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Filling out the Free Application for Federal Student Aid (FAFSA®) is one of the most important steps in paying for college. Completing the form accurately and on time can unlock access to federal grants, work-study opportunities, and student loans. Many states and individual colleges also rely on FAFSA information to determine eligibility for their own need-based and merit-based scholarships and grants.

Although recent updates have significantly simplified the FAFSA, the process can still feel intimidating — especially for first-time applicants and their families. This guide walks you through what you need to know, from gathering the right documents before you begin to what to expect when completing the application online.

Completing the FAFSA for the 2026-2027 Academic Year

The FAFSA for the 2026-2027 school year determines financial aid eligibility for students attending college between July 1, 2026 and June 30, 2027. The application typically opens in the fall of the prior year, allowing students and their families ample time to prepare and submit their information.

However, because some types of financial aid are awarded on a first-come, first-served basis, it’s strongly recommended to complete the FAFSA as early as possible. Submitting early can increase your chances of receiving the maximum amount of aid you may qualify for and make it easier to pay for college.

💡 Quick Tip: Fund your education with a competitive-rate, no-fees-required SoFi private student loan that covers up to 100% of school-certified costs.

Documents You’ll Need to Fill Out the FAFSA

Before starting the online FAFSA form, it’s helpful to gather all required documents in advance. Having this information ready can make the process smoother, faster, and less stressful while reducing the likelihood of errors or delays.

Information and documents you may need to complete the FAFSA include:

•  Your Social Security Number

•  Your Alien Registration Number (A-Number), if you’re not a U.S. citizen

•  Federal income tax returns

•  Records of child support received

•  Current balances of cash, savings, and checking accounts

•  Bank statements and records of investments (if applicable)

•  Records of net worth of investments, businesses, and farms

•  Records of untaxed income (if applicable)

If you’re classified as a dependent student, your parents will also need most of the same information for their portion of the FAFSA.

9 Steps to Filling Out the FAFSA

Below are the key steps to completing the FAFSA online for the 2026-2027 school year.

1. Create a StudentAid.gov Account

Before you can begin the FAFSA, both you and your parent(s), if required, must create a StudentAid.gov account. This account provides a username and password that allows you to securely log in, complete the FAFSA electronically, and sign the form digitally.

2. Start a New FAFSA Form

To begin, navigate to the FAFSA application page and select “Start New Form.” You’ll be prompted to log in using your StudentAid.gov account credentials. After logging in, you’ll select “Student” to indicate that you are completing the form as the student applicant.

3. Enter Your Personal Information

You’ll be asked to provide basic personal details, including your full name, date of birth, Social Security number, and contact information. It’s important to double-check all entries for accuracy, as errors in this section can cause processing delays or issues matching your information with official records.

4. Provide Personal Circumstances

This section is designed to determine if you’re a dependent or independent student for financial aid purposes. If you’re classified as a dependent student, you’ll need to include both your financial information and your parent’s information.

Being a dependent student does not mean your parents are required to pay for your education, but it does affect how your financial aid eligibility is calculated.

5. Complete the Financial Information Section

To be eligible for federal student aid, you must provide consent for the FAFSA to import your tax information directly from the Internal Revenue Service (IRS) using the IRS Direct Data Exchange. For the 2026–2027 FAFSA, the form uses 2024 federal tax information. Once consent is given, relevant tax data will automatically populate your application, helping to save time and reduce errors and omissions.

You’ll also need to report information about your financial assets, such as cash in bank accounts and any investments you own. If you are married, your spouse’s financial information may also be required. Do not include your parents’ assets in this section — they will provide their information separately in their portion of the FAFSA.

6. Provide List of Colleges

You can list multiple colleges on your FAFSA, and each school you include will receive your financial information to determine your financial aid package. Even if you haven’t finalized your college decision, it’s wise to include all schools you’re seriously considering.

You can add or remove schools later if your plans change. Importantly, colleges cannot see which other schools you’ve listed on your FAFSA.

Recommended: College Search Tool

7. Invite Parent Contributors (If Required)

If you are a dependent student, you’ll need to invite your parent(s) to complete their portion of the FAFSA. This is done by providing their email address, which triggers an invitation allowing them to access the form.

If your parents are married and file a joint tax return, only one parent needs to fill out the FAFSA. If they are married but filed separately, both parents are contributors. If your parents are divorced or separated and do not live together, the parent who provided more financial support during the past 12 months is the required contributor.

