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While applying to college, students and parents may consider a variety of factors before enrolling. Those factors could include a school’s academic programs, location, sports programs, tuition, and potential financial aid.

But there is one more thing families may want to think about: A college or university’s endowment. Not familiar with the term?

Here’s helpful information about university endowments, how they work, how they are managed, which schools have the largest ones, and how those university endowments could potentially benefit students.

What Is an Endowment?

A university endowment refers to the amount of money a college or university receives via donations from its alumni or other interested parties. This money is then invested by the academic institution to help grow its savings and to provide funding for the future.

Some schools can have endowments well into the billions made up of potentially hundreds or thousands of individual gifts.


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Types of Endowments

Not every university uses the same endowment system. Typically, a university has one of four types of endowments. Those include unrestricted endowments as well as term, quasi, and restricted endowments.

An unrestricted endowment means the university may choose to spend or distribute the donations it receives however it wishes. With a restricted endowment, the academic institution must hold the principal of the invested donation in perpetuity.

With a restricted endowment, the academic institution must hold the principal of the invested donation in perpetuity. The earnings from the invested assets can be used, but only at the donor’s specifications at the time of giving. For example, if a donor gives a $25,000 donation specifically earmarked for a scholarship, any principal earnings must be used on the scholarship.

A term endowment means a university can use the principal after a period of time has passed or if a specific event occurs. With a quasi endowment, the university (rather than a donor) decides to retain, invest, and use earnings for a specific purpose.

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How Does University Endowment Giving Work?

If a person wants to donate to their alma mater, or just give to the academic institution of their choice, they can do so at any time. With a standard donation, however, the donor typically does not have much, if any, control over how the funds are spent.

If a donor wants control over how their donation will be used, they may prefer to give via endowment. Colleges and universities typically set a minimum when it comes to endowment gifts, and those minimums can be quite hefty.

For example, Michigan State University’s law program endowments begin at $50,000. Other universities set different minimum funding levels for different types of endowments.

At the University of Illinois Springfield, for instance, you can create an “endowed” scholarship for $25,000. You can even name the scholarship fund, perhaps in honor of a family member or someone you admire.

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Who Manages a University Endowment?

Every school decides how to best manage its own endowment. Some colleges and universities hire internal staff to manage their endowments while others hire outside firms and professional investors to oversee the money.

There may be an endowment manager or a committee or team that works to manage the funds. They will generally work with the university to decide its goals for the endowment, such as making as much income as quickly as possible, or going for more long-term sustainable growth. Then, decisions about how and where to invest the money are made to help the endowment meet its goals.


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Which Universities Have the Largest Endowments?

According to US News and World Report, Harvard University has the largest endowment at around $50.7 billion. Yale University comes in a distant second with roughly $40.7 billion, and Stanford University comes in third with approximately $36.5 billion.

Princeton University comes in at number four with $33.4 billion and Massachusetts Institute of Technology rounds out the top five with $23.5 billion.

University of Pennsylvania, Texas A&M University, University of Michigan–Ann Arbor, University of Notre Dame, and Columbia University make up the remaining top 10 with endowments ranging from around $13.6 to $21 billion.

However, these schools can be considered major outliers on the endowment scale. According to a 2024 survey of 658 U.S. colleges by the National Association of College and University Business Officers, the majority of university endowments are $250 million or less; nearly a third of schools reported endowments of less than $100 million.

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How Are University Endowments Used and Why do They Matter?

University endowments can be used for a variety of financial needs, including hiring new professors, building new buildings or upgrading old ones, offering students fellowships or scholarships, and distributing financial aid.

Beyond these uses, endowments also allow colleges and universities to look ahead into the future. It helps schools plan for faculty hiring, stave off tuition increases, plan for new facilities, and more.

Recommended: What Is the Average Cost of College Tuition in 2023?

Taking Advantage of Endowments

While students will never have direct access to a college or university’s endowment, they could still reap the benefits of any and all donations. Those benefits could come in the form of having access to newer facilities and equipment, through research opportunities, or via learning from the highest skilled professors.

Of course, students can also take advantage of a university’s endowment by applying for specific scholarships funded by donors, or by applying for any and all available financial aid to help them pay for college.

