Federal Direct Graduate PLUS Loan
Graduate level students can borrow to cover costs not already covered by their student’s financial aid awards up to the full average cost of attendance. Unlike the Stafford Loan, the Graduate PLUS Loan eligibility is based on the borrower’s credit worthiness.
Repayment |
Begins 6 months after student:
|
Interest Rate |
For loans disbursed after July 1, 2008, the interest rate is fixed at 7.9%. |
Interest Subsidy |
The borrower is responsible for interest that accrues from the date of disbursement. Interest can be capitalized. |
Fees |
Origination Fee: 4.0% The government pays 1.5% of your origination fee at disbursement. You are eligible to keep this benefit as long as you make the first twelve monthly payments of your student loan on time. |
Annual Loan Limit |
Up to the Cost of Attendance, minus other financial aid and resources. |
Graduate PLUS debt |
Retrieve loan information at NSLDS Student Access. |
Credit Worthiness |
The borrower cannot be 90 days or more delinquent on the repayment of any debt. Lender standards will vary and some may be more stringent than others. |
