AllSLR Archives

Jan

2026

A smiling woman in a bright pink blazer speaks with a group of young men and women who are gathered around her.

A Look Into the Public Service Loan Forgiveness Program

By Maureen Shelly | Debt Payoff, Fresh Out of School, Student Loans, student_loan | No Comments

If you work in public service for a government agency or nonprofit, you may be able to have the remaining balance on your federal student loan forgiven after a certain number of payments through the Public Service Loan Forgiveness Program (PSLF).

Created by the Education Department (ED) in 2007, PSLF is intended to help public-service professionals who may earn lower salaries and struggle to repay their federal student loans. In this context, many teachers, firefighters, and social workers qualify.

However, it’s important to be aware that on October 2025, acting on an executive order signed by President Trump, the ED announced a final rule to the PSLF program, which may exclude some borrowers starting on July 1, 2026.

Below is the latest information borrowers need to know about PSLF eligibility and student debt forgiveness.

Table of Contents

What Is Public Service Loan Forgiveness?
What Are Public Service Loan Forgiveness Jobs?
Who Is Eligible for the Public Service Loan Forgiveness Program?
Applying for Public Service Loan Forgiveness
Current State of the Program
Pros and Cons of the Public Service Loan Forgiveness Program
Alternatives to the Public Service Loan Forgiveness Program
FAQ

Key Points

• Under PSLF, federal Direct Loan balances are forgiven after 120 qualifying monthly payments and working for an eligible employer.

• Eligibility requires working in public service for a qualified government or 501(c)(3) non-profit organization, including full-time AmeriCorps or Peace Corps volunteers.

• Only full-time workers, meeting employer definitions or working at least 30 hours weekly, are eligible for the program.

• Only federal Direct Loans, such as Stafford, Grad PLUS, and Direct Consolidation loans, qualify for PSLF.

• Borrowers pursuing PSLF can enroll in an income-driven repayment plan to qualify for Public Service Loan Forgiveness.

What Is Public Service Loan Forgiveness?

The PSLF program provides professionals working full-time in public service with a way to ease the burden of their student loan debt. After making 120 qualifying monthly payments under an eligible repayment plan, such as income-driven repayment, and by working full-time for a qualifying employer, the remaining balance of a borrower’s federal Direct Loans will be forgiven.

What Are Public Service Loan Forgiveness Jobs?

Borrowers working as teachers, firefighters, first-responders, nurses, military members, and doctors may qualify for PSLF. But with this program, it is not only the type of job you have that determines if you can get forgiveness, but also the type of employer.

Currently, qualifying employers include federal, state, local, tribal government and non-profit organizations. (As noted above, the new final rule may affect which organizations qualify, starting July 1, 2026.)

To find out if your employer currently qualifies for PSLF, you can use the Federal Student Aid employer eligibility search tool.

Who Is Eligible for the Public Service Loan Forgiveness Program?

The way that PSLF works is that borrowers must meet certain eligibility criteria to qualify. These criteria include:

Work for a Qualified Employer

Part of PSLF eligibility requires working for a qualified government organization (municipal, state, federal, military, or tribal) or a qualified 501(c)(3) non-profit organization. Full-time AmeriCorps or Peace Corps volunteers are also currently eligible for PSLF.

Some other types of non-profits also qualify, but labor unions, political organizations, and many other non-profits that don’t have 501(c)(3) status do not qualify. Working for a government contractor doesn’t count; you have to work directly for the qualifying organization.

Only full-time workers are eligible — that is, workers who meet their employer’s definition of full-time or work a minimum of 30 hours per week. People employed at multiple qualifying organizations in a part-time capacity can be considered full-time as long as they’re working a combined 30 hours per week.

Having Eligible Loans

Only federal Direct loans, including Stafford loans, Grad PLUS loans (but not Parent PLUS loans), and Federal Direct Consolidation loans, are eligible for PSLF.

If you hold Federal Family Education Loans (FFEL) or Perkins loans, you need to first consolidate them into a Direct Consolidation Loan for them to be eligible for PSLF. Just be aware that unless your Direct Consolidation loan was disbursed on or before October 1, 2024, any payments you made on the FFEL Program loans or Perkins Loans before you consolidated will not count toward the 120 qualifying payments for PSLF.

Private student loans are not eligible for PSLF.

Recommended: Student Loan Forgiveness Guide

Applying for Public Service Loan Forgiveness

To apply for the PSLF program, you’ll need to take the following steps:

1. Consolidate FFEL Program and Perkins Loans

As noted above, borrowers with FFEL Program and Perkins Loans must consolidate them with a Direct Consolidation Loan to be eligible for PSLF.

However, as mentioned, payments on FFEL and Perkins loans included in a Direct Consolidation Loan that was disbursed on or after October 1, 2024, will not count toward PSLF. Your payment count on the new Direct Consolidation Loan will start at zero.

2. Sign Up for an Income-Driven Repayment Plan

There are now three available income-driven repayment plans to choose from — Pay As You Earn (PAYE), Income-Contingent Repayment (ICR), and Income-Based Repayment. These plans are designed to make student loan debt more manageable by giving you a monthly payment based on your discretionary income and family size. You must enroll in one of these plans to qualify for PSLF.

Note that any borrowers on the SAVE (Saving on a Valuable Education) plan have been placed in forbearance due to a court injunction; the time in forbearance does not count toward PSLF. Those who are eligible need to switch to one of the other three IDR plans to continue making qualifying PSLF payments.

3. Certify Your Employment

To certify your employment, use the PSLF Help Tool. You can either print out the form for you and your employer to sign and then send it in for approval, or you can sign the form electronically and the Education Department will email your employer and request their electronic signature.

4. Make 120 Qualifying Monthly Payments

You must make these qualifying payments while you’re employed by a qualified public service employer. If you switch employers you can still qualify as long as you continue to work for a qualifying organization — but you will have to certify your employment with your new employer.

