Federal Direct PLUS Loan for Graduate Students

Federal Direct PLUS Loan for Graduate Students federal loan program assists with remaining educational costs after the maximum Federal Unsubsidized Direct loan has been applied. Applicants must first file a FAFSA. If you have an adverse credit history, you must have a co-signer who does not have an adverse credit history.

Interest Rate and Fees

A Federal Graduate PLUS loan is a loan funded by the federal government and borrowed by an eligible graduate student to help pay for their education. A federal Graduate PLUS loan is borrowed money borrowers must repay with interest. Interest is a loan expense charged for the use of borrowed money. Additionally, there is a loan fee on all Direct PLUS Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. The percentage varies depending on when the loan is first disbursed. It is important that borrowers understand how interest is calculated and the fees associated with the loan. Both of these factors will impact the amount which they will be required to repay. Specific federal Graduate PLUS loan interest rates and fees may be viewed at the link above.

NOTE: Federal PLUS Loan applications may not be submitted until AFTER the following dates:

  • After April 15 - for graduate students taking summer classes
  • After May 1 - for graduate students taking fall classes

To apply for the Direct PLUS Loan for Graduate Students, you must:

  1. Complete a Federal Direct Graduate PLUS Application.
  2. Complete the Graduate PLUS Entrance Counseling online.
  3. Complete the Loan Agreement for the Graduate PLUS MPN online.