Carroll University
Students chatting outside Lowry Hall
Prospective Students
Downloadable forms
Policies/procedures
Comparing Awards
Loan Information
Merit Scholarships
Outside Scholarships
Net Price Calculator
Income Graph
Helpful Links
FAQs
Contact Us
Business Office
Federal Direct PLUS Loan for Graduate Students
 

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 6.41% for loans between July 1, 2013 and June 30, 2014
Fixed rate of 7.9% for loans between July 1, 2006 and June 30, 2013

Fees -

• 4.204% is deducted from the loan proceeds for loans first disbursed after July 1, 2013 and before December 1, 2013. For example, on a $8,000 PLUS loan, $336 will be kept as a loan fee and therefore $7,664 will be credited to students account when it is disbursed to the school.

• 4.288% is deducted from the loan proceeds for loans first disbursed after December 1, 2013 and before October 1, 2014. For example, on a $8,000 PLUS loan, $343 will be kept as a loan fee and therefore $7,657 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.
 
 
 Copyright © 2014 Carroll University, Waukesha, Wisconsin. All rights reserved. Top of Page