What's the monthly payment on a $50,000 HELOC?

The monthly payment on a $50,000 HELOC hinges on the interest rate and the terms for repayment, as well as how much of the credit line you have used and which HELOC phase you are in. During the draw period, you'd usually be making interest-only payments. But once that phase is over, get ready to tackle both the principal and interest, which could mean a jump in your monthly payment.

What are the perks of a HELOC?

HELOCs are a great option for many reasons. They give you the flexibility to draw funds when you need them to use for any purpose. It’s also helpful for some borrowers that a HELOC’s draw phase means you can pay interest only for up to a decade before beginning to repay the principal. HELOCs also often have lower interest rates than unsecured loans, such as personal loans.

How hard is it to get a HELOC?

The process of securing a HELOC is quite manageable, provided you meet the lender's criteria. Generally, a credit score of 640 or higher, a debt-to-income ratio (DTI) under 50%, and home equity of at least 15% are the key prerequisites, although better numbers will get you better rates. You'll need to present income verification, credit history, and have your home appraised. While HELOCs are more accessible than cash-out refinancing, they still necessitate a comprehensive evaluation of your financial standing.

Will a HELOC impact your credit score?

Indeed, a HELOC can have an impact on your credit score. When you first open one, you might see a small decrease due to the lender’s hard credit inquiry. But how you manage your account in the long run is what really matters. Making timely payments can actually boost your score, while missed payments or maxing out your credit limit can do the opposite.

Date	U.S. Rate
9/19/2024	8.00%
7/27/2023	8.50%
5/4/2023	8.25%
3/23/2023	8.00%
2/2/2023	7.75%
12/15/2022	7.50%
11/3/2022	7.00%
9/22/2022	6.25%
7/28/2022	5.50%
6/16/2022	4.75%
5/5/2022	4.00%
3/17/2022	3.50%
3/16/2020	3.25%
3/4/2020	4.25%
10/31/2019	4.75%
9/19/2019	5.00%
8/1/2019	5.25%
12/20/2018	5.5%
9/27/2018	5.25%

Aug

2025

Online Scams Are Pervasive: How to Safeguard Your Money

By Dawn Papandrea | | Comments Off

They seem to infiltrate every aspect of our online lives: shopping, job hunting, investing, and even dating.

They’re internet scammers, and their field of opportunity is exponentially bigger now that we’re so digitally connected. Over 60% of adults in the U.S. get a scam phone call, email, or text at least weekly, and in many cases it’s a daily reality, according to a newly released Pew Research survey. One in five (21%) reported losing money to an online scam or attack.

In fact, internet crime led to a record $16.6 billion in reported losses last year — a 33% spike from 2023, data from the FBI’s Internet Crime Complaint Center shows. The average loss per complaint was over $19,000.

So, when are we most vulnerable?

For starters, many scams try to exploit job seekers or those in need of income. Scammers post fake listings dangling amazing-sounding offers that require some kind of payment to access.

Or, they offer work doing things like “optimization” or “product boosting” online, only you need to pay to get the assignments. They even prey on legitimate new hires by posing as their new boss in urgent need of their financial information or their help buying gift cards. (How’s that for a reason not to share the news of your new job on social media.)

In other cases, scammers are claiming you broke the law in some way. You missed jury duty, have unpaid parking tickets, or are behind on your taxes. The common denominator is always urgency, and the threat of harsh consequences if you don’t pay right away.

Online shoppers also continue to be a target, whether it’s with scam refund notices (like this recent Amazon phishing scam) or counterfeit retail websites selling merchandise that’s fake or never arrives. Thirty-six percent of respondents in the Pew Survey said they’ve been burned by the latter.

And then there are the sweetheart scams: Charming con artists who deploy fake online dating profiles or AI bots to forge a romantic connection on social media. They may say they need money because they’re sick or hurt. Or they offer to help you invest your money.

So what? Knowledge is power when it comes to protecting your money. Even though today’s scammers are leveraging personal data collection and artificial intelligence to try to fool people, most online scams have a few red flags in common. And extra vigilance goes a long way if you stick to these basic principles:

• Avoid the click trap. Even if a text or email appears to come from a company you do business with, tread carefully. If an offer seems too good to be true, or the company is asking you to update account information, do not click. Head directly to the provider’s main website, log into your app, or contact customer service to determine if it’s a fake operative.

