Parent Loans

Parents have several options for financing college costs.

Loan Type

Description

Interest Rate

Fees

Borrowing Limit

Repayment Period

Princeton Parent Loan (PPL)

University parent loan
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In 2016-17 – 4.99% fixed or 2.80% 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% fixed 4.276% origination fee Cost of education minus student aid

Begins during enrollment – maximum 10-year repayment term

Princeton Monthly Payment Plan 

University installment payment plan
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2.75% 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.