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By Dawn Papandrea |
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Comments Off on A $15 Allowance for a 5-Year-Old? See How You Stack Up
If you’ve got kids, the whole allowance thing can be tricky.
On the one hand, giving an allowance can be a worthwhile investment in your kids’ understanding and appreciation of money. It can teach them about saving, budgeting, and making choices — and provide a structured way to dole out spending money.
On the other hand, you may be wary of adding more focus on money. Plus, there’s the question of how much to pay and at what age to start.
According to a recent Wells Fargo/Ipsos survey, 43% of parents with children ages 5 to 17 regularly give an allowance, and another 28% give one occasionally. The median (aka most typical) amount per week is $15 for the youngest children and $20 or $25 for older age groups.
Sound like a lot? Remember, every family is different, and only you know what’s right for yours. But if you’ve been on the fence about starting an allowance, or just want a gut check on the one you already give, here are a few things to consider:
1. Choosing an amount: More than a quarter (28%) of parents in the Wells Fargo survey said they’re paying their kids $50 or more a week! But the old rule-of-thumb to give $1 for every year of the child’s age (eg. $5 for a 5-year-old) is a good baseline to consider.
2. Selecting a payment method: With younger kids, physical cash works best since they can see and count it. Later, you can transition to direct bank deposits or digital payments through Venmo, Apple Cash, or a debit card specifically for kids.
3. Deciding whether you’ll require chores. Personal finance influencer Dave Ramsay says you shouldn’t just hand your kids money with no strings attached. But other experts like Ron Lieber, a money columnist for The New York Times, say contributing to the household should be non-negotiable. If moms and dads aren’t paid for mowing the lawn or cooking dinner, then why should kids be paid to walk the dog? This school of thought separates allowance from chores. One is a tool for practicing money skills, the other a way of instilling a strong work ethic.
4. Deciding on raises: When will you give them? At birthdays? Or when the cost of living is noticeably higher? Nearly 3 in 10 parents in the Wells Fargo survey said they bumped their kids’ allowance in the past year due to inflation.
So what? An allowance can be a good way to instill healthy financial habits early. And the teaching-kids-about-money ball is often in parents’ court, considering it’s not yet a standard part of many school curriculums. (Ten states require a personal finance course in high school and another 19 are planning to.) If you go the allowance route, make it count. Here’s some inspiration for age-appropriate money lessons:
• Practice delayed gratification. Have kids save up for a special toy or video game.
• Try budgeting. Set up a jar or envelope system to divide payments into “save, spend, and give” so children learn how to allocate their money toward multiple goals.
• Understand the power of compound interest. Show kids how they can grow their money through vehicles like a high-yield savings or teen brokerage account.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
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Oregon State University (OSU) is a well-respected public research university located in Corvallis. Known for its strong programs in engineering, environmental sciences, forestry, and marine biology, Oregon State serves over 32,000 undergraduate students across diverse fields. It is a land-, sea-, and sun-grant institution, which reflects its commitment to research and outreach across multiple areas. With a focus on sustainability and research, OSU plays an important role in regional development and global problem-solving.
Total Cost of Attendance
The Oregon State University tuition in 2024-25 for state residents was $14,400. This is higher than the national average of $11,610 for in-state tuition at public universities. For residents of other states, Oregon State tuition was $38,190, which is above the national average for out-of-state tuition of $30,780.
Tuition, however, is only part of the total cost of attending college. Here’s a look at other expenses students can expect when attending Oregon State.
Costs for 2024-25
Expense
In-State
Out-of-State
Tuition & Fees
$14,400
$38,190
Books & Supplies
$600
$600
Room & Board (on campus)
$16,386
$16,386
Other Expenses
$3,492
$3,492
Total Cost of Attendance
$34,878
$58,668
Financial Aid
The vast majority of OSU students (92%) use financial aid to help cover the tuition and other costs. This may be student loans, scholarships, or grants, or a combination of these.
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, and 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, or financial need.
