About Graduate PLUS Loans
This is a loan provided to graduate students by the U.S. Department of Education through the university. This federal loan program allows graduate students without an unfavorable credit history to apply for a loan amount up to their cost of attendance each year, less any other financial aid received. Repayment begins six months after the student is no longer enrolled at least half-time.
- Interest rate and loan fees for the year are determined annually on July 1
- Begin accruing interest at the time of disbursement (unless the borrower requests a deferment)
- Processing fee deducted from each disbursement
- First payment is due within 60 days of the final annual disbursement
- Must complete the Free Application for Federal Student Aid (FAFSA)
- Credit check required
- Minimum: $200
- Maximum: varies by student
Graduate PLUS Loan Application Process
Students may apply for the Graduate PLUS Loan one of two ways:
OPTION 1: Log into MyAwards and “Accept” the Graduate PLUS Loan to initiate the credit check.
OPTION 2: Complete the Graduate PLUS Loan Application Process through Federal Student Aid by following this step-by-step process:
- Log in to the Federal Student Aid portal using your own FSA ID.
- The Federal PIN is no longer used. Students, parents, and borrowers are now required to use an FSA ID, made up of a username and password, to access certain U.S. Department of Education websites.
- Your FSA ID is used to confirm your identity when accessing your financial and loan information and electronically signing your federal student aid documents.
- If you have not yet set up your FSA ID and/or need to replace an existing Federal PIN, please visit the FSA ID website before visiting the Federal Student Aid website.
- Click on the link that reads “PLUS Loans: Grad PLUS and Parent PLUS.”
- Read the small print and then click “Learn More” on the “I am a Graduate or Professional Student” link at the bottom of the page.
- Be sure to choose the correct period for the loans when you complete the PLUS application:
- Full Academic Year with Summer Session: June 2023 to June 2024
- Full Academic Year without Summer Session: September 2023 to June 2024
- In the School Information section:
- Enter a specific amount in the Loan Amount Requested section:
- If you choose to borrow the maximum, the full offered amount in MyAwards will be accepted at the time the application is processed.
- If you do not wish to borrow the maximum, indicate the amount you would like to borrow on the application.
- If you do not indicate the maximum or enter an amount, your application will be delayed.
- For Loan Period, be sure to choose the correct period for the loans when you complete the PLUS application:
- Full Academic Year with Summer Session: June 2023 to June 2024
- Full Academic Year without Summer Session: September 2023 to June 2024
- Enter a specific amount in the Loan Amount Requested section:
- Continue through the application. You will see your approval status immediately.
- If you are approved, click on the “Complete an MPN” link and follow the directions. Take some time to read all the small print as it contains important information about interest, fees, your repayment obligation, and your borrower rights.
- If you are not approved, you will be presented with some options. You can:
- Appeal the decision. Decisions may be appealed by calling Applicant Services at (800) 557-7394.
- Secure an endorser. If you have decided to pursue an endorser, the endorser will complete the “Endorse Direct PLUS Loan” section at studentaid.gov. The endorser will need their own federal PIN to sign the endorser addendum.
- Undecided. No action will be taken by the school. Note: If you change your mind about how to proceed after you have submitted your response, please let us know through Contact An Expert. The case you submit should include your name and contact information, as well as your student’s name and the student ID number.