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Q: Is it legal for colleges to withhold transcripts?

As of July 1, 2024, a new regulation from the Department of Education states that colleges can’t hold transcripts for courses that students paid for using federal aid. This rule applies whether the student has an unpaid balance, like campus parking fines, or a defaulted federal student loan.

Nov

2024

Can a College Withhold Transcripts?

By Jennifer Calonia | Going to College, Student Loans, student_loan | Comments Off

Your college transcript is an official record of your academic progress. It’s a vital document that may be used to verify the advanced education you completed when you’re transferring to a new school or securing employment. However, until recently, some colleges would withhold transcripts if a student owed them money.

That practice changed in July 2025, when the Department of Education finalized a regulatory provision to provide students with greater protections regarding academic transcript withholding.

Learn more about how the new regulation works and what it might mean for you.

Key Points

• New federal regulations limit colleges from withholding transcripts for courses paid with federal aid, effective as of July 2025.

• Transcript holds can delay students’ further education, job prospects, and professional exams.

• Additionally, some states have banned or restricted transcript holds, and others have pending legislation.

• Colleges may still hold transcripts for non-federal aid debts, but many are moving away from this practice.

• Students can negotiate with institutions to release transcripts despite unpaid balances.

Legal Considerations

Before the new regulatory change went into effect, many colleges would withhold transcripts as a way to try to collect unpaid debts a student owed. The Consumer Financial Protection Bureau (CFPB) flagged the practice as a debt collection strategy that harms former students, both academically and for long-term earning potential.

Federal and State Laws

On October 31, 2023, the Department of Education published its final rule changes under the Higher Education Act of 1965. Among the changes was one that limits colleges that administer Title IV federal aid, including federal student loans, federal grants, and work-study programs, from transcript withholding practices.

The new provision states that colleges cannot hold transcripts that include credits a student paid for using federal financial aid.

For example, let’s say you’re a graduate of a college that administered federal financial aid to you while you were enrolled, and you used your financial aid award to pay for school courses. In this scenario, you’re entitled to receive an official transcript of any credits or hours that were paid for by federal money.

The new provision also states that colleges can’t withhold transcripts due to an unpaid debt that resulted from misconduct or fraud at the institution or an error in the way the school administered the federal aid.

Some states have already banned or restricted college transcript holds. According to a 2025 survey by the American Association of Collegiate Registrars and Admissions Officers (AACRAO), the following states restrict — or completely prohibit — colleges from withholding students’ transcripts:

• California

• Colorado

• Connecticut

• District of Columbia

• Illinois

• Indiana

• Louisiana

• Maine

• Maryland

• Minnesota

• New York

• Ohio

• Oregon

• Washington

Additionally, as of June 2025, six states (Massachusetts, Missouri, New Jersey, Oklahoma, Texas, and Virginia) have pending legislation that restricts academic institutions from holding transcripts from former students.

Challenges for Colleges and Universities

When the regulation changes were announced in October 2023, it was unclear how colleges would respond. The regulation explicitly prohibits transcript holds only for courses students paid for using Title IV federal funding. Therefore, institutions could technically choose to withhold course and credit information that was paid for using non-federal aid and provide the student with a partial transcript instead.

However, schools likely would have a difficult time separating which courses students paid for using Title IV funds versus other financial sources, such as private student loans. A 2025 Transcript Hold Regulation Impact survey by the AACRAO and Ithaka S+R, a higher education research firm, found that 77% of institutions surveyed said they would not implement a partial transcript policy. Furthermore, 69% of colleges said they would stop using transcript holds as a means of recouping students’ unpaid balances.

Recommended: Student Debt by Major

Common Reasons for Transcript Holds

Colleges and universities have typically withheld transcripts for various reasons. An official transcript might be withheld due to unpaid tuition and fees, past-due library fines, or campus parking citations. A transcript could also be withheld due to disciplinary actions resulting from a violation of the school’s code of conduct.

A student’s unpaid debt doesn’t have to be in the thousands, or even hundreds, of dollars for institutions to hold back transcripts. A study by the AACRAO and Ithaka S+R found that 64% of colleges withhold transcripts because of unpaid balances that are less than $25.

Impact on Students

Not having timely access to academic transcripts can result in delayed or missed opportunities for students in furthering schooling or in their careers.

Career and Education Consequences

Ramifications caused by a withheld transcript could be significant and might include:

• Prevent or delay a student’s admission into a new school. Without their transcript, students who want to transfer to a new school or continue their education later in life will have a harder time proving the academic credits they’ve earned. Not being able to access official transcripts can prevent them from admission entirely or result in having to retake courses.

• Derail potential job prospects. Certain professions require proof that you’ve completed specialized courses related to your career field. Having transcripts withheld can jeopardize job prospects that might unlock lucrative career opportunities.

• Disqualify students from participating in professional exams. Some professional exams, like the American Bar Exam, require official college transcripts in order for students to take the test.

Financial Implications

A withheld transcript can also cost a student money.

• Can impact future financial aid. Not having access to official transcripts due to an outstanding balance might make it difficult for students to apply for grants and scholarships that require a transcript for eligibility verification. Additionally, students whose transcripts were withheld due to a defaulted federal student loan would be ineligible for a new federal loan.

• Can result in further financial inequity for under-represented groups. Advocates of the new federal regulation to limit transcript holds stated that the practice greatly impacts students who are already disadvantaged in the higher education system. This includes low-income students, first-generation college students, and students of color.

Recommended: Student Loan Forgiveness Guide

Strategies for Obtaining Withheld Transcripts

If you were denied your official transcripts and aren’t protected by the new Department of Education rule, there might still be a way for you to get your transcripts.

Negotiate with the Institution

It’s worth seeing whether you and your former school can find middle-ground when it comes to releasing your transcript. For example, you could offer to pay a portion of your unpaid balance now, in exchange for your transcripts, and agree to repay the reminder by an agreed upon date. A student loan payment calculator may be helpful in figuring out what you can afford.

The school administrator might also be willing to make an exception if you’re facing a hardship that makes paying back the debt difficult. For example, if you’ve been unemployed and a new job opportunity that requires the transcripts can help you regain steady income, the school might agree to work with you since the new job should help you repay what you owe.

Explore Payment Plans

Another approach to potentially unlocking your transcripts is to speak to your school administrator about its payment plan options. Prepare to show proof that you can financially follow through with the payment plan by having pay stubs or other proof of income on hand.

Propose a monthly payment that realistically is aligned with your budget, and a timeline of when you’ll fully repay the debt. As an additional show of good faith, consider offering to have payments automatically withdrawn from your bank account. This isn’t a surefire approach, and the institution may decline your request for a payment plan, but it’s worth exploring.

Alternatives and Solutions

If none of the above methods works for you, there are other options you can pursue.

• Pay what you owe. Find out how much your unpaid debt to the school is. If the amount is within your means, consider paying it and getting out of student loan debt to avoid delays if you need access to your transcripts.

If your loan payments are challenging to make, you might want to consider refinancing student loans. With refinancing, you replace your old loans with a new private loan, ideally one with lower interest rates and more favorable terms. This could make it easier to manage your payments. Just be aware that refinancing federal loans means they are no longer eligible for federal programs and benefits.

• Request an unofficial transcript. In some cases, such as when an employer wants to verify that you took a particular college course, an unofficial transcript from your school might suffice.

• Submit a complaint. If your college is withholding your transcripts because you owe money, but you believe you’re protected under the new transcript withholding provision, you can file a complaint with the CFPB.

The Takeaway

The new regulation by the Department of Education regarding the withholding of college transcripts is a win for the millions of students who use Title IV federal financial aid to fund their education. These students are now generally protected from colleges withholding their transcripts as a debt collection practice.

However, colleges still have a limited scope in which they can deny transcripts. Students who’ve paid for their education using private student loans, for instance, may find their transcripts withheld if they owe the school money. Students looking for manageable ways to pay off their loan debt — and therefore gain access to their transcripts — may want to explore student loan refinancing, especially if they can qualify for favorable rates and terms that might make repayment easier.

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

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

FAQ

Is it legal for colleges to withhold transcripts?

As of July 1, 2025, a new regulation from the Department of Education states that colleges can’t hold transcripts for courses that students paid for using federal aid. This rule applies whether the student has an unpaid balance, like campus parking fines, or a defaulted federal student loan.

How long can a college withhold transcripts?

A newly enacted federal law limits colleges from holding your transcripts. This rule applies to students who received and paid for their college courses using Title IV funding, like federal Direct Loans and through the federal work-study program.

Can I get my transcript if I owe money to the college?

A new federal regulatory change that went into effect on July 1, 2025 says that students who paid for their courses using federal money have a right to their academic college transcript. However, colleges can hold transcripts due to balances on the student’s account if courses were paid for using non-Title IV aid.

Photo credit: iStock/jacoblund

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

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

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

SOSLR-Q324-035

Nov

2024

How Borrower Defense to Repayment Works

By Nancy Bilyeau | Going to College, Student Loans, student_loan | Comments Off

If you enrolled in a college, university, or career school based on misleading information from the school, or you were the victim of other types of misconduct by the institution, you can apply to the government to have your federal loans forgiven under a process known as Borrower Defense Loan Discharge.

If your borrower defense application is approved, a discharge means you will no longer have to repay your federal student loans. In some cases, you may also see reimbursement for federal loans you’ve paid up to now, including interest on the loans.

Key Points

• Borrower Defense Loan Discharge potentially offers federal student loan forgiveness if a college, university, or career school misled students or engaged in misconduct. Students must apply and be approved.

• Eligibility criteria for borrower defense include substantial misrepresentation on the part of the school, omission of fact by the school, breach of contract, aggressive recruitment, or legal judgments against the school.

• The application process involves creating a StudentAid.gov account, describing the misconduct, and explaining its impact on educational and financial decisions.

• Challenges of applying for borrower defense include meeting the eligibility criteria, documenting the harm done by the school, and a lengthy decision process that can take up to three years.

• If approved, a student may get partial or full loan forgiveness and reimbursement of payments.

Understanding Borrower Defense to Repayment

The Borrower Defense to Repayment program has made a difference for a great many people. As of October 2024, the Department of Education (DOE) had forgiven $28.7 billion worth of debt for more than 1.6 million borrowers who were cheated by their schools, saw their institutions precipitously close, or were covered by related court settlements.

Borrower defense discharges apply only to federal student loans that are Direct Loans or can be consolidated into a Federal Direct Consolidation Loan, including Federal Family Education (FFEL) Program loans, Federal Perkins Loans, and Parent Loans for Undergraduate Students (PLUS).

Borrower defense discharges don’t apply to private student loans.

Definition and Purpose

Borrower defense loan discharge, which is sometimes shortened to “borrower defense” or “borrowers defense,” is a federal regulation that allows students who can demonstrate that they have been defrauded by their schools to get forgiveness of their debt.

According to the formal definition of borrower defense, people can apply who were “enrolled in a school or continued to attend a school based on misleading information from the school or other misconduct covered by the regulation, and suffered a detriment that is of a nature and degree warranting a full discharge of their applicable federal loans.”

Historical Context and Recent Developments

Borrower defense began in the 1970s. At that time, the federal government created an interagency committee to examine and address the growing problem of “educational abuses.” An amendment to the renewal of the Higher Education Act in 1993 codified borrower defense to repayment into the Act.

The law gives the Secretary of Education the power to determine when and under what circumstances valid defenses against repayment of federal student loans can be granted.

The Department of Education received a modest number of borrower defense claims in the 20th century. However, in the last 20 years, borrower defense has gained prominence. An official administrative process for borrower defense was created after the 2015 collapse of Corinthian Colleges, which affected tens of thousands of students.

