Federal Direct PLUS Loans

Graduate students are eligible to borrow under the Federal Direct PLUS Loan Program. Students may borrow up to their full cost of attendance minus other student financial aid. The PLUS interest rate is fixed at 7.9 percent, and applicants must pass a credit review in order to qualify for the loan. Repayment of the loan begins six months after the borrower ceases to be enrolled at least half time, and interest accrues during the period of enrollment and grace period. In addition to interest, these loans have a 4.204 percent origination fee. Graduate applicants must complete the Free Application for Federal Student Aid (FAFSA), and they must have used their maximum eligibility under the unsubsidized Federal Direct Loan Program.