• Grants: Generally based on financial need, these can come from federal, state, private, or nonprofit 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 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, federal, and school deadlines may differ.
You can find other financial aid opportunities on databases such as:
A large share of students (33%) tap student loans to help pay Ohio State’s tuition and other costs: 32% take out federal loans, and 6% get private student loans (with an average amount of $20,904).
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, compared to federal student loans, which you don’t have to start paying 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, since 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.
The Oregon State University cost of attendance for four years — including tuition and fees, room and board, books, and other expenses — is $139,512 for in-state students (based on 2024-25 numbers). By comparison, the national average at public universities for in-state students is $119,640 for four years.
For out-of-state residents, the four-year cost for attending Oregon State is $234,672. This is higher than the national average of $196,320 for out-of-state cost of attendance.
Oregon State’s undergraduate tuition and fees for the 2024-25 academic year were $14,400 for in-state students, a 6.7% increase over 2023-24. The tuition and fees for out-of-state students were $38,190, a 7.1% increase over 2023-24.
Graduate Tuition and Fees
Costs for 2024-25
Expense
In-State
Out-of-State
Tuition
$13,716
$30,861
Fees
$2,490
$2,490
Tuition and fees for graduate students at Oregon State for 2024-25 averaged $16,206 for in-state students and $33,351 for out-of-state students. This is a good deal for residents: The average cost of graduate school tuition and fees in the U.S. is $22,430 per year.
There are graduate loans available to help with these costs.
Cost per Credit Hour
The cost per credit hour at Oregon State is approximately $400 for Oregon residents and $1,061 for nonresidents.
Campus Housing Expenses
The campus offers 15 residence halls, along with three on-campus apartment complexes (for students who are in their second year and above). All first-year students are required to live on campus, unless they are exempted or living with family.
Costs for 2024-25
• Housing and food expenses (on campus): $16,386
• Housing and food expenses (off campus):$16,386
• Other living expenses: $3,492
Total living expenses for 2024-25 came to an estimated $19,878 for students who lived on or off campus.
Oregon State University Acceptance Rate
Fall 2023
Number of Applications
29,025
Number Accepted
22,930
Percentage Accepted
79%
Oregon State University is lightly selective, with an acceptance rate of 79%.
Admission Requirements
Oregon State University has a holistic admissions process that considers the various skills and achievements of each applicant. As part of their review, they look at:
• Your high school grades, courses taken, and rigor of coursework
• Grades in any college or dual-credit courses
• Information provided in your personal statement on the application
• Your responses to application essay prompts
• Experiences and diverse perspectives that you may share with our campus
• Special talents and achievements
Test scores and letters of recommendation are optional but may be submitted.
You can apply to Oregon State using the OSU application or the Common App.
Application deadlines:
• Early action: November 1
• Priority application: February 3 (after this date, admission and scholarships are awarded on a space and funds available basis).
SAT and ACT Scores
Oregon State is test-optional. SAT or ACT scores, if submitted, are considered in context and only as supplemental information. The university does not publish the average SAT or ACT scores of admitted students who did choose to submit their scores.
Popular Majors at Oregon State University
Students at OSU can choose from more than 100 undergraduate degree programs. Here’s a look at 10 of of the most popular areas of study:
1. Computer Science
Computer science (CS) is the study of algorithms and problem solving. CS majors learn how to craft artificial intelligences, analyze medical data, create robots, mine web traffic, combat cybercrime, and much more.
Undergraduate degrees in 2023-24: 911
2. Business Administration
The business administration program provides a broad overview of business, including basic skills in accounting and quantitative methods, an understanding of the legal and social environment of business, and a background in management and organizational behavior.
Undergraduate degrees in 2023-24: 361
3. Psychology
Psychological majors can earn a B.A. or B.S. degree in Psychology. Some graduates go straight into the workforce in areas such as human resources and human services; others continue their education in psychology or other fields (including law, medicine, business, and public administration).
