Nov
22
2025
A woman sitting in front of her laptop, with her glasses in her hand, staring off into space as she contemplates what to do after college.

7 Things to Do After College Besides Work

By | Life & Career, Student Loans, student_loan | Comments Off on 7 Things to Do After College Besides Work

After graduation from college, you may be full speed ahead in terms of finding a job and launching your career. However, many recent grads may have ideas other than heading directly into the work world.

Several alternatives are possible — including internships, volunteering, grad school, or spending time abroad. Of course, the options available will differ depending on each person’s situation and interests. If you’re considering a path other than diving into an entry-level job, read on. Here are seven things to do after college besides work.

Key Points

•   Recent graduates have multiple paths after college besides starting a job, such as internships, attending grad school, volunteering, and traveling.

•   Internships offer hands-on experience, resume building, and networking.

•   Volunteering for an organization like AmeriCorps provides professional experience, skills training, and financial benefits.

•   Graduate school may enhance career prospects and salary but requires careful consideration because of the cost.

•   A gap year can help grads gain career insights and connections, though financial planning is essential.

1. Pursue Internships

One popular alternative to working right after college is finding an internship. Generally, internships are temporary work opportunities, which are sometimes, but not always, paid. Unpaid internships can be valuable nonetheless.

Internships for recent grads can offer a chance to build up hands-on experience in a field or industry they believe they’re interested in working in full time. For some people, it could help determine whether the reality of working in a given sector meets their expectations.

Whatever grads learn during an internship, having on-the-job experience (even for those who opt to pursue a different career path) could make a job seeker stand out. Internships can help beef up a resume, especially for recent grads who don’t have much formal job experience.

A potential perk of internships is the chance to further grow your professional network, building relationships with more experienced workers in a particular department or job. Some interns may even be able to turn their short-term internship roles into a full-time position at the same company.

Starting out in an internship can be a great way for graduates to enter the workforce, road-testing a specific job role or company. You may find the opportunity is a good fit or decide it’s actually not right for you.



💡 Quick Tip: Ready to refinance your student loan? You could save thousands.

2. Serve with AmeriCorps

Some graduates want to spend their time after college contributing to the greater good of American society. One possible option here is the Americorps program. (Although Americorps initially had its funding withheld under the Trump administration, funding was restored in September 2025 after a lawsuit was filed by a number of state attorneys general and others.)

So, what exactly is Americorps? Americorps is a national service program dedicated to improving lives and fostering civic engagement. It supports national and state community service programs through the work of members who work with organizations in the areas of health, environmental protection, and education.

There’s a wide variety of options in AmeriCorps, when it comes to how you can serve. Graduates can dive into emergency management, help fight poverty, or work in a classroom.

However graduates decide to serve through AmeriCorps, it may provide them with a rewarding professional experience and insights into a potential career.

Practically, Americorps members may also qualify for benefits such as student loan forbearance, a living allowance, education awards (upon finishing their service), and skills training.

AmeriCorps’ slogan is “Be the greater good.” Giving back to society could be a powerful way to spend some time after graduating. You can support organizations in need, while also establishing new professional connections.

3. Attend Grad School

Some jobs require just a bachelor’s degree, while others require a master’s degree. Think, for instance, of being a lawyer or medical doctor. Or you might want a certain postgrad degree, like earning an MBA, to boost your career and salary trajectory.

Graduates might want to research their desired career fields and see if it’s common for people in these roles to need a master’s degree or even a Ph.D.

Some students may wish to take a break in between undergrad and grad school, while others find it easier to go straight through. This choice will vary from student to student, depending on the energy they have to continue school as well as their ability to afford graduate school.

Graduate school will be a commitment of time, energy, and money. So, it’s wise to feel confident that a graduate degree is necessary for the line of work you’d like to pursue before forging ahead.

4. Volunteer for a Cause

Volunteering could be a great way for graduates to gain some extra skills before applying for a full-time job. Here’s why:

•   Doing volunteer work may help graduates polish some essential soft skills, like interpersonal communication, interacting with clients or service recipients, and time management.

•   This, in turn, can help you tweak your resume and make yourself more marketable.

•   Volunteering can help you network and forge new connections outside of college. The people-to-people connections made while volunteering could lead to mentorship and job offers.

•   New grads may want to volunteer at an institution or organization that syncs with their values or pursue opportunities in sectors of the economy where they’d like to work later on (i.e., at a hospital).

•   Volunteering just feels good. After all of the stress that accompanies finishing up college, volunteering afterward could be the perfect way to recharge.

Recommended: What Is the Average Student Loan Debt After College?

5. Serve Abroad

Similar to the above option, volunteering abroad can be attractive to some graduates. It may help grads gain similar skills they’d learn volunteering at home. It can also give them the opportunity to learn how to interact with people from different cultures, learn a new language, and see new perspectives on solving problems.

Though it can be beneficial to the volunteers, volunteering abroad isn’t always as ethical as it seems. And, not all volunteering opportunities always benefit the local community.

It could take research to find organizations that are doing ethically responsible work abroad. One key thing to look for is organizations working on community-led projects that put the locals first and have them directly involved in the work.

