This loan is not based on financial need, but must be within the cost of attendance determined by the university. The amount a student can borrow is the difference between the cost of attendance and financial aid eligibility. Students must use their full unsubsidized loan eligibility before applying for the Grad PLUS. Grad PLUS loans first disbursed on or after July 1, 2023, have a fixed rate of 8.05%. There is a 4.288% origination fee charged by the federal government. Repayment begins within 60 days of the full loan disbursement.
A valid FAFSA must be on file prior to certification of a PLUS loan. If a student is denied a Federal Graduate PLUS loan due to credit reasons, the student may appeal the denial with the Direct Loan Origination Center or reapply with a credit-worthy co-borrower. The Direct Loan Origination Center can be reached at 1-800-557-7392.
Loan amount varies.
Information on the application for the loan will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.