5. Apply for Forgiveness

After you make your final payment toward PSLF, you will need to fill out and submit a PSLF form for forgiveness.

Current State of the Program

Because the program was created in 2007, the first borrowers to qualify for loan forgiveness applied in 2017. However, early estimates by the Government Accountability Office (GAO) reported the denial rate as more than 99%. At the same time, many borrowers weren’t even aware that the forgiveness program existed.

In 2022, the Biden administration worked to address these issues by introducing a “limited PSLF waiver,” which allowed student loan holders to receive credit for payments that previously didn’t qualify for PSLF. That was later followed by an IDR account adjustment program. In October 2024, the administration said that more than 1 million public servants had received debt relief through PSLF.

In March 2025, President Trump signed an executive order directing the Education Department to revise the PSLF program. In October 2025, the department announced the final rule to exclude organizations that have a “substantial illegal purpose.” Because the new rule changes the definition of a qualifying employer, it could restrict eligibility for PSLF. The rule is scheduled to go into effect on July 1, 2026, though legal challenges to the rule have been filed. For now, the PSLF program is not changing, and those enrolled in PSLF do not have to take any action, according to the ED.

Pros and Cons of the Public Service Loan Forgiveness Program

There are a number of advantages of the PSLF program, but there are some drawbacks as well. These are some of the benefits and disadvantages to consider.

Pros of PSLF

1. The balance of your student loans is forgiven after a set period of time. This can result in significant debt relief for qualifying borrowers working in the public sector.

2. The amount forgiven is typically tax-free when it comes to federal taxes. Because it generally isn’t considered taxable income, the amount forgiven under PSLF isn’t subject to federal taxes, unlike other loan forgiveness programs. (Some states may tax the amount, however.)

3. By offering forgiveness, PSLF encourages professionals to work in public service roles. Professionals in qualifying jobs are making a difference, and your government appreciates it enough to give you a break on your federal student loans.

4. Those pursuing PSLF may have lower monthly student loan payments than they would otherwise because they are on an income-driven repayment plan that bases their payments on their discretionary income and family size.

Cons of PSLF

1. The rules regarding PSLF— including the types of loans, employers, and repayment plans that qualify — are strict.

2. The time commitment is long-term. Borrowers in the program must be employed with a qualifying public service employer — potentially earning a lower salary than they would in the private sector — for at least 10 years.

3. The process to enroll in PSLF and achieve forgiveness can be quite time-consuming and complex.

4. There is some uncertainty regarding the program. The new final rule scheduled to be implemented by the Education Department on July 1, 2026 could restrict some public service organizations and their employees from PSLF.

Alternatives to the Public Service Loan Forgiveness Program

For borrowers looking for student loan debt relief, there are other options besides PSLF. For example, the Teacher Loan Forgiveness program is available to full-time teachers who have completed five consecutive years of teaching in a low-income school. And borrowers reaping their loans under an IDR plan are also eligible for forgiveness after 20 or 25 years.

These federal forgiveness programs do not apply to private student loans. If you are looking for ways to reduce your interest rate or lower your monthly payments for private student loans, refinancing your student loans with a private lender may be an option to explore. When you refinance, you replace your existing loans with a new loan that, ideally, has a lower interest rate, which could reduce your monthly payments potentially saving you money.

However, it is important to be aware that refinancing federal student loans with a private lender may make you ineligible for the Public Service Loan Forgiveness program as well as other federal benefits, such as income-driven repayment and student loan deferment.

The Takeaway

The Public Service Loan Forgiveness program is one way that eligible borrowers working in public service may be able to have their federal student loans forgiven. Although changes to the program are scheduled to take place in July 2026, for now, the program is proceeding as usual.

Borrowers whose student loans aren’t eligible for PSLF may want to consider different options, including other forgiveness programs or 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

Who qualifies for PSLF?

To qualify for PSLF, borrowers must have federal Direct loans and work full-time in public service for a qualifying non-profit or government agency. They must make 120 qualifying payments under an eligible repayment plan, such as income-driven repayment.

What types of loans are eligible for Public Service Loan Forgiveness?

Only federal Direct loans are eligible for PSLF. Other federal loans, such as Perkins Loans and Federal Family Education Loans (FFEL) must be consolidated into a federal Direct Consolidation Loan to be eligible.

What is the downside of Public Service Loan Forgiveness?

Some downsides of Public Service Loan Forgiveness include strict eligibility rules and a long-term commitment to working in public service — typically at least 10 years — before forgiveness may be achieved. Additionally, those employed in public service jobs may earn lower salaries than individuals employed in private sector jobs.

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).

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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-Q425-066

Dec

2025

A smiling woman wearing a colorful headscarf calculates the cost of extending student loan repayment terms at her desk.

Guide to Extending Student Loan Repayment Terms

By Melissa Brock | Fresh Out of School, Student Loans, student_loan | Comments Off

Did you know that you may be able to draw out student loan repayment for 20 or 30 years? That means lower monthly payments, but you’ll pay more total interest over the loan term.

If your payments are a strain, consolidating or refinancing your student loans may allow you to stretch out repayment terms and tame those monthly bills. For borrowers with federal student loans taken out before July 1, 2026, you may also consider the Extended Repayment Plan that increases the term of your loan from 10 to 25 years. While it may make your monthly payments lower in the short term, in the long term, you’ll pay more interest with any of these options.

Ahead, we look at how student loan repayment terms work, the pros and cons of extending your loan term, and other options that might help you make your monthly payments more affordable.

Table of Contents

How Long Are Student Loan Repayment Terms Usually?
What Are the Pros and Cons of Extending Repayment Terms?
How Long Can You Extend Your Student Loans For?
Refinancing Your Student Loans to a 30-Year Term
Other Ways to Reduce Your Monthly Student Loan Payments
FAQ

Key Points

• Standard student loan repayment is 10 years, but federal borrowers can extend to 20–30 years through consolidation, extended repayment, or income-driven plans (for loans taken out prior to July 1, 2026).

