Loans

Loans can offer you and your family a way to meet college costs while spreading these costs over an extended repayment period. Borrowing, though, should be used with care and with an eye on total debt and repayment. We recommend that you only borrow what you need and not necessarily with total amount offered.

There are a variety of both federal and private student and parent loan programs available. You will be automatically considered for federal and Purdue loans when you complete your FAFSA by our March 1 priority date. To apply for private loans, you will need to contact banks or loan companies.

Get an estimate on how much aid you could receive with our Financial Aid Estimator and Net Price Calculator.

Federal Loans

  • Subsidized/Unsubsidized Stafford Loans

Low-interest federal loans available to all degree-seeking students who complete the FAFSA and enroll at least half time. Learn more.

  • Perkins Loans

A low-interest federal loan available to undergraduate and graduate students who complete the FAFSA by March 1, demonstrate financial need and enroll at least half  time in a degree-seeking program. Learn more.

  • Graduate PLUS Loans

Graduate and professional students with good credit (or a co-signer with good credit) are eligible to borrow under the Federal Direct PLUS Loan Program. The Graduate PLUS Loan amount is limited to the cost of attendance minus other estimated financial assistance. Learn more.

  • Parent PLUS Loans

A Federal Parent PLUS Loan is a credit-based Federal Direct Loan for biological parents that can be used to help pay for the college education of a dependent undergraduate child. The loan amount is limited to the cost of attendance minus other estimated financial assistance. Learn more.

  • Health Professionsals Student Loans

A low-interest federal loan available to professional students in Doctor of Pharmacy or Veterinary Medicine who complete the FAFSA by March 1 including parent income information, demonstrate financial need and enroll full time in one of the eligible degree objectives. Funding is limited and not guaranteed to all who are eligible. Learn more.

2014-15 Federal Loan Interest Maximums

Purdue Loans

A low-interest federal loan available primarily to undergraduate students who complete the FAFSA by March 1, demonstrate financial need and enroll at least half time in a degree-seeking program. Learn more.

Private Loans

Private educational loans are an additional funding option to consider for students and families paying for college. Before considering a private loan — which may have higher interest rates than a federal loan — we recommend that students review their eligibility for federal student loans. Learn more about private lenders.

Student Loan Repayment

Right to Cancel Loans

Purdue University Division of Financial Aid, Schleman Hall, Room 305, 475 Stadium Mall Drive, West Lafayette, IN 47907-2050, (765) 494-5050

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