again, review your statements and check your account to make sure the payments are being applied the way you want them to be.

The Takeaway

Overpaying student loans may be an inconvenience, but don’t worry about losing that money — you’ll typically get it back in the form of a refund or a payment toward your student loan. The exact process may vary by lender, so reach out to yours to find out what will happen next and whether there are any steps you must take to get your refund. Ensure that your loan servicers have your current address on hand, too, in case they need to mail you a check.

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

What happens if you overpay a student loan?

If you overpay a student loan, your servicer will generally issue a refund. That refund may go to you or, in the case of refinancing, to the third-party servicer that issued the payment. The exact process may vary by lender, so get in touch with yours to find out where it will send your refund.

What happens to excess student loan money?

When you borrow a student loan, the lender usually sends the amount directly to your financial aid office, which then applies it to required expenses like tuition and fees. It then sends any excess funds to you so you can use the money on books, supplies, living expenses, and other education-related costs. If you find you borrowed more than you need, you could consider returning the amount to your lender. If you return part of a federal student loan within 120 days of disbursement, you won’t have to pay any fees or interest on the amount.

Does refinancing affect student loan forgiveness?

Refinancing student loans can affect your eligibility for loan forgiveness. Most loan forgiveness programs are federal, and when you refinance federal loans with a private lender, you lose access to federal programs, such as Public Service Loan Forgiveness and Teacher Loan Forgiveness.

Can I request a refund of my student loan overpayment?

Yes, you can request a refund of a student loan overpayment. Reach out to your loan servicer and ask to have the overpayment amount refunded to you. Be sure to specify how you would like the refund — via direct deposit or a check that’s mailed to you.

Does overpaying help pay off loans faster or reduce interest?

Overpaying your student loans may help you repay your loans faster and reduce the interest rate as long as the overpayment is directed to the principal balance of the loan. Reducing the principal will reduce the amount of interest you owe. It can also help shorten your loan term.


Photo credit: iStock/stefanamer

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).

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

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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


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

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

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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Top Cosmetology Scholarships in 2026

Cosmetology scholarships can be a game-changer for students who want to pursue their passion for hair, makeup, or skincare but worry about the cost. Scholarships are free money for your education, and you do not need to pay them back.

Cosmetology school costs can range quite a bit, but most programs cost less than $20,000. That’s still a significant amount of money, especially if you’re just starting out. Fortunately, cosmetology scholarships are out there to help lighten the financial load.

To help you offset the costs, here are some of the top cosmetology scholarships in 2026 and where to find them.

How to Find Scholarships for Cosmetology Students

When searching for scholarships for cosmetology school, there are plenty of resources available, including:

•   Free scholarship search tools, such as SoFi’s Scholarship Search Tool

•   High school guidance counselors

•   The financial aid office at your college or career school

•   Local resources, like libraries, businesses, and community groups

•   Nonprofits like the Professional Beauty Association

•   Your employer or your parents’ workplace

•   Professional organizations in your field of interest

How to Qualify for Cosmetology Scholarships

Every cosmetology scholarship has unique eligibility requirements, so make sure to review them carefully before applying.

Requirements might include things like:

•   Maintaining a minimum GPA

•   Completing a certain amount of community service

•   Being a U.S. citizen

•   Planning to enroll (or being enrolled) in an accredited cosmetology program

•   Demonstrating leadership skills or potential

•   Providing letters of recommendation

•   Submitting your resume

•   Submitting the FAFSA® (Free Application for Federal Student Aid)

Top Cosmetology Scholarships

Here are some top cosmetology scholarships to help you fund your education so you can kick-start your beauty career.

Buy-Rite’s Annual Beauty School Scholarship

Scholarship amount: $1,000

Application deadline: November 1

Buy-Rite’s Annual Beauty School Scholarship is a $1,000 scholarship for cosmetology and barber students who best embody Buy-Rite Beauty’s core values. To apply, you must submit an essay detailing your most meaningful achievement and explain how it relates to your future career in cosmetology.

Great Clips Great Scholarship Program

Scholarship amount: Up to $5,000

Application deadline: March 1

The Great Clips Great Scholarships Program is for future stylists and barbers in the U.S. and Canada, offering up to $5,000 to help launch their careers. To apply, answer the question, “What is exciting to you about a career in the cosmetology or barbering industry? Why?”

Beauty & Wellness Professionals Scholarship

Scholarship amount: $2,500

Application deadline: March 1

BeautySchoolDirectory.com offers a $2,500 Beauty & Wellness Professionals Scholarship twice a year for students and professionals passionate about making a difference in beauty and wellness. It’s open to both U.S. residents and international students. To be considered, you must submit a three-minute video answering one of the prompts on the application.

The Rosy Rewards Scholarship

Scholarship amount: $250

Application deadline: October 1

The Rosy Rewards Scholarship, offered by Rosy Salon Software, awards two $250 scholarships each year to cosmetology students who are passionate about the industry. To qualify, you must be enrolled in a cosmetology, barber, or esthetics program, and submit a letter of recommendation, resume, and two of your best pictures to showcase your skills.

The Joe Francis Haircare Scholarship

Scholarship amount: $3,000 or more

Application deadline: June 1

The Joe Francis Haircare Scholarship is a $3,000 scholarship (or more) that supports students pursuing a career in the beauty industry. To apply, you must fill out the application and submit two letters of recommendation.

Elevate Your Education Scholarship

Scholarship amount: $1,400 value

Application deadline: March 1, July 1, November 1

Elevate your education with Dermalogica offers scholarships to support passionate and talented new skincare professionals. These scholarships cover the cost of either the Expert Program or the Product Expert Program workshops, valued at over $1,400.

Sallie Mae Scholarship

Scholarship amount: $2,000

Application deadline: December 31

The Sallie Mae Scholarship Sweepstakes awards $2,000 to U.S. beauty students who are over 17 years old. A sweepstakes scholarship is a random drawing where winners are picked by chance, giving every eligible student an equal shot at the award.

SoFi Scholarship Giveaway

Scholarship amount: $2,500

Application deadline: Monthly

The SoFi Scholarship offers students a chance to win $2,500 every month through a sweepstakes. It’s an easy, monthly drawing that can provide some extra financial support for your education.

Recommended: How to Pay for College

Can You Get a Federal Student Loan for Cosmetology School?

Yes, as long as your cosmetology program is accredited, you can apply for federal student loans and other types of aid. To check if your school is accredited, you can use the Database of Accredited Postsecondary Institutions and Programs or just call the school directly.

Federal aid includes grants, work-study, and federal student loans. To find out what aid you qualify for, complete the Free Application for Federal Student Aid (FAFSA®). The FAFSA for the 2026-27 academic year will be available to all students on or before December 1, 2026.

How to Make Money While in Cosmetology School

While it’s important to prioritize your schoolwork, you can still find money-making opportunities that fit into your busy schedule. Options for making money while in cosmetology school include:

•   Find a full-time or part-time job. There are numerous jobs for students to make money during school. For example, you may consider working at a salon as an assistant or receptionist. By choosing a job within your field of study, you can earn money and gain hands-on experience.

•   Start a side hustle. If a flexible gig is more your style, think about ways to generate income in your free time, like driving for Uber, delivering food, or offering freelance beauty services for events. With a side hustle, you can usually set your own hours, allowing you to work around your cosmetology school schedule.

•   Offer your services to friends and family. Providing haircuts, manicures, and makeup services to people you know is another good way to make money and build your experience.

•   Start a beauty YouTube channel. If you love sharing beauty tips, consider starting a blog or YouTube channel. You can create tutorials, conduct product reviews, and feature other content so you can grow your audience and earn money through sponsorships and ads.

The Takeaway

If you’re looking for ways to pay for cosmetology school, applying for cosmetology scholarships can be a good option. While some scholarships are competitive, many others go unclaimed each year. It’s always worth it to apply since it doesn’t cost you anything and may significantly lower your out-of-pocket expenses.

You can also consider exploring other ways to cover college costs to find what works best for you. Options include cash savings, 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

When should I start applying for cosmetology scholarships?

When it comes to applying for cosmetology scholarships, the earlier you start, the better. Applying early gives you access to more opportunities and helps you avoid that last-minute rush. It might feel a bit overwhelming at first, but starting early makes the whole process much more straightforward.

Can I get a scholarship for cosmetology school?

There are many scholarship opportunities available for students pursuing a career in the beauty industry. Whether you’re just starting or already enrolled, you can find scholarships tailored to support aspiring cosmetologists, estheticians, and other beauty professionals.

Does the FAFSA cover cosmetology?

If you’re enrolled in an accredited cosmetology school, you might qualify for federal financial aid by filling out the FAFSA. This can help cover tuition, fees, and other expenses, so it’s worth applying to see what kind of funding you can receive.