• Extending lowers monthly payments (e.g., $562 → $330 on $50K debt) but increases total interest costs (from ~$17K to ~$29K in the example).

• Federal consolidation allows up to 30 years of repayment, while most private lenders cap terms at 15–20 years, unless using consecutive refinances.

• Pros of extending include lower monthly payments, financial flexibility, and potential access to lower interest rates. Cons include higher lifetime interest, longer debt horizon, and loss of federal benefits if refinancing privately.

• Alternatives to reduce payments include autopay discounts, income-driven repayment plans, employer contributions, or loan forgiveness eligibility.

How Long Are Student Loan Repayment Terms Usually?

Federal student loan borrowers are automatically placed on the Standard Repayment Plan of 10 years unless they choose a different plan. They enjoy a six-month grace period after graduating, leaving school, or dropping below half-time enrollment before repayment begins.

There isn’t a standard repayment plan for private student loans, but the general repayment term is also 10 years.

In the case of both private and federal student loans, you may be able to extend your student loan payments.

For example, if you have federal student loans, you can explore the following options:

• Graduated Repayment Plan: Available to borrowers with all loans taken out prior to July 1, 2026. On this plan, you start with lower payments, and payments increase every two years for up to 10 years, or up to 30 years for Direct Consolidation Loans. Consolidation combines all of your federal student loans into one, with a weighted average of the loan interest rates, and often extends your repayment time frame.

• Extended Repayment Plan: Available to borrowers with all loans taken out prior to July 1, 2026. With the Extended Repayment Plan, you can extend your loan term to 25 years, though you must have $30,000 or more in Direct or Federal Family Education Loan Program loans.

• Income-driven repayment plan: Income-driven repayment plans allow you to make payments based on your income. This is a good option if you’re struggling to pay your monthly bill because your income is low compared with your loan payments. You may be eligible for forgiveness of any remaining loan balance after 20 or 25 years of qualifying payments or as few as 10 years if you work in public service. Keep in mind that for loans taken out on or after July 1, 2026, borrowers will only have one option for income-based repayment, the new Repayment Assistance Program.

If you have private student loans, you may be able to refinance your loans for a longer term. You can also refinance federal loans, but you’ll lose access to many of the benefits, including income-driven repayment plans and student loan forgiveness.

What Are the Pros and Cons of Extending Repayment Terms?

Let’s take a look at three pros and three cons of extending your student loan repayment terms:

Pros	Cons
Allows for lower monthly payments	You’ll pay more total interest
Gives you more flexibility	Takes more time to pay off loans
Frees up cash for other things	May have to pay a higher interest rate

Lower monthly payments can give you more flexibility and free up your money to go toward other things. However, you may pay considerably more interest over time. You’ll also spend more time paying off your loans.

Here’s an example of what extending student loan repayment can look like, using a student loan calculator:

Let’s say you have $50,000 of student loan debt at 6.28% on a standard repayment plan. Your estimated monthly payments are $562.16, the total amount you’ll pay in interest will be $17,459, and your total repayment amount will be $67,459.

• Term: 10 years

• Monthly payments: $562

• Total interest amount: $17,459

• Total repayment amount: $67,459

Now let’s say you choose to refinance. Refinancing means a private lender pays off your student loans with a new loan, and you receive a new interest rate and/or term. In this case, let’s say you opt to refinance to a 20-year term and qualify for a 5% rate. Your estimated monthly payments would be $329.98. You’d pay $29,195 in total interest, and the total repayment would be $79,195 over the course of 20 years.

• Term: 20 years

• Monthly payments: $330

• Total interest amount: $29,195

• Total repayment amount: $79,195

In this example, doubling the term but reducing the interest rate results in lower monthly payments — a relief for many borrowers — but a higher total repayment sum. You’ll pay nearly double in interest charges over the life of the loan.

How Long Can You Extend Your Student Loans For?

You can extend your federal student loan repayment to 30 years on a Graduated Repayment Plan if you consolidate your loans. Again, only borrowers with loans taken out prior to July 1, 2026 will be eligible.

Most private lenders limit refinancing to a 20-year loan term, but borrowers who are serial refinancers may go beyond that. With consecutive refinances, you can stretch a private loan term to 25 to 30 years.

Consecutive Refinances

You can refinance private or federal student loans as often as you’d like, as long as you qualify. Refinancing can benefit you when you find a lower interest rate on your student loans, but be aware of the total picture:

Pros	Cons
May save money every time you refinance	Will lose access to federal programs like loan forgiveness, income-driven repayment, and generous forbearance and deferment if federal student loans are refinanced
May allow for a lower interest rate and lower monthly payments	If you choose a longer loan term, you may pay more interest over the life of the loan
Most student loan providers don’t charge fees for refinancing, such as origination fees or prepayment penalties	You may not qualify for the best rates if you have a poor credit score

How do you know when to refinance student debt? If you find a lower interest rate, you could save money over the life of the new loan.

You can use a student loan refinancing calculator to estimate monthly savings and total savings over the life of the loan.

Refinancing Your Student Loans to a 30-Year Term

You cannot directly refinance your student loans into a 30-year term because almost all refinance lenders offer a maximum of 15- or 20-year terms. But you could take advantage of consecutive refinances to draw out payments for 30 years.

Or, you could opt for consolidation of federal student loans for up to 30 years.

Consecutive Refinance Approach

Since there’s no limit on the number of times you can refinance your federal and private student loans, as long as you qualify or have a cosigner, you can refinance as many times as you need to in order to lengthen your loan term.

Direct Consolidation Approach

If you have multiple federal student loans, you can consolidate them into a Direct Consolidation Loan with a term up to 30 years. Because the loan remains a government loan, you would keep federal student loan benefits and may even qualify for loan forgiveness after 20 or 25 years.

