A black credit card is a financial product extending a line of credit to wealthy, high-spending consumers. Colloquial references to a black credit card typically refer to the American Express Centurion Card that launched in 1999. It quickly developed a reputation for being more than a credit card — rather, it became a status symbol of ultra wealth and almost limitless spending power.
Here’s a look at what a black credit card is in detail, how to get one, and the card’s benefits and drawbacks.
Key Points
• Black credit cards are designed for wealthy, high-spending individuals and are typically invitation-only.
• These cards have high fees, such as a $10,000 initiation and $5,000 annual fee.
• Benefits include no credit limit, VIP lounge access, travel perks, and personalized services.
• Qualification requires high income, net worth, and significant spending activity.
• These cards can serve as status symbols but come with high costs and stringent spending requirements.
What Is a Black Credit Card?
A black credit card is an ultra-luxury private banking credit card product that’s designed to support the credit needs of the world’s wealthiest individuals, which can include A-list celebrities, professional athletes, and multi-millionaires. These are individuals who likely spend six figures a year using their credit card.
Although the black credit card meaning was originally derived from the AmEx Centurion Card, it now includes other luxury cards that have since come to the market. The list of exclusive card products include the Dubai First Royale Mastercard and the J.P. Mortgage Reserve Card.
Although the Mastercard Black Card might have the phrase “black card” in its name, it’s more accessible and arguably not in the same caliber as the aforementioned cards. That’s because consumers can submit an application online for this card without first being invited, which is more in line with typical credit card rules.
How Black Credit Cards Work
Unlike other consumer credit cards, the most exclusive black credit cards aren’t available for online applications. Card issuers publish very limited details — if any at all — about how to apply for the card or what it takes to receive an invitation. All of the elusiveness can enhance the allure of black cards.
Aside from their exclusiveness, black cards are generally known for having no credit limit, allowing members to spend freely. However, credit card issuers have already determined who they feel is financially capable of wielding the black card’s limitless buying power.
Specific black credit card requirements and thresholds vary between black card products. However, they generally include the following factors:
• Minimum annual spending
• Income and/or net worth
• Creditworthiness
If you believe that you meet the criteria for a black credit card, you can reach out to the card issuer directly to see if you’re eligible. American Express, for instance, may offer existing members an online form for its Centurion Card for those who want to request consideration.
Worth noting: The Centurion Card is currently said to have a one-time $10,000 initiation fee and an annual fee of $5,000 thereafter.
Whether you’re still learning how credit cards work or are experienced with credit, you likely know that different cards offer varying benefits, including rewards, travel and shopping credits, and more. The perks of a black credit card also differ depending on the type of black card.
For example, the AmEx Centurion Card, offers the following black card benefits:
• VIP airport lounges. Access to AmEx’s Global Lounge Collection, including the coveted The Centurion Lounge.
• Travel accommodation enhancements. Upgraded bookings and credits through AmEx’s Fine Hotels and Resorts program, with 900 hand-selected, iconic properties, and elite status with additional hotel programs.
• Airline loyalty status. Complimentary top-tier status through airline partner loyalty programs.
• Unique experiences. Access to one-of-a-kind travel experiences around the world.
• Travel inconvenience credit. Up to a $2,000 credit per traveler for carrier-related inconveniences, like delays, and up to $10,000 for canceled trips.
• Travel insurance. Up to $100,000 in travel medical assistance, and up to $1 million in travel accident insurance.
• Rental car insurance. Up to $75,000 in car rental loss and damage insurance.
• Saks Fifth Avenue credit. Quarterly $250 shopping credit, up to $1,000 per year.
• Equinox fitness club membership. Access to clubs in multiple countries.
• Additional buying protection. Purchase protection, return protection, and extended warranty for goods purchased on the card.
• Personalized support. Access to personal shoppers and 24/7 personal concierge service.
As noted above, fees, benefits, fees, and spending requirements will vary among different types of credit cards, including those that fall into the ultra-luxury category.
As a card that’s not intended for the masses, the card’s pros and cons highly depend on which side of the eligibility spectrum you fall under. Here’s a closer look at black credit card benefits and drawbacks:
Pros of Using a Black Card
Cons of Using a Black Card
No credit limit
Accessible by invitation only
Status symbol
High initiation and annual fees
Luxury perks
High spending requirement
Tailored service experience
High income requirement
Is a Black Credit Card Worth It?
With a reputation of having excessively high annual fees and high minimum spending criteria, a black card can carry a high price tag. It’s important to consider that you can afford this kind of credit card — that is, assuming you’ve received an invitation in the first place.
Weigh the black card benefits, and consider if you’d actually be using a credit cardin such a way that it would be worth it for your needs.
Black cards are typically reserved for wealthy customers who have demonstrated the ability to spend hundreds of thousands on a credit card and repay that amount with ease. If you’re an everyday consumer or it’s your first time getting a credit card, a pricey black card probably isn’t a practical credit card solution.
Whether you're looking to build credit, apply for a new credit card, or save money with the cards you have, it's important to understand the options that are best for you. Learn more about credit cards by exploring this credit card guide.
