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Federal Direct PLUS Loan for Graduate/Professional Students

The Federal Direct PLUS Loan for Graduate/Professional Students provides a borrowing option for graduate and professional students. Based upon the Free Application for Federal Student Aid (FAFSA) and the student's credit history, a graduate/professional student may borrow up to their cost of attendance (less any other financial assistance they may be receiving) through this federally guaranteed, non-need-based loan program.

Borrower

Graduate or Professional Student

Loan Eligibility

Graduate and professional students enrolled at least half-time in an eligible program of study, who:

• Have completed the Free Application for Federal Student Aid (FAFSA)
• Are U.S. citizens or eligible non-citizens
• Are not in default on any federal educational loans
• Meet meet Satisfactory Academic Progress (SAP)

How to Apply

1. Complete the Free Application for Federal Student Aid (FAFSA)
2. Complete the
3. Complete for the Federal Direct PLUS Loan for Graduate/Professional Students
4. Complete the

Borrowing Limits

Up to the student's cost of attendance (less any other financial assistance the student may be receiving).

Interest Rate

9.08% fixed interest rate during the repayment for loans disbursed on or after July 1, 2024.

Fees

4.228% origination fee for loans disbursed after October 1, 2021; deducted from the borrowed value prior to disbursement.

Repayment Information

Repayment of both principal and interest begins one month after you graduate or drop below half-time enrollment and generally extends over a 10-year period.  is required for any federal student loan borrower each time they graduate or drop below half-time enrollment.You can apply for temporary deferment of payments if you become unemployed, experience economic hardship, or meet other approved criteria. There are different , and you may choose one that best fits your circumstances. You may be able to estimate your monthly payment amounts using a .

NOTE: Information about your loans will be reported to the . Information in NSLDS is accessible to schools and loan servicers for the specific purposes as authorized by the Department of Education.

Additional details regarding the Federal Direct PLUS Loan for Graduate/Professional Students, including loan forgiveness, repayment options, and borrower defense to repayment, may by found at .

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