While extending your loan term may reduce your monthly payments in the short-term, it’s likely it will cost you more in interest in the long term. If you are struggling to make your federal loan payments, you might be better off choosing an income-driven repayment plan instead of extending your loan term.

Other Ways to Reduce Your Monthly Student Loan Payments

One of the best ways to reduce your monthly student loan payments is to talk with your loan servicer to determine your options. Some student loan servicers shave a little off your interest rate if you make automatic payments, for example.

More employers are considering offering help with student loan payments as an employee perk, too. Employers can contribute up to $5,250 per worker annually in student loan help without raising the employee’s gross taxable income. And starting in 2027, the $5,250 annual limit will be adjusted for inflation.

The Takeaway

A 30-year student loan refinance can offer real benefits, including lowering your monthly student loan payments. By stretching repayment over a longer period, you may gain more financial breathing room and improved cash flow.

But this convenience comes at a cost: extending the repayment term means paying more interest overall, and refinancing federal loans removes valuable protections such as income-driven plans and loan forgiveness.

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

FAQ

What is a 30-year student loan refinance?

A 30-year student loan refinance extends your repayment term to up to 30 years, significantly reducing your monthly payment by spreading the balance over a longer period. While this can improve cash flow, it typically results in paying more total interest over the life of the loan.

What is the main benefit of refinancing to a 30-year term?

The main advantage of refinancing student loans to a 30-year term is reduced monthly payments. This can free up cash flow if current payments are a financial strain.

What is a major downside to choosing a longer term student loan refinance?

Extending the repayment period means you’ll likely end up paying significantly more in total interest over the life of the loan.

About the author

Melissa Brock

Melissa Brock is a higher education and personal finance expert with more than a decade of experience writing online content. She spent 12 years in college admission prior to switching to full-time freelance writing and editing. Read full bio.

Photo credit: iStock/blackCAT

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

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

SOSLR-Q425-069

Dec

2025

Two nurses standing in a hospital hallway in white scrubs review information on a tablet together and discuss it.

What Is the Average Nurse Salary?

By Janet Siroto | Building Your Career, Life & Career, student_loan | No Comments

Nursing can be a rewarding career in a couple of important ways. It involves caring for the health of others, which can be satisfying. A nursing degree can also mean job stability and a good paycheck. According to the Bureau of Labor Statistics, demand for nurses will increase at 5% per year, faster than the average career growth. And the average registered nurse salary was at a median of $93,600 per year in 2024. Compare that with the median US salary for the same period of $61,984, and you can see that nursing can be a lucrative career.

The average nursing salary will vary depending on the type of nursing you do. For instance, there’s the average nurse salary vs. the average registered nurse salary vs. the average nurse practitioner salary. Qualifications and other factors will determine how much you make as a nurse.

Read on to learn more about nursing salaries, the cost of getting a nursing degree, and ways to pay for it. This information can help you decide if nursing is the right career path for you, and, if so, which type of nursing you want to pursue.

Table of Contents

Average Salaries for Different Types of Nurses
Average Salaries and Location
How Much Does it Cost to Get a Nursing Degree?
Paying for Your Nursing Degree
Student Loan Forgiveness Options for Nurses
Repaying Student Loans after Nursing School
FAQ

Key Points

• The median registered nurse (RN) salary is $93,600 per year, well above the U.S. median salary of $61,984, with demand projected to grow 5% annually.

• Salaries differ by role: LVN/LPNs average $62,340, RNs $93,600, Clinical Nurse Specialists $94,945, and Nurse Practitioners $137,00.

• Nursing pay varies widely by location, with Washington and California among the highest, and Mississippi and Alabama among the lowest.

• Education costs range from $2,000 to $18,000 for LPN programs, and $57,000+ for advanced degrees, plus fees for supplies, licensing, and exams.

• Nurses may qualify for loan forgiveness programs like PSLF, NURSE Corps, or NHSC, or manage debt through repayment plans and refinancing.

Average Salaries for Different Types of Nurses

If you’re considering nursing as a career and wondering how much nurses make, it’s vital to know about the different types of nurses. Each has its own education and certification requirements.

• A licensed vocational nurse (LVN) or licensed practical nurse (LPN) is one of the lowest-paid jobs within the nursing field. Job responsibilities are typically similar for LVN and LPNs. California and Texas use the term LVN, while the rest of the country uses the designation LPN. These positions also have the lowest educational requirements.

While LVN/LPN roles don’t always require a college education, there are usually state-approved training certification programs. Most of these courses take aspiring LVN/LPNs one year to complete, and then they must pass the NCLEX-PN examination for state licensing. How much does a nurse make a year with this kind of credential? The average salary for LVN/LPNs as of 2024 was about $62,340 annually.

• Aspiring registered nurses (RN) typically need a bachelor’s or associate degree from an accredited program. There are also some accelerated programs available and some second degree programs for students who already have a bachelor’s degree in another field.

After successfully completing their chosen coursework, nursing students must then pass the NCLEX-RN exam in order to become a certified RN. In addition, RNs usually must obtain a state license after passing the NCLEX-RN exam.

To drill down on the details here, know that each state has its own licensing board. You may want to research the specific requirements in the state where you plan to practice. How much do RNs make? The average RN salary as of 2024, as noted above, was approximately $93,600 per year. (Below you will find state-by-stage nursing salaries, though not specifically for RNs.)

Next, consider the career of a Clinical Nurse Specialist (CNS). This type of nurse has gone a step beyond RN and pursued additional education. At a minimum, you must have a master of science in nursing (MSN) to become a CNS.

A CNS typically trains extensively in a specialty area, such as emergency medicine, oncology, or women’s health. In 2024, the average salary for a CNS was $94,945 annually and it may be well above $100,000 depending on location, which is higher than the RN salary, reflecting the additional education and skills.

• A Nurse Practitioner (NP) holds an advanced degree, but their responsibilities vary slightly when compared with a CNS. For example, in most states, a nurse practitioner is able to prescribe medication, while a CNS is not. The average nurse practitioner salary in 2024 was $137,000 annually.

