SoFi Technologies, Inc. has released its “The Cost of Admission 2025” report, presenting findings from a national survey of 3,500 students, graduates, and parents about the challenges and perceptions related to financing higher education in the United States. The report highlights that while earning a college degree remains a major goal for many Americans—ranking just behind homeownership and on par with parenthood—student debt continues to impact when individuals can achieve significant life milestones.
The survey indicates that the most significant obstacle in paying for college is understanding the actual cost. According to the data, 95.5% of students and parents reported at least one difficulty, particularly with navigating financial aid processes such as FAFSA, scholarships, and grants. Economic pressures have also led 97% of respondents to reconsider or adjust their major financial decisions regarding college attendance. Additionally, 88% said student debt has caused them to postpone important plans in their lives. Affordability is now prioritized over institutional reputation by 63% of students when selecting a college.
Brian Walsh, PhD, CFP, and Head of Financial Advice and Planning at SoFi commented: “At SoFi, understanding our members and their ambitions is the foundation for building products that help people get their money right. When it comes to college, everyone deserves a path that fits their goals and their financial reality. That’s why we’re listening closely so we can deliver the right tools, guidance, and resources from school to career and beyond.”
The report includes insights from experts such as Brian Walsh; Vivian Tu—host of SoFi’s Richer Lives podcast; Beth Armstrong from Virginia Tech; and entrepreneur Vin Matano. It also features stories from SoFi members who have used company products to manage or eliminate student loans.
Vivian Tu stated: “When you truly understand your financial picture and strategically take advantage of tools like loans, you empower yourself to make decisions from a place of abundance—not fear. It’s not just about affording college—it’s about having the confidence to invest in yourself, make informed choices, and build the future you want. Far too often, people feel boxed in by what they think they can’t afford. With the right resources, like those SoFi provides, you can shift that mindset and take control of your financial journey.”
Beth Armstrong added: “Today’s students come from a wide range of family structures—legal guardianships, shared custody, blended households—which makes navigating financial aid more complex than ever. The SoFi report brings these shifting realities to light and challenges us to rethink how we support students. We also need to spotlight more success stories—because across all types of institutions, students are managing debt, building careers, and proving that a degree can still be a smart investment.”
SoFi was the first company in 2012 to offer refinancing for both federal and private student loans. Recently introduced programs include SmartStart—a refinancing option allowing interest-only payments for nine months—and an online Student Loan Debt Guide designed for borrowers managing changes in federal loan policies (https://www.sofi.com/student-debt-guide/). Since May 2025,SoFi reports having refinanced over $46 billion in student loans among its more than 10.9 million members.
The research was conducted by Culture Co-op between April 27 and May 8, 2025 through an online survey balanced across key demographics.
Vivian Tu receives compensation for her promotional activities on behalf of SoFi across various media platforms.
For additional information on SoFi's lending options or resources related to student debt management visit https://www.sofi.com.