Parent Loans

Parents have several options for financing college costs.

2018–19 Academic Year

Loan Type	Description	Interest Rate	Fees	Borrowing Limit	Repayment Period
Princeton Parent Loan	University parent loan Apply Online	4.99% fixed or 2.8% variable*	None	Cost of education minus student aid	Begins during enrollment – maximum 14-year repayment term
Direct PLUS Loan	Federal parent loan Apply Online	7.6% fixed	4.264% origination fee	Cost of education minus student aid	Begins during enrollment – maximum 10-year repayment term
Princeton Monthly Payment Plan	University installment payment plan Apply Online	3.5% fixed	None	Princeton University bill minus student aid	Begins during enrollment – maximum 12-month repayment term

Princeton Parent Loan Program (PPL)

This University program offers parents who qualify the opportunity to borrow their share of Princeton's costs. A review of creditworthiness is required, and both aid and non-aid families may apply. Parent applicants may choose between a fixed or variable rate on the Princeton Parent Loan. Additional details may be found online here.

Direct PLUS Loan for Parents

The Direct PLUS program is another option for both aid and non-aid families to finance the parental share of Princeton's costs. The PLUS loan is credit-based. Additional details may be found online at www.studentloans.gov.

Princeton Monthly Payment Plan (MPP)

The Monthly Payment Plan installment loan is a short-term installment plan that allows parents to make twelve monthly payments with interest, rather than two semester payments. Additional details may be found online here.

*The 2018-19 Princeton Parent Loan interest rates will be set in mid-July.