LAKERS TOGETHER: Grand Valley is preparing for successful learning experiences when classes resume on Aug. 31. Learn more about the plan for fall in this handbook.
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 Federal Graduate PLUS loan review these frequently asked questions.
Federal Graduate PLUS loan is available to graduate students who:
The loan limit for each year is the annual cost of attendance (the "budget") minus other financial assistance.
Interest Rates & Processing Fees:
As with unsubsidized direct loan program and private loans, interest begins to accrue at the time the first disbursement is made.
A credit check will be performed once you accept the Federal Grad PLUS loan on myBanner. If you have an adverse credit history, you may still receive a Federal Grad PLUS Loan through one of these two options:
You can read more about both options, and take the next steps at www.studentaid.gov. With either option 1 or option 2, you also must complete credit counseling for PLUS loan borrowers at www.studentaid.gov.
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.