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Sometimes life throws a few curveballs your way. When those curveballs include unexpected expenses (such as an emergency car repair or medical bills) or a job loss, it can be hard to keep your budget on track. This may lead to paying some bills late, or not at all, which only puts you further in the hole, thanks to interest and late fees. Your credit can also take a hit.

While you may not be able to get back in the black overnight, there are ways to regain control of your finances and work toward financial stability. Read on for straightforward strategies that can help you get caught up on bills, plus tips on how to avoid getting behind in the future.

6 Tips for Getting Caught Up on Bills

Falling behind on bills can feel overwhelming, but it’s a challenge that many people face at some point. The key is to face missed payments head-on and come up with a plan to gradually bring all of your accounts up to date. These tips can help.

1. Make a Master List of Bills

A good place to start is by organizing your bills and making a master list of everything you owe. This includes rent/mortgage, utilities, insurance, credit card payments, personal loans, and any other debts. Consider organizing them by due date, amount owed, and interest rates. Having a clear picture of your financial obligations helps you prioritize and plan your payments more effectively. This list will serve as a roadmap to ensure you don’t overlook any bills and can systematically address each one.

2. Reach Out to Your Creditors

Communication with your creditors is crucial when you’re struggling to keep up with payments. Companies and creditors may be willing to work with you if you explain your situation honestly. They may offer solutions such as extended payment deadlines, reduced interest rates, or temporary payment plans. And you don’t have to wait until your accounts are severely delinquent — reach out as soon as you know you’re having trouble. Proactive communication can prevent additional fees and negative marks on your credit report.

Recommended: How to Negotiate Medical Bills

3. Pay Priority Bills

All bills aren’t equally important, and when funds are limited, it’s essential to prioritize which bills to pay first. You might start with necessities that ensure your basic living conditions, such as housing, utilities, and food. These are critical to maintain your daily life and stability. Next, you may want to focus on any bills that have legal consequences if left unpaid, such as child support and taxes. Secured debts, such as car loans, should also be a priority to avoid repossession. Once these essentials are covered, you can move on to other debts.

4. Pay Bills with the Highest Interest Rates

High-interest debt can quickly spiral out of control, making it harder to catch up. After prioritizing essential bills, consider paying down debts in order of interest rate, from highest to lowest. This repayment strategy, known as the avalanche method, can save you money in the long run by reducing the amount of interest you’ll pay over time. Consider making larger payments toward these debts while maintaining minimum payments on lower-interest obligations.

5. Cut Unnecessary Expenses

To free up more money for paying bills, take a close look at all of your monthly expenses and identify areas where you can cut back. Dining out, subscription services, gym memberships, and entertainment are examples of expenses you may be able to cut until your finances are in better shape. Creating a bare-bones budget can help you focus on what’s necessary until you’re caught up. Redirect the money saved from cutting expenses toward paying down your debts. Even small savings can add up and make a significant difference over time.

6. Boost Your Income

Increasing your income can provide a much-needed boost to catch up on bills and put more padding in your checking account. Consider taking on a part-time job, freelancing, or selling items you no longer need. If you have any special skills or hobbies, you might look into starting a side business. Or you might explore opportunities to work extra hours or seek a raise at your current job. While increasing your income may require additional effort and time, the extra money can help you get back on track faster.

How to Avoid Falling Behind After You’re Caught Up

Once you’ve managed to catch up on your bills, it’s important to implement strategies to avoid falling behind again. Here are some ways to help you stay on track.

Create a Budget

A well-structured budget is the cornerstone of good financial management. Now that things are more stable, you might want to take a closer look at what’s coming and going out each month to ensure that your spending aligns with your priorities. One straightforward budgeting framework to consider is the 50/30/20 rule. This suggests dividing your after-tax income into three main categories, with 50% going to “needs,” 30% going to “wants,” and 20% going to savings and debt payments beyond minimums.

Enroll in Autopay

Automating your bill payments is a basic way to avoid missing payments and getting hit with late fees. Consider setting up autopay for your recurring bills, such as rent, utilities, and credit card payments. To make sure you don’t accidentally overdraft your account, put reminders on your calendar, or set up alerts on your phone before each bill is due. That way, you can make sure you have sufficient funds in your account to cover these automated payments.

