Tulane University Tuition Costs and Fees
Tulane University Tuition and Fees
(Last Updated – 02/2025)
It may be located in the party capital of New Orleans, but Tulane University provides a serious education. Tulane ranks among the top 2% of U.S. universities for research, and it’s rated as one of the best universities in the South. With small class sizes and five schools of study, Tulane has a lot to offer prospective students. Here’s an overview of Tulane tuition and other costs, as well as the Tulane acceptance rate.
Total Cost of Attendance
Costs for 2023-2024
• Tuition & Fees: $65,538
• Books & Supplies: $1,200
• Room & Board: $18,088
• Other Expenses: $2,620
• Total Cost of Attendance: $87,446
Financial Aid
To help cover the cost of Tulane tuition, 64% of students use one or more forms of financial aid. This may be student loans, scholarships, or grants, or a combination of these different types of aid.
Tulane is need-blind, which means that a student’s ability (or inability) to pay for their education doesn’t impact their chances of acceptance.
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 non-profit organizations.
• Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.
• Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than 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.
Recommended: Louisiana Student Loans & Scholarships
Private Student Loans
To help cover the cost of Tulane tuition, 23% of students got federal student loans; 3% took out private student loans, averaging $36,426.
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 cost to attend Tulane University for four years, including tuition and fees, room and board, books, and other expenses, would be $349,784 (based on 2023-24 numbers). This is much higher than the national average of $241,680 for four years at a private university.
This student loan and scholarship information may be valuable as you research schools and costs.
Undergraduate Tuition and Fees
|
Tuition & Fees |
$65,538 |
|
Books & Supplies |
$1,200 |
|
Total |
$66,738 |
The total cost of attendance (which includes the above costs plus room and board and other expenses) for undergraduates at Tulane was $87,446 in 2023-24. This is notably higher than the average annual cost of attendance for private colleges in the U.S., which is $60,420.
Graduate Tuition and Fees
Costs for 2023-24
• Average tuition: $63,814
• Fees: $2,232
Tuition and fees for graduate students at Tulane for 2023-24 averaged $66,046. This is higher than the average cost of graduate school tuition and fees in the U.S., which is $21,730 per year.
There are graduate loans available to help with these costs.
Cost per Credit Hour
Students at Tulane generally need to enroll full-time and pay a flat fee for tuition and fees. Seniors who require less than 12 credits to graduate, however, may apply for part-time enrollment in their last semester and pay $2,683 per credit hour.
Summer students can also attend the university part-time and pay per credit hour. The cost per credit hour in the summer is $1,240. There are early summer and late summer part-time sessions at Tulane.
Certificates
Tulane’s School of Professional Advancement offers several professional certificates for undergraduates. These include certificates in Accounting Fundamentals, Public Relations, and Digital Media & Marketing Communications. Each certificate requires 12 to 15 credits or four to five classes.
Campus Housing Expenses
Costs for 2023-24
• Food and Housing (on campus): $18,088
• Other Expenses: $2,620
• Total Estimated Living Expenses: $20,708
Students admitted as new students (not transfer students) are required to live on campus for their first three years at Tulane. There are 15 residence halls on campus. Students also have the option of living in one of the many Residential Learning Communities: these are immersive spaces within the dorms where students live together to learn about and participate in activities centered around a theme.
For students in their fourth year who want to move off campus, there are plenty of rental options located near the university.
Tulane University Acceptance Rate
|
Number of Applications |
Number Accepted |
Percentage Accepted |
|
27,936 |
4,190 |
15% |
The Tulane acceptance rate is just 15%. This speaks to the university’s high standards for applicants and makes the school very selective.
Admission Requirements
Thinking of applying to Tulane? Here are Tulane’s admissions requirements.
