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For decades the message has been simple: Go to college, get a degree, and you’ll unlock better job opportunities. But today’s labor market is more nuanced. Many employers are trading credential-based hiring for a skills-first approach, prioritizing what candidates can actually do over where — or for how long — they studied.

So do most jobs require a college degree? The short answer: No, but many high-paying and specialized careers still do. The longer answer requires a deeper look at data, industries, and the trends shaping today’s workforce.

Breakdown by Education Level

How many jobs in the U.S. require a college degree? According to the Bureau of Labor Statistics (BLS), around 30% of jobs require a bachelor’s degree or higher. Roughly 35% of jobs require a high school diploma, while 11.5% call for an associate degree, post-secondary training, or some college. Nearly 24% of jobs require no formal education.

Jobs Requiring a Bachelor’s Degree

A bachelor’s degree is still the typical entry requirement for many professional careers, including management, business, and financial roles.

According to the BLS, which monitors the employment outlook for over 800 occupations, the following roles requiring at least a bachelor’s degree are projected to have the highest number of openings through 2033:

•   General and operations managers

•   Registered nurses

•   Accountants and auditors

•   Software developers

•   Business operations specialists

•   Managers

•   Management analysts

•   Elementary school teachers (excluding special education)

•   Market research analysts and marketing specialists

•   Human resources specialists

💡 Quick Tip: You’ll make no payments on some private student loans for six months after graduation.

Jobs Requiring an Associate Degree or Certification

The “middle-skill” category — jobs that require more than high school but less than a bachelor’s degree — is a fast-growing segment of the economy.

According to BLS projections, the fastest-growing jobs that require a postsecondary nondegree (such as a certificate, associate degree, or some college but no degree) include:

•   Truck drivers

•   Nursing assistants

•   Teaching assistants

•   Bookkeeping, accounting, and auditing clerks

•   Medical assistants

•   Hairdressers, hairstylists, and cosmetologists

•   Automotive service technicians and mechanics

•   Preschool teachers (except special education)

•   Licensed practical and vocational nurses

•   Dental assistants

These careers can be attractive because they offer a faster, more affordable route into the workforce, require less time and student loan debt than a bachelor’s degree, and generally offer strong job security.

Jobs That Don’t Require a College Degree

A large portion of the job market requires no college education at all. According to BLS data, there are 326 occupations that typically require a high school diploma or the equivalent (such as a GED), nearly twice as many occupations as at any other level of education.

While some of these jobs pay lower wages, many skilled trades can earn strong salaries without a bachelor’s degree, especially for those who pursue some form of postsecondary education, such as an associate degree, trade school training, an apprenticeship, or certificate program.

Here’s a look at some high-paying jobs that may not require a college degree:

Job	Median Salary
Wind turbine technician	$61,770
Flight attendant	$68,370
Hearing aid specialist	$58,670
Plumber	$61,550
Licensed practical or vocational nurse	$59,730
Medical records technician	$48,780
Exercise trainer	$46,480

Source: U.S News

How Educational Requirements Vary by Industry

The importance of a degree depends heavily on the industry you choose. Some fields depend on formal education, while others place more value on hands-on training and real-world experience.

Industries Where Degrees Are Most Common

Fields where bachelor’s degrees are often required include:

•   Information technology

•   Health care (nursing, physicians, therapists)

•   Law and legal services

•   Engineering and architecture

•   Finance and accounting

•   Education and academia

•   Business management

•   Human resources

•   Communications (public relations specialists, editors, journalists, technical writers)

These careers typically require a bachelor’s degree or higher because they demand expansive forms of training, standardized credentials, and/or “soft skills” that are difficult to train on the job (such as critical thinking and effective written communication).

Industries Where Degrees Are Less Common

Fields that offer opportunities to candidates without college degrees include:

•   Construction and skilled trades

•   Manufacturing and production

•   Warehousing and distribution

•   Hospitality and tourism

•   Retail management and sales

•   Automotive services

•   Security and protective services

•   Transportation

•   Energy and utilities support roles

•   Creative and digital freelancing

In these sectors, employers often prioritize experience, apprenticeship, certificate programs, and on-the-job training. For example, construction and manufacturing employers frequently face worker shortages and are eager to hire candidates with hands-on skills rather than degrees.

Trends Shaping the Future of Degree Requirements

The future of degree requirements is being shaped by a number of factors. Here are some to keep in mind as you weigh the pros and cons of going to college.

Shift to Skill-Based Hiring

In recent years, skills-based hiring has gained momentum as employers look beyond traditional credentials to access a wider talent pool. This shift is particularly impactful given that 63% of U.S. adults do not hold a bachelor’s degree.

An analysis of job postings by the Indeed Hiring Lab highlights this trend:

•   52% of U.S. job listings on Indeed contained no formal education requirements in early 2024, up from 48% in 2019.

•   The share of job postings explicitly requiring at least a college degree dropped from 20.4% in 2019 to 17.8% in 2024.

Underemployment Among Graduates

Approximately 52% of recent college graduates are underemployed, meaning they work in jobs that do not require a four-year degree, according to a 2024 study by the Burning Glass Institute and Strada Education Foundation. This trend often persists, with about 45% of graduates still in underemployed positions 10 years after graduation.

Changing Public Perception

Public attitudes toward higher education are undergoing a dramatic shift. A September 2025 Gallup poll revealed that only 35% of American adults now view a college education as “very important,” a sharp decline from 70% in 2013.

