Following the University's announcement of its plan for fall 2020, the Financial Aid Office has prepared a resource that answers common questions about the financial aid, billing, and student employment implications of the plan. Please view this resource to learn more.
The Office of Undergraduate Financial Aid and Student Employment (UFA) is currently unable to send or receive U.S. mail. To update your financial aid application, please upload materials to your secure financial aid portal; secure fax to our office at 609-258-0336; or email to pfaa@princeton.edu (if you are a member of the class of 2024) or faoffice@princeton.edu (if you are a currently enrolled student).
Parents have two options for financing college costs.
|
Loan Type |
Description |
Interest Rate |
Fees |
Borrowing Limit |
Repayment Period |
|---|---|---|---|---|---|
|
Princeton Parent Loan |
University parent loan Apply Online |
4.99% fixed or 3.6% variable |
None |
Cost of education minus student aid |
Begins during enrollment – maximum 14-year repayment term |
|
Direct PLUS Loan |
Federal parent loan Apply Online |
7.08% fixed | 4.236% origination fee | Cost of education minus student aid |
Begins during enrollment – maximum 10-year repayment term |
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.
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.