The most famous borrower defense case is a class-action suit known as Sweet v. Cardona (formerly Sweet v. DeVos). On June 22, 2022, the Department of Education and the plaintiffs in the case agreed to a $6 billion settlement. Those payments are still being processed as of late 2024.

Recommended: Student Debt by Major

Eligibility Criteria for Borrower Defense

There are six different grounds that may qualify an individual for a borrower defense discharge under the 2023 Borrower Defense Regulation, which sought to strengthen protections for borrowers. According to the Federal School Aid division of the DOE, the six criteria are:

1. Substantial Misrepresentation

A school makes a substantial misrepresentation when it lies to or misleads students about its educational services, financial charges, or the employability of its graduates, and that information is central to a student’s decision to enroll, stay enrolled, or take out loans.

2. Substantial Omission of Fact

A school makes a substantial omission when it suppresses, conceals, or omits important information that a reasonable person would have considered in deciding to enroll, stay enrolled, or take out loans.

3. Breach of Contract

A breach of contract has occurred when you have an agreement with your school and your school does not do what it promised to do in your agreement. The agreement must have been made in exchange for your decision to attend or continue attending, your decision to take out loans, or for funds disbursed in connection with a loan.

Recommended: Do Student Loans Count as Income?

4. Aggressive and Deceptive Recruitment

A school engages in aggressive and deceptive recruitment when it:

• Demands or pressures you into making enrollment or loan-related decisions immediately

• Takes unreasonable advantage of your lack of knowledge about, or experience with, postsecondary institutions, postsecondary programs, or financial aid

• Discourages you from consulting with others before making an enrollment or loan-related decision

• Obtains your contact information through websites or other means that falsely offer assistance to individuals seeking federal, state, or local benefits; falsely advertise employment opportunities; or present false rankings of the institution or its programs

5. Judgment

This means that a judgment has been issued against your school where a court has ruled that your school violated the law. This judgment must be based on your school’s act or omission relating to the making of a loan or on the provision of educational services for which the loan was provided. It’s important to be aware that a settlement is not a judgment.

6. Prior Secretarial Action

You may be approved for a borrower defense discharge based on a decision by the DOE to revoke your school’s provisional program participation agreement or deny its recertification to participate in the federal student aid programs, if that action is based on conduct that could give rise to a borrower defense.

Application Process

When you begin the application process, you’ll be asked to create a StudentAid.gov account so you can submit, review, and manage your borrower defense application online.

Alternatively, you can download a PDF version of the borrower defense application and submit your completed application by mail to the address listed on the application.

According to regulations, your application must meet the “materially complete” standard to be considered. Among the things you will need to provide are:

• A description of what your school did or failed to do that is covered by the kinds of misconduct that qualifies for borrower defense discharge.

• The names of the school or representative of the school that committed the misconduct and when the misconduct occurred.

• How the misconduct impacted your decision to attend the school, to continue attending the school, or to take out the loan for which you are applying for a defense to repayment

• A description of the harm you experienced because of the school’s misconduct.

Under the 2023 regulation, the Department of Education has three years to make a decision on your application after receiving it and determining that it is materially complete. However, the three-year period is paused if your application becomes part of a group application process at any time.

Potential Outcomes

A borrower defense claim can result in full loan forgiveness, partial loan forgiveness, or no loan forgiveness. A refund may include both principal and federal student loan interest. The remaining loan balance may also be discharged, meaning you won’t have to repay it.

However, your request for borrower defense may not be approved. If the evidence does not meet the DOE’s standard, your claim will be denied. You won’t receive a discharge of your federal student loans, and the forbearance or stopped collections period will end for all of your loans. You’ll be responsible for repaying these loans.

Alternatives to Borrower Defense

If you’re trying to get out of student loan debt, and you are denied borrower defense, you may qualify for a deferment or a forbearance. With both of these options, you can temporarily suspend your federal loan payments. However, there is a difference between the two options related to the interest on your loans. In deferment, interest doesn’t accrue on some types of Direct loans, while during a forbearance, interest accrues on all Direct loans.

If you are seeking student loan forgiveness through an income-driven repayment plan over a period of years, there are several programs that exist to help lower your monthly loan payments based on how much money you earn and your family size.

Another route to explore is refinancing your student loan to potentially obtain a lower interest rate or more favorable terms of repayment. When you refinance student loans, you replace your old loans with a new loan from a private lender. It’s important to know that if you refinance federal loans, they will no longer qualify for federal student loan forgiveness.

As you consider different methods to manage your student loan debt, a student loan payment calculator can help you determine what your loan payments might be in various scenarios.

The Takeaway

Borrower defense can be a path to federal loan forgiveness or even repayment for people who can prove misconduct on the part of their school. As of October 2024, the Department of Education had forgiven $28.7 billion for more than 1.6 million borrowers who suffered from misconduct by their schools, saw their institutions precipitously close, or were covered by related court settlements. The application requires proof of misconduct and the harm it caused you, and the Department of Education can take three years to decide whether to approve it.

If you don’t qualify for borrower defense to repayment, there are other options you can pursue for help repaying your student loan debt. These include deferment, forbearance, or student loan forgiveness, if you qualify.

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

FAQ

What types of school misconduct qualify for borrower defense to repayment?

The types of school misconduct that can lead to a successful case includes an institution lying to or misleading borrowers about its educational services, financial charges, or the employability of its graduates.

How long does the borrower defense to repayment process take?

The Department of Education (DOE) has three years in which to review an application for borrower defense. The DOE says, “We have three years to make a decision on your application once we determine that your application is materially complete. The three-year period is paused if your application becomes part of a group claim process.”

Can private student loans be discharged through borrower defense to repayment?

No, private student loans are not eligible for this program. Borrower defense to repayment is only applicable to federal student loans.

Photo credit: iStock/PeopleImages

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.

This article is not intended to be legal advice. Please consult an attorney for advice.