Average Salaries and Location

Here’s another factor that can impact the average nurse’s salary: location. After all, wages and overall cost of living can vary dramatically depending on whether you live in, say, a small town or close to a pricey urban center.

Check this chart to see how average nurse salaries compare state by state. Note that these figures reflect LPN salaries, which are at the lower end of the spectrum, but they can give you an idea of how much nurses make by location. This could be good information to consider when deciding where to practice.

State	Average Annual Nurse Salary
Alabama	$50,760
Alaska	$77,850
Arizona	$72,840
Arkansas	$52,540
California	$79,090
Colorado	$68,570
Connecticut	$70,240
Delaware	$66,510
District of Columbia	$70,530
Florida	$60,320
Georgia	$58,090
Hawaii	$67,540
Idaho	$59,340
Illinois	$68,450
Indiana	$62,990
Iowa	$59,640
Kansas	$59,930
Kentucky	$57,410
Louisiana	$54,610
Maine	$72,600
Maryland	$70,700
Massachusetts	$76,400
Michigan	$65,430
Minnesota	$61,270
Mississippi	$49,960
Missouri	$58,900
Montana	$58,710
Nebraska	$60,240
Nevada	$71,460
New Hampshire	$73,850
New Jersey	$71,300
New Mexico	$56,690
New York	$66,380
North Carolina	$62,040
North Dakota	$60,110
Ohio	$60,600
Oklahoma	$55,270
Oregon	$78,160
Pennsylvania	$62,550
Rhode Island	$77,240
South Carolina	$58,430
South Dakota	$51,230
Tennessee	$53,490
Texas	$60,020
Utah	$61,390
Vermont	$68,580
Virginia	$63,380
Washington	$79,970
West Virginia	$52,540
Wisconsin	$61,680
Wyoming	$61,080

How Much Does it Cost to Get a Nursing Degree?

The cost of getting a nursing degree varies based on the type of nursing program you choose. Each of the nursing positions listed above requires different degrees and certification.

• The process to become an LVN/LPN generally costs between $2,000 and $18,000.

• Taking an RN two-year associate program can cost $6,000 to $25,000.

• An alternative is to become an RN through a four-year bachelor’s program. This process works similarly to most other bachelor’s degree programs and typically costs the same as a four-year college or university.

• In addition to having already been an RN, both CNS and NP careers require advanced degrees. Typically, a masters of science in nursing (MSN) is required for both positions, which can cost between $18,000 to $57,000 in total.

• Some choose to further their education, becoming a Doctor of Nursing Practice (DNP). These degrees can be expensive but also have the potential to increase a nurse’s salary. After a master’s degree, expect to pay around an additional $21,000 to $39,000, but your nursing salary is likely to rise, too.

There are usually costs beyond nursing school tuition. You’ll likely have to buy textbooks and supplies like a lab coat, scrubs, and a stethoscope. Many programs also charge additional lab fees each semester. Many schools will require nursing students to take out liability insurance and get some mandatory immunizations.

After graduating from your chosen program(s), you’ll also likely want to factor in the cost of licensing and exam fees as you enter the job market.

Paying for Your Nursing Degree

Becoming a nurse can be a pricey process, depending on the path you choose. But there are options available to help students pay for their nursing degree. The American Association of Colleges of Nursing has a database of scholarships for nursing schools. As you may know, scholarships don’t need to be repaid. This can make them an especially valuable resource in making ends meet as a nursing student.

In addition, federal aid, including grants, scholarships, work-study, and federal student loans could provide some relief. To apply, students must fill out the Free Application for Federal Student Aid (FAFSA®) each year.

Student Loan Forgiveness Options for Nurses

There are a number of student loan forgiveness programs available to nurses. Keep in mind that each typically has its own program requirements, so it’s helpful to review them closely to determine whether you qualify.

• Public Service Loan Forgiveness (PSLF) forgives certain federal Direct loans after 10 years of qualifying, on-time payments. This program is open to borrowers who work for a qualifying organization. You can find details online about qualifying for the PSLF program to see if you could benefit from it.

• The NURSE Corps Loan Repayment Program will repay a portion of a nurse’s eligible student loans when they work full time at a Critical Shortage Facility or as a faculty member at a qualifying nursing school. Those accepted by the program are eligible to have 85% of their outstanding loan balances forgiven over a two-year commitment.

• The National Health Service Corps Loan Repayment Program provides loan forgiveness to qualifying nurses who commit to working for two years in clinical practice at a National Health Service Corps site.

Repaying Student Loans after Nursing School

If you borrowed federal or private student loans to help you pay for nursing school, developing a repayment strategy can be valuable. Not only will it set you on a path to repaying your debt, it can teach you valuable budgeting skills as well.

If you don’t qualify for any of the available loan forgiveness options, federal student loans come with a few different student loan repayment plans so you can find the option that works best for your budget.

If you relied on private student loans to help you pay for your tuition at nursing school, you may want to review your repayment terms. Each lender will determine their own terms and conditions for the loans they lend.

As you develop a game plan to help you repay your student loans, one option to consider is student loan refinancing.

When you refinance student loans, you take out a new loan with new terms. This loan can then be used to repay your existing loans. If you borrowed multiple loans, that means you could have the option to consolidate them into one single monthly payment — potentially with a lower interest rate.

However, it’s important to keep in mind a couple of factors:

• You may pay more interest over the life of the loan if you refinance with a longer term.

• If you are considering refinancing federal student loans, know that they come with an array of benefits and protections that are forfeited if you refinance.

To see how refinancing could impact your student loan, you can take a look at this student loan refinancing calculator.

The Takeaway

Nursing can be a challenging but rewarding profession, and the average nurse salary of $93,600 could provide a well-paying career. There are different kinds of nursing degrees and positions, so it’s wise to do your research to understand what each one requires and which might best suit your needs. Also, financing your education as a nurse can also need research to understand the obligation and how you might fund it.

