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While college is a good option for many people, it isn’t for everyone — and not going to a four-year college doesn’t mean you can’t have a meaningful career.

More people than ever before have a college degree, but a four-year program isn’t the only way to be successful. Even employers are realizing that there are many skills that can’t be captured in a degree program. In fact, some major tech companies, including Google and Apple, no longer require applicants to have a four-year degree for some of their positions.

There are certain jobs for which you need a college degree, like an electrical engineer, marketing manager, or teacher, but there are plenty of careers out there that don’t require additional degrees.

Keep reading for more on the pros and cons of going to college, alternatives to a college degree, and more.

Reasons Not to Go to College

There are a number of valid reasons to delay college — or put it off entirely. Here are some to consider:

•   You’re not excited about your options. Maybe you didn’t get into the schools you expected to or you’re having second thoughts when you try to imagine yourself attending the schools you did get into. If the thought of college fills you with dread or doubt rather than excitement, taking a year off to reassess your options can be a good strategy.

•   You’re unsure what career you are interested in pursuing. You may want to explore different options by being exposed to college-level courses at a community college, or spend time volunteering, working, or traveling.

•   You’re already working. If you already have a job, you may be wanting to lean into your current job or save money to go to school in a few years.

•   You’re exploring non-degree avenues. There are many high-paying trades that don’t require a degree, but may require on-the-job experience or an apprenticeship.

•   You have a plan for a gap year. Some people like to take a year to travel, work, or otherwise take a break in between high school and college to further explore their identity and what they want to do in the future.

•   You feel you’re going to college only to please your family. If you feel pressured to go to college, it may be a sign that college isn’t the right option for you, at least right now.

•   You have essential family obligations. Some students need to help their families and may not be able to take time off to go to school. These students may consider community college or a part-time degree program. Speaking with your current high school counselor may help you find ways to juggle multiple responsibilities.

•   You want to take time to pursue a talent. From sports to the performing arts to a creative path, some people choose to explore a talent more seriously, focusing time, energy, and resources prior to going to college. This can be a decision you make with the help of your family and any coaches or teachers.

Reasons to Go to College

College can be a great time to grow and learn and, for some, it’s a natural step. Here are some other reasons why college may make sense:

•   You’re excited and realistic about college. You recognize college may have ups and downs, but feel confident that college feels “right” as your next step — not just something your family or teachers expect from you.

•   A college degree will help you achieve your career goals. You’ve done your research and/or talked with alums and people working in your targeted field and feel confident that college makes sense for your career goals.

•   College fits into your overall financial plan. You have a sense of how much college will cost and a plan for how you will pay for it, which might include a combination of financial aid, savings, and federal or private student loans. You also want to make sure you will be able to manage any student loan payments after you graduate.

•   You have a ‘Plan B’ in case you realize that college isn’t the right fit. Sometimes people realize one semester into school that college may not be what they need at that moment in their lives. It can be helpful to talk about what this may be, so that you don’t feel trapped if school doesn’t feel like it’s a good fit.

Source: National Center for Education Statistics

Recommended: Full-time vs Part-time Student

Alternatives to a College Degree

Just because you aren’t interested in a four-year degree doesn’t mean you need to forgo higher education entirely. Alternative educational models, like trade schools and community colleges, offer many practical certification and two-year associate degree programs that can help you get ahead.

It is important to know that even if you’re not planning to pursue a four-year degree, you still have options when it comes to creating a career that is right for you.


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

Trade School

Sometimes known as technical or vocational schools, trade schools can prepare you for a specific job, such as a dental hygienist, electrician, cosmetologist, or web developer. These programs are normally much shorter than four years, and certain programs may allow you to finish in only a few months. There are both public and private trade schools.

Trade schools don’t award bachelor’s degrees. Instead, when you graduate from a trade school, you typically receive a diploma or certificate indicating that you are trained and certified to perform a specific job. Some trade school programs do offer associate degrees, which are the same type of degrees offered by many community colleges.

Community College

As mentioned above, community colleges usually offer two-year degrees called associate degrees. These degrees can either stand alone or be a stepping stone to obtaining a bachelor’s degree at a four-year school.

Many community colleges also offer career preparation programs that are designed to help students jump into the workforce without the need for a bachelor’s degree.

Community college could also be a great way to test out college life and see if you want to continue pursuing higher education. They tend to be much less expensive than four-year universities, which means it won’t cost you an arm and a leg before you decide if higher education is right for you.

