Loans are a resource that can help fund your education. Typically, you do not have to begin repaying loans until after you have left school. Below is a list of the various loan options available, as well as details and requirements for each.
Undergraduate Student Loans
Federal Direct Subsidized Loans are available to eligible undergraduate students who are U.S. citizens or permanent residents with demonstrated financial need. Payments are deferred and the U.S. Department of Education pays the interest while you are in-school (at least half time) and for the first six months after you leave school (your grace period). Eligibility is determined annually by Cornell based on your FAFSA Form.
Interest Rate & Terms
6.52% fixed interest rate for loans first disbursed on or after July 1, 2026, and before July 1, 2027. Additional information about federal student loan interest rates and fees is available at studentaid.gov.
Loan Fees
1.057% origination fee for loans disbursed on or after October 1, 2020, and before October 1, 2026.
Repayment Terms
10 to 30 years, beginning 6 months after leaving school. Additional information about federal student loan repayment plans is available at studentaid.gov.
Maximum Loan Limits
Loan limits are set by the federal government and vary based on the student’s need and year in school. For additional details, please refer to the U.S. Department of Education’s page on Direct Loans.
| Loan Limits | Dependent Undergraduate Student | Dependent Undergraduate Student with a Parent Plus Loan Denial* | Independent Undergraduate Student |
|---|---|---|---|
| First-Year (0 – 29 credits) | $5,500 A maximum of $3,500 may be subsidized | $9,500 A maximum of $3,500 may be subsidized | $9,500 A maximum of $3,500 may be subsidized |
| Second-Year (29.1 – 59 credits) | $6,500 A maximum of $4,500 may be subsidized | $10,500 A maximum of $4,500 may be subsidized | $10,500 A maximum of $4,500 may be subsidized |
| Third-, Fourth-, and Fifth-Years (59.1+ credits) | $7,500 A maximum of $5,500 may be subsidized | $12,500 A maximum of $5,500 may be subsidized | $12,500 A maximum of $5,500 may be subsidized |
| Career Maximum Loan Amounts | $31,000 A maximum of $23,000 may be subsidized | $57,500 A maximum of $23,000 may be subsidized | $57,500 A maximum of $23,000 may be subsidized |
Federal Direct Unsubsidized Loans are available to eligible undergraduate students who are U.S. citizens or permanent residents. Interest begins accruing upon disbursement, but principal payments are deferred while you are in-school (at least half time) and for the first six months after you leave school (your grace period). Eligibility is determined annually by Cornell based on your FAFSA Form.
Interest Rate & Terms
6.52% fixed interest rate for loans first disbursed on or after July 1, 2026, and before July 1, 2027. Additional information about federal student loan interest rates and fees is available at studentaid.gov.
Loan Fees
1.057% origination fee for loans disbursed on or after October 1, 2020, and before October 1, 2026.
Repayment Terms
10 to 30 years, beginning 6 months after leaving school. Additional information about federal student loan repayment plans is available at studentaid.gov.
Maximum Loan Limits
Loan limits are set by the federal government and vary based on the student’s need and year in school. For additional details, please refer to the U.S. Department of Education’s page on Direct Loans.
| Loan Limits | Dependent Undergraduate Student | Dependent Undergraduate Student with a Parent PLUS Loan denial* | Independent Undergraduate Student |
|---|---|---|---|
| First-Year (0 – 29 credits) | $5,500 A maximum of $3,500 may be subsidized | $9,500 A maximum of $3,500 may be subsidized | $9,500 A maximum of $3,500 may be subsidized |
| Second-Year (29.1 – 59 credits) | $6,500 A maximum of $4,500 may be subsidized | $10,500 A maximum of $4,500 may be subsidized | $10,500 A maximum of $4,500 may be subsidized |
| Third-, Fourth-, and Fifth-Years (59.1+ credits) | $7,500 A maximum of $5,500 may be subsidized | $12,500 A maximum of $5,500 may be subsidized | $12,500 A maximum of $5,500 may be subsidized |
| Career Maximum Loan Amounts | $31,000 A maximum of $23,000 may be subsidized | $57,500 A maximum of $23,000 may be subsidized | $57,500 A maximum of $23,000 may be subsidized |
Graduate Student Loans
Federal Direct Unsubsidized Loans are available to eligible graduate and professional students who are U.S. citizens or permanent residents. Interest begins accruing upon disbursement, but principal payments are deferred while you are in-school (at least half time) and for the first six months after you leave school (your grace period). Eligibility is determined annually by Cornell based on your FAFSA Form.
