Columbia Financial Aid and Educational Financing

Education Loans

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While Columbia does not require loans as part of the financial aid package for any student, families may choose to borrow loans to finance all or a portion of the expected Family Contribution.

Domestic Students

Federal Direct Loans

  • Federal Direct Loans are available to all domestic undergraduate students.
  • Interest Rate = 4.45% for loans disbursed after July 1, 2017.

More information and the Federal Direct Loan application.

Perkins Loans

The Perkins Loan Program is ending as of September 30, 2017. We are unable to process any Perkins Loan requests after this date.

  • You will need to borrow your annual maximum Direct Loan amount prior to being eligible for any Perkins Loan funding.
  • Perkins Loans are subsidized and have a fixed interest rate of 5%.

More information and the Perkins Loan application.

Private Loans

  • Some students choose private education loans when they need more flexible repayment options and more funding than what a federal loan can provide. Borrowing requirements; repayment options; and interest rates will vary from lender to lender.
  • Columbia University provides a few lender options with its Suggested Lender List. This is not an exhaustive list of available lenders. Borrowers should review and verify the exact terms, conditions, qualifications, and disclosures associated with any loan product with the lender.
  • Please use the following school codes for your private loan application:
    • Columbia College = 002707-10
    • Engineering = 002707-04

After applying and being approved for a private loan, make sure to submit an application:

Apply Now

​​We will not certify your loan until you have done so, which might delay payment of your student account.

International Students

Private Loans

  • Private education loans are loans borrowed from a private source, including banks, credit unions, and private lenders. Some families choose private education loans when they need more flexible repayment options.
  • Borrowing requirements; repayment options; and interest rates will vary from loan to loan and lender to lender. Make sure to do your research when considering a private loan.
    • Some lenders may require students to apply with a U.S citizen or permanent resident credit-worthy co-signer.
  • Columbia University provides a few lender options with its Suggested Lender List. This is not an exhaustive list of available lenders. Borrowers should review and verify the exact terms, conditions, qualifications, and disclosures associated with any loan product with the lender.
  • Please use the following school codes for your private loan application:
    • Columbia College = 002707-10
    • Engineering = 002707-04

After applying and being approved for a private loan, make sure to submit an application:

Apply Now

​​We will not certify your loan until you have done so, which might delay payment of your student account.

Parent Borrowers

Direct Parent PLUS Loans

  • Columbia University is now using the Direct PLUS Loan Request process through StudentLoans.gov. This means that you will request the Parent PLUS loan through the Department of Education’s website and will initiate the credit check yourself.
  • Parents who are US Citizens or eligible non-citizens, with a US-based address, are able to borrow up to the Cost of Attendance total in a Parent PLUS Loan through the Department of Education.
  • Interest Rate = 7.00% for loans disbursed after July 1, 2017.
  • Repayment can be deferred until graduation, by arrangement with the loan servicer.

More information on applying for the Parent PLUS Loan.

Private Loans

  • Some students choose private education loans when they need more flexible repayment options and more funding than what a federal loan can provide. Private education loans are loans borrowed from a private source, including banks, credit unions, and private lenders.
  • Borrowing requirements; repayment options; and interest rates will vary from lender to lender.
  • Columbia University provides a few lender options with its Suggested Lender List. This is not an exhaustive list of available lenders. Borrowers should review and verify the exact terms, conditions, qualifications, and disclosures associated with any loan product with the lender.
  • Please use the following school codes for your private loan application:
    • Columbia College = 002707-10
    • Engineering = 002707-04

After applying and being approved for a private loan, make sure to submit an application:

Apply Now

​​We will not certify your loan until you have done so, which might delay payment of your student account.