Best Part-Time Student Loans of 2026
- Full-time is at least 12 credit hours per term. Anything else is part-time.
- Three-quarter-time is nine to 11 credit hours per term.
- Half-time is six to eight credit hours per term.
- Anything less than half of the workload is considered less than half time.
There are also definitions for clock-hour programs, nonstandard-term or nonterm credit-hour programs:
- Full-time enrollment equals 24 semester hours, 24 trimester hours or 36 quarter hours per academic year,
or a prorated equivalent for a program of less than an academic year or 24 clock hours per week. - Less-than-half-time enrollment equals less than half the workload of the minimum full-time requirement.
It’s important to understand what constitutes part time at your school, because your enrollment status affects eligibility for financial aid including grants, scholarships and work-study programs. Academic scholarships may require full-time status and a specific GPA. If you have private student loans with a deferment plan, payments typically start when you drop below full-time status, often with a six-month grace period.
Consult your financial aid office before switching to part time to understand the impact on both college and federal aid. Changing your status can trigger early payments, so check with your lender if you’re unsure.
While a part-time schedule can give you flexibility when pursuing a degree, it may also limit your financial aid options. Students attending school less than half time can’t access federal loans and many private student loans.
Federal Student Loans
If you want a federal student loan: The Department of Education offers three types of federal loans, and all of them require students to enroll at least half time.
- Direct Subsidized Loans. Available to undergraduate students based on financial need. They do not accrue interest while you are in school or during deferment periods.
- Direct Unsubsidized Loans. Available to undergraduate, graduate or professional students. They are not need-based and begin to accrue interest immediately.
- Direct PLUS Loans. Available to graduate and professional students as well as eligible parents of undergraduates. Applicants must meet the Department of Education’s eligibility requirements. PLUS loans require a credit check, but direct subsidized and unsubsidized loans do not.
Private Student Loans
If you want a private student loan: You’ll need to be enrolled at least half time to qualify for most private loans. Private student loans are made by banks, credit unions and other financial institutions, such as online lenders, rather than the government.
“There are some private loan lenders who will make loans to less-than-full-time students,” says James Anderson, principal for enrollment management integrations at Montclair State University in New Jersey.
How to Shop for Part-Time Student Loans
Here is a step-by-step plan to get a part-time student loan.
- Complete and submit the FAFSA. If you are above half-time enrollment, you may qualify for federal student loans, which offer more protections and repayment flexibility than private loans, says Mary Jo Lambert-Terry, chief operating officer and managing partner at Alt Lending, a private student loan refinancing company.
- Check your credit. While undergrads generally don’t have the credit history required to get a loan without a cosigner, students over 21 might. You may be able to clean up errors or flesh out a thin credit file. (Perhaps a family member with good credit can add you as authorized user to one or more credit card accounts.) While many lenders allow credit scores in the mid-600s, it generally takes a score in the 700 range to get the best available rates.
- Find a cosigner. If your credit and income don’t meet lender guidelines, you’ll need a qualified cosigner to get you over the finish line.
- Find private lending options. Enrolling less than half time will limit your private student loan options, but there are a few lenders who offer loans for less than half-time enrollment.
- Compare loan offers. Go through offers from several providers to find the lowest interest rate for which you qualify. Compare loan annual percentage rates, which include origination fees and other lender charges, and use a student loan payment calculator to see how terms and interest rates impact your monthly cost.
Other considerations include:
- Loan uses. You may be able to use private loan funds for school-certified expenses, such as tuition costs, fees, books, housing and meals, and travel and supplies.
- Loan amounts. Lenders usually set minimum and maximum amounts you can borrow based on factors such as your cost of attendance and your creditworthiness.
- Repayment plans. You may be able to make interest-only or fixed payments in school, which could reduce the interest you owe later.
- Deferment options. Most lenders allow you to pause payments while you’re enrolled in school at least half time.
- Hardship options. Private student loans may come with forbearance programs and loan modifications for borrowers who have trouble making payments.
Pros
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Gets you the funds: If you can’t pull off a higher education without financial assistance, a part-time student loan can help make that happen.
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Offers flexibility: Not every student has the ability or time to take on a full class load, and part-time student loans offer funds for the course hours you can manage.
Cons
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Approval not guaranteed: Because some loans aren’t available for students considered half time or less, you may need a certain credit score or a creditworthy cosigner for a part-time loan.
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Less relief: Some part-time loans may not offer ideal deferment, forbearance or discharge options.
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Potentially higher cost: Depending on the loan you choose, you may pay a higher interest rate and/or higher fees than what you might get as a full-time student.
Other Financial Aid Options for Part-Time Students
Students enrolled at least half time can also pay for college using grants, scholarships and employer-paid tuition reimbursement benefits. Enrollment status and other requirements vary with each program.
Grants: Students may apply for need-based federal grants that don’t have to be repaid regardless of enrollment status. Unfortunately, grant awards generally decrease when you’re taking fewer than 12 credits.
“Other types of grants and scholarships, whether state-sponsored, university-provided or from private institutions, will have their own eligibility criteria,” says Amy Lins, vice president of customer success at Money Market International, a nonprofit credit counseling agency.
Try searching for private college grants using CareerOneStop, a free online grant and scholarship search tool from the Department of Labor.
Scholarships: Usually scholarships are merit-based, while grants are often need-based, and both are gifts that don’t need to be repaid. You may qualify for scholarships based on academic, athletic, leadership, artistic or other talents.
“Generally, schools and private scholarship programs (that) offer merit scholarships will require full-time enrollment, but not always,” Anderson says.
Employer-paid tuition reimbursement programs: Your company may cover some or all of the costs of your education as a job perk. Employees who use this benefit are usually enrolled less than half time, Anderson says, because they’re also working full time.
Tuition reimbursement programs typically have company-specific rules you must follow, says Will Geiger, co-founder and CEO of Scholarships360 and former senior assistant director of admissions at Kenyon College.
For instance, Geiger says, the employer may ask you to:
- Work a minimum number of hours weekly to become eligible for the program
- Limit your education to specific academic programs or colleges
- Stay with the company for a certain period of time after completing the degree because, “They are investing in you as an employee and don’t want you to immediately leave for another opportunity,” Geiger says.
There are several types of loans available to part-time students. Eligibility requirements like minimum number of credits vary by program.
Federal student loans require at least half-time enrollment, but you may qualify for some grants, scholarships and private student loans if you plan a lighter academic load.
Requirements for federal student loans: Qualification depends on your family’s financial situation, your academic achievements and extracurricular activities, and your enrollment status – generally, at least six credits per semester. You will need to fill out the Free Application for Financial Federal Student Aid, or FAFSA, each year. Your school will receive the information from your FAFSA and use it to determine your financial aid package.
Requirements for private student loans: Qualification is generally based on your creditworthiness, loan amount, enrollment status and other factors. Lenders may require a creditworthy cosigner and at least a half-time schedule, although some allow less than half time.
You can often apply for student loans with private lenders by completing an online application and consenting to a credit check.
Federal student loans become payable if your enrollment status drops below half-time. However, a number of lenders offer private loans for less-than-half-time students. Eligibility requirements, interest rates, repayment options and loan terms vary by lender, but borrowers must usually apply and pass a credit check or add a cosigner.