Apprenticeships

Apprenticeships are paid positions designed to teach the apprentice about a specific job or industry. They can help you learn how to use industry-specific tools and technologies and help you develop your skills over a period of time. This may be in fields as diverse as plumbing to transportation engineering to baking.

Apprenticeships can be a win-win for employers and employees because they allow those starting out to begin working (and earning a paycheck) immediately, and they help employers fill vacant jobs.

Certificate Programs

Similar and sometimes overlapping with trade schools, certificate programs offer specialized training in a specific area. This may include coding, cybersecurity, yoga, fitness, getting a commercial driver’s license (CDL), or other areas where specialized knowledge may be a prerequisite. These certificates may also be helpful in making job seekers eligible for positions with higher starting salaries.

Recommended: Are Coding Bootcamps Worth the Money?

Taking a Gap Year

A gap year is when a student takes a year off between high school and college. Some colleges allow accepted students to defer for a year, holding a place for them in the next year’s incoming class. Some people create a travel itinerary; others may work or volunteer for the year. There are some gap year programs that create opportunities for students, but keep in mind that some programs may be costly.

Starting a Business

If you are already passionate about — and have a lot of knowledge about — a specific field or industry, you might consider skipping college altogether and jumping into that business.

Starting your own business takes a lot of hard work, but it could mean that you get to be your own boss and work in an industry you love. And because you could quickly become an expert on the products or services you provide, you aren’t necessarily at a disadvantage because you lack a degree.

Recommended: 9 High Paying Jobs That Don’t Require a Degree

If You Do Go the College Route

There are plenty of options if you choose not to attend a four-year college. However, there are also options within the world of college, including the type of college you choose, the major you decide to pursue, and how you pay for college.

There’s no denying that college can be expensive. In the 2024-25 school year, the average cost for tuition and fees at an in-state college was $11,610, while the average sticker price for a private college was $43,350. And, these numbers don’t include room and board. This can be a big financial commitment, especially if you are on the fence about pursuing higher education.

That’s why it can be a good idea to begin creating a payment strategy early. A great first step is to fill out the Free Application for Federal Student Aid (FAFSA®) to see how much federal aid — including scholarships, grants, work-study, and federal student loans — you qualify for.

Federal student loans do have limits on how much a student can borrow each year they are enrolled in school. Some students may need additional funds to bridge the gap. In that case, some may consider borrowing a student loan from a private lender to help cover college costs.

In general, it can be a smart idea to tap all your federal loan and grant options before you consider private student loans. That’s because federal loans offer some protections, such as deferment options, that private loans may not. However, private loans can cover up to 100% of the cost of attendance, including money to pay for books, room and board, and personal expenses.


💡 Quick Tip: Parents and sponsors with strong credit and income may find much lower rates on no-fee private parent student loans than federal Parent PLUS Loans. Federal PLUS loans also come with an origination fee.

The Takeaway

College can lead students on a new career path, but depending on your goals and other factors, may not be necessary. Some students may choose to pursue a trade or vocational program instead of a four-year degree, while others may simply want to wait a year or so to earn and save more money to cover the cost of going to college.

If you do decide to go to college, you’ll have to figure out a way to pay for it. Most students rely on a combination of cash savings, scholarships, grants, federal student loans, and private student loans.

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

FAQ

Why do some people not like college?

Some people dislike college due to high costs, irrelevant coursework, lack of practical skills, social pressures, and the rigid structure that doesn’t suit everyone’s learning style.

What are some alternatives to college?

Alternatives to college include trade schools, apprenticeships, online courses, bootcamps, and self-directed learning. These options often offer practical skills, lower costs, and more flexible schedules.

What are the pros of not attending college?

Pros of not attending college include saving money, allowing for early career entry, providing hands-on experience, and offering more flexibility for personal or family responsibilities.

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.

SOISL-Q325-009

When you’re in college, you likely want to choose a major that will lead to a successful and enjoyable career. If you’re a business marketing major, you may wonder whether the education you’re getting now will pay off in terms of the type of job you’ll qualify for after you graduate, and what you can earn.

Here’s a look at what you can expect as a marketing major — both during college and after you graduate.

What Does a Marketing Major Learn?

As a marketing major, you will learn various aspects and strategies for promoting a company or product, creating brand awareness, and building relationships with customers.

You may study marketing tools like social media, content marketing, and advertising, as well as public relations, sales, marketing strategy, and consumer behavior.

Once you complete your degree, you should have a thorough understanding of how to employ these tools and tactics in the real world on behalf of your employer.


💡 Quick Tip: You can fund your education with a low-rate, no-fee private student loan that covers all school-certified costs.

Who Is It Good For?