8. Review and Submit your FAFSA

Before submitting, carefully review all responses to ensure everything is accurate and complete. You’ll then acknowledge the terms and conditions, provide your electronic signature, and submit your section of the form.

If a parent or another contributor is required, the FAFSA will not be processed until all contributors have completed and signed their respective sections. Once all signatures are submitted, your FAFSA is considered complete.

9. Review Your Submission Summary

One to three days after submitting your completed FAFSA, you’ll receive a FAFSA Submission Summary. This document summarizes your responses and provides a basic estimate of your eligibility for federal student aid. It also includes your Student Aid Index (SAI), which colleges use to determine your eligibility for Federal Pell Grants and other federal, state, and institutional aid programs.

💡 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.

What’s Different About the 2026-27 FAFSA

The U.S. Education Department launched the new “Better FAFSA” form, mandated by the FAFSA Simplification Act, beginning with the 2024-2025 aid year. The 2026–2027 FAFSA continues these updates, including:

•  Fewer questions: The FAFSA has been reduced from over 100 questions to approximately 36.

•  Direct data exchange: Applicants must consent to the IRS Direct Data Exchange, which automatically imports federal tax information to reduce errors.

•  Student Aid Index (SAI): The former Expected Family Contribution (EFC) has been replaced by the SAI, which can range as low as -1,500 to better identify students with the greatest financial need.

•  Expanded school list: Students can now list up to 20 colleges on the online FAFSA, doubling the previous limit.

•  FAFSA Submission Summary: Instead of a Student Aid Report (SAR), you receive a FAFSA Submission Summary after filing the FAFSA form.

The Takeaway

Completing the FAFSA is a critical step in securing financial aid for college. While the “Better FAFSA” updates have made the application more streamlined — with fewer questions and direct IRS data exchange — it still requires careful attention to detail. By following these nine steps, from creating your StudentAid.gov account and gathering required documents to inviting parent contributors and reviewing your submission, you can navigate the process with confidence.

Submitting your FAFSA as early as possible is strongly recommended, as some aid is awarded on a first-come, first-served basis. Your resulting Student Aid Index (SAI) will play a key role in determining your eligibility for grants, loans, and scholarships that can make college more affordable.

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

What is the #1 most common FAFSA mistake?

One of the most common FAFSA® mistakes is failing to submit the form early enough. While the federal deadline for the FAFSA is generally late, state and college-specific deadlines are often much earlier, and some aid is awarded on a first-come, first-served basis. Submitting the FAFSA as close to its opening date as possible (typically October 1st of the prior year) maximizes your chances of receiving the most aid.

Are parents or students supposed to fill out FAFSA?

Both students and parents may need to fill out the FAFSA®, depending on the student’s dependency status. The student is responsible for starting and submitting the application using their own Federal Student Aid (FSA) ID. If the student is considered dependent, a parent must also provide financial information and sign the form with a separate FSA ID, which is common for undergraduates applying for aid.

What three things will you need to fill out the FAFSA?

While several documents are helpful, three crucial items needed to fill out the FAFSA are:

•  Social Security number: Your valid Social Security card and number are required. (If you are not a U.S. citizen, you may need your Alien Registration Number instead).

•  Federal income tax information: You’ll need access to information from your federal income tax returns from the relevant tax year, which can be transferred automatically using the IRS Direct Data Exchange.

•  Records of other income and assets:This includes information on current balances of cash, savings, and checking accounts, as well as the net worth of any investments, businesses, or farms. You may also need records of untaxed income received, such as child support.

Photo credit: iStock/Vladimir Sukhachev

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

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

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

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

SOISL-Q425-054

These days, college is a pricey proposition. The average annual cost of attendance for a student living on campus at a public four-year college is $30,990 (in state) and $50,920 (out of state). The average cost of attending a private, nonprofit university is $65,470 per year.

If you’re worried about how you’ll cover the cost of sending your child to college, know that you’re not alone. Also know that you (and your student) have a number of funding options, including grants, scholarships, work-study, and student loans. Read on for tips on how to pay for college when your savings isn’t enough.

Steps to Take if You Can’t Afford College

Here’s a look at five things you can do to make sending your child to college more affordable.

Complete the FAFSA

The first thing every college-bound student is encouraged to do is fill out the Free Application for Federal Student Aid (FAFSA®). This automatically gives your student access to several types of financial aid, including grants, work-study, and federal student loans.

Even if you don’t think you’ll be eligible for federal student financial aid, it’s still a good idea to complete the FAFSA. Colleges often use the information from the form to determine eligibility for their own student financial aid, including merit aid.

