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Direct Loan (DL) Grad PLUS

The DL Grad PLUS is a credit based unsubsidized loan for Graduate students. The loan is designed to assist with educational expenses up to the cost of attendance minus all other financial assistance.

When to Apply

  • The ideal time to apply for a DL Grad PLUS loan is after June 1 for the current academic year.
  • It is recommended that borrowers apply for the DL Grad PLUS for the full academic year.

Who can Apply

  • Those who are attending at least half-time and have borrowed their entire Stafford loan annual or aggregate amount and who still have remaining cost of attendance.
  • A student cannot have adverse credit history.
  • Students must be:
      1. U.S. citizens or eligible non-citizens.
      2. Must not be in default on any federal education loan or owe an overpayment on a federal education grant.
      3. Must seek a degree and meet other general eligibility requirements for Federal Student Aid programs.
  • A valid and complete Free Application for Federal Student Aid (FAFSA) must be submitted.

How to Apply

  • To complete the DL Grad PLUS Request Process visit www.studentloans.gov
  • You will be asked to "Sign In" using your FAFSA PIN.
  • Click on "Start PLUS Application Process"
  • You will authorize an immediate credit check.
  • If credit is approved and you are first time Grad PLUS borrower, you must complete the DL Grad PLUS MPN and DL Grad PLUS Entrance Counseling.
  • PLUS Counseling is available to all Direct PLUS applicants but is required only for applicants with adverse credit history that were initially denied and subsequently approved by documenting extenuating circumstances or obtaining an endorser.
  • *Please note: PLUS Counseling is different from Grad PLUS Counseling which is required for all Grad PLUS borrowers.

Interest and Fees

  • The interest rate for the DL Grad PLUS is fixed at 7.08%.
  • The DL Grad PLUS Loan has a 4.236% origination fee.

Credit Check

  • The DL Grad PLUS requires a student credit check that is only valid for 180 days.
  • Changes made to the loan after the 180 day mark may result in additional credit check(s)

Credit Check Denial Options

  • If the borrower is found to have adverse credit history, than the DL Grad PLUS is denied.
  • If denied, the student will be given the option to appeal credit or add an endorser. An endorser is someone who agrees to repay the DL Grad PLUS if you do not repay the loan. In some cases, you may be able to obtain the DL Grad PLUS if you document to the Department of Education that there are extenuating circumstances related to your adverse credit history.
    • *Endorser must have a Federal PIN Number to apply.

  • Applicants with adverse credit that qualify for the PLUS loan by documenting extenuating circumstances or by obtaining an endorser will be required to complete PLUS counseling. The PLUS counseling can be completed on the Department of Education website studentloans.gov.**
    • **The PLUS counseling is required in addition to Entrance counseling.
      **The PLUS counseling is only valid for the duration of time that the credit is valid. If an additional credit check(s) is run it could necessitate the completion of an additional PLUS counseling.

DL Grad PLUS Repayment

  • Repayment begins sixty (60) days after the last disbursement of the loan.
  • As a DL Grad PLUS borrower, you can defer repayment while you're enrolled in school at least half-time and (DL Grad PLUS loans first disbursed on or after July 1, 2008) for an additional 6 months after you graduate or drop below half-time enrollment.
  • You can defer repayment for DL Grad PLUS by contacting your loan servicer.
  • If you have multiple federal education loans, you can consolidate them into one single Direct Consolidation Loan.
  • You can pay by signing up for electronic debit account option.
  • Additional repayment information may be found by visiting Grad PLUS Repayment - studentaid.gov

For more information: Grad PLUS Information - studentaid.gov