Rising tuition costs are a primary driver of this skepticism. According to a late 2025 NBC News poll, 63% of registered voters believe a four-year degree is no longer worth the cost. Respondents noted that graduates often lack practical job skills and enter the workforce burdened by debt.

College Still Counts

Although many companies have officially reduced or eliminated degree requirements, a joint study by Harvard Business School and the Burning Glass Institute reveals a significant gap between policy and practice: Many companies still default to hiring degree-holders, even if the job doesn’t formally require it.

At the same time, a report from Georgetown University’s Center on Education and the Workforce (CEW) indicates that the importance of postsecondary education is poised to grow. By 2031, an estimated 72% of U.S. jobs will require training beyond high school, and 66% of “good jobs” — defined as those paying at least $43,000 for workers aged 25–44 — will likely require a four-year degree.

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Do You Really Need a College Degree?

You don’t need a college degree to get a job. In skilled trades and many service industries, a degree often isn’t required — and may not offer strong financial returns compared to faster training options.

But earning a degree does have its benefits, including a broader range of jobs to choose from and the potential for higher lifetime earnings. BLS data show that, on average, workers with bachelor’s degrees earn 66% more per week than those with only a high school diploma. Additional education further widens the divide: Graduates with professional degrees make, on average, 53% more than those with bachelor’s degrees.

While cost is often a barrier to pursuing higher education, many students tap a variety of funding sources to pay for college, including savings, scholarships and grants, part-time jobs, work-study programs, and federal and private student loans.

Recommended: Student Loan Payment Calculator

The Takeaway

While a four-year degree remains the gateway to many high-paying, specialized professional careers, the majority of jobs in the U.S. do not require one. A movement toward skills-based hiring, combined with the rising cost of tuition, is driving a shift in public perception and hiring practices.

Ultimately, you want to weigh the decision to pursue a degree against your specific career goals and financial situation. While a bachelor’s degree typically correlates with higher lifetime earnings, specialized certifications or associate degrees can provide a faster, more affordable route to a stable, good-paying job.

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 percentage of jobs in the U.S. require a college degree?

Around 30% of jobs in the U.S. typically require a bachelor’s degree or higher, according to the Bureau of Labor Statistics (BLS). Another 11.5% call for an associate degree, post-secondary training, or some college. The remaining 58.5% of jobs require a high school diploma or less, with nearly 24% requiring no formal education at all.

While the majority of jobs don’t require a four-year degree, many high-paying, specialized, and professional careers still do.

Which jobs don’t need a college degree but pay well?

Many well-paying jobs do not require a four-year college degree, particularly in skilled trades and technical fields. Roles like electrician, plumber, wind turbine technician, and licensed practical nurse offer median salaries over $55,000 annually. Other high-paying options include flight attendants and hearing aid specialists. These occupations often require specialized training, such as an associate degree, trade school, apprenticeship, or certification, rather than a bachelor’s degree.

Are employers moving away from requiring degrees?

Yes, many employers are moving away from requiring four-year degrees and shifting toward “skills-based hiring” to widen applicant pools. This is especially true for roles in manufacturing, technology, and state government. However, research indicates that the actual hiring of non-degree holders has been slow, with many firms still defaulting to degree preferences.

How can I get a good job without a degree?

One of the best ways to get a good job without a degree is to focus on acquiring in-demand skills and industry-recognized credentials. You might explore vocational schools, apprenticeships, or specialized certification programs in fields like skilled trades (such as an electrician or plumber), IT, or health care (e.g., medical assistant or licensed practical nurse).

Gaining practical experience through entry-level roles or on-the-job training is also important, as employers in many industries prioritize proven ability over formal education. Networking and building a professional portfolio can further increase your job prospects.

Which certifications are better than a college degree?

While a college degree generally enhances lifetime earnings, targeted certifications often provide greater value for career paths demanding immediate technical proficiency. In sectors such as IT, project management, specialized health care, and the skilled trades, industry-recognized credentials can offer a more efficient and affordable route to employment. By validating practical expertise that meets current market demands, these certifications can accelerate entry into good-paying jobs.

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Many grocery stores offer their customers loyalty programs with rewards such as discounts, cash back, points, or free items for purchasing groceries they already need. Details vary from store to store, but these programs can offer big benefits to customers and stores alike.

Everyone is aware that food prices have gone up in recent years, with the Bureau of Labor Statistics reporting an increase of 2.9% from May 2024 to May 2025. Every bit of savings can help. Understanding how these grocery store reward programs work can help you make informed choices before you head for the check out.

What Are Grocery Store Rewards?

Grocery store rewards are useful for grocery shoppers on a budget. They are targeted benefits that shoppers receive for participating in a loyalty program. In return shoppers typically provide access to data on their purchasing habits, which can be invaluable information for stores.

How Does a Grocery Store Rewards Program Work?

Grocery store rewards programs usually require you to sign up for a card or app by providing personal information, such as your name, phone number, and email address.

To earn and redeem rewards, shoppers are asked to present their card or app when they check out to buy grocery items like eggs or household products, like sponges or dish soap.

Grocery store reward programs offer benefits in both directions. Stores like to use them because they encourage loyalty and repeat visits. They also use these programs to gather data on what their customers are buying, which helps shape marketing campaigns and inventory decisions.

