Federal Graduate Student PLUS Loan (Grad PLUS)
Federal Direct Loan Programs – Graduate Students
Graduate students are eligible for unsubsidized federal loans to help cover educational costs. Loans accrue interest from the time of disbursement, and students are responsible for all interest.
Direct Unsubsidized Loan
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Eligibility: Available to graduate students enrolled at least half-time in a degree-seeking program.
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Interest Rate: Fixed at 7.94% for loans first disbursed on or after July 1, 2025, and before July 1, 2026.
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Annual Loan Limit: Up to $20,500 per academic year.
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Aggregate Limit: Up to $100,000 total for graduate study.
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Origination Fee: 1.057% deducted from each disbursement (loans disbursed October 1, 2024 – October 1, 2025).
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Disbursement: Typically in two equal payments, one per semester; prorated for single-term loans.
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Repayment: Begins six months after graduation, withdrawal, or dropping below half-time enrollment. Interest accrues during the grace period.
Graduate PLUS Loan
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Purpose: Provides additional unsubsidized funding for students who have reached the Direct Unsubsidized Loan limit or have unmet educational costs.
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Eligibility: Must be enrolled at least half-time, be a U.S. citizen or eligible non-citizen, and have no adverse credit history.
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Interest Rate: Fixed at 8.94% for loans first disbursed on or after July 1, 2025, and before July 1, 2026.
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Loan Fee: 4.228% deducted from each disbursement (loans disbursed October 1, 2024 – October 1, 2025).
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Application: Apply online through the Federal Student Aid Graduate PLUS application. Credit check required; additional steps may apply if credit history is adverse.
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Repayment: Begins immediately after disbursement, but students can request deferment while enrolled at least half-time. Interest accrues during deferment.
Additional Information
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Master Promissory Note (MPN): Required for first-time borrowers. Loans will be canceled if the MPN is not completed within 30 days.
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Entrance Loan Counseling: Required for all first-time borrowers before disbursement; available online or in the Financial Aid Office.
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Exit Loan Counseling: Required when a borrower graduates, withdraws, or drops below half-time enrollment; available online or in the Financial Aid Office.
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Loan Deadlines:
Loans will not be processed for prior semesters or to cover past-due balances. Students with significant outstanding balances may have registration restrictions.