🛈 While SoFi does not currently have a black credit card, we do offer credit cards that may suit your needs.
FAQ
What does it mean to have a black credit card?
Being invited as a black card member means that you’ve met the card issuer’s underwriting criteria in terms of having a high income, high net worth, high spending activity, and more. It’s perceived as being a card that’s only accessible to ultra-wealthy individuals.
How much does a black credit card cost?
Black credit card fees vary between card products but often cost hundreds to thousands of dollars in annual fees each month. The AmEx Centurion Card, for example, has a $10,000 initiation fee and a $5,000 annual membership fee thereafter.
Are black credit cards actually black?
Generally, black credit cards are designed with a black color scheme. However, some of these cards that fall into the exclusive black card category aren’t black. For example, the J.P. Morgan Reserve card is made of brass and palladium and has a silver metal finish.
What is the difference between a black card and a platinum card?
The AmEx Platinum Card is more accessible to consumers than the AmEx Centurion Card, also dubbed the black credit card. Members who want to apply for a Platinum Card can do so on their own online, while the black card is offered by invitation only. The requirements and annual membership fees of both cards also vastly differ, with the black category charging higher fees and having higher spending requirements as well as more robust perks.
Photo credit: iStock/Lemon_tm
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.
This content is provided for informational and educational purposes only and should not be construed as financial advice.
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.
College in the U.S. comes at a high cost, with the most expensive colleges in the U.S. charging a whopping sticker price of $90,000 or more.
Not every student pays the same at these high-priced colleges, with many students qualifying for financial aid and/or merit scholarships to lower the cost of attendance.
Below, this guide takes a closer look at the most expensive colleges in the country and how students can make going to college more affordable.
Key Points
• Schools like Columbia University and University of Southern California often have annual costs exceeding $90,000, making them among the priciest in the U.S.
• Expensive colleges typically offer extensive facilities, including state-of-the-art research labs, advanced technology, and premium on-campus housing, which contribute to higher costs.
• High tuition often reflects access to renowned faculty, distinguished academic programs, and low student-to-faculty ratios, enhancing the educational experience.
• Although expensive, these colleges frequently offer generous financial aid packages, making them more affordable for students from various financial backgrounds.
• To pay for expensive colleges, students can rely on grants and scholarships, cash savings, federal student loans, and private student loans.
Overview of U.S. College Costs
The cost of going to college in the U.S. can vary based on the type of institution you attend, the amount of financial aid you receive, and enrollment status.
The average cost of college tuition is lowest for in-state students at public universities and highest for students at private four-year institutions. The schools with the most expensive college tuition are all four-year private nonprofit institutions, including Ivy League schools, liberal arts colleges, and private research universities. But there’s more to college costs than tuition alone.
When comparing colleges, it’s helpful to evaluate the cost of attendance, which includes all the expenses for one year of college, including room and board, books and supplies, transportation costs, and tuition and fees. This is known as the sticker price, and students who qualify for financial aid, such as grants or scholarships, will pay a lesser amount.
Here’s a look at the cost of the most expensive colleges in the U.S.
Getting accepted at any of the eight private colleges in the Ivy League is an achievement. These highly competitive schools also rank among the most expensive tuition colleges in the country.
Harvard University
The total cost of attendance at Harvard University was $82,866 for the 2024-2025 academic year. However, around 55% of accepted students qualified for need-based scholarships from Harvard, which doesn’t include other types of financial aid.
For the 2024-2025 academic year, the cost of attendance at Columbia University is $93,417 for undergraduate students. Around 58% of first-time, full-time undergraduate students at Columbia receive some form of financial aid, including grants and scholarships.
If a student’s family has an annual income less than $150,000, they can receive free tuition to attend Columbia.
The cost of attendance at the University of Pennsylvania totaled $92,288 for the 2024-2025 academic year. However, students living off campus can expect to pay less for room and board.
Note that 46% of undergraduate students received grant-based financial aid during the 2023-2024 academic year, helping reduce the cost of attendance by $68,852, on average. Like other Ivy League schools, UPenn awards financial aid packages based on a student’s family income.
Most Expensive Liberal Arts Colleges
Liberal arts colleges are known for their smaller class sizes and broader curriculum centered on humanities, arts, and sciences. Some of the most elite liberal arts colleges also have some of the most expensive college tuition.
Williams College
The cost of attendance at Williams College is $85,820 for the 2024-2025 academic year. About 52% of Williams undergraduate students receive need-based financial aid.
Amherst College
For the 2024-2025 academic year, the cost of attendance at Amherst College totaled $91,310 for undergraduate students. About 60% of undergrad students receive financial aid from Amherst College.
Swarthmore College
For full-time undergraduate students, the cost of attendance at Swarthmore College is $85,802 for the 2024-2025 academic year. Approximately 52% of undergrads receive need-based financial aid from Swarthmore College.
Most Expensive Private Research Universities
Private research universities are known for advancing academic research alongside teaching students. They tend to offer a wide range of undergraduate majors, plus graduate and doctoral degree programs.