Build an Emergency Fund

An emergency fund acts as a financial safety net, allowing you to cover unexpected expenses without disrupting your regular budget. Aim to save at least three to six months’ worth of living expenses in a separate, easily accessible account, such as a high-yield savings account. Start small if necessary, and gradually build up your fund over time. Having an emergency fund can prevent you from relying on credit cards or loans if you get hit with an unexpected expense or loss of income and help you maintain your financial stability.

The Takeaway

Catching up on bills when you’re behind can be challenging. Fortunately, by assessing your situation and coming up with a strategic pay-off plan, it’s possible to get back on track. Staying proactive and disciplined can help you avoid falling behind again and allow you to work toward long-term financial stability and growth.

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

What to do when you can’t catch up on bills?

Consider making a list of all your outstanding bills, then prioritizing the ones that are for necessities (housing, for instance) and those with the highest interest rates. To free up funds to pay off your bills, you may need to temporarily cut or reduce unnecessary expenses, such as dining out, streaming services, and entertainment. It’s also a good idea to reach out to your creditors and explain your situation — they may be willing to work with you by offering a more manageable payment plan and crediting late fees.

What bills should I prioritize?

If you’re behind on bills, you’ll want to prioritize any bills relating to necessities, such as housing and utilities. Next, you might focus on obligations that, if neglected, could have legal consequences (such as past-due taxes or child support), followed by secured debts (such as an auto loan or mortgage) to avoid repossession. After that, you might prioritize high-interest debts (such as credit cards), since the longer it takes to pay them off, the more expensive they get.

Why is it so hard to catch up on bills?

Catching up on bills can be challenging due to high-interest rates that make debts grow quickly. Having a limited income, getting hit with unexpected expenses, and adopting poor financial habits (such as a lack of budgeting or overspending) can also make it difficult to catch up once you fall behind.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2026 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 3/31/26. 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.
*Awards or rankings from Forbes are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOBNK-Q126-126

Paying someone no longer requires handing over cash or writing a check. From mobile payment apps to direct bank transfers, there are now multiple secure ways to deposit money into another person’s bank account. Whether you’re reimbursing a friend, supporting a family member, or paying a contractor, choosing the right transfer method can save you time, reduce fees, and help ensure your money arrives safely.

What Details Do You Need to Send Money?

Before you can deposit money into someone else’s bank account, you’ll need specific information about the recipient. The exact details vary by method, but transfers generally require one or more of the following:

•   Recipient’s name as it appears on the their bank account

•   Bank account number, usually a checking account

•   The bank’s routing number

•   An email address or phone number for app-based payments

For digital payment apps, the recipient’s email or phone number is often enough. For bank-based transfers, you’ll need both the account and routing numbers.

Top Methods to Send Money Directly

Below are seven common and dependable ways to deposit money into someone’s bank account, each varying in speed, cost, and convenience.

1. P2P Apps (Venmo, Cash App

Peer-to-peer (P2P) payment apps and services are one of the most popular ways to send money directly from one individual to another. These apps allow you to transfer funds (often within minutes) using a phone number, email address, or username, making them ideal for everyday payments.

P2P apps link directly to your bank account or debit card. To send money, you simply enter their email or phone number, choose the amount, and authorize the transfer. The recipient typically needs to have an account with the same payment service.

P2P apps are generally free to use when linked to a bank account or debit card. However, sending money with a credit card often comes with a fee of around 1-3%.

With apps like Venmo or Cash App, the money generally stays in the app balance until the recipient transfers it to their bank account. Standard bank transfers are often free but may take one to three business days; instant transfers typically incur a small fee.

P2P apps can be ideal for quick, casual transfers, such as splitting bills, reimbursing friends, or paying for small services (like babysitters or lawn care).

2. Third-Party Money Transfer Services (PayPal, Wise)

While money transfer services like PayPal and Wise also facilitate P2P payments, they offer a broader array of services, including cross-border transactions, high-volume transfers, and business payments.

For example, PayPal offers personal money transfers, e-commerce purchases, and international transfers, with high limits (generally up to $60,000 per transaction). You can send money for free using a linked bank account or PayPal balance; using a credit or debit card incurs a 2.9% transaction fee plus a $0.30 flat fee.

