|What is it?||A long-term, credit-based, federal loan with a fixed 7.9 percent interest rate in the student’s name.|
|Who can apply?||
A student enrolled in school at least half-time per term working toward a degree; must be making satisfactory academic progress and not be in default on an education loan. The student must be a U.S. citizen or an eligible non-citizen.
Students must pass a credit check but may apply with a qualified co-borrower. It is recommended that students should apply first for the Federal Direct Unsubsidized Loan.
|How much can I borrow?||
The annual limit is the Cost of Education minus all other financial aid, including loans. In most circumstances, students may apply once for the entire academic year. The loan will disburse equally each term.
A student needs to reapply each academic year online and through the Financial Aid Office.
|Is there a fee?||The Federal government charges Graduate Plus borrowers a 4 percent Origination Fee which is deducted before the loan proceeds pay into the student's account.|
|When do payments begin?||Repayment begins 60 days after the last installment of the loan pays into the school. A student may qualify for a deferment if he/she is enrolled at least half-time.|
|? How do I apply?||
For additional information, please visit Master's Program: Federal Loan Information, Guidelines, and Policy or Doctoral Program; Federal Loan Information, Guidelines, and Policy.