Loan Options

First-Year: $3,500 subsidized, $2,000 unsubsidized

Sophomore: $4,500 subsidized, $2,000 unsubsidized

Junior-Year & Beyond: $5,500 subsidized, $2,000 unsubsidized

First-Year: $3,500 subsidized, $6,000 unsubsidized

Sophomore: $4,500 subsidized, $6,000 unsubsidized

Junior-Year & Beyond: $5,500 subsidized, $7,000 unsubsidized

Borrowers apply for the Parent PLUS loan for each academic year individually. Multi-year loans may be consolidated at a later date. Parents will be capped at $20,000 per year and $65,000 lifetime in PLUS borrowing per student. Borrowers are encouraged to apply for the amount needed for the entire year, not semester by semester.

• You (the student) must be enrolled at least half-time, be a U.S. citizen or permanent resident, and you can not be in default on a student loan. Males must be registered for Selective Service.
• The parent borrower must be the parent of an undergraduate student, be a U.S. citizen or permanent resident, and can not be in default on a student loan.
• A credit review is required, but no “debt-to-income” review exists. A co-borrower/endorser option is offered if the borrower’s credit is denied. Credit checks are valid for 180 days. Borrowers may complete a credit check at https://studentaid.gov/ beginning in April for the next academic year.

• The interest rate for Parent PLUS loans for 2025-2026 is 8.94%. The interest rate for each year is announced in June.
• The origination/default fee for the Parent PLUS loan program is 4.228% for loans first disbursed on or after October 1, 2020, and before October 1, 2025.
• Disbursements are scheduled at the beginning of each semester and are deposited directly into your Hopkins billing account.
• Repayment begins sixty days after the loan is fully disbursed. If parents are approved for deferment, repayment may not begin until 6 months after the student’s graduation.
• Fully disbursed means that all installments (fall and spring) have been paid.
• Interest begins accruing after the first disbursement. There is no prepayment penalty. Consolidation options and extended or graduated repayment plans are available.

• Complete the FAFSA before submitting a Parent PLUS loan request at https://studentaid.gov/.
• Your FSA ID is required to complete this process. If you need to set up an FSA ID or retrieve your username or password, go to https://studentaid.gov/fsa-id/create-account/launch.
  • A FSA ID is assigned to an individual and may not be used by another individual. If a different parent borrows a Federal Direct Parent PLUS Loan, that parent may not use the FSA ID assigned to the other parent but is required to obtain their own FSA ID.
• To submit a PLUS loan request, log into https://studentaid.gov/ with your FSA ID and other identifying information.
  • Select the “Request a Direct PLUS Loan” option.
  • Select “Loan Type Parent PLUS.”
  • Be sure to select JOHNS HOPKINS UNIV – ASEN when asked to provide the name of your school. Hopkins has multiple campuses, and it is essential that you select ASEN (Arts & Sciences and Engineering) as the school to receive your information.
• New PLUS borrowers will also use https://studentaid.gov/ to sign a promissory note online. Hopkins will contact the borrower once the loan has been processed or with any questions we have regarding the request.

Find out more by watching this educational video about Parent PLUS loans.

Some states offer educational loan programs to residents of that state with interest rates and repayment terms equal to or better than the federal student and parent loans. We recommend that you and your family check with your state higher education agencies about the availability of these loans.

Private banks also offer loan programs for educational costs. For most of these loans, you (the student) are the borrower with your parents as a co-signer. Interest rates generally are variable.

For state or private loans, the borrowing limit is the total cost of education for the academic year (as defined by Hopkins) minus any financial aid. The University does not endorse or recommend any lender, nor does the University have any financial interest in any lending institution.

You and your family have the right to select the educational loan provider of your choice. If you want to learn more about supplemental loan funding, please review ELM Select. Johns Hopkins provides access to this interactive tool to help you and your family better understand your private loan options.

Find out more by watching this educational video about private loans.

• What are your lowest interest rate and fee combination, and how can I get it? Is the rate only for a limited period, or is it for the life of the loan?
• For variable rate loans, is there a limit on how high the variable rate can go? How often is the interest rate adjusted, and how is it determined?
• What interest rate can I get on a fixed-rate loan?
• How long will I be repaying the loan? Is there any penalty for paying it off early?
• When do I have to start making payments? How long can I defer payments while I’m in school? If I go to graduate school and defer payments, how much will I owe when I start making them?
• Will I lose my discount for paying on time if I have only one late payment or if I ask for a change in the payment schedule?
• What proportion of your borrowers get the discounts you offer? Are your discounts guaranteed, or are they subject to change later?
• Would you allow me to defer or reduce my payments temporarily because of economic hardship? Under what circumstances and for how long?

From the Project on Student Debt

If you are a new Direct Student Loan borrower, you must sign a master promissory note (MPN) and complete online Entrance Counseling. Make sure to have your FSA ID available to complete these steps.