If you’re still trying to determine the best college major and are considering marketing, here’s some insight into the type of person who might thrive in a marketing career.

If you’re curious about how brands connect with customers and find yourself analyzing ads in magazines and on television, you might be a natural marketer. Marketers are typically creative and good communicators; you’ll need that ingenuity to come up with innovative marketing campaigns to compete with others in a given industry.

Depending on the job you get after college, you may work with a team on campaigns, or you may be solely in charge of doing multiple different tasks on your own. Ideally, you’ll be excited and confident about sharing your ideas for projects.

If you’ve got an analytical mind, so much the better. You’ll be able to analyze data to better understand what types of marketing efforts are working to reach your audience and which aren’t.

Recommended: 20 of the Most Popular College Majors

Why Consider Marketing?

Marketing isn’t a trendy or even industry-specific career; it’s one that every brand on earth needs. As a result, there will likely always be careers in marketing. Because marketing is what propels a company to sell products or services, it has a return on investment, and that means that companies are willing to also invest in smart marketing professionals.

Everywhere you look, there’s marketing, from the product placement in your favorite television show to the daily Instagram posts from influencers that offer “sponsored content.” Being a part of this exciting field gives you the opportunity to shape how consumers connect with brands.

What Jobs Can a Marketing Major Get?

So you’ve majored in marketing and now you want to know your career options. What does a marketing major do after graduating? And what professional goals can you set down the road, once you’ve had more experience?

Entry-Level Marketing Jobs

Depending on your specific interest in marketing, there are several paths you could take after graduation.

If you enjoy working with advertising, you could get work as a media buyer, who is in charge of purchasing ads, both digital and print, to achieve marketing goals. Median salary for a media buyer is $69,077.

If you enjoy dabbling in different aspects of marketing, you could be a marketing coordinator. You might be a part of planning and launching marketing campaigns and events, managing email marketing, and writing content for different platforms. The median annual salary is $55,463.

If you lit up in your public relations coursework, a public relations assistant might be a good first job. You’ll be tasked with creating press releases and pitch letters, and connecting with the media to get interviews and media coverage for your brand. Salaries vary, but the median is around $52,266 a year.

Recommended: 25 Highest Paying Jobs in the US

Marketing Jobs for More Experienced Professionals

Once you have a bit of experience in your entry-level marketing job, you may be eligible for a promotion or could qualify for a more advanced role with a different company like the following ones.

A public relations manager has approximately six to eight years of experience working in PR. In addition to building relationships with journalists and influencers and securing media coverage for a brand, this role may also hire and manage other PR roles as well as writers and designers. The median salary for this role is around $75,042.

A marketing director could be a good goal after you build experience as a marketing coordinator and have five to 10 years of marketing experience. This role is involved in the planning of marketing activities, building a budget, and forecasting sales. You may oversee a marketing team, including internal staff and freelancers. The median salary for this position is approximately $112,676, but can vary widely.

Another option once you have one to five years of experience, specifically in sales, is as a sales manager. This role analyzes sales data to shape sales and pricing strategy and may train or manage sales staff. The median salary for a sales manager is $138,060.

Launching Your Own Marketing Business

You’re not limited to working for someone else in your marketing career; many professionals get experience under their belt by working for companies of all sizes, then decide to open their own business. That could be a one-person content marketing business run out of your home or a PR firm with office space and staff.

Starting your own business gives you the flexibility of working when you want, and to choose exactly the marketing, advertising, or PR services you want to specialize in. It does, however, require plenty of hard work and dedication, and without the stability of a regular paycheck, you aren’t guaranteed to make a certain amount of money.

What Can a Marketing Major Earn?

Understandably, you want some reassurance that what you’ll make in your career after graduating will help you quickly pay off any student debt and help you become financially successful.

Generally, students can expect to make the least right after graduating, since they’ll have little to no work experience. Salary expectations for entry-level marketing positions can vary based on factors like where you live and the industry you want to work in. Some companies may offer hiring bonuses or commission on top of that salary.

As you build experience, your salary will generally increase. Again, this will depend on your specific experience and accomplishments as well as the industry and company you work for.


💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too. You can submit it as early as Oct. 1.

The Takeaway

Only you can determine whether marketing is a field where you’ll thrive and enjoy working. However, if you’re willing to put in the effort, the industry offers opportunities to learn a wide range of skills and advance your career.

Of course, as a student, you’re still a long way from earning a sizable salary, and coming up with enough funds to cover the high cost of college can be challenging. Fortunately, no matter what you’re thinking about majoring in, you have a range of funding options, including grants, scholarships, federal work-study programs, and both federal and private student loans.

