Parent Loans (Top)
Federal Direct Parent PLUS (Parent Loan for Undergraduate Students). Federal Direct Parent PLUS loans are federally guaranteed loans available to parents of undergraduates. There is no financial need requirement to receive these loans. You do not need to contact a lender; these loans are made directly with the U.S. Department of Education.
Loan Terms and Disbursement:
NOTE: The origination fee for the Federal Direct PLUS Loan increased for loans disbursed on or after March 1, 2013. The origination fee may change depending on Congressional legislation.
To apply for a Federal Direct Parent PLUS Loan:
Supplemental Student Loans (Top)
Some states offer educational loan programs to residents of that state with interest rates and repayment terms that are equal to or better than the federal student and parent loans. We recommend that students and parents check with their state higher education agencies about the availability of these loans.
Private banks also offer loan programs for educational costs. For most of these loans, the student is the borrower with the parent as a cosigner. Interest rates generally are variable. Johns Hopkins University recommends that students exhaust their eligibility for federal loans before considering private loan programs. If you are uncertain about your eligibility for federal loans, please contact the financial aid office prior to initiating a private loan application.
For state or private loans, the borrowing limit is the total cost of education for the academic year (as defined by Johns Hopkins University) less any financial aid.
As a service to students and their families, Johns Hopkins University makes available this link to the Maryland Student Loan Marketplace which assists in comparing private loans and in identifying potential lenders. The Maryland Student Loan Marketplace was designed by the Maryland Independent College and University Association (MICUA) to help students and their families navigate the world of private student loans. The Marketplace is an online, education financing resource that provides students with a transparent process to evaluate private loans. In addition, it provides access to a Learning Center which supplies critical information needed to engage in smart borrowing practices. It is one of many tools that may be helpful when selecting a private loan lender. The University does not endorse or recommend any lender, nor does the University have any financial interest in any lending institution. Students and their families have the right to select the educational loan provider of their choice.
Before considering a private student loan, students are encouraged to complete the process for determining eligibility for federal student loans which are normally less costly and offer better repayment terms.
Questions to ask a Private Lender (Top)
-- From the Project on Student Debt (see website below)
Consumer Information on Student Loans (Top)
For more information on comparing lender benefits, see the following website:
For questions to ask when considering a private loan, see the following website: