Grad PLUS Loans

Grad PLUS Loans

Graduate PLUS Loans are credit-based loans provided through the Department of Education for students in Graduate (master or doctorate level) programs. Because the Grad PLUS loan has a higher interest rate than the regular Federal Direct Unsubsidized Loan, it is only advisable to apply for this loan if you have reached your Graduate Aggregate Loan Limit of $138,500. After completing your FAFSA, there are three steps to request and apply for a Graduate PLUS Loan:

  1. From the www.studentloans.gov website, click on the “Apply for a PLUS Loan” Link under the Graduate/Professional Students heading. There is a strong possibility that you will need to apply for this loan with a Co-Signer

  2. If approved for the Graduate PLUS Loan, you will then need to complete a PLUS Loan Master Promissory Note (MPN). From the www.studentloans.gov website, click on the “Complete Loan Agreement for a PLUS Loan (MPN)" link

  3. You may also need to complete the PLUS Credit Counseling, available on the www.studentloans.gov website. Click on "Complete Loan Counseling" and then select "PLUS Credit Counseling"

If approved for a Graduate PLUS Loan, you can be awarded up to your Cost of Attendance as calculated by the Financial Aid Office.