About the author

Ashley Kilroy

Ashley Kilroy

Ashley Kilroy is a seasoned personal finance writer with 15 years of experience simplifying complex concepts for individuals seeking financial security. Her expertise has shined through in well-known publications like Rolling Stone, Forbes, SmartAsset, and Money Talks News. Read full bio.



Photo credit: iStock/Sergey Pakulin

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

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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


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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Best Scholarships for High School Juniors: Class of 2026

With average annual tuition and fees reaching $11,260 for in-state students at public four-year colleges and $41,540 for private universities, covering college expenses can feel overwhelming. Scholarships for high school juniors may be just what you need to make college more affordable.

Whether you’re aiming for a four-year university or a community college, there are plenty of scholarships designed specifically for high school juniors in the class of 2026. Unlike student loans, scholarships are free money for college and don’t need to be paid back.

Keep reading to learn about some of the best scholarships available for high school juniors and how they can help you take that next step toward your college career.

Key Points

•   Scholarships can help high school juniors reduce college costs without needing repayment.

•   Merit-based awards often require strong academic performance, leadership roles, or community service.

•   No-essay scholarships, like sweepstakes and video-based awards, are easier to apply for but highly competitive.

•   Top scholarships include the United States Senate Youth Program, Voice of Democracy, and Create-a-Greeting Card Contest.

•   Applying early and to multiple scholarships increases the chances of receiving financial aid for college.

How Do I Qualify for High School Junior Scholarships?

To qualify for scholarships as a high school junior, start by maintaining strong academic performance, since many scholarships are merit-based and require a minimum GPA.

Research scholarships that match your interests, background, or intended college major. You should also try to participate in extracurricular activities, leadership roles, and community service, which are often key factors for many scholarship applications.

Some scholarships may also consider financial need, requiring you to submit the Free Application for Federal Student Aid (FAFSA). Additionally, sign up and prepare for standardized tests like the SAT or ACT, because scores can be a qualifying factor for many awards. Keep deadlines in mind and apply early.

Recommended: What Types of Scholarships Are There?

How to Find Scholarships for High School Juniors

While you’re completing your junior year, there are plenty of resources to help you find scholarships, including:

•   The financial aid office at the college or career school you’re considering

•   Organizations and professional groups connected to your interests

•   Federal agencies that offer financial aid

•   Free scholarship search tools, like the Scholarship Search Tool by SoFi

•   Local organizations, such as libraries, businesses, nonprofits, and other community groups

It’s important to understand that not all scholarship opportunities are legitimate. For example, it’s probably a red flag if someone asks you to pay to apply or find scholarships. Remember that you should never have to pay to enter a scholarship, so it’s best to avoid those kinds of offers.

What Is the Easiest Scholarship to Get in High School?

While some scholarships require a good amount of work, like writing essays or gathering recommendation letters, others are much easier to apply for. For example, no-essay scholarships are often the easiest to apply for because they typically have minimal requirements, such as being a certain age.

There are two main types of no-essay scholarships: sweepstakes and video scholarships. With sweepstakes scholarships, you don’t typically need to submit grades, test scores, or essays. Instead, you might just need to fill out a short form, provide some basic information about yourself, or answer a few questions.

Keep in mind that since these scholarships are easier to apply for, there’s often more competition, which can lower your chances of an award. Even though junior year is busy, it’s a good idea to apply to as many as you can to boost your chances of receiving a no-essay scholarship.

On the other hand, video scholarships require you to create something, like a five-minute video explaining why you deserve an award. For some, this may be easier than writing an essay and gives you a different way to showcase your strengths.

Recommended: Enter SoFi’s Scholarship Giveaway for $2,500

Best Scholarships for High School Juniors

Here are some of the best scholarships for high school juniors to apply for in 2026 and 2027:

1. United States Senate Youth Program

Award: $10,000

The United States Senate Youth Program (USSYP) is open to high school juniors and seniors interested in a career in public service. Applicants must demonstrate leadership skills by serving in an elected or appointed role, such as student government, education, public affairs, or community service.

2. G2 Overachievers Student Grant

Award: $15,000

The G2 Overachievers Student Grant is for middle and high school honor roll students between the ages of 13 and 19. To apply, you must submit a 1,000 to 2,000 word handwritten essay about how you (or the person you’re nominating) are making a difference in your community and deserve to be recognized for it.