The Takeaway

University endowments are donated funds that schools invest to support long-term goals like scholarships, faculty hiring, research, and campus improvements. They come in different types, each with rules on how the money can be used, and are often managed by professional investors or dedicated staff. While the largest endowments belong to a handful of wealthy universities, even smaller ones can enhance student opportunities, from upgraded facilities and academic programs to more general financial aid packages.

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.

FAQ

How do universities use endowments?

Universities use endowments as long-term investment funds to support their mission. The principal (original donation) is typically preserved, while investment earnings are spent on specific purposes, such as scholarships, faculty salaries, research, campus maintenance, and academic programs. Many endowments are restricted by donor intent, meaning funds must be used for designated projects.

Why does Harvard have a $50 billion endowment?

Harvard’s endowment has grown to over $50 billion due to centuries of donations, strong investment returns, and careful financial management. Alumni and philanthropists contribute large gifts, often earmarked for specific purposes, while Harvard’s investment team diversifies across stocks, bonds, private equity, and real estate. Over time, compounding returns significantly increase the fund’s value.

How is an endowment paid out?

Colleges and universities generally distribute a fixed percentage — often 4% to 5% — of their endowment’s value each year. This payout policy helps ensure consistent funding without depleting the principal investment. The distributed funds are typically used for donor-designated purposes, such as student aid, faculty support, or program funding.

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

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

SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

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

SOISL-Q325-084

An internship is an opportunity to work in a field that interests you, gain valuable work experience, enhance your resume, and possibly even earn some extra money.

While internships are more commonly available to college students, it may be possible to get an internship when you’re still in high school.

Read on to learn more about high school internships, including how they work, their pros and cons, and how to find one.

What Is the Purpose of an Internship?

An internship is a temporary position that’s often related to a student’s academic field of study or career interests. It offers students a chance to apply lessons learned in the classroom in a professional setting, while also developing additional skills. Internships also give students an opportunity to make connections in their field of interest and determine if they want to pursue further study and a career in that area. Internships also give employers the opportunity to discover and develop future talent.

The Duties of an Intern

The duties of an intern vary from job to job. For example, those interning at a doctor’s office might shadow medical professionals and take notes on patient visits. Those interning at a marketing firm might sit in on marketing meetings and assist in any communication needs.

An internship experience can be somewhat similar to an entry-level employee position. However, there is typically an educational component. The point is to learn more about the career path, not just get coffee or file the office mail (though you may be asked to do this, too).

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Pros and Cons of High School Internships

There are plenty of pros when it comes to getting internship experiences in high school. For one, an internship allows you to learn about a particular career path without having to commit to a lifelong job.

Learning about a path early on could help you determine whether you want to go to college (rather than directly enter the working world) and help you decide on your college major.

Another pro of completing an internship in high school is gaining new experiences and skills. An internship allows you to learn from professionals and add relevant skills to your resume. This can give you a leg up in applying for jobs in the future.

And, of course, all this experience and new learning make for excellent items to add to any potential college applications.
A potential downside to seeking an internship in high school is that they can be hard to find. In addition, the position may not be paid, and might be time-consuming, taking time away from other obligations like homework, studying for SATs, and applying to college.

Finding the Right Internship

Finding the perfect internship is a wholly personal experience. A good first step is to consider your interests in both the near and far term. By thinking about career paths you might be interested in, you might identify internship opportunities around you.

However, not every young person knows, or believes they know, exactly what they want to do in the future. But you may have a general interest. For example, if your favorite class is English, an internship at a local newspaper may make sense. If you’re interested in nature, an internship with a local parks and recreation group may make a good fit.

If you’re a high schooler, make a short list of interests and sit down with a parent or guardian to identify careers that may fit within these bounds.

Next, it’s time to identify a few companies you might be interested in interning with. Search for companies near you that may be taking interns. From there, check out career pages on the individual companies to see if they have internship listings. If they don’t, try emailing the company to get in touch with the human resource (HR) department to see what may be available.

One quick tip: While researching and reaching out about internships, make sure to stay realistic about the time commitment. If an internship takes place during the school year, you may only be available in afternoons, or perhaps just for a few hours per week during the hardest year of high school. Ensure the hiring manager knows the hours you’re available before committing to any long-term work.

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Resources to Find Internships in High School

While there isn’t any centralized listing location for internships for high school students, there are still plenty of places to find information on opportunities.

Schools: You can reach out to school resources like guidance counselors, principals, and individual teachers who may know of companies worth looking into.