Types of Grocery Store Rewards

Some reward programs offer entertainment benefits. Grocery store rewards programs try to offer shoppers the chance to earn a number of different benefits linked to food shopping, such as:

•   Points: Shoppers may receive points that they can redeem for money off in-store purchases. Some stores may offer points that can be redeemed for discounts on gas at partnering gas stations.

•   Discounts: Rewards program members may have access to coupons through a store’s app, for example.

•   Members pricing: Certain products may be priced lower for rewards members.

•   Cash rewards: Cashback rewards give you a certain percentage of your money back as a rebate when you make purchases.

Benefits of Grocery Store Rewards

The biggest—and perhaps most obvious—benefit of a grocery store rewards programs is savings. Rewards can help you lower your grocery bill or provide points for discounts with other retailers, such as gas stations or pharmacies. Savings are quick and easy, usually applied at the point of checkout.

Other less obvious benefits are connected to the data grocery stores collect on your purchases. This information may allow them to target special offers to you based on your purchasing patterns. This way you receive offers for items that you already buy rather than a collection of random promotions.

Rewards apps often offer purchase histories and savings summaries that allow you to track your spending as well as how much you typically spend on deals. This information can be helpful as you build your monthly budget.

Finally, because grocery store rewards help incentivize you to shop at the store, they can also incentivize eating at home versus eating out regularly. This can be a boon to budget-conscious shoppers, since the cost of eating at home hovers around $4 to $6 per person on average, while dining out can be $15 or more per person.

Recommended: What Are the Average Monthly Expenses for One Person?

Examples of Grocery Store Rewards Program

There are many different rewards programs from major retailers. Some are relatively elaborate. For instance, Kroger, a major grocery store chain, offers a free card with personalized deals, digital coupons, and points that can be redeemed for gas. The retailer offers a paid tier membership which doubles fuel points, offers free grocery delivery, and several free streaming services.

Other rewards programs may be simpler. Publix, for instance, offers digital coupons and notifications for buy-one-get-one sales.

Ways to Earn Grocery Store Rewards

Usually, all you have to do to earn grocery store rewards is sign up for the program and redeem benefits at checkout.

Some retailers offer a paid membership that can unlock further rewards, such as free delivery on purchase over a certain amount, free shipping for online purchases, no-rush returns, or access to a selection of free gifts or exclusive discounts.

Alternatives to Grocery Store Rewards Program

Not all grocery rewards programs operate as in-house benefits. For example, certain bank cards may offer cashback on grocery story purchase.

Other cards may offer different types of rewards for spending, such as points that can be redeemed for airline tickets or hotel rooms. Some cards may offer higher rewards for spending at grocery stores, while others may not differentiate them from other retailers.

Grocery Store Rewards Tips

To maximize rewards programs use tips that can help you save money on groceries. For instance, make use of coupons and shop sales for items that you already need. If you are using a rewards credit card, pay your bill in full each month. This way you will avoid carrying a balance, which triggers interest payments that could erase the cost savings you gained at the store.

Recommended: Average Grocery Budget for Family of 3

The Takeaway

Whether you’re looking to stretch your budget or pick up extra savings to use toward other financial goals, understanding rewards programs can help you make informed decisions and which programs to sign up for. Ultimately the goal is to maximize your benefits to ensure that you are getting real value from these programs.

FAQ

What are advantages of using a grocery store rewards program?

Grocery store rewards programs can help you save money, allowing you to stretch a grocery budget or secure savings for other financial goals. They can also provide more targeted offers for items that you already buy.

What is the 6-to-1 grocery rule?

The 6-to-1 grocery rule was designed by chef Will Coleman and suggests that when grocery shopping, shoppers buy six vegetables, five fruits, four proteins, three starches, two sauces, and one fun item. According to Coleman, this should provide shoppers with cost-effective, versatile ingredients that can be used for a week’s worth of meals.

Is $300 a month good for groceries?

Wondering how much you should spend on food? Your grocery budget will depend on your food preferences, where you shop, and the size of your household. That said, spending $300 a month on food is well below the approximately $504 monthly average Americans spend according to the Bureau of Labor Statistics (BLS). It may be a big enough grocery budget for a single person. However, the grocery budget for a family of five, for example, might need to be much larger.

What is a realistic monthly grocery budget?

The average cost of groceries is $504 a month, according to the BLS. This may serve as an appropriate benchmark. The United State Department of Agriculture provides food budget estimates of around $300 to $500 per month per adult. Costs also vary widely by age, household size, and location. A grocery budget table can help you determine the average cost for your situation.

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Earning a doctorate signifies reaching the highest level of academic achievement in your field — but it’s also one of the most expensive academic paths you can take. Costs vary widely by field, program type, and whether funding is available. Some doctoral students pay very little out of pocket, while others graduate with significant debt.

Below, we break down the average cost of a doctorate degree, what you’ll pay by program type, and whether the investment is worth it.

Average Cost of a Doctorate Degree

For the 2024-25 academic year, the average tuition cost for a doctoral program was $12,116 at a public in-state university and $21,110 at a private institution, according to the National Center for Education Statistics (NCES).

Once you add in additional fees and living expenses, the average cost of a Ph.D is around $49,500. Over four to eight years, the total can range from $198,000 to $396,000.

However, the average cost of a doctorate degree can be misleading. Research-focused Ph.D. programs are often partially or fully funded, while professional doctorates are typically self-funded. In addition, programs such as medicine and law can cost significantly more than the average doctoral degree.

