Over 10 million students, or about 35% of undergraduates, are enrolled in community colleges across the nation.
They may want to continue to live at home, or prefer a two-year path to achieving their education goals (although some community colleges offer four-year degrees.)
Still others attend because universities can be far more expensive than community colleges.
| Company | Fixed Rates (APR) | Variable Rates (APR) | Rating (0-5) |
|---|---|---|---|
Terms & Disclosures
Information advertised valid as of 05/04/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s). All rates shown 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. College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC |
5.59% – 16.99% | 3.99% – 15.89% |
Terms & Disclosures
Information advertised valid as of 05/04/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s). All rates shown 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. College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC |
Terms & Disclosures
Borrow responsibly Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000. 1. Loan application must be submitted to see available rates. 2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal. 3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024. 4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit 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. 5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. 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. 6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered. 7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. 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. Information advertised valid as of 05/26/2026. ALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION. Sallie Mae loans are made by Sallie Mae Bank. |
5.59% – 16.99% | 3.87% – 16.50%% |
Terms & Disclosures
Borrow responsibly Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000. 1. Loan application must be submitted to see available rates. 2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal. 3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024. 4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit 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. 5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. 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. 6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered. 7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. 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. Information advertised valid as of 05/26/2026. ALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION. Sallie Mae loans are made by Sallie Mae Bank. |
Terms & Disclosures
In-School Loans Disclosures
Earnest Private Student Loans are subject to credit approval. Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA® form to apply for federal student loans options. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at studentaid.gov.
Auto Pay Discount
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
Cosigner Release
To qualify for automatic cosigner release, the outstanding principal balance of your loan must be paid down to 50% or less of the original principal balance. The primary borrower must have made 36 months of required payments after the end of the Interim Period. The primary borrower must meet our eligibility and minimum credit requirements. Additional terms and conditions may apply.
To request cosigner release, the primary borrower must have made 12 consecutive, monthly on-time principal and interest payments (or an amount equal thereto) immediately preceding the cosigner release application. The primary borrower must satisfy certain eligibility and credit criteria at the time of application. Additional terms and conditions may apply.
Grace Period
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Loan Cost Examples
Available interest rates are subject to change. Interest rates as of 03/19/2026. Earnest’s Loan Cost Examples:
1.) These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. Variable annual percentage rate (“”APR””): A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $27,511.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $27,054.10.
2.) These examples provide estimates based on interest-only payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $35,515.14. For a variable loan, after your starting rate is set, your rate will then vary with the market. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $140.42 for 57 months. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $34,886.94. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $137.42 for 57 months.
3.) These examples provide estimates based on fixed $25 payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate without Auto Pay (14.92% APR) would result in a total estimated payment amount of $47,035.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $246.61) and a 16.49% interest rate without Auto Pay (14.65% APR) would result in a total estimated payment amount of $45,814.80. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $25.00.
4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate without Auto Pay (14.67% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $268.03) and a 16.49% interest rate without Auto Pay (14.39% APR) would result in a total estimated payment amount of $48,245.40. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available when the deferred repayment option has been selected and the loan is in the interim period. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0.
Loan Minimum
Residents of Hawaii must request a loan of at least $1,501.
Repayment Terms and Options
Repayment terms and repayment options available vary based on loan type.
Skip a Payment
Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
No Fees
Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
Earnest Private Student Loans are made by FinWise Bank, Member FDIC. FinWise Bank, 756 East Winchester, Suite 100, Murray, UT 84107. Earnest student loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland, CA 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). FinWise Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
Interest Rates Disclosure: |
5.59% – 16.99% | 3.99% – 16.85% |
Terms & Disclosures
In-School Loans Disclosures
Earnest Private Student Loans are subject to credit approval. Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA® form to apply for federal student loans options. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at studentaid.gov.
Auto Pay Discount
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
Cosigner Release
To qualify for automatic cosigner release, the outstanding principal balance of your loan must be paid down to 50% or less of the original principal balance. The primary borrower must have made 36 months of required payments after the end of the Interim Period. The primary borrower must meet our eligibility and minimum credit requirements. Additional terms and conditions may apply.
To request cosigner release, the primary borrower must have made 12 consecutive, monthly on-time principal and interest payments (or an amount equal thereto) immediately preceding the cosigner release application. The primary borrower must satisfy certain eligibility and credit criteria at the time of application. Additional terms and conditions may apply.
Grace Period
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Loan Cost Examples
Available interest rates are subject to change. Interest rates as of 03/19/2026. Earnest’s Loan Cost Examples:
1.) These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. Variable annual percentage rate (“”APR””): A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $27,511.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $27,054.10.
2.) These examples provide estimates based on interest-only payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $35,515.14. For a variable loan, after your starting rate is set, your rate will then vary with the market. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $140.42 for 57 months. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $34,886.94. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $137.42 for 57 months.