Wise, on the other hand, specializes in fast, low-cost international money transfers. You can pay for an international transfer using your bank account, a debit card, or a credit card. Your recipient doesn’t need to have a Wise account, though you will need their local bank details. You can see the transfer fees and exchange rate before you initiate a transfer.

3. Third-Party Banking App (Zelle®)

Zelle® offers a fast and easy way to send money directly into someone else’s bank account, often within minutes. Both the sender and recipient must be enrolled in Zelle® through a participating U.S. bank. Unlike many other money transfer services, Zelle® is integrated directly into the mobile apps and online banking platforms of numerous banks and credit unions.

Recommended: Zelle® Transaction Limits

4. External Bank Transfers (ACH)

ACH payments transfer money electronically between bank accounts through the Automated Clearing House (ACH) network — the same system used for payroll direct deposits and automated bill payments.

You can initiate an ACH transfer though your online banking portal or mobile banking app. To do so, you’ll need the recipient’s bank account and routing number. Many banks allow you to save the recipient’s bank information, making future transfers easier. ACH transfers typically take one to three business days to complete.

While slower than P2P apps, ACH transfers can work well for planned or recurring payments, such as gym membership payments, rent, or a child’s monthly allowance. ACH transfers also tend to allow higher transfer limits than P2P apps, making them suitable for larger payments.

Recommended: How to Set Up Direct Deposit

5. Cash Deposit at a Local Branch

In some cases, you can deposit cash directly into someone else’s account by visiting a branch of their bank. You’ll usually need the recipient’s full name and account number, and you may be asked to show identification.

Bank policies vary, and some institutions restrict or prohibit third-party cash deposits due to concerns about money laundering and fraud. It’s best to contact the bank ahead of time to confirm whether this option is allowed.

6. Money Orders

A money order is a prepaid paper document that guarantees payment of a specific amount. Unlike personal checks, money orders cannot bounce due to insufficient funds.

You can purchase a money order at banks, credit unions, post offices, and some retail stores using cash or a debit card. You’ll pay the full amount up front, plus a small fee (typically $10 to $15) and receive a receipt with a tracking number. Depending on the issuer, you may be limited to a maximum money order amount of $500 or $1,000.

The money order can be made payable to the recipient, who can then deposit it into their bank account. In some cases, you may also be able to deposit it directly at their bank.

Money orders are secure and traceable but slower than electronic payments due to the time involved in purchasing and (if applicable) mailing them. They can be useful when digital payments aren’t an option or when personal checks aren’t accepted.

7. Personal Checks

Personal checks remain a common option for non-urgent payments. The recipient can deposit the check via instant mobile check deposit, ATM, or in person at a bank branch. You may also be able to deposit a check into someone else’s account at a branch if you have their account number.

Once deposited, checks typically take one or two business days to clear, though large amounts may face holds of up to seven business days.

Checks can work well when both parties are comfortable with the arrangement and speed isn’t critical. They can also be useful when you want a paper trail for record-keeping or tax purposes.

8. Wire Transfers (Best for Large or Urgent Payments)

Wire transfers allow you to send money directly from one bank to another, either domestically or internationally. Domestic wire transfers often arrive the same day, while international wires may take several business days.

Wire transfers are available through banks, credit unions, and providers such as Western Union. To send one, you’ll need detailed recipient information, including their full name, bank name, account number, and routing number (or SWIFT/BIC code for international transfers). Fees run around $20-$35 for domestic wires and $25-$50 for international transfers.

Because of their speed and high transfer limits, wire transfers are generally best for large or time-sensitive transactions, such as real estate purchases, business payments, or emergency transfers. They are also commonly used for international money transfers.

9. Cashier’s Checks

A cashier’s check is issued by a bank and drawn from the bank’s own funds rather than your personal account. Because the bank guarantees payment, cashier’s checks are considered highly secure.

To obtain one, you’ll need to visit your bank with the recipient’s name, payment amount, and valid identification. The bank withdraws the funds from your account and issues the check, usually for a fee of around $10.

