BEST OF
9 Best Student Loans for Community College of February 2021
Apply for free financial aid first, then use federal student loans before turning to private lenders if you need help paying for community college.
While community college is less expensive than four-year college, you may still need help covering costs. Not all private student loans are available for community college, but you still have a lot of options.
If you need student loans for community college, max out federal loans first. Private loans should be your last resort, after using grants, work-study, savings, employer assistance and federal student loans. Here are lenders that can help you fill any gaps, as well as tips for affording community college and shopping for loans.
While community college is less expensive than four-year college, you may still need help covering costs. Not all private student loans are available for community college, but you still have a lot of options.
If you need student loans for community college, max out federal loans first. Private loans should be your last resort, after using grants, work-study, savings, employer assistance and federal student loans. Here are lenders that can help you fill any gaps, as well as tips for affording community college and shopping for loans.
Summary of Best Student Loans for Community College of February 2021
Lender | NerdWallet Rating | Fixed APR | Variable APR | Min. Credit Score | Learn More |
---|---|---|---|---|---|
2.75 - 4.30% | N/A | None | Read review | ||
4.13 - 11.52% | 1.78 - 11.89% | Does not disclose | Check Rate on SoFi's website | ||
3.38 - 13.72% | 2.44 - 12.39% | 540 | Check Rate on Ascent's website | ||
3.64 - 5.46% | N/A | 680 | Read review | ||
3.75 - 6.99% | N/A | Does not disclose | Read review | ||
3.34 - 12.99% | 1.04 - 11.98% | Mid-600s | Check Rate on College Ave's website | ||
3.99 - 8.49% | 1.49 - 7.68% | 660 | Check Rate on LendKey's website | ||
3.99 - 10.99% | 4.13 - 9.64% | 660 | Check Rate on CommonBond's website | ||
4.59 - 12.99% | 1.59 - 11.99% | Does not disclose | Check Rate on Discover's website |
Federal Subsidized/Unsubsidized Loan

Fixed APR
Variable APR
Min. Credit Score

on SoFi's website
SoFi Private Student Loan

Fixed APR
Variable APR
Min. Credit Score
on SoFi's website
on Ascent's website
Co-signed Student Loan
Fixed APR
Variable APR
Min. Credit Score
on Ascent's website
RISLA Private Student Loan

Fixed APR
Variable APR
Min. Credit Score
Advantage Education Private Student Loan

Fixed APR
Variable APR
Min. Credit Score
Want to compare more options? Here are our other top picks:
Can you go to community college for free?
More and more states have passed laws making community college tuition-free for residents. Several schools and cities also offer programs that make public college more affordable.
Be aware, though, that some programs require you to exhaust federal and state grants first, so you should still fill out the Free Application for Federal Student Aid, or the FAFSA. You may also have to pay for living expenses like rent, food and transportation and school expenses like a computer, books and fees.
How to shop for a community college student loan
Use grants first. Fill out the FAFSA as soon as possible after Oct. 1, when it opens, to get access to 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.
If you need loans, choose federal loans first. These offer lower interest rates than private loans and come with the option to tie the payments to your income after you leave school. That can help you avoid falling behind on payments. The FAFSA will qualify you for federal loans. Some community colleges do not participate in the federal loan program.
Build good credit, or add a co-signer, when applying for private loans. If you need to make up for a gap in financial aid, private loans are your last stop. Students with good credit, generally a score of 690 or higher, will get the lowest interest rates. Students under age 21 often don’t have the credit history required to get a private loan in their own names. Use a co-signer to qualify or to get a better rate; alternatively, search for private loans you can get without a co-signer.
Make sure your school is eligible. Some lenders will make loans to students pursuing associate degrees at four-year schools only. When exploring your options, make sure your community college is on the private lender’s list of eligible schools.
Compare loan features. When shopping for a private loan, compare offers to get the lowest student loan interest rate you qualify for. Note whether the lender will postpone payments in case you have difficulty affording them — known as forbearance — and for how long. Prioritize lenders that will let you release the co-signer after a period of time so they are not responsible for the debt.
Opt for a fixed interest rate. Fixed interest rates are a safer bet than variable interest rates because they won’t increase over time.
Watch the bottom line. Use a student loan calculator to see how much you’ll owe per month after borrowing for multiple years.
Last updated on February 5, 2021
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