PLUS Loans for Graduate and Professional Degree Students (GRADPLUS)
GRADPLUS loans are low-interest federally insured loans made to students to help pay a student's college expenses. GRADPLUS loans are especially for graduate and professional students.
Eligibility
- Financial Aid: Students do not have to demonstrate financial need to borrow GRADPLUS loans.
- Citizenship: You must be a U.S. citizen or an eligible non-citizen;
- Nondefault: You must not be in default of an educational loan or owe a refund on an educational grant;
- Credit: You must not have an adverse credit history;
- Law: You must meet all of the other federal GRADPLUS Loan program eligibility requirements prescribed by law at the time your loan application is processed.
Value
The maximum annual loan limit is the cost of attendance minus any other financial aid the student is qualified to receive.
This amount is determined by the financial aid office at the school the student will be attending.
You will pay a fee of up to 4.0% deducted proportionately each time a loan disbursement is made.
The fee goes to the government to help reduce the cost of the loans.
Loan Disbursement
The proceeds from your GRADPLUS Loan will be sent to your school.
You must contact the Financial Aid Office to make arrangements to receive your loan proceeds.
Application Procedure
Once you decide which school you wish to attend and accept its offer of financial assistance, the school can certify you as eligible for a GRADPLUS Loan.
Please check the financial aid website at your school for further information.
You can find the contact information for your college in the Explore Schools section.
Repaying Your Loan
- Use the SLOPE (Student Loans Over Projected Earnings) calculator to determine the interest and monthly payments for your student loans based on your potential career choice.
- Download loan repayment forms.