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Attending community college is generally much less expensive than a traditional four-year degree. But even with the savings, you might still need student loans or other financial aid to pay for it.
Here’s what you should know about getting student loans for community college:
- 8 private student loans for community college
- How to get student loans for community college
- Federal student loans vs. private student loans
- What can student loans be used for?
- Can community college students get student loans?
- Can you go to community college for free?
- What is the average cost of community college?
8 private student loans for community college
If you decide to take out a private student loan for community college, it’s important to consider as many lenders as possible. This way, you can find the right loan for your needs.
Here are Credible’s partner lenders that offer private student loans for community college:
| Lender | Fixed Rates From (APR) | Variable Rates From (APR) | Loan amounts | Loan terms (years) |
|---|---|---|---|---|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 4.62%+10 | 5.86%+10 | $2,001 to $400,000 | 7 to 20 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 4.99%+1 | 5.1%+ | $1,000 to $350,000 (depending on degree) | 5, 10, 15 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
4.74%+2,3
| 4.74%+2,3 | $1,000 up to 100% of the school-certified cost of attendance | 5, 8, 10, 15 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.65%+ | 5.67%+ | $1,000 to $99,999 annually ($180,000 aggregate limit) | 7, 10, 15 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 7.52%+7 | 6.99%+7 | $1,000 to $200,000 | 7, 10, 15 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 4.37%+8 | 5.86%+8 | $1,001 up to 100% of school certified cost of attendance | 5, 10, 15 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 4.89%+ | N/A | $1,500 up to school’s certified cost of attendance less aid | 15 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 4.509 - 14.83%9 | 5.49%9 - 15.83%9 | $1,000 up to 100% of school-certified cost of attendance | 10 to 20 |
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your credit score. 100% free! |
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Ascent
Ascent offers student loans from $2,001 to $400,000 with repayment terms from five to 20 years. Additionally, borrowers who complete their degree within five years could be eligible for a 1% cashback graduation reward.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Lowest fixed rate available from this lender
Lowest variable rate available from this lender
Total amount you can borrow from this lender
How many years you have to repay the loan
Ready to find a student loan?
Compare rates from top private lenders to find the right student loan for you.
Pros
- 1% cashback graduation reward
- 0.25% autopay discount
- Cosigner release offered after 24 consecutive, on-time payments
Cons
- $200,000 aggregate limit, which might not be enough if you plan to transfer from community college to another more expensive program
- Ascent Non-Cosigned Future Income-Based Loans not available for community college students
- Must have at least two years of sufficient credit history to apply without a cosigner
Citizens
With Citizens, you can borrow as little as $1,000 up to 100% of your school’s cost of attendance with terms from five to 15 years.
If you already have an account with Citizens, you could get a 0.25% rate discount — plus another 0.25% off your rate if you sign up for automatic payments.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Lowest fixed rate available from this lender
Lowest variable rate available from this lender
Total amount you can borrow from this lender
How many years you have to repay the loan
Ready to find a student loan?
Compare rates from top private lenders to find the right student loan for you.
Pros
- 0.25% autopay discount
- 0.25% loyalty discount
- No application, origination, or disbursement fees
Cons
- Might be hard to qualify if you don’t have good credit
- Doesn’t disclose minimum income requirements
- Long cosigner release period (36 months)
College Ave
College Ave student loans range from $1,000 up to 100% of your school-certified cost of attendance (minus any other financial aid you’ve received) with terms from five to 15 years.
Additionally, parent borrowers have the option to receive up to $2,500 of the loan directly, allowing you to control your child’s spending on various expenses.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Lowest fixed rate available from this lender
Lowest variable rate available from this lender
Total amount you can borrow from this lender
How many years you have to repay the loan
Ready to find a student loan?
Compare rates from top private lenders to find the right student loan for you.
Pros
- Might be able to borrow up to your school’s cost of attendance
- 0.25% autopay discount
- No application, origination, or disbursement fees
Cons
- Doesn’t disclose minimum income or credit requirements
- Can’t apply for cosigner release until more than half of the repayment term has elapsed
- Income for the past two years must be more than twice your outstanding loan balance to qualify for cosigner release
Custom Choice
The Custom Choice Loan is available from $1,000 to $99,999 annually ($180,000 aggregate limit) with a three- or five-year term. Also, you could get a 2% principal reduction on your loan if you graduate with at least a bachelor’s degree.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Lowest fixed rate available from this lender
Lowest variable rate available from this lender
Total amount you can borrow from this lender
How many years you have to repay the loan
Ready to find a student loan?
Compare rates from top private lenders to find the right student loan for you.