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

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

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

SOSLR-Q324-034

Nov

2024

What to Do if Your College Closes: A Guide for Student Loan Borrowers

By Rebecca Safier | Going to College, Student Loans, student_loan | Comments Off

When you enroll in college, the last thing you expect is for your college to close. College closures are a real possibility, however — according to BestColleges.com, at least 72 public and nonprofit colleges have closed or merged since March 2020, with private nonprofit school closures impacting nearly 46,000 students.

If your college closes, there are steps you can take to transfer to another school or apply for a student loan discharge. Here’s what to do if your college closes and how to handle your student loans.

Key Points

• At least 72 public and nonprofit colleges have closed or merged since March 2020.

• Gather academic records immediately after a college closure to facilitate transfer to another institution.

• Contact federal loan servicers to understand the options, including potential loan discharge and repayment plans.

• Evaluate eligibility for federal student loan discharge through programs like Closed School Discharge and Borrower Defense to Repayment.

• With private student loans, contact lenders to see what assistance they may offer.

Understanding the Impact of College Closure

A college closure can affect your educational progress and your student loans. Here’s what to expect.

Immediate Effects on Your Education

If your college closes, you’ll no longer be making progress toward your degree. Classes may be canceled mid-semester, and you won’t earn the credits you were working toward. If you’re interested in continuing your education, you’ll have to see if your college has a “teach-out” agreement with another school, which is a contract that allows students to finish their program of study with the other school, or if you can transfer your credits to another institution.

Potential Consequences for Your Student Loans

If your college closes, do you still have to pay off your student loans? That depends.

You may be eligible for federal student loan discharge through the Closed School Discharge or Borrower Defense to Repayment program. However, if you accept a “teach-out” plan to complete your degree at another school, you won’t be able to discharge your student loan debt.

There’s also no guarantee that you’ll qualify for a Closed School Discharge or Borrower Defense, and the process may take a while. While you’re waiting, you’ll have to start paying back your student loans once the six-month grace period is over.

If you have private student loans, there is no universal closed school discharge for these loans. Contact your lender to see how they might be able to help you.

Steps to Take Immediately After College Closure

Having your school close unexpectedly can feel like a nightmare, but there are steps you can take to get back on track.

• Gather your school records: Request your school records as soon as possible, especially if you’d like to transfer to another school. These include your transcript, a record of your credits and degree progress, financial aid information, and any other relevant communications you’ve received from your school.

• Find out about “teach-out” options: Some colleges offer a “teach-out” option, which lets you immediately transfer to a different school and pick up where you left off. Make sure to research the new school before you accept this agreement, however, to ensure it has a good reputation and fits your academic and financial needs. Be wary of unaccredited programs, as they may not offer a high-quality education or strong student outcomes.

• Research credit transfers to other schools: You can also explore alternative colleges for finishing up your degree. Consider prioritizing accredited programs, since accreditation suggests that a college meets high standards for quality and is eligible for federal financial aid. Find out if your credits will transfer to the new college so that you don’t have to start from scratch.

• Contact your loan servicers: If you took out student loans, reach out to your loan servicers to notify them about the school closure and find out about next steps. You might find that your loans will enter repayment in six months unless you enrol at least half-time in another school.

• Explore student loan discharge options: You may be eligible for a discharge of your federal student loans if your school closes and you don’t accept a “teach-out” transfer. As previously mentioned, private student loans don’t have as many options, but it’s worth contacting your lender to find out.

Student Loan Discharge Options

Borrowers who experience a college closure may be eligible to have their federal student loans discharged through two programs:

• Closed School Discharge: With this program, you may be able to have your federal student loans discharged if you were enrolled when (or withdrew shortly before) your college closed. New rules to streamline the discharge program were scheduled to go into effect in mid-2023, but due to legal challenges, the Department of Education will process closed school discharge applications under pre-2023 rules.

• Borrower Defense to Repayment: This program offers federal student loan discharge to borrowers who were misled or defrauded by their schools. Qualifying borrowers could also get reimbursed for amounts they already paid toward the loan, and request a removal of negative marks from their credit report. Similar to the Closed School Discharge program, however, the latest borrower defense rules have been blocked by a court injunction. Borrowers can still apply online for Borrower Defense Discharge, but the Department of Education will use old rules to determine eligibility.

Eligibility Criteria for Loan Discharge

To be eligible for the Closed School Discharge program, you must meet the following requirements:

• Your school closed while you were enrolled, on an approved leave of absence, or had withdrawn less than 180 days prior

• You will not be accepting a teach-out agreement or transferring your credits to a new school

• You did not already graduate or complete your program

For Borrower Defense to Repayment, you might qualify if you can prove one of the following about your college:

• Substantial misrepresentation: Your school misled you about its educational services, costs, or another important factor.

• Substantial omission of fact: Your school concealed important information that would have impacted your decision to enroll.

• Breach of contract: Your school did not do what it promised to do in its agreement with you.

• Aggressive and deceptive recruitment: The college pressured you to act immediately on an enrollment or student loan decision or engaged in other aggressive recruitment practices.

• Judgment: A court ruled that your school violated the law.

• Prior secretarial action: The Department of Education revoked a participation agreement or financial aid recertification with your school.

Application Process for Loan Discharge

If you qualify for Closed School Discharge, your loan holder should send you an application that you can submit to your loan servicer. Alternatively, you can contact your servicer directly about how to apply.

If your grace period ends and your application is still under review, it’s a good idea to start making student loan payments. Otherwise, you risk damaging your credit and racking up late fees.

For the Borrower Defense program, you can apply online on the Federal Student Aid website. The application takes about three hours to complete.

You’ll need to sign in with your FSA ID and provide your school name, program of study, and enrollment dates. You’ll also have to give documentation to support your application for Borrower Defense.

But be aware that the process to get a student loan discharge from Borrower Defense is lengthy. According to the Department of Education, it can take up to three years to process and make a decision on your application.