Undergraduate degrees in 2023-24: 338
4. Mechanical Engineering
Mechanical engineering majors learn how to design, develop, and improve devices, products, processes, and systems. Students can specialize in certain areas, such as design, mechanics materials, robotics, and wave energy.
Undergraduate degrees in 2023-24: 272
5. Kinesiology
Kinesiology majors focus on physical activity and its effect on human health, disease prevention, and quality of life. Graduates are prepared for professional certifications in fitness and conditioning, as well as graduate study in the field.
Undergraduate degrees in 2023-24: 223
6. Biology
Biology majors focus on the study of living organisms, including their structure, function, growth, origin, and evolution. Many students use this major as a foundation for graduate study in medicine, veterinary medicine, and other health professions.
Undergraduate degrees in 2023-24: 200
7. Human Development and Family Sciences
Students who major in human development and family sciences (HDFS) explore how individuals develop and become resilient over time, especially within the contexts of family, school, work and society. An HDFS degree can lead to professional work or graduate study in fields such as education, HDFS, social work, or public administration.
Undergraduate degrees in 2023-24: 169
8. Electrical and Computer Engineering
Students majoring in electrical and computer engineering (ECE) study computer systems, electronic materials, integrated circuits, robotics, and more. The program offers hands-on learning in which students get to apply their knowledge of electrical and computer engineering to create their own robot.
Undergraduate degrees in 2023-24: 113
9. Finance
The finance program is designed to prepare students for careers in banking, brokerage, insurance, and other fields. Finance majors learn how to apply the fundamental concepts and tools of finance, evaluate the corporate governance structure of firms, and understand capital markets, among other topics.
Undergraduate degrees in 2023-24: 102
10. Marketing
Marketing majors learn both technical marketing skills and leadership training. Career options include sales, advertising, retailing, brand management, market research, purchasing management, and more.
Undergraduate degrees in 2023-24: 96
Graduation Rate
While many Oregon State students complete their degree in four years, some take longer. Here are the graduation rates for students who began at the school in 2017.
• 4 years: 47%
• 6 years: 71%
Post-Graduation Median Earnings
The average annual salary for Oregon State graduates is $84,000. This is higher than the average projected starting salary for the class of 2025 at the bachelor’s degree level, which is $68,680.
Bottom Line
Oregon State University is known for its quality education and strong programs in a range of fields. The school’s research facilities and connections with various industries also provide opportunities for students to gain hands-on experiences and work on real-world projects.
While tuition runs somewhat higher than the national average for public universities, those who need help covering the OSU cost of attendance may qualify for financial assistance in the form of 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.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Princeton University, located in Princeton, New Jersey, is a prestigious Ivy League institution founded in 1746. Known for its rigorous academics, world-class faculty, and generous financial aid, it offers undergraduate and graduate programs across disciplines like engineering, humanities, and public policy. With a strong emphasis on research and independent study, Princeton fosters intellectual curiosity and leadership in a close-knit, collaborative campus environment.
Total Cost of Attendance
The total cost of attendance at Princeton University in 2024-25 was $86,988, which is significantly higher than the national average of $62,990 at private colleges.
Here’s a look at how those costs break down:
Costs for 2024-25
Tuition & Fees
$62,688
Books & Supplies
$1,050
Room & Board (On-Campus)
$20,250
Other Expenses
$3,000
Total Cost of Attendance
$86,988
Financial Aid
More than half of undergraduates at Princeton (61%) use financial aid to help cover the tuition and other costs. This may be scholarships, grants, student loans, or a combination of these.
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, and 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, or financial need.
• Grants: Generally based on financial need, these can come from federal, state, private, or nonprofit 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 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, federal, and school deadlines may differ.
You can find other financial aid opportunities on databases such as:
A large share of students (44%) take out student loans to help cover Pepperdine tuition and other costs: 42% take out federal loans, and 10% get private student loans (with an average amount of $17,344).
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, compared to federal student loans, which you don’t have to start paying 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, since 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.
The total cost to attend Princeton University for four years — including tuition and fees, room and board, books, and other expenses — is $347,952 (based on 2024-25 numbers). This is higher than the national average of $251,960 for four years at a private university.
