Direct Graduate PLUS Loan

A graduate PLUS loan allows a graduate student to borrow any amount up to the student's cost of attendance minus all financial aid the student may receive for the enrollment period.

PLUS Loan for Graduates

What is the Processing Fee?

The processing fee is a fee the lender charges up-front for providing you the loan. The processing fee for a loan disbursed:

  1. Between October 1, 2020 and September 30, 2022 is 4.228%
  2. Between October 1, 2019 and September 30, 2020 is 4.236%

What is the Interest Rate?

The fixed interest rate is

  1. 7.54% for a loan disbursed between July 1, 2022 and June 30, 2023.
  2. 6.28% for a loan disbursed between July 1, 2021 and June 30, 2022.

*Interest begins accruing at the time of the first disbursement.

When do I have to Repay?

  1. Repayment begins within 60 days after the final disbursement for the loan period (Default Payment Plan).
  2. Repayment begins six months after the student ceases to be enrolled at least half-time. This must be selected on the application or a form completed for this to be an option.

What is required to receive a Graduate PLUS Loan?

  1. Complete the FAFSA.  
  2. Log into with your FSA ID.
  3. Select "Apply for a Grad PLUS Loan" in the Apply for Aid menu.
  4. Complete and submit the Direct Graduate/Professional PLUS Loan Application.
  5. Complete the Graduate PLUS Master Promissory Note (if the application is approved). * Under most circumstances, the MPN needs to be completed once every 10 years.
  6. Complete Graduate PLUS Entrance Counseling (if the application is approved) by clicking on the Complete Aid Process menu and selecting "Complete Entrance Counseling," click the Start button, and indicate you are a graduate or professional student.
  7. Once our office has received and awarded your approved loan, you can view the award on your Student Homepage in UAConnect.

Graduate PLUS Loan Information

  • A graduate PLUS loan application is specific to an aid year and a loan. If a semester application is completed, it is specific to listed semester and loan on the application.
  • Credit checks are valid for 180 days from the time the application is submitted for that specific loan. This is subject to change according to federal regulations. Thus, a good rule of thumb is to apply 75 days or less before the year begins. If the approval date is expired, the loan funds will not disburse.
  • The amount of graduate PLUS loan funds awarded is based on application approval, enrollment, remaining Cost of Attendance after other federal and institutional aid is applied, and SAP.

Questions? Ask Razorbot or Contact Your Counselor