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

FAQ

Can you be successful with a marketing degree?

Absolutely, a marketing degree can lead to successful careers in advertising, brand management, market research, and digital marketing, providing valuable skills in communication, analytics, and strategy.

Is a marketing degree difficult?

A marketing degree can be challenging, requiring strong skills in communication, analytics, and creativity. It involves rigorous coursework and practical projects, but it’s manageable with dedication and effort.

Will a marketing degree get you a job?

A marketing degree can significantly enhance your job prospects, opening doors to various roles in advertising, brand management, market research, and digital marketing. It provides valuable skills that are in high demand.

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.

SOISL-Q325-010

When you make the decision to continue your higher education beyond an undergraduate degree, you likely think about the payoff: Will the education, such as a Master’s degree in Business Administration (MBA), help you secure a well-paying job? Will you be able to quickly pay off your graduate loan?

If you’re wondering what you can do with an MBA, you’re not alone. While there are many different jobs for MBA graduates, the important thing is identifying which you’re interested in so you know you’ve got a promising career ahead of you on the other side of that MBA program.

Keep reading to learn more on what an MBA prepares you for and the best jobs for MBA graduates.

What an MBA Prepares You For

An MBA exposes you to many different aspects of business, from finance to marketing to economics, and can help you qualify for a wide range of business-related MBA careers. Because you aren’t focused in a single niche, you can apply the leadership, accounting, and communication skills you have learned in your MBA program to your future career, no matter what industry it’s in.

Some prestigious MBA programs (that also come with a hefty price tag) may have an alumni network that can help you find a good job right after graduation. But even if you’ve opted for a more affordable MBA program, the simple fact of you possessing an MBA may be appealing to employers and could help you command a higher salary than you could have earned with just an undergraduate degree.


💡 Quick Tip: Private student loans offer fixed or variable interest rates. So you can get a loan that fits your budget.

The Current Job Market

Despite recent layoffs in a variety of industries, particularly in technology, there are still many industries that are growing and even the ones doing the layoffs are still hiring MBAs.

Finding a great job, however, may require using your networks to your best advantage. Human resource experts also advise MBA grads to highlight skills that are especially marketable today, including training in artificial intelligence, project management, business analytics, and supply chain management.

Recommended: Is Getting A Degree In Marketing Worth It?

The Best Jobs for MBA Grads

This leads us back to that question: What jobs can I get with an MBA?

The good news is, no matter what the economic climate and your particular skill set, there are typically many jobs for MBA graduates.

Jobs in Finance

If you aced your finance, statistics, and accounting courses, your future may lie in finance. For someone with an MBA, you’ve got several possibilities.

A financial advisor provides financial planning and advice for clients, and may specialize in certain niches, like estate planning or high net worth clients. Financial advisors may continue to pursue additional certifications or licenses. The median salary for financial advisors is approximately $102,140.

A financial analyst is attuned to the stock market and may make forecasts about the behavior of stocks and bonds for clients. The median salary for a financial analyst is around $101,910.

If you enjoy managing a business’ finances, becoming an accountant may be a good fit. You may be in charge of accounts receivable and payable, as well as filing taxes for a business. The median salary for an accountant is around $81,680.

If you have a little technical skill, a budget analyst might be a good fit. You’ll prepare financial reports, evaluate budgets, and help the business manage its finances. Median salary for a budget analyst falls around $87,930.

Recommended: 9 Top Online MBA Programs

Jobs in Marketing

If numbers aren’t your thing, but you love the idea of promoting a brand and connecting with its customers, a career in marketing could be up your alley.

A marketing manager is involved in overseeing marketing campaigns for a company. You may be involved in the strategy and/or actual execution of tools like social media, content, and advertising. Median salary for marketing managers is around $159,660.

If you want to get more hands-on with digital marketing, consider applying to become a digital media strategist. This role taps into analytics and data to build marketing and ad campaigns to build relationships with customers. The average salary for a digital media strategist is approximately $70,897.

If you’re a born salesperson, being a sales manager may come naturally to you. They develop sales and promotions and oversee sales teams for a company. The median salary for sales managers is about $138,060.

Jobs in Management

If you’re highly organized and have leadership skills, a career in management might be a good fit, particularly if you also have technical skills.

Management consultants often work in technology fields and help companies solve problems or facilitate transitions. The average salary for management consultants is around $101,190.

Or you could become an operations manager, who is in charge of making sure a company runs smoothly. This role could be involved in finance, supply chain, hiring, and overall strategy, and the median salary is roughly $101,280.

