15 Best Student Loans For Community College In USA

Loans generally play a vital role in people’s financial plans. Many community college students often rely on education loans to fill the gaps in their college fund.

However, when considering college loans to help pay for school, it is important you look out for opportunities that may be available at the state level.

Few state governments fund loan programs directly, while others work with private lenders to provide student loan programs for their residents.

Student loans for community colleges are offered by a variety of lending institutions including banks and many other online loans. We will connect you with 15 prominent lenders who offer friendly loans to college students.

Carefully follow the contents outlined below and select the option that best suits your demand.

Why Student Loan For Community College In the USA?

Community colleges offering two-year programs can be an excellent option if you seek an opportunity to learn and save simultaneously.

It’s also a great option if you want to save money while improving your skills, preparing for a four-year university, or going for an associate’s degree.

Even if you are attending a community college instead of a four-year college to save costs, you will still require some financial aid to help pay for tuition. In that case, you may have to resort to a student loan.

The most important thing you should know about student loans for community college is that they can help you meet your financial and educational needs. Other reasons you should subscribe to community college students loan are;

  • Applying only once to get the money needed for the entire school year
  • Community college student loans feature 100% coverage for all school-certified expenses like tuition, fees, books, housing, meals, travel, and even a laptop.
  • No origination fee
  • Competitive interest rates
  • Multiple repayment options on loans for students

How Can I Get Student Loans For Community College?

Loans for community colleges are made available by lenders to students who need additional funding to help with their educational costs.

However, choosing a student loan is a decision that will impact your life after graduation. The following process will help you to get started.

Use grants first

Fill out the FAFSA as soon as possible after Oct. 1, when it opens, to access financial aid like the Pell Grant. These grants cover much of the cost of community college for students with low incomes and don’t need to be repaid. The FAFSA will also give you access to state and school grants.

The following steps will guide you on how to get started.

  • First, select a lender and your program. After that, you contact a lender and complete an application. 
  • The lender will complete a credit check and make an approval or denial. The lender will contact you if any additional information or if a co-signer is needed.
  • You will receive various disclosure statements from your lender explaining interest rates, terms, fees, and the total cost of the loans. The lender may ask for a self-certification form.
  • Funds are received and posted by the designated office.

Eligibility Requirements

Whether you are applying for a student grant or scholarship, you will be required to submit some documents, including your certification.

Once the lender has provisionally approved your application, the private loan will need to be certified. Most community college loan certifications are typically done electronically.

They will certify your eligibility for student loans based on individual lender guidelines. 

The designated body will verify your cost of attendance and that your loan dollar amount requested is acceptable within the cost of attendance, loan period, grade level, product eligibility, and other criteria.

Additionally, private lenders will check your credit score. Limited, poor, or no credit history could pose a problem.

Your loan may be reduced or cancelled to comply with lender guidelines if there are eligibility issues.

Loan Disbursement

Most student loan disbursements are done approximately ten (10) business days after the loan is certified.

Once the designated body receives the funds from your lender, your student account will be credited with the loan disbursement based on the loan period certified.

Unless authorization is on file, once the tuition, fees, and room and board posted on your student account are paid, any credit balance for that term will be issued as a paper check or direct deposit if elected through the Cashiering/Student Accounts Office.

Essential Tips for Student Loans For Community College

When you are considering taking out a student loan for school, don’t overlook the following rules:

  • Never borrow more money than you absolutely need to cover your college costs. 
  •  Be selective in the lender you choose and don’t just rush into any loan agreement. 
  • Thoroughly review and decide how important the various features of student loans for community college. You should borrow from the same loan program each year during your college career. 
  • Choose a loan that has a competitive margin above the index; This margin will determine your future interest rates.
  •  Look for good deals: Borrow from a lender that will provide discounts on your interest rate after so many years of consistent payments. Also, look for discounts if you opt to have your payments directly deducted from your checking account.
  • Think about the length of your repayment period and how your monthly payments will be affected.
  •  Do not sign until you are comfortable with the terms and conditions your lender has offered.

How Much Student Loans Can I Borrow For Community College?

There is usually a limit to the amount you can borrow with private loans, which can vary by lender. It might be the cost of tuition, less the amount of aid you are already receiving.

However, to be safe, borrow up to $15,000 per year for a community school.

The lifetime limit for this loan, combined with all other education-related debt, including federal loans, is $40,000 for a community college.

What Are The Best Student Loans For Community College?

There are several channels through which you can pursue community college funding options. After you have exhausted all scholarships, grants, and other financial aid opportunities, the student loan is the next option.

Check below for the various community loans that will benefit you.