Cutting-edge research facilities and resources come at a cost, though, making these schools some of the most expensive colleges in the U.S.
University of Southern California
The total cost of attendance at the University of Southern California is $95,225 for the 2024-2025 academic year. Note that tuition is the same for both in-state and out-of-state students.
Around two-thirds of undergraduate students receive some form of financial aid, including merit scholarships, need-based aid, federal loans and work-study programs.
Boston University
Boston University undergraduate students enrolled full-time for the 2024-2025 academic year have a cost of attendance of $90,207. First-year students who are permanent residents can expect to get 100% of their demonstrated financial need covered by Boston University.
Northwestern University
For the 2024-2025 academic year, Northwestern University’s cost of attendance is $94,878. More than 60% of undergraduate students receive some financial aid from Northwestern to cover the cost of tuition and other college-related expenses.
Factors Contributing to High U.S. College Costs
The cost of a college education in the U.S. has continued to increase. Between 1990 and 2023, the average cost of attendance at four-year colleges rose from $7,602 to $30,884.
Aside from higher cost of living, there are a few key factors contributing to high college costs — and not just at the most expensive colleges.
College infrastructure, including dormitories, lecture halls, research facilities, athletic facilities, and campus grounds, are expensive to operate and maintain. College tours can play a big role in a prospective student’s decision-making, so investing in campus facilities is a priority for many schools to remain competitive. Student services and amenities on campus, including academic advising, tutoring, counseling, mental health services, and extracurricular events and activities, also impact college costs.
Public universities receive some level of funding from state and local tax revenues, which allows them to offer comparatively lower tuition for in-state students. However, state budgets for public universities have decreased in the majority of states, requiring tuition increases to fill the gaps in funding.
Meanwhile at private nonprofit universities, where costs are typically higher, reputation and selective admissions can contribute to loftier sticker prices.
The rising cost of college can make higher education, especially the most expensive colleges, feel out of reach financially.
Although college costs are rising, students and families can combine multiple funding sources and strategies to figure out how to pay for college.
Financial Aid and Scholarship Options
Students complete the FAFSA (Free Application for Federal Student Aid) to determine if they qualify for any federal student aid, including scholarships, grants, work-study, and loans. This information is typically required to apply for scholarships, including awards from the school you’re attending.
Scholarships and grants represent free money for college that you don’t need to pay back. While colleges with free tuition are not the norm, applying for scholarships and grants can help cover the cost of college and reduce the amount you need to borrow.
Alternative Financing
Students may need to explore additional options to afford going to college. Working part-time or finding jobs that pay for your degree can help with living expenses or secure tuition assistance for college, respectively.
To fill any remaining gaps, students can use private student loans or alternative financing, such as income share agreements. With an income share agreement, students borrow money from their college or a private lender and agree to pay a fixed percentage of their future income for a set period of time.
Cost is a key consideration when deciding where to go to school. However, attending a more expensive college could pay off in the long run.
To understand the value of attending any college, compare the cost of the degree with the expected income once you graduate. Though they can be more expensive, the most prestigious colleges can have higher expected income for graduates due to their academic rigor, networking opportunities, and reputation.
The most expensive colleges in the U.S. have a cost of attendance greater than $90,000 for the 2024-2025 academic year. However, many students receive scholarships and grants to pay less than the sticker price.
Once you’ve decided where you plan to go to college, take the time to consider all the options to help pay for your education, including scholarships, grants, savings, alternative financing, and private student loans.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
FAQ
What is the single most expensive college in the U.S.?
The school with the highest cost of attendance on our list is the University of Southern California at $95,225.
Are expensive U.S. colleges worth the cost?
Expensive colleges can be worth the cost if you’re pursuing a high-earning degree that will provide a strong return on investment.
How do expensive colleges determine pricing?
Expensive colleges base their pricing on student demand, operating costs, and other factors. The cost of attendance is comprised of tuition and fees, room and board, books and supplies, transportation, and other living expenses.
photocredit: iStock/pla2na 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).
This content is provided for informational and educational purposes only and should not be construed as financial advice.
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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.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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If you’re a Native Hawaiian or Pacific Islander student, you may be eligible for a variety of scholarship opportunities. Scholarships for Native Hawaiians and Pacific Islanders offer funding that you can put toward tuition and other college costs.
Unlike student loans, you don’t have to pay back scholarship awards. Finding and applying to these opportunities can be well worth the effort if they bring an otherwise unaffordable school within financial reach. Learn more about your opportunities for Native Hawaiian and Pacific Islander scholarship awards here.
Key Points
• Native Hawaiian and Pacific Islander scholarships aim to increase access to higher education for Native Hawaiian and Pacific Islander (NHPI) students, supporting communities historically underrepresented in colleges and universities.
• Many scholarships focus on students dedicated to preserving and celebrating NHPI cultural heritage, encouraging cultural contributions through their studies.
• Scholarships often support fields like health care, education, and environmental studies to empower NHPI students in professions that benefit their communities.
• Many programs provide mentorship, networking, and additional academic resources to help NHPI students thrive in college and complete their degrees successfully.
