A Graduate PLUS Loan is a Federal Direct Loan offered to graduate students through the U.S. Department of Education. The PLUS loan is a credit-based loan that many graduate students borrow to help pay educational expenses. Graduate students may borrow up to the cost of attendance after all other aid has been deducted. The interest rate on the Graduate PLUS Loan is determined annually by federal law. Similar to Stafford Loans for students, the PLUS loan also has an origination fee associated with it as a term and condition of borrowing the loan. Interest begins to accrue when the loan funds are sent to the college and continue to accrue until the loan is paid in full.

Eligibility Requirements

• You must be working toward a financial aid eligible graduate degree
• You must be meeting Satisfactory Academic Progress (SAP) standards
• You must be enrolled for at least six credits by the add/drop deadline each semester
• You must have a valid, current year FAFSA on file
• You must apply for a Federal Direct Unsubsidized Stafford Loan before applying for a Grad PLUS Loan

If a graduate student is denied a PLUS loan, there are still options available to the student. The graduate student may choose to appeal the decision of the denial that documents an extenuating circumstance through Direct Lending. You should then contact Direct Lending at 1-800-557-7394 for additional instructions on how to proceed including how to complete the additional loan counseling requirement online. A graduate student may also choose the option of pursuing an endorser for the loan. You will also want to contact Direct Lending for additional instructions on how to proceed. If the endorser is approved, please contact your Financial Aid Office informing them of this outcome.