The recipient can deposit the cashier’s check into their bank account, with funds often available by the next business day. This method is commonly used for large purchases or formal transactions that require guaranteed funds.

Which Method is Best? Speed vs Cost

The best way to deposit money into someone else’s account depends on your priorities. If speed matters most, P2P apps and wire transfers are usually the fastest. If minimizing fees is the goal, ACH transfers, P2P apps, and personal checks are often the most affordable.

For large or high-stake transactions, wire transfers and cashier’s checks provide high limits, along with added security.

Safety Tips: Avoiding Scams When Sending Money

While digital payments are convenient, they also carry risks. Scammers often exploit fast and irreversible payment methods. To protect yourself:

•   Verify the recipient’s identity: Be suspicious of unexpected calls, texts, or emails asking for money, even from friends or family. Call the person directly using a number you already have — not from the message — to confirm requests.

•   Watch for urgency: Scammers frequently create high-pressure situations (such as fake emergencies or “act now” deals) to make you panic and send money before you can think through or verify the request.

•   Avoid unusual payment requests: Be cautious if someone insists on a wire transfer, gift cards, or cryptocurrency. Legitimate businesses and government agencies will never ask for payment this way.

The Takeaway

Depositing money into someone else’s account can be simple, secure, and efficient when you choose the right method. From instant app-based transfers to traditional checks and wire payments, each option serves a different purpose. By understanding how these methods work — and when to use them — you can send money confidently while minimizing risk, delays, and unnecessary fees.

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

Do names need to match for bank transfers?

Generally, no, the names on the sending and receiving accounts do not need to match for bank transfers. You can transfer money from your bank account to someone else’s using methods like bank-to-bank (ACH) transfers or wire transfers. You’ll need to provide details about the recipient, such as their full name, account number, and routing number. To transfer funds using a payment app, you typically only need to provide the recipient’s email or phone number.

Can you make an anonymous deposit into someone else’s account?

An anonymous deposit is usually not possible when depositing money into someone else’s account. Banks and financial institutions have strict regulations, such as the Bank Secrecy Act (BSA), requiring them to verify the identity of the person making the deposit to prevent money laundering and fraud.

For bank-to-bank transfers (ACH) or wire transfers, the recipient will see the name associated with the sending account. For cash deposits at a branch, the bank will often require your ID and record your name on the transaction receipt. P2P apps also use your registered name or username.

Can you deposit money into someone else’s account at an ATM?

It is typically not possible to deposit money into someone else’s account at an ATM. ATMs are generally set up to accept deposits only into the account associated with the ATM/debit card being used. To deposit funds into another person’s account, you’ll usually need to use a different method, such as an online bank-to-bank transfer or a payment app. You may be able to deposit cash or a check (if the recipient endorses it properly) in person at a teller window, but policies vary.

What is the difference between a wire transfer and a direct deposit?

The primary differences between a wire transfer and a direct deposit are the network used, the typical use case, cost, speed, and geographical reach. Wire transfers are generally preferred for urgent, one-time, high-value, or international payments, while direct deposits are ideal for recurring, low-cost, domestic transactions like payroll.

Is it safe to give someone my bank account number for a deposit?

It is generally only safe to share your bank account number for a deposit if you trust the person or organization and use a secure, encrypted channel. While a routing and account number alone rarely allows unauthorized withdrawals, they can be used for fraud if combined with other personal details. More broadly, it’s important to only transfer money to individuals or businesses you know and trust to help avoid online scammers.

Photo credit: iStock/AlexSecret

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2026 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 3/31/26. 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.
*Awards or rankings from Forbes are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

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.

We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

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.

Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

SOBNK-Q126-012

Certified registered nurse anesthetists (CRNAs) are registered nurses (RNs) with graduate-level education who provide anesthetics to patients in surgical and other procedures.

Currently, nurse anesthetists must have an RN license and a master’s degree from a nurse anesthesia educational program accredited by the Council on Accreditation of Nurse Anesthesia Educational Programs (COA) or a Master of Science in Nursing (MSN). Nurse anesthesia programs typically range in length 36 to 51 months. Starting in 2025, all CRNAs must have a Doctor in Nurse Anesthesia Practice (DNAP) or a Doctor of Nursing Practice (DNP), according to the COA. It typically takes two years for a student with an MSN to earn a doctorate.