• In addition to scholarships, Native Hawaiian and Pacific Islander students can apply for grants, federal student loans, and private student loans to help pay for college.
Native Hawaiian and Pacific Islander Scholarships – Eligibility Requirements
Each scholarship will have its own set of eligibility requirements, so make sure to read the fine print before you apply. Along with being a Native Hawaiian or Pacific Islander, you may also have to meet other criteria, such as:
• Minimum GPA
• History of community service
• Leadership through extracurricular activities
• Achievements in athletics or another activity
• Financial need, as determined by the FAFSA
Scholarships are awarded for all types of reasons, so do your research to find opportunities that are a good match for you.
How to Find Native Hawaiian and Pacific Islander Scholarships
Leave no stone unturned in your hunt for college scholarships. Some resources you can use to find scholarships include:
• Your high school counselor or college financial aid office
• Free scholarship search engines, such as Fastweb, Scholarships.com, Scholarship Search by Sallie, and College Board Scholarship Search
• Organizations and professional associations related to your academic and other interests
• Local businesses and associations, such as the Rotary Club
Make sure to submit the FAFSA, as well, to put yourself in the running for federal financial aid. This aid could include need-based grants for college, as well as work-study and fixed-rate federal student loans. This guide explains more about grants, scholarships, and loan differences.
• Blossom Kalama Evans Memorial Scholarship Fund: You must be a Hawaiian college junior, senior, or graduate student with financial need who attends a university in Hawaii to be eligible for this award. Preference is given to students who major in Hawaiian language or other fields related to native Hawaiian history, culture, and arts.
• Elena Albano “Makaʻalohilohi” Scholarship Fund: This fund is reserved for residents of Maui County who are in recovery from a mental health, behavioral, or psychological disability.
• Ida M. Pope Memorial Scholarship: This award is reserved for Hawaiian women who have a minimum 3.5 GPA and are majoring in a STEM field.
• Ka‘ehu Scholarship Fund: Preference for this scholarship is given to Hawaiian women who identify as LGBT and have a record of community service or athletic involvement.
• Rosemary & Nellie Ebrie Fund: This fund offers scholarships to Native Hawaiian students with financial need who were born on and spent most of their youth in Hawaii.
• Hoʻoulu Scholarship Fund: You could qualify for this award if you’re a Pacific Islander who left college for at least a year and are looking to return to your education.
2. Hawaiian Civic Club Scholarships
Check out your local Hawaiian Civic Club for scholarship opportunities. Some examples include:
• Koʻolaupoko Hawaiian Civic Club: This group offers annual scholarships to students who show they are committed to perpetuating Hawaiian culture, have an acceptable GPA, and have a record of volunteer or community service.
• Prince Kūhiō Hawaiian Civic Club: You may qualify for a scholarship from this club if you have a history of civic engagement and are an undergraduate, graduate, or vocational student.
3. Pauahi Foundation
The Pauahi Foundation provides financial support to people of Hawaiian ancestry. It administers over 400 scholarships for undergraduate and graduate students in a variety of fields. Some of its scholarships are merit-based, whereas others go to students who have financial need or come from a specific region. You can submit a single application on the foundation’s website to be considered for all the scholarship awards it oversees.
4. University Scholarships
There are a variety of universities in Hawaii with scholarships and tuition waivers for local students, such as Chaminade University of Honolulu and the University of Hawai‘i at Mānoa. Check with your college to find out about financial aid opportunities.
5. Asian & Pacific Islander American (APIA) Scholars
Asian & Pacific Islander American (APIA) Scholars provide scholarships between $2,500 and $20,000 to students who identify as Asian American, Native Hawaiian, or Pacific Islander. You must be an undergraduate attending an accredited college or university in the U.S. APIA specifically focuses on students who live at or below the poverty line, are the first in their family to go to college, or belong to an underrepresented ethnicity. APIA also runs an emergency fund that offers emergency grants to scholarship recipients who encounter unexpected financial hardship.
Need-based scholarships go to students with financial need. Scholarship committees often look at your FAFSA to determine your financial need. You can submit this application on the Federal Student Aid website for free. Make sure to submit it every year you’re attending school so you can continue to access financial aid.
If you have financial need, the FAFSA can also connect you to the Pell Grant (worth up to $7,395 in the 2024-25 year), the work-study program, and Direct Subsidized loans.
Merit scholarships are awarded to students who have achieved in academics, athletics, or extracurricular activities. Some colleges offer merit-based awards to entice gifted students to enroll, though you typically won’t find merit-based awards at highly selective colleges.
You can sometimes find scholarships for random hobbies and interests, too. For instance, Duck Brand’s Stuck at Prom scholarship offers up to $15,000 to students who make their prom outfit out of Duck Tape.
Tips for Applying
Scholarship awards can be competitive, but these tips can help you put your best foot forward:
• Apply early and often: Apply to as many scholarship awards as you’re able to, and make sure to get all your materials in ahead of the deadline.
• Read the fine print: Each scholarship award has its own criteria, so read the instructions carefully to ensure you’re fulfilling the application requirements.
• Gather your materials: You often have to provide your transcript and letters of recommendation. Request recommendation letters from teachers, coaches, and other adults whom know you well and can write a personalized letter that highlights your unique strengths.
• Write thoughtful essays: Scholarship applications often ask you to answer essay questions about your future plans and how the award will help you achieve them. Put thought and time into these essays, and make sure to edit your responses before hitting submit.
• Keep applying throughout college: You don’t have to stop applying to scholarships after you graduate high school. There are opportunities out there for current college students and graduate students, so apply year after year to gain this valuable gift aid for college.
The Takeaway
There are a variety of scholarships for Native Hawaiian and Pacific Islander students. Use scholarship search engines, check with local organizations and colleges, and reach out to your school counselor or financial aid administrator to find opportunities.
By applying to scholarships, you can win valuable money for college and potentially reduce the amount you need to borrow in federal 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
Are there scholarships specifically for Native Hawaiian students?
Yes, there are some scholarships specifically for Native Hawaiian students, such as the Blossom Kalama Evans Memorial Scholarship Fund, Ida M. Pope Memorial Scholarship, and Elena Albano “Makaʻalohilohi” Scholarship.
What documents are required to prove NHPI heritage?
Read over the scholarship’s eligibility requirements to find out about any documents you need to provide to prove your NHPI heritage. These might include a passport, state ID, or birth certificate.
Do I need to be a full-time student for NHPI scholarships?
Each scholarship has its own eligibility criteria. Read the fine print to find out if you must be enrolled full-time to qualify for the NHPI scholarship that you’re interested in.
photocredit: iStock/dougberry
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).
This content is provided for informational and educational purposes only and should not be construed as financial advice.
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.
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Scholarships and grants are a form of financial aid that you don’t have to pay back. These monetary awards are based on merit, financial need, or both.
While there are a multitude of scholarships and grants out there open to everyone, many companies, institutions, and organizations offer scholarships specifically created for minorities and underrepresented groups, including the Hispanic community.
Read on for a partial list of scholarships available for Hispanic students, plus helpful tips to give you an edge when applying.
Key Points
• Scholarships and grants for Hispanic students help bridge financial gaps, promoting access to college for a group that remains underrepresented in higher education.
• You can find scholarships for Hispanic students with online scholarship search tools, your college’s financial aid office, or your high school guidance counselor.
• Scholarships are often available for specific fields, like STEM, business, and law, to encourage Hispanic students to enter high-demand professions.
• Programs often offer mentorship, career guidance, and networking opportunities, helping Hispanic students navigate college and post-graduation careers successfully.
• In addition to scholarships, Hispanic students can also pay for college with grants, federal student loans, and private student loans.
Eligibility Requirements
There are many different types of scholarships out there, and with all applications, you’ll need to provide the basics, such as your name, address, and contact information. Additionally, you may be asked your race/ethnicity and gender identity, age or date of birth, and whether or not you’re a U.S. citizen.
Usually, scholarship applications will require a transcript of your grades and/or your grade point average (GPA), your SAT or ACT scores, letters of recommendation, and if the scholarship is need-based, financial information. In this case, you’ll typically need to fill out the online Free Application for Federal Student Aid (FAFSA).
Since scholarships all have their own particular guidelines, taking the time to review them and verify that you meet the criteria is key. Otherwise, you’ll be automatically disqualified.
How to Find Hispanic Scholarships
Fortunately, there are a multitude of available Hispanic scholarships you can access at your fingertips.
One starting point is to use SoFi’s scholarship search tool, which allows you to streamline your search by simply typing “Hispanic” into the keyword field. This mechanism will bring up the name of the award, the amount, provide deadline dates, and let you know if the scholarship is renewable or not.
Two other search tools you can use to pursue Hispanic scholarships are ones offered by Sallie Mae and the U.S. Department of Labor’s CareerOneStop. You can also get information on scholarships for Hispanic students by contacting your college or university’s financial aid office, or if you’re a high school student, consulting your guidance counselor.
Scholarships and grants can be extremely helpful in offsetting the need to take out federal student loans or private student loans, so it’s worth it to apply for as many as you can.
Below is a list of 11 scholarships and grants specifically geared toward Hispanic and Latino students. When applying, be sure to read the eligibility criteria carefully, since some may be catered to very specific people within the Hispanic community; for example, Latina women, Mexican-Americans, or those of Cuban descent.
1. Hispanic Scholarship Fund
Every year, the Hispanic Scholarship Fund (HSF) gives merit-based awards to U.S. citizens, permanent residents, or Deferred Action for Childhood Arrivals (DACA) recipients with Hispanic heritage. Applicants must have plans to enroll full-time in an accredited U.S. four-year university or graduate school in the upcoming academic year. Eligibility requirements include having a minimum 2.5 GPA for undergraduate and graduate students, and a 3.0 GPA for high school students.
HSF awards range from $500 to $5,000 depending on financial need. Students must complete the FAFSA or a state-based financial aid form (if applicable). Deadline is February 15, 2025.