  • Federal Subsidized/Unsubsidized Loan
  • Wells Fargo
  • Sallie Mae
  • Laurel Road
  • SoFi Student Loan
  • Private Student Loan
  • CommonBond
  • Prodigy
  • Citizens Bank
  • LendKey
  • Splash Financial
  • Earnest
  • MEFA
  • MPOWER Private Student Loan
  • RISLA Student Loan

Learn: How To Get Rid of Student Loans During The COVID Period

Federal Subsidized/Unsubsidized Loan

Federal loans are the most widely used college lending option for students. They don’t require credit or income to apply.

The federal government offers these student loans. They are the best first option for borrowing money for college.

Federal direct student loans for community colleges don’t require a credit history or a co-signer. They also offer borrowers more repayment options and protections to prevent default.

Additionally, federal loans are the only way to get Public Service Loan Forgiveness.

If you’re ready to borrow a federal student loan, you can apply by submitting a FAFSA. The form is available online with your Federal Student Aid ID. You can also submit a paper FAFSA by mail.

While federal loans could be right for some students, not all community colleges participate in the federal student loan program, so there is a private student loan option.

Private student loans for community college

If you do not receive enough grants through federal student loans for community colleges or are unable to meet the eligibility requirements for federal student loans, you can seek additional funding through private lenders.

These lenders include traditional banks, credit unions, or other online lenders.

Basically, each community college has its eligibility requirements, so you will have to check with individual lenders to see about qualifications. 

However, some private student loans have higher eligibility requirements, like a specific credit score, to even be considered. Check below for the available loans for community colleges.

Wells Fargo

Fixed APR Variable APR Min. Credit Score
3.74 – 9.74%3.00 – 8.74%

Wells Fargo loans for community colleges are designed for only students attending a two-year school, career-training program, or non-traditional school.

This lender requires no payments until six months after you leave school. You can also choose to make early payments at any time during school, which can help reduce the interest you pay over the life of your loan.

In addition, Wells Fargo’s private loan offers a variety of repayment options for both its refinancing, private student loans, and struggling borrowers. There is no penalty for early repayment.


  • You are assigned a dedicated student loan advisor.
  • More flexible repayment options for struggling borrowers than other lenders.


A shorter length of hardship forbearance compared with other lenders.


Sallie Mae

Fixed APR Variable APR Min. Credit Score
4.74 – 11.85%
1.50– 9.66% N/A

Sallie Mae community college student loans in almost all categories, including full-time, part-time, studying abroad, winter or summer classes, and students taking continuing education or professional certification courses.

In fact, you can borrow to pay for all your school-certified expenses at a degree-granting institution.

Additionally, Sallie Mae lender offers the following benefits;


Laurel Road

Fixed APR Variable APR Min. Credit Score
3.50-7.02% 2.43-6.65% 660

A division of KeyBank, online lender Laurel Road has offered student loans and refinancing since 2013. Borrowers with a minimum credit score of 660 can apply.


SoFi Student Loan

Fixed APR Variable APR Min. Credit Score
3.46-7.94% 2.14-7.94%650

SoFi is an online lender that offers student loans for community college and mortgages, personal loans, insurance, and investment accounts.

The Lender has offered student loans since 2011 and has served more than 250,000 borrowers with more than $18 billion in student loan refinancing.

Furthermore, you can apply for student loan refinancing online with SoFi and get an instant decision.

Additionally, you can personalise rate estimates without affecting credit. Also, you can see if you’ll qualify and what rate you’ll get without a hard credit check.


Check out! 13 Best Student Loan Refinance Companies

Private Student Loan

Fixed APR Variable APR Min. Credit Score
3.14-6.69% 2.39-6.01% 680

 PNC is a traditional bank that offers student loans to undergraduates and graduate students nationwide.

Its private student loan is best for students who plan to start repayment immediately, while its refinancing loan is best for students without a degree. They offer a half-point interest rate discount for making automatic payments.

Additionally, PNC allows Borrowers without a degree to refinance.



Fixed APR Variable APR Min. Credit Score
3.21-7.24% 2.14-7.21% 660

CommonBond is one of the first student loans for community college companies. The lender offers a unique unemployment protection program where loan payments are paused.

Also, the lender helps eligible graduates find new jobs and even hires them for short-term consulting projects.

The unique thing about CommomBond is that every time they fund a loan, they cover the cost of a child’s education through their Social Promise. 



Fixed APR Variable APR Min. Credit Score
N/A 6.56-8.65% N/A

 If you desire to travel across the world to get a degree without worrying about collateral or a co-signer, Prodigy will make your dream come true.

This lender offers a one-month grace period between graduation and your first payment to ease the pressure of transitioning to work.