3.) These examples provide estimates based on fixed $25 payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate without Auto Pay (14.92% APR) would result in a total estimated payment amount of $47,035.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $246.61) and a 16.49% interest rate without Auto Pay (14.65% APR) would result in a total estimated payment amount of $45,814.80. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $25.00.
4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate without Auto Pay (14.67% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $268.03) and a 16.49% interest rate without Auto Pay (14.39% APR) would result in a total estimated payment amount of $48,245.40. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available when the deferred repayment option has been selected and the loan is in the interim period. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0.
Loan Minimum
Residents of Hawaii must request a loan of at least $1,501.
Repayment Terms and Options
Repayment terms and repayment options available vary based on loan type.
Skip a Payment
Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
No Fees
Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
Earnest Private Student Loans are made by FinWise Bank, Member FDIC. FinWise Bank, 756 East Winchester, Suite 100, Murray, UT 84107. Earnest student loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland, CA 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). FinWise Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
Interest Rates Disclosure: |
|
3.29% – 15.99% fixed-rate APR w/ autopay included | 4.64% – 16.73% variable-rate APR w/autopay included |
|
|
5.59% – 16.99% | 3.99% – 17.99% |
|
|
5.59% – 16.99% | 6.75% – 17.99% |
|
How much money do I need for community college?
According to the College Board, the average tuition and fees at a public two-year college in 2024 – 2025 are $4,050 per year—though in some states, like California, tuition is as low as $1,440. Others, such as Vermont, exceed $8,600.
For students who need to cover tuition, books, and living expenses, student loans can help—but choosing the right lender matters. Unlike four-year colleges, community college students often need smaller loan amounts (sometimes as little as $1,000 per semester), which not all lenders accommodate.
In this guide, we highlight the best federal and private student loans for community college based on:
- Minimum loan amounts (to ensure you can borrow only what you need)
- Enrollment requirements (some lenders allow part-time students, while others require at least half-time enrollment)
- Repayment flexibility (e.g., in-school deferment or interest-only payments)
- Borrower benefits (such as cosigner release and financial planning tools
By choosing the right loan, you can avoid borrowing more than necessary while keeping payments manageable. Let’s explore the best options for financing your community college education.
Table of Contents
1. Federal student loans for community college
Federal student loans are the best first option for community college students since they offer fixed interest rates, flexible repayment plans, and no credit requirements.
📌 Important facts for community college students:
- You must be enrolled at least half-time to qualify for federal loans.
- Loans cover tuition, books, and living expenses at accredited schools.
- Federal borrowing limits are the same whether you attend a community college or a four-year university. If you only need a small amount—say, $1,000—to cover your tuition, you might be better off taking out a private student loan.
| Type of loan | Rates | Annual $ limit | Best for |
| Direct Subsidized | 6.53% | $3,500 – $5,500 | Those with financial need; no interest while in school |
| Direct Unsubsidized | 8.08% | $5,500 – $12,500 | All, regardless of financial need |
| Parent PLUS | 9.08% | Up to full CoA* | Parents borrowing on behalf of kids |
If you qualify for Direct Subsidized Loans, max them out first—the government covers interest while you’re in school.
How to apply:
- Complete the FAFSA to determine your eligibility.
- Check with your school’s financial aid office for available aid options.
- Consider federal loans first.
Using private student loans to pay for community college could make sense if you’ve reached your federal loan limit. Most private loans require a credit check to qualify. If you haven’t built up sufficient credit history yet, you may need a cosigner to get approved.
2. College Ave
Why we picked it
⭐ Flexible loan amounts, no minimum enrollment requirement, and repayment options that work for students juggling work and school.
College Ave is a standout option for community college students who need to borrow only what they need. Unlike some lenders that require large loan amounts, College Ave lets you borrow as little as $1,000, making it perfect for covering tuition at schools with lower costs.
It also offers flexible repayment options—you can make full payments, interest-only payments, or defer until after graduation. And because there’s no minimum enrollment requirement, even if you’re taking just a class or two, you could still qualify for a loan.
✅ Why community college students like it:
- Borrow as little as $1,000—perfect for lower tuition costs
- No minimum enrollment requirement—part-time students can qualify
- Flexible repayment plans to fit your budget
- Quick online approval process—get a decision in minutes
📌 Good to know: College Ave requires a credit check, so you may need a cosigner to qualify if you don’t have a credit history.
Loan details
| Rates (APR) | 4.17% – 16.85% |
| Loan amounts | $1,000 – 100% of certified costs |
| In-school repayment plans | Full, interest-only, fixed, or deferred |
| Repayment terms | 5, 8, 12 or 15 years |
3. Sallie Mae
Why we picked it
⭐ Low borrowing minimums, flexible enrollment requirements, and strong cosigner options for students with little or no credit history.