Due to recent changes to federal loan programs, Cornell expects to begin processing 2026-27 Graduate PLUS applications after July 1, 2026.
Interest Rate & Terms
8.07% fixed interest rate for loans first disbursed on or after July 1, 2026, and before July 1, 2027. Additional information about federal student loan interest rates and fees is available at studentaid.gov.
Loan Fees
1.057% origination fee for loans disbursed on or after October 1, 2020, and before October 1, 2026.
Repayment Terms
10 to 30 years, beginning 6 months after leaving school. Additional information about federal student loan repayment plans is available at studentaid.gov.
Maximum Loan Limits
$20,500 per academic year for students who began their Cornell degree program prior to July 1, 2026.
$20,500 per academic year for students beginning graduate programs after July 1, 2026.
$50,000 per academic year for students beginning professional programs (J.D. and M.D. only) after July 1, 2026.
More information about legacy vs. new federal loan limits is available on the Federal Financial Aid Changes page.
Loan limits are set by the federal government and vary based on the student’s need and year in school. For additional details, please refer to the U.S. Department of Education’s page on Direct Loans.
Federal Graduate PLUS Loans are available to eligible graduate and professional students who are U.S. citizens or permanent residents and who began their Cornell degree program prior to July 1, 2026 and qualify for a legacy exception. More information about legacy exceptions is available on the Federal Financial Aid Changes page. Interest begins accruing upon disbursement, but principal payments can be deferred while you are in-school (at least half time) and for the first six months after you leave school (your grace period). To apply, complete a Federal Graduate PLUS Loan Application.
Interest Rate & Terms
9.07% fixed interest rate for loans first disbursed on or after July 1, 2026, and before July 1, 2027. Additional information about federal student loan interest rates and fees is available at studentaid.gov.
Loan Fees
4.228% origination fee for loans disbursed on or after October 1, 2020, and before October 1, 2026.
Repayment Terms
10 to 30 years, beginning 60 days after disbursement, OR deferred for 6 months after leaving school. Additional information about federal student loan repayment plans is available at studentaid.gov.
Maximum Loan Limits
Up to the total cost of attendance, less other financial aid.
Parent Loans
Federal Parent PLUS Loans are available to parents of eligible undergraduate dependent students. Parent PLUS borrowers must be U.S. citizens or permanent residents. Interest begins accruing upon disbursement, but principal payments can be deferred while the student is in-school (at least half time). To apply, complete a Federal Parent PLUS Loan Application.
Due to recent changes to federal loan programs, Cornell expects to begin processing 2026-27 Parent PLUS applications after July 1, 2026.
Interest Rate & Terms
9.07% fixed interest rate for loans first disbursed on or after July 1, 2026, and before July 1, 2027. Additional information about federal student loan interest rates and fees is available at studentaid.gov.
Loan Fees
4.228% origination fee for loans disbursed on or after October 1, 2020, and before October 1, 2026.
Repayment Terms
10 to 30 years, beginning 60 days after disbursement, OR deferred for 6 months after leaving school. Additional information about federal student loan repayment plans is available at studentaid.gov.
Maximum Loan Limits
Up to the total cost of attendance, less other financial aid.
- Have questions about repayment schedules? Visit Federal Student Aid's Repayment Estimator.
- In addition to federal and university loans, there are also private education loans to consider.