Princeton University undergraduate tuition and fees for 2024-25 were $62,688, which represents a 5% increase over 2023-24.
Graduate Tuition and Fees
Costs for 2024-25
• Average tuition: $62,400
• Fees: $3,536
Tuition and fees for graduate students at Princeton for 2024-25 averaged $65,936. This is substantially higher than the average cost of graduate school tuition and fees in the U.S., which is $22,430 per year.
There are graduate loans available to help with these costs.
Cost per Credit Hour
The cost per credit at Princeton ranges from $2,090 to $2,612, depending on how many credits you take per semester.
Campus Housing Expenses
Princeton offers seven residential colleges, where students live, eat, study, and socialize. All first-year students and sophomores must live and dine in a residential college.
Costs for 2024-25
• Housing and food expenses (on campus): $20,250
• Other living expenses (on campus): $3,000
Total living expenses for the 2024-25 academic year were estimated at $23,250.
Princeton Acceptance Rate
Fall 2023
Number of Applications
Number Accepted
Percentage Accepted
39,644
1,586
4%
The Princeton University acceptance rate is 4%, which makes the school extremely selective.
Admission Requirements
To apply to Princeton as a first-year student, you’ll need to submit:
• The Common App (including Princeton-specific questions)
• Official high school transcripts (sent by your school counselor)
• School Report (submitted by your counselor through the Common App site)
• Counselor recommendation
• Two teacher recommendations
• Midyear school report (submitted by your counselor when your midyear grades are available)
• A graded written paper, preferably in English or history
• SAT/ACT scores (optional)
Application deadlines:
• Early Action: November 1 (with decisions by mid-December)
• Regular Decision: January 1 (with decisions by late March)
SAT and ACT Scores
Though submitting test scores is currently optional at Princeton, it can be helpful to know the average scores of other students who chose to submit their scores.
Here are the standardized test scores of students who enrolled in Fall 2023 at the 25th and 75th percentiles.
Subject
25th Percentile
75th Percentile
SAT Evidence-Based Reading/Writing
740
780
SAT Math
760
800
ACT Composite
34
35
ACT English
35
36
ACT Math
32
35
Popular Majors at Princeton University
Students apply to Princeton University, not to individual departments, programs or schools. Once enrolled, you may pursue either a Bachelor of Arts or Bachelor of Science in Engineering. Within these programs, you can choose from among 37 majors and over 50 minors and interdepartmental certificate programs.
Here are some of the most popular areas of study at the school:
1. Computer Science
Computer science majors focus on the theoretical foundations and practical applications of computing. They study algorithms, data structures, programming languages, and hardware/software systems, while also exploring specialized areas like artificial intelligence, machine learning, and security.
Undergraduate degrees in 2023-24: 201
2. Economics
Economics majors delve into individual markets, the aggregate economy, and the influence of government policies on various topics, including supply and demand, price controls, interest rates, and international trade.
Undergraduate degrees in 2023-24: 132
3. Public Policy
This is a multidisciplinary major for undergraduates seeking to go into public service and become leaders in the world of public or international affairs. They study policymaking, policy analysis, policy evaluation, and economics, among other subjects.
Undergraduate degrees in 2023-24: 114
4. Operations Research and Financial Engineering
This major combines coursework in science, math, computing, and technology to provide a strong intellectual foundation for a variety of careers. Students can design a program based on their particular interests and goals.
Undergraduate degrees in 2023-24: 77
5. History
History majors delve into a broad range of historical periods and regions. They learn how to analyze historical events critically, conduct original research, and formulate compelling arguments about the past and its impact on the present and future.
Undergraduate degrees in 2023-24: 72
6. Politics
The politics program focuses on four key areas: American politics, comparative politics, international relations, and political theory. Students also take coursework in quantitative analysis, political economy, and strategy in politics.
