SoFi Blog

Tips and news—
for your financial moves.

How Much Do You Need to Retire? Here’s the Truth

This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.

How much money will you need to save to retire comfortably?

It’s one of life’s big question marks, and over half of Americans worry they’ll outlive their savings, according to a recent survey from The Harris Poll and Northwestern Mutual.

Without a crystal ball, there’s no way of knowing for sure, no matter how diligently you’re socking money away. Your future health, the rate of inflation, and the stock market are just a few of the variables.

But you can increase the odds of a secure retirement by planning ahead. And there’s plenty you do know — about your lifestyle, your goals and how you’ll define “retirement.” Want to travel the world or stay close to home? Do you have a pension? Are you planning to downsize your home? Will you work part-time?

There’s no one way to estimate what you’ll need, especially with so many variables at play. But here are a few common rules of thumb to help:

1.    10 Times Your Salary: Save at least 10 times your salary by the time you retire. And there are benchmarks by age: By 30, you’ll want to have one year’s salary saved. By 40, 3x your salary. By 50, 6x. And by 60, 8x. Unfortunately, many getting closer to retirement age don’t have nearly enough, by this measure. According to the Northwestern Mutual survey, 52% of Gen Xers with retirement savings have just 3x their income or less — not even close to the 10x recommended by age 67.

2.    The 80% Rule: Save enough to have 80% of your pre-retirement income each year of your retirement. So if you earn $100,000 a year, that means having enough on hand to draw down about $80,000 a year in retirement. Why not 100%? Although healthcare and inflation may add to your expenses, the theory is that you’ll need less once you’re not saving for retirement, commuting to work, and so on. Of course, this rule doesn’t help you estimate a total figure.

3.    The 4% Rule: Estimate the amount you expect to spend in a typical retirement year and divide it by .04. For example, if you foresee $80,000 in expenses, you’ll need to save $2 million.

So what? There’s no magic retirement number or one-size-fits-all retirement plan. But there are smart habits that underscore every method of calculating: Save early, save often and give compound returns the best chance of building wealth by investing in a tax-advantaged retirement savings fund such as a 401(k) or IRA.

Related Reading

The 4% Rule for Retirement May Change: How Will This Affect Your Spending? (GOBankingRates)

How Many People Retire With $1 Million or More in Their Retirement Account? The Number Might Surprise You (Investopedia)

Retirement Quiz: Are You Prepared for Retirement? (SoFi)


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.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

OTM20250611SW

Read more

How to Handle the High Price of Parenthood

This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.

If you have kids, you know they’re not cheap.

A recent LendingTree study found the annual costs associated with raising a small child have jumped 36% to over $29,000 since 2023, due to a surge in the price of daycare, food and health insurance.

The entire ride — from birth through 17 — can cost a middle-income couple $320,000, according to inflation-adjusted government estimates. And that’s not including college, of course.

This financial lift has serious consequences. Many Americans cite the expense as a reason for not having any children, or having fewer of them. And 64% of parents report taking on debt to pay for their child-related expenses, in part because of pressure to overspend on them, according to LendingTree.

In fact, a recent Northwestern Mutual survey suggests it’s our youngest would-be parents that are most worried about the costs: 29% of Gen Z respondents — many of whom are in high school or just out of college — ranked kids as a major affordability challenge, compared with 16% of millennials, who are mostly in their 30s and early 40s.

For Gen Z, the expense of kids was their second-most common financial concern after buying a house, topping the cost of college or having enough for retirement.

The good news, no matter your generation? It is possible to spend less. Lower-income families spend less than half as much raising kids as upper-income families, according to the U.S. Department of Agriculture.

And there are many other variables too. Costs are lower in rural areas and as you have more kids. (The $320,000 estimate we mentioned is based on having two.)

So what? Throughout economic boom-and-bust cycles, savvy moms and dads have found ways to afford children. Some even manage to live on one income.

And if you’re feeling the first baby twinges, don’t give up on your dream of a family. While children introduce new costs, they also eliminate the need (and the desire) for other things you spend money on now.

