By Dan Miller

A 400 FICO® credit score is considered “poor,” meaning you may find it difficult to be approved for most credit and lending products. When you are approved for a loan or credit card, you’ll likely be charged a higher interest rate than someone with a better credit score.

Let’s take a closer look at what a 400 credit score means and what kinds of credit cards and loans you may be able to get.

What Does a 400 Credit Score Mean?

A credit score is a three-digit number that lenders use to determine how much risk you pose as a borrower. It’s calculated using information found in your credit reports, including your history of on-time payments, how much available credit you’re using, and the length of your credit history. When you apply for personal loans or any other types of credit, the prospective lender will likely use your credit score as one factor in deciding whether to approve your application.

FICO’s scoring model, which is used in the vast majority of lending decisions, categorizes its scores as follows:

•   Poor: 300 to 579

•   Fair: 580 to 669

•   Good: 670 to 739

•   Very Good: 740 to 799

•   Exceptional: 800 to 850

As you can see, a 400 credit score falls at the low end of the FICO® credit score range and is considered “poor.” A borrower with this score may have had issues paying back their debt or lack a credit history. According to Experian, 12.6% of U.S. consumers have credit scores in the poor range.

What Else Can You Get with a 400 Credit Score?

A 400 credit score is likely to negatively impact your ability to get just about any type of credit. Because it’s on the low end of possible credit scores, lenders may see you as a risky borrower.

Here’s how a 400 FICO Score can affect your chances of getting different types of credit:

Can I Get a Credit Card with a 400 Credit Score?

With a 400 credit score, you’re unlikely to be approved for nearly any type of credit card. Credit cards are typically unsecured forms of debt, meaning they’re not backed by a deposit or asset. Because of this, banks generally prefer cardholders with a higher credit score, as it suggests responsible credit usage.

But all is not lost. If you have a 400 credit score, you can apply for a secured credit card. It’s similar to an unsecured card except that you may be required to make a deposit equal to your credit limit. Another option is to be added as an authorized user on someone else’s credit card.

Can I Get an Auto Loan with a 400 Credit Score?

Though difficult, you might be able to qualify for an auto loan with a lower credit score, though you’ll likely pay substantially higher interest compared to the average borrower. As of December 2024, the average borrower with a 661-780 credit score paid an APR of 5.82% for a new car and 7.83% for a used car. An average borrower with a credit score between 300-500 paid an APR of 13.42% for a new car and 20.62% for a used car.

If you are unable to come up with the full amount of the car’s price, you may choose to look into buying your car from a private party or from a “buy here, pay here” dealer that keeps their auto financing in-house. These types of auto dealers often issue loans to people with poor credit scores as long as they have sufficient income and down payment. However, these loans usually come with some drawbacks, including significantly higher interest rates and fees.

Recommended: Smarter Ways to Get a Car Loan

Can I Get a Mortgage with a 400 Credit Score?

It will almost certainly be impossible to be approved for a conventional mortgage with a credit score of 400. Fannie Mae and Freddie Mac both require a minimum credit score of 620 for a fixed-rate mortgage, along with a minimum 3% down payment and strong debt-to-income ratio.

If you’re able to raise your credit score and strengthen your finances, an FHA loan may be more within reach. It has a minimum credit score of 500 with a 10% down payment.

Can I Get a Personal Loan with a 400 Credit Score?

You may be able to get a personal loan or credit card consolidation loan with a 400 credit score, but as with other types of loan products, your options will likely be limited. Many lenders have a minimum credit score that is above 400, so you may have a smaller choice of available lenders and programs. Additionally, you may be charged a higher interest rate than those with better credit scores. Check out our personal loan calculator to see what options might make sense for your specific situation.

