Student Loans for Continuing Education

Continuing education courses can help you change careers, increase income, or re-enter the workforce. These courses are often a cost-effective way to enhance your career, but unless you can pay in cash, you must find a way to fund them. 

Student loans can help. Depending on your program and where you attend, you might be eligible for federal, private, or both loans.

Lender	Best for	Our rating
Dept. of Education	Federal student loans	Not rated
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5
Ascent	No cosigners	4.4/5

Am I eligible for student loans for continuing education?

Students who pursue continuing education are eligible for student loans, but eligibility depends on the program they attend and the number of credits they take. 

Most private lenders offer student loans for continuing education, including certificates and non-degree programs. Students enrolled less than half-time at non-eligible institutions are often eligible for private loans but not federal loans.  

Continuing education students also qualify for federal student loans, but it depends on how many units they take and whether the institution is eligible. To qualify for federal student loans, students must take credits that equal at least half-time enrollment—usually six credits—and attend an eligible institution. 

Federal student loans for continuing education

As a continuing education student, you may be eligible for various federal loans, but you must meet the following eligibility requirements. 

1. Enroll at least half-time: To qualify for federal student loans, you must enroll at least half-time—meaning you’re taking at least six credits per semester. 
2. Attend an eligible program: You must also participate in an eligible degree or certification program. You can find potential programs and confirm eligibility using the National Center of Education Statistics’ College Navigator tool.

You must complete the Free Application for Federal Student Aid (FAFSA) to check your eligibility for federal loans. Completing the application means you might be eligible for a federal loan, including Direct Subsidized Loans, Direct Unsubsidized Loans, and PLUS Loans. 

As you search for federal student loans, ask your institution for advice. Most continuing education programs have a financial aid office or counselor who can provide guidance. 

Private student loans for continuing education

If federal loans aren’t an option, or you’ve exhausted all the federal loans you qualify for, private student loans can help with the remainder of these costs. Private lenders often have more flexibility, and some don’t require half-time enrollment. 

You usually need a good credit score to be eligible for a private student loan. You may need a cosigner to help you qualify for the loan if you don’t have a solid credit score. 

Student loans from private lenders often have higher interest rates than federal options, and your credit score affects the interest rate you secure.

Here are the top private student loan lenders for continuing education costs.

Lender	Rates (APR)	Enrollment
College Ave	4.07% – 16.69%	Half-time enrollment
Sallie Mae	4.05% – 16.70%	Part-time enrollment
Ascent	6.22% – 16.08%	Half-time enrollment

College Ave – Best overall

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LendEDU rating: 5.0 out of 5

• Get a $150 reward for completing your program
• Borrow up to 100% of school costs
• Must attend at least half-time

College Ave offers a Career Loan for students pursuing associate degrees and non-degree or certificate programs. The application process is simple, and you can apply with or without a cosigner. As an extra benefit, you’ll score a $150 cash-back bonus that’s applied to your balance when you complete your program.

You can borrow enough to cover the school’s cost of attendance, which usually includes funds for living expenses and school bills. But you must attend at least half-time, typically six to eight units each semester. College Ave also offers a six-month grace period between when you leave school and when your first full payment is due, the standard length for most lenders. 

Sallie Mae – Best for cosigners

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LendEDU rating: 4.8 out of 5

• Quick cosigner release after 12 months of consecutive on-time payments
• Covers up to 100% of certified costs
• Get a decision within 15 minutes

With undergraduate loans, certificate loans, and specialized graduate student loans for various professions, Sallie Mae offers the most options for continuing education. Students can attend less than half-time, which provides additional flexibility. But you’ll still need to meet the lending requirements, which typically include having a solid credit score. 

The Smart Option Student Loan feature for Career Training means you’ll apply once for a year of trade school or professional training costs. Plus, you can release a cosigner after 12 months of on-time payments, faster than most lenders.

Ascent – Best for a soft credit check

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LendEDU rating: 4.4 out of 5

• Can cover up to 100% of total costs
• Check your rate without affecting your credit
• Loans for coding bootcamps

If you’re looking for student loans for continuing education, Ascent has two options: bootcamp and career loans. These loan options are for students attending professional training and certification programs at select schools. Students can also earn 1% cash back after graduating, which can help reduce their loan balance. 

Although Ascent doesn’t disclose a minimum credit score, the company states that student borrowers without cosigners must have at least two years of credit history. The minimum loan amount is $2,000, and the maximum is the total tuition for the program or, in some cases, the estimated living expenses required to complete the program.

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Best private student loans

Other student loan resources related to continuing education

If you’re looking for additional help financing your continuing education, we have more resources to assist you.

See below for a variety of program-specific loans and financing products:

• Student loans for certificate programs: Head here if you’re enrolled in a certification program.
• Student loans for non-degree programs: Check this list if you’re pursuing an education that won’t result in a specific degree or certification.
• Student loans for trade school and career training: Exploring a specific trade or career path? These resources can help.
• Student loans for acting school: If you’re enrolled in a professional acting program or academy, these loan options could help cover the costs.
• Student loans for cosmetology school: Studying to become a hairstylist or makeup artist? These cosmetology program loans might be helpful.
• Student loans for coding bootcamp: Computer coding is one of the most in-demand career paths. Use these resources to help pay for your program.

Our expert’s advice to manage current student loan debt while considering additional loans

Kyle Ryan

CFP®

This all comes down to cash flow and opportunity cost. The first thing to ask oneself is, ‘Why am I seeking continuing education to begin with?’ If the answer is a higher income, look at your cash flow and the cost of continuing education to see whether you can afford it. If you need loans, it requires balancing out what that increased income may be versus the additional cost of the education. Not all fields have a positive return on the cost of education. Deferment of loans is another important consideration. If going to school allows you to defer your loans, will you be able to get a higher-paying job once payments resume that can help you afford the cost of the additional loans?

Alternatives to student loans for continuing education

You have options if you’re not sold on student loans or need additional funds. But before you consider loans or alternatives, research scholarships and grants that offer free money. You might be able to find a scholarship or grant specific to your chosen career path. 

Once you’ve exhausted your free options, consider the following alternatives to student loans for continuing education. 

Your employer is the best place to start! If the continuing education is for your current job, your workplace may be incentivized to help support your career growth.

Kyle Ryan

CFP®

• Check with your employer: Ask your employer whether you qualify for educational benefits. Many companies will cover all or some of the costs of continuing education courses if they relate to your job.
• Consider other loan options: If you need additional funding, you can use a personal loan, a home equity loan, a home equity line of credit (HELOC), or even a 401(k) loan. These loans might have higher interest rates than student loans and don’t have a deferment period, making them more challenging to handle while in school.
• Work a side gig: Depending on your course load and other commitments, consider whether you can work a part-time job or side gig while in school. Earning extra money each month can help offset the cost of tuition. 
• Gift or loan from a family member: If this is something that might be available to you, consider asking for assistance from friends or family in the form of a monetary gift or a loan agreement.

Recap of student loans for continuing education

Lender	Best for	Our rating
Dept. of Education	Federal student loans	Not rated
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5
Ascent	No cosigners	4.4/5