Sallie Mae is one of the most flexible private lenders for community college students. It allows borrowers to attend school less than half-time, making it a solid choice for students balancing work, family, or other commitments while taking a few courses.
Another major benefit? If you need a cosigner, Sallie Mae makes it easier to release them after just 12 on-time payments—a shorter requirement than most lenders. Plus, Sallie Mae offers free credit score tracking, which can help you build your financial profile while in school.
✅ Why community college students like it:
- Borrow as little as $1,000—great for smaller tuition bills
- No minimum enrollment required—qualify even if taking just one class
- Cosigner release after 12 on-time payments
- Free credit score tracking for financial planning
📌 Good to know: Sallie Mae doesn’t offer soft credit checks to check your eligibility, so applying will result in a hard inquiry on your credit report.
Loan details
| Rates (APR) | 4.25% – 15.70% |
| Loan amounts | $1,000 – 100% of certified costs |
| In-school repayment plans | Deferred, fixed, or interest-only |
| Repayment terms | 10 or 15 years |
4. Earnest
Why we picked it
⭐ No fees, flexible repayment options, and a longer grace period give community college students extra breathing room.
Earnest is a solid choice for community college students who want to avoid extra costs while borrowing for school. Unlike some lenders that tack on origination, late payment, or prepayment fees, Earnest charges none—helping you save money in the long run.
Another major perk? Earnest offers a nine-month grace period after you leave school, which is three months longer than most lenders. That means more time to find a job or get settled financially before loan payments kick in. Plus, if you ever need a little flexibility, Earnest lets you skip one payment per year without penalty.
✅ Why community college students like it:
- No fees—ever. No origination, late payment, or prepayment fees.
- Nine-month grace period—longer than most lenders offer.
- Skip one payment per year if needed.
- Check your eligibility in minutes with a soft credit check.
📌 Good to know: Earnest requires at least half-time enrollment, so it’s not the best fit if you’re taking fewer than six credits per semester.
Loan details
| Rates (APR) | 4.29% – 16.85% |
| Loan amounts | $1,000 – 100% of certified costs |
| In-school repayment plans | Full, interest-only, fixed, or deferred |
| Repayment terms | 5, 7, 10, 12, and 15-year increments |
5. SoFi
Why we picked it
⭐ Great for students who want more than just a loan—financial advice, career resources, and member benefits.
SoFi® isn’t just a lender—it’s a financial community that offers benefits including free financial planning, career coaching, and even networking events. If you’re planning to transfer after community college or want guidance on managing student debt and future goals, SoFi is an excellent option.
It also offers a rate discount for taking out multiple loans, which can be useful if you plan to continue borrowing for a four-year degree after completing community college. Plus, you can earn and redeem rewards to put toward loan payments, helping you chip away at debt faster.
✅ Why community college students like it:
- Free financial planning
- Rewards program—use points to lower your loan balance
- Rate discount if you borrow more than once
- No fees—no origination, prepayment, or late fees
📌 Good to know: SoFi requires at least half-time enrollment, so it won’t work if you’re taking just one or two courses.
Loan details
| Fixed Rates (APR) | 4.19% – 15.86% |
| Loan amounts | $5,000 – 100% of certified costs |
| In-school repayment plans | Full, interest-only, fixed, or deferred |
| Repayment terms | 5, 7, 10, 15 or 20 years |
6. ELFI
Why we picked it
⭐ Dedicated loan advisors help first-time borrowers feel confident about their options.
ELFI is a standout choice for community college students who want hands-on guidance during the loan process. Every borrower gets a dedicated student loan advisor to help answer questions, compare repayment plans, and make informed decisions.
ELFI also offers competitive interest rates and flexible repayment terms, making it a solid choice for students juggling work, family, or other commitments while in school.
✅ Why community college students like it:
- Personalized loan advisor to guide you through the process
- Choose between in-school repayment or full deferment
- Check your rate without affecting your credit score
- No origination or prepayment fees
📌 Good to know: ELFI requires at least half-time enrollment, so students taking just one or two classes won’t qualify.
Loan details
| Rates (APR) | 3.98% – 14.22% |
| Loan amounts | $1,000 – 100% of certified costs |
| In-school repayment plans | Full, interest-only, fixed, or deferred |
| Repayment terms | 5, 7, 10, or 15 years |
How to choose the best community college student loans
Not all student loans work well for community college students, so it’s important to choose one that fits your needs. Here’s what to look for:
- Minimum loan amounts: Community college tuition can be low, so find a lender with a minimum loan that suits your needs.
- Enrollment requirements: If you’re taking fewer than six credits, check whether the lender allows part-time or less-than-half-time enrollment.