Recommended: Everything You Need to Know About No Credit Check Loans

The Takeaway

FICO credit scores are one of the most popular types of credit scores currently used, ranging from 300 to 850. A 400 credit score is at the low end of the “Poor” range and may make it difficult for you to get approved for any lending products, including credit cards, mortgages and other types of loans. Even if you are approved, you will almost certainly be charged a higher interest rate than borrowers with better credit scores. That could make the cost of borrowing higher than is financially feasible, and it may make better sense to work on improving your credit score first.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

By Susan Guillory

(Last Updated – 01/2025)

Cornell University is a private, not-for-profit Ivy League research university located in Ithaca, New York. Degrees offered range from bachelor’s to doctorates. This post will guide you through Cornell tuition, admissions requirements, acceptance rate, financial aid statistics, popular majors, and more.

Total Cost of Attendance

Founded in 1865, Cornell University has a long list of “firsts”: It had the first professorships in the United States for American history, American literature, and musicology, and the first four-year schools for hotel administration and for industrial and labor relations. Cornell awarded students the first journalism degree, the first veterinary science degree, and much more.

Cornell University tuition for the 2023-24 academic year was $66,014. That’s up slightly from the year before, as you’ll see from these previous Cornell tuition figures:

•  2022-2023: $63,200

•  2021-2022: $61,015

•  2020-2021: $59,282

•  2019-2020: $57,222

Current on-campus room and board (2023-24): is $18,554 compared to:

•  2022-2023: $16,988

•  2021-2022: $16,396

•  2020-2021: $15,756

•  2019-2020: $15,246

For the 2022-2023 school year, additional expenses are:

•  Books and supplies: $1,354

•  Other expenses: $2,218

Total expenses, on campus, are $88,140, a 5.9% increase over the previous year.

Financial Aid

Cornell University is “need-blind” during the admissions process, which means that a student’s ability to pay is not considered as part of the acceptance process. This can help students from lower- and middle-income families who can’t otherwise afford the cost of Cornell.

In the 2022-23 academic year, 60% of full-time beginning undergraduates received some sort of financial aid. More specifically:

•   Grants or scholarship aid: 51% received these funds with the average award being $56,741

•   Federal grants: 19% received them with an average award of $7,540

•   Pell grants: 19% received them with an average award of $5,708

•   Other federal grants: 9% received them with an average award of $3,984

•   State or local: 14% received them with an average award of $3,557

•   Institutional: 55% received them with an average award of $55,091

•   Student loan aid: 29% received aid with an average award of $8,574

•   Federal student loans: 27% received aid with an average award of $4,122

•   Other student loans: 16% received aid with an average award of $8,260

Generally, financial aid is monetary assistance awarded to students based on personal need and 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:

Recommended: Scholarship Search – College Scholarships Finder Tool

•  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:

•  US Department of Education – Search for grants from colleges and universities by state

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

Recommended: The Differences Between Grants, Scholarships, and Loans

Private Student Loans

Sixteen percent of Cornell University students received “other” student loans (not federal) with an average amount of $8,260. Cornell provides information about private student loans but does not provide specifics.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-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 as it generally may have 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: Guide to Private Student Loans

Projected 4-Year-Degree Price

At the 2023-24 tuition of $66,014, four years at Cornell equals $264,056. This does not account for increases in tuition. Total expenses for a student are $88,140 annually. The average cost of attendance for a four-year private institution is currently $60,420, making Cornell 46% more expensive.

Here’s some New York Student Loan & Scholarship Information for you.

Undergraduate Tuition and Fees

Cornell University tuition for the 2023-24 academic year was $66,014 plus:

•  Books and supplies: $1,354

•  Other on-campus expenses: $2,218

Graduate Tuition and Fees

In the 2023-24 academic year, graduate-level tuition was $29,500 with fees of $585.

The average private, nonprofit graduate school cost is $15,100 per year, making Cornell University almost twice as expensive. There are graduate loans available to help with these costs.

Cost per Credit Hour

For the 2024-2025 academic year, those who want to earn college credit without enrolling in a degree program can study at Cornell part-time for a cost of $1,840 per credit hour.

