Paying for college often feels overwhelming, especially if you come from a low-income background.
“The good news is there are a number of loan options to pay for college, regardless of your income level,” explains Jason Slone, a Certified College Financial Consultant (CCFC) with College Aid Pro.
These options include federal programs, grants, scholarships and private student loans that can help bridge the gap between the cost of college and what you pay out of pocket. The bottom line is your income doesn’t have to be a barrier to education, as these different sources can help you fund your way through school.
Here’s what you should know about applying for student loans with a low income.
What is considered low income?
Low-income ranges vary, but based on 2026 federal poverty guidelines, a low-income individual has an annual income of $15,960 or less. If you’re applying as part of a family, whether you’re a dependent or married, low income is anything less than $27,320 for a family of three or $33,000 annually for a family of four.
However, federal aid doesn’t have an income limit, and multiple factors, such as household size, financial need and your overall financial situation, determine eligibility. As a result, you should submit the Free Application for Federal Student Aid (FAFSA) to apply for federal student aid, even if you or your family earn more than the federal poverty guidelines.
You’ll also want to apply for aid adjustment if your financial situation changes. Examples of financial situation changes include job loss, significant pay cuts, high out-of-pocket medical or dental costs, divorce or a family member becoming unemployed. If you submit an aid adjustment form, you may qualify for additional funding.
Student loan options vary by program
The financial aid available to you depends partly on the type of education you’re pursuing. Undergraduate, graduate and trade school students may qualify for different federal aid programs and borrowing limits.
Undergraduate students: Submit the FAFSA to determine your eligibility for federal grants, work-study and student loans. Low-income undergraduates may qualify for need-based aid such as Pell Grants and Direct Subsidized Loans, which can reduce how much you need to borrow.
Graduate and professional students: Graduate students generally aren’t eligible for Pell Grants or Direct Subsidized Loans, but may qualify for Direct Unsubsidized Loans. Federal borrowing rules changed beginning July 1, 2026, including new loan limits and the phaseout of Grad PLUS loans for new borrowers. Scholarships, fellowships, assistantships and employer tuition assistance can help reduce your funding gap. Private graduate student loans may be an option if you still need additional financing.
Trade and career school students: Students attending eligible vocational, certificate and career-training programs may qualify for federal grants and student loans. You may also find funding through state workforce programs, scholarships, apprenticeships and employer assistance. If you still have a funding gap, some private lenders offer loans specifically for career training or trade school programs.
Whatever program you’re pursuing, find out which types of aid you qualify for and use grants, scholarships and other funding you don’t have to repay before deciding how much to borrow.
How to apply for student loans with a low income
Start with federal and state student aid
Federal student loans are widely considered the best borrowing option, particularly if you’re a low-income student, because they have more borrower protections and income-related benefits.
Slone shares, “To begin, take full advantage of the Federal Direct Student Loan program. As long as you file the FAFSA each year and attend an accredited college, you qualify. Next, check the state you live in and/or the state where you’re attending school. Many states have low-cost loan programs.”
For state financial aid, look into the National Association of Student Financial Aid Administrators (NASFAA). Most states offer at least one scholarship or grant, along with financial aid programs.
For federal aid, use the free Federal Student Aid Estimator tool to determine how much federal student aid you may be eligible for. This estimator considers financial need based on your parents if you’re a dependent. If you’re not a dependent, the tool considers you or your spouse’s total financial resources minus the minimum amount estimated for your family’s annual living expenses.
Pro tip: You may qualify for subsidized loans if you’re a low-income undergraduate student. The U.S. Department of Education pays the interest on direct subsidized loans while you’re in school (at least half the time) and for the first six months after you finish school, giving you a leg up when it comes to repayment.
Apply for Pell Grants
Undergraduate students with exceptional financial need who don’t have a bachelor’s degree or other professional degree yet may qualify for a Pell Grant. Federal Pell Grants aren’t loans and rarely need to be repaid.
To apply, submit the FAFSA. Your eligibility and award amount depend on factors including your Student Aid Index (SAI), income, family size, enrollment and your school’s cost of attendance. Beginning with the 2026–27 award year, students with an SAI of $14,790 or higher generally aren’t eligible for a Pell Grant under new federal rules.
For the 2026–27 school year, the maximum Pell Grant award is $7,395, although the amount you receive depends on your individual circumstances. Unlike other federal or private student loans, this doesn’t need to be paid back, making it an exceptional option for students with low income.