Undergraduate degrees in 2023-24: 57
7. Molecular Biology
Students who major in molecular biology study the fundamental building blocks of life at the molecular and cellular level. They explore how these components are constructed, how they interact, and how they respond to internal and external changes.
Undergraduate degrees in 2023-24: 52
8. Psychology
Psychology majors delve into the science of behavior and mental processes, exploring topics like sensation, perception, cognition, and social interaction. The program also emphasizes research methods and statistics, and prepares students for careers or further study in various psychology-related fields.
Undergraduate degrees in 2023-24: 50
9. Mechanical and Aerospace Engineering
This program focuses on the fundamental principles of mechanics and their application to both mechanical and aerospace systems. Students study areas like fluid mechanics, thermodynamics, materials science, dynamics, and control systems, with a strong emphasis on design, manufacturing, and research.
Undergraduate degrees in 2023-24: 45
10. Mathematics
Mathematics is a rigorous program that covers a broad range of mathematical concepts and applications, with a strong emphasis on foundational theory and mathematical proofs. Students study core areas like real and complex analysis, algebra, and geometry/topology.
Undergraduate degrees in 2023-24: 38
Graduation Rate
The vast majority of Princeton students complete their degree in four years. But some students take longer. Here are the graduation rates for students who began at the school in 2017.
• 4 years: 80%
• 6 years: 97%
Post-Graduation Average Earnings
The average annual salary for Princeton University graduates is $101,000. This is significantly higher than the average projected starting salary for the class of 2025 at the bachelor’s degree level, which is $68,680.
Bottom Line
Princeton is consistently ranked among the top universities globally, known for its strong academics, research opportunities, and prestige. While the cost of attendance runs on the higher end for private schools, those who need help covering Princeton tuition may qualify for financial assistance in the form of 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.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Pepperdine University is a private Christian university located in Malibu, California. Founded in 1937, it offers a range of undergraduate and graduate programs through its six schools. Known for its stunning coastal campus and emphasis on academic excellence, leadership, and Christian values, Pepperdine fosters a strong sense of community. The university is also recognized for its programs in business, law, education, psychology, and public policy.
Total Cost of Attendance
The total cost of attendance at Pepperdine University in 2024-25 was $95,168, which is significantly higher than the national average of $62,990 at private colleges.
Here’s a look at how those costs break down:
Costs for 2024-25
Tuition & Fees
$69,918
Books & Supplies
$1,000
Room & Board (On-Campus)
$21,750
Other Expenses
$2,500
Total Cost of Attendance
$95,168
Financial Aid
The vast majority of undergraduates at Pepperdine (92%) use financial aid to help cover the tuition and other costs. This may be scholarships, grants, student loans, or a combination of these.
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, and 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, or financial need.
• Grants: Generally based on financial need, these can come from federal, state, private, or nonprofit 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 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, federal, and school deadlines may differ.
You can find other financial aid opportunities on databases such as:
A large share of students (44%) take out student loans to help cover Pepperdine tuition and other costs: 42% take out federal loans, and 10% get private student loans (with an average amount of $17,344).
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, compared to federal student loans, which you don’t have to start paying 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, since 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.
The total cost to attend Pepperdine University for four years — including tuition and fees, room and board, books, and other expenses — is $380,672 (based on 2024-25 numbers). This is much higher than the national average of $251,960 for four years at a private university.
Pepperdine University undergraduate tuition and fees for 2024-25 were $69,918, which represents a 4.8% increase over 2023-24.
Graduate Tuition and Fees
Costs for 2024-25
• Average tuition: $43,400
• Fees: $656
Tuition and fees for graduate students at Pepperdine for 2024-25 averaged $44,056. This is substantially higher than the average cost of graduate school tuition and fees in the U.S., which is $22,430 per year.
There are graduate loans available to help with these costs.
Cost per Credit Hour
The cost per credit at Pepperdine is $2,255 for undergraduate students.
Campus Housing Expenses
Pepperdine offers residence halls and apartments on its Malibu campus. All new first-year and transfer students are required to live on campus. Other students may choose to live on or off campus.
