Best Part-Time Student Loans in May 2026

Federal student loans require a minimum of half-time enrollment for eligibility, which generally means taking at least six credit hours each semester. However, even if you're only taking one or two classes, you have options for student loan funding.

Some private lenders offer student loans for part-time students, including those enrolled less than half-time. Lenders like Custom Choice, College Ave, and Ascent stand out for flexible eligibility criteria. However, approval depends on other factors such as your credit profile and whether you apply with a cosigner.

Here's what you need to know about finding the best student loan lenders for your part-time status, including how to qualify and the pros and cons of borrowing a part-time student loan.

Compare current private student loan rates

What is a part-time student?

A part-time student is someone who takes fewer credit hours than the number their school considers a full-time course load.

Being a part-time student usually means moving through a degree program at a slower pace, but it can also offer more flexibility. Students who want to balance school with work, parenting, or other responsibilities often choose part-time enrollment in college. 

However, enrolling part-time can affect your financial aid options. Federal student loans require at least half-time enrollment, and some private lenders prefer borrowers to take more credits.

Part-time vs. full-time students

Your enrollment status is determined by the number of credit hours you're taking. A part-time student is generally one who's taking fewer classes than their school's definition of full-time enrollment. The Department of Education classifies full-time enrollment as at least 12 credit hours and half-time enrollment as at least six credit hours per term.

If your school uses “clock hour” programs or another nonstandard enrollment system, you can contact the school to find out what it considers full-time or half-time. Some schools consider 24 clock hours per week full-time enrollment, while schools with a quarter system may consider 36 quarter hours per academic year to be full-time.

Keep in mind that many lenders prefer to issue larger loans over smaller ones, which may make it more difficult to qualify for a part-time student loan. According to data compiled by Credible, the rejection rate for private student loan applications of less than $2,000 is around 40%, compared with 13% for loan amounts of $15,000 or more.

Can I get federal student loans as a part-time student?

To qualify for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans, you must be enrolled at least half-time in an eligible school and program. If you plan to enroll in fewer classes than this, you unfortunately won't be able to take out a federal student loan.

However, applying for as many scholarships and grants as possible may help you cover the cost of your part-time education. It's still important to submit the FAFSA to find out what other aid you may qualify for.

Tips for finding the best part-time student loans

The following tips can help you find the best private part-time student loans:

1. Prequalify with multiple lenders: Many lenders allow you to prequalify for a loan on their websites without affecting your credit. This is a good way to gauge the interest rate you may be offered.
2. Compare rate quotes: Once you have a few quotes, compare them side by side to determine which is best for your financial situation. Consider factors like interest rates, repayment terms, fees, and discounts.
3. Apply: Once you've selected the right lender for you, formally apply on its website. Note that you'll likely need to provide supporting documentation with your application, such as pay stubs or tax returns.
4. Consider your options after receiving a decision: If the lender denies your application, think about applying with a cosigner or waiting until you've improved your credit before reapplying on your own. You typically need at least a 670 FICO score and a steady income for approval, so holding off until you can meet these requirements, or applying with someone who does, can improve your odds of getting a loan.
5. Only borrow what you need: To minimize the amount of interest you pay, it’s best to only borrow what you truly need for your education. You can use your school’s cost of attendance as a starting point, but be sure to adjust it to your needs. For example, if you plan to live at home with your parents, you can avoid borrowing to cover on-campus housing costs.

How much can I borrow as a part-time student?

If you're enrolled at least half-time, you can borrow up to the annual limit for federal student loans each year, which varies by your year in school, loan type, and dependency status (dependent vs. independent). For example, a first-year dependent undergraduate student can borrow up to $5,500, with no more than $3,500 in subsidized loans. Federal loans also have aggregate limits, and once you meet these, you can't borrow any more funds.

Private student loans generally come with minimum and maximum loan amounts. For instance, Custom Choice offers loans from $1,000 to $225,000. 