💡 Quick Tip: You can fund your education with a competitive-rate, no-fees-required private student loan that covers up to 100% of school-certified costs.

Cost by Type of Doctorate Program

Different types of doctoral degrees come with very different price tags due to differences in tuition rates, funding availability, and program length.

Ph.D. (Doctor of Philosophy)

A Doctor of Philosophy is a research-focused degree designed to train students to generate, integrate, and apply new knowledge. A Ph.D. typically follows a bachelor’s or master’s degree, takes about four to seven years to complete, and often leads to careers as university professors or researchers.

How much does a PhD cost? According to the latest NCES data (2024-25):

•   Average annual tuition at a public in-state university: $11,244

•   Average total tuition at a public in-state university: $44,976 – $78,708

•   Average annual tuition at a private university: $20,110

•   Average total tuition at a private university: $80,440 – $140,770

Ed.D. (Doctor of Education)

A Doctor of Education is a professional doctorate often pursued by educators and administrators. Unlike a research-focused Ph.D., the Ed.D. emphasizes practical application and typically takes about two years to complete.

According to the latest NCES data (2024-25):

•   Average annual tuition at a public in-state university: $12,169

•   Average total tuition at a public in-state university: $24,338

•   Average annual tuition at a private university: $23,030

•   Average total tuition at a private university: $46,060

DBA (Doctor of Business Administration)

A Doctor of Business Administration is designed for experienced professionals — often those who have an MBA — who want to apply research to solve real-world business challenges. The DBA focuses on leadership, strategy, and applied research and typically takes about three years to complete.

According to the latest NCES data (2024-25):

•   Average annual tuition at a public in-state university: $12,169

•   Average total tuition at a public in-state university: $36,507

•   Average annual tuition at a private university: $23,030

•   Average total tuition at a private university: $69,090

DNP (Doctor of Nursing Practice)

The Doctor of Nursing Practice is the highest clinical degree in nursing. It prepares advanced practice nurses — including nurse practitioners (NPs), clinical nurse specialists (CNSs), and registered nurse anesthetists (CRNAs) — to lead improvements in patient care by translating research into practice. A DNP typically takes three to five years to complete.

According to the latest NCES data (2024-25):

•   Average annual tuition at a public in-state university: $12,169

•   Average total tuition at a public in-state university: $36,507 – $60,845

•   Average annual tuition at a private university: $23,030

•   Average total tuition at a private university: $69,090 – $115,150

Psy.D. (Doctor of Psychology)

A Doctor of Psychology is a professional doctorate focused on training clinicians to assess, diagnose, and treat mental health issues through direct practice. After earning a bachelor’s degree, a Psy.D. generally takes an additional four to six years to complete.

According to the latest NCES data (2024-25):

•   Average annual tuition at a public in-state university: $12,169

•   Average total tuition at a public in-state university: $48,676 – $73,014

•   Average annual tuition at a private university: $23,030

•   Average total tuition cost at a private university: $92,120 – $138,180

JD/MD (Professional Doctorates)

The Juris Doctor (JD) and Doctor of Medicine (MD) are professional degrees required to practice law or medicine in the U.S. While they are doctoral-level credentials, they are practitioner-focused rather than research-based.

A JD takes three years to complete, while an MD requires four years of medical school followed by a multi-year residency.

According to the latest NCES data (2024-25):

JD (Law Degree)

•   Average total tuition at a public in-state university: $36,507

•   Average total tuition at a private university: $69,090

MD (Medical Degree)

•   Average total tuition at a public in-state university: $48,676

•   Average total tuition at a private university: $80,120

Recommended: Applying for Graduate School: Tips for Success

Other Expenses to Consider

Tuition is only one part of the total cost of earning a doctorate. Common additional costs and expenses include:

•   University fees: $4,065 – $5,538

•   Housing and food: $15,700 – $23,500

•   Books and supplies: $1,250 – $1,800

•   Personal expenses: $2,750 – $5,000

How Long Does It Take to Earn a Doctorate?

The time required to earn a doctoral degree varies by field and program type. Below is an overview of typical timelines for full-time study:

Doctoral Degree	Average Years of Study
Ph.D. (Doctor of Philosophy)	4-7
Ed.D. (Doctor of Education)	2
DBA (Doctor of Business Administration)	3
DNP (Doctor of Nursing Practice)	3-5
Psy.D. (Doctor of Psychology)	4-6
JD (Juris Doctor)	3
MD (Doctor of Medicine)	4 (plus 3-7 year residency)

In general, longer programs result in higher total costs — especially if you’re unable to earn full-time income while enrolled.

Financial Aid and Funding Options

Figuring out how to pay for graduate school can be challenging, but doctoral students have several funding options available. In fact, up to 85% of doctoral students receive financial assistance, such as fellowships, scholarships, grants, or teaching assistantships.

Here’s a look at some common ways doctoral students pay for school:

•   Teaching assistantships: Teaching assistants (TAs) work alongside professors in support roles in exchange for compensation. TAs may receive hourly pay, stipends, tuition remission, and/or course credit.

•   Research assistantships (RAs): Research assistants (RAs) also provide support to professors, but rather than grading papers or leading small groups, they help with research-related tasks. RAs may receive hourly pay, stipends, tuition remission, and/or course credit.

•   Fellowships, scholarships, and grants: These awards may be based on academic merit or financial need and may cover tuition, living expenses, books/supplies, and research costs.

