Offices & Directories

Federal Direct PLUS Grad Loans

The Grad PLUS Loan (GPLUS) is available to credit-worthy students enrolled at least half-time in a graduate or professional program (students enrolled in the School of Education credential program are ineligible). The loan program is not dependent on income and assets and allows students to borrow the difference between the cost of education and the financial assistance they are scheduled to receive.

It is recommended that students fully exhaust all of their lower interest Federal Direct Stafford Subsidized and Unsubsidized Loans before applying for any credit-based loans such as the GradPLUS Loan.

The Facts

The current interest rate on the Direct PLUS Loan is fixed at 7.21%. If you choose to apply for this loan, you must complete a credit check and sign the Federal Direct PLUS Loan Master Promissory Note (MPN).

Please keep in mind that the Federal PLUS Loan is subject to a 4.292% loan fee. Please plan to request your yearly PLUS Loan amount to include the 4.292% in fees. An easy way to account for these fees is to simply divide the amount you need by .95708. As an example, if you need $5,000 to cover costs you will need to request $5,224.22 (5,000 /.95708=5,224.22).   

Apply for a Grad PLUS Loan

Step 1: Complete your federally required Entrance Counseling for the GradPLUS Loan by logging into the student portal at and choosing "Complete Entrance Counseling."

Step 2: After completion of your entrance counseling, while still on the website, choose the option to "Complete Master Promissory Note" which will take you through the credit check process and subsequent signing of your Master Promissory Note (MPN).

Please Note: You will be required to use your U.S. Department of Education issued PIN to complete an electronic MPN. This is the same PIN that was used to complete the signature on the FAFSA. For additional information or to ask general PIN questions, you can visit the official PIN site.

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