Graduate PLUS Loan

Steps to apply ONLINE

The Grad PLUS loan is a Federal Direct Loan for graduate or professional students to help pay for educational expenses not covered by other financial aid. Eligibility is not based on financial need but does require a credit check for approval. Credit checks remain valid for 180 days, therefore, it is recommended to apply no sooner than 1 month prior to when the loan is needed.

A PLUS loan can cover the full academic year (split evenly between semesters) or you can apply one semester at a time.  A PLUS loan, in combination with a student's other financial aid, cannot exceed a student’s cost of attendance. Students are encouraged to exhaust all other financial aid options prior to seeking PLUS or private loans.

  • Loan is taken out by the student
  • A valid FAFSA must be on file to reiceve the loan
  • 8.05% fixed interest rate on loans disbursed on or after July 1, 2023
  • 4.228% origination fee*
  • Repayment begins 6 months after a student graduates, withdraws, or falls below half-time enrollment
  • Loan is typically disbursed roughly one week after everything is completed, and school has started

Frequently Asked Questions

To apply for a Federal Direct Graduate PLUS Loan, it is necessary to complete the steps below:

  1. Apply for a PLUS loan: This step should be done for initial applications, as well as requests for an increased amount, or additional loan. The borrower  must log in using their FSA ID (what was used to sign the FAFSA). If you do not have an FSA ID, you can create one here. If you are unsure of the amount you’d like to request please select “maximum” so we may contact you, or contact the financial aid office directly.
  1. PLUS Loan Agreement (MPN): The Graduate PLUS MPN is different from the Direct Unsubsidzied Loan MPN. Borrowers should complete an MPN for EACH type of loan they expect to use.
  2. Annual Student Loan Acknowledgement *optional*: Log in using your FSA ID to review borrowing.
* Origination fees change annually on October 1st. For loans originated prior to 10/1/20 loan fee is 4.236%