HR managers are also involved in the company’s operations, though from the human resources perspective. This role recruits, interviews, and hires employees, as well as onboards them and trains them. The average HR manager salary is around $136,350.

If you like keeping projects running smoothly, you might make a great project manager. You’ll be involved in assigning tasks to team members, communicating with company leaders, and facilitating the success of a project. Average salaries fall around $100,750.

Another option is a product manager, who is involved in creating and marketing new products. The average salary for this role is $123,175.

Jobs in Technology

If your skill set lies in IT, there are several jobs to consider once you’ve graduated.

As IT manager, your role would be to manage and upkeep a business’ IT hardware and software, as well as build strategies and protocols for IT security. The median salary is around $171,200.

Business intelligence analysts assess business data and trends to find ways that a business can become more efficient and profitable. The average salary for a business intelligence analyst is around $100,709.

Recommended: Tips on How to Pay for MBA School

How to Stand Out from Other MBAs

Now that you have a sense of your career options post-graduation, the question is how to get hired.

Network

Start by networking. There likely are organizations in your community that cater to a general business audience, or even a specific niche, like IT professionals. Your university may have an organization to connect students with employers.

As you build relationships with people through these groups, you can put feelers out for potential jobs. Remember, networking isn’t about what you can get out of it but rather what you can give. So contribute what you can and connect people when appropriate, and the favor may be returned.

Update Social Profiles

Update your LinkedIn profile and other social media profiles to reflect your education as well as any internships or organizations you have been involved with. It’s also a great place to search for jobs and connect with people who work at companies you’re interested in.

Have Patience

Finding a job will take time, so start early and have patience. Have a few versions of your cover letter that you can modify, and customize the letter you send specific to the job and company you’re applying with.

Send Thank You Notes

If you make it to the interview phase, send a handwritten thank you note to the person who interviewed you. This is not only polite, but might help you stand out, since few people send physical mail anymore.

After all your hard work, you will likely be rewarded with a career that allows you to utilize the knowledge you gleaned in your MBA program, and ideally offers a competitive salary that can help you repay any MBA loans you took out to finance your education.


💡 Quick Tip: Would-be borrowers will want to understand the different types of student loans that are available: private student loans, Federal Direct Subsidized and Unsubsidized Loans, Direct PLUS Loans, and more.

The Takeaway

Getting your MBA can open doors for your career. MBA programs aim to teach students a broad range of skills that can help them thrive in a wide range of roles and industries, including tech, HR, marketing, and more.

MBA programs can be pricey. If federal aid, scholarships, and savings aren’t enough to fill the funding gap, private school loans could be one option to consider.

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

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

FAQ

Which job is best after an MBA?

The best job after an MBA depends on your interests and skills, but popular choices include management consultant, financial analyst, marketing manager, and business development manager. These roles often offer high salaries and growth opportunities.

Which MBA job has the highest salary?

MBA jobs with the highest salaries often include roles like investment banking analyst, management consultant, and corporate strategy manager. These positions can command six-figure salaries, especially in top-tier firms.

What are the highest-paying MBA specializations?

The highest-paying MBA specializations typically include finance, investment banking, management consulting, and technology management. These fields often offer starting salaries well over $100,000, with significant growth potential.

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.

SOISL-Q325-008

If you have a bank account, cashing a check is a simple process; you just deposit it and can then use the funds once it’s cleared.

However, about 4.5% of American households don’t have a bank account, according to a recent study from the Federal Deposit Insurance Corporation. They must therefore rely on alternative methods to cash a check. These workarounds can take a bit of time and energy, but can help you access cash if you are in this situation.

Here, you’ll learn about how you can cash a check if you don’t have a bank account or can’t use it for some reason. You’ll find out the pros and cons of each technique, as well as some important information about using checks and checking accounts.

7 Places Where You Can Cash a Check

There are several ways to cash a check if you don’t have a bank account. Some of these alternatives may come with fees or extra legwork. And some may have restrictions on the dollar amount they will cash. Here’s a closer look at the different ways you can cash a personal or business check without a bank account.

1. Cash the Check at the Issuing Bank

Look at the check to see which bank issued it and if there is a brick-and-mortar branch near you. Sometimes that bank will allow a non-customer to cash a personal check without a bank account if the payee comes in person. The teller can usually determine whether funds are available. The same often holds true for business checks.

•  Those that do provide this service often charge a flat fee (say, $8) or percentage of the check amount.

•  Some large banks will cash a check under a certain amount, $5,000 for example, without a fee.

