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How to apply

1. Request loan amount

To apply for a Graduate PLUS Loan, complete the . You, as the student, will need to log in with your FSA ID username and password. You will need to fill out the Loan Amount Requested and Loan Period. Please be prepared to enter the amount of the loan you desire to borrow. If you select either the Maximum or Unknown Amount options, we will contact you to confirm in writing with us the amount you intend to borrow. This may substantially delay the processing of the loan. The Loan Period is the Start and End dates of the academic period for which the loan is intended.

2. Complete a Master Promissory Note (MPN)

First time Â鶹ÊÓƵAPK Federal Direct Graduate PLUS borrowers and borrowers that require an endorser must complete a . Please pay attention to the different loan MPNs. For questions about Federal Direct Graduate PLUS MPN or approval status, contact the Loan Origination Center at 800-557-7394. You will need your FSA ID to sign in and complete the MPN.

3. Entrance counseling

First time Federal Direct Graduate PLUS Loan borrowers must complete the . (This is not required if you completed the Stafford Loan Entrance Counseling during Step 1 when applying for the Federal Direct Stafford Loan, and selected that you are a Graduate student as this is a combined Stafford/Grad PLUS Entrance Counseling session.) The average Â鶹ÊÓƵAPK Graduate student Stafford and Graduate PLUS loan debt is $31,518. You may use the to determine your estimated loan payments.

4. OPTIONAL: Annual Student Loan Acknowledgement

The is for student and parent borrowers who are accepting Federal Subsidized/Unsubsidized Loans, PLUS Loans for Parents, or PLUS Loans for Graduate/Professional Students. It will take around 10 minutes to complete the Acknowledgement. It is a good idea for all students to complete. Within the Annual Student Loan Acknowledgement, borrowers are able to view how much they currently owe in loans, their progress towards aggregate loan and grant limits (if applicable), and have access to content surrounding smart borrowing, interest rates, and payments.

• In order to fill out the Acknowledgement, you will need your Verified FSA ID.
• If this is your first time accepting a federal student loan, you are acknowledging that you understand your responsibility to repay your loan. You will also need to know the School Name, the Degree Name, and the Field of Academic Program.
• If you already have existing federal student loans, you are acknowledging that you understand how much you owe and how much more you can borrow.

Please note that a credit check is required to obtain a Federal Direct Graduate PLUS Loan.

For Direct PLUS Loans first disbursed on or after July 1, 2024, and before July 1, 2025, the interest rate is 9.08%. This is a fixed interest rate for the life of the loan.

Additionally, there is a loan fee on all Direct PLUS Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. The percentage for all Direct PLUS loans first disbursed on or after Oct. 1, 2020, is 4.228%. Loans first disbursed before that date had different loan fees.

Repayment begins within 60 days after the full amount borrowed for a school year has been disbursed, though you may request that repayment be deferred while you are in school at least half-time.

Federal Direct Graduate PLUS loan borrowers have up to ten years to repay their Federal Direct Graduate PLUS Loan(s). The minimum monthly payment for a Federal Direct Graduate PLUS Loan on a standard repayment plan is $50 per month. With recent passing of legislation, interest paid on Federal Direct Graduate PLUS Loans may be tax deductible. Consult with your tax advisor for more details. Information regarding repayment may be found online on  and all repayment questions should be directed to your loan servicer. A letter identifying the loan servicer is mailed from Direct Loans upon the first disbursement. Loan servicer information is also available within seven to 10 days from the first disbursement on studentaid.gov using the student borrower’s information and FSA ID and Password.

Federal Direct Graduate PLUS Loan are eligible for Federal Loan Consolidation.

Federal Direct Graduate PLUS Loan are canceled in the event of your death or permanent and total disability.

If your credit is denied, you will receive notification from the direct loan servicer. You can:

• Seek a credit status override. Contact the Direct Loan Origination Center at 800-557-7394 and Equifax (their credit bureau) at 800-685-5000.
• Request a review. If you have extenuating circumstances, provide documentation to the Direct Loan Origination Center.
• Have a third-party endorser co-sign the Federal Direct Graduate PLUS loan application. Contact the Direct Loan Origination Center at 800-557-7394.
• Choose not to pursue the denied Federal Direct Graduate PLUS loan. Contact the Office of Financial Aid at 651-523-3000 to discuss alternative options.

Some borrowers may need to complete online PLUS counseling. This is different than Entrance Counseling and, if required, must be completed in order for the loan to disburse. Direct Loans will notify you if you are required to complete the counseling.

is the US Department of Education's central database for student aid. This site can help you keep track of all the federal financial aid you have received in your lifetime.

The  can quickly help you figure out what your monthly payments will look like. Keep in mind that federal loans default to a 10-year repayment plan. You can use StudentAid.gov to help you find your loan totals and interest rates.