Graduate degree students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS loans also apply to Graduate PLUS loans. These requirements include a good credit history, repayment beginning on the date of the last disbursement of the loan and a fixed interest rate.

Interest Rates and Fees

The interest rate on newly disbursed Direct Graduate PLUS Loans is fixed at 7.9%.  There is an origination fee of 4% with a 1.5% rebate.  This results in a net fee of 2.5% on the gross amount of the originated loan.  Note - If the borrower fails to repay 12 on-time monthly payments, the borrower will be charged the 1.5% rebate originally granted.

Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Direct Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS loan.