Student Loans for Culinary School

Culinary school is often considered a trade school or vocational school rather than a traditional college or university, but it can still be an expensive education. 

Depending on where you attend, and the length of your program—certificates and degrees can range from six months to four years—it can cost tens of thousands of dollars.

If you’re a culinary student, you may be able to get student loans to cover the cost of your certificate or degree program. Here’s what you need to know.

In this guide:

• Can you get student loans for culinary school?
• How to apply for culinary school student loans

Can you get student loans for culinary school?

You may be able to take out student loans for eligible expenses at culinary school. However, keep the following in mind before you choose an institution.

Accreditation

Ensure the school is accredited, which means the institution meets certain academic standards set by an agency recognized by the U.S. Department of Education. The school may also need to meet other requirements from the federal agency or private lenders.

Federal or private student loans

If you can, it’s ideal to prioritize federal student loans over private student loans. 

Most federal student loans don’t require a credit check and offer a standardized interest rate for all who qualify. In contrast, many private loans require a full credit check, and your approval and loan terms will depend on your creditworthiness and income.

Federal student loans come with various relief options for eligible borrowers, including loan forgiveness programs, income-driven repayment plans, and generous forbearance and deferment options. Private lenders may offer forbearance and deferment, but the terms are less beneficial for borrowers.

>>Read more: What student loans can be used for

Can federal student loans be used for culinary school?

You may qualify for federal student loans to attend culinary school if the institution is on the Federal School Code List of Participating Schools. If you don’t see your school listed, look into alternatives to federal loans to cover your costs. 

You also must meet other federal aid eligibility requirements, including:

• Be a U.S. citizen or eligible noncitizen.
• Have a valid Social Security number (with certain exceptions).
• Be enrolled in an eligible degree or certificate program.
• Attend school on a half-time basis at minimum.
• Maintain satisfactory academic progress.

If you’re unsure whether your school and program are eligible for federal student loans, contact the educational institution about your options. 

If eligible, you may get Subsidized student loans, where the federal government pays your accrued interest while you’re in school and during deferment periods. If not, you can get Unsubsidized loans. 

Here’s a quick summary of the terms for the current school year:

Federal student loans
Annual loan limits	$5,500 – $12,500 annually, depending on your dependency status and year in school
Aggregate loan limit	$31,000 or $57,500, depending on your dependency status
Interest rates	4.99%
Upfront loan fee	1.057%
Repayment terms	10 years, with options to extend up to 30 years

How to find out whether your culinary school is accredited

Check the Federal School Code List of Participating Schools to see whether your school is accredited and eligible for federal student aid. If you want to be certain, you can also check with your school’s financial aid office.

In addition to financial aid eligibility, it’s wise to attend an accredited school because you’ll enjoy a higher level of academic standards and professionalism, you’re guaranteed to learn the necessary skills for certification, and you’ll have a better chance of landing a job after graduation.

Can private student loans be used for culinary school?

Unlike federal student loans, the terms for private student loans can vary by lender. As such, each lender may have its own rules regarding eligible schools. 

Most private lenders don’t offer specialized loans for culinary school, as with medical school or law school. However, you can contact individual lenders to ensure the school you’re considering is on its list. 

We’ve researched five lenders that offer student loans for select culinary schools and programs.

Ascent Funding

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Career and Professional Training Loans

• Cover up to 100% of costs 
• Check your rate without affecting your credit
• No fees on undergraduate loans

Ascent offers cosigned and non-cosigned loans for undergraduate, graduate, professional, and career program students.

Its Career and Professional Training Loan is a fixed-rate product available to students at eligible culinary schools.

Key features:

• Annual loan limit: $2,001 up to the total cost of attendance 
• Aggregate loan limit: $400,000
• Interest rates (APR): Not disclosed
• Repayment options: Interest-only, $25 fixed in-school, or deferred
• Repayment terms: 5 – 15 years
• Fees: Late fee (the lesser of $10 or 5% of the unpaid amount); $15 returned payment fee
• Cosigner release: Yes, after 12 consecutive on-time payments and other requirements
• Notable benefits: 9-month grace period; 1% cash-back graduation reward; may qualify without a cosigner

College Ave

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Career Student Loans

• Cover up to 100% of your cost of attendance
• Get an instant credit decision in just 3 minutes
• Choose from 16 repayment schedules

College Ave offers student loans with low rates and flexible repayment terms. Choose between a fixed and variable interest rate.