Individual companies: Again, seek out information from company websites and reach out to human resource departments to see what may be available.

Job search websites: Check out job search websites, such as Linkedin and Indeed, and search for “Internships in [specific field here].” Make sure to search by location to ensure the internship is nearby.

Friends and family: This is the simplest tip — just ask around. Friends and family members are the ultimate social and work network. Make it known you’re looking for an internship and ask people for their advice on just where to look.

Recommended: College Planning Guide for High School Students

Questions to Ask Before Accepting an Internship

After figuring out your interests, asking your network, and finding an internship opportunity, you may think the work is done. However, there are still a few more questions to ask.

Before accepting an internship offer, make sure to ask about the full details. What are the hours? What can you expect to learn while on the job? What are the specific job duties and how will you be evaluated along the way? Will there be opportunities for mentorship? And finally, one of the most important questions: Is the internship paid or could you get extra credit for it?

Paid vs Unpaid Internships

Scoring a paid internship isn’t a guarantee, but it’s not a completely far-fetched idea either. If a paid internship isn’t available, you can always ask about an exchange for class credit. Unpaid internships are a hotly contested issue so just make sure to do whatever feels right and comfortable for your situation.

Also keep in mind that even a paid internship likely won’t pay enough to make a major dent in your college expenses (though it can help).

If you’re concerned about how you and your family will pay for the cost of tuition, a good first step is to fill out the Free Application for Federal Student Aid (FAFSA) with your family. This will let you know if you are eligible for financial aid, including grants, scholarships, work-study, and federal student loans. If those do not cover your costs, you may also consider private vs. federal student loans.

Private student loans are available through private lenders, including banks, credit unions, and online lenders. Rates and terms vary, depending on the lender. Generally, borrowers (or cosigners) who have strong credit qualify for the lowest rates.

Keep in mind, though, that private loans may not offer the borrower protections — like income-based repayment and deferment or forbearance — that automatically come with federal student loans.

The Takeaway

While internships are often thought of as college-age experiences, high school students may find them as well. They can provide good exposure to the work world, build skills, and expand a student’s college application credentials. Some internships may be paid, but it’s unlikely to make much of a dent in the cost of college. Grants, scholarships, and federal and private student loans can help with that.

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.

FAQ

Should you get an internship in high school?

An internship in high school can provide an interesting glimpse into the work world and help a student refine their career interests. It may also help add dimension to a college application, though it’s important not to add too many responsibilities to an already challenging
schedule.

Do colleges care about high school internships?

Colleges may indeed care about high school internships. Securing an internship can show initiative and a good work ethic and that an applicant is interested in getting a jump on their career in addition to pursuing other aspects of student life.

Should you intern in high school?

Whether or not to intern in high school is a very personal decision. However, for students who are motivated to learn more about the work world or a particular field, internships can be a very valuable experience for high school students and can expand their college application credentials.

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

SOISL-Q325-117

Choosing a major in college is no small decision, but that doesn’t mean you can’t change your mind at some point down the road. Indeed, roughly one-third of undergraduates actually change majors during their college careers, and around 10% change majors more than once.

While the decision to change your major can be stressful, actually making the switch doesn’t have to be. The key to a smooth transition is to do some strategic planning and to keep up communications with your university.

Here’s what you need to know to successfully change your major.

First, Declaring a Major

Many colleges and universities ask undeclared students to choose a major by the end of their sophomore year. This gives students time to earn general education credits and try different types of classes to see what interests them.

Once you’re ready to declare a major, the official process varies by school. Generally, you need to schedule a meeting with your assigned academic advisor. You might also need to meet with a department advisor for your chosen major.

In a department or advisor meeting, you will typically review your academic progress and roughly outline the rest of the required courses you need in order to complete your major.

These courses and their timing aren’t set in stone, but it can help give students an idea of how heavy their course load will be until graduation, and set expectations for how long it’ll take them to complete the degree.

From there, the request to declare a major needs to be approved by that specific department or college. That might be as informal as a meeting or as formal as an application.


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Possible Reasons to Change a Major

Deciding to change majors is a personal choice. There’s no one sign for all students. In fact, a combination of factors may inspire a switch.

While not an exhaustive list, here are a few reasons why you might feel it’s a good idea to change majors:

•  More excitement about a different area of study: Maybe you’re a computer science student but feel more excited by an art history elective than anything else on your schedule. That could be a reason to think about changing majors. Of course, a major isn’t only about passion for the subject, but that does come into play. When nearly every class is boring, it might be time for a change.