Costs for 2024-25
• Housing and food expenses (on campus): $21,750
• Other living expenses (on campus): $2,500
• Housing and food expenses (off campus): $22,500
• Other living expenses (off campus): $3,000
Total living expenses for the 2024-25 academic year were estimated at $24,250 for students living on campus and $25,500 for those living off campus.
Pepperdine Acceptance Rate
Fall 2023
Number of Applications
Number Accepted
Percentage Accepted
12,457
6,229
50%
The Pepperdine University acceptance rate is 50%, which makes the school somewhat selective.
Admission Requirements
To apply to Pepperdine as a first-year student, you’ll need to submit:
• The Common App
• Official high school transcripts
• Academic letter of recommendation from a core subject (math, science, English, history, foreign language, religion) teacher or counselor who is familiar with your academic standing.
• SAT/ACT/CLT scores (optional)
First-year students applying for fall also have the option to sign up for an admission interview as part of the application evaluation process, but an interview is not required.
Application deadlines:
• Early Action and Early Decision: November 1 (with decisions sent on January 10)
• Regular Decision: January 15 (with decisions sent on April 1)
SAT and ACT Scores
Though submitting test scores is optional at Pepperdine, it can be helpful to know the average scores of other students who chose to submit their scores.
Here are the standardized test scores of students who enrolled in Fall 2023 at the 25th and 75th percentiles.
Subject
25th Percentile
75th Percentile
SAT Evidence-Based Reading/Writing
630
710
SAT Math
620
740
ACT Composite
26
33
ACT English
26
34
ACT Math
26
30
Popular Majors at Pepperdine University
Pepperdine offers over 46 majors and 47 minors to choose from within eight, interdisciplinary academic divisions of liberal arts and business programs. Here are some of the most popular areas of study:
1. Business Administration
The B.S. in business administration program prepares students for careers in accounting, business, or management, as well as graduate studies in business administration.
Undergraduate degrees in 2023-24: 186
2. Psychology
Psychology majors study human behavior and mental life using scientific methodologies. They explore core psychological principles, research methods, and diverse areas like biopsychology, clinical psychology, and social psychology.
Undergraduate degrees in 2023-24: 89
3. Public Relations
The public relations program teaches students to write, plan, and build relationships between organizations and the public. Graduates pursue careers in everything from event planning and strategic writing to digital/social media.
Undergraduate degrees in 2023-24: 51
4. Biology
The biology program offers opportunities for experiential learning through hands-on research, small labs, and instructor-led lectures and labs. Students are also encouraged to take advantage of the school’s summer research program, as well as the honors program in biology.
Undergraduate degrees in 2023-24: 49
5. Political Science and Government
Political science majors study governments and the governing process. They analyze and contextualize political events and issues, as well as identify opportunities for civic engagement and participation in political processes.
Undergraduate degrees in 2023-24: 38
6. Sports Medicine
The sports medicine major focuses on the prevention, diagnosis, treatment, and rehabilitation of sports-related injuries. Students study exercise science, anatomy, physiology, kinesiology, and more, preparing them for careers in applied or clinical health professions or for graduate work in related fields.
Undergraduate degrees in 2023-24: 31
7. Advertising
The advertising program exposes students to a wide range of subjects, including creative copywriting, multimedia design, digital and nondigital media planning and buying, consumer behavior research, and advertising strategy.
Undergraduate degrees in 2023-24: 22
8. Finance
Finance majors not only learn about the mechanics of finance but also how finance can improve society. The program prepares students for graduate studies in finance, as well as careers in consulting, investment advising, regulation compliance, and banking.
Undergraduate degrees in 2023-24: 20
9. Computer Science/Mathematics
Computer science/math majors study a combination of computer science and mathematics principles. The program aims to equip students with the analytical and computational skills needed for careers in research or industry, or further study.
Undergraduate degrees in 2023-24: 16
10. Communication Studies
The communication studies program examines the role of verbal and nonverbal communication in human relationships. Students learn to apply communication theories and concepts to real-world situations, including interpersonal, organizational, and mediated communication.