Continue reading for six tips that can help you learn how to pay for CRNA school.

How Much Does CRNA School Cost?

You may have already spent a few years paying for nursing school to get your RN degree, but how much does it cost to further your education to become a nurse anesthetist?

The total cost of CRNA school (including tuition, clinical fees, and other expenses) can vary widely, depending on whether you choose to attend an out-of-state institution, a private college, or an in-state university.

For example, the 2026-2027 tuition and fees at Loma Linda University in Loma Linda, California, are an estimated $170,243. In contrast, if you are already an RN with an MSN, the tuition and fees are approximately $45,030 at Arkansas State University. There are additional costs associated with a CRNA degree, such as books, supplies, licensing, insurance, and exam fees.

Note that the average nursing school cost can vary widely, ranging from $10,000 for an associate degree to over $200,000 for an advanced degree.

Recommended: Important FAFSA Deadlines to Know

6 Tips to Help You Pay for CRNA School

Let’s look at nine tips you can use to pay for CRNA school, from choosing a less expensive school to answering the question, “Will financial aid pay for CRNA school?”

1. Choose a Less Expensive School

You can save money by choosing a less expensive school or by having residency in the state where you want to attend school. For example, the total cost of attending Georgetown University’s DNAP program for the first year is $150,426, $92,561 for the second year, and $78,784 for the third year, regardless of residency.

The cost to attend the University of Iowa is $85,690 if you’re an in-state resident or $163,805 if you’re an out-of-state resident.

It’s important to compare and contrast the costs of several programs before you decide which school will both meet your needs and help you save money.

2. Save Money

You may also want to consider saving money for college to reduce the amount of money you’ll have to borrow for CRNA education. Knowing the costs of the schools on your shortlist can help you set aside a certain amount of money. However, remember that you may receive scholarships and grants that you don’t have to pay back. You might not need to save for the full cost of a nurse anesthetist program. One way to understand your exact costs is to meet with the financial aid offices of the schools you’re considering. They can give you an idea of the type of institutional financial aid you could qualify for.

There are a wide variety of ways to save, including through a general savings account, certificate of deposit, or a 529 plan — a state tax-advantaged plan that will allow you to withdraw funds tax-free to cover nearly any type of college expense. 529 plans may also have additional state or federal tax benefits.

3. FAFSA and Financial Aid

The FAFSA is a form you can complete to determine your eligibility for student financial aid, which can include scholarships, grants and federal student loans.

College grants are “free money” that you typically don’t have to pay back. The AANA offers members grants to develop health care policy, anesthesia science, education, clinical practice, and leadership opportunities. With the proper documentation, the Foundation will reimburse up to 15% of indirect costs. The best way to learn more is to ask questions through the financial aid offices of the schools you’re considering.

Like grants, you do not have to pay back scholarships and other aid awards. The AANA also offers scholarships. Students who are AANA members and currently enrolled in an accredited nurse anesthesia program may be eligible for scholarships as long as they are in good standing in their program, meet the application requirements, and apply online. In addition, the university you plan to attend may also offer merit-based scholarships. Contact your school’s financial aid office to see what they offer and how to apply.

Similar to student loans for undergrads, you can get student loans for graduate school, which must be repaid. As a graduate student, you may be eligible for federal Direct Unsubsidized loans that come from the U.S. Education Department. The benefits of federal loans include a six-month grace period before repayment and flexible repayment plans if you’re eligible for Public Service Loan Forgiveness. This means that if you make 120 monthly payments under such a repayment plan, you might get your loans forgiven as long as you work full-time for a qualifying employer.

Note that Direct PLUS loans, also called Graduate PLUS loans, will no longer be available to grad students beginning July 1, 2026.

Learn more about the FAFSA with SoFi’s comprehensive FAFSA guide.

4. Work More

If you’re already working as a nurse, you may want to pick up more hours before you start your CRNA degree. Nurse anesthesia programs are labor-intensive, so most students find it difficult to work while attending CRNA school. However, you can save up as much as possible before starting school.

If you must work during your degree, you may want to limit your hours.

