Loans

The Federal Direct Parent PLUS Loan is a U.S. Department of Education educational loan program for creditworthy biological or adoptive parents or stepparents of undergraduate students enrolled at least half-time.

Although the FAFSA is required to apply for a Parent PLUS loan, awards are not based on need. Borrowers typically begin repaying the principal and interest within 60 days of the final disbursement.

Beginning with the 2026-2027 aid year, undergraduate students may be eligible for up to $20,000 per year in Federal Direct Parent PLUS Loans, with a lifetime limit of $65,000. Existing Emory borrowers may be able to continue borrowing under current limits for up to three academic years or the remainder of their program, whichever is less. Students changing degree types (e.g., Associate’s to Bachelor’s) may lose eligibility for the legacy borrowing provisions.

Download our "Applying for a Direct Parent Loan for Undergraduate Students (PLUS)" guide to learn more about the application process.

The U.S. Department of Education oversees several low-interest options available to degree seeking students enrolled at least half time, including:

• Direct Subsidized Loans – A need-based loan option to cover the costs of undergraduate education. The FAFSA is required to apply for a subsidized loan. Interest will not accrue on a subsidized loan as long as the borrower is enrolled at least half-time. Payments and interest begin accruing six months after the borrower graduates or withdraws.
• Direct Unsubsidized Loans – A non-need-based option for undergraduate, graduate, and professional students. Interest will be charged on an unsubsidized loan from the time of disbursement until it is paid in full. Borrowers can choose to pay the interest while in school or allow it to accumulate, although allowing interest to accumulate will increase the total amount that needs to be repaid. Interest on unsubsidized loans is capitalized once at repayment.

All Federal Direct Loans are subject to an origination fee, which will be deducted from each disbursement by the Department of Education.

Download our "Applying for a Federal Direct Loan" guide [PDF] to learn more about the application process.

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, requires annual loan amounts for federal loans to be prorated for students enrolled in a less-than-full-time status. An effective date for this provision has not yet been determined.

Private educational loans can be an important funding source for students who need more loan funds than the federal programs provide. However, maximum federal loan eligibility should be used before a private loan is considered. Students must be enrolled in a degree-seeking program to apply for a private educational loan. The terms of private loans vary significantly and require a credit check and/or debt-to-income ratio check on the borrower and/or co-borrower. A co-borrower may be required, and lower interest rates may be available to students who choose to have a co-borrower.

For the 2026-2027 aid year, the Office of Financial Aid has chosen to implement a preferred lender list. More information on this decision, and the selection criteria used, is available here.

Please note that you are not required to use any of the lenders on this list—the choice of lender is yours. The Office of Financial Aid will process your loan with any lender you choose. Further, the list of lenders is not in any order of preference. Choose your lender carefully, with the intent that you will remain with that lender throughout your studies at Emory.

Before selecting a private educational loan, the Office of Financial Aid recommends comparing offerings from several lenders to find the best option for your needs. When comparing offerings, attention should be given to interest rates, fees, repayment and grace period options, as well as estimated monthly payments and the total cost of borrowing.

For the 2026-2027 aid year, the Office of Financial Aid recommends you not apply for a private educational loan until May 20, 2026, but that you do so as soon as possible after that date.

The US Congress mandated that private loan lenders collect a self-certification form before disbursing a private educational loan. The Applicant Self-Certification Form contains both the form and the instructions on where to locate the required financial aid information for section 2. The form must be returned to the lender and should not be submitted to the Office of Financial Aid.

Instructions for Applying for a Private Educational Loan (PDF)