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.)
Compare student loan offers
Best for flexible terms: College Ave
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 financing for their entire degree program upfront. According to College Ave, more than 90% of applicants with a co-signer are preapproved for future loans.
Eligibility: Unlike many lenders, College Ave offers loans to students enrolled less than half-time. Even borrowers taking just one class (3 credits or fewer) may qualify.
- 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-signers can't be released until half of the repayment term has passed
- Charges late fees
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 the 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
Best for low interest rates: Sallie Mae
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.
- 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
Best for half-time students: Earnest
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 on 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 to be enrolled at least half-time to qualify for financing.
- 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 and available repayment terms will vary based on your financial profile. Fixed annual percentage rates (APR) range from 3.04% to 16.74% (2.79% – 16.49% with Auto Pay discount). Variable annual percentage rates (APR) range from 5.24% to 17.10% (4.99% – 16.85% with Auto Pay discount). Earnest variable interest rate student 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 plus a margin and will change on the 1st of each month. 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. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our 0.25% Auto Pay discount from a checking or savings account. Enrolling in Auto Pay is not required as a condition for approval. Interest rates are subject to change.
Best repayment terms: Ascent® Funding
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: Ascent requires that both outcome-based and credit-based borrowers be enrolled at least half-time in a degree-seeking program.
- 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 7/15/2026 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 qualifies as a part-time student?
The primary factor in determining whether a student is considered full-time or part-time is the number of credit hours they take during an academic term.
The U.S. Department of Education generally defines full-time enrollment in an undergraduate program as 12 or more credit hours per semester. Full-time enrollment in a graduate program is is at least nine credit hours per semester.
Undergraduates taking fewer than 12 credits and graduate students taking fewer than nine credits are generally classified as part-time students.
A subset of part-time enrollment, half-time enrollment is often used to determine eligibility for federal student aid and private student loans. For undergraduate students, half-time enrollment is typically at least six credit hours per semester (generally equivalent to two classes).
For graduate programs, half-time enrollment is defined as five to six credit hours.
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 parents or guardians of undergraduates. (As of July 1, 2026, Graduate PLUS loans are no longer available to new borrowers.) In addition to passing a credit check and meeting federal student aid eligibility requirements, applicants must be U.S. citizens or eligible non-citizens enrolled at least half-time in an approved program at an eligible institution.
Private student loans
Most private lenders 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 depending on the type of degree program you are enrolled in.
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 non-citizen 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 and may be required to stay on with the company for a set number of years or have to repay the funds.
If you work while attending school, your employer may offer tuition reimbursement to cover part or all of educational costs related to your job or career path. You may need to remain with the company for a specified period after receiving the benefit to avoid having to repay some or all of the reimbursed tuition.
How to choose the best student loan for part-time students
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 competitive fixed and variable rates.
- 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 who have 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 our pool to institutions that didn't charge origination fees or prepayment penalties and offered an interest rate discount for setting up autopay.
We then compared lenders on the following features:
- Loan terms: Each company on our list 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.
- Preapproval: All the lenders on our list provide borrowers with an idea of their interest rate and monthly payment without a hard credit inquiry.
- Borrower protections: Lenders with financial hardship protections, including deferral and forbearance, were given more weight.
- Eligibility requirements: We considered the minimum credit scores and income levels required for approval. We also noted if a lender allowed for a co-signer.
- Customer service: Every company on our list provides customer service via telephone, email or secure online messaging. We also opted for lenders with online resource hubs or advice centers to help borrowers learn about student loan financing.
- Online experience: We considered whether a lender offered an easy-to-complete online application process, a mobile app, online chat feature 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 7/15/2026 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.
