Graduate PLUS Loans

The Federal Direct PLUS Loan for Graduate Students allows students to borrow funds beyond the limits of the Federal Direct Loan Program.

PLUS Loan Application for Graduates

Eligibility

The Grad/PLUS Direct Loan requires that the student borrower:

• Complete the FAFSA (Free Application for Federal Student Aid)
• Be enrolled a minimum of half-time status and maintain academic progress.
• Applicants must have their maximum eligibility in the Direct Loan Program before PLUS loan funds are applied

Borrowers are required to have a credit history without adverse entries.

Graduate PLUS Loans have a variable fixed interest rate of 7.54% for loans in 2022-2023 beginning July 1, 2022. Repayment begins on the date of the last disbursement without a grace period. Borrowers may request a deferment of repayment while in school at least half-time and during the six months after a student is no longer enrolled half-time.

Once your loan has been approved, you will be able to complete a Master Promissory Note. If your loan is denied, you can appeal the credit decision and seek and endorser (co-signer).

More information about Graduate PLUS loans can be found on the Federal Student Aid website