6. Take a Gap Year

A gap year is a semester or a year of experiential learning. While it’s often taken after high school, it can be a path after college as well. (You may have to budget for a gap year, though, especially if you won’t be earning much income.)

Not only might a gap year help grads build insights into what they’d like to do with their later careers, it may also help them home in on a greater purpose in life or build connections that could lead to future job opportunities.

Graduates might want to spend a gap year doing a variety of activities including:

•   Trying out seasonal jobs

•   Volunteering or caring for family members or others in need

•   Interning

•   Teaching or tutoring

•   Traveling.

A gap year can be whatever the graduate thinks will be most beneficial for them. There are a variety of ways to finance a gap year that can be worth researching.

7. Travel Before Working

Going on a trip after graduation is a popular choice for graduates who can afford to travel after college. Traveling can be expensive, so grads may want to start saving and budgeting for it in advance.

On top of just being really fun, travel can have beneficial impacts for an individual’s stress levels and mental health. Traveling after graduation is a convenient time to start ticking locations off that bucket list, especially since graduates won’t be held back by a limited vacation time. Going abroad before working can give students more flexibility.

There are ways to economize, such as using a multi-country rail pass and using public transportation.

Navigating Postgrad Financial Decisions

Whether a recent grad opts to start their career right away or pursue one of the above-mentioned paths other than work, student loans may be part of the picture.

After graduating (or if you’ve dropped below half-time enrollment or left school), the reality of paying back student loans sets in. The exact moment that grads will have to begin paying off their student loans will vary by the type of loan.

For federal loans, there are a couple of different times that repayment begins. Students who took out a Direct Subsidized, Direct Unsubsidized, or Federal Family Education Loan, will all have a six-month grace period before they’re required to make payments. Students who took out a Perkins loan will have a nine-month grace period.

When it comes to the PLUS loan, graduate and professional students with PLUS loans will be on automatic deferment while they’re in school and up to six months after graduating.

Some graduates opt to refinance their student loans. Refinancing student loans is when a private lender pays off the existing loan with a new private loan that has a new interest rate. Refinancing can potentially lower monthly loan repayments or reduce the amount spent on interest over the life of the loan.

However, there are a couple of important notes about this process:

•   Both US federal and private student loans can be refinanced, but when federal student loans are refinanced by a private lender, the borrower forfeits federal benefits — including loan forgiveness, deferment and forbearance, and income-driven repayment options.

•   Those who refinance for an extended term may pay more interest over the life of the loan.

For these reasons, each person with student loans should carefully consider their situation and options to decide the best way to manage their debt.

The Takeaway

Diving directly into a career right after college is not the only option. College grads can consider a number of other paths, including volunteering, doing an internship, attending grad school, and traveling. These are all ways to gain valuable experience that could benefit them in the future.

For borrowers facing student loan repayment after their grace period (if they have one) ends, this is also the time when they can choose a repayment plan and possibly consider options like student loan refinancing.

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


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

FAQ

What is the best thing to do after college?

The best thing to do after college depends on your unique personal and financial circumstances and your goals. You might feel it’s best to get a job right away and start earning a paycheck. But there are plenty of other options to consider as well, including going to grad school, volunteering, or traveling while you have the time to do so. Each of these options can give you experiences and introduce you to people who may be helpful in your future career.

What can you do if you don’t have a job after college?

If you don’t have a job after college, there are many different things you can do. For example, you may want to use the time to apply to grad school and earn a master’s degree; volunteer for a cause you believe in, which could help you develop skills you could put on your resume; or travel and learn about other countries and cultures.

Is it a bad idea to take time off after college?

No, it’s not bad to take time off after college. It could be beneficial if you use the time wisely. You could explore different interests, which could help you figure out which job path might be right for you, or do volunteer work that might teach you valuable skills. Some graduates use the time after college to take a gap year, which is a period of experiential learning. You could travel during this time, teach or tutor, or try out some different jobs on a part-time basis to see what you like.


SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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


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

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-Q425-024

Read more
Nov
21
2025
Image focuses on the hands of a woman who is typing on a computer keyboard and holding a pen, with a notebook next to her

8 Tips for Asking a Professor for a Letter of Recommendation

By | Debt Payoff, Student Loans, student_loan | Comments Off on 8 Tips for Asking a Professor for a Letter of Recommendation

While a college education can help prepare students for life, taking advantage of the professional network college offers can help launch your career. Whether trying to land a summer internship, get that first job, or apply to graduate school, a letter of recommendation from a professor can be helpful.

Although requesting this is common practice, it can still feel nerve wracking to broach the subject. Keep reading to learn helpful tips to receive a glowing letter of recommendation from a professor.

Key Points

•   Choose a professor who knows you and your work well, ideally someone familiar with your strongest projects and growth.

•   If possible, ask a professor who specializes in your field, as their expertise and reputation can strengthen your application.

•   Make a personalized, specific request, reminding them of your coursework and goals, and provide details about the job or program.

•   Support them with materials like your resume, transcripts, or personal statement, and give clear instructions on deadlines and submission.

•   Show professionalism by asking well in advance, providing updates, and expressing gratitude, helping build an ongoing mentor relationship.

