7.7 million students were expected to attend a college or university part-time in fall 2020.
Attending college part-time just makes sense for a lot of students, especially if you’re hoping to avoid student loans. Part-time students take fewer courses each semester, so their bill isn’t as high.
Fortunately, as a part-time student, you might still qualify for federal financial aid. What does it look like? How do you get it? We’ll break it all down below.
What is Considered a Part-time Student?
Let’s first look at part-time vs. full-time students.
Most colleges and universities define full-time students as those taking at least 12 credits per semester. That’s about four classes. A part-time student is anyone taking two to eleven credits, or one to three classes.
When reading about financial aid, you might see the term “half-time” used. That’s because for some types of financial aid—like federal student loans—you need to be taking at least six credits per semester. In other words, half as many credits as a full-time student.
Federal Financial Aid for Part-Time Students
Assuming you’re eligible for federal financial aid, let’s see what federal financial aid you could qualify for.
Grants
Federal grants are a form of financial aid that you don’t usually need to repay. At least not under normal circumstances. In some cases, though, you might need to repay all or part of your federal grant.
The best grant for part-time undergraduate students is the Pell Grant. A Pell Grant is awarded based on a student’s financial need, and it can cover as little as one credit hour. For the 2020-2021 school year, the maximum Pell Grant value is $6,345.
If you’re financially needy and are attending community college, the Pell Grant may cover all of your college costs. For the 2020-2021 year, the average published tuition and fees for community colleges was just $3,770. The low cost is just one of the many benefits of community college.
Federal Work-Study Jobs
As a part-time student, you might also qualify for a federal work-study job. This financial aid program gives part-time jobs to undergraduate and graduate students expressing a financial need. You’d work part-time either on-campus or off-campus.
Off-campus jobs are usually with a private nonprofit or a public agency. On-campus jobs are for your school. If you qualify for federal work-study, your college or university will let you know what opportunities are available.
Just know that not all schools participate in the program, so check with your school’s financial office to see if your school participates.
Federal Student Loans
Your final federal financial aid option is federal student loans. There are a few different loan types you can borrow, but only if you’re enrolled at least half-time. Again, that means at least six credits a semester.
Direct Subsidized Student Loans
Direct subsidized student loans are awarded to students expressing financial need on the FAFSA. Your school determines how much you can borrow, but the federal government has limits in place too. If you must borrow for college, this is the loan you want. The government covers interest charges while you’re enrolled and during your grace period. That makes this loan more affordable than other types.
Direct Unsubsidized Student Loans
You can also borrow direct unsubsidized student loans to cover your educational costs. These are awarded regardless of financial need. Again, your school determines how much you can borrow, but there are federal limits in place too.
With unsubsidized student loans, you’re responsible for all interest payments. The government doesn’t help you out like they do with subsidized student loans.
Direct PLUS Loans
Do your parents want to help pay for your college? Parents whose students are enrolled at least part-time can borrow Direct PLUS Loans. They’re commonly called Parent PLUS Loans when borrowed by parents.
Parents can borrow up to the cost of attendance minus any other financial aid. You shouldn’t need the maximum amount, though. The cost of attendance includes fixed costs like room, board, and tuition, but it also includes estimated costs like books, transportation, and supplies. Consider that and a few other factors before borrowing Parent PLUS Loans.
Other Financial Aid for Part-Time Students
Part-time students might also qualify for financial aid from their state or their college or university.
School-Based Financial Aid
Most colleges and universities offer scholarships and grants to full-time and part-time students who express financial need.
Grants: You’ll automatically be considered for school grants when you file your FAFSA and/or CSS Profile, and the school puts together your financial aid award. A quick search on your school’s website should give you an idea of what sort of grants are available. You can also email the financial aid office to ask.
Need-Based Scholarships: A need-based scholarship—as opposed to a merit-based one—is awarded to students who express financial need. Depending on the school, you might need to fill out a separate scholarship application. Scholarships usually require something from you while you’re in school. For example, many schools require scholarship recipients to maintain a certain GPA to keep their scholarship from one semester or one year to the next.
State-Based Financial Aid
Some states award scholarships or educational grants to qualifying students. After completing your FAFSA, you should be prompted to apply for any available state financial aid programs. If you aren’t, just do a quick search for “your state + state grant program.”
For example, in Pennsylvania, half-time students who express financial need on their FAFSA could receive a PHEAA grant from the Pennsylvania Higher Education Assistance Agency.
How Can Part-Time Students Apply for Financial Aid?
All part-time students should file the Free Application for Student Aid (FAFSA). Even if you don’t think you’ll qualify for aid, do it anyway. Some schools only award merit-based or extracurriculars scholarships to students who’ve filed the FAFSA.
Depending on where you’re attending, you might need to fill out a CSS profile too. It’s an in-depth application that some colleges and universities use to evaluate whether you’re eligible to receive institutional need-based aid or scholarships.
Filing the FAFSA
You might have heard complaints about the FAFSA in the past, but don’t worry. In recent years, the FAFSA has gotten a lot easier to fill out. Most people finish in under 30 minutes.
Here’s a brief overview of how to file your FAFSA for the first time:
- Create an FSA ID
- Gather up financial documents and federal tax information. Pull up your bank accounts or investment accounts on your computer too.
- Login to fafsa.gov to apply online, file using the myStudentAid mobile app, or call 1-800-4-FED-AID to request a printed application
- List which schools you want to send the FAFSA to
- Go through each question, answering as accurately as you can
- Wait for schools to send you financial aid award letters
Visit studentaid.gov for a more thorough explanation of how to fill out the FAFSA.
Completing the CSS Profile
About 200 undergraduate colleges and universities require full- and part-time students to complete the CSS Profile. It stands for the College Scholarship Service Profile. Compared to the FAFSA, it’s a lot more detailed and takes longer to fill out. But it might be your ticket to scholarships and institutional aid like grants.
Here’s a brief overview of how to complete the CSS Profile:
- Make a College Board account (or use your College Board login from the SATs)
- Gather together your tax documents, W-2s, records of assets, bank statements, etc.
- Choose which college(s) to send your CSS Profile to
- Answer all of the questions, answering as accurately as possible
- Pay a fee (or receive a waiver) and then submit the application
- Wait to hear back from your school(s)
Getting Financial Aid as a Part-Time Student
Part-time students, whether you’re taking one class or three, can rely on financial aid to help cover educational costs just like full-time students do. Just be smart with what financial aid awards you accept.
Only take out federal student loans if you’ve exhausted your grant and scholarship options. And, if you’re working while you’re in school, talk to your college’s financial aid office to see if you can pay for your classes in installments. It would spread payments out over the semester, making it easier to pay as you go.
Learn more about financial aid and paying for college with these articles:
- Everything You Need to Know About Need-Based Financial Aid
- Does The Military Pay For College
- 529 College Savings Plans: Everything You Need to Know
- How to Pay for College
- Financial Aid Disbursement – How It Works
- Do You Have to Pay Back Financial Aid?
- Types of Financial Aid: What Needs to Be Paid Back
- Can I Get Student Loans for Trade School?
