The staff of the office of Student Financial Services recommends that students and
their families utilize our monthly payment plan to finance all or a portion of the
gap between the direct costs of attendance less the financial assistance offered.
The Parent PLUS loan is a federally-backed loan program that allows for parents of
undergraduate students to borrow funds up to the student’s total cost of attendance
(as determined by the Student Financial Services Office) less awarded financial aid.
The Parent PLUS loan has a fixed interest rate of 6.84% with options of deferring
repayment until after the student graduates.
Franklin Pierce recommends that parents who choose the deferred payment option make
interest payments on the PLUS loan to avoid capitalization. As a Direct Loan participant,
Franklin Pierce University will only process PLUS loans that are approved directly
through the U.S. Department of Education. View the Parent PLUS Loan Application.
The staff of the Office of Student Financial Services recommends that students and
their families maximize all federal, state, and institutional financial aid programs
first when financing a Franklin Pierce University degree.
We recommend that parents of undergraduate students seek the Federal Direct Parent
PLUS loan as the preferred loan program to pay for costs not covered by the Federal
Direct Stafford Loan programs and other sources of financial aid. Students who use
an Alternative Loan may borrow from the lender of their choice, but must notify the
Office of Student Financial Services.
As a service to our students, Franklin Pierce University is providing a list of preferred
lenders that can be viewed by clicking on the link below. This site also provides
a comparison tool and other resources that you may find useful in your search for
alternative financing options. We recommend these lenders based on the quality of
products and services they provide to students and families. We have carefully considered
our selections in order to provide you with the best possible list of suggested lenders.
However, if you wish to use another lender that is not on this list, you have the
right to do so. View a list of preferred lenders.
Alternative Loan Resource for International Students