Required:
• Application (including list of activities and personal statement)
• High school transcript
• Secondary school report
• School counselor recommendation
Optional:
• SAT or ACT scores
• Portfolio or audition materials
• Teacher recommendations
Here are the application deadlines:
• Early Decision: November 1 (with a decision given by December 15)
• Early Action: November 15 (with a decision given by January 10)
• Early Decision II: January 15 (with a decision given by February 15)
• Regular Decision: January 15 (with a decision given by April 1)
SAT and ACT Scores
Though submitting test scores is optional at Tulane, 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 |
690 |
750 |
|
SAT Math |
700 |
760 |
|
ACT Composite |
31 |
33 |
|
ACT English |
31 |
35 |
|
ACT Math |
27 |
32 |
Popular Majors at Tulane University
Tulane offers a wide range of majors and minors and encourages cross-disciplinary studies across its five undergraduate schools. Here are some of the most popular majors at the university.
1. Finance
Not only do Finance majors learn about valuation, accounting, investments, and fixed-income analysis, but they also have the opportunity for hands-on experience by producing analysts’ reports and investing real funds in the market.
Undergraduate degrees in 2022-23: 279
2. Psychology
Psychology students will learn research methods they can apply in hands-on lab work. They’ll take courses like Human Development, Cognitive Basis of Behavior, and Evolutionary Psychology and Ethology.
Undergraduate degrees in 2022-23: 171
3. Health Professions and Related Clinical Sciences
Students dive into topics including nutrition, personal fitness, health evaluation, risk behaviors, and healthy behavior changes. They also have the opportunity to participate in an internship in their chosen field.
Undergraduate degrees in 2022-23: 161
4. Marketing
After taking core business courses like Financial Accounting and Intro to Business Computing, Marketing majors can delve into classes like Advanced Marketing Strategy, Social and Online Marketing, Pricing, New Product Development, and Relationship Marketing.
Undergraduate degrees in 2022-23: 133
5. Communication
Communication majors develop speaking, analysis, and communication skills, including written, visual, and nonverbal. Coursework includes Introduction to Cultural Studies, Cross-Cultural Analysis, Rhetorical Criticism, New Media Analysis, and Philanthropy and Social Change.
Undergraduate degrees in 2022-23: 120
6. Neuroscience
This program is a blend of Psychology, Biology, Chemistry, Physics, Anatomy, Pharmacology, Linguistics, and Physiology. Students can participate in lab work as well as study abroad.
Undergraduate degrees in 2022-23: 111
7. Management
Management students develop skills that teach them how to make strategic decisions, manage people, and bring new technologies and innovations to market. Classes include Legal, Ethical, and Regulatory Environment of Business; Organizational Behavior; Management Communication; and Marketing Fundamentals.
Undergraduate degrees in 2022-23: 109
8. Political Science
Another top major at UT Knoxville is business statistics, which focuses on applied statistics. Students learn how to gather data about an organization’s performance, analyze it to offer business solutions, and make predictions about further growth.
Undergraduate degrees in 2022-23: 82
9. Economics
Tulane offers both a Bachelor of Arts (BA) and a Bachelor of Science (BS) in Economics. The BA has more focus on broad liberal arts training, while the BS focuses more on quantitative analysis.
Undergraduate degrees in 2022-23: 73
10. Political Science / International Relations
Thought in the West, World Economy, and International Political Economy.
Undergraduate degrees in 2022-23: 45
Graduation Rate
Most Tulane students complete their degree in four years. But some students take longer. Here are the graduation rates for students who began at Tulane in 2017.
• 4 years: 82%
• 6 years: 89%
Post-Graduation Median Earnings
The median annual earnings of Tulane University graduates is $63,268. This is higher than the median earnings for all graduates of four-year colleges, which is $53,747.
Bottom Line
Tulane University, based in New Orleans, offers a dynamic academic experience, vibrant campus life, and a commitment to community service, deeply connected to the city’s rich culture. And while the Tulane tuition is steep, there are many financial aid opportunities available to help students manage the costs.
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
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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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Spelman College Tuition Costs and Fees
Spelman College Tuition and Fees
(Last Updated – 02/2025)
Spelman, a historically Black college in Atlanta, has been educating women of African descent since 1880. Many students are drawn by the Spelman College ranking: The school has been ranked the No. 1 historically Black college and university in the country by U.S. News & World Report for 18 years in a row. Here’s an overview of the Spelman College tuition, fees, housing costs, acceptance rate, and more.
