Student and Parent Loans

Loan options are available to all students, regardless of whether they receive a Yale Scholarship. For those who do, Yale’s financial aid policy guarantees that 100% of demonstrated need is met without requiring loans. However, some students may choose to use loans to cover their student share in place of a term-time or summer job. Additionally, some families may prefer the flexibility of deferring certain costs until after graduation.

Loan options for:

• Students 
• Parents
• Private Loans

Loan Options for Undergraduate Students

Federal Direct Student Loans

For U.S. citizens or permanent resident students who have a valid FAFSA on file, are enrolled at least half-time, matriculate into a Yale undergraduate degree program, maintain satisfactory academic progress, and are not in default on any federal loans. 

• Subsidized: Need-based, interest does not accrue while enrolled at least half-time in degree program. Eligibility is determined by Undergraduate Financial Aid. 
• Unsubsidized: Not need-based, interest accrues from the time of disbursement regardless of enrollment status.

Rate & Fee: 6.52% fixed interest, 1.057% origination fee for loans disbursed on or after July 1, 2026 and before July 1, 2027.

Summer Rate & Fee: 6.39% fixed interest, 1.057% origination fee for loans disbursed on or after July 1, 2025 and before July 1, 2026.

Loan limits & more details: Visit Federal Student Aid.

Repayment: Begins six months after dropping below half-time enrollment or degree completion. More information at Federal Student Aid.

How to apply: To request a Federal Direct Student Loan, the Yale student must log in to the form (found below) with their Yale log-in.

• Students must apply for loans at least one week before the end of the term for which they are intended to allow for processing. For example, students must request loans for Spring 2027 by May 5,2027. 
• Loan Repayment Calculator | Federal Student Aid

Yale Student Loan

For students with financial need who do not qualify for U.S. federal or Canadian student loans. 

Interest Rate & Fees: 9.19% fixed interest, 5% origination fee. 

Loan Limits: Up to $2,100 or student share minus outside scholarships.

Interest: Accrues while in school; can be paid monthly or capitalized.

Repayment: Six-month grace period, up to 10 years, $50 minimum monthly payment. 

How to apply: Contact Undergraduate Financial Aid using the link below to apply. 

Loan Options for Parents

Federal Direct Parent PLUS Loan

For parents of federally dependent undergraduate students who have a valid FAFSA on file, are enrolled at least half-time, matriculate into Yale undergraduate degree program and maintain satisfactory academic progress.  

Parent Eligibility: Must be a U.S. citizen or eligible noncitizen, the student’s biological/adoptive parent (or in some cases, the legal stepparent), and pass a credit check. Parent borrower and student cannot be in default on federal loans or owe an overpayment on a federal education grant.  

Rate & Fee: 9.07% fixed interest, 4.228% origination fee for loans first disbursed on or after July 1, 2026 and before July 1, 2027. 

Summer Rate & Fee: 8.94% fixed interest, 4.228% origination fee for loans first disbursed on or after July 1, 2025 and before July 1, 2026. 

Loan Limits & more details : Visit Federal Student Aid.  

Repayment: Begins after full disbursement; deferment available.

How to apply: To apply for a Parent PLUS Loan, the Yale student must initiate the request by logging into our Federal Parent PLUS Loan Request form (found below) with their Yale log-in, enter the parent borrower’s name and email, then an email will be sent to the parent borrower to complete the Parent PLUS Loan application.

• Parents must apply for loans at least one week before the end of the term for which they are intended to allow for processing. For example, parents must request loans for Spring 2027 by May 5, 2027. 

Private Loan Options