•  Poor grades: College courses should be challenging, but if you’re regularly failing, or just barely passing required courses, it might be time to consider a different major. Not only does it indicate that the area of study might be outside your talents, but bad grades can also jeopardize graduation and completing the degree on time. If you’re giving a course your all and still coming up short, it might be time to consider alternatives.

•  Really, really good grades: This might sound counterintuitive, but if courses aren’t challenging, then the major might not be the best fit. If you feel bored in class but continue to ace the coursework, it might be a good idea to look at other majors or consider a double major or adding a minor.

•  Money: Selecting a major is often a delicate balance between finding something you love and something that leads to a career post-graduation. Picking a major solely because it could mean big bucks after college could lead to regrets down the line. Remember that post-grad life should feel fulfilling, too.

•  An awful internship: Now this can be a little tricky. If you end up hating a summer internship related to your major, you should try to evaluate if it was the work or the management that you disliked. It might have been a poor fit culture-wise but a good fit workwise.

If any or all of the above sound familiar, it might be time to think about changing majors. Additionally, it might just be helpful along the way to evaluate satisfaction with a major, even if you decide to continue in that area of study.

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Considerations Before Changing a Major

If it feels like it may be time to change majors, here are a few considerations to keep in mind before crossing the t’s and dotting the i’s:

•  What courses transfer? If your desired new major is far outside your current area of study, you might have to basically restart college. For example, a psychology major who changes tack to engineering might not have much overlap on course curriculum. Just like mapping out courses when declaring a major the first time, you’ll want to consider doing the same before changing majors. It can show you how much work or courses will be required.

•  Will it cost more? Depending on tuition pricing or area of study, changing majors might end up costing you more in the long run. That could be from additional course fees or taking more classes to catch up over the summer. Once you map out the course load for a major change, crunching the numbers is a good idea.

💡 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. You can submit it as early as Oct. 1.

•  Will it take longer? It may not be possible to graduate in four years if the new major is vastly different or the change comes late in an academic career. More time at school could mean more taking out more student loans. (Then again, less than half of bachelor’s degree earners graduate within four years.)

•  Will it line up with post-graduate goals? It’s important to enjoy an area of study, but it’s also important to ensure it aligns with jobs you want after graduating. If you enjoy classes in international relations but don’t like the job prospects, that might be a poor choice of major.

Time, money, or heavy course loads don’t have to squelch a change in major, but they should be factors to be aware of before making the switch.

💡 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. You can submit it as early as Oct. 1.

How to Change a Major

The reality is, deciding to change majors is likely harder than the actual process of doing so. Changing majors won’t be so different than declaring a major in the first place.

First, you’ll want to schedule a meeting with your current academic advisor to talk through the choice. Your advisor may be able to offer insight or even provide course recommendations in your new major.

Typically, students are required to fill out a short form and have their current as well as new academic advisor sign it to make the major change official.

Depending on the college or area of study, you might have to apply to the specialty school on campus you wish to transfer to as well.

The Takeaway

How to change your major? It requires thought and a talk with your academic advisor. Changing majors can alter a lot about the college experience, from course load to post-grad plans. It can also impact how many years you’ll spend in school and the total cost of your 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.

FAQ

Is switching your major easy?

Switching your major can be relatively straightforward, but the ease depends on your school’s policies, the timing, and your intended new major. Generally, the earlier in your college career you change majors, the easier it will be. Some majors have competitive entry requirements or limited spots, which can make switching harder. Your academic advisor can guide you through the prerequisites, paperwork, and deadlines.

How can you change your major?

Changing your major typically involves meeting with an academic advisor to discuss your goals, reviewing degree requirements, and completing a formal change-of-major form. Some schools allow changes online, while others require department approval, especially for competitive programs. You may need to meet minimum GPA requirements or complete certain prerequisite courses before switching.

What year is too late to switch majors?

While there is no absolute “too late,” switching majors becomes more complicated the further you progress in your degree. Changing during your first or second year usually causes minimal disruption, but doing so in your third or fourth year may require additional semesters to meet new requirements.

How common is it to change majors?

