Parent Loans

If federal aid, along with scholarships, state grants, tuition waivers and personal savings is not enough to cover your student's educational expenses, parents may wish to consider borrowing a parent loan. Below you will find information which should help guide you as you decide whether a parent loan is right for you.

While there is no specific deadline to apply for a parent loan during the semester, parents should apply as soon as possible (it is suggested to do this before or at the beginning of the semester the loan will be intended for). Applications must be submitted at least a week before a semester ends. Be aware processing of parent loans may be delayed due to increases in loan volume at peak times of the year (generally August, September, January, and February). It is recommended that you apply as soon as possible once you know what additional funding will be needed. Allow up to three weeks once NDSU receives the request from the lender for the student to see the update to their Financial Aid Summary in their Campus Connection portal. If it has been longer than three weeks, please complete the inquiry form below. Your patience is greatly appreciated.

Parent loans are non-federal, interest-bearing loans through private lenders where the parent or other creditworthy individual is the borrower. Approval is not guaranteed, and the borrower may be required to be creditworthy. There are a variety of parent loans available and it’s up to the borrower to choose the one that is best for them.

Parent loans are available to parents and other creditworthy individuals who wish to borrow to help the student finance their education. Lender requirements may vary; contact the lender directly for all eligibility requirements.

The Federal Direct PLUS Loan is a long term, fixed rate loan that parents can use to help pay educational expenses for their dependent undergraduate student. Parents may borrow up to the cost of the student's attendance minus other financial aid. Students must be enrolled at least half-time. The Department of Education is the lender. This loan does accrue interest beginning on the date of the first disbursement. There is an origination fee. To apply the Federal Direct PLUS Loan visit https://studentaid.gov/understand-aid/types/loans/plus.

NOTE: If a parent borrower is unable to obtain a PLUS loan, the undergraduate dependent student may be eligible for additional unsubsidized loans. The student should contact NDSU One Stop at ndsu.onestop@ndsu.edu or call toll free at 1-866-924-8969 or locally at 701- 231-6200 for additional information.

NDSU offers an online loan comparison tool for you to use called FASTChoice. FASTChoice is designed to assist you in making the education loan choice that is best for you. FASTChoice is not a lender. Select the link for Parent - Private Loan Options to view only parent loans. Please keep in mind that you may select any lender of your choice, even if they do not appear on FASTChoice.

Enter Fast Choice

NOTE: NDSU Financial Aid and Scholarships and its staff do not endorse or accept any incentives, financial or otherwise, from the lenders listed on FASTChoice. Lender information is provided as a courtesy and in no way should it be interpreted as a requirement to use one of the listed lenders. NDSU will process loans from any lender that participates in any educational loan programs.

One Stop

Contact One Stop (701) 231-6200 Ask a Question Report a Problem