There are many creative cost-saving solutions when you have kids. Here are just a few. (Find plenty more in our SoFi Guide to Financial Family Planning.)

•   Think outside the box on childcare: Staggering work schedules with a spouse can defray the costs of babysitting, as can home-based childcare providers. If it’s possible, grandparents are also a great go-to. Or maybe a responsible young adult in your life is trying to save money and would be happy to watch your kids in exchange for a free room.

•   Resist overspending out of guilt or peer pressure: Seventy-two percent of parents surveyed recently by Ameriprise Financial said they experienced parental guilt, and many said this led to spending beyond their budget. Of course you want to give your children the best life you can, but it’s important to set boundaries and show what can be accomplished with smart financial habits.

•   Forgo trappings for awhile. Bigger isn’t always better, at least where your budget is concerned. Some parents share a modest one-bedroom apartment or drive the same car for as long as possible.

•   Spend money on what really matters. Invest in the things that make a quality-of-life difference like sleep, nutrition, safety, and health. Rely on second-hand stores and Buy Nothing Facebook groups for wants and nice-to-haves.

•   Plan for the future. Set your family up for financial security, even if it’s with small contributions to a high-yield savings account or a 529 college savings plan. Creating a monthly family budget can help.

•   Take advantage of all child-related benefits. These can include tax credits, need-based health insurance subsidies and flexible work arrangements. (The Trump administration is reportedly considering a $5,000 “baby bonus” to incentivize people to have children.)

Related Reading

•   Summer Means New Clothes, Bikes, Strollers and More. How Will Tariffs Impact Parents? (USA Today)

•   A State-by-State Breakdown of Exactly How Much It Costs to Raise a Child (Parents)

•   Common Financial Mistakes First-Time Parents Make (SoFi)


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.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

OTM20250609SW

Read more

International Student Loans | SoFi



International Student Loans

Make your
college
dreams a
reality in the U.S.

You don’t have to pay higher
rates for student
loans just
because
you’re an international
student.
With a student loan
from SoFi,
you’re eligible for
the same rate as U.S. students.


View your rate

Terms and conditions apply. See https://sofi.com/eligibility-criteria for details.

Who’s eligible to apply for international student loans with SoFi?

To be eligible for an international student loan, you need to have:

  • A Social Security number (SSN) or
    Individual Tax
    Identification
    Number (ITIN)

  • A physical U.S. address

  • Current and valid immigration
    documentation


View your rate

Cosigner requirements for international student loans.

International students aren’t required to have a cosigner to qualify for a student loan from SoFi. However, we recommend borrowers apply with a qualified cosigner to increase their chances of being approved and/or receiving a more favorable rate.

Learn more about cosigners →

{/* Horizon Top */}


Why apply for a SoFi international student loan?

Rewards for good grades.1

If you have a SoFi Checking and Savings account, you can receive a Good Grades cash bonus for each term you maintain a 3.0 GPA or higher. Don’t have a SoFi Checking and Savings account? Signing up is quick and easy.

No prepayment penalties.

You shouldn’t have to pay extra for paying off your student loans early.There are no prepayment penalties with an international student loan from SoFi.

Competitive interest rates.

Easily earn rewards points* by checking your credit score and more. Then, redeem them toward your student loan.

No required fees.

International student loans from SoFi don’t have any origination or late fees.

Flexible repayment options.

Whether you want to start repayment right away or wait until after you finish school, you can choose the repayment plan that works best for you.

Extra member perks.

When you take out an international student loan through SoFi, you get member benefits access to all our, including experiences and events.

How to apply for SoFi international student loans:


  • Fill out our quick application.

    Provide a few pieces of basic information and invite a cosigner to the application, if you’re using one.

  • Choose your rate and repayment terms.

    Check out your rate options, loan terms, and estimated monthly payment.

  • Sign and accept your loans.

    If approved, sign your loans and wait for your school’s approval.


View your rate


Money tips for international students.







FAQs



Do international students qualify for federal financial aid?


Most international students aren’t eligible for federal financial aid unless they meet specific criteria. This is why many international students search for aid from private student loan lenders.




Do student who are studying outside of the United States qualify for international student loans?