Total Cost of Attendance
Costs for 2023-24
The Spelman College total cost of attendance was $51,366 in 2023-24. Here’s a breakdown of those costs:
• Tuition & Fees: $30,058
• Books & Supplies: $1,500
• Room & Board: $16,293
• Other Expenses: $3,515
• Total Cost of Attendance: $51,366
Financial Aid
Nearly every student (96%) receives some form of financial aid to help with Spelman tuition and expenses, whether it’s through student loans, scholarships, grants, or a combination of these.
For instance, around 36% of Spelman students are awarded Pell Grants, a type of federal funding for undergraduates who demonstrate exceptional financial need.
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 non-profit organizations.
• Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.
• Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than 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: Georgia Student Loans & Scholarships
Private Student Loans
Many students take out student loans to help with Spelman tuition. For instance, 83% of students have federal student loans and 5% take out private student loans that average $30,112 per academic year.
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 cost of attending college at any institution typically varies every year. Based on 2023-24 numbers, the cost to attend Spelman College for four years, including tuition and fees, room and board, books, and other expenses, would be $205,464.
This projected four-year degree price is lower than the national average four-year cost of a private university, which is $241,680.
This student loan and scholarship information may be valuable as you research schools and costs.
Undergraduate Tuition and Fees
|
Tuition & Fees |
$30,058 |
|
Books & Supplies |
$1,500 |
|
Total |
$31,558 |
The total cost of attendance (which includes the above costs plus room and board and other expenses) for undergraduates at Spelman College was $51,366 in 2023-24. This is notably lower than the average annual cost of attendance for private colleges in the U.S., which is $60,420.
Cost per Credit Hour
Full-time students registered for 12 to 20 credit hours will be charged the basic Spelman tuition each semester. Part-time students registered for less than 12 hours are charged $1,181 per credit hour. Full time students registered for more than 20 hours are charged $967 for each additional credit hour.
Campus Housing Expenses
|
Expenses |
On Campus |
Off Campus |
|
Food & Housing |
$16,293 |
$16,293 |
|
Other Expenses |
$3,515 |
$3,515 |
|
Total Estimated Living Expenses |
$19,808 |
$19,808 |
At Spelman, there are 11 residence halls on campus that house approximately 1,400 students. Most of the rooms are double occupancy, but there are some singles, triples, and quads.
For students who want to live off-campus, there are many options to choose from within walking distance of the campus.
Spelman College Acceptance Rate
|
Number of Applications |
Number Accepted |
Percentage Accepted |
|
10,610 |
3,607 |
34% |
For the fall of 2023, the Spelman acceptance rate was 34%, which is considered selective.
Admission Requirements
Here’s what you’ll need to submit if you plan to apply to Spelman.
Required:
• Completed Common Application
• Personal essay
• Supplemental essay
• $40 online application fee or valid application fee waiver
• 2 letters of recommendation (one must be from a teacher at your current school)
• Official high school transcript
• Official college transcript (if applicable)
Optional:
• Official SAT/ACT scores
The deadline for Early Decision and Early Action is November 1, with a decision given by December 31. The deadline for Regular Decision is February 1, with a decision given by May 1.
SAT and ACT Scores
Although standardized test scores are not required for admission to Spelman, many students do submit them. Here’s a look at the scores of students who enrolled in Fall 2023 at the 25th and 75th percentiles.
|
Subject |
25th Percentile |
75th Percentile |
|
SAT Evidence-Based |
550 |
660 |
|
SAT Math |
510 |
610 |
|
ACT Composite |
21 |
27 |
|
ACT English |
21 |
29 |
|
ACT Math |
18 |
25 |
Popular Majors at Spelman College
Spelman College offers a wide range of undergraduate programs in liberal arts and sciences. Here are some of the most popular majors, based on degree awards in the 2022-23 school year.
1. Psychology
Those majoring in Psychology take courses like Data Science in Psychology, Psychology of the African-American Experience, Brain and Behavior, and Abnormal Psychology.
Undergraduate degrees in 2022-23: 63
2. Political Science
In this program, students study the concepts and principles of political science while sharpening their communications skills. Courses include International Relations; Comparative Political Systems; Data Analysis and Research Methods; and National Government in the United States.
