The Graduate/Professional PLUS program provides federally guaranteed, fixed interest rate loans to help graduate or professional students pay for educational expenses.

• A graduate level student
• A U.S. citizen or permanent resident
• Enrolled at a minimum of half time in a certificate or a degree program at an approved school
• Making satisfactory academic progress, as defined by your school
• Pre-qualified. Go to our Online Loan Pre-Application. If you qualify, we will notify you immediately.
• Your school must first determine your maximum annual loan eligibility under the Federal Stafford Loan Program (the FAFSA is required in order to receive the Federal Stafford Loan)
• Creditworthy or able to supply a creditworthy cosigner.  Cosigners can download and complete Cosigner Application.   
• In good standing on any other student loan or education grant
• Complete entrance counseling prior to the first disbursement

Current Maximum Loan Amounts

Repayment of the loan must begin within 60 days from the date the loan is made. The maximum repayment period is 10 years, with no penalty for early prepayment.  Payments may be postponed by either a deferment or forbearance if the dependent student is enrolled at least half-time.  The borrower will need to contact our office to make this request.

• Standard Repayment Plan
  This plan provides for substantially equal monthly payments during the life of the loan, not to exceed 10 years ($50 minimum per month).
• Graduated Repayment Plan
  This plan allows for an increase in your payments every 24 months, providing the greatest relief from the 'cash crunch' of starting your career.
• Income-Sensitive Repayment Plan
  Monthly payments are adjusted annually based on expected total monthly gross income from all sources.
• Extended Repayment Plan
  Available for outstanding Graduate PLUS loans exceeding $30,000 and first disbursed on or after October 7, 1998, this plan provides an extended repayment period, not to exceed 25 years ($50 minimum per month). You can choose a standard or graduated payment amount. 

Interest Rate

The interest rate for a Graduate PLUS loan is fixed at 8.5%.

Credit Requirements

The review of your credit history will look at the past five years for adverse information including, but not limited to:

• Bankruptcy
• Foreclosure proceedings
• Government claim on a defaulted loan
• Deed in-lieu of foreclosure
• Credit line closed-not paying as agreed
• Lease on contract terminated by default
• Government claim on secured real estate
• Collection account
• Foreclosure
• Voluntary surrender
• Repossession
• County/state/federal tax lien
• Charge-off
• Judgment
• Presently 90 days or greater delinquency on any outstanding debts

The Online Pre-Application Process

• We will obtain and review your credit history. 
• You will be notified of your approval or denial by the method of response you indicate on the online form.
• If you appear to be eligible, we will notify your school. We will also give you the opportunity to electronically submit the Application and Master Promissory Note, which must be completed prior to the disbursement of funds.
• Since the amount borrowed may not exceed the cost of education less other aid received, the Financial Aid Administrator at the school will determine whether you are eligible to receive the loan.
• This Pre-Application process does not guarantee eligibility for a loan.

More questions? Contact Us