• Be wary of payment preferences. If you’re asked to make payments in cryptocurrency, prepaid gift cards, or through a wire transfer, it could be a scam. Crypto was used to facilitate the crimes that led to $9.3 billion of last year’s internet losses, according to the FBI data. That’s a 66% increase from 2023.

• Take it slow. Legitimate organizations will give you time to make a decision. If you’re feeling pressured to act quickly, it’s probably a scam.

• Stay alert. No matter how clever a scammer is, you take away their power if you can see them coming. Sign up for consumer alerts from the FTC and use Google’s Safe Browsing Tool to stay one step ahead of the next online hoax.

Why Are Credit Card Rates So High?

By Lindsay VanSomeren | | Comments Off

Credit cards are pretty integral to daily life. Three in four U.S. adults have at least one, and we use them for 70% of our retail spending, according to a recent analysis by New York Federal Reserve economists.

They’re also one of the most common ways to borrow money, with 60% of accounts showing a balance being carried from month to month, the analysis indicates.

But that can be an expensive proposition. Credit cards carry pretty steep interest rates compared to other types of loans: They average over 22%, as of the latest Fed data available, and can easily top 30%.

Plus, in contrast to most personal or auto loans, the interest on credit cards compounds — meaning you’re charged interest on your interest. You can get behind more quickly and end up feeling like you’re stuck on a credit treadmill.

So why are credit card rates so high, relatively speaking? Let’s look at how credit card issuers set their rates — and what you can do to keep your costs down.

How Credit Card Interest Rates Are Built

There are three layers to the variable interest rate, or annual percentage rate (APR,) that is offered to you on a credit card.

• The rate you’re charged starts with the federal funds rate, a benchmark rate set by the Federal Reserve and dependent on economic conditions. Right now the upper target for the fed funds rate is 4.50%, but it was nearly zero during much of the pandemic and double-digits during the early ‘80s, when inflation was sky high.

• Credit card issuers then tack on a set amount — almost always 3 percentage points — to the fed funds rate. This creates what’s known as their prime rate for consumers.

• Issuers then add an interest rate margin to the prime rate. They decide this margin, which can vary from cardholder to cardholder. People who are considered a good credit risk are generally offered a lower interest rate margin than those who aren’t. (More on this in a moment.)

Why Credit Card Rates Are High Now

What does all this tell us?

First, credit card rates usually move in lockstep with the fed funds rate, which is still over 4 percentage points higher than it was in early 2022.

Second, card issuers have a lot of control over rates. Between 2013 and 2023, the average U.S. credit card rate spiked from 12.9% to 22.8%, in part because the average interest rate margin climbed from 9.6% to 14.3%, according to a 2024 analysis from the Consumer Financial Protection Bureau (CFPB).

To be fair, there’s a lot of debate about why the average rate margin has risen. Issuers have attributed it to an increase in their risks (i.e. more borrowers with subprime credit scores) while some consumer advocates suggest it’s more about generating profits.

The NY Fed’s analysis found that the two most significant reasons for high rates are the large marketing expenses associated with the credit card business and the risk of a major economic downturn causing widespread defaults. (Keep in mind that unlike with a mortgage or an auto loan, there’s no collateral with credit cards.)

How Your Credit Score Factors Into Rates

All that said, your own credit score can still be a powerful lever when it comes to credit card rates.

Let’s say the fine print of an offer says “We add 8.74% to 19.74% to the Prime Rate to determine the Purchase APR.” This means applicants who are seen as the most creditworthy are likely to get the 8.74% margin, while those seen as the least creditworthy could get the 19.74% margin. (To see what kind of difference this can make to your finance charges, use this SoFi calculator.)

Ways to Combat High Credit Card Costs

It won’t matter what today’s credit card rates are if you’re not carrying a balance. If at all possible, pay your balance in full each month. It’s not only the easiest way to avoid a cycle of debt, but it can reduce your financial stress and potentially free up money for important financial goals.