Recommended: Student Debt Analysis by Major

Alternatives to Loan Discharge

Student loan discharge is not guaranteed, especially with the various legal challenges that have cropped up in recent years. Some alternatives to consider include:

• Transfer to another school: You could accept a teach-out plan or transfer credits to another school of your choice to complete your program and earn your degree.

• Pay back your student loans: Explore your options for repayment plans, such as the standard 10-year plan and income-driven repayment, along with these strategies for getting out of student loan debt.

• Pursue loan forgiveness or repayment assistance: You may be eligible for student loan forgiveness or repayment assistance, depending on your profession and where you work.

• Refinance student loans: Through student loan refinancing, you might qualify for a better interest rate or more favorable loan terms than you have now. Avoid refinancing federal student loans if you’re pursuing Closed School Discharge or another federal program, however, as doing so would make them ineligible for federal loan cancellation programs and other benefits.

Long-Term Considerations

Having your school close its doors is an extremely stressful situation, and it’s important to act quickly to obtain your transcript and other academic records. Once you’ve gotten your documents in order, though, take a deep breath and consider what comes next.

You can finish up your degree at another college and continue working toward your academic and professional goals. Rather than accepting a teach-out plan right away, do your own research on colleges and credit transfers to find the best place for you.

If you’d rather press pause on your education, or your credits won’t transfer, explore your options for federal student loan discharge. You’ll need to pay your student loans once your grace period ends, however, or you could end up with damage to your credit score. This student loan payment calculator can help you estimate your monthly and long-term costs.

The Takeaway

If your college closes while you’re enrolled, you may not have to pay your federal student loans thanks to the Closed School Discharge program. Alternatively, you can consider transferring your credits to a new school to finish up your education there.

If neither of these options is right for you, you can pursue loan forgiveness, repay your loans, or opt for student loan refinancing if you can qualify for favorable terms. Review all the alternatives to determine the best path forward for you, your education, and your financial situation.

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

FAQ

Can I transfer my credits to another institution if my college closes?

You may be able to transfer your credits to another institution if your college closes, but it depends on the requirements of the school and program. For instance, some colleges may only accept credits from accredited colleges. Check with your target school to see if the credits you’ve earned so far would be transferable.

Am I eligible for student loan discharge if my school closes?

You may be eligible for federal student loan discharge through the Closed School Discharge program if your school closes. To qualify for this program, your school must have closed while you were enrolled, on an approved leave of absence, or within 180 days after you withdrew.

How do I obtain my academic records from a closed college?

If your college closes, contact school administrators as soon as possible to obtain your academic records. If this isn’t possible, reach out to your state’s agency that oversees higher education for help locating your records. Some schools allow you to order transcripts through the National Student Clearinghouse, so that might be another option for you.

Photo credit: iStock/Unaihuiziphotography

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

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

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

SOSLR-Q324-031

Nov

2024

What Is the Average Student Loan Debt for Veterinarians?

By Rebecca Safier | Fresh Out of School, Student Loans, student_loan | Comments Off

If you’re an animal lover, a career as a veterinarian can be deeply rewarding. However, you may end up with significant student loan debt after earning your Doctor of Veterinary Medicine (DVM). According to the American Veterinary Medical Association (AVMA), veterinary school borrowers owe an average of $179,505 upon graduation.

Debt of this magnitude can take a long time to pay off, but there are programs to help make repayment more manageable. Here’s a closer look at the average vet school debt and costs, plus tips on how to manage your veterinary student loan debt.

Key Points

• Veterinary school graduates face significant student loan debt, averaging $179,505.

• The cost of veterinary school can exceed $200,000 for in-state students and $275,000 for out-of-state students.

• Strategies to manage veterinary student loan debt include income-driven repayment plans, loan forgiveness opportunities, and refinancing.

• Loan repayment programs are available for vets, such as the USDA’s Veterinary Medicine Loan Repayment Program.

• Veterinary graduates have good prospects for employment after graduation and earn an average starting salary of $124,295.

Overview of Veterinary Education Costs

Veterinary school typically spans four years after an individual earns an undergraduate degree and costs an average of more than $200,000 for in-state residents and $275,000 for out-of-state students, according to the Veterinary Information Network Foundation.

The American Association of Veterinary Medical Colleges (AAVMA) found that resident four-year tuition ranges from $78,588 to $259,720. While these figures reflect tuition rates, there are additional costs involved with paying for vet school. These include room, board, transportation, books, and other living expenses.

Non-resident total cost can range anywhere from $235,345 to $480,571, according to the AAVMA.

Current Average Student Loan Debt for Veterinarians

Given the high cost of veterinary school tuition, it’s not surprising that vet school debt reaches well into six-figure territory.

National Average Student Debt Figures

The national average student debt among all veterinary school graduates is $147,258. Among veterinary school graduates who took out student loans, the average veterinary student debt is higher at $179,505.

For some of these graduates, student loan refinancing might be an option worth considering to help make repaying your vet school debt more manageable, especially if you can qualify for lower interest rates and better loan terms.

Comparison to Other Medical Professions

While the average veterinary student debt is high, it’s not the highest among medical professions. Here’s how veterinary debt compares to the average debt of a bachelor’s degree and other medical programs.

Program	Average Debt
Bachelor’s	$29,400
Pharmacy school	$170,444
Veterinary school	$179,505
Medical school	$206,924
Dental school	$296,500

Recommended: Student Debt by Major

Factors Influencing Veterinary Student Loan Debt

The main factors influencing the average student debt for veterinarians are the high cost of veterinary school, the price of room and board, and in-state vs. out-of-state tuition rates.

Cost of Veterinary School

Four years of veterinary school can cost more than $200,000 for in-state residents and over $275,000 for out-of-state residents. The majority of veterinary students (about 82%) borrow student loans to cover costs.

