Part-Time Student Loans
If you want to attend school part-time while you start your career, there are still loan options available. Both federal and private lenders can help you borrow money to cover your costs.

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College is expensive, but for many people, it’s a necessary part of starting the career they desire. With the average public college cost of attendance hitting almost $42,970 per year for out-of-state students, many people need to borrow money to be able to attend.
For people who don’t want to take on six figures in loans, part-time college attendance while working is an option, but even part-time students might have the financial need to borrow some money for their educations.
Students attending college part-time—which is usually defined as six credit hours or less—have both federal and private student loan options available.
On this page:
- Where to get started with student loans for part-time students
- Compare private part-time student loans
- When repayment begins for part-time student loans
Where to get started with student loans for part-time students
We recommend that students seeking loans look into federal student loans before private ones. Federal loans have a lot of perks, such as income-driven repayment plans and the possibility of student loan forgiveness.
You can qualify for these loans and other forms of federal part-time financial aid by filling out the Free Application for Federal Student Aid (FAFSA) each year.
The good news for part-time students is that the government offers the same types of loans to both full-time and part-time students. That means that you can get subsidized, unsubsidized, or PLUS loans, even if you aren’t going to be a full-time college student.
At most schools, a credit load of six hours per semester is considered half-time enrollment, which is required for federal loan eligibility. Twelve credit hours per semester generally qualifies for full-time, but be sure to check with your school to confirm their thresholds for full-time and part-time status.
Private part-time student loans
Private student loans can help you borrow money when you’ve maxed out your federal student limits, but they can be more difficult to get than federal loans.
Most private student lenders only offer loans to students that have good credit. If you’re young, you probably haven’t had time to build your credit history. That means you’ll need to find someone with good credit who is willing to cosign your loan.
Here are a few lenders that offer loans to part-time students.
College Ave Student Loans
Variable Rates
1.24% – 11.98%
Fixed Rates
4.39% – 12.99%
Loan Amounts
$1,000 – 100% of school-certified cost of attendance
College Ave is an online student lender that offers loans to undergraduate and graduates. With competitive interest rates and a lot of flexibility for borrowers to customize their loans, College Ave ranks as our top-rated lenders.
- Repayment terms: 5, 8, 10, or 15 years
- Repayment options: Full principal & interest, interest-only, flat $25, or deferred payment
- Discounts offered: 0.25% automatic payment discount
- Key features:
- Customize your payment while you’re in school. Choose anything from making full interest and principal payments to deferring payments until you leave school.
- Cosigner release possible after 24 monthly payments.
Sallie Mae
Variable Rates
2.00% – 10.09%
Fixed Rates
4.74% – 11.85%
Loan Amounts
$1,000 – 100%
Sallie Mae is a well-known lender that also offers student loans to part-time students. It offers loans customized to different courses of study, such as undergraduate, MBA, or law school programs, so you can find the loan that works for you.
- Repayment terms: 5 – 15 years
- Repayment options: Interest-only, fixed $25, or deferred payments
- Discounts offered: 0.25% automatic payment discount
- Key features:
- Customize your payment schedule while you attend school, making some payments or deferring until after graduation.
- Four months of Chegg Study, a homework assistance program, free.
- Cosigner release possible after 12 monthly payments.
Wells Fargo
Variable Rates
1.96% – 8.81%
Fixed Rates
4.53% – 10.72%
Loan Amounts
$1,000 – $120,000
Wells Fargo is a major bank that offers student loans to its customers. You can save money with an interest rate discount if you have a Wells Fargo checking account.
- Repayment terms: Not provided
- When repayment begins: 6 months
- Discounts offered: 0.25% for banking with Wells Fargo and 0.25% for automatic payments
- Key features:
- Defer payments until six months after you leave school.
- Cosigner release possible after 24 monthly payments.
When repayment begins for part-time student loans
The type of student loans you have may affect when your repayment period begins:
- For federal student loans, you do not have to make payments while you’re attending college. You also receive a six-month grace period—six months from the time you graduate, drop out, or fall below half-time status, you’ll receive your first bill. If you leave school and return before the grace period ends, you’ll get a new grace period the next time you leave school.
- For private student loans, it’s up to the lender to set the repayment period. The majority of private lenders give you the same six-month grace period that federal loans offer.
Remember, private loans accrue interest the entire time you’re in school, but subsidized federal loans don’t. That means you might want to make some payments on your private loans while you’re in school to reduce the amount of interest that accrues.
Always check with your lender and read the fine print to make sure you know when you’ll get your first bill and how much you’ll owe. That will protect you from any surprises.
Author: TJ Porter