If paying in full isn’t possible, here are some other ways to keep your credit card costs down:

• Build a strong credit score: As we’ve just said, credit card issuers tend to charge lower rates if you have a higher credit score, so it can literally pay to work on your score. Making your credit card and other loan payments on time, every time, is the biggest factor in building good credit.

• Avoid late payments: Beyond the credit score implications, some issuers will charge you a higher penalty APR if you’ve been late or missed a payment. Set up automatic payments to avoid mishaps.

• Consider a debt consolidation loan: If you’ve already got credit card debt, moving it from a credit card to a personal loan could significantly lower your interest rate. (Check out SoFi’s rates here.) Just be careful not to run up a balance again.

• Work on building up an emergency fund: You don’t want a surprise to derail your finances. If your pet gets sick or your car dies, having a buffer of savings to draw from can help you avoid incurring credit card debt.

• Don’t pay to use your card: While there are some credit card rewards and perks worth paying for, it’s often best to choose credit cards you can use for free. That means cards that don’t charge an annual fee or foreign transaction fees when you go abroad.

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Aug

2025

Carnegie Mellon University Tuition and Fees

By [email protected] | Uncategorized | Comments Off

Carnegie Mellon University Tuition and Fees

Carnegie Mellon University, located in Pittsburgh, Pennsylvania, is a prestigious private research university that was founded in 1900 by Andrew Carnegie. It has consistently ranked among the top universities globally, particularly in fields like computer science, robotics, AI, and engineering. Carnegie Mellon offers a wide range of undergraduate, graduate, and professional programs across its seven colleges and schools.

Keep reading to learn more on Carnegie Mellon University tuition costs, housing expenses, top majors, and more.

Total Cost of Attendance

For the 2024-25 academic year, the total cost of attendance at Carnegie Mellon was $86,812. Below is a summary of the costs, including tuition, books and supplies, room and board, and other education-related expenses.

Costs for 2024-2025

Expenses	Costs
Tuition & Fees	$66,246
Books & Supplies	$1,000
Room & Board	$18,166
Other Expenses	$1,400
Total Cost of Attendance	$86,812

Financial Aid

At Carnegie Mellon University, 58% of undergraduates students enrolled full-time received financial aid for the 2022-23 academic year. The most common form of financial aid was grants or scholarships, with 49% of undergraduates receiving such awards, totaling $47,550 on average.

Approximately 17% of Carnegie Mellon undergrads received federal Pell Grants, with an average grant of $5,934. Additionally, 35% of students received federal student loans to help pay for their education at Carnegie Mellon.

Explore financial aid options: Pennsylvania Student Loan & Scholarship Information

Generally, financial aid is monetary assistance awarded to students based on personal need or merit. Students who qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, or nonprofits. The different types include:

• Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

• Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.

• Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

• Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than those on private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

You can find other financial aid opportunities at sources such as:

• U.S. Department of Education – Learn more about the grants that are bestowed by the federal government

• College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

• Scholarship Search Tool

Private Student Loans

In 2022-23, 3% of full-time undergraduate students at Carnegie Mellon took out private student loans to help cover educational costs, with an average loan amount of $34,884.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations, so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school. Federal student loans don’t have to be paid back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for, because it generally has better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school during the year, private loans can potentially help you make your tuition payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: A Complete Guide to Private Student Loans

Projected 4-Year-Degree Price

Based on the 2024-25 tuition and costs, a four-year degree at Carnegie Mellon would amount to $347,248, without accounting for any annual cost increases. This is notably higher than the national average cost for four years at a private university, which is $241,680, according to CollegeData.com.

This student loan and scholarship information may be valuable as you research schools and costs.

Undergraduate Tuition and Fees

Costs for 2024-25

Expenses	Costs
Tuition & Fees	$66,246
Books	$1,000
Total	$67,246

Carnegie Mellon tuition and fees for undergraduate students totaled $66,246 in the 2024-25 academic year. In comparison, the average cost of tuition and fees at private colleges is $41,540.