Some factors that can influence how much you’ll pay to become a veterinarian include:

• In-state vs. out-of-state tuition rates: Tuition rates are lower at public veterinary schools for in-state residents and higher for out-of-state residents. The highest costs are generally at private veterinary schools.

• Cost of living in your location: Along with tuition and fees, you’ll have to factor in living expenses. These expenses could be a lot higher in an urban area than a rural one and can vary widely depending on where your school is located.

• Room and board: Costs for housing and food are another major expense. You might save money by commuting or sharing an apartment with roommates, as well as by buying your own groceries over a university meal plan.

• Grant and scholarship availability: Grants and scholarships can help defray the costs of veterinary school and don’t have to be repaid, but they can be competitive. Apply to as many opportunities as you can to try to access this gift aid for school. Don’t forget to submit the Free Application for Federal Student Aid (FAFSA), which gives you access to federal financial aid.

• Personal savings: If you have savings you can put toward veterinary school, such as money in a 529 college savings plan, you may not have to borrow as much in student loans.

Trends in Veterinary Student Loan Debt

Although veterinary school debt is high, it’s lower than it was a few years ago. The average student debt for all graduates is down by more than 6% from 2020. Among student loan borrowers, it’s down 5% from 2020.

Debt-to-income (DTI) ratios have also improved somewhat, meaning that veterinary graduates are slightly better able now to pay off their student loans. The average debt-to-income ratio was 1.44 for 2022 graduates who started working full-time, a more manageable DTI than the 1.7 ratio among the 2021 cohort.

Impact of Student Loan Debt on Veterinarians

Although student loan debt can be a major financial burden for veterinarians, it’s not their top motivating factor when choosing an offer of employment. According to an AVMA survey, most new graduates (85%) said they chose the job they did for its mentorship opportunities.

After that, the top reasons for selecting an employment offer were location, people, and compensation.

Career Choices and Specializations

Veterinarians have good prospects for employment after graduation, with 95.7% receiving an offer for a job or position in advanced education after leaving school. Most graduates go into private practice, followed by internships and then public practice.

• Private practice: 68.9%

• Internships: 24.6%

• Public practice: 2.4%

Among private practice veterinarians, most chose to work with companion animals (56%), followed by mixed animal practice (9%), food animal practice (2%), and equine practice (1%).
The average starting compensation was $124,295 among veterinary graduates who got a full-time job.

This is how much a veterinarian makes on average, broken down by job type:

• Private practice: $125,416

• Public practice: $87,417

• Residencies: $46,186

• Internships: $53,266

Some veterinarians also scored additional compensation in the form of signing bonuses and other benefits:

Benefit	Percentage that received benefit	Average benefit amount
Signing bonus	64%	$19,777
Moving allowance	37%	$5,688
Student loan repayment	16%	$15,628
Housing allowance	3%	$11,464

Strategies for Managing Veterinary Student Loan Debt

If you owe veterinary student loans, here are some techniques to make it easier to repay your debt.

• Explore loan forgiveness and repayment assistance programs: You may qualify for student loan assistance from a federal or state program, depending on where you work. For instance, the Public Service Loan Forgiveness program is available to vets working at shelters, zoos, aquariums, as military vets, or in other public service jobs. The USDA’s Veterinary Medicine Loan Repayment Program offers up to $25,000 in student loan help each year for three years to vets working in shortage areas. This student loan forgiveness guide can help you discover other forgiveness opportunities that may be available to you.

Some states also have student loan repayment assistance programs (LRAPs) for veterinarians who work in a high-need area. Unlike federal programs, state LRAPs may offer assistance toward both federal and private student loans.

• Compare repayment plan options: If you owe federal student loans, you have several repayment plans to choose from, including the standard 10-year plan, the extended 25-year plan, and income-driven repayment plans. Income-driven plans can be helpful if you need to adjust your monthly payments in accordance with your income. They can also end in loan forgiveness if you still owe a balance after 20 or 25 years.

• Make extra loan payments to get out of debt faster: If you can afford it, making extra payments on your veterinary student loan debt can speed up repayment. It can also save you money on interest, which can be especially helpful now because federal student loan interest rates have increased over the past four years. The rates are higher for the 2025-2026 school year than they have been in previous years.

• Look into student loan refinancing: Refinancing your student loans may help you get a better interest rate if you qualify, which could save you a significant amount of money on your loans. You’ll also get the chance to combine multiple loans into one loan and select new repayment terms. Keep in mind, though, that refinancing federal loans turns them private, meaning you’ll forfeit access to federal benefits and programs.

The Takeaway

Working as a veterinarian is an exciting career choice with solid employment prospects, but earning your degree comes with costly tuition and potentially high student loan debt. If you end up borrowing student loans, consider strategies for managing your debt, such as income-driven repayment, student loan assistance programs, or refinancing student loans for better rates or terms if you qualify for them.

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

FAQ

What is the current average student loan debt for veterinarians?

The current average student debt for veterinarians is $147,258 among all graduates and $179,505 among graduates who took out student loans.

How long does it typically take to repay student loans for veterinary school?

It can take a decade or longer to repay student loans for veterinary school. The standard repayment plan spans 10 years, and alternative repayment options may last 20 or 25 years. You can look into loan forgiveness programs and loan repayment programs for help repaying your loans if you’re eligible.

Are there loan forgiveness or repayment programs specifically for veterinarians?

There are loan repayment programs specifically for veterinarians. The USDA’s Veterinary Medicine Loan Repayment Program is a national program that offers up to $25,000 in student loan repayment each year to vets who work in a shortage area for at least three years. Some states also offer student loan repayment assistance programs to qualifying veterinarians. Check with your state to see what’s available.

Photo credit: iStock/Mr Vito

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

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

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

SOSLR-Q324-029

Nov

2024

15 Scholarships for Hawaiian Students to Apply for in 2025-26

By Marcy Lovitch | Student Loans, student_loan | Comments Off

Finding the right financial aid can make all the difference when pursuing higher education. For Hawaiian students, there are numerous scholarships available for the 2025-26 academic year, specifically designed to support your educational journey.

