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Graduate PLUS Loan Program

Approved by the Department of Education. Available to graduate/professional students who are U.S. citizens, permanent residents, or eligible non-citizens. A credit check is required of all students. Students may borrow up to the full cost of their education less any other aid received.

The Direct PLUS loan is considered a loan of last resort.  Interested students should borrow total eligibility under the Federal Direct Stafford Unsubsidized loan programs before considering borrowing from the Direct Plus program.

Interest rate:          Notified June 30 of each year

Loan fees:              4.2% (taken off the top of the loan amount)

Loan Limit:             Up to the cost of attendance, less other aid received

What are the requirements?

  • Complete PLUS Loan Master Promissory Note
  • Complete the Federal Graduate PLUS loan entrance counseling through (1st time borrowers)
  • Credit approved (A co-borrower/endorser option is available if the student does not qualify)

Other features?

In-school deferments are available for graduate and professional students attending at least half-time.  Payment then begins six months after graduation or in the event the student drops below half- time enrollment.  The student/borrower is responsible for all interest that accrues. Any unpaid interest will be capitalized (added to the loan principal).

Federal Direct PLUS loans may be consolidated with Federal Direct Loans.