Hispanic Heritage Youth Awards are one-time grants of up to $4,000 that are awarded through the Hispanic Heritage Foundation. The foundation’s Youth Awards honor Latino high school seniors who excel both in school and in their community, and recognize a student’s excellence in various categories including education, public service and social justice, technology, health care and science, and more. Applicants must plan to enroll at an accredited higher education institution for the following academic year.
The expected deadline is early November 2025.
3. Prospanica Foundation Scholarship
Prospanica Foundation Scholarships offer up to $5,000 to both Hispanic and Latino undergraduate and graduate business students. In order to be eligible, applicants must be a U.S. citizen, legal permanent resident or DACA recipient, and of Hispanic/Latino heritage. They must have a minimum 3.0 GPA or a minimum 2.75 GPA in combination with work experience during that time.
Student applicants must also have a Prospanica membership and be enrolled or planning to enroll in a Master’s or PhD program or an undergraduate program in an accredited university business school in the U.S. or Puerto Rico. Students who are applying for the undergraduate awards must be a college sophomore or higher. Expected deadline for the next round of applications is April 2025.
4. McDonald’s HACER National Scholarships
The McDonald’s HACER® National Scholarships aims to provide educational opportunities for college-bound Hispanic and Latino high school seniors. To be eligible, a student must be under 21, a legal U.S. resident, U.S. citizen, or a DACA recipient, and have at least one parent of Hispanic/Latino heritage.
Applicants must plan to attend a two- or four-year college, university, or vocational/technical school with a full-time course of study. The scholarship program criteria requires that you disclose other scholarships you’ve applied for.
Scholarship amounts are awarded in three tiers: Tier 1 recipients get up to $100,000, Tier 2 receive $20,000 or $10,000, and Tier 3 recipients get $5,000. Awards are based on an applicant’s academic achievement, community involvement, personal statement, and their financial need. The deadline is February 6, 2025.
5. HITEC Foundation Scholarship
The HITEC Foundation offers scholarships of up to $5,000 to Hispanic students who want to pursue a college degree in technology. In order to be able to apply, individuals must be a U.S. citizen, permanent legal resident, or have active DACA status, and have at least one parent of Hispanic heritage.
Applicants must be a graduating high school senior or a current undergraduate or graduate college student, have a minimum 3.0 GPA, and major or intend to major in an approved technology-related major, such as artificial intelligence, computer science, cybersecurity, or web development. The expected deadline is mid-April 2025.
6. Café Bustelo El Café del Futuro Scholarship Program
The Café Bustelo® El Café del Futuro Scholarship Program is a $5,000 scholarship awarded to 25 students of Latino descent who are 18 years or older, a legal resident of any U.S. state, the District of Columbia, or Puerto Rico, and who are enrolled as a full-time student at a Hispanic Association of Colleges and Universities (HACU) member institution.
Applicants are required to submit a short essay related to their Latino heritage, future plans with their degree, and how they plan to give back to the community. The estimated deadline is June 30, 2025.
7. National Association of Hispanic Nurses
The National Association of Hispanic Nurses (NAHN) gives out annual scholarships to active nurses who are also NAHN members. The scholarship is for those in an accredited LVN/LPN, associate, diploma, bachelor’s, or graduate degree nursing programs.
NAHN selects recipients based on several factors, including financial need, academic merit, and course of study. Amounts and deadlines vary depending on scholarship.
8. National Organization of Professional Hispanic NRCS Employees (NOPHNRCSE) Scholarships
Hispanic students who are pursuing a degree in the fields of agriculture, national resources (including conservation), or public affairs can apply for one of the several scholarships offered by the NOPHNRCSE . Scholarships are for those attending an accredited school of higher education.
One award, the Martha Guerra-Arteaga Scholarship, is specifically for Hispanic female students who are majoring in natural resources conservation, public affairs, or communications. NOPHNRCSE award amounts vary, and the expected deadline is late July 2025.
9. José Ventura and Margarita Melendez Mexican-American Scholarship Fund
Mexican or Mexican-American high school graduates who are already or will be a first-generation college student and have work or strong volunteering experience can apply for the José Ventura and Margarita Melendez Mexican-American $1,000 scholarship. An essay about why the applicant is passionate about being a first-generation, Mexican-American student is required. The deadline is December 2, 2024.
Colgate’s Haz La U (Make the U) is a college grant program sponsored by Colgate-Palmolive in partnership with the Hispanic Heritage Foundation, and one of the Foundation’s Youth Awards previously mentioned. The program awards 31 educational grants totalling $100,000 to high school seniors of Hispanic heritage who maintain academic excellence and show dedicated leadership and service to the community.
Applicants must be a current high school senior enrolling at an accredited higher education institution and have a minimum 3.0 GPA (or 7.5 on a 10.0 scale). Grant amounts vary, and the expected deadline is November 2, 2025.
11. Mas Family Scholarship Program
Mas Family Scholarships are for those who are Cuban-born or are of direct Cuban descent. Applicants must already be enrolled in an accredited college or university for the upcoming school year while pursuing an undergraduate or graduate degree, have a minimum 3.5 GPA, and demonstrate involvement in community activities and leadership potential. The deadline is January 31, 2025, and award amounts vary.
