PLUS LOANS
PLUS LOANS -Graduate or Professional Students
Graduate or professional students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS loans. These requirements include a determination that the applicant does not have an adverse credit history, first repayment due within 60 days of the date of the last disbursement of the loan, and a fixed interest rate of 7.9 percent in the Direct Loan program. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS loan.
Application Forms and Grad Plus Electronic Promissory Note
All applicants must complete the Graduate Student PLUS Loan Application. First time borrowers must complete and sign a GradPLUS Master Promissory Note, and complete the GradEntrance Interview.
While you are enrolled in school on at least a half-time basis, you are eligible for an in-school deferment that allows you to postpone payments on your Direct PLUS Loan until you graduate or drop below half-time status.