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Grad PLUS Loans

Graduate and professional degree students can apply for a Direct Graduate PLUS Loan to help cover educational expenses. If you are thinking that a Direct Grad PLUS Loan is for you, here are some things to keep in mind:

  • This type of loan is not based on your financial need.
  • Your eligibility is determined by your credit history.
  • The first payment of a Grad PLUS Loan is due 60 days after the final disbursement; however, you may defer repayment while you are enrolled at least half-time.
  • The maximum Grad PLUS Loan amount you can borrow is determined by your cost of attendance minus any other financial assistance you will receive.

Direct Loan Interest Rates

Aid YearDisbursement DatesGraduate PLUS
2014-2015First Disbursed between July 1, 2014 and June 30, 2015Fixed at 7.21%
2015-2016First Disbursed between July 1, 2015 and June 30, 2016Fixed at 5.84%

You may also review additional Graduate PLUS loan interest rate information.

If you wish to apply for a Direct Grad PLUS Loan, you may do so by completing the following steps:

  1. Complete the FAFSA.
  2. Application for the Parent PLUS loan should be completed online at beginning June 1st prior to each academic year.
  3. After signing in, choose ‘Apply for a PLUS Loan’ followed by ‘Complete Request for Graduate PLUS.’
  4. Continue to follow prompts to complete the online application.
  5. If credit is approved, first time PLUS loan borrowers must complete a Direct PLUS Master Promissory Note (MPN) on the same website,