Types of Scholarships Available for Hispanic Students
Hispanic students can apply for need-based and merit-based scholarships, though in many cases, a scholarship can be both need and merit-based. Let’s dive into what distinguishes one from the other:
Need-Based Scholarships
Need-based scholarships are for those in financial need who may not otherwise be able to afford higher education without this financial aid. Students tend to qualify for need-based scholarships if they are low-income.
The goal of a need-based scholarship or grant such as the Pell Grant, is to help remove the obstacles minority students often face in paying for higher education. Need-based financial aid often comes from the government; however, there are many scholarships, including some of those mentioned above, that award recipients based on their financial circumstances.
Merit-based scholarships are given to individuals who have excelled in certain areas, including academics, athletics, the arts, and extracurricular activities. Merit-based scholarships may look for students who have shown leadership qualities and given back to their community.
Applicants for merit-based scholarships will also be asked to provide certain documentation along with the application, such as transcripts, a resume, an essay, a personal statement, and letters of recommendation. While merit-based scholarships’ primary purpose is to reward a student’s achievements, there are a good number of awards that also take a student’s financial need into account.
Tips for Applying
It may be helpful to create a college application checklist, perhaps in the form of a spreadsheet, to keep track of scholarship deadline dates and eligibility requirements.
Here are additional tips to help make the application process easier and increase your chances of getting some free money for college:
• Don’t wait until the last minute to submit your application. The last thing you want to do is feel rushed to gather your materials and run the risk of submitting an incomplete or messy application.
• Take your time to write a good essay. This is your opportunity to highlight your experiences as a Hispanic person. Make sure you do a thorough spell and grammar check before submitting. If possible, have a trusted advisor, such as a teacher or professor, give it a read. They may have valuable input that can help you stand out even more.
• Apply for all scholarships. Seek out as many Hispanic scholarships that fit your situation, even if the monetary amount is small. The competition for a $500 or $1,000 award may not be as fierce, upping your odds of being chosen. Besides, every little bit helps.
• Seek out scholarship workshops. Check to see if your school offers any online or in person scholarship workshops. These seminars can offer valuable information and strategies when you’re doing your initial research and throughout the application process.
The Takeaway
If you are a Hispanic student and are looking for a way to help fund your education, the good news is that there is a wide variety of scholarships out there. Scholarships for Hispanic students are created to support this segment of the population who are often underrepresented in colleges and universities.
Hispanic scholarships can be need-based, merit-based, or a combination of the two, and found through scholarship search tools; individual organizations, companies and education institutions; and college, university, or career school’s financial aid office.
In addition to scholarships, students can apply for grants, federal student loans, and private student loans to help 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
Are there scholarships specifically for Mexican-American students?
Yes. While many scholarships are open to all Hispanic students, some are tailored to those individuals who hail from a certain country and/or ancestry, including Mexico.
Do Hispanic scholarships consider financial need?
Many do. These scholarships, also referred to as need-based, primarily or exclusively take into consideration an applicant’s financial situation. There’s not one overall standard a student needs to meet in order to be eligible, but qualification is typically determined based on family income.
Can I apply for Hispanic and general scholarships?
Absolutely. There is no limit to how many scholarships or the types you can apply for, so casting a wide net and applying for all types of awards only increases the odds of gaining more money for school.
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High school seniors planning to attend college will have a long to-do list when it comes to submitting college applications and pursuing financial aid. To cut down on college expenses, applying for scholarships should be a top priority.
Luckily, there are many scholarships for high school seniors that can help you pay for school. Here’s a closer look at your scholarship options, including where to find scholarship opportunities and tips on how to apply.
Key Points
• Scholarships are available from schools, nonprofits, corporations, and government programs, offering multiple funding options to high school seniors.
• Scholarships may require specific grades, extracurricular involvement, or community service, allowing students with diverse achievements to qualify.
• Many scholarships for high school seniors have deadlines in the fall or spring of senior year; apply as early as possible.
• Tips for applying for scholarships include putting time into answering essay questions, getting solid letters of recommendation, keeping track of deadlines, and applying to as many scholarships as possible.
• Scholarships help lessen the financial burden of college by reducing the need for loans, making education more affordable.
Eligibility Requirements
Scholarships are awarded for a wide variety of reasons, with some common criteria that could include:
Minimum GPA
• Community service or volunteer work
• Athletic achievement
• Financial need
• Record of leadership
• Unique interest, talent, or hobby
• Identity factor, such as gender, ethnicity, or sexual orientation
• Residency or geographic requirements
Depending on the scholarship, you may have to answer essay questions and submit letters of recommendation. Some scholarship organizations also ask that you complete the FAFSA, which is a free federal form that determines your financial need for college. The FAFSA can connect you not only to scholarships but also to grants for college and federal student loans.
There are a variety of resources that can connect you with high school senior scholarships, such as:
• Scholarship search engines: Use scholarship search engines from College Board, Sallie Mae, Fastweb, Scholarships.com, and SoFi’s scholarship search tool for high school seniors. You can use filters like GPA, scholarship type, and field of study to narrow down your options.
