If you're going back to school to learn a trade, your biggest question is likely, "How will I pay for it?"
If you've maxed out on federal aid, some lenders offer private student loans designed for trade school, though they may be called career training loans or something similar.
CNBC Select has named the best loans for trade school, based on features like affordability, repayment options, discounts and more. You can read our methodology to learn more about how we made our selections.
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Best student loans for trade schools
Best for low rates: Sallie Mae
Who's this for? Sallie Mae offers some of the lowest interest rates of lenders we researched, offering student loans for professional training or certificates in culinary, aviation and technical courses. Sallie Mae offers both fixed- and variable-rate loans: choose a fixed-rate loan for predictable monthly payments and a variable-rate loan if you think rates could fall lower and you want to be able to take advantage with good credit. You can qualify for Sallie Mae loans whether you're attending full-time, half-time or less, studying online or in person, studying abroad and/or taking professional certification courses.
Standout benefits: Borrowers seeking student loans for trade school can borrow up to 100% of the cost of attendance. Sallie Mae doesn't charge an origination fee and you can apply with a co-signer.
- 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 autopay discount: Ascent
Who's this for? Ascent offers a Career Training Loan with a 1.00% interest rate discount for signing up for autopay. Most lenders offer autopay discounts ranging from 0.25% to 0.50%, so Ascent's 1.00% rate reduction is hard to ignore. The lender's career training loans can cover up to 100% of tuition.
Standout benefits: There are no prepayment penalties for paying off your career training loan before the repayment term ends, and Ascent offers a free training platform called AscentUP to help students prepare to step into their careers.
- 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.
Best for income-based repayment plan: Edly
Who's this for? Edly's Career Training Loans are available with or without a co-signer. They're for students pursuing certificates and/or professional training in allied health, coding bootcamps and more. With Edly, borrowers can make income-based repayments once finishing school, meaning their payments adjust based on their income.
Standout benefits: Edly offers a co-signer release option after the eligible student makes six consecutive, in-full, qualifying post-training payments. Also, borrowers can apply for loan forbearance if they lose their job or make below $30,000 annually.
Edly Student Loans
Eligible borrowers
Qualifying juniors, seniors and graduate students
Loan amounts
$2,000 up to $15,000 per academic year and up to $10,000 for summer terms; ($20,000 lifetime limit)
Loan terms
84 months
Loan types
Variable
Borrower protections
Deferment and forbearance; all loans are based on income-based repayment
Co-signer required?
No
Terms apply.
Pros
- Considers borrowers' schooling and programs
- All loan payments are income-based
- Hardship protections available
- No co-signer required
- Student success team and career counselors available for support
Cons
- Only 7-year loan terms
- Only variable-rate loans
- Not available in every state
- Non-cosigned loans tend to charge higher interest rates
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FAQs
Can I use federal student loans to pay for trade school?
Yes, you can use federal student loans to pay for trade school, provided the institution you enroll in is accredited and participates in the federal student aid program.
Why trust CNBC Select?
At CNBC Select, our mission is to deliver high-quality service journalism and comprehensive consumer advice to our readers, enabling them to make informed financial decisions. Every student loan list 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 independently of our commercial team and any outside third parties, and we pride ourselves on maintaining high journalistic standards and ethics. See our methodology for more information on how we choose the best student loans for trade schools.
Our methodology
To determine the best student loans for trade schools, CNBC Select reviewed dozens of private student loan lenders. To narrow down our list, we focused on the following features:
- Whether the loan could be used to cover trade school or career training/professional certificate costs
- Eligibility requirements
- Maximum and minimum loan amounts
- Interest rates (fixed or variable)
- Loan terms
- Repayment options
- Borrower protections, including grace periods, deferment and forbearance
- Bonus features, like autopay discounts
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
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