No. SoFi doesn’ t offer loans for students to attend international schools. SoFi International Student Loans are for international students who are coming to the US to go to school.




Can I refinance my student loans as an international student?


While many refinancing companies require you to be a U.S. citizen or permanent resident to be eligible for student loan refinancing, some companies provide more flexibility, including SoFi. Learn more about how to refinance student loans as an international student.



How do I get a loan to study abroad as a U.S. citizen?


To qualify for a loan to study abroad as a U.S. citizen, you can apply for federal student loans if your study abroad program is approved by your home institution and eligible for federal aid. Alternatively, you can explore private student loans from lenders that offer financing for international education, ensuring the loan covers your chosen program and destination.




How do I repay international student loans ?


Repaying international student loans typically begins after you’re finished with school or once the grace period ends, depending on your loan terms. You can make payments through your loan servicer’s online portal, often using electronic transfers or international payment platforms if you’re outside the lending country. If you have an international loan through SoFi, you can make payments online.


Read more

University of Texas at Austin Tuition and Fees


University of Texas at Austin and Fees

University of Texas at Austin and Fees

On this page:

    By Kelly Boyer Sagert

    (Last Updated – 06/2025)

    The University of Texas at Austin (UT Austin), established in 1883, is a leading public research university located in the heart of Austin, Texas. Known for its academic excellence, UT Austin offers over 170 undergraduate and graduate programs across 19 colleges and schools, including the prestigious McCombs School of Business and Cockrell School of Engineering. The university serves more than 50,000 students and is renowned for its vibrant campus life, cutting-edge research, and strong athletic programs.

    Total Cost of Attendance

    The University of Texas at Austin tuition in 2024-25 for state residents was $11,688. This is slightly higher than the national average of $11,260 for in-state tuition at public universities. For residents of other states, UT Austin tuition was $44,908, which is significantly higher than the national average for out-of-state tuition of $29,150.

    Tuition, however, is only part of the total cost of attending college. Here’s a look at other expenses students can expect when attending the University of Texas at Austin.

    Costs for 2024-25

    Expense

    In-State

    Out-of-State

    Tuition & Fees

    $11,688

    $44,908

    Books & Supplies

    $724

    $724

    Room & Board (on campus)

    $14,828

    $14,828

    Other Expenses

    $5,206

    $5,206

    Total Cost of Attendance

    $32,446

    $65,666

    Financial Aid

    Around two-thirds (69%) of undergraduates receive some form of financial aid to help cover the UT Austin tuition and other costs. This may be scholarships, grants, or 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:

    •   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

    •   SoFi Scholarship Finder – Use our handy tool to streamline your search by award type, location, level of study and more.

    Private Student Loans

    Roughly a third (30%) of students tap student loans to help pay the University of Texas at Austin tuition and other costs: 29% take out federal loans and 2% get private student loans (with an average amount of $18,848).

    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.

    Recommended: Guide to Private Student Loans

    Projected 4-Year-Degree Price

    The University of Texas at Austin cost of attendance for four years — including tuition and fees, room and board, books, and other expenses — is $129,784 for in-state students (based on 2024-25 numbers). By comparison, the national average at public universities for in-state students is $115,360 for four years.

    For out-of-state residents, the four-year cost for attending UT Austin is $262,664. This is well above the national average of $186,920 for out-of-state cost of attendance.

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

    Repay student loans your way.

    Find the monthly
    payment & rate that fits your budget.

    Undergraduate Tuition and Fees

    Costs for 2024-25

    University of Texas at Austin undergraduate tuition and fees for the 2024-25 academic years were $11,688 for in-state students, a 0.1% increase over 2023-34. The tuition and fees for out-of-state students were $44,908, a 5.0% increase over 2023-34.

    Graduate Tuition and Fees

    Costs for 2024-25

    •   Average graduate tuition (in-state): $12,006

    •   Average graduate tuition (out-of-state): $22,954

    Tuition for graduate students at UT Austin for 2024-25 averaged $12,006 for in-state students and $22,954 for out-of-state students. The university does not charge any fees on top of graduate tuition. 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

    Assuming students take 12 credits per semester, the cost per credit hour at UT Austin is $452 for in-state students and $1,773 for out-of-state students.