Federal student financial aid can come in several forms:

•   Grants A grant is a form of financial aid that typically does not have to be repaid. Many grants, such as the Pell Grant, are awarded based on financial need. However, some are based on the student’s field of study, such as the Teacher Education Assistance for College and Higher Education (TEACH) Grant.

•   Work-Study Eligibility for Federal Work-Study is determined by information provided on the student’s FAFSA. Not all schools participate in the program, so check with a school’s financial aid office to see if it does. Work-study jobs can be on or off campus, and an emphasis is placed on the student’s course of study when possible.

•   Loans Eligibility for federal student loans is also determined by the FAFSA. There are three basic types of federal student loans: Direct Subsidized Loans, Direct Unsubsidized Loans, and Parent PLUS Loans. Direct Subsidized Loans are for eligible undergraduate students who have financial need. Direct Unsubsidized Loans are for eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need. Parent PLUS Loans are for parents of dependent undergraduate students, and eligibility is not based on need.

💡 Quick Tip: You can fund your education with a competitive-rate, no-fees-required private student loan that covers up to 100% of school-certified costs.

Speak With the Financial Aid Office

Getting comfortable with the school’s financial aid office staff is a good thing. The office staff can be a font of knowledge for parents and students navigating the complex world of student financial aid. Not only can they help you understand what federal student financial aid you might be eligible for, they can also let you know what student aid is available through that particular school.

Financial aid office staff may also be able to point you toward other offices or departments on campus that may have job opportunities for students, or that offer emergency services for current students in the form of food or housing assistance.

Recommended: What Kind of Emergency Funding Is Available for College Students?

Let Your Student Take on a Part-time Job

Asking your child to work part-time while they are in school can help offset expenses. If Federal Work-Study isn’t a part of their financial aid package, they can still look for a job on or off campus to earn some money to put toward books and living expenses. Learning how to manage responsibilities is also an excellent out-of-the-classroom lesson.

Some ideas for jobs that may offer part-time, flexible hours for students include:

•   Babysitter or nanny

•   Coffee shop barista

•   Retail sales

•   Restaurant server or cook

•   Gym/fitness associate

Some part-time jobs might offer perks in addition to pay. Food service jobs might come with a discount on food during a shift, retail sales associates might get a discount on the store’s products, and working in a gym might come with a free gym membership. A visit to the campus career services office is often a good place to start looking for a part-time job.

Encourage a Gap Year

It’s not at all uncommon for a student to take a gap year between high school and college. Some students might not feel ready for college right out of high school. Others might want to have a specific experience, like travel or working in a specific field. Gap years can also allow students to earn money to pay for their future college expenses.

AmeriCorps is a federal program that pairs individuals with organizations that have a need. Volunteers can work in a variety of places and situations, from teaching to disaster relief to environmental stewardship, and more. Some AmeriCorps programs offer stipends, housing, or educational benefits like federal student loan deferment and forbearance, or a monetary award that can be used to pay for certain educational expenses.

Taking a gap year can give both you and your student time to build savings. It can also give your child an opportunity to gain work experience, or explore different professions. Of course, there can be drawbacks to taking a break from academics. It might be difficult to get back into the flow of studying after a year without that type of structure. Taking a year off without any structure or purpose might leave your child without a sense of accomplishment, so it’s generally a good idea to have a plan for how a gap year will be spent.

Consider a Less-Expensive College

Going to an in-state school vs. an out-of-state or private college is one obvious way to cut costs. Here are some other options to consider.

•   Community college Community colleges often charge much less tuition than their four-year counterparts. Choosing a community college close to home can also save on room and board. Your student might be able to start at a community college, then transfer to the college of their choice to complete their bachelor’s degree.

•   Tuition-free colleges There are some colleges that don’t charge tuition at all. Students at no-tuition schools may be required to maintain a certain grade point average, live in a certain region, or participate in a student work program. For example, service academies associated with branches of the U.S. military offer free tuition in exchange for a certain number of years of military enlistment.

•   Professional school Another option might be to bypass a traditional college degree for training in a specific career field instead. Training for non-degreed positions might last anywhere from a few months to a few years, depending on the job. For example, commercial airline pilots aren’t always required to have a bachelor’s degree, but they are required to have a pilot’s license and pass exams specific to the airline they work for. Jobs in the construction industry generally don’t require a bachelor’s degree, either, but might have apprenticeship programs or on-the-job training lasting several years.

