Graduate PLUS Loan

This loan program is a credit-based loan for student's working on a master's or doctorate program. Students must have applied and utilized their federal loan eligibility first before applying for additional funds. For more information about the Graduate PLUS loan review these frequently asked questions.


Who may borrow?

Graduate PLUS loan is available to graduate students who:

  • Are enrolled at least half time (4.5 credits minimum) in a degree-granting program
  • File the Free Application for Federal Student Aid (FAFSA)
  • Pass a credit check

How much may I borrow?

The loan limit for each year is the annual cost of attendance (the "budget") minus other financial assistance.

What is the interest rate?

The interest rate for the Graduate PLUS loan is a fixed 7.21% rate. As with unsubsidized direct loan program and private loans, interest begins to accrue at the time the first disbursement is made.

How do I apply?

What is the difference between a Direct Loan and the Graduate PLUS loan?

The Graduate PLUS interest rate is fixed at 7.21%. The Federal Direct Unsubsidized Loan is fixed at 6.21%. In addition the Graduate PLUS requires a credit check that the Direct Loan does not.

How is the Graduate PLUS repaid?

You will need to contact your lender to request an "in-school deferment". As long as you are enrolled at least half-time your loan can be deferred. Once you drop below half-time or graduate you will begin repayment on principal and interest within 45 days.