William D. Ford Federal Direct Unsubsidized Loan

• Must be a US citizen or permanent resident
• Complete the FAFSA online at www.fafsa.ed.gov
• Complete the Direct Loan Request form
• First time borrowers must sign a Master Promissory Note and complete the Entrance Counseling session

• 6.8% fixed interest rate
• Interest will accrue while in school
• Maximum amount awarded
• • Freshmen - $5,500
  • Sophomores - $6,500
  • Juniors/Seniors - $7,500

• Begins 6 months after student leaves school
• For additional questions, please contact Direct Lending at 1-800-848-0979
• Direct Loan Repayment Calculator
  

Federal Direct Parent Loan for Undergraduate Students (PLUS)

• The borrower must be a parent of a dependent student
• Must be a US citizen or permanent resident
• Complete the FAFSA online at www.fafsa.ed.gov
  
• Complete the PLUS application
• First time borrowers must sign a Master Promissory Note

• 7.9% fixed interest rate
• May borrow up to the total cost of attendance less any financial aid

• Begins 60 days after second disbursement OR may be deferred until 6 months after student leaves school
  
• For additional questions, please contact Direct Lending at 1-800-848-0979

Alternative Loans

• You are responsible for researching and applying for your alternative loan
• You and your family may choose any lender you feel comfortable with for your alternative educational loans; Cornell cannot recommend any particular lender
• Interest rates and repayment terms will vary between lenders
• May borrow up to the total cost of attendance less any financial aid
• Academic year loans will be divided into 2 equal disbursements (fall and spring)

Cornell encourages you to compare lenders. To help get you started, review our list of important questions to ask lenders when applying for an alternative loan.

Cornell Installment Plan (CIP)

• Choose between 5, 10 or 12 month installments
• No interest or finance charges
• Small enrollment fee
• Continuing students should use last year’s family contribution to plan your CIP
• Changes can be made to your payments at any time by contacting Sallie Mae 1-800-635-0120
• For more information, please call Sallie Mae or visit the Cornell page at http://tuitionpay.com