3. The Christophers High School Poster Contest

Award: $1,000

U.S. high school students, from freshmen to seniors, can enter the Christophers 35th Annual Poster Contest. To apply, simply create a poster featuring the phrase “You can make a difference” and illustrate how one person can positively impact the world.

4. Create a Greeting Card Scholarship Contest

Award: $10,000

The Create-a-Greeting Card Scholarship Contest is open to all U.S. high school and college students that are 14 years and older. To enter, simply create an original greeting card design. Your design can be a Christmas card, holiday card, birthday card, or an all-occasion greeting card.

5. Voice of Democracy Scholarship Competition

Award: $35,000

High school students can win the Voice of Democracy award by submitting a three- to five-minute audio essay on the topic “Is America Today What Our Forefathers Imagined?” The Veterans of Foreign Wars (VFW) also offers other scholarships, with awards ranging from $1,000 to $21,000.

6. We the Future Contest

Award: $2,000 – $5,000

High school students starting in freshman year can win the We the Future Contest by creating a 500-700 word essay, song, STEM project, short film, social media video, or public service announcement (PSA) on a Constitution-related topic.

7. Carson Scholars Fund

Award: $1,000

The Carson Scholars Fund is for students in grades four through 11 who do well in school and are committed to making a difference in their communities. To apply, you need a GPA of at least 3.75 and must show a strong commitment to community service.

Carson Scholars Fund

8. International Public Policy Forum (IPPF)

Award: $10,000

The Brewer Foundation and New York University (NYU) offer the International Public Policy Forum award to teams of at least three students from the same school. As a team, you’ll write a 3,000-word essay on “Resolved: Equitable access to pharmaceuticals should be prioritized over protecting intellectual property rights.” The top 64 teams will move to a written round, and the top eight teams will compete in a final oral debate.

Recommended: How to Pay for College

The Takeaway

Kicking off your scholarship applications during junior year gives you a head start and helps you find more options to pay for college. The more scholarship money you earn, the less you’ll need to pay in tuition and other expenses.

In addition to scholarships, students can pay for college with cash savings, 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

Should you start applying for scholarships as a junior?

Even though your junior year is a good time to apply for scholarships, you don’t need to wait until then. You can start anytime in high school, which gives you a jumpstart and can open up more scholarship opportunities.

What is the youngest age you can get a scholarship?

You might be able to find scholarship opportunities for kids as young as the age of four. While this may seem a tad early, starting as soon as possible gives you more time to plan for future college costs.

What are the most sought after college scholarships?

Some of the most sought-after scholarships include The Gates Scholarship and the Coca-Cola Scholars Program. However, these popular scholarships are usually available only to high school seniors and can be pretty competitive. So, to increase your chances of winning, it’s a good idea to apply for a mix of different scholarships.


About the author

Ashley Kilroy

Ashley Kilroy

Ashley Kilroy is a seasoned personal finance writer with 15 years of experience simplifying complex concepts for individuals seeking financial security. Her expertise has shined through in well-known publications like Rolling Stone, Forbes, SmartAsset, and Money Talks News. Read full bio.



Photo credit: iStock/shapecharge

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

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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


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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Top No Essay Scholarships in 2026

Applying for scholarships can be overwhelming, especially if you’re required to submit multiple forms and write in-depth essays. However, there are scholarships out there that do not require you to write any essays. Some just ask for basic info, while others might let you submit a video instead.

Keep reading to learn more about the top no-essay scholarships for 2026 and how you can apply.

Key Points

•   No-essay scholarships typically require minimal effort, often needing only basic personal information, making them quick and easy to apply for.

•   These scholarships are available for various education levels and fields, offering opportunities for high school, college, and graduate students.

•   Many no-essay scholarships have monthly or recurring deadlines, allowing students to apply throughout the year.

•   Most no-essay scholarships have broad eligibility criteria, making them accessible to a wide range of applicants.

•   In addition to no-essay scholarships, students can apply for traditional scholarships and grants. Other ways to pay for college include savings, federal student loans, and private student loans.

What Are No Essay Scholarships?

As the name suggests, no-essay scholarships do not require you to write an essay. You typically just need to fill out some basic information about yourself to enter. However, some no-essay scholarships might ask for a video, photo, or other creative entry instead.

Standard scholarships usually come with more hoops to jump through. For example, some may require you to have a specific GPA, provide letters of recommendation, and/or write an essay. No-essay scholarships can give you a break from all that while providing an alternative way to receive extra money for school.

