When it comes to financing their education, part-time students have limited options. You must be enrolled at least half-time to be eligible for federal direct loans and many private lenders also require half- (or even full-time) attendance.
CNBC Select analyzed more than a dozen lenders that approve student loans for part-time students to find the best options, based on interest rates, enrollment requirements, repayment terms and more. (See our methodology for more on how we made this list.)
Best for flexible terms: College Ave
- High loan amount
- Flexible repayment terms
- Hardship protections like deferment and forbearance
- No co-signer required for U.S. students
- Offers repayment terms of up to 20 years for graduate student loans (otherwise, up to 15 years for undergraduate loans)
- Co-signer can't be released until half of the repayment term has passed
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. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
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. 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
Who's this for? College Ave is an excellent choice for part-time students seeking flexible terms and affordable rates. You can borrow up to the full cost of attendance.
Standout benefits: College Ave's Peace of Mind policy offers borrowers multi-year loan approval, potentially securing them financing for their entire degree program up front. (More than 90% of applicants with a co-signer are preapproved for future loans.)
Eligibility: College Ave offers part-time student loans to students attending an eligible degree-granting school.
Best for low interest rates: Sallie Mae
- Loans available to part-time and continuing ed students
- Co-signer release after just 12 payments
- No origination fee
- Offers loans for a wide variety of educational needs including: bar study, medical school, residency and relocation costs, dental school, residency and relocation costs, nursing school/health professions, commercial flight school, coding boot camp and professional certifications
- No student loan refinancing
- Doesn't offer parent loans
- Hard credit check to prequalify
- Late payment fee
Who's this for? Sallie Mae stands out for offering part-time students, including those enrolled less than half-time, competitive interest rates and flexible repayment terms.
Standout benefits: Borrowers don't need an established credit score and Sallie Mae will approve online students and those studying abroad, as well as international students and DACA recipients with a co-signer who is a U.S. permanent resident or citizen
Eligibility: Sallie Mae offers loans to students attending less than half-time
Best for half-time students: Earnest
- Nine-month grace period available
- No co-signer required but offers the option to apply with a co-signer
- 0.25% interest rate discount for autopay
- Qualified borrowers can skip one payment every 12 months
- Offers student loan refinancing
- Offers loans for half-time students while still providing benefits received by full-time students (like the skip payment, autopay discount and more)
- No co-signer release option available
- Variable rates not available in all states
Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.60% APR to 10.24% APR (4.35% - 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% - 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and require selection of our shortest term offered (5 years) and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Who's this for? Earnest provides highly competitive student loan terms that you can customize to tailor your loan to your financial needs. However, you need to be enrolled at least half-time to qualify.
Standout benefits: Earnest provides a 100% rate match guarantee with any offer you get from a qualifying lender. Borrowers have a nine-month grace period before payments are due and can skip one payment a year without penalty
Eligibility: Earnest requires students be enrolled at least half-time to qualify for financing.
Best repayment terms: Ascent® Funding
- Considers borrowers with no credit
- High loan limit
- Co-signer release available after just 12 payments
- Up to 1% interest rate discount for autopay*
- 1% cash back rewards*
- Considers alternative requirements like the borrower’s school, program, graduation date, major, GPA, cost of attendance and Satisfactory Academic Progress (SAP) to grant approval
- Maximum fixed APR is on the high side
- Doesn't offer student loan refinancing
Disclosure: *Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 3/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
Who's this for? Ascent Funding offers six repayment terms — more than any other lender on our list — making it a great option for those looking to customize their repayment term options. Borrowers don't need a co-signer and can take advantage of up to two years of financial hardship forbearance.
Standout benefits: Applicants approved for a Non-Cosigned Outcomes-Based Loan® can also get a 1% autopay discount*, while credit-based loans are eligible for a 0.50% discount. Borrowers may also qualify for 1% cash back* at graduation.
Eligibility: Both outcome-based and credit-based borrowers must be enrolled at least half-time in a degree-seeking program.
Who qualifies as a part-time student?
The chief factor in determining who is a part-time or full-time student is the number of credits they are taking in any given semester. Typically, academic institutions consider someone taking 12 or more credits as a full-time student.
Most courses are worth three or four credits each, so taking three or fewer classes a semester would make you a part-time student.
Financing available to part-time students
Part-time enrollment can limit your access to both federal and private loans, grants and other financing.
Federal student loans
Federal aid is available to students attending at least half-time, according to the U.S. Department of Education.
