The Federal Direct Graduate PLUS Loan is long-term, fixed-rate loan that graduate or professional students can use to help cover educational expenses. Graduate or professional students may borrow up to the cost of attendance minus other financial aid. Students must be enrolled at least half-time. The Department of Education is the lender. This loan does accrue interest beginning on the date of your loans first disbursement. There is an origination fee. For more information regarding interest rates and origination fee.
Apply Online. You will need your FSA ID username and password used to complete the Free Application for Federal Student Aid (FAFSA) in order to complete the application. If you forgot your FSA ID username or password you can request or reset by visiting this link.
Who is eligible?
Graduate or professional students enrolled at least half-time in degree seeking coursework and maintaining Satisfactory Academic Progress (SAP). Students must complete the Free Application for Federal Student Aid (FAFSA) and meet general eligibility requirements for federal student aid.
More information regarding eligibility.
Will I have to pay it back?
Yes. Repayment of both principle and interest will begin once your loan is fully disbursed or if the student drops below half-time. Students may contact the loan servicer to request a 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. If your loan is deferred, 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.
More information regarding loan repayment.
If I am eligible, what is my next step?
If you are a new borrower of a Federal Direct Graduate PLUS Loan, you will need to sign a Master Promissory Note, complete Entrance Counseling and the Annual Student Loan Acknowledgment. You must sign the Master Promissory Note and complete Entrance Counseling before your loan will be disbursed. You will be required to sign in using your name, date of birth, social security number and your FAFSA PIN number.
More detailed information about the Federal Direct Graduate PLUS Loan program.