Parent Loans

Parents have two options for financing college costs.

2019–20 Academic Year

Loan Type

Description

Interest Rate

Fees

Borrowing Limit

Repayment Period

Princeton Parent Loan*

University parent loan
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4.99% fixed or 3.9% variable

None

Cost of education minus student aid

Begins during enrollment – maximum 14-year repayment term

Direct PLUS Loan

Federal parent loan
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7.08% fixed 4.248% origination fee Cost of education minus student aid

Begins during enrollment – maximum 10-year 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.

*The 2019-20 Princeton Parent Loan interest rates will be set after July 15, 2019.

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.