1. Asking a Professor Who Knows You and Your Work

There are several factors to consider when deciding who you’ll ask for a letter of recommendation for a job or a college internship. Taking stock of which professors actually know your interests and goals, not just your name, is something to consider right away.

A strong letter of recommendation from a professor can involve praising a student’s personal character and highlighting their goals and ambitions. For this reason, choosing a professor you’ve personally interacted with, whether through class discussions or during office hours, could be beneficial.

If you’ve taken several courses with a professor, they may be able to showcase how you’ve grown throughout your time in college.

Since the professor will also be attesting to your academic merit, it can be helpful to start by identifying who has seen samples of your strongest work throughout college. For example, a personal essay or in-person presentation that earned a strong grade might indicate that a professor valued your work.



💡 Quick Tip: Ready to refinance your student loan? You could save thousands.

2. Choosing a Professor Who Specializes in Your Field

Although a letter of recommendation is foremost about your own skills and attributes, also of benefit can be a professor’s credentials within an industry or academic field you are targeting.

A letter of recommendation from an esteemed and notable professor could help you stand out in a competitive group of applicants.

Many professors have built up extensive networks from academic conferences and working with faculty at other universities and in the private sector.

Though they may not have contacts at the company, organization, or university you’re applying to, their advice and connections in a specific sector or academic discipline could prove valuable as you begin your job search. As academic professionals, they may have insight on the return on education for different graduate degrees and careers.

Often, jobs or graduate school applications require submitting more than one letter of recommendation. Choosing a combination of references who can highlight your strengths and character and carry respect in your desired field could further enhance your candidacy.

Recommended: 6 Ways to Save Money for Grad School

3. Asking in Person, if Possible

Given the importance of the request, asking in person can show that you’re serious about your future and respectful of a professor’s time.

For students currently enrolled in school, finding time to ask a professor for a letter of recommendation may be as simple as making an appointment during their office hours.

If you’re studying abroad or you’re currently navigating life after college, reaching out via email may be your only feasible option for starting the conversation. To further demonstrate your commitment, you might ask to arrange a phone or video call.

4. Making a Personalized and Specific Request

The average college has a student to faculty ratio of 18-to-1, so it’s not uncommon for professors to have several students ask for letters of recommendation each year. Still, that doesn’t mean every request is guaranteed a response or agreement to receive a recommendation.

Out of consideration for a professor’s busy schedule, making a request that’s tailored to them and clearly outlines what you need may increase your chances of success.

To personalize the request, consider reminding them which of their courses you took, a key project or assignment you completed, and how they influenced your academic and career goals. Next, providing a concise explanation of the position or program you’re applying for and what it means to you is an opportunity to convey your own professionalism and passion.

Since writing a letter of recommendation is a favor, sending a courteous request that allows a professor to opt out could help avoid a lukewarm reference. A well-crafted request makes it easy for the professor to quickly decide if they have enough knowledge about you and the position to write a letter of recommendation.

Recommended: Student Debt Guide

5. Providing Information to Write the Recommendation

Even if you have a strong relationship with a professor, the quality of the recommendation can benefit from supplemental information. For instance, providing a resume, college transcripts, personal statement, and a sample of work can help jog their memory and give them a blueprint of your experience and accomplishments to draw from.

It can be helpful to include a job description or, for a graduate program, admissions information. This could help a professor connect your academic knowledge and experience to the job or program’s desired qualifications and skills.

This is also the time to provide information and guidance for submitting a letter of recommendation. Some typical considerations to include are where to send the letter, any relevant deadlines, and to whom it should be addressed.

6. Giving Plenty of Notice

Asking your professor several weeks, if not months, before the recommendation is due can convey respect and appreciation for their time and effort and help ensure submission deadlines are met. Also, it can give you time to regroup and consider other options if a professor or two declines.

7. Keeping Them Updated Though the Process

Professors typically have busy schedules, so they probably won’t keep thinking about your job search or grad school application after the letter of recommendation has been written and sent. Letting them know when you have interviews and other updates can help them be prepared should they receive a call from an employer or admissions office.

Recommended: Refinancing Graduate Student Loans

8. Saying Thanks and Staying in Touch

Besides creating good karma, thanking a professor is another opportunity to foster a good relationship with them. They might become a mentor to you, especially if you’re pursuing a job or education in the same field.

You might apply to a higher-paying job or a graduate program in the not-so-distant future and want to ask for another recommendation from the same professor.

Instead of starting from scratch each time you apply for a new job or after you get your master’s degree, you may want to periodically update academic and professional references along your career path and as your goals change.

Not only can this make for an easier request and stronger recommendation next time around, it may lead to more professional opportunities and meaningful relationships.

The Takeaway

Asking a professor for a letter of recommendation could be helpful when you’re trying to get a job after college or apply to grad school. Choosing a professor that knows you and your work, asking them respectfully far in advance of the deadline, and giving them clear details and instructions about what’s needed, could make all the difference in getting a strong recommendation.

As you strive to land a job or advance in your schooling, you’re likely also starting to think about looming student loan payments. Refinancing your student loans may be one option to help with repayment, especially if you can qualify for a lower interest rate to save money.