•   Federal student loans: While Grad PLUS loans will no longer be available to new borrowers starting July 2026, doctoral students can still use Federal Direct Unsubsidized Loans. These loans are not need-based and offer access to federal repayment programs. However, they come with annual and aggregate borrowing limits.

•   Private student loans: Offered by banks, credit unions, and online lenders, private graduate student loans can help cover educational costs that financial aid and federal loans might not fully reach. Private loans typically require a credit check, so if you have limited credit, you may need a cosigner to get approved for the lowest rates. As you build your credit profile after graduation, you may be able to remove your cosigner through student loan refinancing.

Tips to Lower the Cost of a Doctorate

Although earning a doctorate can be expensive, smart planning can significantly reduce out-of-pocket costs. Here are some strategies to consider:

•   Choose funded or partially funded programs: Many Ph.D. programs offer funding packages that include tuition waivers, stipends, and health insurance in exchange for teaching or research work. Even professional doctorates may offer scholarships or reduced tuition for strong applicants.

•   Attend a public university: Public universities typically cost far less than private schools, particularly for in-state students. In some cases, doctoral students can establish residency after the first year, which can save thousands of dollars over the program.

•   Consider online or hybrid programs: Online and hybrid doctorates often reduce costs by eliminating relocation, commuting, and campus fees. They also make it easier to keep working while studying, which helps offset tuition and reduces the need for loans. Just be sure the program is accredited and well-respected in your field.

•   Use employer tuition assistance: Many employers offer tuition reimbursement for degrees related to your role. These benefits can range from a few thousand dollars per year to full tuition coverage. Check with your HR department before enrolling to understand available benefits and any required work commitments.

•   Apply for scholarships and fellowships: Graduate funding is widely available through universities, professional associations, nonprofits, and research foundations. Graduate fellowships are particularly valuable because they often provide full tuition and a living stipend without requiring the work commitments associated with assistantships.

•   Reduce living expenses: Housing, transportation, and daily spending add up over several years. Living with roommates, choosing lower-cost locations, and sticking to a budget can save thousands over the course of your degree.

•   Finish on time and borrow wisely: Extra semesters increase tuition and living costs. Staying organized, working closely with advisors, and borrowing only what you truly need can help lower the cost of a doctoral degree.

💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too.

Is a Doctorate Degree Worth the Cost?

Whether a doctorate is worth the investment depends largely on your career goals and expected return on investment (ROI).

A doctorate degree may be worthwhile if you want to:

•   Become a professor or researcher

•   Practice medicine, psychology, or law

•   Move into executive or leadership roles

•   Work in specialized or high-income fields

A doctorate may be less valuable if:

•   It isn’t required for your career

•   You must take on significant debt

•   Salary increases are modest in your field

The Takeaway

Applying to graduate school can be exciting, but it also requires careful financial planning. Comparing program costs, exploring funding options, applying for scholarships and fellowships, and understanding federal and private student loan choice can help you create a sustainable plan for financing your doctoral education.

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

Is a PhD more expensive than an EdD?

A Ph.D. is often less expensive than an Ed.D. because many Ph.D. programs offer full funding, including tuition waivers and stipends, in exchange for teaching or research work. Ed.D. programs, as professional doctorates, are typically self-funded, meaning students pay the full tuition and fees out of pocket. Tuition is also typically higher for an Ed.D. than a Ph.D.

Can you get a doctorate for free?

Yes, you can potentially get a doctorate for free, especially if you pursue a research-focused Ph.D. program. Many universities offer full funding packages to Ph.D. students, which often include a tuition waiver, a stipend for living expenses, and health insurance.

This funding is typically provided in exchange for working as a teaching assistant (TA) or research assistant (RA). While professional doctorates (like an Ed.D. or Psy.D.) are less likely to be fully funded, you can still significantly reduce the cost through external scholarships, grants, and employer tuition assistance programs.

Are online doctorate degrees cheaper?

Online doctorate degrees can be cheaper than on-campus programs primarily because they eliminate or significantly reduce costs associated with attendance, such as commuting expenses, campus fees, and the cost of relocating.

Online formats also offer greater flexibility, often allowing students to continue working full-time. However, tuition rates for the program itself may be comparable to traditional programs, so it’s essential to compare the total cost.

Does FAFSA cover doctorate degrees?

Yes, FAFSA® (Free Application for Federal Student Aid) covers doctorate degrees, as well as other graduate-level education. By submitting the FAFSA, doctoral students can be considered for federal financial aid, including unsubsidized federal student loans, work-study programs, and certain grants. Doctoral students are automatically considered independent students, meaning parental income is typically not required on the application.

How do you fund a PhD?

Many Ph.D. programs offer full funding, including tuition waivers and stipends for living expenses, often in exchange for work as a teaching or research assistant. This makes many Ph.D.s effectively free or very low-cost. In contrast, professional doctorates, such as the Ed.D. and Psy.D., are typically self-funded, meaning students must pay the full tuition and fees, generally through loans, personal savings, or external grants.

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Getting a credit card refund is generally simple, whether you’re returning a defective product or just had a change of heart. Once processed, the merchant issues a credit to your account, effectively reversing the original charge.

While the process is routine, the timing and impact of a credit card refund depend on several factors, including the merchant’s policies and your card’s billing cycle. Here’s what you need to know about how credit card refunds work and what to expect during the transaction.