• Your school counselor: Ask your school counselor about scholarship awards. They may be able to connect you with local opportunities you wouldn’t have known about otherwise.
• Financial aid administrator: You can also contact the financial aid office at the colleges you’re applying to for information on grants and scholarships.
• Local organizations: Groups like the Rotary Club and other associations may offer scholarships to local high school seniors.
• Private companies: Various private companies offer scholarship awards, as well. If your parents work in the private sector, find out if their company has any scholarships for the children of employees.
• Internet search: A simple online search can also help you find a myriad of scholarship options, especially if you’re looking for something in particular.
Scholarships for High School Seniors
There are many different scholarships for high school seniors, including:
1. Gates Scholarship
The Gates Scholarship is a highly selective scholarship for African-American, American Indian/Alaska Native, Asian and Pacific Islander American, and Hispanic American high school seniors who come from a low-income household. Applicants must have a minimum GPA of 3.3, proven leadership ability, and personal skills such as emotional maturity, motivation, and perseverance. Winners of this scholarship will have their full cost of attendance covered (after other financial aid is applied).
2. Sallie Mae No Essay Scholarship
Sallie Mae’s No Essay Scholarship offers $2,000 and is open to both students and parents. It doesn’t take much to apply — simply fill out a quick form to enter the sweepstakes. This award is open to legal residents of the 50 U.S. states, Washington, D.C., and U.S. territories who are 17 or older.
3. Scholarships360 No Essay Scholarship
Scholarships360 is a scholarship search engine that can match you with personalized scholarship recommendations. Creating your Scholarships360 account will also automatically enter you for consideration into the company’s $10,000 scholarship. It prefers students who actively apply to scholarships using its platform. Finalists will also be interviewed before a final decision is made.
4. Niche No Essay Scholarship
Niche is another scholarship search engine that offers a scholarship award via sweepstakes. You can enter by creating an account and submitting your application on the Niche website — no essay required. A randomly selected winner will win a $50,000 scholarship for college.
5. Stuck at Prom Scholarship
Offered by Duck Brand, the Stuck at Prom scholarship offers two grand prizes of $15,000 and many runner-up prizes of $1,000 to students who make their prom outfit out of Duck Brand Duct Tape or Crafting Tape. You can apply by uploading a high resolution picture of your original prom-wear to the contest website.
Types of Scholarships Available for High School Seniors
You might think you need a 4.0 GPA to qualify for a college scholarship, but that’s far from the case. Some scholarships are reserved for students with financial need, whereas others go to students who have demonstrated achievement in academics, athletics, volunteer work, or another area.
Here’s a closer look at the types of scholarships available for high school seniors.
Need-Based Scholarships
Many scholarships take financial need into account when evaluating applications. You’ll often need to submit the FAFSA so the scholarship committee can make this determination. The FAFSA can also put you in the running for other need-based financial aid, such as grants, work-study, and student loans.
Merit-Based Scholarships
Merit scholarships are based on a particular area of achievement, whether academic, athletic, extracurricular, or something else. Some scholarship communities look for students with leadership potential, whereas others prefer a history of volunteer work or a unique talent or hobby.
Tips for Applying for Scholarships
With all the competition for scholarship awards, it’s crucial to put together a strong application. Here are some tips for standing out from the pack:
• Put time and effort into your essays: Not all scholarships require essays, but for the ones that do, make sure to write thoughtful responses that highlight your strengths and goals for the future. Through your essays, a scholarship committee can get to know your unique voice and story.
• Gather glowing letters of recommendation: Reference letters can go a long way toward personalizing your application. Ask a teacher, coach, or other trusted adult who knows you well. You might also provide them with a “brag sheet” that highlights your accomplishments so they can include colorful anecdotes and examples.
• Read over all the application requirements: Check out the fine print to ensure you’re meeting all the criteria and have provided everything the scholarship committee needs to make a decision on your application.
• Cast a wide net: Apply to as many scholarships as you can to maximize your chances of winning money for college.
• Keep track of deadlines: Use a calendar, planner, or other system to track deadlines and ensure you meet them. There are many moving parts when it comes to applying to colleges and scholarships, so come up with an organization system that will help you stay on track.
Scholarships can help reduce college costs and bring an otherwise unaffordable school within reach. There are many scholarships for high school seniors, but your efforts don’t have to end after high school. You can keep applying for scholarships throughout college to maximize the gift aid you receive. All this applying is well worth the effort, as scholarship awards can bring down the amount you have to borrow in 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
How early should I start applying for scholarships?
The summer between junior and senior year is a good time to start applying for scholarships. You can also continue to apply throughout senior year and after you’re enrolled in college.
Do scholarships for high school seniors require essays?
Some scholarships for high school seniors require essays, whereas others do not. Each scholarship has its own unique requirements, so read over the application instructions carefully.
Can I apply for scholarships before finalizing my college choice?
Yes, you can apply for scholarships before finalizing your college choice. In fact, you may spend several months applying for scholarships before you hear back from colleges about admissions decisions.
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.
