Federal Direct Grad PLUS Loan (Graduate Students Only)
The Federal Direct Grad PLUS loan is available to eligible graduate students. The maximum loan amount is calculated by subtracting other aid from the cost of attendance. Grad PLUS borrowers are subject to a credit check to determine creditworthiness. An origination fee is deducted from the loan amount; therefore, you may wish to increase your loan request to accommodate this fee. You may call us for assistance in determining a Grad PLUS loan amount. For more information regarding the Federal Grad Direct PLUS Loan, click here.
Graduate students must have a FAFSA on file for the school year they wish to apply for Grad PLUS.
To be approved, you must not have an adverse credit history. If you are denied a Graduate PLUS loan because of adverse credit, you may reapply with a credit-worthy cosigner. If there are documented extenuating circumstances related to your credit history, you may also appeal the denial.
Conditions that result in an adverse credit history include:
One or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent, or that have been placed in collection or charged-off (written off) during the two years preceding the date of the credit report.
Having been subject to any of the following conditions during the five years preceding the date of the credit report:
Discharge of debts in bankruptcy
Write-off of a federal student aid debt
Can be found here. These interest rates are fixed for the life of the loan. Interest begins accruing when the loan is first disbursed and continues to accrue throughout the life of the loan. You can pay the interest directly to your servicer as it accrues if you wish. If not paid, interest will be capitalized when repayment begins.
A loan origination fee is proportionately deducted at the disbursement of each installment of the loan. Origination fees can be found here.