It’s important to note that since this type of scholarship is usually more straightforward to apply for, no-essay scholarships often attract more applicants. Therefore, you may have more competition for the scholarship money.

Recommended: SoFi’s Scholarship Search Finder

How Can I Increase My Chances of Winning a No Essay Scholarship?

No-essay scholarships can be an easy way to get free money for school, but it’s important not to rely on them completely. Since they’re so simple to apply for, they attract a lot of applicants, which means more competition.

To improve your chances, try applying every time a no-essay scholarship opens up, whether it’s monthly or quarterly. Some even let you submit a video, which can help you stand out with a little extra effort and creativity.

It’s also smart to apply for a mix of scholarships and other financial aid options, not just no-essay ones. You can think of no-essay scholarships as a quick and easy break from the more time-consuming applications.

Recommended: How to Pay for College

Is There a Good Time to Apply for a No Essay Scholarship?

No-essay scholarship application deadlines vary — there’s no set “season” like there is for college and FAFSA deadlines. Each scholarship has its own timeline, so it’s important to keep an eye out throughout the year.

Whether or not a scholarship requires an essay, it’s a good idea to start applying as early as possible. For high school students, the summer between junior and senior year is a great time to begin. Remember, the more applications you send out, the better your chances of winning scholarship money.

If I Win a No Essay Scholarship, What Can the Funds Be Used For?

No-essay scholarships may have set rules for how you can spend your scholarship award, similar to how colleges and scholarship programs have specific application requirements.

Generally speaking, scholarship funds are meant for college expenses like tuition, fees, textbooks, and school supplies. However, some independent scholarships are more flexible and might let you use the money for things like housing, meal plans, or even technology.

Keep in mind that your scholarship might not cover expenses like transportation, groceries, off-campus dining, and clothing. And if you have any money left over, it’s a good idea not to spend it on unrelated expenses.

Sometimes, you may need to repay your award money if you use it on unrelated costs. Make sure to review the scholarship rules and guidelines before deciding how to use your scholarship money.

Types of No Essay Scholarships

There are usually two types of no-essay scholarships available for students: sweepstakes and video scholarships.

Sweepstake Scholarships

A scholarship sweepstakes is a type of no-essay scholarship where winners are chosen randomly, much like a lottery. As long as you meet the basic requirements and apply on time, you have a chance to win money to put toward your higher education costs.

Most of these scholarships don’t require extra materials, like transcripts or letters of recommendation, and many are awarded monthly or several times a year.

Keep in mind, though, that you often need to enter each month to stay eligible. So don’t just submit once and forget about it. Setting a reminder in your calendar can help you stay on track and improve your chances.

Recommended: Enter SoFi’s Monthly $2,500 Sweepstakes

Video Scholarships

Not all no-essay scholarships are entirely hassle-free. Instead of writing an essay, you might need to create and edit a five-minute video, which can take just as much time.

Choose the type of scholarship that plays to your strengths. If making videos is your thing, go for it. If writing is more your style, stick with that. Many scholarships offer flexibility in how you choose to express yourself.

Top No Essay Scholarships 2026

Here are a few top no-essay scholarships you can apply for in 2026.

“Be Bold” No Essay Scholarship

The “Be Bold” No-Essay Scholarship is a $25,000 award for students of any education level, field of study, state, or GPA. It’s an easy scholarship to apply for and the winner is the one who creates the “boldest” profile — one that is earnest, determined, and moving.

Project Yellow Light Hunter Garner Scholarship

The Project Yellow Light Hunter Garner Scholarship is an $8,000 award open to high school and college students who create a winning video that discourages distracted driving, especially phone use while driving. Project Yellow Light also offers a $2,000 scholarship for a radio competition and another $2,000 scholarship for a billboard competition.

Elks National Foundation Legacy Awards

The Elks National Foundation Legacy Awards is a $4,000 scholarship for high school seniors who are children or grandchildren of living Elks members or Lodge charter members (including stepchildren and legal wards).

Edvisors Scholarship

Edvisors Scholarship is a monthly, $1,000 scholarship open to students who are at least 17 years old and planning to attend or currently attending college in the U.S. Bookmark the page so you can come back each month and enter.

Niche No Essay Scholarship

The Niche No-Essay Scholarship allows high school and college students to apply for a chance to win $25,000 toward college expenses. Niche offers many additional scholarships you can look into, as well.

CampusReel Scholarship

To sign up for the CampusReel $2,000 no-essay scholarship, students must watch one student-led virtual tour, and then simply provide their name and email address.

