Graduate PLUS Loans are not automatically awarded by the Financial Aid Office, and require a credit application available on studentaid.gov (in addition to the FAFSA).
To help you determine the amount of Graduate PLUS Loan needed for the academic year, students should use our Budget Calculator to estimate expenses and other aid resources. Once you finalize your estimate, visit studentaid.gov to apply for a Graduate PLUS loan. Educational loans only can be borrowed during the loan period for which a student is enrolled at least half time. A loan period is defined as the timeframe between the first day of classes and the last day of classes. Loans cannot be borrowed during periods of non-enrollment and new loans cannot be certified after the loan period ends.
Read more on Types of Aid and How to Apply.
- Loan Limit: Up to the cost of education, (or student budget), as determined by the school, less other financial aid awarded.
- Interest Rate: adjusts annually on July 1st and is fixed for the life of the loan. For loans disbursed between 7/1/23 and 6/30/24, the rate is 8.05%. For loans disbursed between 7/1/24 and 6/30/25, the rate is 9.08%.
- Origination Fee: 4.228% for loans disbursed on or after 10/1/20 and before 09/30/24.
- Eligibility: US Citizens or Permanent Residents, who file the FAFSA, are enrolled at least half time and awarded a Direct Unsubsidized Loan.
- Credit Requirements: Based on federal standards. Borrowers must have no adverse credit. Credit score is not used.
- Repayment Terms: Repayment begins when loan is fully disbursed, however, students enrolled at least half-time qualify for In-School Deferment. While enrolled, borrowers may elect to make interest-only or full payments. See the Loan Repayment section of our website for complete information on repayment options.