General Information

View the Department of Education's Direct Loan Basics for Students brochure

• Federal loan program for graduate students
• Must be enrolled at least half time
• Approval based upon credit check
• Interest starts accruing at the time of disbursement
• No repayment required while enrolled at least half time
• Standard repayment is 10 years

Annual Maximum - Up to student's cost of attendance minus other financial aid

Interest Rate – fixed rate of 7.9%

Fees - 4.204% is deducted from the loan proceeds when disbursed. For example, on a $8,000 PLUS loan, $320 will be kept as a loan fee and therefore $7,680 will be credited to students account when it is disbursed to the school.

Applying for a Federal Direct Graduate PLUS Loan

1. Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov
2. First time borrowers at Carroll need to complete Graduate Entrance Counseling at https://studentloans.gov
3. Complete the Graduate PLUS Request Process at https://studentloans.gov. You will need to login to this site by clicking the green "Sign In" button located in the Manage My Direct Loan box in the upper left of the page. Next click 'Request PLUS Loan' then select 'Graduate PLUS' as the loan type.
4. If you are approved, the funds will be disbursed directly to the school and credited to your Business Office account.