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

How well do you need to know a professor to ask for a letter of recommendation?

A professor that knows you and your work can write a strong letter that speaks to your achievements and personal character. You could choose a professor you’ve had more than one class with, for instance, or one that has seen examples of your best work, whether it’s an essay, a special project, or a difficult test that you aced.

How far in advance should you ask a professor for a letter of recommendation?

It’s best to ask a professor several weeks or months in advance of the deadline for a letter of recommendation. That shows you are respectful and appreciative of their time and efforts, and it gives them plenty of time to submit the letter before the due date.

What if a professor declines to write a letter of recommendation?

Be gracious and professional. Thank them for their time and consideration and then move on to another professor with your request.

SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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


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

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-Q425-015

Read more
Nov
21
2025
A female student sitting at a desk, writing in a notebook as she studies for the GMAT.

The Ultimate GMAT™ Study Plan

By | Building Your Career, Life & Career, Student Loans, student_loan | Comments Off on The Ultimate GMAT™ Study Plan

Gearing up for a Master of Business Administration program involves a lot of prep, especially when it comes to taking the GMAT™ — the Graduate Management Admission Test. It’s a standardized test that assesses potential business school students.

The GMAT was created by the Graduate Management Admission Council (GMAC) and is now the most widely used assessment for graduate management admissions.

It’s available in approximately 114 countries, used by more than 2,400 universities and institutions worldwide, and was taken by more than 78,000 students in 2024.

The exam is important for prospective MBA students because it may carry a lot of weight in the application, with some experts estimating it accounts for up to 22% of admissions decisions.

Because of this, getting prepared for the GMAT is crucial to getting into an MBA program.

Key Points

•   GMAT scores range from 205–805, with the quantitative reasoning, verbal reasoning, and data insights sections contributing to the total; the test is critical for MBA

•   Studying for 60+ hours is recommended, and most successful test takers prep for 3 to 6 months before taking the GMAT.

•   Practice exams are key for building familiarity, pacing, and confidence; aim to simulate real test conditions closely.

•   Study support helps — tutors, prep courses, or peer groups may improve accountability and offer feedback.

•   Paying for an MBA may involve federal aid, scholarships, working while studying, or private loans — each with pros and cons.

Important Facts About the GMAT

There are three sections in the GMAT: quantitative reasoning, verbal reasoning, and data insights. These sections consist of content relevant to today’s business opportunities and challenges.

The total score a student can receive for this exam will fall somewhere between 205 and 805, and it’s based on their performance on all three sections of the exam. Scores for each section are between 60 and 90, and each section is weighted equally.

The quantitative reasoning section measures mathematical ability, including algebra and arithmetic. There are 21 questions, and the answers to them rely on analysis and logic.

The verbal reasoning measures a student’s ability to read and comprehend material and to make and evaluate arguments. There are 23 questions in this section consisting of reading comprehension and critical reasoning.

The data insights section is new, and it measures student’s ability to interpret and analyze data and apply it to business scenarios. This section also measures digital and data literacy. There are 20 questions that may require math, verbal reasoning, data analysis, or all three of these skills.

Students’ unofficial scores will be displayed on-screen immediately after they finish the exam. They are not allowed to record or save their unofficial scores. An email with their official score will be sent to them.

A student’s GMAT score helps business schools evaluate how prepared they are for the rigors of MBA coursework. There is no set score that students must achieve to be accepted into a program, but students can figure out an estimate of how well they need to do by researching the average score accepted students got on their GMAT exam.

This can give prospective students a good idea of what score they should aim to receive to be considered for acceptance to a particular program.

Making a Study Plan

Making a GMAT study plan depends on when applications are due, which will differ by school.

It’s recommended that students take the exam at least three to four months before their application deadline. This will give students enough time to retake the test if necessary. The test can be taken up to five times within 12 months. There is now no limit on how many times a student can take the GMAT.

Once students know their application deadline, they can make a plan for when they want to take the exam. Exams are available year-round, and students can register to take it online at mba.com.

Each student will have to determine how much preparation is right for them, but usually, it’s recommended to spend three to six months preparing for the GMAT.

According to GMAC, the makers of the exam, the majority of test takers prep for at least 60 hours. Those who did so, scored 500 or higher on the test.

Studying more isn’t a guarantee of a high score, but it seems to help a majority of students find success. With this information, students can create a study plan that suits them and their timeline best.

Recommended: The Ultimate Guide to Studying in College

Study Tips for the GMAT

With 60 or more hours of preparation recommended, how can students best spend those hours?

Here are some tips on how to study for the GMAT that may help students make the best of their prep time.

Taking Practice Exams

Familiarity with the format of the test means there are few surprises. Students will be familiar with each section of the test, the order of the sections, and how the instructions are worded.

Studying the content is important, but so is knowing what to expect when test day comes.

The most effective way to use practice tests is to take one first and use it as a baseline so it’s easy to see where improvements need to be made and how much progress is being made after each consecutive practice test.

The GMAT takes two hours and 15 minutes. Each section is 45 minutes each, and there is one optional 10-minute break.

Taking practice exams is also a good way for students to learn how to pace themselves through each section of the test.