Changing majors is actually fairly common. Studies show that around one third of students switch at least once during their college career. Many students enter college unsure of their long-term goals, and discovering new interests through coursework often leads to a change. Some switch for better career prospects, while others change to follow passions they hadn’t considered before. While changing majors can extend graduation for some, it’s a normal part of the academic journey and not a sign of failure.

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

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

SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

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

SOISL-Q325-088

The process of getting into college actually starts long before you fill out your first application. In fact, soon after you start high school, it can be a good idea to start laying the groundwork for college, from choosing the right classes to thinking about where you might like to go to figuring out how you’re going to cover the cost.

What follows is a simple five-step, pre-college plan that can help you find, get into, and pay for your dream school.

Preparing For College: A 5-Part Checklist

For many things in life, preparation is the key to success. And this is certainly true when it comes to getting into college. Here are five steps that can help you set yourself up for a successful college experience.

1. Research Your Dream School

One of the first parts of preparing for college is deciding which college or university is right for you. The good news is that there is a school out there for just about everyone. The bad news is that you have so many options that you might be overwhelmed with choices.

Some students know right away that they want to go to the same school their parents went to, while others may be limited to choosing between a few in-state campuses. Regardless of your position, there are some questions you can ask yourself to help narrow down your college search:

What Type of Career Do You Want to Pursue?

One of the first things you might consider is what you hope to do with your degree. If you already know that you want to be an urban planner, then you may want to focus your college search on schools with stellar urban planning programs. Think your dream is too niche?

Whether you want to study auctioneering or Egyptology, there’s likely a program for you. If, on the other hand, you aren’t sure what you want to major in, you may want to look at bigger schools with many different programs where you will be able to take a wide variety of classes.

Where Do You Want to be Located?

You may also want to consider what type of location you’re looking for in a college experience. Maybe you want to get as far away from home as possible, or maybe you would be more comfortable on a campus within driving distance of your family. Some students choose to live at home and attend a local college in order to save money on living costs. Once you narrow down a location, you can start searching for schools in that area.

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How Many Schools Will You Apply To?

It’s not a bad idea to apply to multiple schools even if you have your heart set on just one. Your dreams and goals can change through the college application process, and a different school, whether a college or a university, may be a better match when it comes time to make a final decision. Plus, the application process can be competitive, and applying to more schools may give you more chance of success in your application.

2. Plan For the SAT and ACT

Once you know where you want to apply, it is time to get down to business and start preparing for college entrance exams. Some schools require the Scholastic Aptitude Test, known as the SAT, and some schools require American College Testing, known as the ACT. Many schools will accept either the SAT or ACT. It’s also worth noting that many schools are test-optional. It can be wise to see if test scores are required or not by the schools you are most interested in.

The key to working towards a killer score on either test is preparation, preparation, preparation. Whether you’re taking an after-school prep class or studying by yourself, there are lots of resources available online to help you succeed. Both the SAT and the ACT offer free practice tests, and Khan Academy offers a free SAT practice program .

Taking practice tests can help you not only learn the material but can help you get comfortable with the format of the test. This can help you stay calm and confident when test day rolls around.

Recommended: Do Your SAT Scores Really Matter for College?

3. Get Involved in Extracurriculars

In between all that studying, you may want to consider taking some time to get to work in your community. One thing many colleges look for are multi-faceted students who are interested in more than just academics.

That means that getting involved in the community could potentially help you write a strong college application, and it may also help you decide what you want to do with your life. Sports-obsessed? You might consider taking up a new sport to round out your classes or volunteering to coach a local youth team.

More into classic literature than shooting hoops? Many schools have programs where you can volunteer to tutor younger students, which can not only help sharpen your skills, but may look great on an application. Whatever you’re into, don’t be afraid to branch out and try something new — you might discover you have a passion for marine biology after organizing a beach clean up day with your classmates.

Recommended: College Planning Checklist for Parents

4. Consider Taking AP Courses

Many schools offer Advanced Placement or “AP” courses. Taking these classes may help you get one step ahead when it comes to college. AP courses allow you to tackle college-level material while you’re still in high school, and at the end of the class (if you pass the AP exam), you could be rewarded with college credits. Why try to rack up college credits in high school?

The more credits you earn from AP classes in high school, the more intro classes you may be able to skip in college. So if you take AP English in high school, you may qualify to skip out on the freshman level English class once you’re at school.

Depending on the school, that may mean that you have more opportunity to take specialized classes in your major, or it could even lead to the opportunity to graduate early.