What Is a Credit Card Refund?

A credit card refund is the money you get back when you return something that you paid for with your credit card. Rather than getting cash back for the full amount of the returned item, you’ll receive a credit to your credit card account for that amount. While the refund process starts as soon as you return the item, it might take a few days for the transaction to show up in your account.

How Do Refunds on Credit Cards Work?

When you use a credit card for a transaction, the merchant initiates a request for payment from your card issuer. Once the issuer settles the charge on your behalf, that specific purchase amount is added to your ongoing account balance. Subsequently, you are responsible for settling your credit card statement to reimburse the issuer for the funds they advanced for your purchase.

In the event that you return an item, the merchant processes a refund back to the credit card issuer rather than providing cash directly to you. In turn, your credit card company applies a corresponding credit to your account balance to reflect the returned goods.

Recommended: When Are Credit Card Payments Due?

Types of Credit Card Refunds

There are two basic types of credit card refunds:

Refund at the Point of Sale

This is when you return an item by going to the store in person or sending back an online purchase. If you return something at a physical register, the merchant swipes your card or scans your receipt, and the credit is issued immediately from their system (though it may take a few days to process and show up in your account).

For online returns, the credit is typically triggered only after a staff member inspects the package and confirms the item is in resellable condition.

Disputed Transaction

Disputed transactions are different from straightforward returns. With a disputed transaction, you’re making a complaint about the purchase as opposed to just making a return. For instance, you might dispute a credit card charge for an online purchase that never arrived. Or you might dispute a charge for a canceled event.

It’s generally best to start with the seller when you have an issue with the goods or services provided. However, if that doesn’t resolve the problem, you can file a dispute with your credit card issuer.

Typically, you must file a dispute within 60 days of the date when you received the bill that includes the transaction in question. The issuer will usually then issue a provisional credit to your account. They then have up to 90 days to investigate and resolve the issue. If the merchant is found to be at fault, your credit card company will initiate a chargeback, which is a reversal of the original payment and your provisional credit becomes permanent.

How Long Does a Credit Card Refund Typically Take?

The amount of time it takes to receive a credit card refund depends on the retailer and the type of refund you’re requesting. It typically takes about three to seven business days to see your refund from a routine return you make in person, and sometimes it’s even faster than that.

Online merchants may take longer to issue a credit card refund because you need to allot time for shipping and processing the returned merchandise.

With a disputed charge, you often receive a temporary credit within one to two business days while the bank investigates, though it can sometimes take longer. The entire, formal investigation process can last up to 90 days to reach a final resolution.

Do Credit Card Refunds Count Toward Payments?

No, credit card refunds are not considered a payment or partial payment, and they do not automatically go toward that month’s minimum payment on your card.

Instead, you’ll see a credit in the amount of the refund in your account statement and, depending on where you are in the billing cycle, this could reduce the total amount you owe by the amount of the refund. Even so, you must still make at least the minimum payment by the due date to avoid a late fee.

How Credit Card Refunds May Affect Your Credit Score

To understand how credit card refunds impact your credit, it’s important to understand credit utilization ratio. This term refers to the percentage of your total credit limit that you are currently using. Credit utilization can be an important factor in calculating your credit score and, generally, the lower it is, the better. Financial experts often suggest keeping your credit utilization ratio under 30%, with 10% being an even better figure to aim for.

A refund reduces your outstanding balance, which decreases the amount of credit you are using. This could lower your credit utilization ratio and have a positive impact on your credit profile. However, if a refund takes weeks to process, the high balance might be reported to credit bureaus, which could have a temporary negative impact on your credit.

What to Do With a Negative Account Balance

Sometimes a refund will give you a negative balance on your credit card, which means the issuer actually owes you money. Common for those paying in full, a negative balance is not harmful to your credit and can be used for future purchases. Typically, an issuer will automatically apply a credit balance to your next purchases, eventually bringing your balance back to $0 or above.

However, a negative balance can be problematic if you’re receiving a large refund and don’t often use that credit card. In these instances, you can ask your credit card company to issue a refund via check, money order, or direct deposit. Some issuers will automatically issue a check if a negative balance is left unused for a certain period of time.

How Credit Card Refunds Affect Your Rewards

When you return a purchase made with a rewards credit card, the points, miles, or cash back earned from that transaction are typically deducted from your rewards balance once the refund is processed.

If you decide that it makes more sense to keep the rewards, you can ask the merchant to refund you in the form of a store credit. However, that means you will still have to pay for the purchase on your credit card. Also keep in mind that the credit can only be used at that store.

The Takeaway

A credit card refund is a straightforward process where a merchant credits your card issuer, which in turn reduces your outstanding balance. While routine returns are usually resolved within three to seven business days, disputed transactions can take longer.

Remember that a refund doesn’t count as a payment toward your minimum due, but it can positively affect your credit utilization ratio. If a refund results in a negative balance, you can either use the credit on future purchases or request a payout from your card issuer.

Looking for a new credit card? Consider credit card options that can make your money work for you. See if you're prequalified for a SoFi Credit Card.

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FAQ

Do credit card refunds affect your credit?

Credit card refunds can affect your credit profile, typically in a positive way. A refund lowers your outstanding balance, which in turn decreases your credit utilization ratio (the amount of credit you are using compared to your total limit). A lower utilization ratio is generally beneficial for your credit. However, if the refund takes a long time to process, your high balance might be reported to credit bureaus before the credit posts, which could temporarily affect your score negatively.

