Parent Loans

Parents have two options for financing college costs.

2023–24 Academic Year

Loan Type	Description	Interest Rate	Fees	Borrowing Limit	Repayment Period
Princeton Parent Loan	University parent loan Apply Online	4.99%** fixed 4.40%** variable	None	Parent Contribution	Begins during enrollment – maximum 14-year repayment term
Direct PLUS Loan	Federal parent loan Apply Online	8.05% fixed	4.228%** origination fee	Cost of education minus student aid	Begins during enrollment – maximum 10-year repayment term

**Rate not yet announce for 2023–24.

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 on the Princeton Parent Loan website.

Direct PLUS Loan for Parents

The Direct Parent Loan for Undergraduate Students (PLUS) 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.