Graduate PLUS Loans are not automatically awarded by the Financial Aid Office, and require an application independent from the FAFSA form available on studentaid.gov. Students must calculate how much they plan to borrow and initiate the application process.
Read more on How to Apply for a Loan.
- Loan Limit: Up to the cost of education, as determined by the school, minus other financial aid received for the same academic period.
- Interest Rate: adjusts annually on July 1st and is fixed for the life of the loan. For loans disbursed between 7/1/20 and 6/30/21 the rate is 5.30%
- Origination Fee: 4.248% for loans disbursed on or after 10/1/18 and before 9/30/19. 4.236% for loans disbursed on or after 10/1/19 and before 9/30/20. (subject to change as a result of the Budget Control Act of 2011)
- Eligibility: US Citizens or Permanent Residents, who file the FAFSA, and are enrolled at least half time, and are awarded a Direct Unsubsidized Loan.
- Credit Requirements: Based on federal standards. Borrowers must have no adverse credit [PDF]. 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.