    Campus Housing Expenses

    For students who wish to live on-campus, the university offers 15 residence halls. These include residential communities, apartments in West Campus, and University Apartments.

    Costs for 2024-25

    •   Housing and food expenses (on campus): $14,828

    •   Housing and food expenses (off campus): $14,964

    •   Other living expenses (on/off campus): $5,206

    Total living expenses for 2024-25 came to an estimated $20,034 for students who lived on campus and $20,170 for those who lived off campus.

    University of Texas at Austin Acceptance Rate

    Fall 2023

    Number of Applications

    Number Accepted

    Percentage Accepted

    66,109

    19,172

    29%

    The University of Texas at Austin acceptance rate is 29%, which makes the school very selective.

    Admission Requirements

    If you’re interested in applying to UT Austin as a Freshman, here’s what you’ll need to submit:

    •   Common App

    •   Non-refundable application fee of $75

    •   At least one essay and the required short answer prompts

    •   SAT and ACT official test scores

    •   High school transcripts and class rank

    Certain majors may require additional materials after you have submitted your application. You may also submit additional materials to strengthen your application, such as letters of recommendation or a resume.

    Important dates and deadlines to know:

    •   October 15: Early action application deadline

    •   October 23: Early action supplemental materials deadline

    •   December 1: Regular application deadline

    •   December 11: Regular supplemental materials deadline

    •   January 15: Early action decisions released

    •   February 15: All decision released

    •   March 1: Honors decisions released

    SAT and ACT Scores

    Here are the standardized test scores of students who enrolled in UT Austin in Fall 2023 at the 25th and 75th percentiles.

    Subject

    25th Percentile

    75th Percentile

    SAT Evidence-Based
    Reading/Writing

    620

    730

    SAT Math

    610

    760

    ACT Composite

    27

    33

    ACT English

    26

    35

    ACT Math

    25

    33

    Graduation Rate

    The majority of UT Austin 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: 73%

    •  6 years: 88%

    Post-Graduation Median Earnings

    On average, UT Austin graduates earn an annual salary of $87,000. 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

    UT Austin is a popular college pick due to its strong academic reputation, highly ranked programs, emphasis on research, and positive student experience. While in-state tuition comes in around the national average for public universities, out-of-state tuition is significantly higher than the average for public schools. Those who need help covering the UT Austin tuition and other costs 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.

    View your rate

    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.

    SOISL-Q225-087

    Read more

    University of Virginia (UVA) Tuition and Fees


    University of Virginia (UVA) Tuition and Fees

    University of Virginia (UVA) Tuition and Fees

    On this page:

      By Kelly Boyer Sagert

      (Last Updated – 06/2025)

      The University of Virginia (UVA), founded in 1819 by Thomas Jefferson, is a prestigious public research university located in Charlottesville. Known for its historic Jeffersonian architecture and strong commitment to student self-governance. UVA offers a wide range of undergraduate, graduate, and professional programs. It consistently ranks among the top public universities in the U.S.

      Total Cost of Attendance

      The University of Virginia tuition in 2024-25 for state residents was $21,803. This is significantly higher than the national average of $11,260 for in-state tuition at public universities. For residents of other states, UVA tuition was $59,512, which is well above the national average for out-of-state tuition of $29,150.

      Tuition, however, is only part of the total cost of attending college. Here’s a look at other expenses students can expect when attending the University of Virginia.

      Costs for 2024-25

      Student Type

      In-State

      Out-of-State

      Tuition & Fees

      $21,803

      $59,512

      Books & Supplies

      $1,480

      $1,480

      Room & Board (on campus)

      $14,800

      $14,800

      Other Expenses

      $3,720

      $3,720

      Total Cost of Attendance

      $41,803

      $79,512

      Financial Aid

      A large share of undergraduates (44%) receive some form of financial aid to help cover the UVA tuition and other costs. This may be scholarships, grants, or 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 and federal and school deadlines may differ.