Do credit card refunds affect the rewards earned from a refunded purchase?

When a purchase is returned and refunded, any rewards (points, miles, or cash back) earned on that original transaction are typically reversed or deducted from your rewards balance once the refund is fully processed by the credit card issuer.

If you want to keep the rewards, you can request a store credit from the merchant instead of a credit card refund, but you will still be responsible for paying the original purchase amount on your credit card.

What happens if I have a negative balance after a credit card refund?

If you have a negative balance after a credit card refund, it means the credit card issuer owes you money. Typically, this credit will automatically be applied to your next purchases on that card, eventually bringing the balance back to zero or higher.

If the negative balance is large and you don’t plan on using the card soon, you can contact your credit card company to request the funds be issued to you directly, usually via check, money order, or direct deposit. Some issuers may automatically send a check if a significant negative balance remains unused for an extended period.

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Whether you’re dealing with a burst pipe, broken water heater, or other issue, most plumbing problems need to be fixed right away. If you don’t have enough cash on hand to pay for the work upfront, plumbing financing could offer a solution. From home improvement loans to plumbing company financing plans, you have various options for spreading out costs over time. Understanding how each financing option works can help you choose the best fit for your home and your wallet.

Why You Might Need Plumbing Financing

Plumbing issues often require an urgent fix. If you have water leaking into your basement or your shower won’t heat up, you’ll generally need to call a plumber right away. Even if your issue isn’t an emergency yet, it could turn into one if you wait for your next paycheck to arrive.

The cost to repair a plumbing leak or other issue can be high, with a typical job ranging from $175 to $450, according to Home Advisor. An average service fee costs $300, while a plumber’s hourly rate may be as high as $200. A major fix, like replacing a water heater or septic tank, can cost thousands of dollars.

Not everyone has savings on hand to pay a plumbing bill upfront. Even if you do, you may not want to drain your entire emergency fund (or charge a high-interest credit card). Can you finance plumbing work? Fortunately, the answer is yes. You can finance plumbing work with a home improvement loan or other option. Plumbing repair financing lets you get the work done and pay it off over time, sometimes at a competitive interest rate.

Planned Plumbing Budgets

Planning for plumbing repairs in advance can help you avoid sticker shock (and debt) if an unexpected issue arises. According to Cyclone Plumbing, Inc., a planned plumbing budget for rough-in plumbing for a new home typically ranges from $4 to $5 per square foot. For a 2,000 square foot house, that adds up to $8,000 to $10,000.

Don’t forget about extra costs that might come up, as well, such as permits and inspections. If possible, it’s wise to have a contingency fund of 10% to 20% of the entire projected cost of your plumbing project. This should cover any unexpected expenses.

In general, aim to set aside 1% to 4% of your home’s value each year to cover common home repair costs. A newer home might require just 1% in repair work. If you have an older home, you may want to save 4%. If your home is valued at $350,000, that means budgeting $3,500 to $14,000 per year. That way, you can be prepared for plumbing repairs.

If you have extra funds available, you can put them toward other home improvements that increase your home’s value, such as a bathroom remodel or kitchen upgrades.

While these figures represent an ideal budget, it may not be realistic for everyone. If your costs exceed your savings, a home improvement loan or other financing option could help you bridge the gap.

Top Plumbing Financing Options

There are multiple ways to finance plumbing repair and upgrades. The best one depends on your individual situation, including your credit score and the urgency of the repair. Here’s a closer look at some common approaches.

1. Home Improvement Loans

Home improvement loans are a type of personal loan you can use for plumbing work and other home repairs. They offer a lump-sum amount that you pay off monthly over a period of time, often anywhere from one to seven years.

Personal loans typically have fixed interest rates, so you can estimate your costs of borrowing from the start. They’re also usually unsecured, meaning you don’t have to put up any collateral. Instead, a lender bases approval on your financial profile, including your credit score and income. The credit score needed to finance a plumbing project with a home improvement loan will vary by lender, with some accepting scores of 620 and up. For the best interest rates you’ll likely need a score of at least 670.

Interest rates may start around 6% or 7% but can go as high as 36%. Less creditworthy borrowers may also have to pay an origination fee that could range from 1% to 15% of your loan amount.

Home improvement loans for financing plumbing repairs are available from banks, credit unions, and online lenders. You can often prequalify for loan offers online, a quick process that lets you compare your estimated interest rates without impacting your credit score.

2. Plumbing Company Financing Plans

Some plumbing companies offer in-house plumber financing options to their customers. They often partner with a third-party lender to provide this financing and may have special incentives, such as 0% APR for a period of time or deferred payments.

The application process may be quick and convenient, but you’ll typically have to meet credit and income requirements to qualify. Make sure you’re familiar with the terms of the deal too, since your interest rate or payments could shoot up when a promotional period ends.

It’s also important to review the terms of your agreement for any fees that could add to your costs of borrowing. If you can snag a good deal, a plumbing company financing plan could be an affordable option, especially if you can pay off the loan in a short period of time.

If the company offers plumbing financing for bad credit, be cautious of high interest rates and fees.

3. Home Equity Loans or HELOCs

Homeowners can also consider borrowing against the equity in their home with a home equity loan or home equity line of credit (HELOC). Lenders let you borrow up to 90% of your home equity.