Whether you’re seeking aid based on academic performance, financial need, or cultural background, these scholarships offer valuable opportunities. If you have a Native Hawaiian lineage, here are 15 prominent scholarships you may want to apply for.

Key Points

• Scholarships are available for Hawaiian students based on both financial need and academic excellence, ensuring opportunities for a wide range of applicants.

• Many scholarships for Hawaiian students emphasize cultural preservation and support individuals who demonstrate a commitment to their Hawaiian heritage.

• Some scholarships target students pursuing degrees in specific fields such as health care, education, and environmental sciences.

• Scholarships are available for high school seniors, undergraduates, and graduate students, offering assistance at different stages of education.

• In addition to scholarships, Hawaiian students can apply for grants, federal student loans, and private student loans to help pay for college.

Scholarships for Native Hawaiians

Scholarships are essentially free money from different organizations, groups, or institutions to be used toward your education. Since these are awards, the money doesn’t need to be paid back. They can help make affording college easier and may even eliminate the need to apply for federal or private student loans.

Below you’ll find some of the more commonly touted Native Hawaiian scholarship opportunities. However, this list is only partial, and you can find others through the Hawai‘i Community Foundation, the Office of Hawaiian Affairs, and by using SoFi’s scholarship search tool. You can also register for a chance to win a $2,500 SoFi Scholarship simply by entering your name and email address.

Here are the top 15 scholarships you can consider applying for if you are of Hawaiian ancestry:

1. Native Hawaiian Chamber of Commerce Scholarship

Sponsored by the Native Hawaiian Chamber of Commerce, this scholarship is geared toward students pursuing study in the area of business administration at an accredited two- or four-year college institution in Hawaii or the continental U.S.

Applicants for this must exhibit interests in the Hawaiian language, culture, and history, and have a commitment to contribute to the greater community.

2. Native Hawaiian Health Scholarship Program

The Native Hawaiian Health Scholarship Program (NHHSP) is a merit scholarship given to students seeking a degree in the field of healthcare. Some of the health professions include physician, nurse, dentist, clinical psychologist, dietitian or nutritionist, and social worker, among others. It’s important to note the eligible health professions may change each year.

Native Hawaiian students enrolled full-time at an accredited college or university in Hawaii can apply. Recipients who receive an NHHSP award are obligated to work full-time in medically underserved areas in Hawaii for a minimum of two years and a maximum of four.

Along with covering the student’s tuition and other education-related costs, the scholarship provides a monthly stipend for their full-time work requirement in their health care discipline.

3. Second Century Scholarship

The Second Century Scholarship is an award available to all Native Hawaiians attending any of the 10 campuses and educational centers within the University of Hawaii system. Since the scholarship is need-based, students who apply need to show they qualify for the requisite amount of financial aid.

Award amounts differ and are determined by the applicant’s financial need and the availability of funds. Native Hawaiian students can apply for financial aid through their campus financial aid offices. All regular financial aid deadlines apply.

4. Jean Ileialoha Beniamina Scholarship for Ni‘ihau Students Fund

A need-based scholarship, the Jean Ileialoha Beniamina Scholarship for Ni‘ihau Students Fund is for students who reside on either Kaua‘i or Ni‘ihau Island. Current Ni‘ihau residents or Kaua‘i residents who are one or two generations removed from Ni‘ihau Island are given preference, along with those students who are proficient or fluent in the Hawaiian language.

5. Blossom Kalama Evans Memorial Scholarship Fund

The Blossom Kalama Evans Memorial Scholarship Fund is sponsored by the Hawai‘i Community Foundation, which has over $7 million dollars a year available for scholarships from more than 300 funds.

College juniors, seniors, or those going on to grad school can apply. Applicants must be a resident of Hawaii and attend college in the state. Preference is given to those students who major in Native Hawaiian or Hawaiian studies.

6. Prince Kūhiō Hawaiian Civic Club Scholarship

The Prince Kūhiō Hawaiian Civic Club, an organization dedicated to the preservation and perpetuation of Hawaiian values, culture, and education, sponsors scholarships open to a variety of students pursuing degrees or certificates.

Preference for these awards are given to Hawaiian students that have engaged in community service or volunteer work, along with individuals pursuing degrees in the Hawaiian language, culture, studies, journalism, or education.

In addition, there is a vocational scholarship program for students who live in Hawaii. Applicants need to be enrolled at least part-time in a vocational degree program, including associate degrees, or a certification program on a list of their approved educational institutions and approved programs in Hawaii.

7. Warren Nakupuna Ah Loo Memorial Scholarship

This merit-based prize, named for the late civil servant Warren Nakupuna Ah Loo, is funded by the Nakupuna Foundation, a nonprofit committed to the advancement of the Native Hawaiian community.

Created for high school graduates or anticipated graduates from one of Hawaii’s Kamehameha Schools, the Warren Nakupuna Ah Loo Memorial Scholarship is designed to support students attending college anywhere in the U.S. who are pursuing studies in STEM (science, technology, engineering, or math).

8. Rosemary & Nellie Ebrie Scholarship

This scholarship, also sponsored by the Hawai‘i Community Foundation, is for Native Hawaiians who were born and currently reside on the island of Hawai‘i, otherwise known as the Big Island.

Applications for the Rosemary & Nellie Ebrie Scholarship are open to undergraduate and graduate students who demonstrate financial need.

9. Asian & Pacific Islander American Scholarship Program

Asian & Pacific Islander American (APIA) Scholars offers a range of scholarships for students who identify as Asian, Native Hawaiian, or Pacific Islander. These awards are for undergraduate students who are already attending a U.S. accredited college or university, and range from $2,500 for one-year awards to $20,000 for multi-year awards.

APIA scholarships give special focus to those students who live at or below the poverty level and are first-generation college students. Applicants also must be a citizen, national, or legal permanent resident of the U.S.