Undergraduate degrees in 2022-23: 53
3. Health Sciences
Those studying for a Health Sciences degree take classes in natural sciences, social sciences, and humanities. They also learn how to analyze disease processes with newly-developed problem-solving skills.
Undergraduate degrees in 2022-23: 39
4. Biology
This program provides students with a solid foundation in major biological concepts, and offers courses in population, organismal, cellular, and molecular sciences. Students learn how to collect data and design controlled experiments.
Undergraduate degrees in 2022-23: 34
5. Economics
Economics majors can take electives in international economics, industrial organization, economic development, political economy, and public policy. They can also choose to minor in management and organization.
Undergraduate degrees in 2022-23: 34
6. English
In this program, students study literary works from various historical periods. They’re required to choose an area of deep study in Textual or Writing Studies.
Undergraduate degrees in 2022-23: 25
7. International Studies
Students learn about the cultural, economic, and political influences on populations around the world. They also have the opportunity to further their learning abroad.
Undergraduate degrees in 2022-23: 25
8. Sociology
Spelman offers a Bachelor of Arts (BA) degree in Sociology, as well as in Sociology and Anthropology. Additionally, students can choose a concentration in Public Health, Pre-Medicine, or Pre-Law/Criminology.
Undergraduate degrees in 2022-23: 21
9. Computer and Information Sciences
Students learn how to solve problems with a computer, as well as how to program with diverse programming languages. They also develop analytical skills while learning software engineering principles.
Undergraduate degrees in 2022-23: 16
10. Comparative Women’s Studies
This program offers courses like Cinemythic Journey: Black Woman as Hero in American Cinema, Women and Social Resistance Movements, The Black Female Body in American Culture, and Feminist Philosophy.
Undergraduate degrees in 2022-23: 13
Graduation Rate
These are the graduation rates for Spelman College students who began attending the school full-time in the fall of 2017:
• 4 years: 68%
• 6 years: 76%
Post-Graduation Median Earnings
The median annual earnings of Spelman College graduates is $59,993. This is slightly higher than the median earnings for all graduates of four-year colleges, which is $53,747.
Bottom Line
With its prestigious Spelman College ranking as the No.1 historically Black college and university in the United States, Spelman offers Black women a top-notch education in liberal arts and sciences. The Spelman tuition is below the national average for private universities, and there are many financial aid options for students, which can help make it affordable to earn a degree.
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-Q125-003
Here’s Everything That Could Cost More With Trump’s Tariffs
President Donald Trump is playing hardball with our nation’s largest trading partners, imposing new tariffs on Mexico, Canada and China in an effort to staunch the flow of drugs and illegal immigrants.
Whether you approve of his motives or not, few dispute that the new tariffs — additional taxes imposed on foreign importers — could be passed on to consumers, raising prices that are already painfully high.
Things like cars, food, gasoline, and building materials could all get more expensive, depending on how things play out. (The tariffs were set to start Feb. 4, but only the 10% tariff on Chinese imports has actually taken effect. Leaders in Mexico and Canada have managed to get a 30-day reprieve from the 25% tariffs imposed on their countries by pledging to prioritize Trump’s border control concerns.)
The looming trade war is a fluid situation loaded with caveats, but in the meantime, your wallet hangs in the balance. So we scoured government and industry sources as well as credible news sites to come up with a comprehensive list of items that could become harder to afford:
New Homes – More than 70% of U.S. imports of two key building materials — softwood lumber and the gypsum used for drywall — come from Canada and Mexico.
New Cars – Not only are many cars manufactured abroad, but billions of dollars worth of the components that go into them come from Mexico, Canada and China. The tariffs could add roughly $3,000 to the sticker price of cars and trucks.
Food – Your grocer’s produce aisles are likely stocked with avocados, tomatoes and strawberries from Mexico. In 2023, Mexico accounted for 63% of the vegetables and 47% of the fruit and nuts imported into the U.S. We also import billions of dollars worth of agricultural products from Canada, including meat and grains. And then there’s maple syrup. Canada produces 70% of the global supply.