Room and board expenses for Carnegie Mellon undergrads amounted to $18,166 for students living on campus. This is higher than the national average of $14,650 for room and board at private colleges.

Graduate Tuition and Fees

Costs for 2024-25

Expenses	Costs
Tuition	$49,999
Fees	$976
Total	$50,975

Graduate students at Carnegie Mellon paid $49,999 for tuition on average for the 2024-25 academic year. Grad students were also required to pay $976 in fees related to student activities, technology, and transportation.

The total cost for graduate school at Carnegie Mellon is higher than the national average of $36,760.

Students might consider graduate loans alongside scholarships, grants, and teaching assistantships to pay for their graduate degree.

Cost per Credit Hour

Carnegie Mellon University does not follow a traditional credit hour system. Rather, undergrads must be enrolled in a minimum of 36 units per semester to be considered full-time students. For students enrolled in fewer than 36 units in the 2024-25 academic year, Carnegie Mellon charged $898 per unit.

Campus Housing Expenses

Costs for 2024-25

Expense Type	On-Campus	Off-Campus
Room & Board	$18,166	$16,356
Other Expenses	$1,400	$2,080
Total Housing Expenses	$19,566	$18,436

Carnegie Mellon is home to 26 residence halls and apartments, with 65% of undergraduate students living on campus for all four years of study. Incoming freshmen and certain transfer students are required to live on campus.

Students could pay less for housing by living off campus, depending on the type of housing and number of roommates they live with. The average rent for a three-bedroom apartment in Pittsburgh is around $1,907 a month, according to Apartments.com. Living off campus may require additional transportation costs, though students can utilize public transportation and the university’s shuttle services. Carnegie Mellon maintains a university-affiliated marketplace to help undergrad and graduate students to find off-campus housing.

Carnegie Mellon University Acceptance Rate

Fall 2023

Number of Applications	Number Accepted	Percentage Accepted
33,707	3,708	11%

Carnegie Mellon University had an acceptance rate of 11% for the Fall 2023 semester. Of those admitted, 44% ultimately enrolled.

Admission Requirements

Students may apply for early decision or regular decision at Carnegie Mellon. First-year students must submit their application by November 3 of the previous year for early decision. Regular decision applications are due on December 1 of the previous year for the Schools of Drama and Music, or January 5 of the same year for all other programs.

Here are the required materials for applying, plus what else can be considered with an application:

Required:

• Common application

• Common application essay and writing supplements

• High school transcripts

• Secondary school counselor evaluation

• Teacher recommendation

• English proficiency test

• SAT/ACT test scores (depending on program)

Considered:

• SAT/ACT scores (depending on program)

• Work experience

SAT and ACT Scores

Standardized test score requirements vary by program at Carnegie Mellon. The School of Computer Science requires an SAT or an ACT score, whereas other programs have a test flexible policy that allows applicants to self-report scores from a wider range of standardized tests.

For the 2023-24 academic year, 51% and 17% of students submitted their SAT and ACT scores, respectively. Here’s a breakdown of the 25th and 75th percentile numbers by subject.

Subject	25th Percentile	75th Percentile
SAT Reading/Writing	730	770
SAT Math	770	800
ACT Composite	34	35
ACT English	34	36
ACT Math	33	36

Popular Majors at Carnegie Mellon University

Undergraduate students can pursue 80 majors and over 90 minors across six schools at Carnegie Mellon. These are the 10 most popular degree programs.

1. Engineering

Students who are accepted to the School of Engineering may choose to major in a specific discipline, such as chemical engineering or mechanical engineering. During the spring semester of freshman year, students may select an additional major from the department.

Undergraduate degrees in 2023-24: 332

2. Computer Science

One of several majors in the School of Computer Science, this program develops students’ analytical and technical skills. Many students have the opportunity to participate in ongoing research projects within CMU, whether as part-time work or an independent study.

Undergraduate degrees in 2023-24: 216

3. Business Administration and Management

The Tepper School of Business equips students with communication and analytical skills to become future entrepreneurs and industry leaders. Business majors can choose from several concentrations, such as accounting, finance, and strategic management.