There aren’t plumbing loans specifically, per se. But home equity loans offer a lump-sum amount upfront, whereas a HELOC is a revolving line of credit that you can access as needed for plumbing issues. Both loan types can be used for any purpose. They offer competitive interest rates, large loan amounts, and lengthy repayment terms as long as 20 or 30 years. Interest on home-equity-related financing is also often tax deductible, provided you itemize your tax return.

The potential downside of home equity borrowing is that your house acts as collateral, meaning you risk foreclosure if you can’t pay back your home equity loan or HELOC. The application process can also take several weeks and require a good amount of documentation, and in some cases a home appraisal.

4. Government Programs and Incentives

You may qualify for a government program or incentive that can help cover the cost of plumbing repairs. Some examples include:

•   FHA Title I loans: These are government-backed loans you can use toward home improvements, such as plumbing upgrades. Loans up to $7,500 don’t require you to use your home as collateral.

•   Energy-efficiency rebates or tax credits: You might qualify for federal or state incentives if you install a high-efficiency water heater or make other upgrades that reduce your water or energy use.

•   Local grants or low-interest loans: Look for city or state programs that help homeowners finance home repairs. These are often reserved for low-income borrowers.

•   USDA rural development loans: The USDA offers low-interest loans for eligible homeowners in rural areas to make plumbing improvements and other home repairs.

Government programs may offer subsidized financing or grants to help with critical home repairs or energy-efficient upgrades. They often have strict eligibility requirements and may require a lengthy application process.

Because of this, they may not be practical for urgent plumbing issues, but they’re worth exploring if you could qualify. Along with doing your own research, ask your plumbing company if it can connect you with any rebates or other incentives.

How Plumbing Financing Works

While the fine print can vary, plumbing financing often works like this:

1.    Estimate your project costs: Get a quote from a licensed plumber so you can determine how much financing you need. If timing allows, get quotes from a few plumbers so you can find the best deal. Make sure you keep track of costs as you pay them, because records of significant home improvements can be useful when it comes time to sell your home.

2.    Choose your financing option: Compare home improvement loans, plumbing company plans (if available), home equity options, and government programs to determine the best financing options for your needs.

3.    Fill out an application: Apply for financing by providing your personal information, proof of income, and other details or documentation. Lenders often run a hard credit inquiry to check your credit.

4.    Wait for lender approval: A lender will review your application and issue an approval decision, along with your interest rate and terms. You may get to choose a loan repayment term that best fits your budget.

5.    Receive your funds: The lender may send the funds to you directly or pay off your plumber.

6.    Pay back your loan: Read over your loan contract to find out when your first payment is due. You’ll often pay the loan back on a monthly basis, plus accrued interest charges.

Which Plumbing Financing Option Is Best For You?

There’s no one-size-fits-all approach to plumbing financing; the best option depends on factors like your credit score, the size of your project, and how quickly you need to get the work done. Here are some considerations to help you choose:

•   Consider a home improvement loan if: You need funding fast and don’t want to use your home as collateral. It can also make sense if you have strong credit and can qualify for a competitive interest rate and low or no fees.

•   Consider plumbing company financing if: You qualify for special incentives, like a promotional period of 0% APR, and can pay your balance off quickly. This option may be the most convenient, but it’s still worth shopping around on your own with lenders to find the most affordable loan.

•   Consider a home equity loan or HELOC if: You have sufficient equity in your home and are confident you can pay back what you borrow. This option may be best if you’re not facing an emergency plumbing problem and want cash available to fund a range of home projects.

•   Consider government programs or incentives if: You meet eligibility requirements, which may include a certain income level or geographic location.

The Takeaway

You have several potential plumbing financing options available if you need help covering the costs of your plumbing job. Which one you should opt for will depend on how quickly you need the funds. A home improvement loan, which is a type of personal loan, can often provide money quickly if you have urgent repair needs. Spending a little time to compare your options can help you find the most affordable financing available to you. Before taking out a loan, shop around to find an offer with a low interest rate and manageable repayment terms.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

SoFi’s Personal Loan was named a NerdWallet 2026 winner for Best Personal Loan for Large Loan Amounts.

FAQ

Can I get financing for plumbing repairs with bad credit?

You may qualify for plumbing financing with bad credit, but you could face higher interest rates and fees. Some lenders let you apply with a cosigner or co-borrower, which could improve your chances of approval or help you qualify for a better interest rate.

How fast can I get approved for plumbing financing?

The approval timeline for plumbing financing varies by lender and financing type. You may get approved the same day you apply for a personal loan or in-house financing. Applying for a home equity loan, HELOC, or government program, on the other hand, can take several weeks due to underwriting requirements, including more documentation and an appraisal.

Is plumbing repair financing available for renters?

Renters can access some types of financing for plumbing repairs, such as personal loans, plumbing company financing plans, and credit cards. However, they wouldn’t qualify for homeowner-focused financing, such as home equity loans and HELOCs. Generally, landlords are responsible for paying for plumbing repairs, not their tenants.

Are plumbing loans tax-deductible?

The interest paid on personal loans is not tax deductible, but interest paid on home equity loans and HELOCs may qualify for a tax deduction for the 2026 tax year if you itemize your return.

Do all plumbers offer financing?

Not all plumbers offer financing. Those that do often partner with lenders to provide third-party financing. Whether or not your plumber offers a plumbing repair financing plan, you can still shop around with lenders on your own to find your most affordable home improvement loan offer.

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