PLUS Loans for Graduate Students

The Graduate PLUS is a federal borrowing opportunity for students who have a baccalaureate degree and are enrolled at least half time (4 credit hours) in a degree-seeking graduate or professional program. The interest charged on the Graduate PLUS borrowed between July 1, 2016 and June 30, 2017 is 6.31% and there is a 4.272% origination fee. Repayment is typically figured for a period of 120 months and begins when you are no longer enrolled at least half-time. Monthly payments are approximately $12.50 for each $1000 borrowed. Click here to learn more about the Graduate PLUS. 

The Graduate PLUS loan application process is done online at StudentLoans.gov. You will first need to log into the site using your FSA ID. If you do not have an FSA ID you can request one at this site. If you are first-time Grad PLUS borrower, upon loan approval, you will be required to complete federally-mandated entrance counseling. Also, first-time borrowers will need to complete a Master Promissory Note. You should do this before leaving the loan application website.

Federal Regulations require Graduate PLUS borrowers to complete Entrance Counseling. Entrance Counseling provides information on the loan and loan program, interest rates, and estimated monthly payments. To complete this requirement login at Studentloans.gov and under "Counseling Type" select "entrance counseling as a graduate or professional student."