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

FAQ

Which U.S. state pays nurses the most?

The state that pays nurses the most is the state of Washington, where LPNs make an average of $79,970 a year. California isn’t far behind with an annual LPN salary of $79,090. Keep in mind that salaries for LPNs are at the lower end of the nursing salary spectrum. An RN in Washington state makes an average of $99,519 a year by comparison.

What type of nurse makes $100,000 a year?

A nurse practitioner (NP) can make well over $100,000 a year. For example, in 2024, the average NP made $137,000 annually. This type of nurse has an advanced degree, typically a master’s of science in nursing. These professionals provide many of the same services as doctors, including performing medical procedures and prescribing medication.

Can an RN make $200,000 a year?

Yes, it’s possible for an RN to make $200,000 a year, especially if they work in high-demand positions such as certified nurse anesthetists or travel nursing, or hold an administrative or leadership position.

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

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

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

SOSLR-Q425-043”

Dec

2025

A young woman sits at a desk intensely focused on a laptop, while working on her college essay.

What Not to Write About in a College Essay

By Austin Kilham | Going to College, Student Loans, student_loan | Comments Off

To help boost the chances that you’ll get into the college of your dreams, it’s important to write a great college essay. The big question is, what should you write about?

When brainstorming ideas for topics, keep in mind that you want your college essay to make you look good and also help you stand out from other applicants. Toward that end, it helps to know what not to write about in a college essay.

Themes that consistently make the “worst college essay topics” list include cliches, stories that college admissions officers have read some version of countless times before, and any topic that reflects negatively on your personality.

Here’s a closer look at the college essay topics you’ll want to avoid, plus insights into the type of writing that can give you a leg up in the admissions process.

Table of Contents

What Do Colleges Look for in Essays?
Why Should You Avoid Certain Topics for College Entrance Essays?
College Essay Topics to Avoid
FAQ

What Do Colleges Look for in Essays?

Colleges are looking for several things in your admissions essay. Generally, they want you to demonstrate strong writing, authenticity, and a unique perspective. Admissions officers are also typically looking to get a sense of who you are as an individual so they can better determine whether you’re a good fit for the rigors of academic life and school culture.

A good essay demonstrates this through vivid storytelling that illustrates your points rather than simply telling the reader what you want them to think and how you want them to feel.

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Why Should You Avoid Certain Topics for College Entrance Essays?

Generally, you want to avoid essay topics that could give admissions readers the wrong impression of who you are. It’s also wise to steer clear of essay topics that are cliches. A cliche is an idea (or phrase) that is overused and, as a result, has lost its meaning and potency. At best, cliche college essays can make you look unoriginal, and at worst they can make you look lazy.

Rather than lean on cliches, you’ll want to dig deep into what makes you and your thoughts original. Ideally, you want to choose an essay topic that demonstrates vulnerability and reveals your unique perspective and voice.

Recommended: Important College Application Deadlines

College Essay Topics to Avoid

What follows are some topics you may want to avoid when choosing what to write about in your college essay.

Restating Your Resume

Your college application already includes school transcripts and information about your activities and awards. Rehashing this information is unlikely to translate into a compelling narrative, and it doesn’t teach college admissions officers anything new about you.

If you want to write about a specific extracurricular activity, consider choosing just one, and exploring it in depth to give your reader a better sense of who you are as a person.

Sports Challenges

Sports challenge stories tend to fall into the cliche category of college essay topics. They’re overused, and they tend to be predictable. For example, you may have scored a goal at the last moment, pulling ahead against all odds.

That’s not to say you can’t write about sports in your essay. Original and authentic sports stories that steer clear of cliches can be highly successful. For example, you could focus on how the skills you learned as part of a team translated to another unrelated challenge.

Your Big Performance

As with sports challenges, stories about big performances — music solos, starring roles in plays, speeches — often follow similar plots. The performance goes well, or poorly, and the writer discovers the value of preparation or how they had the inner strength to move past a major disappointment. However, you can use a performance story to tell an original and engaging tale.

Your Hero

It may be tempting to write about a person who has inspired you. But college essays are short. And if you’re not careful, you may spend too much time writing about someone other than the person who should be the star of the essay — you. Remember admissions officers want to know what makes you stand out, not what makes your heroes special.

Romantic Heartbreak

Breaking up is hard to do — even more so when it’s young love. Yet the trials and tribulations of teen romance may not be the best topic for a college essay. Much like writing about your heroes, you may pay too much lip service to someone else, while neglecting to convey enough of your own story.

Illegal or Unethical Activities

If you’ve ever gotten tangled in ethically questionable or illegal activities, your college essay is generally not the right time to mention them, even if it makes for a great story. If you do, even in passing, admissions may worry about the types of behavior you’ll engage in once on campus.

Service Trips

A trip to help serve others in the U.S. or abroad might seem like a great topic for a college essay. Unfortunately, that means a lot of students write about these opportunities, making it one of the most common essay topics. What’s more, these essays tend to follow the same beats. As a result, choosing this topic doesn’t always help you stand apart from the crowd.

Things That Happened Before High School

Writing about events that took place before high school may not give admissions a good sense of what you are like now. The kid who won a spelling bee in seventh grade may bear little resemblance to the high school senior applying for schools. Consider writing about recent events, or be careful to relate events from your past to high school and your current self.

Moving to a Different Part of the Country

Moving is always challenging. But countless students move across the country and switch schools each year. As a result, essays that focus on moves are relatively common. If you decide to write about a move, shift the focus of the essay to how it changed you as a person, pushing you to pursue new interests. It could work if it’s not a story college admissions officers haven’t heard many times before.

Immigrant Stories

If you’ve moved from abroad, be aware that many students in the U.S. have immigrant stories. As a result, stories about making the move, struggling to learn new languages, and trying to fit into a new culture are common essay topics. If you choose to write about this topic, consider narrowing your focus on one aspect of your story that illustrates how you’ve grown and changed.

