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Going to school at night after working a day job? Don’t want to commit to full-time enrollment? You still have options to fund your degree as a part-time student. Federal loans are typically the easiest to qualify for on your own since they don’t require a credit check for undergraduate students. But if you fall below half-time enrollment, you’ll have to stick to your private student loan options.
To qualify for most student loans — both federal and private — you only need to be a part-time student. Here are a few options to consider:
Loan amounts | APRs | Terms | Eligibility requirements | ||
---|---|---|---|---|---|
Federal Direct Subsidized Loan | Dependent and independent students:
|
| 10 to 25 years |
| Learn more |
Federal Direct Unsubsidized Loans | Dependent undergraduate students:
Independent undergraduate students:
|
| 10 to 25 years |
| Learn more |
Sallie Mae Smart Option Student Loans | $1,000 up to 100% of the school-certified cost of attendance |
| 5 to 20 years |
| Read review |
Wells Fargo Undergraduate Private Student Loans | $1,000 up to 100% of the school-certified cost of attendance |
| 15 to 20 years |
| Read review |
College Ave Undergraduate Student Loans | $1,000 up to 100% of the school-certified cost of attendance |
| 5 to 20 years |
| Read review |
The process for applying varies depending on the type of loan you’re looking at. For federal loans, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA) on the Federal Student Aid website. Give yourself at least an hour to fill out the application for the first time. To speed up the process, we recommend gathering all of the required documents and information ahead of time.
Most private student loan providers have online applications you can fill out on their website. Private lenders conduct a credit check when you apply, so try prequalifying with a few different lenders before filling out a full application to find the best deal available to you.
Always keep an eye on your enrollment status. For federal loans, you must attend school at least part time to qualify. If you need to take fewer classes and fall below part time, stick to private student loans.
If private student loans are your only option, keep these factors in mind when comparing lenders:
Loans aren’t your only option to cover the cost of going to college. Here are three other ways to pay for school:
Being a part-time student doesn’t mean you have to settle for partial funding. You have a slew of both private and federal student loan options to help fund your degree at your own pace. You can learn more about how it all works with our guide to student loans.
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