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Federal Graduate PLUS Loan

Before you borrow a Graduate PLUS loan, make sure you have utilized your Federal Stafford loan eligibility first!

Students enrolled at least half time (4.5 credit hours) in a graduate program of study are eligible to borrow a Federal Graduate PLUS loan. The Graduate PLUS loan is a great alternative to private loan borrowing, offering graduate students some loan benefits that private loans may not offer.

Currently, the Grad PLUS Loan has a fixed interest rate of 7.21% and an origination fee of 4.288%.

 

First time Grad PLUS Loan borrowers, please complete the following steps:

  • Complete the PLUS Loan application, credit check and Master Promissory Note (MPN) by clicking here. If denied due to adverse credit, the Department of Education will give you instructions on how to apply for the loan with a cosigner if you are able. For additional information on how to obtain a cosigner addendum, please visit http://studentloans.gov.

  • Complete the Grad PLUS Entrance Counseling by clicking here.

  • Complete the PLUS Loan Authorization form for each academic period. We suggest to complete the request for the full year to simplify the loan process. By doing so, your credit will only be run once. Click here to download the authorization form. (Please return form to the Financial Aid Office. The form can also be faxed or scanned and emailed to the contact information on form.)



Returning Grad PLUS Loan borrowers, please complete the following steps:

  • Complete the PLUS Loan application by clicking here. (If it has been more than 90 days since your credit was run for your previous PLUS loan, you will need to complete a new credit check online.)

  • Complete the PLUS Loan Authorization form to inform the financial aid department how much you wish to borrow for each academic period. We suggest to complete the request for the full year to simplify the loan process. By doing so, your credit will only be run once. Click here to download the authorization form. (Please return form to the Financial Aid Office. The form can be faxed or scanned and emailed to the contact information on form.)

 

A credit check is associated with the Graduate PLUS loan application process. The Department of Education will perform the credit check to determine credit status. If denied due to adverse credit, you may obtain a cosigner and apply for an addendum. Please visit http://studentloans.gov for additional information on this process.

Your loan will be placed into deferment while you are enrolled at least half-time and for an additional six months after you cease to be enrolled at least half-time. The interest will accrue on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due. Loan servicer information can be found online: http://www.nslds.ed.gov

For a loan repayment calculator, click here.

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