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Graduate PLUS Loan Program

Details of the Federal Graduate Plus Loan


  • full or half-time graduate students.
  • U.S. citizen/national or an eligible non-citizen.
  • Must first apply for maximum annual loan eligibility in the Direct Unsubsidized loan programs.

Credit Requirements:

This loan is based on being credit-ready; therefore, your income, debt, credit score and assets are not factors for approval; however, negative credits items are grounds for denial (tax lien, charge off, delinquent accounts, etc.). An option is available to obtain a co-signer/endorser if the loan is denied.

Annual/Aggregate Limits:

Up to the cost of attendance less any awarded aid (i.e. other loans, scholarships and federal work-study) per academic year.

Interest Rate:

Federal student loan rates are linked to the Federal 10-year Treasury rate, plus a small margin. The interest rates are fixed for the life of the loan. The rates for new loans will change annually, based on the current market.

The law continues to authorize the Department of Education to offer interest rate reductions to Direct Loan borrowers who agree to have electronic payments automatically debited from a bank account.

Loan Fees:

The government charges an origination fee percentage of the loan amount. This fee is subject to change by the government. In the past few years it has ranged from 4.236 to 4.276.

Loan Repayment:

Repayment commences within 60 days following the last disbursement. Graduate/professional students will automatically receive an in school deferment until enrollment drops below half-time status or at graduation. The standard repayment period is 10 years; however, for balances above $30,000 the repayment period may be extended to 25 years.