How You Were Challenged by a Bad Grade

How you overcame a challenge is often one of the essay prompts on the Common App. You might think that writing about what you did after getting a low grade fits the bill, but it’s generally not a good idea to delve into this topic. For one, it highlights the fact that you got a bad grade to admissions’ officers. Another problem is that other applicants will likely have more serious hardships and challenges they have had to overcome, which could make your essay topic appear less consequential.

Tragedies

In and of themselves, tragedies are not necessarily a bad topic for college essays. However, it can be easy to fall into cliched writing as you tell these stories. Hackneyed themes and phrases include “life is short,” “time heals all wounds,” and “seize the day.” If you write about a tragedy you have known or experienced, be sure to make it personal, honest, and specific to you.

Sensitive Topics

Generally speaking, if a topic is one you would avoid bringing up at the holiday dinner table, you’ll likely want to avoid it in your essay as well. It can be tricky to discuss things like politics or religion in a way that is original and personal to your experience. What’s more, essays on these topics may trigger unconscious bias in the admissions staff reading your essay, which can color how they view you and your fit at the school.

Your Privilege

If you’ve been lucky enough to grow up with a lot of resources at your disposal, discussing them may not be a strong strategy. It can make it seem like you haven’t had to work through any challenges. Instead you might consider essay topics that demonstrate vulnerability and grit in the face of adversity.

Attempts to Break the Essay Mold

You may be tempted to try to make yourself stand out with a creative essay that breaks traditional forms. For example, you might try to write a poem instead. You’re likely not the only one who has had this idea, and you may rob yourself of the chance to demonstrate your creativity through prose. The traditional essay is what admissions has asked for, and it may give you the most opportunity to demonstrate who you really are.

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The Takeaway

The best college essays tend to focus on specific moments when a student has learned something important, changed, and grown as a person. Ideally, you want your college essay to give readers a sense of your character, and how you may continue to change as you pursue your academic career. Avoiding cliches and other tricky topics can help you successfully reveal your true self.

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

FAQ

What are the most common essay topics?

Some of the most common essay topics include:

• A meaningful interest or talent

• Something meaningful in your background/identity

• Lessons you’ve learned from obstacles you’ve encountered

• Times when your beliefs have been challenged

• Something someone has done for you that’s made you grateful in a surprising way

What Do College Essays Look for?

Colleges generally look for authenticity, strong writing, and a unique perspective in your essay. Admissions officers want to get a sense of who you are as an individual beyond your academic record. The essay is your chance to demonstrate maturity, self-awareness, and how you would contribute to the school’s culture. A successful essay uses vivid storytelling to show these qualities rather than just telling the reader.

How Much Does Your College Essay Matter?

How much your college essay matters depends on the institution. For highly selective colleges, the essay can be a critical factor, often serving as one of the few places an admissions committee gets a clear sense of your unique personality and voice beyond your grades and test scores. It can tip the scales when an applicant’s academic record is similar to others. For schools with a less holistic review process, its importance may be slightly lower, but it remains a valuable opportunity to demonstrate strong communication skills and a good fit for the school’s culture.

Photo credit: iStock/Delmaine Donson

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

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Dec

2025

Pastel flat lay of laptop and office supplies arranged in geometric blocks, representing a modern workspace.

What Is a Good GMAT Score?

By Austin Kilham | Student Loans, student_loan | Comments Off

If you’re applying to business school and want to earn an MBA, you likely understand the importance of doing well on the Graduate Management Admission Test, or GMAT™. Strong scores may help you get into your dream program.

The three digit number that qualifies as a good score can depend on how competitive the program you’re applying to is. In general, a 655 or higher is considered a good GMAT score, but in some cases, over 700 may be needed.

In addition, schools take a look at your unique background when evaluating your application to help them build a well-rounded student body. As a result, what qualifies as a strong score varies by school and by applicant. Learn more about the GMAT, scores, and applying to business school.

Table of Contents

How Is the GMAT Scored?
How to Figure Out Your GMAT Range
Researching Average Scores
How to Prepare for the GMAT
What Business Schools Look At In Addition to the GMAT
FAQ

Key Points

• A good GMAT score is 655 or higher, placing test takers in the top 10%.

• Scores range from 205 to 805, with a mean score of 553.

• Schools consider unique backgrounds, professional achievements, and career goals alongside GMAT scores.

• Preparation should span 100-120 hours over six months, including practice tests and time management.

• Unofficial scores are available immediately after the test, while official scores are provided within 3-5 days.

How Is the GMAT Scored?

If you’re deciding whether getting an MBA is worth it, you’re probably curious what score you’d need on the GMAT to be accepted.

Before considering what is a good GMAT score, know that the total range on the latest version of the test, which is called the GMAT Focus Edition, is 205 to 805. The mean score among all GMAT test takers from 2019 to 2024 was 553, according to the Graduate Management Admission Council™ (GMAC), which administers the exam. Seventy-five percent of test takers score a total of 495 or higher.

Generally speaking, a good GMAT score is 655 or higher, which would put you in the top 10% of test takers. For more competitive programs, you may want to aim for a score over 700. What is the highest GMAT score — a perfect 805— is difficult to achieve, but can potentially counteract other weak points in a student’s application.

After taking the GMAT, students will receive a score report, which will feature four different numbers:

• Total score

• Quantitative Reasoning score

• Verbal Reasoning score

• Data Insights score.

Total score is calculated by combining the scores of each of the three sections. Each section contributes equally.