Private Student Loans

If those options aren’t enough, you can also look into private student loans. These are available through banks, credit unions, and online lenders. Loan amounts vary but you can typically borrow up the full cost of attendance at your child’s school. Interest rates are set by individual lenders. Generally, students (or their parent cosigners) with excellent credit qualify for the lowest rates.

Just keep in mind that private loans don’t come with the same protections, like income-based repayment and forgiveness programs, that are offered by federal student loans.

💡 Quick Tip: Parents and sponsors with strong credit and income may find more-competitive rates on no-fees-required private parent student loans than federal parent PLUS loans. Federal PLUS loans also come with an origination fee.

The Takeaway

Financial challenges shouldn’t close the door on a college education. By taking proactive steps like completing the FAFSA to access grants and federal loans, communicating with the college’s financial aid office, exploring less-expensive educational paths, and considering options like a part-time job or a gap year for saving, you can significantly reduce the financial burden.

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

What if I can’t pay for my kid’s college?

If you can’t pay for your kid’s college, prioritize filling out the Free Application for Federal Student Aid (FAFSA®) to determine eligibility for federal grants, loans, and work-study programs. Encourage your child to apply for numerous scholarships (merit- or need-based), as this “free money” doesn’t need to be repaid.

Other options include attending a community college first to save money on general education courses, working part-time (potentially for an employer with tuition assistance), or choosing an in-state public university which has lower tuition costs. The college’s financial aid office is a key resource for guidance on these options.

What is the highest income to qualify for FAFSA®?

There is no maximum income limit to qualify for FAFSA® (Free Application for Federal Student Aid). The U.S. Department of Education recommends all students apply, regardless of income, because eligibility for federal aid (including grants, work-study, and loans) is determined by a complex formula that considers factors beyond just income, such as family size, assets, and the school’s cost of attendance. Even high-income families may qualify for some types of aid, such as unsubsidized federal loans or institutional merit-based aid.

What do families do when they cannot afford to send their children to college?

Families unable to afford college rely on several strategies. The crucial first step is completing the FAFSA® to access federal grants and loans. Students can also apply for numerous scholarships from private organizations and local community groups, which generally doesn’t need to be repaid. Many attend a community college for two years to save money on core courses before transferring to a four-year institution. Students often work part-time while studying or take a gap year to save money. Attending an in-state public university is another cost-saving measure. The college’s financial aid office can be a key resource for exploring these options and appealing for more aid if needed.

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

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

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

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

SOISL-Q425-015

Applying for no-interest student loans can significantly reduce the cost of earning a degree, making higher education more accessible without the long-term burden of accumulating interest. These unique funding options — typically offered by nonprofit organizations, state programs, and select institutions — allow eligible students to borrow responsibly while keeping repayment affordable and predictable.

While these loans are relatively rare, and amounts tend to lower than other types of student loans, no-interest student loans do exist and may be worth looking into for the potential savings. Read on to learn how interest-free student loans work and where to find them.

What Is a No-Interest Student Loan?

Interest-free student loans are loans that do not accrue interest. Unlike grants and scholarships, the loan amount must be repaid, but because there are no interest charges, the amount repaid by the borrower remains the same as the original amount borrowed. Traditional student loans, whether federal or private, all come with interest rates that are either fixed or variable.

The interest rates on federal student loans are fixed and are set annually by Congress. For the 2025-2026 school year, the interest rate on Direct Subsidized or Unsubsidized Loans for undergraduates is 6.39%, the rate on Direct Unsubsidized Loans for graduate and professional students is 7.94%, and the rate on Direct PLUS Loans for graduate students, professional students, and parents is 8.94%.

While federal student loan rates are the same for every borrower, private student loan rates range based on the lender, the type of interest rate (fixed or variable), and the borrower’s credit score. Interest on private student loans can run anywhere from 3.19% to 17.95%, according to Education Data Initiative.

Whatever the interest rate on a student loan, you will end up paying more than you borrow. No-interest student loans can be an attractive alternative. Here are some places to look for interest-free loans:

•   Schools: Some colleges and universities offer no-interest loans for current students to cover emergency expenses.

•   States: You may be able to find an interest-free student loan through your state’s education agency. For example, Massachusetts offers students who demonstrate financial need and attend a qualifying school in Massachusetts a no-interest loan for up to $4,000 each academic year.

•   Nonprofit organizations: Some foundations and nonprofits offer no-interest student loans. These loans can be set up in different ways. In some cases, you can get a small loan amount; in others, the organization will pay your remaining cost of attendance. Some are awarded based on merit, while others are awarded based on financial need.