- Repayment flexibility: Look for in-school deferment or low monthly payment options to keep costs manageable.
- Fees and interest rates: Compare fixed vs. variable rates, and avoid lenders with origination fees or prepayment penalties.
- Cosigner options: If you lack credit history, choose a lender with strong cosigner release terms.
- Transfer-friendly terms: If you plan to move to a four-year school, consider a lender that offers rate discounts or future borrowing benefits.
Prequalify with multiple lenders to compare rates before committing to a loan.
As a financial planner, I think starting at community college is an excellent option for families who can’t cover the costs of a four-year college out of pocket. I would prefer to see my family pay for community college in cash or work while in school to pay tuition. By the time kids transfer to a four-year college for the last few years of school, at this point, I’m more comfortable with families taking out loans to pay for it.
Don’t forget an important rule of thumb: Only take out student loans equal to what your anticipated first year’s post-college salary would pay. So if you anticipate earning $40,000, that’s the maximum amount you should have in college loans. But if you’re an engineer in a high-demand field, you may earn more, and could increase your max debt load.
Be sure to understand the full impact of your loan payments before you borrow a single dollar. If those loan payments impede your quality of life, consider working and earning tuition dollars before starting your studies.
Catherine Valega, CFP®
Grants and scholarships for community college
Student loans can make it easier to pay for community college, but we recommend considering all the possibilities for funding your education. For instance, your state may offer grants or programs that will pay for some or all of the costs of community college.
Here’s a list of programs that offer help with paying for community college.
| State | Program | Features |
| Arkansas | ARFUTURE Grant | Provides 2-year funding to students who enroll in high-demand or STEM fields |
| California | California College Promise Grant | CA residents who are first-time college students are eligible |
| Delaware | Delaware Student Excellence Equals Degree (SEED) Scholarship Program | Open to high school students who are accepted at an eligible school and complete the FAFSA |
| Hawaii | Hawai’i Promise Scholarship | Available to HI residents or eligible students who qualify for residency-exempt status |
| Kentucky | Work Ready Kentucky Scholarship | Open to KY residents with a high school diploma or GED who are studying for in-demand fields |
| Kansas | Kansas Promise Scholarship | KS residents can apply and must agree to live and work in the state for 2 consecutive years after graduation. |
| Maryland | Maryland Community College Promise Scholarship | Open to MD residents who enroll in approved degree programs and complete the FAFSA |
| Michigan | Michigan Reconnect | Designed for older MI residents who haven’t yet earned a college degree |
| Missouri | A+ Scholarship Program | Open to MO students who attend designated A+ high schools and meet other minimum requirements |
| Montana | Montana Promise Act | Open to students enrolled in tribal or community colleges in MT who complete the FAFSA |
| New Jersey | Community College Opportunity Grant | NJ residents who have not completed a degree and are within household income thresholds can apply |
| New Mexico | Opportunity Scholarship | NM residents who plan to enroll in at least 6 credit hours at a public college or university in NM toward a training certificate, associate degree, or bachelor’s degree may qualify |
| Oklahoma | Oklahoma’s Promise | Open to eligible OK high school students who meet income requirements |
| Oregon | Oregon Promise | OR residents must have a high school diploma or GED and meet GPA requirements. |
| Rhode Island | Rhode Island Promise Scholarship | Covers high school diploma and GED recipients who attend the Community College of Rhode Island |
| South Dakota | Build Dakota | Open to in-state and out-of-state students attending eligible technical schools in SD |
| Tennessee | Tennessee Promise | TN residents are eligible; students must complete community service hours for each term enrolled |
| Virginia | G3 | Open to VA residents who qualify for in-state financial aid and have a household income equal to or less than 400% of the federal poverty level |
| West Virginia | West Virginia Invests | Open to WV residents who have not yet earned a college degree |
In most cases, you don’t need to repay scholarships and grants, so this is free money you can use to pay for school. When searching for grant and scholarship funding, be sure to consider national programs as well as state, local, and school-specific programs.
How we chose the best student loans for community college
LendEDU evaluates student loan lenders to help readers find the best student loans. Our latest analysis reviewed 725 data points from 25 lenders and financial institutions, with 29 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.
These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.
About our contributors
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Written by Geoff WilliamsGeoff Williams is a personal finance journalist specializing in all things personal finance, from cash flow to credit cards. An author of several books and a father of two daughters, Geoff especially enjoys exploring how good or bad money choices can affect your life.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.
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Reviewed by Catherine Valega, CFP®, CAIA®Catherine Valega, CFP®, CAIA®, founded Green Bee Advisory LLC to help women, philanthropists, investors, and small businesses build, manage, and preserve their financial resources. She's been practicing financial planning for more than 20 years.