Undergraduate degrees in 2023-24: 138

4. Statistics

This program brings together statistical theory and data analytics and includes hands-on experience and classroom learning to prepare students for a variety of careers.

Undergraduate degrees in 2023-24: 109

5. Information Systems

This is a joint degree program between the Heinz College and Dietrich College of Humanities and Social Sciences. The highly technical program provides students with multiple pathways for advanced study and research with leading researchers in the field.

Undergraduate degrees in 2023-24: 108

6. Drama and Theater Arts

Students who pursue a Bachelor of Fine Arts (BFA) in Drama at Carnegie Mellon receive in-depth training for a creative career, either on stage or behind the scenes. This program allows students to concentrate in acting/music theater, design, dramaturgy, and production technology and management.

Undergraduate degrees in 2023-24: 64

7. Design and Visual Communications

Students interested in design and visual communications can pursue several interdisciplinary tracks within Carnegie Mellon’s School of Fine Arts. This includes product design, communication design, and environmental design.

Undergraduate degrees in 2023-24: 42

8. Economics

Economics majors gain the knowledge and experience needed to understand how the economy works and apply theory and analytical skills to tackle complex questions. This program prepares students for a range of public and private sector careers, as well as graduate studies.

Undergraduate degrees in 2023-24: 38

9. Architecture

This major within the School of Architecture is a five-year degree program that is accredited by the National Architectural Accrediting Board, putting students on the path to a career as a licensed architect. During their studies, students have the opportunity to collaborate with artists, scientists, and scholars across a variety of disciplines.

Undergraduate degrees in 2023-24: 33

10. Artificial Intelligence

This cutting-edge program was founded in 2018 as the nation’s first bachelor’s degree in artificial intelligence. Students take coursework from several disciplines, including mathematics, machine learning, and robotics.

Undergraduate degrees in 2023-24: 32

Graduation Rate

Here are the graduation rates for students who began their undergraduate studies in Fall 2017:

• 4-year: 79%

• 6-year: 93%

Post-Graduation Median Earnings

Graduates of Carnegie Mellon earn a median salary of $115,000. This is significantly higher than the national median for college graduates of $80,236.

Bottom Line

Carnegie Mellon University is a prestigious school offering a wide range of undergraduate and graduate programs. With an acceptance rate of 11%, getting into Carnegie Mellon is very competitive. Though it has a higher cost of attendance, most students receive some form of financial aid, and graduates can expect to earn significantly more with a degree from CMU.

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.

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

View your rate

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

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Aug

2025

Virginia Tech Tuition and Fees

By [email protected] | Uncategorized | Comments Off

Virginia Tech Tuition and Fees

As Virginia’s leading research institution, Virginia Polytechnic Institute and State University (Virginia Tech) in scenic Blacksburg, Virginia, offers 280 undergraduate and graduate degree programs. Virginia Tech’s motto: Ut Prosim (That I May Serve), permeates everything it does, from student research to professors’ teachings in the classroom. Virginia Tech serves more than 38,000 undergraduate, graduate, and professional students.

Keep reading to learn more on Virginia Tech, including tuition and housing costs, acceptance rates, and top majors in the college.

Total Cost of Attendance

The Virginia Tech rate for tuition and fees for Virginia residents was $15,948 in 2024-25, according to the most recent data from NCES. This figure is slightly higher compared to other public universities in Virginia, where the average tuition and all mandatory fees for in-state undergraduates hovers around $14,460.

In the United States, public four-year in-state tuition and fees was $11,610 on average, while public four-year out-of-state tuition was $30,780 in 2024-25.

Costs for 2024-2025

Expenses	In-State	Out-of-State
Tuition & Fees	$15,948	$37,764
Books & Supplies	$2,678	$2,678
Room & Board	$16,550	$16,550
Other Expenses	$4,494	$4,494
Total Cost of Attendance	$39,670	$61,486

Financial Aid

Virginia Tech awards 69% of its students with financial aid, including federal work-study, scholarships, grants, and loans.

Explore financial aid options: Virginia Student Loan & Scholarships

Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

• Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.

• Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

• Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than those on private loans.

