Factors to consider when borrowing additional loans
All students' financial aid awards are originally packaged to an estimated Direct Cost of $55,130 (Full-time tuition, Fixed Fees, and Housing & Food).
| Semester | Annual | |
|---|---|---|
| Full Time Tuition (12-19 CREDITS) | $20,835 | $41,670 |
| Housing and Food | $6,030 | $12,060 |
| Fixed Fees | $700 | $1,400 |
| Total Direct (Billable) Charges: | $27,565 | $55,130 |
Students have the option of borrowing up to the Cost of Attendance. The estimated 2025-2026 Cost of Attendance for full-time students is $59,302.
Total Cost of Attendance includes allowances for Books and Supplies of $800, Personal Expenses of $1,900, Transportation Expenses of $1,400, and Loan Fees of $72 for a total cost of attendance of $59,302 for the year.
Get more details on our Tuition and Fees page.
The Office of Financial Aid encourages all students to borrow responsibly.
The federal student loan programs generally provide better terms and conditions including a lower interest rate and fewer fees, therefore, we recommend borrowing federal loans prior to borrowing any private education loans. In order to receive federal loans, students must complete the Free Application for Federal Student Aid (FAFSA), to apply online go to the FAFSA website.
Prior to borrowing either a Federal Direct Parent PLUS Loan or a Private Education Loan, it is recommended that you use the Financing Worksheet to determine the amount of loan you will need to borrow. Please note that the Parent PLUS Loan is one alternative for paying the balance, the Business Office also offers an interest-free monthly installment plan. Get more information about Carroll's installment plan.
For an overview on the different terms of Private Education Loans vs. Federal Direct Parent PLUS Loans, please review the comparison chart.
Federal Direct Parent Plus Loan (Parents Borrow) »
Dependent Students Only
It is recommended you apply before August 1, 2025 for the 2025-2026 academic year if you want the funds available for fall semester payment.
The Federal Direct PLUS Loan Interest Rate for academic year 2024-2025 is fixed at 9.083%. The Default Insurance Fee for Federal Direct PLUS Loans where the first disbursement is made on or after October 1, 2022, the fee will be 4.228%. Visit the Direct Loan website for additional information.
Beginning early June 2025 you may complete your Direct PLUS Loan Application online (includes pre-approval). Note: Students must have a processed FAFSA (Free Application for Federal Student Aid) on file with Carroll College prior to processing a Direct PLUS Loan.
Processing a Federal Direct Parent PLUS loan for 2025-2026: Make sure you have completed the 2025-2026 FAFSA. Your parent will need to log on to www.studentaid.gov using the parent FSA ID and complete the Parent Plus Loan Request and Master Promissory Note (if a first time borrower).
Parent PLUS Counseling is required when the U.S. Department of Education has informed you that you must complete PLUS Counseling.
If you are denied a Direct PLUS Loan, you may appeal the denial or use an endorser through the Federal Student Aid website, or your student may choose to request additional Direct Unsubsidized Stafford Loan funds by contacting the Financial Aid Office.
Facts about Federal Direct PLUS Loans
Parents of a full or part-time undergraduate dependent students may take out a Federal Direct PLUS loan to assist the student in paying for college. This loan is a parent loan not a student loan.
- The borrowing limit is the cost of attendance minus any aid the student will receive.
- The parent is responsible for the repayment of the loan.
- Repayment begins within 60 days after the loan is fully disbursed.
- The parent must meet minimal credit requirements (no adverse credit).
- Federal Direct PLUS loan interest is fixed at 9.083%.
