Federal Direct Graduate PLUS Loans
A graduate student may borrow a Federal Direct Graduate PLUS Loan to finance all or any portion of the cost of attendance after all other financial aid has been deducted. In order to qualify for a Graduate PLUS Loan, a FAFSA must be submitted. A credit check is required for the Graduate PLUS Loan.
The Federal Direct Graduate PLUS Loan has an up-front fee of 4.264%. The interest rate for this loan is fixed at 7.6% disbursed July 1, 2018 to July 1, 2019.
Graduate students may borrow up to the cost of attendance (tuition, fees, room, board, books, travel expenses, and miscellaneous expenses) minus all financial aid that they are receiving. Standard repayment is 10 years and begins 60 days after the loan is fully disbursed. Repayment plans based on income and other flexible payment plans are available at http://studentaid.ed.gov/sa/repay-loans.
Repayment may be deferred (with interest accruing) until after the student graduates or ceases to be enrolled at least half-time. Interest-only payments are available during this period of deferment.