Federal Graduate PLUS Loans
The Federal Graduate PLUS Loan is an educational loan for regularly-admitted graduate students enrolled and verified in attendance at least half-time. Half-time enrollment is at least three credit hours. Financial need is not a requirement; however, a credit check is required. Graduate students must have utilized all of their Federal Stafford Loan eligibility before eligibility for a Federal Graduate PLUS Loan can be determined. All loan eligibility is based on the Cost of Attendance minus other aid received.
Federal Graduate PLUS Loan interest rates are variable. For the year beginning July 1, 2006, the interest rate for Federal Parent PLUS Loans was fixed at 7.9%. The first payment is due 60 days after the loan is disbursed or six months after the student graduates or drops below a half-time status. The deferment options may be specified in the application process.
Federal Graduate PLUS Loan funds are credited to the student's account once the funds are delivered electronically to the school.
ALL students requesting loans must complete the student financial aid application process (FAFSA).