You can find other financial aid opportunities at sources such as:

• U.S. Department of Education – Learn more about the grants that are bestowed by the federal government

• College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

• Scholarship Search Tool

Private Student Loans

A total of 39% of students at Virginia Tech use federal student loans (an average of $5,390 in loans) to help fund their education, while 9% use private student loans (an average of $23,493 in loans).

Private student loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations, so their qualifications and interest rates can vary widely.

Recommended: A Complete Guide to Private Student Loans

Projected 4-Year-Degree Price

Virginia Tech’s cost for in-state students over four years, including tuition, fees, room, board, books, and other expenses would likely cost more than $158,680 (costs will increase over time). Similarly, the cost for out-of-state students would be $245,944 over the course of four years.

How does that amount compare to other schools across the country? For the 2023-24 academic year, the average price of tuition and fees among colleges and universities was as follows:

• In-state residents at public colleges: $45,040 for four years

• Out-of-state residents at public colleges: $116,600 for four years

Virginia Tech costs more for both in-state and out-of-state students compared to the national average.

This student loan and scholarship information may be valuable as you research schools and costs.

Undergraduate Tuition and Fees

Costs for 2024-25

Expenses	In-State	Out-of-State
Tuition & Fees	$15,948	$37,764
Books	$2,678	$2,678
Total Undergraduate Costs	$18,626	$40,442

The combined cost of Virginia Tech tuition, fees, and books in 2024-25 was $18,626 for Virginia residents and $40,442 for non-residents.

Graduate Tuition and Fees

Costs for 2024-25

Expenses	In-State	Out-of-State
Tuition	$15,768	$31,690
Fees	$2,796	$3,402
Total Graduate Costs	$18,564	$35,092

Assuming a two-year program, a master’s degree from Virginia Tech would cost $37,128 for in-state students and $70,184 for out-of-state students.

The average cost of a master’s degree in the United States is $62,820. A master of arts degree usually costs $71,140, while a master of science degree typically costs $61,380.

Students can obtain graduate loans to help with the costs.

Cost per Credit Hour

The Virginia Tech cost per credit hour is $548 per credit hour for in-state students and $1,432.25 per credit hour for out-of-state students. Certain programs of study may cost more, so check with the bursar’s office for the most up-to-date information about costs at Virginia Tech.

Campus Housing Expenses

Costs for 2024-25

Expense Type	On-Campus Costs	Off-Campus Costs
Room & Board	$16,550	$12,578
Other Expenses	$4,494	$4,494
Total Expenses	$21,044	$17,072

Of Virginia Tech’s students, 10,500 live on campus in a number of on-campus housing units with an array of amenities and styles, including residential colleges, living-learning communities, and more. Generally, it’ll cost less to live off campus, but it’s a good idea to do your research before you make a decision. Virginia Tech showcases off-campus housing opportunities through a marketplace-type search based on price and a roommate search.

Virginia Tech Acceptance Rate

Fall 2023

Number of Applications	Number Accepted	Percentage Accepted
47,208	26,909	57%

Of the 47,208 applicants who applied to Virginia Tech, 57% were accepted, meaning the school isn’t the most selective institution in the U.S., nor is it the least selective.

Admission Requirements

The admission requirements for Virginia Tech include the following:

Required:

• High school transcript with GPA

• High school record

• Personal statement or essay

Items considered:

• Completion of college preparatory program

• SAT/ACT

SAT and ACT Scores

Virginia Tech is test-optional, but the college will consider an applicant’s SAT or ACT scores if they send them. A total of 3,103 students sent their SAT scores, while 484 sent ACT scores to Virginia Tech.

Test	25th Percentile	75th Percentile
SAT Reading/Writing	620	700
SAT Math	620	720
ACT Composite	27	32
ACT English	25	33
ACT Math	35	31

Popular Majors at Virginia Tech

Which majors are most popular at Virginia Tech? Let’s take a look at the top 10.

1. Engineering

Engineering at Virginia Tech offers a wide spectrum of engineering disciplines to produce engineers ready to solve 21st-century issues. Many will study artificial intelligence, cybersecurity, and manufacturing, all the while helping graduates to become leaders after graduation.

