Student and Parent Loans

Loan options are available regardless of whether a student receives Yale scholarship. For student’s receiving Yale scholarship, Yale’s financial aid policies ensure that 100% of every undergraduate’s demonstrated need is met with a package that does not include loans. Though this is the case, some students may prefer to cover some or all of their student share with loans instead of taking a term-time or summer job, and families may find it more convenient to defer some 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 submit a FAFSA, are enrolled at least half-time in a degree program, maintaining satisfactory academic progress, and not in default on 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 regardless of enrollment.

Rate & Fee: 6.533% fixed interest, 1.057% origination fee.

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.

Yale Student Loan

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

Eligibility: International students or those ineligible for Federal Direct Loans or Canada Student Loan.

Interest Rate: 7.5% (no fees).

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 submit a FAFSA, are enrolled at least half-time in a degree program and maintain satisfactory academic progress.  

Parent Eligibility: Must be a U.S. citizen or eligible noncitizen, the student’s biological/adoptive parent, 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: 9.083% fixed interest, 4.228% origination fee. 

Loan Limit: Up to the cost of attendance minus other aid. 

Repayment: Begins after full disbursement; deferment available. 

More details: Visit Federal Student Aid. 

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.

Private Loan Options

Additional Loan Information 

Connecticut’s Student Lending Code of Conduct 

The State of Connecticut’s code of conduct for student loans, from Connecticut’s Office of the Attorney General. Read carefully prior to taking out a student loan. 

Yale’s Student Lending Code of Conduct

Yale’s institutional statement on its student lending code of conduct. Read carefully prior to taking out a student loan.