Recommended strategies are keeping a consistent pace throughout the entire exam, keeping in mind how many questions are in each section, and estimating how much time is allotted for each question.

•   The quantitative reasoning section includes 21 questions over 45 minutes.

•   The verbal reasoning section gives test takers 45 minutes for 23 questions.

•   The data reasoning section has 20 questions to be answered over 45 minutes.

Students may choose to use official GMAT exam prep packages, which vary in cost (one is free).

Hundreds of quantitative and verbal reasoning questions, as well as data reasoning questions can be accessed through these official packages.

Students can also purchase unofficial GMAT practice tests if they need more resources.

Tutoring and Peer Study Groups

For students who want extra help preparing for the GMAT, getting a private tutor, taking a prep course, or finding a study group may be options to consider.

A benefit to these strategies is the addition of regular feedback and accountability, which can help students stick to their GMAT study plan.

For students with a tighter budget, finding a GMAT support group and free practice exams may be more affordable routes.

Staying Healthy

Performing well during a stressful examination can be made easier by maintaining good physical and mental health. It’s recommended that students get plenty of rest in the days before the exam, as well as keep up a healthy diet.

Both rest and nutrition can impact physical wellbeing. Going into the GMAT in good physical condition can help students reduce stress and build confidence.

During practice tests, students can practice stress management techniques, which may make it easier to use them during the official test.

Test-taking anxiety is a common phenomenon, and each student may want to learn which coping techniques work best for them.

What About Finances?

Students who are considering an MBA program may be shocked when they see the high cost of tuition. According to the Education Data Initiative, the average cost of an MBA program is $62,820. However, this can range from $44,640 to over $71,000 depending on the school.

Options for decreasing the cost of earning an MBA may be getting a master’s degree online or getting financial aid to help cover the cost.

There are a few options when it comes to paying for graduate school.

Apply for Federal Financial Aid

Filling out the Free Application for Federal Student Aid (FAFSA®) as a graduate student means the aid is given based on the student’s income, not their parents’. This could help students receive more federal aid than they did as undergraduates.

After submitting the FAFSA, students will receive a FAFSA submission summary, which provides information about their federal student aid eligibility.

The schools to which a student has applied and been accepted will send a financial aid package offer letter, and the student can decide whether to accept or decline the offer.

Federal student financial aid can come in the form of work-study, grants, or loans. Grants usually don’t need to be repaid, but loans do. Graduate students are not eligible for subsidized student loans, only unsubsidized, so interest will start accruing as soon as the loan is disbursed.

Recommended: Private Student Loans vs Federal Student Loans

Work a Part- or Full-time Job

Another option may be working while getting an MBA, with some employers helping to pay for tuition. There are more part-time and online MBA options than there used to be, making it easier for students to work while finishing school.

Apply for Scholarships

Students can also apply for scholarships through the school they are attending, as well as from private or professional organizations. Scholarships usually vary in their eligibility requirements, and it’s recommended that students seek out and apply for all they may be eligible for.

Use Private Student Loans

Another option for funding an MBA program may be private student loans. Private student loans do not come with the same benefits and protections that federal loans do, like income-driven repayment plans and student loan forgiveness. The interest rates and repayment options vary by lender, so students are encouraged to do their research carefully before considering this option.

It’s also possible to refinance student loans in the future. With refinancing, borrowers exchange their loans for a new private loan, ideally one with a lower interest rate if they qualify. That could help save them money.

Keep in mind, though, that refinancing federal student loans means you’ll no longer be eligible for federal benefits, including income-driven repayment plans and student loan forgiveness. If you’re currently using or plan on using federal benefits, it’s not recommended to refinance your federal student loans.

The Takeaway

Taking the GMAT requires months of study and prep work. Learning about the structure of the exam and familiarizing oneself with the kinds of questions asked is key. Students can take practice exams and join study or tutoring groups to prepare.

Another important issue to consider is how to afford an MBA program. Students can apply for financial aid, work full- or part-time, or take out and/or refinance student loans.
Figuring out how to prepare for and pay for graduate school can feel overwhelming, but fortunately, help is available for both.

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

How long should I study for the GMAT?

It is recommended to study for three to six months for the GMAT. According to GMAC, the makers of the exam, students who studied for at least 60 hours scored 500 or higher on the exam. Creating a study plan and taking practice tests can help you prepare.

Is 600 a good GMAT score?

Yes, 600 is typically considered a pretty good GMAT score. The average score for all GMAT test takers is about 555. For the top 10 business schools, average scores range from 645 to 695; for the top 20 schools, scores range from 615 to 695.

When should I retake the GMAT?

You might consider retaking the GMAT if your score was below the average score of the schools you’d like to get into. You might also want to retake the test if your score was well below what you scored on practice tests. However, you must wait at least 16 days before retaking the GMAT.

SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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

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

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


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

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-Q425-014

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Nov
21
2025
A woman in her college library taking a break from studying and looking up information on student loan refunds on her phone.