Applying for Interest-Free Student Loans

The application process for most interest-free loans resembles the application process for grants or scholarships more closely than a traditional loan application.

It’s a good idea to fill out the Free Application for Federal Student Aid (FAFSA®), even if you want to focus on loans without interest. The FAFSA determines your eligibility for federal aid, including grants, scholarships, and federal student loans. Some interest-free loans use the FAFSA to determine financial need.

And while federal loans do accrue interest, they typically have lower rates than private student loans. Federal student loans also come with benefits, such as income-based repayment and forgiveness programs, that private student loans and no-interest loans may not offer.

Interest-free student loans are often local and state-based, rather than national. They may require proof of residency in a certain state. Some may also have an essay requirement, academic requirements, and might even require an interview.

The process is usually more intense than regular student loans because funds are limited. Some state agencies and philanthropic organizations use the term “scholarship loan” to refer to interest-free loans. Scholarship loans may also be repaid through public service.

Keep in mind though that those organizations are still separate from the government, and do not offer the same repayment plans as the loans offered through the U.S. Department of Education.

Recommended: Student Loan Interest Deduction

Subsidized Loans: No Interest Until After Graduation

Interest-free loans are relatively rare, so it’s possible that students will still need to rely on federal student aid. There are two types of federal Direct Loans available to undergraduate students: subsidized and unsubsidized.

Subsidized loans are available to undergraduates who demonstrate financial need. The U.S. Department of Education pays the interest accruing on the loans while you’re in school, during your six-month grace period, and when your loans are in deferment.

On the other hand, unsubsidized loans are available to undergraduate and graduate students, and they don’t require that students demonstrate need in order to qualify. Interest accrues while you’re in school and during grace periods, deferment, or forbearance — and you’re responsible for paying the interest.

Federal student loans also offer a few different payment plans, including income-driven repayment plans, so that borrowers can find the option that works best for them. There are also borrower protections like deferment or forbearance that can act as a safety net for those who find themselves facing financial difficulties down the road.

The Takeaway

No-interest student loans, sometimes called scholarship loans or interest-free loans, are loans that do not accrue interest at all. While not common, there are some nonprofits, state agencies, schools, corporations, and religious organizations that offer interest-free loans to students.

In case you’re not able to find or qualify for a no-interest loan, it’s a good idea to fill out the FAFSA to access other forms of financial aid, including grants, scholarships, and 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

What is a zero-interest student loan?

A zero-interest student loan is a loan where you borrow money for your education but aren’t charged any interest — so you only repay the principal amount you borrowed.

Who can qualify for zero-interest student loans?

Typically, these loans go to low-income students, residents of certain states, or borrowers who meet specific financial-need criteria or eligibility requirements set by nonprofit or state programs.

Where can students find zero-interest loan programs?

Many are offered through state-funded programs — for example, state-administered no-interest loan initiatives — or through nonprofit organizations dedicated to making higher education more affordable.

About the author

Julia Califano

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

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-Q425-052

An acceptance letter is a college’s formal invitation for you to enroll in their programs as a student. Depending on the type of admission you applied for, letters will be delivered from December through April. Once received, you have the option to accept or decline the offer.

Financial aid offer letters may look similar to an acceptance letter, but differ in key points. Financial aid offer letters, also known as award letters, will outline financial aid (if any) and a summary of the cost of attendance. Generally, an acceptance letter and an offer letter are sent together. In some cases, though, offer letters may be sent after acceptances.

Read on to learn more about what an acceptance letter is, what an offer letter is, when to expect an acceptance letter, and how to respond to an acceptance letter.

Basic Definition of an Acceptance Letter

Acceptance letters will generally contain the three following components:

1.   A university’s offer to enroll and reasons the applicant stood out.

2.   Details about on-campus events for prospective students.

3.   Important deadlines and information on ancillary documents, such as a financial offer letter.

Students who apply for regular decisions generally receive their decision letters in March and April, but early decision and early action decision letters may be sent as soon as December.

Offer Letter vs Acceptance Letter for College

As mentioned, an acceptance letter details whether or not a student has been admitted into a specific college. Financial aid offer letters, also known as financial aid award letters, break down the tuition cost, scholarships and grants awarded, work-study programs offered, and federal student loan options available.

In order to apply for federal financial aid, students are required to fill out the Free Application for Federal Student Aid, or FAFSA®, annually. The information provided on the FAFSA helps determine the types of aid, and aid amounts, that students qualify for.