You can use its career training loan to pay for culinary school.

Key features:

• Annual loan limit: $1,000 – $150,000
• Aggregate loan limit: None
• Fixed interest rate (APR): 3.99% – 14.96%
• Variable interest rate (APR): 3.99% – 14.86%
• Repayment options: Immediate, interest-only, $25 fixed, or deferred
• Repayment terms: 5 – 15 years
• Fees: Late fee (the lesser of $25 or 5% of the unpaid amount); $25 returned payment fee
• Cosigner release: Yes, after 24 consecutive on-time payments and other requirements
• Notable benefits: Multiyear approval

Earnest

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Undergraduate Student Loans

• No fees
• Check your loan eligibility without a hard credit check
• Quick application process looks beyond your credit score

Earnest offers private student loans at competitive rates.

The company stands out in the private student loan space because it offers a variety of loan repayment options, it uses a broader method of evaluating a borrower’s eligibility beyond just credit scores, and borrowers can manage their account via its mobile app.

Key features:

• Annual loan limit: $1,000 up to the total cost of attendance
• Aggregate loan limit: None
• Fixed interest rate (APR): Starting at 4.79%
• Variable interest rate (APR): Starting at 4.79%
• Repayment options: Immediate, interest-only, $25 fixed, or deferred
• Repayment terms: 5 –15 years
• Fees: None
• Cosigner release: No
• Notable benefits: 9-month grace period; matches competitor rates

Sallie Mae

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Career Training Smart Option Student Loans

• Cosigner release after 12 consecutive, on-time payments
• Up to 100% of costs are covered
• No fees

Sallie Mae offers a Smart Option Student Loan for Career Training. Designed for trade schools and other professional training programs, this loan will cover the total cost of culinary school.

Key features:

• Annual loan limit: $1,000 up to the total cost of attendance
• Aggregate loan limit: None
• Fixed interest rate (APR): 5.37% – 15.70%
• Variable interest rate (APR): 4.50% – 14.83%
• Repayment options: Interest-only, $25 fixed in-school, or deferred
• Repayment terms: 10 or 15 years
• Fees: Late fee (the lesser of $25 or 5% of the unpaid amount); returned payment fee of up to $20
• Cosigner release: Yes, after 12 consecutive on-time payments and other requirements
• Notable benefits: Doesn’t require half-time enrollment; offers lower rate on interest-only payment plans

SoFi

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Undergraduate Student Loans

• Apply online in minutes
• Check your rate without affecting your credit score

SoFi brands its offerings as unique from other online lenders because it looks beyond credit scores and debt-to-income ratios, considering factors such as cash flow, education, and career prospects.

Key features:

• Annual loan limit: $1,000 up to the total cost of attendance
• Aggregate loan limit: None
• Fixed interest rate (APR): 4.49% – 13.80%
• Variable interest rate (APR): 4.62% – 13.07%
• Repayment options: Immediate, interest-only, $25 fixed, or deferred
• Repayment terms: 5, 7, 10, or 15 years
• Fees: None
• Cosigner release: Yes, after 24 consecutive on-time payments and other requirements
• Notable benefits: Unemployment protection program; discounts on other SoFi products and services

How to apply for culinary school student loans

Federal loans

If your culinary school is eligible for federal student loans, start by filling out the Free Application for Federal Student Aid (FAFSA). This will allow you to determine your eligibility for federal loans and other forms of federal financial aid. 

Some forms of federal financial aid are on a first-come, first-served basis, so it’s best to submit your FAFSA as soon as possible after it becomes available—October 1 for the upcoming school year.

Private loans

If you also apply for private student loans, start by shopping around and getting rate quotes from multiple lenders to compare your options. If your credit history and income aren’t good enough to get approved on your own, or the interest rates are too high, consider asking a parent or loved one to cosign your application.

Once you decide on a lender, you can apply on its website. You’ll provide basic information about yourself and your school, proof of income and employment, a government-issued ID, and other documents.

It can take several weeks for private lenders to review your application and certify it with your school, so it’s best to apply at least a few weeks before your academic term begins.