Graduate PLUS Loan
The Grad PLUS Loan is for Graduate Students only. You are required to complete a FAFSA and apply for the maximum amounts available under the Subsidized and Unsubsidized programs first. The Grad PLUS loan requires credit approval the Department of Education. There is a fixed interest rate which for 2012-13 is 7.9%. A 4.204% origination fee is automatically deducted from the loan amount prior to disbursement. Grad PLUS loans do not have a grace period.
Repayment begins 60 days after the loan has been fully disbursed for the academic year; however, you can postpone repayment while you are enrolled at least half-time. For more information regarding postponing your payments, contact the Direct Loan Servicing Center at 1.800.848.0979.