Graduate PLUS Loan
View the Loan Application Process
The Direct Graduate PLUS Loan is an excellent option to assist in financing a college education. It is available to Graduate students enrolled at least half time (at least 3 units per semester). Generally, a student can borrow up to the Cost of Attendance less any other Financial Aid they are receiving.
Repayment
Interest begins to accrue after the first disbursement, and repayment of principal and interest begins 6 months after a student graduates, leaves school, or drops below half-time enrollment.
| ACADEMIC YEAR | FIRST DISBURSEMENT | LOAN TYPE | INTEREST RATE |
|---|---|---|---|
|
2023-24 |
On or after July 1, 2023 and |
Graduate PLUS Loan | 8.05% |
|
2024-25 |
On or after July 1, 2024 and |
Graduate PLUS Loan | 9.083% |
Origination Fee
All Direct PLUS Loans are subject federal origination fee which is subtracted from the loan at the time of disbursement.
| First Disbursement | Loan Fee | Fee on a Loan Amount Of |
|---|---|---|
| On or after October 1, 2020 and before October 1, 2026 |
4.228% | $422.80 on a $10,000 loan |
Annual Loan Amount
When completing the loan application, the Graduate student will have the option to either:
- Specify a loan amount
- OR
- Borrow the maximum Direct Graduate PLUS Loan amount for which I am eligible, as determined by the school and the student's Cost of Attendance
Loan Amount Changes & Adjustments
If an adjustment to the amount of the Direct Graduate PLUS Loan is needed for any reason, the student must complete and submit a Loan Change Request Form before the start of the term.