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 $138,000. There are two 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

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