Guide to Student Loan Refunds

By | Debt Payoff, Student Loans, student_loan | Comments Off on Guide to Student Loan Refunds

It’s a common scenario for students (and sometimes their parents) to borrow student loans to help cover the costs of college. Tuition, housing, textbooks, and incidentals can really add up. But what happens if they take out more in loans than they actually need? In that case, they may receive a student loan refund.

A student loan refund is money that the borrower receives when the loan amount exceeds the amount of money required to pay for qualifying education expenses. The overage amount would come to them as a student loan refund in the form of direct deposit or a check.

Read on for more information on what a student loan refund is and what to do if you receive one.

Key Points

•   A student loan refund may be issued if a borrower took out more in student loans than they actually needed to pay for college expenses like tuition and fees.

•   Student loan refunds may be sent as a check or a direct deposit in the borrower’s bank account.

•   A college has 14 days to issue a refund payment if a student has a credit on their account.

•   In general, the school will contact the borrower to notify them that a refund will be sent to them.

•   Students may keep a student loan refund check, in which case the amount will need to be repaid with interest later, or they can return the refund.

What Is a Student Loan Refund?

To understand what a student loan refund is, it can be helpful to first look at what college financial aid is and how it is distributed to students. When a student or their parent pursues federal financial aid, such as federal student loans, that aid is distributed via a credit to the student’s account at their college.

Private student loans are distributed differently depending on the lender. Some private lenders may deliver the funds directly to the student. Others may choose to credit the student’s college account, similar to how federal aid is distributed.

Private or federal, this is where student loan refunds may come into play. Here’s how:

•  Student financial aid can cover costs such as tuition, room and board, and fees. On occasion, however, an aid distribution can lead to there being an additional credit in the student’s college account.

•  This happens if there is any excess money after paying for the necessary expenses. In that case, the student or parent will receive a student loan refund via a check or in the form of a direct deposit to their bank account.

•  An example of how this might happen is that funds are sent to the student’s school, where the student’s account only reflects tuition. But the amount was also intended to cover textbooks, which the student will buy separately. The overage in the student loan (the part meant to pay for the books) could then be sent to the student.

•  Or the additional amount might be a case of the student having borrowed more than they actually needed to afford their school costs for a particular time period. Perhaps they signed up for a class that wound up being canceled and are now taking a different class that carries fewer credits and less expense.

How to Get a Student Loan Refund

Whether a student or a parent takes out a federal student loan, the process of getting a student loan refund will generally look similar. Each semester, the school will typically review student accounts to determine if there are any eligible credit balances that can be refunded to the student.

If that is the case, here are some details to know:

•   The school has 14 days to issue a payment to the student if there is credit on their account. In some cases, schools may determine that credit balances should be applied to students’ future costs at the university.

•   In some cases, if the credit is not a result of the student receiving financial aid, the school may require that students request a refund. Follow the refund request process as determined by the school you attend.

•   In general, the school in question will contact the student or their parents in writing any time they distribute any loan money. The loan servicer will also provide confirmation that the loan money was delivered.

•   Alongside this notice, borrowers will generally also receive information on how to cancel part or all of the student loans. If the borrower realizes they don’t need the full loan amount, this may be an option they want to pursue.

•   Know that any amount refunded is still considered part of the total amount borrowed. So, borrowers who receive a portion of their student loans refunded would still be responsible for repaying that amount, with interest, if the refund is not canceled.

•   When it comes to federal student loans vs. private loans, the borrower can cancel all or part of their loan within 120 days of receiving it. They will incur no interest during this time and no fees will be charged.

The process of getting student loan refunds may vary when dealing with private lenders.

•   If the funds were received by the student to pay for qualified expenses, such as textbooks, the student can go ahead and use it for such purchases (more on this below).

Recommended: How and When to Combine Federal Student Loans and Private Loans

Common Student Loan Refund Mistakes

There are a few common pitfalls regarding private and federal student loan refunds that students and their parents should avoid. These include:

Moving Too Slow

Requesting a student loan refund is a bit of a time-sensitive process.

•   If someone realizes they won’t need the full amount of a federal student loan awarded before the funds are disbursed, they can actually request the school cancel the check or deposit before the need to process a refund even arises.

•   If the borrower realizes after distribution of a federal student loan that they don’t need all or any of the funds, they have 120 days after the loan disbursement date to return the funds without incurring interest or fees.

•   If a borrower misses both of these opportunities, the process of working with their school’s financial aid office to return the funds can become more complicated and time-consuming.

Not Establishing a Paper Trail

When making a student loan refund request, it may be a good idea to keep a paper trail of all requests and communication in order to establish a clear history of a desire to return the unused funds, if that is your situation. If things get lost in translation (which could happen), having a paper trail can be extremely helpful.

Overrelying on Student Loans

Some students and their parents might lean too heavily on student loans and may be able to get a bigger refund if they can find another way to finance any qualified education expenses. Student loans can be used to pay for academic and living expenses for the student while they’re in school.

However, pursuing other forms of financial support, such as a work-study program, can allow students to send more of their aid funds back, which will leave them with fewer loans when they graduate.

While it can be tempting to use a student loan refund to cover extra expenses like clothing and transportation — the less that is borrowed, the less that will be owed after graduation.