Direct subsidized loans are based on financial need and are available to undergraduate students attending at least half-time. These loans do not accrue interest while you are enrolled or in deferment
Direct unsubsidized loans are not need-based and are available to undergraduate, graduate or professional students. Interest begins accruing immediately.
Direct PLUS loans are available to graduate students, professional students and the parents or guardians of undergraduates. In addition to passing a credit check and meeting federal student aid eligibility requirements, you must be a U.S. citizen (or eligible non-citizen) enrolled at least half-time in an approved program at an eligible institution.
Private student loans
Most private lenders also require borrowers to be enrolled half-time to get approved for student loans and, unlike federal loans, you or your co-signer must have good credit. In most cases, you must be a U.S. citizen or permanent resident attending an approved educational institution.
There may be additional requirements regarding the type of degree program you are enrolled in, as well.
Other financing options
If you're not a full-time student, opportunities for grants and scholarships are severely limited. You may be eligible for Federal Work-Study if you are a U.S. citizen or eligible noncitizen demonstrating financial need and are enrolled at least part-time in a degree-seeking program.
If you work outside of school, your employer may offer tuition reimbursement to offset part or all of the cost of your education. You may be limited to classes relevant to your position or agree to stay on with the company for a set number of years, however, or be required to repay the funds.
How to choose the best part-time student loan
If you've exhausted your federal student loan options or aren't taking enough classes, private student loans are your best bet.
When looking at lenders consider:
- Interest rates: Look for a lender with fixed and variable rates that are competitive.
- Fees: None of the student loan lenders on our list charge origination, application or prepayment fees. Some lenders, like SoFi, also waive late fees.
- Loan amounts: All of the lenders on our list will lend up to the cost of attendance. If you don't need a lot of financing, however, see what the minimum amount you can borrow is and make sure it's not more than you need.
- Credit requirements: If you have weak or no credit, look for lenders that work with borrowers with bad credit or who need a co-signer. In addition, review the terms under which a co-signer can be released. which can range from six months to several years.
- Repayment terms: You may be able to make interest-only or fixed payments while in school, which could reduce the interest you owe later.
- Hardship options: If you're not on sure financial footing, choose a company that lets borrowers request deferment, forbearance, loan refinancing or other forms of assistance.
Student loan FAQs
Can part-time students get student loans?
To be eligible for a Federal Direct Loan, you must be enrolled at least half-time in an eligible institution. In most cases, that means taking at least three undergraduate classes. There are private lenders, however, who will approve applicants attending less than half-time, including Sallie Mae.
What is considered half-time for student loans?
According to the U.S. Department of Education, half-time enrollment is generally defined as six credit hours for undergraduate students and 4.5 credit hours for graduate and professional students. In most cases, that would be the equivalent of two classes for an undergrad and one for an advanced student.
Can I defer my student loans while I'm still in school?
Typically, federal student loans are automatically deferred while you are still enrolled at least half-time and during a six-month grace period after graduation. Some private lenders will also allow you to delay monthly payments (with or without interest) while you are still in school at least half-time, although you should check with your provider.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high quality service journalism and comprehensive consumer advice so they can make informed deciscions with their money. Every student loan review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of student loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Our methodology
CNBC Select analyzed more than 20 national banks, credit unions and online lenders that approved financing for part-time students.
We narrowed down our pool by only considering institutions that didn't charge origination fees or prepayment penalties and that offered an interest rate discount for setting up autopay.
We then compared companies on the following features:
- Loan terms: Each company provides a variety of financing options, including in-school, deferred, interest-only and fixed repayment terms.
- Loan sizes: We considered the minimum and maximum loan amounts available to borrowers, and whether or not a lender advertised its respective loan amounts.
- Preapproval: All of the lenders on our list give borrowers an idea of their interest rate and monthly payment without a hard inquiry on their credit.
- Borrower protections: Lenders with financial hardship protections, including deferment and forbearance, were weighed more heavily.
- Credit requirements/eligibility: We considered the minimum credit scores and income levels required for approval and if the lender allowed for a co-signer.
- Customer service: Every company on our list provides customer service available via telephone, email or secure online messaging. We also opted for lenders with an online resource hub or advice center to help borrowers educate themselves about student loans in general.
- Online experience: We considered whether a lender offered a fast online application process, had a mobile app, online chat and other digital features.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
Based on these criteria, our picks for the best lenders for part-time student loans are
- For flexible terms: College Ave
- For low interest rates: Sallie Mae
- For half-time students: Earnest
- For repayment terms: Ascent
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Disclosure: *Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 3/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