Additionally, they offer variable interest rates, which start at 4% and 7 to 20 years to pay off your loan, depending on your terms.  


Citizens Bank

Fixed APR Variable APR Min. Credit Score
3.45%+ 2.15%+ 680

Citizens Bank Payments offers the best student loans for community college. They have a very flexible payment on your terms.

With a minimum credit score of 680, this lender offers borrowers many great loan options backed by the stability of a bank. 

This lender allows you to choose from competitive fixed and variable rates and repayment options that allow you to pay back your loan on your schedule.

One of the many reasons you should choose Citizens Bank is that they provide Multi-Year Approval. Additionally, they offer affordable low rates to save you more.



Fixed APR Variable APR Min. Credit Score
5.36% 4.05% 680

LendKey is a student loan refinancing lender that pools money from community banks and credit unions to offer well-priced student loans to borrowers.

The lender offers loans between $5,000 and $300,000, depending on the degree earned by the loan holder.

LendKey bases its rates upon your credit, and discounts are given for auto-pay. They also have no origination or prepayment fees. 

Note that the lender does not allow refinancing for borrowers who didn’t graduate. However, LendKey offers a $300 bonus for refinancing loans under $150,000 and a $750 bonus if you refinance loans over $150,000!


Splash Financial

Fixed APR Variable APR Min. Credit Score
3.48% – 7.02% 2.25% – 7.41%

Splash Financial offers loans for community colleges with no original fees and unique repayment plans. For example, they are one of the few lenders that allow spouses to refinance together.

They offer loans between $5,000 and no maximum. They also have some of the lowest rates for qualified borrowers. 

The great thing about Splash Financial is that they offer one of the best bonuses currently available and is currently offering College Investor readers a $500 bonus if you refinance at least $50,000



Fixed APR Variable APR Min. Credit Score
3.45% to 6.99% 5.99% to 17.88 650

Earnest is an online lender that offers one of the best student loans for community college and personal loans.

It is one of the most flexible student loan refinancing companies. Basically, they offer the ability to pick any monthly payment and term between 5 to 20 years, saving you more than standard rates and terms.

The lender also allows you to change your loan, and you can refinance your loan for free, change payment dates, and even skip a payment once a year and make it up later.

Earnest has no set income requirements for borrowers. They also offer unemployment protection to pause your monthly payments if you lose your job.



Fixed APR Variable APR Min. Credit Score
3.45% – 6.99% 3.33% – 5.38% 670

The Massachusetts Educational Financing Authority, or MEFA, offers student loan refinancing and private student loans for undergrad and graduate students across all 50 U.S. states.

The lender offers loans to borrowers without a co-signer and also offers a minimum of 670 credit scores.


MPOWER Private Student Loan

Fixed APR Variable APR Min. Credit Score
7.52 – 13.63%N/A 670

If you are searching for the best private loan for international students, contact MPOWER. This lender offers non-co-signed student loans for international and DACA students.

MPOWER features Forbearance of 24 months, which is longer than many lenders offer. It also allows borrowers to access national disaster forbearance as well.

The major drawback is that; this lender offers only one repayment term, which is 10 years.


RISLA Student Loan

Fixed APR Variable APR Min. Credit Score
3.49 – 8.14% N/A 680

The generous repayment flexibility for struggling borrowers makes the Rhode Island Student Loan Authority(RISLA) considered one of the best student loan options for community college.

RISLA is a nonprofit state-based agency that refinances student loans and makes loans to students and parents.

This lender offers an Income-based repayment plan with forgiveness after 25 years. Also, you can refinance without a degree.

A few people may not choose this lender because they can’t see if they will qualify and what rate they will get without a hard credit check.


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Before applying for any loan, you need to know how its benefits and disadvantages will affect you as a student. Therefore it is advisable to always weigh the advantages and risks before applying.

What Are The Pros And Cons Associated With Community College Students Loan?

When accepting student loans, you need to understand the responsibility you are undertaking. If you fail to pay off your loan, you create a path for increased financial difficulties.

The penalties for defaulting on loan payments include added fees, added interest, and wage garnishment. This section will highlight the pros and cons of obtaining student loans for community college.


  • Make higher education more attainable, especially if you don’t have other funding options.
  • It helps build good credit by paying back on schedule.


  • Late payment attracts an increase in the interest rate
  • Loan debt can get in the way of other financial goals


Student loans are a blessing for many people, as not everyone can afford college. It also is a chance for students to start laying the foundation of their credit history by staying on top of their payments.

If you are considering taking out a loan to fund your college tuition, carefully select from our list of community college student loans. Ensure you review the rates before you apply.


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