SoFi Scholarship Giveaway

Enter SoFi’s monthly scholarship for a chance to win $2,500. This sweepstakes scholarship is for students over 17 enrolled or accepted in a college or university.

Sallie Mae College Scholarship

Sallie Mae also offers a $2,000 sweepstakes scholarship that’s awarded monthly and is open to high school juniors, seniors, and all college students.

Smart Owl No Essay Scholarship

The Smart Owl No-Essay Scholarship is a $1,000 award given out each month to four students. It is open to U.S. residents who are high school or college students aged 16 and older.

The “No Sweat” Scholarship

The Cirkled In “No Sweat” Scholarship is a $2,500 cash scholarship that’s open to students aged 13 and older. The application is quick and easy, taking just two steps to enter and complete your portfolio.

Who Can Apply for No Essay Scholarships?

Almost anyone in school can usually apply for no-essay scholarships. Whether you’re in high school, working on your undergrad, or even pursuing a graduate degree, there are options available for you.

For example, the Sallie Mae Scholarship is open to students at all levels. Plus, Sofi offers $2,500 no-essay scholarships to students every month.

Are Video Scholarships Easier to Apply for Than No Essay Scholarships?

With the rise of platforms like Instagram, YouTube, and TikTok, creating videos might feel more natural than writing essays. However, they may require more effort in planning, filming, and editing compared to no-essay scholarships.

But keep in mind, some video submissions may require a script, so a little writing could still be a part of the process. Writing a script can be similar to writing an essay — it might take a few tries to get it just right. That said, it can be a fun and creative alternative.

Do I Have to Be in College to Apply for a No Essay Scholarship?

You don’t have to be in college to apply for no-essay scholarships. In fact, starting your search early can improve your chances of winning. Some scholarships are even open to middle school students, so it’s never too soon to begin. Ideally, you should start exploring your options as early as freshman year of high school.

If you’re already in college, don’t worry. There are still plenty of scholarships you can apply for as long as you haven’t graduated.

The Takeaway

If you’re running low on financial aid for the school year, applying for no-essay scholarships can help cover some of your college costs. Some are like sweepstakes and pop up every month, so the more you apply, the better your chances. Others might need a bit more effort, like a video entry. Even though the award amounts might be small, the applications can be quick and give you a break from writing essays.

In addition to no-essay scholarships, you can apply for regular scholarships, grants, federal student loans, and private student loans. A combination of these, in addition to cash savings, can be used to cover the cost of college.

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


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 current college students apply for no essay scholarships?

Yes, no-essay scholarships are usually open to all students, from high school students up to graduate students. Whether you’re an undergrad or working toward a graduate degree, there are plenty of no-essay scholarship opportunities available to you.

Can you get scholarships without essays?

Yes, you can get scholarships without writing essays. No-essay scholarships typically require you to share some basic personal information, and sometimes you might have the choice to submit a video instead of an essay.

Has anyone actually won a no essay scholarship?

Students win no-essay scholarships all the time. However, keep in mind that some require exceptional talent, while others act more like sweepstakes contests with fewer requirements but more competition.


About the author

Ashley Kilroy

Ashley Kilroy

Ashley Kilroy is a seasoned personal finance writer with 15 years of experience simplifying complex concepts for individuals seeking financial security. Her expertise has shined through in well-known publications like Rolling Stone, Forbes, SmartAsset, and Money Talks News. Read full bio.



Photo credit: iStock/yasindmrblk

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

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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


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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15 Seasonal Jobs for College Students in 2026

College students are uniquely positioned to take advantage of seasonal jobs since they tend to have summers off from school and long holiday breaks. This gives them the opportunity to earn extra money for college and get some hands-on work experience to put on their resume.

Whether you’re looking for a job that lets you earn as much money as possible to help pay your college expenses, or a position that’s in the same field as your studies, there are a variety of seasonal jobs for college students that may be right for you.

Read on to learn more about the best seasonal jobs for college students.

Key Points

•   Seasonal jobs offer college students income and work experience, and can help them pay expenses and build a resume.

•   Job opportunities include virtual assistant, social media marketer, tutor, lifeguard, and landscaper, with varying pay rates.

•  Winter jobs like professional driver, warehouse worker, and snow remover provide income during cold weather months.

•   Jobs such as pet sitter, babysitter, and summer school teacher are ideal for college students during the summer.

•   Holiday jobs in retail and gift wrapping offer flexible work opportunities during the school break.

