Important Notice: Beginning in the 2026-2027 Aid Year The Federal Graduate PLUS Loan is no longer available to new borrowers. Review information on how federal aid is changing based on The One Big Beautiful Bill.
Federal Graduate PLUS Loan
The federal direct Grad PLUS loan is a credit-based loan that graduate students may borrow to help pay their educational expenses. The graduate student borrower may borrow up to the total cost of attendance minus any other financial aid received.
First time borrowers will be required to complete a Master Promissory Note before loan funds can be disbursed.
Loan Eligibility Requirements
- You must be enrolled in a graduate degree or approved certificate program at the university.
- You must be meeting Satisfactory Academic Progress (SAP).
- You must be enrolled for at least six credits.
- You must have a FAFSA application on record
- If selected for verification, all required documents must be submitted and verification must be complete prior to the loan being processed.
Application Process
Graduate students will be offered a Grad PLUS Loan as part of the students financial aid package as long as the student meets eligibility requirements and the loan fits within the students cost of attendance after other financial aid.
Your application will not be processed if you placed a freeze on your credit report. If you have placed a credit freeze, you must lift or remove the freeze at each of the credit bureaus listed below before you continue.
Equifax
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Contact Number: 1-888-EQUIFAX (1-888-378-4329)
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Website: equifax.com
TransUnion
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Contact Number: 1-800-916-8800
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Website: transunion.com
- Students will be able to accept their loan on SOLAR under "Financial Aid" in "Awards" under Accept/Decline in the aid year in question.
Step 2: Loan request will be send to the Department of Education
- The university will submit your loan request to the US Department of Education and the department will perform a credit check to determine your eligibility for the Grad PLUS Loan. The Department of Education will inform our office about the outcome of your credit decision.
If Approved:
- Student will need to complete a Grad PLUS Loan Master Promissory Note (MPN) if you do not already have a active MPN on file. Students will also need to complete a Direct Loan Entrance Counseling (EC) if you do not already have a active EC on file.
If Denied:
You can select the option to pursue an appeal with the Department of Education by documenting any extenuating circumstances related to your adverse credit history. Following this selection, you will receive an e-mail confirming your intention. You can then contact the Federal Student Loan Support Center for additional instructions on how to proceed, including how to complete the Credit Counseling Requirement online. Once complete and if your appeal is approved our office will receive notification from the Department of Education to process your loan.
Interest Rates and Origination Fees
The interest rate for a federal student loan varies depending on: The table below provides interest rates for Direct Subsidized Loans, Direct Unsubsidized
Loans, and Direct PLUS Loans first disbursed on or after July 1, 2025, and before
July 1, 2026. All Interest rates shown above are fixed rates. A fixed rate will not change for
the lift of the loan. If your loan was disbursed before July 1, 2025 you likely have a different interest
rate. How Is The Interest Rate Determined Interest rate is determined annually for all loans first disbursed during any 12-month
period beginning on July 1 and ending on June 30, and is equal to the high yield of
the 10-year Treasury notes auctioned at the final auction held before June 1 of that
12-month period, plus a statutory add-on percentage that varies depending on the loan
type. Interest begins accruing as the loan is disbursed. Borrowers may choose to repay the
interest monthly, quarterly, or have the interest capitalized. Repayment of the principal
balance plus interest begins 60 days after the loan has disbursed. However, the borrower
can defer payments while that are enrolled at least half time (six credits) by contacting
the loan servicer. To locate your servicer log into studentaid.gov. Most federal student loans have loan fees. These fees are a percentage of the total
loan amount. A loan fee comes out of the amount of money that is disbursed (paid out) to you while
you’re in school. This means the money you receive will be less than the amount you
actually borrow. You’re responsible for repaying the entire amount you borrowed and not just the amount
you received. The information below shows the loan fees for Direct Subsidized Loans and Direct Unsubsidized
Loans, first disbursed on or after Oct. 1, 2019.
Undergraduate Loans
Graduate or Professional Loans
PLUS Loans
View interest rates for loans disbursed earlier.
Direct PLUS Loan Fees
Additional Resources
Federal Student Aid Website for additional information on student loans.
NSLDS CONSUMER LOAN DISCLOSURE INFORMATION
Institutions that enter into an agreement with a potential student or parent of a student regarding a Title IV loan are required to inform the student or parent that 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. [HEOA Sec. 489 amended Sec. 485B (d) (4) (20 U.S.C. 1092b)]