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Parent Loans (Top)

Parent Loans Supplemental Loans

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.

Student Eligibility:

  • Must be enrolled at least half-time
  • Must be a U.S. citizen or permanent resident
  • Must be registered for Selective Service (males only)
  • Must not be in default on a student loan

Borrower Eligibility:

  • Must  be the parent or legal guardian of an undergraduate for Parent PLUS
  • Must be a U.S. citizen or permanent resident
  • Must not be in default on a student loan

Credit Review:

  • A credit review is required; however, there is no “debt to income” review.
  • A co-borrower/endorser option is offered if the borrower’s credit is denied.
  • Credit checks are valid for 90 days. For this reason, we advise that borrowers wait until summer before applying for loans for the upcoming year. Our loan processing begins in June.

Borrowing Eligibility:

  • Borrowers apply for the Parent PLUS for each academic year that they wish to borrow. Multi-year loans may be consolidated. 
  • The loan amount may not exceed the cost of attendance for the academic year less any financial aid the student is eligible to receive.  
  • Borrowers are encouraged to apply for the amount needed for the academic year (not semester by semester).

Loan Terms and Disbursement:

  • The interest rate for Federal Direct Parent PLUS loans is fixed at 7.21% for the 2014-2015 year.
  • The origination/default fee for the Federal Direct Parent PLUS loan is 4.288%. This fee is deducted from each disbursement of the loan.
  • Disbursements are scheduled at the beginning of each semester and are deposited directly in the student’s account.

NOTE: The origination fee for the Federal Direct PLUS Loan increased for loans disbursed on or after October 1, 2014. The origination fee may change depending on Congressional legislation.


  • Repayment begins 60 days after the loan is fully disbursed. Fully disbursed means that all installments (fall and spring) have been paid. Interest begins accruing after the first disbursement.
  • There is no pre-payment penalty.
  • Consolidation options and extended or graduated repayment plans are available.

To apply for a Federal Direct Parent PLUS Loan:

To complete the Parent PLUS promissory note:

Your FASFA PIN is required to complete this process. If you do not have a valid PIN, you must go to the Department of Education’s PIN site at: A PIN is assigned to an individual and may not be used by another individual. When completing the FAFSA, the student signs with his or her PIN and one parent signs with the PIN assigned to that parent. If a different parent borrowes a Federal Direct Parent PLUS Loan, that parent may not use the PIN assigned to the other parent but must obtain his or her own PIN.

Go to

  • Sign in with your ( the parent borrower) PIN and other identifying information.
  • Select the "Complete Master Promissory Note" option.
  • Select Loan Type Parent PLUS.
  • Be sure to select JOHNS HOPKINS UNIV - ASEN when asked to provide the name of your school.

Follow the instructions, and remember to print a copy of the promissory note for your records.

The borrower will be contacted by JHU and the Direct Loan Servicing Center once the loan has been processed.

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.

Johns Hopkins University Financial Aid Code of Conduct and Policy on Education Loans

Questions to ask a Private Lender (Top)

  • What is your lowest interest rate and fee combination and how can I get it? Is the rate only for a limited period or is it for the life of the loan?
  • For variable rate loans, is there a limit on how high the variable rate can go? How often is the interest rate adjusted, and how is it determined?
  • What interest rate can I get on a fixed-rate loan?
  • How long will I be repaying the loan? Is there any penalty for paying it off early?
  • When do I have to start making payments? How long can I defer payments while I'm in school? If I go to graduate school and defer payments, how much will I owe when I do start making them?
  • Will I lose my discount for paying on time if I have only one late payment or if I ask for a change in the payment schedule?
  • What proportion of your borrowers get the discounts you offer? Are your discounts guaranteed or are they subject to change later?
  • Would you allow me to defer or reduce my payments temporarily because of economic hardship? Under what circumstances and for how long?

-- 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:



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