5. Get an Employer to Pay for Your Education

Will a hospital pay you to go to CRNA school? Hospitals and groups often offer tuition reimbursement to offset loan debt. However, you may have to sign a tuition reimbursement payback agreement, which means you may have to pay back your reimbursement if you leave the company within a specific period of time.

Ask your human resources office and read the fine print if your hospital has an agreement requiring you to repay tuition if you are laid off or fired.

6. Private Student Loans

Private student loans originate with a bank, credit union, or online lender, unlike government-offered federal student loans. Private student loans can fill in the gaps between tuition and your savings, grants, scholarships, and federal student loans.

It’s a good idea to explore the interest rates, fees, repayment terms, discharge, and repayment options among private student loan lenders.

The application process involves submitting your personal information, the school you plan to attend, your graduation date, and the loan amount you need. You must also agree to the lender’s terms and conditions.

It’s important to note that private student loans don’t offer the same borrower protections, such as income-driven repayment plans, as federal student loans, so they are typically considered an option only after you have thoroughly reviewed all other financing opportunities.

Recommended: Guide to Nursing Student Loans

How Much Can CRNAs Expect to Make?

Nurse anesthetists can expect to earn an average salary of $231,700, or $111.39 per hour. The job outlook for CRNAs will grow about 35% from 2022 to 2034 according to the Bureau of Labor Statistics.

The Takeaway

There are many ways to make your dreams of becoming a CRNA a reality. Everyone should file the FAFSA to qualify for federal loans, grants, and other types of funds. The AANA also offers scholarships that you may qualify for. Don’t forget to check with your employer and local businesses for other funds.

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 get paid for going to CRNA school?

You typically cannot get paid to attend Certified Registered Nurse Anesthetist (CRNA) school, but universities often offer a wide variety of merit-based and need-based financial aid options. You may need to file the Free Application for Federal Student Aid (FAFSA) to qualify for certain types of aid. Check with the financial aid offices at the universities you’re considering for more information about your financial aid options.

How much does CRNA school cost?

The cost of Certified Registered Nurse Anesthetist (CRNA) school depends on a wide range of factors, including whether you plan to attend an in-state or out-of-state institution or a private or public school. For example, the three-year program at Georgetown University, a private institution, costs $321,771. On the other hand, the three-year program at the University of Iowa for an in-state resident costs $85,690 or $163,805 for an out-of-state resident.

How much do CRNAs typically make?

As a nurse anesthetist, you can expect to make a median salary of $231,700 per year. That’s the equivalent of $111.39 per hour.

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.

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A career in medicine can be rewarding, but the high cost of medical school means many students take on additional student debt on top of their existing undergraduate student loans.

Some students defer student loan payments while they’re in medical school, and others choose to refinance their student debt. The right choice for you depends on a number of factors, such as whether you have federal or private student loans. Here’s what to know about refinancing student loans during medical school.

What You Can Expect to Pay

Going to medical school is expensive: The average cost of medical school for 2025 graduates was $255,497 for four years at a private institution and $161,222 at a public institution, according to the Education Data Initiative.

Many students need loans to cover the high cost of medical school tuition and other educational expenses. In fact, 70% of medical school students graduating in 2025 used loans specifically to help pay for medical school (separate from any undergraduate debt). The average medical school graduate owes $246,659 in total student loan debt, which includes undergraduate debt.

If you don’t have the option of in-school deferment for your undergraduate loans while you’re enrolled in medical school, refinancing those loans might be worthwhile and could help lower your loan payments while you’re in medical school. Here’s what you need to know to decide whether refinancing loans as a medical student is right for you.

Can You Refinance Student Loans During Medical School?

Whether you have federal or private student debt, you can technically refinance your student loans at any time along your journey toward becoming a physician.

Through refinancing, you can combine multiple student loans of any type — federal or private — into one new refinanced loan. This new loan is from a private lender and comes with its own interest rate and loan term.

The lender will repay the original loans you included in the refinancing process. You’ll then repay the lender, based on the details of your refinance loan agreement, in incremental monthly payments.

Another Option for Federal Student Loans During Medical School

It’s important to know that if you have federal student loans, refinancing them will remove you from the federal student loan program.

Keeping your federal student loans within the Department of Education’s loan system gives you access to benefits and protections that can be useful while you’re in medical school, such as extended deferment or forbearance.

Generally, student loan deferment is applied automatically to federal Direct Loans of borrowers who are enrolled at least half-time at an eligible school. If your federal student loans from your undergrad program weren’t placed on in-school deferment, reach out to your school and ask them to report your enrollment status.

This student loan refinancing alternative can postpone your monthly payment requirement until after you leave school. However, if you borrowed through Direct Unsubsidized Loans or Direct PLUS Loans, you’re responsible for repaying interest that accrues during this time.

Pros of Refinancing During Medical School

A student loan refinance during medical school can offer benefits.

You Could Extend Your Loan Term.

Generally, once you’ve signed your student loan agreement, you’ve committed to a specific repayment term. For example, if your private student loan has a 5-year term, you’ll need to repay the loan’s balance, plus interest, in that time period.

However, repaying your loan balance while attending medical school might be difficult. With student loan refinancing, you can choose to stretch your repayment timeline over a longer term, such as 10 or 15 years.

You Could Secure Lower Monthly Payments.

When you extend your student loan refinance term, your monthly installment payments will often become smaller, since they’re stretched over a longer period. Prolonging your loan term can result in paying more interest over the life of the loan, but the likelihood of a lower monthly payment means you could have more funds in your budget to meet the day-to-day costs of medical school.

Some Refinancing Lenders Offer Deferment.

Some refinancing lenders offer borrowers the option to defer their student loan refinance payments while in medical school. Generally, you’ll need to meet the lender’s minimum enrollment status and possibly other requirements.

This benefit, however, isn’t offered by all lenders, so always confirm with the lender before finalizing any student loan refinance offer.

Recommended: A Guide to Refinancing Student Loans

Cons of Refinancing During Medical School

Although there are benefits to refinancing your student loans, there are downsides to this repayment strategy as well.

You Could Pay More Interest Over Time.

Extending your loan term can cause you to pay more interest over the life of the loan, assuming you don’t make extra monthly payments. This means that you’ll ultimately pay more overall for your undergraduate degree.

You’ll Lose Access to Loan Forgiveness.

If you refinance federal student loans, you’ll lose access to federal benefits and protections. Physicians who expect to work in the government or nonprofit sector might be eligible for loan forgiveness under the Public Service Loan Forgiveness (PSLF) program.

To be eligible for forgiveness, you must have eligible Direct Loans and have made 120 qualifying payments toward your federal loan debt while working for a qualifying employer. After you meet PSLF requirements, the program forgives the remainder of your eligible federal loan balance.

You’ll lose access to this significant benefit if you refinance federal loans into a private loan.

Should You Refinance Your Student Loans?

Student loan refinancing is a strategy that can be advantageous for certain borrowers in specific circumstances. For instance, it might be a good option for borrowers who already have a private undergraduate loan and simply want to lower their interest rate to save money.

The option to extend your term can also make refinancing a helpful strategy if your main goal is to lower your monthly undergraduate loan payments. Borrowers who have adequate savings, have a reliable income while in medical school, and are confident that they won’t participate in programs such as PSLF might benefit most.

Assess your current financial situation, and talk to your loan servicer or undergraduate loan lender to get a full understanding of your repayment options during medical school.

Refinancing Student Loans With SoFi

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.

FAQ

Can you refinance student loans during residency?

Yes, you can refinance student loans while in residency. However, if you refinance federal loans, that portion of your student debt will become ineligible for federal loan forgiveness in the future.

Do doctors ever pay off their student loans?

Yes, many doctors pay off their student loans, though how they do so can vary. Some start making small payments during residency or apply for an income-driven repayment plan, while others may refinance or pursue loan forgiveness programs.

When should I refinance my medical student loans?

You can explore private student loan refinancing at any time, especially if your income is stable and your credit has improved since you first took out the loan. If you have federal student loan debt, consider whether you’ll pursue loan forgiveness at any point along your career journey. If you might, you’ll need to keep your student loans within the federal loan program to be eligible for forgiveness.

Photo credit: iStock/Edwin Tan

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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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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.