Liquor and Beer – The party won’t be over, but it will cost more to throw. Mexico’s Constellation Brands, which makes Modelo and Corona beer and Casa Noble tequila, could raise prices by 4.5%.
Prescriptions – The U.S. relies heavily on pharmaceutical imports, especially for lower-cost generic prescriptions. Many drug ingredients come from China and India. Tariffs could not only raise the price of prescriptions, but deepen shortages of these drugs, industry groups warn.
Cans and Appliances – Canada and Mexico are among this country’s largest suppliers of steel and aluminum, which means everything from food and beer packaging to appliances and equipment could get more expensive. Steel costs feed into construction and oil production too.
Gasoline – Canada and Mexico supplied 71% of the crude oil that the U.S. imported in 2023. Nearly 60% was Canada alone. This means pump prices could go up with tariffs, though maybe just temporarily. (Trump’s 25% tariff order on Canada provides a partial exception to energy products — they would have a 10% duty, rather than the full 25%.)
Electronics – China is the top supplier of electronics to the U.S. That means cellphones, computers and other gadgets could get pricier as the Chinese tariffs work their way through the supply chain. Apple assembles most of its products in China. And about four in 10 third-party sellers on Amazon reportedly source their products through China.
So what? If Trump’s new tariffs make their way through the supply chain, many facets of life stand to get measurably more expensive. But the if-factor is huge. The president is using the tariffs as a bargaining chip in border policy negotiations, so things have and could change quickly. Both consumers and businesses should be prepared for any number of outcomes.
Related Reading
• Trump’s Tariffs Are a $1.4 Trillion Gamble With the Economy and Prices (CNN)
• Trump Administration’s New Tariff Policy Leaves Markets Uncertain. Investors Should Focus Their Strategy on the Long Term (J.P. Morgan)
• Inside the Chaotic Run-Up to Trump’s Tariff U-Turn (The Wall Street Journal via MSN)
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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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Step 1: Choose an IRA
Types of IRAs to fit your retirement goals.
One of the first steps to opening an IRA is choosing the right account type for your goals.
Whether you’re starting a fresh retirement plan or moving an existing one, find the fit that matches your savings style.
Roth IRA
Taxed today, not in retirement
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• Contributions are not tax-deducitble.
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• Potential for tax-free growth and tax-free withdrawals in retirement.
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• Income eligibility does exist.
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• Annual contribution limits apply.
Traditional IRA
Save now, taxed when retired
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• Contributions may be tax-deductible.
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• Earnings grow tax-deferred and are taxed as ordinary income when withdrawn in retirement.
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• No income eligibility requirements.
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• Annual contribution limits apply.
Rollover IRA
Move 401(k), 403(b)s
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• No contribution limits when rolling over your 401(k)s.
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• Consolidate 401(k)s from previous employers into one easy-to-manage account.
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• No taxes or penalties when moving funds from a qualified plans.
SEP IRA
For the self-employed
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• Designed for self-employed individuals and small business owners.
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• SEP IRA contributions are tax-deductible.
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• Higher contribution limits compared to Traditional and Roth IRAs.
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Step 2: Choose Management Style
Choose how you want to manage your IRA.
Once you’ve picked an account, the next step is to choose the investment style that fits your style. You can be hands-on with self-directed investing or let SoFi’s robo-advisor handle the heavy lifting with automated investing.
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Self-Directed IRAs
(Hands-On)
If you want to be hands-on and select your own investments in your IRA, self-directed investing is the option for you. Be your own investor and pay no commissions on your trades. Other fees apply.
Open a Self-Directed IRA
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Automated IRAs
(Hands-Off)
Overwhelmed by your investment options or not sure where to start? We’re here to help. Just tell us about your overall retirement and investment goals and our robo advisor will build and manage a custom portfolio for your IRA – just for you.
Open an Automated IRA
Step 3: Open your IRA
Open your IRA online in 3 easy steps.
Now that you’ve chosen your account and investment style, follow these last three steps to officially open your IRA and put your money to work.
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Complete application online.
Take a few minutes to provide some basic personal and financial information to set up your account securely.
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Fund your IRA.