How Do I Know if I’m Eligible for Native Hawaiian Scholarships?

The term Native Hawaiian refers to a person with origins in the aboriginal, indigenous people who settled in Hawaii, founded the Hawaiian nation, and exercised sovereignty over their territory. A Native Hawaiian person is also considered to be a Pacific Islander, which refers to those people from Polynesian, Micronesian, and Melanesian cultural backgrounds.

It’s important to note people who are born in Hawaii but don’t have any ancestral links aren’t considered to be Native Hawaiians.

Scholarships for Native Hawaiian Women

If you’re a Native Hawaiian woman, you have the opportunity to apply for scholarships specifically created to support your educational pursuits. These scholarships include:

1. Ida M. Pope Memorial Scholarship

Women of Hawaiian ancestry can apply for the Ida M. Pope Memorial Scholarship through the Hawai‘i Community Foundation. This scholarship is set up to benefit a female student pursuing a career in the field of health, education, or STEM. Applicants need to demonstrate financial need, be a resident of Hawaii, and enroll as a full-time student.

2. Ka‘ehu Scholarship Fund

Another women-only scholarship offered through Hawai‘i Community Foundation, the Ka‘ehu Scholarship Fund, is for female-identifying students working toward earning an undergraduate or graduate degree.

The need-based award gives preference to women of Hawaiian ancestry that identify as LGBT and have participated in community service, clubs, and/or high school athletics.

3. AAUW Honolulu Branch Education Funds

The American Association of University Women (AAUW) promotes equity and education for women and girls. The Honolulu branch of AAUW offers need-based scholarships for Hawaiian female undergraduate students who already have some college credits.

The AAUW Honolulu Undergraduate Scholarship is for women who have already completed some college (a minimum of 12 credits), but had to halt their education for certain life circumstances. For this reason, the application is open to those who are 21 or older.

Female students must already be accepted or enrolled as a full- or part-time undergraduate in a college, community college, university in Hawaii, or online program from a regionally accredited public or private not-for-profit educational institution. Applicants need to be a Hawaiian resident and demonstrate financial need.

AAUW Honolulu also has graduate scholarships that are offered and administered through the Hawai‘i Community Foundation.

4. The Betty Bell Scholarship for Kauai Women

Established in 2020, the Betty Bell Scholarship for Kauai Women benefits women from the island of Kauai who demonstrate a strong work ethic and may not normally have the opportunity to go to college.

The prize is named after Betty J. Bell, the first licensed pharmacist on the island of Kauai, who was a strong advocate for women, especially for those who wanted to achieve their career dreams. Her namesake scholarship prioritizes working mothers, as well as women who are returning learners who had started college but didn’t get to complete their degree.

The scholarship is administered through the Hawai‘i Community Foundation, and applicants must be a resident of Kauai Island and demonstrate financial need.

5. Ka’iulani Home for Girls Trust Scholarship

A need-based scholarship, the Ka’iulani Home for Girls Trust Scholarship supports female students of Hawaiian ancestry who are full-time college freshman or sophomores.

Women must be of Hawaiian ancestry, residents of Hawaii, and attend an accredited, two- or four-year, not-for-profit college or university within the Aloha state.

Recommended: 10 Popular Scholarships for Women

Can I Get a Scholarship for Being Hawaiian?

Yes, there are many scholarships for those who are of Hawaiian ancestry as well as for individuals who are Hawaiian born and residents of the state.

How Do I Get a Hawai’i Promise Scholarship?

If you are planning to attend one of the University of Hawaii’s seven community colleges, you can apply for a Hawai’i Promise Scholarship. This scholarship offers money from the state of Hawaii, along with the University of Hawaii, to provide qualified students with all of their direct education costs (tuition, books, fees) that aren’t met by other forms of financial aid.

In 2023, almost $3.8 million was awarded to 1,774 eligible students in the UH Community College system, with the average award per student equaling $2,142.

To qualify for a Hawai’i Promise Scholarship, you’ll need to be enrolled in at least 6 credits per semester at a UH Community College, be a resident of Hawaii, and complete the Free Application for Federal Student Aid (FAFSA). You’ll then be notified by your campus if you’re eligible for the scholarship.

Recommended: Important FAFSA Deadlines to Know

What Is Native Hawaiian Exemption Tuition?

Students who can show proof of their Native Hawaiian ancestry may be able to get a Native Hawaiian Tuition Waiver. Those who apply must have a financial need based on information given on the FAFSA form.

The waiver applies to part of your tuition (not fees) and you must be at least a part-time student (6 credits) and attending an institution within the University of Hawaii system.

Recommended: What Is Need-Based Financial Aid?

The Takeaway

There are a multitude of scholarship opportunities available for Native Hawaiians, aka people who are of Hawaiian ancestry. Scholarships for Native Hawaiians can be need- or merit-based and are open to undergraduate, graduate, vocational students, and community college attendees. Since competition for scholarships can be fierce, being able to apply for specific scholarships can give a Native Hawaiian student a major leg up when it comes to paying for college.

Other ways to pay for college include cash savings, grants, federal student loans, and private student loans.

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

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

If I was born and live in Hawaii, does that make me a Native Hawaaian?

Not necessarily. A Native Hawaiian is a person who is a descendant of one of the original Polynesian settlers in Hawaii. You can be a Native Hawaiian and not live in Hawaii, or even not have been born there, but you must have indigenous ancestry.

Do you have to live in Hawaii to be eligible for a scholarship?

It depends. Some Native Hawaiian-specific scholarships require the applicant to be a Hawaiian resident, but it’s not always a prerequisite.

How much does it cost to go to school in Hawaii?

The average cost for tuition and fees for a four-year college program is $7,723 for in-state students and $20,995 for out-of-state students. Tuition for private colleges or universities in Hawaii clocks in at $17,121.

Photo credit: iStock/davidf

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.

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

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

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

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