Undergraduate degrees in 2023-24: 16
Graduation Rate
The vast majority of Pepperdine students complete their degree in four years. But some students take longer. Here are the graduation rates for students who began at the school in 2017.
• 4 years: 75%
• 6 years: 85%
Post-Graduation Median Earnings
The average annual salary for Pepperdine University graduates is $85,000. This is higher than the average projected starting salary for the class of 2025 at the bachelor’s degree level, which is $68,680.
Bottom Line
Pepperdine University is consistently recognized among the top-ranked universities in California. The school is known for its strong academic programs and focus on developing leaders through a combination of intellectual pursuits, spiritual exploration, and commitment to service.
While the cost of attendance is on the higher end, most Pepperdine undergraduates receive some sort of financial aid, including need-based grants, merit scholarships, and 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.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
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North Carolina State University, often referred to as NC State, is a public land-grant research university located in Raleigh, North Carolina. Founded in 1887, it has grown to become one of the largest universities in the state and a leader in science, technology, engineering, and mathematics (STEM) education.
The university offers degrees ranging from associate to doctoral. Read on to learn about NC State admissions and acceptance rates, NC State tuition, popular majors, and more.
Total Cost of Attendance
Costs for 2024-25
Expenses
In-State
Out-of-State
Tuition & Fees
$8,799
$32,847
Books & Supplies
$876
$876
Room & Board
$14,332
$14,332
Other Expenses
$3,230
$3,230
Total Cost of Attendance
$27,237
$51,285
In the United States, the average public four-year in-state cost of attendance was $28,840, while public four-year out-of-state cost of attendance was $46,730.
Financial Aid
In the 2022-23 academic year, 68% of first-time, full-time undergraduates received some type of aid. More specifically:
• Grant or scholarship aid: 50% received these funds with the average amount being $11,811
• Federal grants: 18% received these funds with the average amount being $5,678
• Pell grants: 18% received these funds with the average amount being $5,443
• Other federal grants: 43% received these funds with the average amount being $845
• Student loan aid: 41% received these funds with the average amount being $7,609
• Federal student loans: 40% received these funds with the average amount being $5,105
• Other student loans: 7% received these funds with the average amount being $16,558
Generally, financial aid is monetary assistance awarded to students based on personal need or merit. Students that 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, and 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, or financial need.
• Grants: Generally based on financial need, these can come from federal, state, private, or nonprofit 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 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 on databases such as:
At NCSU, 7% of students in 2022-23 received private student loan funding and the university offers guidance on how to apply for them.
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.
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 throughout 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.
Using the 2024-25 NC rates, in-state total cost for four years would equal $108,948 without tuition increases. Out-of-state total cost would equal $205,140 over four years without tuition increases.
The national average cost of attendance for public in-state colleges for four years is $115,360.
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For in-state students at a four-year public university, tuition and fees averaged $11,260, making North Carolina State lower than the national average. For out-of-state students, the cost averaged $29,150.
Graduate Tuition and Fees
Costs for 2024-25
Expenses
In-State
Out-of-State
Tuition
$9,837
$30,610
Fees
$2,264
$2,264
Total Graduate Costs
$12,101
$32,874
Assuming a two-year program, a master’s degree from North Carolina State would cost $24,202 for in-state students and $65,748 for out-of-state students.
Students can obtain graduate loans to help with the costs.
Cost per Credit Hour
Students attending NCSU pay per credit, and the cost varies by program. The standard rate for in-state undergraduates starts at $272.29 for one credit hour and $1,312.50 for one credit hour for out-of-state students. Tuition and fees are capped at 12 hours.
Campus Housing Expenses
Costs for 2024-25
Expenses
On-Campus Costs
Off-Campus Costs
Room & Board
$14,332
$735+/month*
Other Expenses
$3,230
$3,230
Total Expenses
$17,562
Variable
*Monthly rent is variable, as it will depend on your location, unit, and whether or not you split the cost with roommates.
