Federal Direct Graduate PLUS Loans
Available to students admitted and enrolled in a graduate program that has eligibility for additional funding after receiving Federal Direct loans and any other financial assistance. The current interest rate and loan fees can be found here. Repayment begins within 60 days after the final disbursement of that loan’s academic period. The loan maximum cannot exceed the total cost of attendance (budget) minus any other financial aid received (including any Subsidized and Unsubsidized Federal Direct Loans the student is receiving).
To apply for the Graduate PLUS loan, the graduate student will need to complete the Graduate PLUS loan application (includes a credit check), Master Promissory Note (MPN) and a special Graduate PLUS Loan counseling session online. Applicants will be notified directly by the Direct Loan servicer if they are eligible to receive the PLUS loan. If the applicant does not pass the credit check and the Graduate PLUS loan is denied, the credit check may be challenged, additional information and documentation may be provided or an endorser may sign for the loan with the applicant.