The Federal Direct Grad PLUS Loan
Graduate and professional degree students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS loans. These requirements include a determination the applicant does not have an adverse credit history. Repayment of the loan begins on the date of the last disbursement of the loan. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS loan.
If you are offered the Grad PLUS loan as a part of your financial aid award package, all you have to do is accept your award and we will transmit your information to the Department of Education for credit approval. If approved, we will receive the approval acknowledgement electronically from the Department of Education within 24-48 business hours.
Graduate students also have the option of applying online, for credit approval only, through StudentLoans.gov. This may help you to plan ahead for other financial assistance, if you are denied based on adverse credit. For those students who are approved, your loan will be processed and transmitted to the Department of Education as described above; however, a second credit decision will not be completed if the initial one is within 90 days.
Entrance Loan Counseling
First-time Graduate PLUS borrowers are required to complete a Grad PLUS Entrance Counseling. Complete your Entrance Counseling—you will only need to complete this once.
Master Promissory Note (MPN)
First-time Grad PLUS borrowers are required to complete a Grad PLUS e-MPN. You will only need to complete this once, unless your loan is approved with an endorser. Endorsed loan borrowers must complete a new e-MPN for each new endorsed loan. Complete your MPN.