Graduate Plus Loans

Graduate PLUS Loan Information

The Federal Direct Graduate PLUS Loan is an alternative loan option for students who are enrolled in a graduate or professional degree program. Student must complete the FAFSA for the appropriate academic year. The student borrower will be evaluated for credit-worthiness. If approved, the student will be required to complete a Federal Direct Graduate PLUS Loan Master Promissory Note and Federal Direct Graduate PLUS Loan Entrance Counseling.

Although the Department of Education has not finalized the interest rates for 2023-24, they have announced that they expect that the following rates will be approved:

Plus Loan Rates for 2024-25

• 9.08% Fixed Interest Rate
• 4.228% Origination Fee

Federal Direct Graduate PLUS Loan:

• Lender is the U.S. Department of Education
• Student may borrow up to the cost of attendance, less any other offered aid
• Funds are sent directly to the school
• Repayment begins six months after graduation or dropping below half-time attendance

Important Note:

You must be enrolled at least half time to be eligible for the Federal Direct Graduate PLUS Loan. If you enroll less than full time (less than 9 credit hours for graduate students), your cost of attendance will be adjusted based on your actual enrollment after the 4th day of class. The adjustment may reduce the amount of aid that you are eligible to receive and may change your account balance due or the amount of refund. For more information on what this could mean to you, visit the Cost of Attendance webpage.

To Apply for the Federal Direct Graduate PLUS Loan:

GRAD PLUS LOAN APPLICATIONS FOR SUMMER 2024 and the 2024-25 ACADEMIC YEAR ARE NOW AVAILABLE.

Please read these instructions BEFORE accessing the application.

1. The student borrower must Sign In at https://studentloans.gov/myDirectLoan/index.action, using his or her FSA ID. If student does not already have an FSA ID, please follow the Sign In directions to obtain one. 
2. To begin the Federal Direct Graduate PLUS Loan application, select "Request a Direct PLUS Loan"
3. Select "Graduate PLUS Loan" and complete the four application steps
4. If loan is approved, the student borrower must complete a Federal Direct Graduate PLUS Loan Master Promissory Note and Federal Direct Graduate PLUS Loan Entrance Counseling while logged into https://studentloans.gov/myDirectLoan/index.action