Community College Student Loans

While there may be a number of grants, scholarships, and loans available for students aspiring to earn a four-year baccalaureate degree or attend a traditional college, it may feel like there aren't any options for anyone wishing to attend a community college or study part-time while they work.

The reason it may seem difficult to obtain community college student loans is that the actual cost of attendance is so much less than what you'll pay to attend a traditional private four-year college or university. In fact, the average two-year stint at a community college will most likely run about $5,000, while a single annual bill for a university can be greater than $20,000. However, this shouldn't deter you from finding loans for community college.

Some private lenders offer credit-based loans geared specifically toward students entering a two-year degree program. Approval of some of these loans can lead to complete coverage of tuition fees and repayment periods up to 15 years. If all else fails, you should also look for alternative student loans through private lending sources. These won't have the same low interest rates and long-term, flexible repayment options of some student loans, but they can still solve the problem of funding your community college education when you can't afford to pay the price out of pocket.

Paying for school is not easy, but we are here to help. OEDb's student finance section will help you find the money you need to pay your tuition and other college expenses. We cover scholarships, college grants, and student loans. Scholarships and grants are both forms of "free money", meaning they don't need to be paid back. Scholarships are typically awarded by businesses or individuals, with the money being earmarked specifically for tuition. They can be awarded based on a student's location or by religious affiliation, such as Catholicism or Islam. Grants are typically awarded by governments or non-profit organizations and the money often can be applied to several different expenses a student may incur, not solely tuition. They can be awarded based on location or ethnicity, for instance African American or Hispanic. Loans are not considered "free money", because unlike scholarships and grants, they do need to be paid back after graduation. Common federal loans include Perkins and Stafford. Loans are also available by location.