Pros
- 0.25% autopay discount
- Offers small loan amounts
- Can use loan funds to cover past-due balances
Cons
- Doesn’t disclose minimum income requirements
- Limited repayment terms (only three or five years)
- Not available in Arizona, Iowa, or Wisconsin
EDvestinU
EDvestinU is a nonprofit organization that offers student loans from $1,000 up to 100% of your school’s cost of attendance ($200,000 aggregate limit) with terms from seven to 15 years.
If you sign up for automatic payments, you could get a 0.25% rate discount.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Lowest fixed rate available from this lender
Lowest variable rate available from this lender
Total amount you can borrow from this lender
How many years you have to repay the loan
Ready to find a student loan?
Compare rates from top private lenders to find the right student loan for you.
Pros
- Might be able to borrow up to your school’s cost of attendance
- 0.50% autopay discount
- No application, origination, or disbursement fees
Cons
- Might be hard to qualify if you don’t have excellent credit
- Borrower or cosigner must have a minimum income of $30,000
- Long cosigner release period (36 months)
INvestEd
If you live in or attend school in Indiana, INvestEd might be a good option for private student loans. You can borrow $1,001 up to 100% of your school’s cost of attendance (minus any other financial aid you’ve received) with terms from five to 15 years.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Lowest fixed rate available from this lender
Lowest variable rate available from this lender
Total amount you can borrow from this lender
How many years you have to repay the loan
Ready to find a student loan?
Compare rates from top private lenders to find the right student loan for you.
Pros
- Might be able to borrow up to your school’s cost of attendance
- 0.25% autopay discount
- Offers college planning and financial aid resources to help students and families
Cons
- Only available to borrowers living or attending school in Indiana
- Long cosigner release period (48 months)
- Charges late and returned payment fees
MEFA
The Massachusetts Educational Financing Authority (MEFA) offers fixed-rate loans from $1,500 or $2,000 (for a public or private school, respectively) up to your school-certified cost of attendance (minus any other financial aid you’ve received).
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Lowest fixed rate available from this lender
Lowest variable rate available from this lender
Total amount you can borrow from this lender
How many years you have to repay the loan
Ready to find a student loan?
Compare rates from top private lenders to find the right student loan for you.
Pros
- Might be able to borrow up to your school’s cost of attendance
- Fixed rates mean your payments won’t ever change
- No application, origination, or disbursement fees
Cons
- Doesn’t offer variable rates
- Long cosigner release period (48 months)
- Cosigner release available only on 15-year undergraduate loans with deferred payments
Learn More: How to Get a Student Loan in 3 Easy Steps
Sallie Mae
With Sallie Mae, you can borrow $1,000 up to 100% of school-certified cost of attendance with terms from 10 to 20 years. Additionally, borrowers can apply for cosigner release after just 12 months of consecutive, on-time payments.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Lowest fixed rate available from this lender
Lowest variable rate available from this lender
Total amount you can borrow from this lender
How many years you have to repay the loan
Ready to find a student loan?
Compare rates from top private lenders to find the right student loan for you.
Pros
- Might be able to borrow up to your school’s cost of attendance
- 0.25% autopay discount
- Cosigner release available after just 12 months
Cons
- Doesn’t disclose minimum income or credit requirements
- Rates can be higher compared to other lenders
- Charges late fees
Also see: 7 Student Loans with Cosigner Release
How to get student loans for community college
If you’re ready to take out a student loan for community college, follow these four steps:
- Fill out the FAFSA. Community college students are eligible for federal financial aid just like students of four-year colleges — which means your first step should be filling out the Free Application for Federal Student Aid (FAFSA). Your school will use your FAFSA results to determine what federal student loans and other federal aid you’re eligible for.
- Apply for scholarships and grants. Unlike student loans, college scholarships and grants don’t have to be repaid. Additionally, there’s no limit to how many you can get, so be sure to apply for as many scholarships and grants as possible. You might also qualify for scholarships from your school depending on your FAFSA information.
- Accept federal student loans. Once you fill out the FAFSA, your school will send you a financial aid award letter detailing what federal student loans and other federal financial aid you’re eligible for. You can then choose which aid you’d like to accept.
- Use private loans to fill the gaps. After you’ve exhausted scholarship, grant, and federal student loan options, private student loans can help fill any financial gaps left over. Be sure to consider as many lenders as you can to find a private student loan that best suits your needs.
If you’re struggling to get approved, consider applying with a cosigner to improve your chances. Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own.
See: The Pros and Cons of Student Loans: Are They Worth It?
Check Out: Fixed- or Variable-Rate Student Loan: Which Is Right for You?
Federal student loans vs. private student loans
While both federal and private student loans could help you pay for a community college program, here are important differences between the two to keep in mind:
- Federal student loans are offered by the Department of Education and come with fixed interest rates set by Congress. Additionally, federal student loans provide federal benefits and protections, such as access to income-driven repayment plans and student loan forgiveness programs.