Scholarships and grants are funds awarded to students that do not need to be repaid. Loans are either provided by the government or a private entity and are repaid by the borrower, though only federal student loans would be included as a part of a student’s federal aid package. Work-study is a federal program that offers employment to students who qualify and have filed a FAFSA.

Furthermore, colleges use the information provided on the FAFSA to determine awards based on needs and merit.

In cases when federal aid isn’t enough to pay for college, students may consider private student loans to help fill in funding gaps. Keep in mind, though, that private student loans aren’t necessarily afforded the same borrower protections as federal loans — things like income-driven repayment or deferment options. That is why private student loans are generally only considered after all other options have been depleted.

College Acceptance Letter Dates

College application deadlines vary by college and so will college acceptance letter dates. Acceptance letters are sent out on dates depending on the type of application you submitted: regular, early action, restrictive early action, or early decision.

Applying for college early is one way prospective students can complete the application and acceptance process on an early timeline. It can be a path for those who have researched colleges thoroughly and want to get into a specific college.

Early action gives you a chance to apply to several colleges at once. Restrictive early action typically allows you to apply early to a single college, with the exception of public universities. Applicants who choose these routes are not obligated to accept their offer if admitted.

Early decision applicants apply to one school early decision and, if accepted, are required to commit. If an early decision applicant is accepted, they must withdraw their application from all other schools.

Additionally, some schools offer a more flexible rolling admission process. Instead of waiting to evaluate applications after specific deadlines, schools review applications as they are submitted (on a rolling basis). Generally, they’ll continue accepting applications until all of the open slots in their program are filled.

This table provides an overview of the types of applications, their general deadlines, and information on when students may accept a decision. Keep in mind that these dates are broad guidelines, and students should confirm all deadlines with the schools of interest.

When Do College Acceptance Letters Arrive?

Depending on the type of application, your college acceptance letter may arrive between December and April. Financial aid offer letters will be sent with or may follow acceptance letters.

What Does a College Acceptance Letter Say?

A college letter of acceptance will share the admission decision and may offer a list of upcoming events, such as when orientation will take place. It will also contain a deadline for you to submit a final decision.

The Decision

The first paragraph gets straight to the point: you’re in! It may also detail why you stood out from other applicants.

Prospective Student Events

Your letter may contain information on upcoming event dates and inform you on incoming ancillary documents, such as your financial offer letter.

Acceptance Deadline

The last portion of your letter will have important deadlines, including the date to accept the college’s offer. May 1st has become widely known as the deadline for students to make decisions about the college they’ll enroll in. Keep in mind that while this is a popular date for decision deadlines, colleges may have their own deadlines and applicants who applied early may have an earlier deadline.

Recommended: 7 Tips to Prepare for College Decision Day

How to Respond to College Acceptance Letter

Colleges typically send acceptance letters via email or through the college application portal you set up when you first applied, and you can generally accept or decline through the portal. However, some schools will send acceptance letters and forms to formally decline or accept their offer by snail mail.

Be sure to educate yourself and stay connected to your top choice colleges’ admissions offices on how to respond to their college acceptance letter and to prevent missing important communications.

1. Weigh Your Options

College tuition is rapidly increasing — and can play a major role in your decision.

Compare financial offer letters to determine the best deal. If a college offers more aid, but has a substantial cost, then another college with less aid and a smaller price tag might impact your decision.

There are no standard offer letter forms, so cross-checking their website with your offer letter and getting advice can be helpful. You can also follow up with college admissions offices with your questions.

2. Choose Which College You Want to Attend

Of course, other factors will weigh into your decision-making. According to The Princeton Review’s 2025 “College Hopes & Worries” survey, students are split between prioritizing “overall fit” and “program for my career interests” when choosing a college. Nearly half (47%) of respondents chose the answer “College that will be the best overall fit,” while nearly a third (32%) selected “College with the best program for my (my child’s) career interests.” Only 11% chose “College that will be most affordable” and only 10% chose “College with the best academic reputation.”

You can break down your decision even further with the following questions:

•  How strong is the academic rigor of the program I’m pursuing? Is the program a fit for me?

•  How important is the location to me?

•  What stands out to me about the campus culture?

•  Is this institution the right fit for my financial situation?

•  Does it have strong career preparation programs and resource offices?

Choosing a college will take time. But with research and guidance, you can have more confidence in making your final decision.

3. Find Funding for the School You Choose

Financial aid from schools, private entities, and the government may help put an expensive college within reach. If your top choice is not fully covered by out-of-pocket finances and other sources of financial aid, applying for a private student loan is an option.

