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Grad PLUS Loan

Grad PLUS — For graduate students after all other loans are awarded.

Am I eligible?

To find out if you have loan eligibility, check your financial aid award on AidLink. Your loan award may include a Grad PLUS Loan if you are a graduate student.

Before borrowing:

Before borrowing, explore all other options available including work, scholarships, and grant assistance.

Federal Direct Grad PLUS Loan

Loan Components Grad PLUS Loan
Enrollment Requirement Must enroll at least half time
Loan Fee 4.236% of the amount borrowed of a loan first disbursed on or after October 1, 2019
Interest Rate

Interest rates are subject to change every July 1

7.08% fixed rate on loans disbursed between July 1, 2019 - June 30, 2020

Capitalized Interest Interest is charged from the date the funds are disbursed and capitalizes if not paid.

Borrowing Limits Graduate students can borrow up to their cost of attendance excluding other financial aid, resources and the annual loan limit. See Direct Loan Limits by Degree.
Borrowing Conditions Graduate student should have already activated his/her annual unsubsidized loan.
Credit History Acceptable credit required
Repayment Usually begins within 60 days after the loan is fully disbursed (typically the spring term).

On loans borrowed on or after July 1, 2019: You may request a deferment while enrolled at least half time at an eligible school. Interest accumulates and capitalizes while in deferment.

Get more info

For detailed information on Direct PLUS Loans, visit the Direct Loan section of the Federal Student Aid website.

federal student aid: An Office of the US Department of Education