Other Loan Options for Families

There are a variety of educational loans available to students and families to help fund educational costs at Kenyon.

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• The Federal Direct Parent Loan for Undergraduate Students (PLUS Loan)
• Alternative Student Loan Options

Federal Direct Parent Loan for Undergraduate Students (PLUS Loan)

Through the Federal Direct PLUS Loan program, parents may borrow an annual amount up to the cost of attendance minus financial aid.

• Parents must be creditworthy, but there are no income requirements placed on eligibility.
• Completion of the Free Application for Federal Student Aid (FAFSA) is required in order to apply for the PLUS Loan.
• Loans are payable 30 days after the final disbursement of the loan and payable over 10 years.
• Deferment of repayment is available upon request as long as the student is enrolled at least half-time.
• The 2020-2021 Direct PLUS loan interest rate is fixed at 5.30% and carries a 4.236% origination fee that is deducted from the loan amount prior to disbursement. studentaid.gov/understand-aid/types/loans/interest-rates

• To Apply: Complete the Federal Direct PLUS Loan Application available at studentaid.gov.

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Alternative Loan Options: Students and Parents

Alternative Loans are private loans offered through a number of banks and lending agencies. Students and parents may be eligible to borrow an alternative loan to assist with educational costs.

For details on alternative loan products for students, refer to Kenyon's Electronic Alternative Student Loan Lender List. You are not limited to the lenders listed.  

For details on alternative loan products for parents, refer to Kenyon's Electronic Alternative Parent Loan Lender List. You are not limited to the lenders listed. 

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