Also, getting a job during the summer or working while in school can help with tuition and daily needs.

Recommended: How to Pay for College

4. Decline Other College Acceptance Letters

Once you’ve accepted a school offer, be sure to notify other colleges that accepted you that you are declining their offer as soon as possible. This enables them to offer your spot to waitlisted prospective students.

The Takeaway

Your college admission acceptance letter and financial aid offer letter are key to deciding your next steps. From as early as December until April, you may receive college decision letters. Unless you applied early decision, waiting to receive all college acceptance letters can help you evaluate your options.

Funding your education will be one of the most important decisions you make. Compare your financial aid offer letters to determine which school offers the best value. Most colleges will give you until May 1 to accept or decline their offer and financial aid package (if any).

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

FAQ

How do I get my college acceptance letter?

Typically, colleges will send your acceptance letter via email or through the online college application portal you used to submit your materials. For a few schools, especially those with an older or more traditional process, you may still receive a physical acceptance packet by postal mail, which often includes a congratulatory letter, forms to formally accept or decline the offer, and additional information about the college. Always check the admissions page of your chosen schools for their specific communication method.

When should I expect my college acceptance letter?

Acceptance letter arrival times depend on the type of application you submitted. If you applied via early action or early decision, you can generally expect a decision between December and January. Regular decision applicants usually hear back in March or April. For rolling admission, schools review applications as they come in, and you will typically receive a decision within four to six weeks of submitting your application. Always confirm specific dates on the college’s admissions website.

Do colleges still send out physical acceptance letters?

While digital communication is now the norm for college admissions, some institutions, especially those with established traditions, continue to send physical acceptance packets through the postal mail. These often contain a formal congratulatory letter, along with hard copies of forms needed to accept or decline the offer, and various campus-specific materials. Therefore, you may receive both an email notification and a packet in the mail.

Photo credit: iStock/Adene Sanchez

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

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

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

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

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The dean’s list is a listing of undergraduate students recognized for outstanding academic achievement in a given semester, quarter, or year. Each college and university has different dean’s list requirements, but students who finish the term with a high grade point average (GPA) and are in the top percentile of their class for academic performance often earn a spot on the dean’s list.

Not only is having the dean’s list award on your transcript a remarkable personal achievement, but it could also make a big impact on grad school admissions and future employers.

Dean’s List Meaning

The dean’s list is a scholarly award for undergraduate students who achieved high scholastic standing during the academic year. The award may be released after each semester, quarter, or academic year and is typically based on a student’s GPA. However, specific dean’s list requirements will vary by institution and can change each term.

💡 Quick Tip: You can fund your education with a competitive-rate, no-fees-required private student loan that covers up to 100% of school-certified costs.

Dean’s List Requirements

Dean’s list requirements vary by college and can change each term, but there are typical conditions that a student must meet. To meet basic dean’s list requirements, students must:

•  Meet the minimum GPA requirements set by the school.

•  Be in the top percentile of their class for academic achievement.

•  Be taking a minimum number of credit hours. Most schools require students to be enrolled full-time, but some schools may include part-time students in the dean’s list.

•  Have zero incompletes, no-shows, or late grades.

What GPA Is Needed to Make the Dean’s List?

Dean’s List GPA requirements vary by university but generally students need to have a GPA of 3.5 or higher on a 4.0 scale and be taking a minimum of 12 credit hours.

In some cases, a school will give the award to the top percentile of students rather than everyone who earns a certain GPA. This means that the required GPA can change each semester based on the academic performance of the student body. Check with your college to determine the minimum GPA or other requirement to make the dean’s list.

Recommended: How Much Does GPA Matter When Applying to College?

What Is the Benefit of Being on the Dean’s List?

Earning a spot on the dean’s list is one of the highest levels of recognition for academic achievement. Students who earn the award can enjoy a variety of benefits that can continue throughout their educational career and beyond.

Personal Achievement

Making it onto the dean’s list requires academic commitment and dedication. Being on the dean’s list means you’ve ranked in the top percentile amongst your peers, which will be noted on your school record and should be seen as a great personal achievement.

Prestige

Having your name on the dean’s list, especially for multiple terms, is one way to help you stand out from the crowd. The dean’s list award is a testament to your academic success and has traditionally been looked upon favorably by the school’s administration as well as by other students.

Recognition

Some schools recognize students who made it onto the dean’s list by posting students’ names on the school website and sometimes local publications. Outstanding academic performance can also help you build relationships with your professors, who may be able to write letters of recommendation and references later on.

