Federal Direct Graduate PLUS Loan

Grad PLUS Loans are federal loans that graduate and professional students with good credit history may borrow to help pay educational expenses if you are enrolled in at least 5 credits per semester.

A student may borrow up to the total of the Estimated Cost of Attendance less resources and other financial aid. The interest on a Federal Direct Grad PLUS loan borrowed between July 1, 2014 and June 30, 2015 is 6.21% and is charged on the loan from the time the loan funds are disbursed until it is paid in full.  An origination fee of 4.292% is taken off your requested amount.  PLEASE NOTE: The interest rate for 2015-2016 academic year will not be available until after June, 2015.

Applying for a Grad PLUS Loan

To apply for a Grad PLUS loan you must first complete the FAFSA. Subsequently, you will be required to submit to credit check, sign a Grad PLUS Master Promissory Note and complete Entrance Counseling session. In addition, to be eligible for a Grad PLUS Loan, you must be enrolled at least five credits per semester.


To be eligible for a Grad PLUS Loan, you must submit to a credit check by the U.S. Department of Education. You authorize the credit check when you agree to the Award Letter Financial Aid Terms and Conditions.

Grad PLUS Loan Processing / Receipt of Funds

The Direct Loan Processor will notify you and our office of the result of the credit check. You cannot be 90 days or more delinquent on the repayment of any debt or the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of a Title IV debt during the last five years. If credit is approved, loan funds will be disbursed. The funds will be applied to tuition, fees, and other university charges.


If a Grad PLUS disbursement generates a refund, the refunded amount will be deposited into your Higher One account.

Repayment of Federal Direct Grad PLUS Loans

Repayment begins within 60 days of the final loan disbursement during the academic year. Principal and interest payments may be deferred if you meet deferment requirements. Your Federal Direct Grad PLUS will be automatically deferred if you're enrolled at least half-time in a degree seeking program. For more information regarding Direct Grad PLUS loans, such as interest rates, processing fees, deferment, repayment, and more please visit Federal Student Aid.

You can estimate your monthly payments with various repayment plans by using the repayment calculators available online from the U.S. Department of Education’s Direct Loan Web site.

Deadline to Complete 2014-2015 Grad PLUS Loan Request:

  • 2014-2015 Academic Year Loan Period: May 13, 2015
  • 2014 Fall Only Loan Period: December 11, 2014
  • 2015 Spring Only Loan Period: May 13, 2015

Deadline to Complete 2015-2016 Grad PLUS Loan Request:

  • 2015-2016 Academic Year Loan Period: May 10, 2016
  • 2015 Fall Only Loan Period: December 11, 2015
  • 2016 Spring Only Loan Period: May 10, 2016

How to Apply for a Graduate PLUS Loan (fall 2014 - spring 2015)

How to Apply for a Graduate PLUS Loan (fall 2015 - spring 2016) - available mid-April

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