•  Worth noting: If a bank does collect a fee, it may try to persuade the non-customer to open an account to avoid paying that charge.

2. Cash at a Retailer

Where else can you cash a check without a bank account? Several retailers such as Walmart and some grocery-store chains offer check-cashing services through their customer-service departments, usually for a flat fee based on the size of the check. For instance, at Walmart, there is a $4 fee for checks of up to $1,000 and a $8 fee for those over $1,000.

The amount charged and restrictions on the types of checks cashed will vary, however. For this reason, it’s important to check with each retailer in your area that offers this service to find one that works for your situation.

3. Payday Lending Store

Stand-alone check-cashing and payday-lending stores will cash many types of checks of varying amounts. However, the problem with payday loan check cashing services is that they are often the most expensive, charging a percentage of the check amount as well as a flat fee. For many people, this is best thought of as a last-chance option.


💡 Quick Tip: Fees can be a real drag when you’re trying to save money. SoFi’s high-yield checking account has no account fees, including overdraft coverage up to $50.

4. Prepaid Debit Cards

Some banks and financial institutions allow unbanked consumers to deposit checks directly to a prepaid debit card. Some big banks allow you to use their ATM system to deposit checks onto the card for a monthly service fee.

In other cases, using an app, you can use your smartphone to take pictures of your checks and deposit them into any type of account, including a prepaid card. This is often free, but you may have to wait up to 10 days before the funds from the check are available. In some cases, you can pay a relatively large fee, usually about 2% to 5% of the check value, for quicker access to the funds.

5. Employer-Sponsored Payroll Debit Card

Some large employers have programs that allow you to deposit your paycheck directly onto a reusable debit card. Be sure to look at the various types of fees associated with these cards. You may wind up paying overdraft, ATM, transfer, and inactivity fees in addition to general service fees.

6. Sign Your Check Over to Someone Else

Another option would be to sign a check over to a trusted friend or relative. This person could then deposit the check in their account and withdraw the funds, once available, and give them to you.

This is a simple process. Some verification is involved, and then you usually just need to write “Pay to the order of” and the name of the person on the back of the check and then sign it. However, it’s vital that this person can be relied upon to give you the cash once they deposit the check in their checking account and it clears.

7. Check Cashing Outlet

If you need to cash a check without a bank account, you could also visit a check cashing outlet. This can be expensive, though: Fees can be around 10% of the check’s value.

Here, consider the pros and cons of each in chart form:

What to Consider Before Cashing a Check

To help determine which check-cashing option is best for you, keep the following in mind.

Check Amount

In general, larger checks are harder and more expensive to cash without a bank account than smaller sums. Walmart, for instance, will usually only cash checks up to $5,000 or $7,500.

Check-cashing stores may have similar limits, or higher fees for larger checks. For large checks, depositing into a prepaid debit card may be the best option.

Fees

As we’ve seen above, almost every non-bank checking service entails fees when cashing your check. They can vary widely, with check-cashing and payday-lending stores usually being the most expensive.

It can pay to look for the least expensive alternative in your area, especially if you are able to access the bank that issued the check.

Identification Requirements

To show that the check rightfully belongs to you, you’ll need to show at least one form of government-issued identification, such as a license or passport. With large checks, you may be required to show two forms of ID.

Recommended: How to Write a Check to Yourself

Personal Checks

Personal checks can be more difficult to cash without a bank account than government-issued or payroll checks. Many check-cashing stores won’t accept any personal checks, and retailers may have lower limits on how much they’ll cash, usually a couple hundred dollars.

Here’s one workaround: Ask the person writing you the personal check to send a money order or cashier’s check instead.

Can You Cash a Check Without ID?

To cash a check without ID, you have a few options:

•  Check with the issuing bank and see if they will allow you to cash it without identification or with an alternative method of identification.

•  Sign the check over to someone else, have them cash it, and give you the funds.

•  If you have an account but no ID, deposit the check, wait for it to process, and then withdraw the funds.

•  Use ATM check cashing, if possible.

Recommended: How to Make Money From Home

How to Cash a Large Check Without a Bank Account

The methods for cashing a large check without a bank account are similar to methods for cashing any other check. You will likely want to be a bit more cautious and double-check the process in advance:

•  Sign the check over to a trusted friend or relative

•  Visit a check-cashing outlet.

Opening a Bank Account

Cashing a check without a bank account can often be costly and inconvenient. After exploring the options above, you may find that your best option for the long term involves opening a bank account. A bank account makes saving and spending easy, safe and flexible. Some points to consider when opening an account:

•  What do you need to open a checking account? You’ll usually need to make sure you qualify for an account, have an ID, and be willing to share basic personal information such as your birthdate, address, phone, social security number, etc. You’ll also need an initial deposit, which can often be as little as $25.

