Carnegie Mellon University

Federal Loans

For many students and families, educational loans are a necessary part of the process of paying for college. Student Financial Aid certifies loans for students, as well as Federal Direct Parent PLUS Loans for parents of undergraduates and Federal Direct Grad PLUS Loans for graduate students. Read on to learn more about the different types of loan programs at Carnegie Mellon.

Types of Federal Loans

Federal Perkins Loan

Perkins loans are low-interest (5%) loans funded by the federal government and administered by Carnegie Mellon. Eligibility is determined by completing the Free Application for Federal Student Aid (FAFSA). Learn more

Federal Direct Student Loan

The Federal Direct Student Loan is the most widely-used loan for college students and is available to both undergraduate and graduate students. There are two types of Federal Direct Student Loans, subsidized and unsubsidized, and eligibility for both is determined by completing the FAFSA. Learn more

Parent PLUS Loan

The Federal Direct PLUS Loan is a financing option for parents of undergraduate students. It is a non-need-based loan by the Department of Education and is credit-based. Parents may apply for any amount up to the annual cost of attendance minus any aid. LEARN MORE

Grad PLUS Loan

Eligible graduate students may borrow a Federal Direct Grad PLUS Loan to assist with educational expenses. Students may borrow any amount up to their calculated cost of attendance minus any other aid received. Learn more