5. Figure Out Your Finances

There’s no denying that college can be expensive. For the 2023-2024 academic year, the average tuition at a public college was $11,260 for state residents and $29,150 for out-of-state students. The average tuition and fees for a private college was $41,540. Keep in mind: These numbers don’t include the cost of housing, food, text books and supplies.

According to the Sallie Mae How America Pays for College 2025 , 74% of families used parent income and savings to help cover college costs. Even if you’ll get some help from your family, you may need more funding to cover some of the cost of college. Fortunately, there are many ways to finance your education.

A good place to start is by filling out the Free Application for Federal Student Aid (FAFSA), which will let you know if you are eligible for financial aid, including grants, scholarships, work study, and federal student loans. If those do not cover your costs, you may also consider private student loans.

Private student loans are available through private lenders, including banks, credit unions, and online lenders. Rates and terms vary, depending on the lender. Generally, borrowers (or cosigners) who have strong credit qualify for the lowest rates.

Keep in mind, though, that private loans may not offer the borrower protections — like income-based repayment plans and deferment or forbearance — that automatically come with federal student loans. But if you are looking for supplemental funding for your education, private student loans are an option.

The Takeaway

The college application process can be overwhelming. Breaking it down into smaller steps and goals can make it feel a little bit easier. Consider researching schools, making a plan for standardized testing, expanding your involvement in extracurriculars, and taking AP level courses. Getting into college is half the equation, however — the other half is paying for it.

When federal financial aid, scholarships, grants, and savings aren’t enough -– private student loans may be one option to consider to help fill in the gaps.

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.

FAQ

How can you prepare for college?

Ways to prepare for college include research schools you want to apply to, developing a plan for standardized testing, getting involved in extracurricular activities, considering AP courses, and budgeting for the cost of college.

What are the five C’s of college choice?

The five C’s of college choice are culture, curriculum, community, conclusions, and cost.

What year will I graduate if I start college in 2026?

Students take different amounts of time to graduate from college. Typically, getting a four-year degree would mean those who started in Fall 2026 would graduate in Spring 2030.

About the author

Julia Califano

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

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If you are gearing up to go to college, you are likely focused on maintaining a good GPA, but getting involved in extracurriculars in high school can be another important factor.

One type of extracurricular that you may want to consider is joining a club. High schools usually have a variety of clubs available for students to join. Joining a club comes with many benefits and can also make your high school experience more fun and memorable. Read on to learn more about why clubs are important and how to get involved.

Benefits of Joining a Club

The list of things to do while in high school can seem pretty overwhelming at times, especially when you add college preparation to the mix. There are classes to stay on top of, events and parties to attend, and soon enough college applications roll around. Balancing coursework and a social life can be a struggle, but one way to combine social life with college preparation is by joining a club.

There are a lot of benefits to joining a high school club. Many colleges like to see that applicants are well-rounded, so academic success isn’t the only way to stand out among other applicants. Clubs provide colleges with insight into what a student’s interests and passions are. In addition, they help students develop time management skills and responsibility.

Learning to balance work and fun while in high school can help make it easier to maintain that balance after entering college.

Joining a club in high school can also provide an opportunity for students to relax and have some fun. Having fun is a vital piece of creating a memorable high school experience and it can help students perform better in class.

Not only is the social time enjoyable for some students, but participation in clubs can also help students develop their “soft” skills, such as effective communication and learning to work with others.

In addition to making friends, being in a club gives students the opportunity to bond with their faculty advisor, who is usually a teacher. Building a relationship with teachers during high school is important for getting quality letters of recommendation to add to those college applications.

Common High School Clubs

The list of high school clubs that are available at each school will differ. Generally, a school will have a variety of clubs available. These can range from clubs that are academic, like a foreign language club, to clubs that are artistic, like a creative writing club, or something that’s related to a student’s hobbies, like a videogame club.

Usually, high schools will also have clubs that participate in some kind of volunteer work or community service. These can be clubs that do work in the community hospitals, in meal programs for the homeless or elderly, and much more.

Some clubs are high-tech, like the robotics club, and some are more old-school, like the chess club. Schools will usually have a lot of variety in the types of clubs that exist, and there may be some clubs that are unique to just your school. Since students can often start their own clubs, there isn’t one set list of clubs that will exist at every school.

