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How Many Colleges Should I Apply to, by Cost of Application?
Apply to as many colleges as you want to, but keep application costs in mind.
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Anna Helhoski is a senior writer covering economic news and trends in consumer finance at NerdWallet. She is also an authority on student loans. She joined NerdWallet in 2014. Her work has appeared in The Associated Press, The New York Times, The Washington Post and USA Today. She previously covered local news in the New York metro area for the Daily Voice and New York state politics for The Legislative Gazette. She holds a bachelor's degree in journalism from Purchase College, State University of New York.
Des Toups Lead Assigning Editor | Student loans, repaying college debt, paying for college
Des Toups was a lead assigning editor who supported the student loans and auto loans teams. He had decades of experience in personal finance journalism, exploring everything from car insurance to bankruptcy to couponing to side hustles.
You can apply to as many colleges as you want to, but five to eight schools is recommended, according to The College Board, the higher education not-for-profit that administers the SAT.
But your application costs will add up the more schools you have on your list.
When you’re assessing schools, look for a mix of safety, reach and good-fit colleges among more than 4,500 two-year and four-year schools. Once you have your shortlist, weigh the potential costs of applying to all your choices. Some of the factors to consider include:
Testing fees.
Application fees.
Financial aid applications.
Optional expenses such as test prep and college visits.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.59-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Variable APR
5.34-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.49-15.49%
Lowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 10/25/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Variable APR
5.04-15.21%
Lowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 10/25/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Credible lets you check with multiple student loan lenders to get rates with no impact to your credit score. Visit their website to take the next steps.
Fees for required tests
Many colleges will require you to submit standardized test scores from either the SAT or ACT. You may opt to take the tests multiple times to improve your score, but you’ll pay the test fee each time you schedule one.
There are waivers available for SAT and ACT testing fees. Waivers are distributed by high school guidance counselors, based on need.
The SAT
The SAT has a price tag of $47.50. If you take the SAT with essay, which some schools require, you’ll pay $64.50. You can send scores to up to four schools, but if you want additional schools to receive your scores, you’ll pay $12 per report.
The ACT
It will cost $50.50 to register for the ACT test. To take the test with the essay you’ll pay $67. Your scores will be sent to four schools. Additional schools will cost $13 each.
Again, there’s no limit on how many colleges you can apply to, but each will likely require an application fee. The average fee is $50 but it can go up to $90 at some elite colleges, according to U.S. News & World Report, which ranks colleges annually.
The Common App, a standard application accepted by roughly 900 colleges, often requires application fees. For the schools which accepted the Common App and required an application fee during the 2020-21 application period, the average fee was nearly $55, according to a NerdWallet analysis. Nonetheless, nearly half of the colleges that accepted the Common App didn't require a fee.
However, schools will waive the charge if you meet criteria for financial need. You could also consider colleges that don’t charge application fees.
The Free Application for Federal Student Aid, or FAFSA, has “free” in the name because it won’t cost anything to submit. It’s the key to accessing federal student aid including grants, scholarships, work-study and federal student loans. Select up to 10 schools to receive the results of the FAFSA you submit.
Some of the schools on your list may require the CSS Profile for access to state and institutional aid. Unlike the FAFSA, the CSS Profile costs $25 to submit to one school. To send scores to additional colleges, it will cost $16 per school. But you may qualify for a CSS Profile fee waiver that would cover these expenses.
How it all adds up
If you have a set budget for applying to school, ask yourself: Is every school on my list one I want — and can afford — to attend? Here are three examples of how application expenses can add up.
Scenario 1: Apply to five schools
Say you plan to apply to five colleges that have $50 application fees. You plan to take both the SAT and the ACT tests once. Two of the colleges want you to submit the CSS Profile. Here’s how much you can expect to pay:
SAT test = $47.50
ACT test = $50.50
Application fees = ($50 x 5)
FAFSA = $0
CSS Profile for two schools = $25 + $16
Total = $389
Scenario 2: Apply to eight schools
You plan to apply to eight colleges. You want to take the SAT with the essay only once. Three of the colleges require the CSS Profile. Seven of the schools carry $50 application fees, but you also are applying to one school with a $75 fee. Here’s how much you can expect to pay.
SAT test with essay = $64.50
Application fees = ($50 x 7) + $75
FAFSA = $0
CSS Profile for three schools = $25 + $16 + $16
Total = $546.50
Scenario 3: Get fee waivers for applications at four schools
Say you’re granted fee waivers for testing and for four applications you want to submit. If none of these schools require the CSS Profile for financial aid, you could pay nothing to apply to college.
SAT test with essay = waived
Application fees = waived
FAFSA = $0
Total = $0
Related costs that raise your total
Campus visits. Depending on the distance to visit schools, travel expenses including food and lodging will build up fast. You may not need to visit every school on your list, but some colleges will require in-person interviews or auditions as part of the admissions process.
SAT/ACT prep courses and materials. You may want to take a test prep course or buy study guides to help you get a better score on an exam. The College Board’s most recent Official SAT Study Guide is $28.99, and its prep course is $38.98. The Official ACT Prep Guide is $32.95, and the official ACT Online Prep course is $39.95.
College admissions counseling. Turning to professional college admissions experts can get pricey. You could pay anywhere from hundreds an hour for advice to several thousands for boot camps and one-on-one tutoring.