•  Keep in mind, most banks have a minimum age to open a bank account; they won’t allow those under 18 to have an account without a parent or guardian as the joint owner.

•  If you have a history of banking issues, such as unpaid overdraft fees, you may not qualify for a traditional checking account. Instead, you may want to consider what’s known as a second-chance account, offered by many lenders. These accounts often charge a monthly fee and come with more restrictions than a traditional checking account. That said, many allow solid customers the opportunity to convert to a regular checking account in six months to a year.

The Takeaway

It is possible to cash a check without a bank account. Options include signing the check over to a trusted friend to cash it and give you the funds, seeing if the issuing bank will cash it, using the check to buy prepaid debit cards, and other tactics.

That said, opening a bank account can be a simple process and can provide not just check cashing but the foundation for your daily financial life.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

Can I cash a $5000 check without a bank account?

You will likely be able to cash a $5000 check at a retailer, such as Walmart, or at a check cashing outlet. Inquire about fees, though, before proceeding to be sure you are prepared.

How can I cash a large check immediately?

To cash a large check immediately, try your bank if you have one or the bank that issued the check. You might also be able to cash it by signing it over to a friend or relative who can give you the cash once it clears, buying prepaid debit cards with it, or going to a check cashing outlet.

What bank will cash a check without an account?

It’s often best to go to the bank that issued the check and see if they will cash it. They will be able to verify that the funds are available and may be willing to give you the money.

Photo credit: iStock/AndreyPopov

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
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We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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.

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Students want to see one word when they get letters from their prospective colleges: accepted. Unfortunately, that likely isn’t going to be the result every time. Some students will end up on the college waitlist, but that doesn’t mean they won’t be accepted eventually.

Being waitlisted is not the same as being rejected. There’s still a possibility of getting accepted and attending that dream school.

Keep reading to learn more on what it means to be waitlisted for college and what to do if that happens.

What Does It Mean to Be Waitlisted?

Being waitlisted for college means you’re still up for consideration based on how many spaces are left after decision day. Getting accepted from the waitlist depends on how many accepted students choose to attend the school.

Decision day is May 1, when incoming freshmen are required to notify schools whether they will be attending or not. If not enough students accept their invites for schools to meet enrollment numbers, then students on the waitlist will be reevaluated and potentially accepted.

There’s no guarantee that accepting a spot on the waitlist will lead to being admitted, but that doesn’t mean you should give up. There are still things you can do to boost your chances.

Waitlisted or Deferred?

In some cases, a student may receive a letter saying they’ve been deferred rather than being put on the waitlist. So what’s the difference? A deferral usually involves students who applied for early action or early decision. These applications are generally turned in during November of senior year.

If a student applies via early action or decision and they receive a deferral, that means they have not yet been accepted but their application has been changed to regular decision. The application will be reviewed again during the regular decision time frame.

A deferral is different from a waitlist, but students who have been deferred generally want to take the same actions as those who have been waitlisted to better their chances of admission.


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

What to Do When You Get Waitlisted

Students who have been waitlisted but still want to attend the school must first do one thing: Accept their position on the waitlist.

If you neglect to contact the school and accept your position, you’ll be removed from the list and won’t be considered for admission if there are spots left after decision day.

Once you’ve accepted your spot on the waitlist, there are a few steps you can take that may better your chances of being accepted. Here’s a close look.

Contact Admissions

When you receive a letter informing you that you’ve been waitlisted, there might be some instructions included. First and foremost, it’s a good idea to follow them.

Next, it’s often recommended that students contact admissions with a letter to further stress their commitment to attending the school. The letter should detail why you want to attend that school and why you believe that school is the best fit for you. You might also want to ask that the letter be kept in your file along with your other application materials.

Request an Interview

Asking for an interview can be helpful in getting off the waitlist. Meeting with someone in person may make you more memorable when it comes time to accept applicants from the waitlist.

If you already did an interview, it’s okay to request another one after receiving a waitlist decision. A second interview provides the chance to reinforce your commitment to the school and add any recent accomplishments to the conversation. This can be a great time to bring up anything special you have achieved during the spring semester.

Reserve a Spot at Your Second Choice

Even though it can be discouraging, it’s highly recommended that students who’ve been waitlisted for their first-choice school put a deposit down for their next-best option. Putting a deposit down on another school isn’t giving up on your dream school; it’s just an important safety net to ensure you have somewhere to attend.