Link your bank for a one-time deposit, set up recurring contributions, or rollover funds from an existing 401(k).
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Start investing.
Choose your own stocks and ETFs or select an automated, robo-advisor-managed portfolio to put your money to work.
Open an IRA
How SoFi can help you prepare for retirement.
Discover the benefits of opening an IRA with SoFi and see how it can help you achieve your retirement goals.
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A 1% match for your future. 1
Reimagine your retirement with a 1% match on IRA contributions and 401(k) rollovers—no employer plan is necessary. Note: SEP IRAs are excluded.
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Diverse investment options.
Whether selecting your investment options yourself or letting us build your portfolio for you, you get access to a wide range of investment options including stocks, ETFs, alternative investments, and more.
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Professional advice at no additional cost.
Book a complimentary 30-min session with a SoFi Financial Planner to help get a clear understanding of your current financial situation – and build a strategy moving forward.
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No commissions on stocks and ETFs.
No commissions on stocks and ETFs means no extra cost to you. Other fees apply.
Open an IRA
Begin rollover
1Terms and conditions apply. Matches are made on contributions up to the annual limits. 5-year holding period required.
Based on SoFi Members. This claim may not be representative of the experience of all other customers. | Updated: 1/26/2026
{/* snatch a 2% IRA match with sofi plus */}
Snatch a 2% IRA match with SoFi Plus.2
Get more from your contributions. Act now—the offer ends 4/15/26.
See details
Members with Eligible Direct Deposit or Qualifying Deposits receive complimentary SoFi Plus access through 3/30/26 and are eligible for this promotion. Terms and conditions apply. Matches are made on contributions up to the annual limits.
See where you stand for retirement.
Use our retirement calculator to estimate what you’ll have, what you’ll need,
and to identify any gaps so you can plan with confidence. 3
How our retirement calculator works.
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This calculator projects your retirement savings by considering your current balance, annual contributions, and the rate of return on your investments. This is for educational purposes and is based on hypothetical assumptions that may not reflect actual performance.
The projected amount is in today’s dollars, meaning it reflects the purchasing power of your savings in terms of today’s cost of living, after adjusting for inflation. It also assumes those amounts are in pre-tax dollars, meaning taxes on these funds will be paid when you withdraw them in retirement.
On track or not, maxing out your IRA unlocks the power of compound returns.
Whether you’re on track or facing a gap based on your calculator results, consistently maxing out your IRA each year can help strengthen your long-term retirement outlook with the help of compound returns. This refers to the potential for your savings to build on themselves over time, similar to a snowball effect.
Take this chart, for example. It shows how those returns can add up over time when you consistently contribute the annual IRA maximum, based on a hypothetical 7% annual return, which reflects the historical average of the S&P 500 Index. 4
Calculators and guides to help you plan your retirement.
You know you’re supposed to save for retirement, but do you know how to get started or what you’re supposed to do over time? From knowing how much to save, what to invest in, and how to manage your retirement account, our tools and resources can help you on the road to retirement.
See more investing articles
FAQs
The annual contribution limit for a traditional and Roth IRA is $7,000 for 2025 and $7,500 for 2026. Those 50 and older can contribute $8,000 in 2025 and $8,600 in 2026.
The SEP IRA contribution limit for 2025 is 25% of an employee’s total compensation, up to $70,000. The SEP IRA contribution limit for 2026 is 25% of an employee’s total compensation, up to $72,000. Other limitations may apply.
Traditional IRA contributions may be tax-deductible if you meet certain income requirements. Roth IRAs are not tax-deductible.
Learn more: IRA Tax Deduction Rules
Yes, you can have both a 401(k) and an IRA. Note that the two account types have different contribution and withdrawal rules, so be sure to understand those before opening an account.
How do I move my 401(k) to an IRA?
SoFi Invest offers a range of retirement accounts and 401(k) rollover options.
We offer Traditional, Roth, and SEP IRAs, and can help with the rollover process.
Yes, you can have multiple IRAs, but the total amount you contribute to all of your IRAs cannot exceed the annual IRS contribution limits.
Is my IRA deposit or 401(k) rollover automatically invested?
