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There are two types of loans available to students and families - Federal Direct Parent Loans (PLUS) and Alternative Loans.
Federal Direct Parent PLUS Loans
Federal Direct Parent PLUS loans are available to parents of dependent, undergraduate students. Eligibility is not based on financial need but an additional application and credit check is required. Borrowers with adverse credit history may still be eligible by meeting additional requirements.
Parents may borrow up to the cost of attendance minus financial aid received. We encourage you to borrow only what you need for the academic year.
The current interest rate is fixed at 5.30% with a 4.236% origination fee.
To apply, the parent must go online to the Direct PLUS loan application for parents and log in with the parent FSA ID. For more information about Federal Direct PLUS loans, visit the Federal Student Aid website.
Alternate/Private Student Loans
Private and alternative loans are privately-funded loans available to students and parents. We strongly recommend that students utilize federal loan eligibility before applying for private loans.
For a list of lenders based on historical lending with our students, ELM Select offers a helpful comparison tool. SUNY Cortland does not endorse or recommend any particular lender or loan product. Students and parents have the ability to select the loan lender of their choice - if you wish to use a lender not provided on this list, it is your right to do so.
Students and parents may borrow up to the yearly cost of attendance minus other financial aid received. We encourage you to only borrow what you need for the academic year.
Apply directly with the lender of your choice.