Special Events

Because your GPA is ranked among the top of your class, you might receive invitations to special events. These are typically networking events with top company executives. Networking can allow you to form connections with other people in your field of study and open the door to possible employment opportunities.

Attract Prospective Employers

Some colleges may include your dean’s list award on your school transcript, and you can also attract potential employers by mentioning this award on your resume. However, some recruiters don’t recommend adding this achievement to your resume if you were only on the dean’s list for one or two semesters or inconsistently.

Even if you don’t include the dean’s list on your resume, prospective employers may still consider your GPA when making hiring decisions. According to the National Association of Colleges and Employers’ Job Outlook 2025 Spring Update report, roughly 38% of employers screen by GPA when making interviewing and hiring decisions.

Scholarships

While being on the dean’s list doesn’t guarantee any financial aid, a high GPA could make you eligible for merit scholarships. Merit-based scholarships typically use your GPA, test scores, leadership capabilities, and other factors to determine your eligibility.

Are There Any Student Loan Benefits When Getting on the Dean’s List?

There usually aren’t any financial perks for getting on the dean’s list with federal student loans or most private lenders. Some private lenders may offer a reward for a certain GPA, but most lenders typically only consider your GPA if it’s too low.

Your GPA could affect your eligibility for other types of financial aid, like scholarships and grants, though. You’re required to make Satisfactory Academic Progress (SAP) to meet the basic eligibility criteria for certain types of financial aid. A higher GPA also makes it easier for you to receive more financial aid.

💡 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.

What Other Academic Awards Can You Earn in College?

The dean’s list isn’t the only academic award that you can earn in college. There are several other awards that are given to students in recognition of outstanding achievement and as a means to further encourage academic excellence. Here are a few academic awards for college students.

The Honors List

The honors list is similar to the dean’s list; however, it may have different GPA requirements — usually lower. For example, students may be eligible for a spot on the dean’s list if their GPA is 3.5 or higher, while students on the honors list have a GPA between 3.25 and 3.5.

The President’s List

At some colleges, undergraduate students earn the president’s list award if they earn a perfect 4.0 GPA. Part-time and full-time students may be eligible for this award.

The Chancellor’s List

At schools that offer this award, the chancellor’s list is typically ranked slightly higher than the dean’s list. Both full-time and part-time undergraduate students may usually qualify for the chancellor’s list.

Ways to Pay for College

If you’re aiming to see your name on the dean’s list, financial stress can hinder your ability to succeed academically. Nearly half of college students say their current financial situation makes it difficult to concentrate on their coursework, according to a 2024 survey by Trellis Strategies.

Luckily, there are options out there for prospective and current students who are struggling with how to pay for college. Here are some to consider:

•  Fill out the Free Application for Federal Student Aid (FAFSA®) to see if you qualify for financial aid. It’s a good idea to complete the form as early as possible because many colleges award money on a first-come, first-served basis.

•  Search for scholarships, which are a form of merit aid to help pay for tuition and other education expenses. There are thousands of available scholarships to students with some even offering a full-ride to a four-year institution.

•  Apply for grants. Grants are another form of financial aid that doesn’t need to be repaid. Students can apply for federal, state, or school grants.

•  Find a work-study position. The federal work-study program offers part-time jobs to college students with demonstrated financial need, letting them earn money for educational expenses while gaining relevant experience.

•  Look at student loans. If you are still struggling to afford school-related expenses after exhausting other forms of financial aid, there are a variety of federal and private student loan options to help.

The Takeaway

Students who make the dean’s list are recognized for outstanding academic achievement. Benefits include personal achievement, prestige, public recognition, the opportunity to attend special events, being granted scholarships, and standing out on job applications.

Students who are less stressed financially tend to do better in school. Options for paying for college include 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

What GPA is required to get on the dean’s list?

The minimum GPA for the dean’s list varies by school and it can change every term. However, most schools require at least a 3.5 GPA on a 4.0 scale.

What does it mean when you get on the dean’s list?

What it means to be on the dean’s list is that you’ve ranked in the top percentile of your class. The dean’s list is one of the highest levels of recognition for scholarly achievement.

What is the benefit of being on the dean’s list?

Earning a spot on the dean’s list comes with several benefits. Not only is it a prestigious award and a significant personal achievement, but you could be invited to special events, network with others in your field of study, and attract prospective employers.

Photo credit: iStock/Prostock-Studio

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

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

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

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

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