Explore scholarships and other student aid
Look for scholarships and other financial aid that you won’t have to repay before turning to additional student loans.
Scholarships come in all shapes and sizes. They may be based on financial need, academic achievement, athletics, talents, interests or your field of study. You’ll even find organizations, nonprofits and religious groups that offer scholarships for specific groups, such as students from military families.
Start with your school’s financial aid office and search for opportunities through local foundations, nonprofits, businesses, civic and religious organizations and professional associations.
Apply for multiple scholarships when possible. Even smaller awards can add up and reduce the amount you need to borrow for college.
Pro tip: Look into federal work-study jobs to earn money to pay your way through college. Federal work-study jobs are part-time jobs for undergraduate and graduate students with financial need. The program focuses on employment in work related to your field of study and civic education.
Look into private student loans
If federal loans, grants, scholarships and other aid aren’t enough to cover your college costs, private student loans can help fill the remaining funding gap. Private loans are offered by banks, credit unions and online lenders rather than the federal government.
Most private lenders consider your credit history and income when deciding whether you qualify and what interest rate to offer. If you have a low income or limited credit history, applying with a creditworthy cosigner may improve your chances of approval and help you qualify for a lower rate.
“If you know an adult who is creditworthy, ask them to co-sign a loan from a private lender. It doesn’t have to be a parent!” shares Slone.
Before applying, estimate how much you actually need to borrow after accounting for grants, scholarships, federal student loans and other financial aid. Then prequalify with multiple lenders, when available, to compare potential rates and terms without a hard credit inquiry.
Student loan application checklist
Be prepared to provide:
- Personal and contact information
- Social Security number
- School and enrollment information
- Cost of attendance and requested loan amount
- Income and employment information
- Financial information and supporting documents requested by the lender
- Cosigner information, if you’re applying with one
Once you receive final loan offers, compare the APR, interest-rate type, monthly payment, repayment term, fees and total repayment cost. Also consider borrower protections, in-school payment requirements and whether the lender offers cosigner release. A longer repayment term may result in a lower monthly payment but more interest paid overall.
Private student loans generally don’t offer the same protections as federal loans, such as federal income-driven repayment and forgiveness programs. Make sure you understand the loan terms and repayment requirements before accepting an offer.
Bottom line
Having a low income doesn’t necessarily prevent you from paying for college or qualifying for student loans. Start by submitting the FAFSA and maximizing aid you don’t have to repay, including Pell Grants and scholarships. Then consider federal student loans, which generally offer stronger borrower protections than private loans.
If you still have a funding gap, private student loans can help cover remaining eligible education costs. Compare offers from several lenders before borrowing, paying attention to APRs, repayment terms, monthly payments, fees and borrower protections. If you have limited income or credit history, adding a creditworthy cosigner may also help you qualify or receive better terms.
Most importantly, borrow only what you need. Comparing your actual loan offers — rather than choosing based on an advertised rate alone — can help you find the most affordable option for your situation.
FAQs about how to get a student loan on a low income
Can I get student loans with no income?
Yes, you can get student loans with no income, especially federal student loans, which don’t require a job, income or credit score to qualify. Eligibility requirements are based on financial need, citizenship status and other factors, such as the size of your family. Private lenders have different requirements, and having an income or a cosigner with one may help you qualify.
What disqualifies you from getting a student loan?
You may be disqualified from student loans if you don’t submit the FAFSA on time, if you’re not maintaining certain academic progress while in college or if you’re incarcerated. U.S. citizenship and being unqualified for higher education, such as not completing a high school diploma or a state-recognized equivalent, can also disqualify you from federal aid.
What credit score is needed for Sallie Mae?
Sallie Mae doesn’t have a formal credit score requirement, but a good credit score will help with applications, as Sallie Mae checks your borrowing history, credit history and payment habits. If you have a poor credit score below 640, you’ll likely face more rejections. Ideally, work with a cosigner with a score of 680 or higher to improve your chances of getting approved for a student loan.
Does working part-time help improve my student loan eligibility?
Working part-time may improve your eligibility for private student loans, especially if you’re applying without a cosigner. However, working part-time is unlikely to improve your eligibility for federal student loans.
Is Trump forgiving student loans?
No, the Trump administration is not offering broad student loan forgiveness. However, eligible borrowers may still qualify for existing federal programs, such as Public Service Loan Forgiveness (PSLF) and certain loan discharge programs. Low income alone does not qualify you for student loan forgiveness.