      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

      •  SoFi Scholarship Finder – Use our handy tool to streamline your search by award type, location, level of study and more.

      Private Student Loans

      Many undergraduates tap student loans to help pay the University of Virginia tuition and other costs: 17% take out federal loans and 5% get private student loans (with an average amount of $18,848).

      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.

      Recommended: Guide to Private Student Loans

      Projected 4-Year-Degree Price

      The University of Virginia cost of attendance for four years — including tuition and fees, room and board, books, and other expenses — is $167,212 for in-state students (based on 2024-25 numbers). By comparison, the national average at public universities for in-state students is $115,360 for four years.

      For out-of-state residents, the four-year cost for attending UVA is $318,048. This is well above the national average of $186,920 for out-of-state cost of attendance.

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

      Repay student loans your way.

      Find the monthly
      payment & rate that fits your budget.

      Undergraduate Tuition and Fees

      Costs for 2024-25

      University of Virginia undergraduate tuition and fees for the 2024-25 academic years were $21,803 for in-state students, a 3.8% increase over 2023-34. The tuition and fees for out-of-state students were $59,512, a 2.6% over 2023-34.

      Graduate Tuition and Fees

      Costs for 2024-25

      •   Average graduate tuition (in-state): $19,884

      •   Fees (in-state): $3,642

      •   Average graduate tuition (out-of-state): $33,304

      •   Fees (out-of-state): $4,324

      Tuition and fees for graduate students at UVA for 2024-25 averaged $23,526 for in-state students and $37,628 for out-of-state students. 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

      If you attend UVA part time (less than 12 credit hours per semester), the cost per credit hour is $263 for Virginia residents and $1,075 for nonresidents.

      Campus Housing Expenses

      UVA offers a variety of living environments, including traditional residence halls, suites, and apartment complexes. They also offer opportunities to participate in specific living and learning programs, such as residential colleges, language immersion houses, and a transfer student-focused community.

      Costs for 2024-25

      •   Housing and food expenses (on/off campus): $14,800

      •   Other living expenses (on/off campus): $5,206

      Total living expenses for 2024-25 were estimated at $20,006, both for students who lived on campus as well as those who lived off campus.

      University of Virginia Acceptance Rate

      Fall 2023

      Number of Applications

      Number Accepted

      Percentage Accepted

      56,528

      9,610

      17%

      The University of Virginia acceptance rate is 17%, which makes the school extremely selective.

      Admission Requirements

      If you’re interested in applying to UVA as a First-Year (the term the school uses for freshman), here’s what you’ll need to submit:

      •   Common App

      •   Secondary school report

      •   One evaluation from an academic subject teacher

      •   Standardized test scores (optional)

      Students who exhibit exceptional talent in the arts may also submit an arts portfolio through the Common App via Slideroom.

      Important deadlines to know:

      •   November 1: Early decision deadline (with notification by December 15)

      •   November 1: Early action deadline (with notification by By February 15)

      •   January 5: Regular decision deadline (with notification by By April 1)

      SAT and ACT Scores

      Though submitting test scores is optional at UVA, 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 UVA in Fall 2023 at the 25th and 75th percentiles.

      Subject

      25th Percentile

      75th Percentile

      SAT Evidence-Based
      Reading/Writing

      700

      750

      SAT Math

      710

      780

      ACT Composite

      32

      34

      ACT English

      33

      35

      ACT Math

      29

      35

      Graduation Rate

      The vast majority of UVA 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: 92%

      •  6 years: 95%

      Post-Graduation Average Earnings

      On average, UVA graduates earn an annual salary of $87,000. 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

      The University of Virginia is a prestigious institution renowned for its academic excellence, cutting-edge research, and enriching student experience. Often referred to as one of the “public Ivies,” UVA delivers Ivy League-caliber education at a more accessible price, especially for in-state students.

      That said, UVA tuition and costs are well above national average for public universities, both for residents and nonresidents. Fortunately, those who need help covering the University of Virginia tuition and other costs 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.

      View Your Rate

      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.


      SOISL-Q225-088

      Read more
      TLS 1.2 Encrypted
      Equal Housing Lender