How To Get Spring Semester Student Loans and Financial Aid

In the 2024-25 school year, the average cost of tuition and fees for full-time students was $11,950 for a four-year, public state school, and $45,000 for a private, nonprofit four-year school, according to the College Board. 

Many people borrow to pay these fees, and they often do so by taking out one loan at the start of the year that covers both semesters. But sometimes, you may need to get a loan for the spring semester. This could happen if you start school in the spring, transfer schools, or realize midway through that you need more money.

When this happens, it's important to know loan application deadlines and the rules for applying for spring semester loans partway through the academic year. 

Current private student loan rates

Can you get a student loan for the spring semester?

Getting a student loan during the spring semester may be possible, but it depends on what kind of loan you're applying for and whether you've missed the application deadline.

“You can apply for student loans for the spring semester, but I would first suggest checking with your school to make sure that you haven’t missed any deadlines, as federal loans may have a deadline that has already passed,” explains Domenick D'Andrea, accredited investment fiduciary (AIF) and co-founder of DanDarah Wealth Management.

If you’ve missed the deadline, getting federal student loans may be off the table for the year. You may still have borrowing options, though, depending on your timeline.

“Private loans don’t have the same deadline issues, but they can take a few weeks to a couple of months to work through the approval process,” says D'Andrea.

If the deadline hasn’t passed for federal or state student loans, you'll also need to meet basic eligibility criteria, such as being a U.S. citizen or eligible noncitizen.

How to apply for spring semester student loans

To apply for spring semester student loans:

• Complete the Free Application for Federal Student Aid (FAFSA) by the deadline: The FAFSA can be completed online and, as a dependent undergraduate, requires both your and your parents’ financial information. You can consent to have your information automatically transferred from the IRS if you filed a U.S. tax return.
• Check with your school's financial aid office: Most schools have a process for preparing a financial aid award for students who enroll in the spring semester, either as a transfer student or a new student. You'll need to find out the deadline for applying and getting a financial aid package. These awards may be made in early fall. 
• Apply for private student loans if necessary: If you can’t get enough federal student loans or missed the federal deadline, you can consider applying with a private lender. Private student loan lenders generally have more flexible deadlines and allow you to apply for student loans for spring only. Just be sure to allow time for application processing, as it can take several weeks or more to get approved and have your funds disbursed. 

Deadlines for spring semester financial aid

The FAFSA has a strict deadline to submit your application, and you must make sure you’ve completed the FAFSA before this date in order to be eligible for federal student loans. If you haven’t completed the FAFSA by the deadline, you’ll be ineligible for federal student loan funds. 

The FAFSA typically opens on October 1, but it has opened earlier and later than this. For example, the 2026-27 FAFSA opened on Sept. 24, 2025. Once open, you generally have almost two years to apply for federal student aid — the 2026-27 federal FAFSA deadline isn’t until June 30, 2027.

However, some types of funding run out, so it's best to complete it as early as possible.

In addition to the federal deadline, there are also deadlines set by your school, which tend to be earlier than those set by the government. Your state will also require completion of the FAFSA by a certain deadline for you to become eligible for grants and scholarships. 

If you’ve missed the deadline and haven’t completed the FAFSA, you typically must wait until it opens up again and apply on time to qualify for the upcoming year.

Private student loans don't have the same strict deadline since you can apply anytime during the year, but you'll need to find out your school's timeline for paying tuition and make sure you apply for loans in enough time for funds to be disbursed. 

Private vs. federal student loans for the spring semester

It is always in your interest to max out federal student loans before taking out any private student loans. That's because federal loans have many benefits compared with private student loans, including:

• Lower fixed interest rates: Interest rates on federal student loans are based on the type of loan you get and the academic year. The rates are fixed and typically lower than those on private loans. 
• Credit requirements: Your credit isn't a factor with most types of federal student loans, while you must meet minimum credit score requirements for private student loans. 
• Borrower protections: Federal loans offer more options for deferment and forbearance than private loans, as well as income-driven repayment plans and access to loan forgiveness. 

While private student loans may have more flexibility around when you can borrow, they can also be harder to qualify for if you don't have solid credentials or someone with those credentials who‘s willing to share responsibility for the loan.  

“For traditional, dependent undergraduate students, private student loans usually require a cosigner,” says Jack Wang, a wealth adviser and host of the Smart College Buyer podcast. 

How to fill funding gaps midyear

If you have a midyear funding gap and can't qualify for student loans to fill it, there are other options to help you pay for college, including:

• Payment plans: Some schools may be willing to work with you to create a payment plan to pay for tuition or other expenses.
• Scholarships: Your school may offer scholarships, or you could explore scholarship options from state programs or private companies. There are online search engines that can help you find scholarships. You should start applying as early as possible since funds are often limited, and scholarships have strict deadlines.
• Refinancing other student loans: Refinancing existing student loans could help free up money you can use to pay for your education if you’re able to get a lower rate. 

Exploring these options can be worthwhile even if you don't have a midyear funding gap, as you may struggle to repay large loan balances, especially if you have a low income upon graduating.