1. You will receive an email notification informing you when to sign your MPN and complete your Entrance Counseling.
2. Sign in to the Federal Student Loans website with your FSA ID and other identifying information.
3. You will see options to “Complete Master Promissory Note” and “Complete Entrance Counseling.” Remember to complete both.
4. Select Subsidized/Unsubsidized for the loan type.
5. Select “JOHNS HOPKINS UNIV – ASEN” when asked to provide the name of your school. Johns Hopkins has multiple campuses, and it is essential that you select Johns Hopkins – ASEN as the school to receive your information.
6. Follow the instructions and remember to save a copy of the MPN for your records.

The MPN is valid for ten years of consecutive borrowing at Hopkins. The loan proceeds will be credited to your student account ten days before the semester starts.

Watch Loan Entrance & Master Promissory Note (MPN) Tutorials

The Direct Student Loan Program simplifies the application process for students and provides quicker access to loan funds. Loan repayment allows more options for repaying the loan through extended, graduated, and income-based plans. Loan repayment information will be sent with the promissory note at the time of repayment. Loan repayment information, as well as interactive calculators, are available to help you plan for repayment.

In August of 2022, President Biden announced a student loan relief plan that would cancel up to $20,000 of federal student loan debt for eligible borrowers.
However, in June of 2023, the Supreme Court struck down the plan. So, your student debt has NOT been canceled (even if you got an approval when you applied). Payments resume in October 2023.

If your loan payments were paused, you will need to begin making payments again on October 1, 2023. If you just graduated in May, your repayment begins after your 6-month grace period is over (if you didn’t use it before graduation) around mid-November.

Even though you technically borrowed from the federal government, they are not the ones managing your loans—they outsource the responsibility to individual servicers: companies that handle the payments, communication, and record-keeping.

You should have received an email from your servicer if you’re heading into repayment. The message should have included details on how to set up an account. If you didn’t get an email? Log into https://studentaid.gov . Your dashboard will list your servicer and include a link to their website. Or you can call the Federal Student Aid Information Center at 1-800-433-3243 to find out who your servicer is
and how to get in touch with them.

If you have multiple loans, it’s possible that you have more than one servicer. If this is the case, you should have been contacted by each servicer, and you will need to make payments to each of your servicers every month.

Public Service Loan Forgiveness (PSLF) allows borrowers who meet certain criteria to have their federal student loan debt forgiven after ten years of eligible service and 120 qualifying payments on certain repayment plans. More information on PSLF can be found on the Federal Student Aid website.

• What counts as public service? Borrowers must work in public service in occupations such as a teacher, police officer, government employee (including the military), or employee at a not-for-profit organization. Use the eligible employer search tool to determine if your employer qualifies.

There are 3 kinds of repayment plans:

• Standard Repayment Plan: This uses the borrower’s balance to determine the length of repayment and the monthly payment amount, with repayment terms ranging from 10 t0 25 years.
• Repayment Assistance Plan (RAP): This plan is based on a percentage of the borrower’s adjusted gross income, with a minimum payment of $10 and a matching principal payment up to $50. The RAP plan also includes an interest subsidy and a matching principal payment, making it a more affordable option for borrowers with lower incomes.
• Income-Based Repayment: This calculates a monthly payment based on your income.

• You can apply for deferment which is a temporary postponement of payments on your federal student loans; you can apply for deferment on your servicer’s website. If the deferment is granted, the interest on subsidized loans will not accrue.
• You can apply for forbearance which is a temporary stop or reduction in monthly payments for a maximum of 12 months. You can apply for forbearance on your servicer’s website. During forbearance, interest on all loans will continue to accrue.
• Check out the Fresh Start program for borrowers who went into default before loan repayments were paused. Your loan will be rehabilitated and considered current once you enroll, your credit report repaired with any mention of default removed and you’ll be eligible to enroll in the SAVE plan to stay current.

Federal Student Aid (FSA) continues to warn borrowers about student loan scams. With so many recent efforts to create new programs that provide debt relief, even savvy borrowers might find it hard to tell the difference between a scam and legitimate forgiveness and relief efforts.

Beware of any source that is not directing you to FSA or your loan servicer.

In October 2023, 30 million borrowers will begin repayment at the same time. The existing support network will be strained, making it difficult to reach a person who can answer your questions. That’s where Student Connections can help!

Student Connections is passionate about helping students. They partner with schools to provide support for borrowers throughout the student loan repayment process. With more than 60 years of experience in counseling student loan borrowers, their primary goal is to help you find the repayment plan that best fits your needs.

While you are in student loan repayment, Student Connections may contact you through emails, text messages and phone calls to:

• Help you understand your loan obligations and responsibilities.
• Discuss available options for an affordable repayment plan.
• Ensure you are aware of repayment options during financial hardships.
• Promote your long-term repayment success.

Talk to a Borrower Advocate for free at (866) 311-9450. They’re available to answer questions about your outstanding loans and will work directly with you and your loan servicer when appropriate.

Additional Federal Direct Loan information:

• Estimate monthly payments on student loans and compare the repayment plans for a Direct Consolidation Loan

• Information about Public Service Loan Forgiveness Program

• Deferments & Forbearances 

• Consolidating your Loans

• Access your student loan history online through the Federal Student Aid portal
• Contact the U.S. Department of Education’s Student Loan Ombudsman to resolve loan disputes and problems

Five Important Things About Repaying Your Student Loans