SoFi Blog

Already have a few “maybe” schools on your list? You can search for them by college name. There, you’ll get key data points such as a school’s selectivity, the cost of tuition, graduation rate, location, average SAT/ACT scores, and more.

Sticker Price vs. Net Price

What you see as the cost of tuition is often not what the average student ends up paying. The “sticker price” is the total cost of tuition, room and board, as well as other expenses, such as books and supplies. “Net price” is what most students actually pay after factoring in different types of financial aid.

Location and Setting

Searching by location in the college finder tool allows you to either select specific states or a mileage range from where you live. While some in-state schools may be more affordable, it’s not always the case and it might be helpful to search colleges further afield. (And, as you check out options in your state, be sure to search for grants and scholarships—most states offer financial aid programs for residents.)

Public or Private

Public schools receive government funding which can help keep tuition more affordable. But that doesn’t mean private schools are out of reach. Some private schools offer competitive institutional aid, including scholarships which can put the sticker price at or below public options.

You can also search by school size. Smaller programs may have a greater sense of community, more access to professors, and intimate class sizes. They also may have fewer program choices. Larger institutions likely have a wide range of majors and opportunities, but they may have a less personal feel on campus. Exploring different sized schools can help you hone in on your preference.

There are a range of state scholarships that are earmarked for residents of a certain state, or for students who go to college there. It’s worth searching both the state that you reside in and also, depending on where you are in your college process, exploring scholarships in states where you’re applying to schools. Be sure to understand any residency requirements before you apply.

Fields of Study

You may not know yet what you want to major in at college (and you’ll have plenty of time to figure it out), but if you know you’re interested in a certain field, you can search colleges by major through this feature. Some schools may have similar departments that could be a fit, and certain fields, such as medicine and law, require an additional graduate degree.

Selectivity

Selectivity—from most selective to not selective—refers to how competitive the admissions process may be. At a “moderately selective” school in SoFi’s college finder tool, for example, more than 75% of admitted freshmen were in the top 50% of their high school class and scored over a 1010 on their SAT or 18 on their ACT.

Graduation Rate

Graduation rate is the number of a school’s students who complete their degree in at least 150% of the time for the program—so within at least six years for a four-year program. It can be a helpful data point to measure the quality of a school.

Recommended: How College Financial Aid Works

A low graduation rate may mean that many students do not finish or transfer out to other programs. A high graduation rate may mean that there’s support available in the form of faculty and administration, who can help you stay on track to graduate.