Best part-time student loan lenders

How to choose a part-time student loan

It’s typically best to start with federal student loans. But if you’ve exceeded your federal loan limits, you may need to turn to private student loans. When evaluating part-time student loan options, consider the following factors:

• Interest rates: Private student loans can have fixed or variable interest rates, and minimum and maximum rates vary by lender.
• Loan limits: The loan amount you’re offered depends on your credit, enrollment status, cost of attendance, and other factors. 
• Repayment plans: Private lenders may offer the option to make full payments, interest-only payments, or fixed payments while you’re enrolled in school. Check repayment terms for how long you have to repay the loan.
• Borrower requirements: Pay attention to any fees the lender charges. Common fees include late fees, returned payment fees, and insufficient funds fees.
• Cosigner requirements: Find out whether you need a cosigner to get approved for a loan. It's also worth noting if they offer a cosigner release.
• Borrower protections: Not all lenders offer hardship options such as forbearance if you’re struggling to make payments, so it’s a good idea to ask potential lenders about this.

In addition, pay attention to any fees the lender charges, like late fees, returned payment fees, and insufficient funds fees. Look for any discounts the lender offers for enrolling in autopay or meeting other requirements. Rate discounts can help you save on your overall loan cost.

How to take out student loans as a part-time student

If you decide to take out a part-time student loan, follow these four steps:

1. Fill out the FAFSA: To apply for federal student loans and other federal aid, you'll need to complete the Free Application for Federal Student Aid (FAFSA). How much you qualify for in federal student loans will depend on your financial information, enrollment status, dependency status, and what year you are in school.
2. Take any scholarships or grants first: You might qualify for school-specific college scholarships or grants through the FAFSA. Unlike student loans, you won't have to worry about repaying these types of financial aid. You can also find scholarships and grants elsewhere — such as through local or national businesses or nonprofit organizations.
3. Opt for federal loans next: If you still need to borrow money to cover your school expenses, federal student loans are usually a good place to start. This is because federal student loans come with federal benefits and protections, including access to income-driven repayment plans and student loan forgiveness programs. Your school will let you know what federal student loans you're eligible for after you submit the FAFSA.
4. Use private loans to fill the gaps: If you've exhausted your scholarship, grant, and federal student loan options, private student loans could help fill any financial gaps. A private student loan is also likely your only student loan option if you're enrolled less than half-time.

You'll generally need good to excellent credit to qualify for a private student loan. Some lenders offer private student loans for bad credit, but these loans generally come with higher interest rates compared to the rates offered to borrowers with good credit.

If you decide to take out private student loans to pay for school as a part-time student, be sure to consider as many lenders as possible to find the right loan for you.

No matter if you take out federal or private student loans, be sure to consider how much the loans will cost you over time. This way, you can plan for any added expenses.

Alternative financial aid for part-time students

If student loans aren’t an option, you still have other ways to help cover the cost of school: 

• Scholarships: Many scholarships require full-time enrollment, but some private scholarships are available to part-time students. Use scholarship search sites like Fastweb, GoingMerry, and Bold.org to filter through awards for part-time students. 
• Part-time work: Income from a part-time job can help you cover some of your school expenses. Even a few hours a week can make a meaningful difference. 
• Employer tuition reimbursement: Many employers offer tuition reimbursement benefits. Check with your HR department to see what’s available. Keep in mind that these programs often have requirements, such as staging with the company for a certain period after completing your coursework or choosing a program related to your job.

What happens to my student loans if I drop below half-time?

For most federal and private student loans, dropping below half-time status generally means you'll have to begin repaying your loans.

Before you drop any classes, make sure to double-check how it'll affect your enrollment status and whether you'll need to start making student loan payments.

If your student loans have a grace period (typically six months), you'll have that much time before you must start making payments if you drop below half-time.

Why trust Credible?

The Credible editorial team is independent and unbiased. Partners do not influence our editorial content. To help you find the best student loan for your situation, we conduct thorough research and analyze thousands of lender data points. Using data-driven methodologies, we score criteria that are important to you. This allows us to objectively rank student loan lenders and products. To learn more, read our methodology below.

Methodology

To determine the best part-time student loan lenders, Credible collected more than 1,000 points of data on two dozen companies and evaluated them on several different categories: repayment options, eligibility, interest rates, loan terms, and customer support. Based on our findings, we assigned a score out of five stars to each lender. Below are the weightings assigned to the general categories for the best student loan companies — which comprise individual criteria that are also weighted.

• Repayment options: 30%
• Eligibility: 25%
• Interest rates: 20%
• Loan terms: 15%
• Customer support: 10%

While the best lender for you will depend on your unique needs and financial circumstances, these findings should help answer your questions and assist you in your search for the best student loan.

Learn more about our methodology.