It depends. If you want your contributions or rollovers to be automatically invested and rebalanced, you have the option to open a Robo IRA where we’ll build a portfolio for you, based on your investment objectives and risk appetite.
If you prefer to choose your investments yourself, you have the option to open an Active IRA. With an Active IRA, don’t forget to place trades to invest your IRA deposits so you don’t leave them as uninvested cash in your account.
For traditional IRAs, you can make penalty-free withdrawals once you reach age 59½. Roth IRA contributions can be withdrawn at any time without tax or penalty, for any reason at any age. Investment earnings on Roth contributions can typically be withdrawn, tax-free and without penalty, once the investor reaches the age of 59½, as long as the account has been open for at least a five-year period.
Learn more: Traditional and Roth IRA Withdrawal Rules & Penalties
Required minimum distributions (RMDs) are minimum withdrawals set by the IRS that you must make when you reach a certain age. For traditional IRAs, RMDs kick in the year you turn 72 (73 if you reach age 72 after Dec. 31, 2022).
SoFi IRAs are available to anyone who is a U.S. citizen or resident who’s at least 18 years old and has a valid Social Security number.
There’s no cost to open a SoFi IRA.
SoFi retirement accounts don’t have any account fees. However, there may be fees associated with certain ETFs and mutual funds ranging from 0.03% to 0.40%. Other fees apply.
SoFi offers a variety of investment options for your retirement savings including ETFs, stocks, and more. You can choose to invest in individual investments or you can use SoFi’s automated investing service to create a diversified portfolio that’s tailored to your risk tolerance and investment goals.
The rollover must be completed via the integrated Capitalize rollover experience within the SoFi Invest platform. To begin the rollover process, please click here.
What is an IRA match and how does it work?
The IRA Match is an extra 1% that SoFi adds to your IRA for making contributions and rollovers. It does not count toward your annual contribution limits. The pay-out amount for the 1% contribution match is calculated based on each settled deposit up to the annual contribution limits.
For example, if you deposit $3,000 into your IRA, your 1% match will be $30. There is no cap or limit on the 401(k) rollover match.
Contributions into Automated IRA, Automated Roth IRA, Active IRA, and Active Roth IRA are eligible for the match promo.
Is my 403(b) or 457(b) eligible for the match?
Yes, as long as you completed the rollover via the SoFi platform utilizing this link, your rollover is eligible for the match.
The match will be paid out within 5 business days of the transfer being settled, subject to verification of eligibility and compliance with these terms.NOTE: Your IRA Contribution Match and Rollover Match will be paid out as two separate amounts.
Yes – you must keep the funds in your SoFi IRA for five years from the deposit settlement date. Early withdrawals will be subject to an early withdrawal fee. SoFi will remove a proportional amount of the bonus from the member’s account based on the breach in retention value. In the event of an ACAT transfer out, there will be an early withdrawal fee for the entire match amount. See terms for more detail.
SoFi will match 1% of a customer’s ACH deposits or via cash transfers from SoFi Bank accounts, up to their contribution limit. Contributions over the annual contribution limit will not be matched. Please see examples below:
Example 1: If you have not made any contributions to your IRA for 2025 and contribute $7000 you will be matched 1% of your contribution amount, which is $70.
Example 2: If you have already made a contribution of $2,000 to your IRA for 2025 and contribute an additional $7,000, bringing you over the annual contribution limit, you will be matched 1% of your additional contribution up to the legal limit, which would be $50 if you are below 50 years old, or $60 if you are above 50 years old.
Is the SoFi IRA Match the same as an employer’s 401(k) match?
The SoFi IRA Match and employer 401(k) match both offer matches on retirement investments, but they aren’t the same.
For starters, the IRA Matches do not count toward your annual contribution limit. Also, you don’t have to work for SoFi to earn an IRA Match. In contrast, a 401(k) employer match is a contribution that an employer makes to an employee’s retirement account.
It is possible to have both an employer 401(k) match, earn the IRA 1% Contribution Match with a SoFi IRA and rollover a 401(k) from a previous employer to a SoFi IRA to earn a 1% Rollover Match.
Start saving for retirement your way.
Open a SoFi IRA
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