Here’s a breakdown of how each is calculated, according to The Princeton Review®:

Section	Score Range	How the Score Is Calculated
Total	205 to 805	This score is reported in 10-point increments and is calculated based on performance in all three sections equally.
Quantitative Reasoning	60 to 90	Based on the number of questions you answered correctly, how difficult the questions you got right are, and your pattern of performance throughout the section. Reported in one point increments.
Verbal Reasoning	60 to 90	Based on the number of questions you answered, correctly, and how difficult the questions you got right are. Reported in increments of one.
Data Insights	60 to 90	Based on your ability to interpret data in various formats and to apply logical reasoning to reach your conclusions. Reported in increments of one.

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How to Figure Out Your GMAT Range

As mentioned above, the full GMAT range goes from 205 to 805. Though a score of 695 to 705 puts you in competitive standing, what functions as a good score is relative. In other words, a good score for you is the one that helps you get into the program of your choice and advance your career goals.

• Students interested in attending a top B-school will generally need a high score. For example, the 2026 class of full-time MBA students at Stanford University had average GMAT scores of 738.

• However, if you’re interested in a less competitive program, you may be fine with a score under 600, especially if you have a strong professional background.

Here’s another way to look at it: What is a high GMAT score for someone applying to a less competitive B-school may be seen as low to someone applying to a top-tier program.

Before taking the GMAT, think about your career goals. What type of program do you want to attend to achieve your business objectives? Does the MBA program’s affordability factor into your decision-making process? Do you have the potential time and money required to earn a lofty GMAT score to get into a top institution?

• For example, someone aiming to be CEO of a Fortune 500 company, may want to attend a top-rated school.

• Those planning to lead a smaller business or even start their own enterprise might pursue a less competitive program.

To figure out just how competitive your scores need to be, research the programs you’re interested in. Some schools will post the average GMAT score of their students, which can help you see what you likely need.

It may also help to reach out to school admissions to find out what factors have a big impact on admissions.

Researching Average Scores

When thinking about test scores, it’s possible to get too narrowly focused on that one number. Schools are looking at a student’s complete application to determine whether they’ll be a good fit.

However, you can certainly get a better idea of the types of students your target schools are admitting by researching average GMAT scores.

The easiest way to do this is to log on to the school’s MBA class profile web page, which may give you all sorts of information. You’ll likely find everything from the average GMAT test score to the number of applicants versus the number of enrolled students to demographic information.

Keep this in mind: The total score isn’t the only thing that schools look at, and the weight given to each of the three scoring sections on the test may vary from school to school.

For example, an MBA program with a focus in data science might zero in on your Data Insights scores more than other programs. Reach out to school admissions offices to find out if they give special weight to a particular score section.

Knowing the average scores of your target program can help you understand how competitive your score needs to be.

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How to Prepare for the GMAT

As you prepare for the GMAT — and to achieve your target score — it can be a smart move to give yourself a good amount of time to study. You may want to begin the process as much as six months in advance of taking the test. Common test prep advice suggests that it may take 100 to 120 hours or more of studying and taking practice tests to adequately prepare.

Keep in mind, you may be in school or working at the same time, researching graduate school scholarships, and living daily life. You don’t want to be stuck cramming for this test.

Set up a study schedule. Start by setting up a calendar on which you schedule study dates and times to take practice tests. Resist the urge to procrastinate.

Review the material for each section of the test at a time. You can access free practice tests online that give you an insight into the format and the types of questions you’ll be asked. Don’t get overwhelmed by trying to digest all sections at once.

Practice tests can help you identify areas that may require extra studying. They can also help you practice pacing. The GMAT is a timed exam, and time management is critical to finishing.

Unofficial vs. Official Scores

When you complete your test, you’ll typically be shown your unofficial score right away for each section as well as your official score. You are not allowed to record or print your scores. You will receive an email when your official score report is available. Your official score is typically available in three to five days.

In previous versions of the GMAT, immediately after completing the test, students were given a chance to accept it or cancel their unofficial score. That is no longer the case in the newest version of the GMAT (the GMAT Focus Edition).

If you feel as if you could use guidance as you navigate the test-taking and application process, some aspiring business students choose to hire an MBA application consultant.

What Business Schools Look at in Addition to the GMAT

A GMAT score that is on par with a program’s enrolled students can help demonstrate you are prepared for the academic rigors of the program. What’s a good GMAT score will, as noted above, vary depending on the school you want to attend.

That said, business schools look at other factors as well, including:

• Gender

• Demographics

• Your resume.

In particular, they may be looking for signals that students have what it takes to become good managers and business leaders. They may examine previous accomplishments, quantifiable achievements, and progression in a chosen career path.

For your part, be sure to think carefully about paying for grad school. That can impact which schools you may decide to apply to and which offer you accept. There are a variety of programs, from in-person to online, as well as courses of study designed for people who are already out in the work world and holding down a job.

As you consider all this, you will likely want to pay attention to the price tag. Especially if you will be in school full-time and not earning any money, it’s wise to consider the true cost of an MBA degree.

As you think about how to pay for an MBA, you may want to investigate any scholarships and grants you might qualify for.

The Takeaway

When applying to a business school, it’s critical to understand average GMAT scores, so you have a target to help you focus your studies and prepare for the test. The average score is currently 553, but a good GMAT score may be 695 or even 705 or above, depending on the program to which you are applying.

If you are accepted to a business school program, you may need to take out student loans to pay for your education. After graduating, some students may refinance their student loans, which may help them get a lower interest rate, if they qualify, and reduce the amount they owe.

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

FAQ

Is 700 a good GMAT score?

Yes. In fact, a 700 on the new GMAT is considered a very good score. It places you in the 93rd percentile of all test takers.

How are GMAT scores calculated?

GMAT scores are calculated on the difficulty of the questions a test taker answers correctly, the difficulty of the questions they answer incorrectly, and the number of questions they leave unanswered. It’s important to note that because the GMAT measures test takers’ ability to answer questions in the allotted time, there are penalties for leaving questions unanswered.

What is a top 10% GMAT score?

In the new version of the GMAT, the GMAT Focus Edition, a score of 655 or above puts you in the top 10% of test takers.

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

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

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