Why Is It Important for College Students to Find a Seasonal Job?

Landing a seasonal job as a college student is crucial for a number of reasons. First, it can give you income to pay your bills, including college expenses. You might even want to start paying the interest that accrues on some of your student loans while you’re in school, including your private student loans.

Along with paying for a college degree, other reasons for college students to get a seasonal job include gaining work experience, developing skills to put on your resume, and getting the chance to network and meet working professionals who may be helpful to you when you’re looking for a full-time job after graduation. A seasonal job can also teach you things like time management, effective communication, and how to collaborate with others.

Along with paying for a college degree, other reasons for college students to get a seasonal job include gaining work experience, developing skills to put on your resume, and getting the chance to network and meet working professionals who may be helpful to you when you’re looking for a full-time job after graduation. A seasonal job can also teach you things like time management, effective communication, and how to collaborate with others.

What Are the Best Seasonal Jobs for College Students?

Here are some of the best seasonal jobs for college students based on such factors as wages, job availability, and the skills required.

Virtual Assistant

Virtual assistants are remote administrative contractors who assist businesses with a wide range of duties, including administrative support, customer service, social media management, email marketing, bookkeeping, data entry, research, transcription, and content or website management. Because these jobs are virtual, college students can do them no matter where they live.

Average pay: $7.21 to $62.74 an hour

Social Media Marketer

In this position, college students are employed by a company to use social media platforms such as Facebook, Instagram, and TikTok to promote the company. They might work on projects to reach new customers, engage with current customers, and announce new services and products. Their day-to-day tasks could range from writing posts, optimizing performance, and responding to comments and messages, to helping to plan the company’s social media marketing strategy.

Average pay: Approximately $26.18 per hour

Tutor

Working as a tutor can be a natural fit for those in college. You can connect with other students and help them learn by explaining information in a way that’s relatable to them.

You can find work as a tutor by advertising your services at your college, getting a job at a local learning center, or signing up with campus tutoring services. You could also join an online tutoring platform like Tutor.com.

Average pay: $7.25 to $43.40 per hour

Recommended: Student Debt by Major

Winter Seasonal Jobs for College Students

Wintertime offers some special seasonal jobs for college students to do part-time and help pay for college. These are some options to consider.

Professional Driver

Becoming a professional driver, such as a delivery truck driver, can be a lucrative job for a college student. To become a professional driver who drives a delivery truck, however, you will first likely need to obtain a commercial driver’s license. In the training you’ll learn technical driving skills, safety procedures, and federal and state regulations, and get track-driving practice.

You can also be considered a professional driver if you drive to earn money for a ride share company or do food delivery. These jobs usually don’t require a commercial license.

Average pay: $26.12 per hour for a professional driver with a commercial license; $14.42 to $20.19 for rideshare drivers

Warehouse Worker

Warehouse workers pack and ship orders, and manage, organize, and retrieve warehouse materials. They might also transport merchandise from distribution centers, and identify missing, damaged, or lost merchandise. Some warehouse workers may need a forklift license and the ability to lift heavy objects.

Average pay: $17.81 per hour

Snow Remover

If you’re willing to shovel snow or you have a vehicle such as a pickup truck or an SUV that you can use for snow plowing, you may want to consider a snow removal job. You can put up posters advertising your services in town, or you can approach local companies to see if they need snow plowing help. You might also be able to get a job working for a local snow plowing business.

Average pay: $50 to $204 per snowfall

Resort Jobs

In the winter, there are often jobs available at ski resorts, spas, and lodges. You might find employment as a room attendant, front desk clerk, food server, bellhop, and more. Check with resorts in your area to see what’s available

Average pay: Earnings vary depending on the job; room attendants earn $18.25 per hour.

Food Service Worker

Colleges frequently need food service workers for cafeterias, cafes, and coffee shops on campus. Some of these positions may be work-study jobs, which are a type of federal financial aid. To qualify, you must submit the Free Application for Federal Student Aid (FAFSA) and receive work-study money as part of your financial aid award.

Aside from work-study food service jobs, you can look for positions in the food industry at local restaurants and brew pubs. These jobs may be fairly plentiful in college towns, which often have a number of different dining establishments.

Average pay: $17.52 per hour

Seasonal Summer Jobs for College Students

Whether you stay at college in the summer or go back home you will likely have about three months to devote to a summer job.

Pet Sitter

If you love animals, this could be the perfect summer gig for you. Since summertime is the prime vacation season, you may be able to find many pet-sitting opportunities.