Undergraduate degrees in 2023-24: 1,774

2. Business

Whether you want to major in accounting, information systems, business information technology, finance, hospitality and tourism management, management, marketing, or real estate, Virginia Tech emphasizes technological analysis that improves business, entrepreneurship, and learning and research opportunities in a collaborative environment.

Undergraduate degrees in 2023-24: 210

3. Social Sciences

Virginia Tech recognizes that technology alone cannot answer all questions, so the social sciences offers the benefits of a leading university combined with civic responsibilities. The humanities and social sciences at Virginia Tech create meaningful solutions to solve complex human challenges.

Undergraduate degrees in 2023-24: 679

4. Biological and Biomedical Sciences

Life sciences research explodes at Virginia Tech, seamlessly integrating world-class research and the challenges of the 21st century. From changes in global warming to the challenges of human disease, Virginia Tech develops students for the future by preparing them to tackle these major problems.

Undergraduate degrees in 2023-24: 657

5. Family and Consumer Sciences/Human Sciences

The family and consumer sciences department at Virginia Tech focuses on a wide variety of practical applications, whether your future goal involves working with the young, the elderly, or any other group. Virginia Tech shapes those who want to learn cutting-edge methods in the fields of adolescent development, aging, family studies, marriage and family therapy, disabilities, and more.

Undergraduate degrees in 2023-24: 557

6. Computer and Information Sciences

The computer and information sciences programs at Virginia Tech are ranked 29th in the nation and offer innovative teaching and research opportunities. Students can become leaders and researchers in divisions like computational biology and bioinformatics, data analytics, machine learning, software engineering systems, and more.

Undergraduate degrees in 2023-24: 526

7. Agricultural/Animal/Plant Science

Virginia Tech’s transformational, hands on experience in animal science gives graduates an opportunity at the largest animal program east of the Mississippi. Those interested in plant science at Virginia Tech prepare students for work in private and public sectors, and in plant breeding, biotechnology, and plant pathology. Students can also learn from top-notch faculty in molecular biology, biochemistry, plant genetics and breeding, and more.

Undergraduate degrees in 2023-24: 264

8. Psychology

Psychology at Virginia Tech teaches students a variety of disciplines: biology, education, health, business, sociology, marketing, engineering, and neuroscience. Psychology helps students understand behavior and conduct research that transforms lives.

Undergraduate degrees in 2023-24: 247

9. Communication and Journalism

Communication at Virginia Tech can teach students in a liberal arts setting how to engage, present, persuade, think critically, evaluate, and communicate. The school of communication offers a wide variety of majors, including advertising, communication, multimedia journalism, public relations, and sports media and analytics.

Undergraduate degrees in 2023-24: 225

10. Natural Resources and Conservation

Virginia Tech teaches students core skills revolving around community outreach, research, conservation, and sustainability through the natural resources and conservation department. The program teaches resource management through real-world experiences, professional skills, labs, internships, and research to prepare employees for the world’s challenges.

Undergraduate degrees in 2023-24: 200

Graduation Rate

Of Virginia Tech’s students who started in Fall 2015 and who began in Fall 2017:

• 68% began in Fall 2015 and graduated after four years.

• 69% began in Fall 2017 and graduated after four years.

• 87% began in Fall 2015 and graduated after six years.

• 86% began in Fall 2017 and graduated after six years.

Post-Graduation Median Earnings

Ten years after graduating from Virginia Tech, the median earnings of former students who received federal financial aid is $81,698. That’s right in line with the average of bachelor’s degree graduates nationwide, who earn a median salary of $80,236.

Bottom Line

Virginia Tech offers a plethora of options for students, and at just $15,948 tuition for in-state students, it can be incredibly affordable for Virginia residents. Look into options to help pay for college, from grants and scholarships to private student loans.

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

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

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Carnegie Mellon University Tuition and Fees

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Popular Majors at Carnegie Mellon University

1. Engineering

2. Computer Science

3. Business Administration and Management

4. Statistics

5. Information Systems

6. Drama and Theater Arts

7. Design and Visual Communications

8. Economics

9. Architecture

10. Artificial Intelligence

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