Parent Loan Comparison

Are you a parent looking to learn more about your loan options? If so, you're in the right place. Learn more about your loan options and how to apply.

Loan Options

Federal Loans

 Interest Rate/Origination FeeBorrowing LimitsEligibility
Parent PLUSRate - 7.54%
Orig Fee - 4.228%
Up to Cost of AttendanceCannot have an adverse credit history


State Loans

 Interest Rate/Origination FeeBorrowing LimitsEligibility
NC AssistRate - 6.25%
Orig Fee - 0%
Up to Cost of AttendanceMust be credit-worthy and have the minimum
required credit score


Private Loans

 Interest Rate/Origination FeeBorrowing LimitsEligibility
Varied LendersBased on Credit ScoreUp to Cost of AttendanceRefer to our Recommended Lender
List for more information



How To Apply

  1. Complete the FAFSA online. 
  2. Be sure to have the results sent to Duke University by entering school code 002920 at the end of the form.
  3. Determine how much debt you can afford by completing the Parent Loan Repayment Calculator
  4. Complete the PLUS loan application online. To complete the application, you will need the following:
    • Your and your student's Social Security numbers
    • Your federal PIN number (the one you used to sign your student's FAFSA)
    • NOTE: The application begins with a credit check. Credit checks are good for 180 days. If you are denied a PLUS loan, read below for additional steps.
  5. If this is your first time receiving a Direct Loan, you will need to complete a Master Promissory Note
  6. Any adjustments you need to make to your award can be done with assistance from your financial aid counselor

Additional steps in the event your PLUS loan is denied due to adverse credit history:

  • Complete PLUS Credit Counseling along with one of the following: 
    • Obtain an endorser, similar to a co-signer, who will take responsibility of the loan and repay the borrowed amount in an instance of default
    • Provide documentation in an appeal process to prove that the information related to your adverse credit history is incorrect or that there are extenuating circumstances related to the adverse credit history
  1. Review the full borrower requirements and eligibility criteria at CFNC.org, the College Foundation of North Carolina.
  2. Fill out an application for the NC State Assist Parent Loan. Once completed, you can check your status online with CFNC.
  3. If approved, CFNC will contact the Karsh Office of Undergraduate Financial Support directly to process your loan and apply it to your student’s Bursar account.
  1. Review the Recommended Lender List and explore additional lending options as needed.
    • While parents may borrow from lenders not included on the Recommended Lender List, the lenders on this list participate in our ElmSelect lender comparison tool. This tool can be used to compare rates, terms, and calculate your future payments. The ELM Select comparison tool may help you determine which borrowing option may be best for you.
  2. Apply online at the website of your preferred lender.
  3. Complete the self-certification form at your lender’s website.
  4. Once your application process is completed according to the lender's instructions, we will receive confirmation from your lender and the funds will be added to your student’s Bursar account.