As a pet sitter, you’ll typically go to people’s homes to care for their pets for a set amount of time each day, or even overnight. Tasks include feeding pets, walking dogs, cleaning litter boxes, administering medications, and playing with the pet.

You can alert prospective clients to your services via social media, including Facebook, TikTok, and Instagram. You can also ask around in your neighborhood to see who might need a pet sitter.

Average pay: About $25 for a 30-minute visit, $20 to $30 a day, $45 to $75 per overnight, or $250 to $375 per week

Babysitter

Many parents need help in the summer when their kids are home from school. As a babysitter, you may spend time playing with children, doing crafts with them, feeding them, and taking them to activities like sports practice, doctors’ appointments, and summer camp sessions.

Average pay: Approximately $23.61 per hour for one child

Summer School Teacher

If you are an aspiring teacher who has completed their bachelor’s degree, you could become a summer school teacher in a school district. For such a position, you’ll need your degree plus certification or licensure in your state.

For a somewhat similar but less formal summer school job, you could consider tutoring, working at a summer camp, or getting a position as an assistant in a kids’ arts or music program.

Average pay: $15 to $49 an hour for summer school teachers

Lifeguard

Lifeguarding is a popular job for college students since you get to spend your days at a pool or beach. You must pass a swimming test and undergo a lifeguard training and certification program that usually includes First Aid and CPR/AED training.

Average pay: $13 to $15 per hour

Landscaper

As a landscaper, you’ll do such tasks as plant flowers, mow lawns, prune trees, aerate soil, and fertilize plants and lawns. If you like to be outdoors, you’re able to do heavy lifting and digging, and don’t mind getting dirty, this could be a rewarding summer job for you.

Average pay: $15.94 per hour

Seasonal Holiday Jobs for College Students

On your year-end break from school, you can earn some extra money by getting a seasonal job for college students. Many businesses need additional help during the holidays, and some big companies hire tens of thousands of seasonal employees.

Retail Employee

Retailers often offer some of the best seasonal holiday jobs for college students. Retailers like Dick’s Sporting Goods, Target, Walmart, Macy’s, Bath & Body Works, Kohl’s, and J.C. Penney employ many seasonal workers for the season. Companies like Amazon also offer seasonal jobs, so consider looking there as well.

Average pay: $15 to $24 per hour, though it varies depending on the retailer

Gift Wrapper

If you enjoy wrapping presents for family and friends, why not do it professionally? Many retail stores offer gift wrapping services to their clients, and they’re typically looking for seasonal employees to fill this role. The job typically involves paying attention to detail while working quickly to meet customer demand during the holiday rush.

Average pay: $9 to $17 per hour

Recommended: Student Loan Forgiveness Guide

Other Ways to Pay for College Tuition

In addition to getting a seasonal job, there are a number of other options you can use to help pay for college. The more money you can put toward your college expenses now, the easier getting out of student loan debt later on may be.

First, be sure to fill out the FAFSA for any federal financial aid you might qualify for, including scholarships, grants, and federal student loans. These loans come with specific federal student loan interest rates that can vary from year to year.

You can also look for private scholarships and grants. This type of gift aid may be offered by your state, various organizations, and some businesses. SoFi’s scholarship search tool can help you find different gift aid opportunities.

Another alternative is to take out private student loans. These loans are offered by banks, credit unions, and private lenders. Private student loans have fixed or variable rates, and the rate you may qualify for depends on your credit history, among other factors. You can opt to refinance student loans in the future to get a lower rate or better terms if you’re eligible.

A student loan payment calculator can help you determine what your loan payments might be.

Student Loan Options From SoFi

Getting a seasonal job for college students is one way to help pay for college. Federal financial aid, such as federal student loans, scholarships and grants can also help you cover your school costs. And private student loans can supplement your federal financial aid and help fill in the gaps.

SoFi has private student loan options you can explore, as well as student loan refinancing. With refinancing, you replace your existing loans with a new private student loan, ideally one with a lower rate and more favorable terms. Just be aware that if you refinance federal student loans, you won’t be able to access federal benefits such as income-driven repayment plans.

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.


About the author

Melissa Brock

Melissa Brock

Melissa Brock is a higher education and personal finance expert with more than a decade of experience writing online content. She spent 12 years in college admission prior to switching to full-time freelance writing and editing. Read full bio.



photo credit: iStock/jacoblund

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).

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

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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


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

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.

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