10 Best Part-Time Student Loans

College Ave is a reputable lender and known for a customized approach to student lending. They specialize in providing custom private student loans, including for part-time students, and refinancing options for undergraduate and graduate students as well as parents.

College Ave offers competitive interest rates, starting as low as 4.44% AOR, and they can cover up to the full cost of attendance certified by your school. The repayment terms are flexible, with options spanning up to 15 years. Borrowers have the choice of full deferment, $25 monthly payments, or interest-only payments.

After making 24 full and consecutive payments, borrowers can request a cosigner release, providing them with increased financial independence and autonomy.

Since its start in 1972, Sallie Mae has become one of the most recognized private student loan lenders in the US. It has a wide range of loan options for undergraduates, graduates, parents, and those pursuing career training.

Sallie Mae provides up to 100% of your school-certified cost of attendance. For borrowers seeking cosigners, Sallie Mae stands out by offering the fastest route to cosigner release.

Their multiyear advantage ensures favorable approval chances for current borrowers who have cosigners. Starting at an interest rate of 4.50%, Sallie Mae’s loan options come with flexible repayment terms, which can extend up to 20 years.

Borrowers can also enjoy a 0.25% interest rate reduction for enrolling in automatic payments. Sallie Mae provides several deferment options, including full deferment, $25 monthly payments, or interest-only payments.

Students are granted a six-month grace period before repayment begins, and for those with cosigners, cosigner release is made available after making 12 payments.

Earnest is a fintech lender founded in 2013 and a leader in student loan refinancing. They added private student loans to their list of products in 2019 and are known for their transparency when it comes to loan requirements – making it easy for students to see what they qualify for.

Earnest offers repayment periods of up to 15 years with the option of full deferment, fixed repayments, and interest-only payments. Loan rates start at 4.45% and you can borrow up to 100% of your school-certified cost of attendance.

There is also a nine-month grace period, but there is no cosigner release.

Citizens Bank is one of the largest banks in the U.S. and was founded in 1828. The bank offers private student loans and refinancing, as well as personal and business financing products. Citizens Bank offers multi-year approvals, enabling students to fund their four-year stay in college with only one application.

Undergraduate loans start at 4.43% APR with repayment periods of up to 15 years. Getting a quote takes a few minutes and doesn’t require a hard credit check.

Private student loans from Citizens Bank are available from $1,000 up to the total cost of education. Cosigners are optional and there are no origination fees, no application fees, and no penalty fees for early repayment.

Ascent is an online lender founded in 2015, and they offer undergraduate and graduate student loans to borrowers who don’t meet the eligibility requirements of most lenders. They don’t require students to be U.S. citizens or permanent residents, making them a very popular lender among international students.

Ascent is a good loan option for trade schools as they offer cosigned and non-cosigned private student loans that cover up to 100% of the attendance cost of the trade school.
They offer flexible repayment terms of up to 20 years, with fixed APRs starting at 4.62% and a 1% cash-back graduation reward when borrowers meet certain criteria.

SoFi is a personal finance company and bank founded in 2011. As a leader in student financing, the company offers private student loans and refinancing, as well as other financial products like personal loans and credit cards.

SoFi was the first lender to refinance private and federal student loans together. They also offer free career coaching and getting a rate estimate won’t affect your credit.

Student loans from SoFi come with rates starting at 4.99% and repayment terms of up to 20 years. Repayment options include interest-only, flat-fee, and deferred. There are no late fees, prepayment penalties, or application fees.

Cosigner releases are available after 24 on-time, full monthly payments.

Founded more than 40 years ago, Massachusetts Educational Financing Authority (MEFA) provides private student loans as low as $1,500, which is ideal for students who only have a small funding gap to complete their studies.

With MEFA you can get an instant decision on applications. Their fixed interest rates start at 5.35% with repayment periods of up to 15 years. There are no prepayment penalties, no origination fees, and no application fees for their student loans.

MEFA offers a range of repayment options including interest-only payments while in school, and a deferment option with a six-month grace period after graduation.

Cosigner release is available after 48 consecutive, on-time payments.

Founded in 2000, Discover Bank is an online bank owned by Discover Financial Services. With a history of almost 40 years, they offer a range of financial products, including private student loans to international students.

With Discover, international and DACA students can qualify with a U.S. citizen or permanent resident as cosigner. You can borrow up to 100% of the school-certified cost of attendance, which can include books, tuition, housing, and more.

One benefit that stands out is that borrowers with a 3.0 GPA or higher can receive 1% of their loan amount as a cash reward.

There are no late fees and fixed rates start at 4.49% APR. Loan repayment periods are available up to 20 years and there are multiple repayment periods available.

Founded in 1962, EDvestinU is a nonprofit student loan lender and part of the New Hampshire Higher Education Loan Corp. They offer undergraduate and graduate student loans to residents in 20 U.S. states and Puerto Rico. EDventinU is a good option for international students with a cosigner who want to attend a trade school in the U.S.

They offer fixed loan rates starting at 6.25% and you can borrow up to 100% of your school-certified cost of attendance. There are no application or origination fees, but there is a 5% penalty on late payments. EDventinU offers loan payments of up to 15 years.

Co-signer release is available after 36 months of consecutive, on-time payments.

As a subsidiary of Cognition Financial Corporation in Boston, Custom Choice is a trusted lender that offers private student loans to graduate and undergraduate students. They have unique repayment options along with additional protections that make them an attractive option for students looking to fund their trade school or career training.

Custom Choice offers fixed loan rates starting at 3.65% and a reduction of 2% on your principal loan amount with proof of graduation. They offer a range of repayment options, including $25 while in school, and up to 12 months forbearance. They cover up to 100% of your school-certified cost of attendance, including trade schools and colleges.

Repayment periods are available for up to 15 years and the maximum loan amount is $100,000. Cosigner releases are available after 36 on-time payments.