Campus Housing Expenses

Cornell campus housing costs $18,544 in 2023-24. The university provides the names of neighborhoods to consider for apartment living, and the average rent for a one-bedroom apartment is $1,855. A two-bedroom apartment averages $2,082 per month and a studio apartment averages $1,671. It’s important to note that when renting an apartment, the lease will typically be for a full year instead of just the academic year.

Check out this resource to learn more about off-campus housing.

Cornell University Acceptance Rate

In fall 2023, 65,635 students applied, with 5,250 accepted. So the Cornell acceptance rate is 8%.

Admission Requirements

Along with an undergraduate application, Cornell University requires official transcripts, a counselor recommendation, two teacher recommendations, and a mid-year report. Cornell suspended SAT/ACT requirements through 2024-25, but will require scores to enroll for fall 2026 and beyond.

Deadlines for first-year students are November 1 for Early Decision and January 2 for Regular Decision. You can apply to Cornell University here .

SAT and ACT Scores

Cornell University is ending its policy of having no SAT/ACT requirements with the fall 2026 application process. For fall 2023, 37% of first-time undergraduates submitted SAT scores, while 12% submitted ACT scores. These are the 25th and 75th percentile scores:

Popular Majors at Cornell University

In the 2022-23 academic year, the university conferred 3,791 bachelor’s degrees in more than two dozen areas of study. Here are some of the most popular majors.

1. Computer Science

Undergraduates study programming languages, algorithms, logic, data structures, and more. Electives range from artificial intelligence to cryptography, scientific computers, and more.

Undergraduate degrees in 2022-23: 453

2. Hotel/Motel Administration

At Cornell, undergraduates receive a well-rounded education in hospitality that includes traditional coursework along with an immersive experience through hands-on learning opportunities.

Undergraduate degrees in 2022-23: 290

3. Labor and Industrial Relations

Cornell University has the country’s largest undergraduate program in this discipline, one that focuses on “people, policies and processes in organizations and the workplace.”

Undergraduate degrees in 2022-23: 273

4. Agricultural Economics

Over the decades, the focus of this degree has evolved just as real-world agriculture has with students now focusing on theory as well as participating in outreach opportunities to help solve real-world problems.

Undergraduate degrees in 2022-23: 251

5. Biology

Students can choose between the College of Agriculture and Life Sciences or the College of Arts and Sciences for this degree and select among fourteen different concentrations.

Undergraduate degrees in 2022-23: 243

6. Biomedical Sciences

Students receive a broad education, taught by professors who research cell and developmental biology, stem cell biology, reproductive biology, comparative pathology/physiology and more.

Undergraduate degrees in 2022-23: 174

7. Information Technology

This degree focuses on information systems engineering in the place where information science, management, and technology intersect. Additional classes range from statistics to economics.

Undergraduate degrees in 2022-23: 151

8. Mechanical Engineering

Students analyze the structure, dynamics, and control of mechanical systems while also studying computer aided design, vibrations, control systems, and more as well as fluids, energy, and heat transfer systems.

Undergraduate degrees in 2022-23: 132

9. Econometrics

In this field, students gain insights into econometric models and how theory can be translated into applications and frameworks for forecasting, measuring, testing, and more.

Undergraduate degrees in 2022-23: 124

10. Political Science/Government

A political science/government degree can prepare undergraduates for multiple career choices: from business to law or public service. Students receive a broad education while also participating in nuanced discussions.

Undergraduate degrees in 2022-23: 96

Learn more about the fields of study you can major in at Cornell here .

Graduation Rate

Cornell graduation rate for the fall 2017 cohort is follows:

•  6 years: 95%

Post-Graduation Median Earnings

Median earnings for Cornell graduates total $104,000. When compared to the national average of four-year educational institutions of $68,516, Cornell graduates’ earnings are 52% higher.