Some students may opt to take a gap year if they don’t make it into their school of choice. This choice is highly personal, though, and there isn’t a clear recommendation on how beneficial or harmful it is. Some students may find a gap year useful and productive, while others may find that it deters them from going back to school on time.

Anyone committed to attending college in the fall will likely find it a smart move to put a deposit down on their second- or even third-place school, and then continue working on getting accepted off the waitlist for their first choice.

Recommended: How Many Colleges Should I Apply To?

Retake Tests

Students who did not score well on the SAT or ACT may want to consider retaking those tests if they’ve been waitlisted. Before you do that, however, it’s a good idea to contact the college to make sure it’s willing to accept additional application information. If the school will accept it, and you think you can get better scores, it could be helpful to go ahead and retake the tests.

Most colleges will accept scores from either test, but it’s best to check with each school to be sure. Both tests have a similar goal — testing for college readiness — but they vary slightly in timing and types of questions asked.

If you need to improve your test scores but have limited time or money, it may help to research the difference between the two tests and take the one you feel you can perform better on. Taking practice tests can also help you determine which test suits you better. Many students do take both tests, so that is an option as well.

Recommended: Do Your SAT Scores Really Matter for College?

Don’t Give Up

Make the end of senior year impressive. Don’t let that waitlist cause discouragement. If you truly want to make it off the waitlist, you’ll want to work even harder at the end of your senior year. Senior grades can still affect admissions, so keeping them high may help those who are on the waitlist.

If you still don’t get accepted to your dream school, it doesn’t mean you have to give up. Even if you’re not accepted from the waitlist, there are still a couple of options. You can accept admission from a different school and aim to transfer to your dream school after one to two years. This allows time to earn good grades, get the necessary credits, then transfer.

If your plan is to transfer schools, however, you’ll want to work closely with your counselor to make sure you’re taking the correct courses and carefully consider your choice of major, since not all credits will transfer to all schools.


💡 Quick Tip: Would-be borrowers will want to understand the different types of student loans that are available: private student loans, Federal Direct Subsidized and Unsubsidized Loans, Direct PLUS Loans, and more.

Ready to Start. What’s Next?

Whether you make it off the waitlist and get into your dream school or choose to accept admission at your second choice, you’ll be faced with tuition. So how to cover the cost of college? Tuition, fees, books, food, plus all the other costs of living adds up quickly.

Luckily, there are resources available to help students finance their college education. The first step for most should be filling out the Free Application for Federal Student Aid (FAFSA®). The application will determine eligibility to receive federal aid. The eligibility for undergraduates to receive aid is most often based on their parents’ income. This process will inform students of how much federal aid they can receive, and what kind.

Federal aid can come in the form of grants, loans, and work-study. Grants don’t need to be repaid (unless you withdraw from school and owe a refund), but loans do. Federal loans come with some benefits that students won’t get with private student loans, including income-driven repayment plans and potentially lower interest rates.

Another option for funding the college experience is a private scholarship. There are a wide variety of scholarships available, with different eligibility requirements for each one. Some scholarships are need-based; some are merit-based.

If you can’t finance college completely with federal aid and scholarships, private student loans are also available. The eligibility for private student loans is usually based on the student’s (or cosigner’s) income and credit history. Rates and terms vary by lender, so it’s important for students to research their options before making a choice.

The Takeaway

If you find yourself waitlisted for college, it’s important to stay proactive and positive. Follow the steps outlined, such as submitting additional materials, staying in touch with the admissions office, and preparing for other options. While the wait can be stressful, remember that many students are admitted from the waitlist each year.

While you wait, you can also be proactive about finding ways to pay for college. This includes searching for scholarships and grants, applying for federal and private student loans, and possibly working a part-time job to save money.

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

FAQ

Do waitlisted students usually get accepted?

Waitlisted students have a varied chance of acceptance, often lower than initially admitted students. The likelihood depends on the college’s enrollment needs and the strength of the waitlist. Some schools accept a significant number of waitlisted students, while others accept very few. Stay proactive and explore other options.

Is a waitlist basically a rejection?

A waitlist is not a rejection but a deferred decision. It means the college is interested in you but needs to see how their admissions process plays out. While it’s uncertain, it’s not the end of the road. Stay engaged and keep your options open.

How long do college waitlists last?

College waitlists can last several weeks to months, often until the school has a clearer picture of its enrollment. Some colleges may notify waitlisted students by May, while others wait until the summer. It’s important to stay patient and keep in touch with the admissions office.

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).

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