North Carolina State has 21 residence halls of different styles, including traditional hall-style buildings, suite-style buildings, university towers, and hotel-style buildings.
NCSU offers off-campus housing, too, though some students opt to find their own accommodations. Off-campus housing is variable depending on location and roommates, but typically starts at $735 per month.
North Carolina State University Acceptance Rate
Fall 2023
Number of Applicants
Number Accepted
Percentage Accepted
40,049
16,020
40%
Admission Requirements
Students can apply online, selecting up to two majors. SAT and ACT test scores are optional in 2024-25. Applicants should complete an essay and answer short questions, and send in their transcripts. During the NC State admissions process, the university will look for academic accomplishments, extracurricular achievements, background information, and individual stories.
Fall deadlines for NC State admissions are listed on the website as follows:
• Early Action: November 1 of the year before admissions
• Regular Decision: January 15 of the academic year
SAT and ACT Scores
NC State is test-optional in the 2024-25 academic year. Of the students who enrolled in Fall 2023 and submitted scores, 21% submitted SAT scores and 28% submitted ACT scores with the following 25th and 75th percentiles:
Subject
25th Percentile
75th Percentile
SAT Evidence-Based Reading/Writing
640
720
SAT Math
660
740
ACT Composite
28
32
ACT English
26
33
ACT Math
26
31
Popular Majors at North Carolina State
In 2023-24, 6,397 undergraduates received their degrees. Here are some of the most popular majors.
1. Business Administration
Students learn how to run businesses, discovering how components work together for success. Undergraduates learn both business strategy and operational functions.
Undergraduate degrees in 2023-24: 918
2. Biology
Undergraduates start with a foundational focus on biological cell structures, organisms, and more, before choosing courses that dovetail with more specific interests.
Undergraduate degrees in 2023-24: 436
3. Psychology
Psychology majors learn about theories and how they’re applied — and the associated real-life impacts. Undergraduates study human development, mental health challenges, stress-related issues, and more.
Undergraduate degrees in 2023-24: 296
4.Computer Science
Students learn how to design, implement, and test computer systems with a focus on programming languages, software engineering, data structures, security issues, and more.
Undergraduate degrees in 2023-24: 287
5. Mechanical Engineering
Students develop and design everything from autonomous vehicles to manufacturing methods, and from robots and satellites to innovative engineering tools and more in this program.
Undergraduate degrees in 2023-24: 250
6. Animal Sciences
Students pick from three concentrations: veterinary bioscience, science, and industry. The science program is created for those who plan further study in physiology, genetics, nutrition, and similar disciplines.
Undergraduate degrees in 2023-24: 205
7. Speech Communication
Undergraduates learn about, test, and improve interpersonal communication skills as preparation for a professional career in media, business, non-profit agencies, and more.
Undergraduate degrees in 2023-24: 197
8. Textile Engineering
In this interdisciplinary program, students learn a variety of engineering and scientific principles. They work on projects that can range from designing personal protective equipment to artificial arteries.
Undergraduate degrees in 2023-24: 192
9. Political Science
This program appeals to students interested in public and nonprofit sector careers, and justice and the law. Undergraduates can choose to pursue a broad scope of education or a more niche program.
Undergraduate degrees in 2023-24: 177
10. Electrical Engineering
Undergraduates receive a strong education in mathematics and sciences along with a focus on electric circuit theory, electromagnetics, digital logic, computer systems, and much more.
Undergraduate degrees in 2023-24: 136
Graduation Rate
Using data from students starting in Fall 2017, graduation rates are as follows:
• 4-year: 68%
• 6-year: 85%
Post-Graduation Median Earnings
Median earnings of a NC State graduate is $68,758 compared to the national median of $80,236. This makes NC graduate earnings less than the average.
Bottom Line
North Carolina State University provides students with a quality education at a good value, and nearly one in every two applicants is accepted. NC State tuition is competitively priced, and half of incoming first-time students receive scholarships or grants to help pay for college.
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.
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.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.