Just be sure that, if you receive a larger loan disbursement than what you actually need, you don’t wind up spending it on, say, dining out or entertainment while in school. While those activities are part of college life, paying for them with loan funds could be a misuse of your financial aid.

Recommended: What Happens If You Just Stop Paying Your Student Loans?

What to Do With a Student Loan Refund

When a student or their parents get a student loan refund, they have two main options. They can keep it or return it.

Keep the Student Loan Refund Check

The first option is to keep the refund. This money can be used as the borrower sees fit. Borrowers aren’t required to submit proof of what they spent the funds on which can make it tempting to spend the refund on expenses that aren’t necessarily required for education purposes.

Keep in mind, as noted above, that spending the funds on nonqualified expenses could be considered fraud and is not recommended. While it may feel appealing in the moment to use the funds, it may not be the wisest decision. Additionally, a student loan refund is still money that needs to be repaid with interest, so keeping that money may also not be in your best interest from a financial perspective either.

Return the Student Loan Refund Check

If the funds aren’t needed to pay for school, returning the refund check may be the most beneficial choice in the long run. Because, as mentioned, the money will have to be paid back (with interest) and spending it on unnecessary expenses can be quite a disservice to the borrower.

For details on returning your student loan refund check, contact the school’s financial aid office. If the borrower chooses to keep the student loan refund check or misses the deadline to return it, there are still some next steps available to them. One such option is to make a payment on their student loan balance.

Even though federal student loans don’t require payment until the student graduates, this can be one way to cut down student loan debt. The borrower can also use those funds for expenses in the next term and as a result, can choose to borrow less money for that term.


💡 Quick Tip: If you have student loans with variable rates, you may want to consider refinancing to secure a fixed rate in case rates rise. But if you’re willing to take a risk to potentially save on interest — and will be able to pay off your student loans quickly — you might consider a variable rate.

Refinancing Student Loans

Now, imagine that all your hard work has finally paid off. It’s time to cross that graduation stage. Once graduation day rolls around, students and their parents will begin to think about how they want to manage and pay off their student loan debt.

One option that can potentially lead to saving money on interest is to refinance student loans.

When someone refinances a student loan, they get a new private loan at a new interest rate and/or a new term. If a borrower initially had more than one student loan, refinancing leaves the borrower with only one monthly payment to make instead of multiple ones. The borrower might also qualify for a lower interest rate or choose a lower monthly payment for a longer term.

Keep in mind that if you refinance with an extended term, you may pay more interest over the life of the loan. Also know that if you refinance federal loans, you will forfeit federal benefits such as forgiveness and student loan deferment. For these reasons, refinancing may not be the right choice for all borrowers.

The Takeaway

If there are funds from student loans left over after all tuition and fees are paid, students may receive a student loan refund check. This check can be used to pay for other educational expenses, or it can be returned.

Keep in mind that unless the refund is returned, the money will need to be repaid with interest. Refinancing student loans can be an option for a borrower to explore when it’s time to start paying back what they have borrowed.

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

Why did I receive a student loan refund check?

It’s likely that you received a student loan refund check because the amount you borrowed in student loans exceeded the expenses your college billed you for, including tuition and fees. You can check with your school’s financial aid office to find out exactly why you received the refund.

When should I expect my student loan refund check?

Typically, borrowers will get a student loan refund within 14 days after the financial aid office at their school has applied the loan funds to their qualified education expenses and then processed the credited amount. A check will likely take longer to receive than a refund that’s directly deposited in the borrower’s bank account.

How do I know if I got a student loan refund?

Your school should notify you that you are getting a student loan refund. You can also check your account on your school’s online portal — the information should be listed there. Finally, you can contact your school’s financial aid office directly and ask them whether you are getting a refund.

SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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


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

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-Q425-019

Read more
Nov
20
2025
A hand is holding a piggybank upside down, emptying out the money that was inside it.

PA School Debt Repayment Strategies

By | Debt Payoff, Student Loans, student_loan | Comments Off on PA School Debt Repayment Strategies

The decision to become a physician assistant, or PA, can lead to a rewarding career. PAs work at hospitals, medical offices, nursing homes, retail clinics, community health centers, and in the federal government.

Becoming a PA often means taking on student loans, however. Here’s what you need to know to help decide whether PA school is worth the debt.

Key Points

•   Physician assistants who work in a qualifying public service job for an eligible employer, may qualify for Public Service Loan Forgiveness after 120 payments.

•   Current income-driven repayment plans offer forgiveness after 20 to 25 years, with a new Repayment Assistance Program starting in 2026 that offers forgiveness after 30 years.

•   The National Health Service Corps provides eligible PAs serving in high-need communities awards of up to $75,000 for student loan debt.

•   Many states offer Loan Repayment Assistance Programs for PAs working in underserved areas for a specific time commitment.

•   Effective budgeting strategies and refinancing may help some borrowers manage student loan debt more efficiently.

Average Cost of PA School

The average cost of PA school is approximately $95,165 for the 27-month PA program at an in-state school and $103,660 for an out-of-state school, according to the latest data.

Before sticker shock sets in, the average salary of certified PAs in 2024 was $134,000 per year, according to the American Academy of Physician Associates. PAs working in emergency medicine, one of the highest paying areas, averaged a median annual salary of $146,000.

Physician Assistant (PA) School Repayment Options

Fortunately, there are options available for PAs struggling with student loan debt. One is the federal government’s Public Service Loan Forgiveness (PSLF) program, which is available to those working in public service who are employed by a qualifying government or not-for-profit organization. Currently, PSLF forgives the remaining balance on federal Direct Loans after 120 qualifying payments under a qualifying repayment plan.

Another option for PAs is an income-driven repayment plan. Changes are coming to these plans in mid-2026 as a result of the big domestic policy bill that was signed into law in the summer of 2025

Until then, there are currently three plans to choose from — Income-Contingent Repayment (ICR), Pay As You Earn (PAYE), and Income-Based Repayment (IBR) These plans base a borrower’s monthly payments on their discretionary income and family size. Under one of these plans, PAs could receive student loan forgiveness after 20 or 25 years of repayment.

However, for borrowers taking out their first PA loans on or after July 1, 2026, there will be only one income-driven repayment plan available — the Repayment Assistance Program (RAP). On RAP, payments range from 1% to 10% of adjusted gross income for up to 30 years. At that point, any remaining debt will be forgiven. If a borrower’s monthly payment doesn’t cover the interest owed, the interest will be cancelled.


💡 Quick Tip: Some student loan refinance lenders offer a no-required-fees option, saving borrowers money.

Other Payment Programs

There are also federal and state programs that reimburse health care workers in underserved areas, which are called Health Professional Shortage Areas (HPSAs). For example, under the National Health Service Corps Loan Repayment Program, eligible PAs who serve full-time for two years in a high-need community in a HPSA may receive an award of up to $75,000 for their student loans.

In addition, many states offer Loan Repayment Assistance Programs (LRAPs) for medical professionals, including PAs, who serve in HPSAs. These programs vary in requirements and award amounts. You can search the Association of American Medical College’s database to see what may be available in your state.

Planning for the Future

One way to help manage PA school debt is to build a budget — and stick to it. Ideally, a budget can help you take control of your money and make sure you have enough to repay your loans each month.

A simple way to create a budget is to calculate your total income. Next, list out all of your necessary expenses, which include things like rent or mortgage payments, groceries, car payments, and student loan payments.

Then, list your discretionary expenses, such as entertainment, gym memberships, and clothing. Once you have that information, choose a budgeting system, such as the 50/30/20 method, in which you allocate 50% of your income to necessary expenses, 30% to discretionary expenses, and 20% to saving, such as for an emergency fund or retirement.

Refinancing School Debt

If a borrower’s student loan debt reaches a point where making progress on repaying the loans feels nearly impossible, federal student loan repayment and forgiveness programs either don’t apply or aren’t the right fit, or personal loans are involved, then refinancing with a private lender might be an option to consider.

With student loan refinancing, borrowers get a new loan, which is used to pay off one or more of their existing loans. In addition to combining multiple loans into one, qualified borrowers may also get a better interest rate through refinancing, reducing their monthly payment and the amount they pay in interest over the life of the loan, assuming the loan term does not change.

However, refinancing federal student loans means a borrower is no longer eligible for federal benefits such as forgiveness and income-driven repayment. Make sure you won’t need these programs before moving ahead with refinancing.

Recommended: Student Loan Refinancing Calculator

The Takeaway

Becoming a PA can result in a rewarding career — but also a significant amount of student loan debt. Fortunately, there are ways to make repayment easier, including student loan forgiveness, income-driven repayment plans, loan assistance repayment programs, and student loan refinancing. Borrowers can also create a budget to help them gain control of their finances as they work to repay their loans.

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

How do I get PA loans forgiven?

To get PA loans forgiven, a borrower has several options, including pursuing Public Service Loan Forgiveness. PSLF requires that you work in an eligible public service job for the government or a nonprofit and make 120 qualifying loan payments. Or you can opt for an income-driven repayment plan to get loans forgiven after a payment period of 20 to 25 years. Finally, you should look into federal and state programs that give loan repayment assistance to PAs that work for a certain number of years in a high-needs community.

What is the 50/30/20 rule for student loans?

The 50/30/20 rule is a budgeting method that allocates 50% of a borrower’s income to necessary monthly expenses (including student loan payments), 30% to discretionary expenses, and 20% to savings. Users of the method can adjust the percentages to direct more money to student loan repayment. For instance, by cutting discretionary spending back to 20%, they could allocate extra money to their loan payments. The goal of this budgeting method is to help borrowers balance and gain control of their finances so they can manage their student loan debt.

How long does it take to repay PA student loan debt?

The average student loan borrower takes 20 years to pay off their student loans, according to the Education Data Initiative. However, the time it will take for a specific borrower to pay off their PA loan debt depends on how much debt they have, the payment plan they’re on, and their financial situation, among other factors.

For example, a borrower on the Standard Repayment Plan will pay off their loans in 10 years, though their fixed monthly payments will typically be high compared to other repayment plans, while a borrower on an income-driven plan can work to repay their loans for 20 or 25 years, after which any remaining balance is forgiven.

SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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

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

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


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

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 Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

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-Q425-010

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