- Private student loans are offered by private lenders, each of which sets its own eligibility requirements, rates, and terms. Keep in mind that private loans don’t come with federal protections. However, they do offer some benefits of their own — for example, you might be able to borrow up to your school’s cost of attendance, and you don’t have to worry about application deadlines.
| Loan type | Who qualifies? | Interest rates (2020-21) | Loan limits |
|---|---|---|---|
| Direct Subsidized Loans | Undergrad students with financial need | 3.73%* | $3,500 to $5,500 per year |
| Direct Unsubsidized Loans | Undergrad, graduate, and professional students | Undergrad: 3.73%* Graduate and professional: 5.28%* | Dependent undergrad: $5,500 to $7,500 per year ($31,000 total limit) Independent undergrad: $9,500 to $12,500 per school year ($57,500 total limit) Graduate and professional: $20,500 per year ($138,500 total limit) |
| Parent PLUS Loans | Parents | 6.28%* | Cost of attendance minus any other financial aid received |
| Private student loans | Undergrad, graduate, and professional students with:
| Varies | Up to school’s cost of attendance (depending on the lender) |
| *Federal student loan rates for the 2021-22 academic school year. | |||
Learn More: Guide to Every Type of Student Loan Offered
What can student loans be used for?
Student loans can be used to cover a variety of education expenses, including:
- Tuition
- Fees
- Books and supplies
- Room and board (on or off campus)
- Living expenses
- Transportation
You can find out how much you’ll owe over the life of your federal or private student loans using our student loan calculator below.
Enter your loan information to calculate how much you could pay
With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan, assuming you're making full payments while in school.
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Check Out: Is My College Housing Covered by Financial Aid?
Can community college students get student loans?
Yes, community college students can get student loans. However, keep in mind that there are different requirements for federal and private student loans.
To be eligible for a federal student loan, you must:
- Demonstrate financial need (for most programs)
- Be a U.S. citizen or eligible noncitizen
- Have a valid Social Security number
- Be enrolled or accepted for enrollment in an eligible degree or certificate program
- Be enrolled at least half-time at an accredited school
To qualify for a private student loan, you’ll typically need:
- Good to excellent credit (or a creditworthy cosigner)
- Verifiable income
- Low debt-to-income ratio
Learn More:
Can you go to community college for free?
As of 2021, there are 19 states that offer tuition-free community college via grant programs. Some states provide first-dollar funding, which provides tuition fee waivers regardless of any other financial aid the student has received.
And other states offer last-dollar funding, which fills financial gaps left over after the student after the student applies for other financial aid.
Here are the states that provide tuition-free programs:
| Arkansas | Arkansas Future Grant |
| California | |
| Connecticut | New Haven Promise |
| Delaware | Student Excellence Equals Degree (SEED) |
| Hawaii | Hawai’i Promise Program |
| Indiana | 21st Century Scholars Program |
| Kentucky | Work Ready Kentucky Scholarship Program |
| Maryland | Maryland Community College Promise Scholarship |
| Massachusetts | City of Boston Free Tuition Program |
| Missouri | A+ Scholarship Program |
| Montana | Montana Promise Grant Program |
| New York | Excelsior Scholarship Program |
| Nevada | Nevada Promise Scholarship |
| Oklahoma | Oklahoma’s Promise |
| Oregon | Oregon Promise |
| Rhode Island | Rhode Island Promise |
| Tennessee | Tennessee Promise |
| Virginia | Get Skilled, Get a Job, Give Back |
| Washington |
Check out: 8 Best Small Student Loans
Scholarships for community college students
There are also several scholarships available that could help you pay for a community college program, such as:
- Horatio Alger Association of Distinguished Americans, Inc. Career and Technical Education (CTE) Scholarships: These awards are specifically geared toward students who plan to earn a CTE degree or certificate at a nonprofit community college or technical school.
- Hispanic Scholarship Fund Scholar Program: If you plan to transfer from a community college to a four-year school and are of Hispanic heritage, you might qualify for this award.
- Sallie Mae Fund’s Bridging the Dream Scholarship Program: This award is available to high school seniors with financial need who plan to attend college or a vocational-technical school.
Check Out: Student Loan Limits: How Much in Student Loans You Can Get
What is the average cost of community college?
Community college programs tend to be significantly cheaper than four-year schools. The average cost of community college was $12,850 for the 2020-2021 school year, according to the College Board.
In comparison, here’s how the average cost of college at a traditional four-year school breaks down:
- In-state student: $25,890
- Out-of-state student: $41,950
- Private school: $52,500
If you decide to take out a private student loan to cover your community college costs, remember to consider as many lenders as possible to find the right loan for you.
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