Recommended: How to Get Involved on Campus in College

Starting a Club

If students don’t like the selection of clubs available at their school (why doesn’t every school have a waffle club?) then they are generally able to start their own. Starting a new club has a lot of benefits for the students who choose to put in the work to get one up and running.

There is no list of “correct” clubs to start in high school, most colleges value students who show commitment to something they care about. It’s about the quality of the activities they spend time in, not the quantity.

Seeing that a student has started a new club will show college admissions that the student has developed leadership and organizational abilities. Starting a club shows initiative, and sometimes, students who start clubs will end up in one of the leadership positions, like President, Vice President, Secretary, or Treasurer.

Each school will have its own process for starting a club, but there are a few steps that will be the same everywhere.

•   The first step is, of course, figuring out what the club is about. Is it going to focus on community service, something academic? Will it be focused more on fun and entertainment?

•   After a topic for the club is chosen, students should figure out what the purpose and goals of the club are. If the club is about chess, will students be learning how to play? Will club members be entering tournaments together? Figuring out the purpose of the club and what its goals are before members join will help limit confusion and manage everyone’s expectations.

•   At most schools, the club will have to get registered after its name and purpose are defined by founding members. Registering the club makes it official and once this step is complete students can actually begin enjoying their club.

•   Gaining new members and planning the first club meeting is an important next step.

Once the club is official and ready to start, it’s time to focus on recruitment and preparing for the first meeting. Students should choose a date, time, and location for the first meeting before recruiting, that way they have information to give interested students on when activities will be beginning.

Before the meeting, club members should know what they plan on discussing with the new recruits and how long they want the meeting to last. Usually, the first meeting is a good time to go over the club’s purpose and goals and to get contact information from the new members.

Sometime in the first few meetings, it may be a good idea to assign leadership roles for the club. These usually include President, Vice President, Secretary, and Treasurer. The way these roles function can differ from club to club, but their usual responsibilities are as follows:

•   The President will lead the club and supervise meetings and activities.

•   The Vice President assists the President and takes over their roles whenever the Present isn’t available.

•   The Secretary takes notes during meetings and helps keep all members up to date on the club’s plans.

•   The Treasurer will manage the club’s budget and keep track of expenses.

Assigning leadership roles will help keep the club running smoothly and make it easier for the club to meet its goals.

Planning Ahead for College

It’s really never too soon to start planning, as well as saving, for college. The process of researching schools and then applying can be time-consuming, so the earlier students begin their research, the less last-minute cramming they’ll have to do.

A vital piece of planning for college is figuring out how to finance college. Most schools come with a pretty large price tag, but there are a variety of ways that students can help fund their college tuition.

To apply for federal financial aid, students will need to fill out the Free Application for Federal Student Aid (FAFSA). This will allow you to find out if you are eligible for different forms of financial aid, including grants, scholarship, federal student loans, and work-study. Grants and scholarships usually do not need to be repaid, whereas loans do need to be repaid.

It’s recommended that students exhaust their federal aid options before looking into private student loans. Federal student loans vs private loans come with certain benefits.

If students are not eligible for federal aid, or the financial aid they receive is not enough to meet their needs, there are other options, such as private scholarships and private student loans.

Scholarships are widely available and the eligibility criteria varies for each one. Some scholarships are need-based, while others are merit-based. Scholarships are available through schools, local communities, and corporations.

Taking out private student loans is another option for helping to fund a college education. These loans are available through private lenders, including banks, credit unions, and online lenders. Rates and terms vary, depending on the lender. Generally, borrowers (or cosigners) who have strong credit qualify for the lowest rates.

The Takeaway

As you prepare for college, academics are important but so are extracurricular activities. One good way to build up the latter is to join or even start a club in high school that allows you to pursue a topic you’re passionate about while gaining teamwork, organizational, and communication skills. This can help you stand out when applying to a school and applying for financial aid.

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.

FAQ

Is joining clubs in high school important?

Joining clubs in high school can help develop and showcase such skills as leadership, teamwork, and problem-solving. It can also be a key component of a college application in addition to academic credentials.

What are the benefits of joining a club?

Joining a club in high school can provide social interaction, a sense of community, pursuit of interests, and skill development. It can also help round out a college application.

Does starting a club in high school look good?

Yes, starting a club in high school can have a positive impact on a college application. It can show leadership, initiative, and organizational skills, which may add to a student’s college profile.

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

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