Federal Direct PLUS Loans for Graduate Students | Financial Aid

This program is available to students enrolled at least half-time (three credits). Students must exhaust their Federal Direct Loan before they borrow a Graduate PLUS loan. Graduate PLUS borrowers may borrow up to the cost of attendance minus other financial aid. Graduate PLUS borrowers are subject to credit review; however, a Graduate PLUS applicant who has an adverse credit history may be able to obtain the loan with an endorser.

Loan details

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

Interest rate - Fixed rate of 7.08% for loans between July 1, 2019 and June 30, 2020. Fixed rate of 7.60% for loans between July 1, 2018 and June 30, 2019.

Fees:

Applying for a Federal Direct Graduate PLUS Loan

  1. Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov
  2. Complete the Graduate PLUS Request Process at studentaid.gov. You will need to login to this site by clicking the blue "Log In" button. Once logged in click the blue 'Start' button to complete your Graduate PLUS Loan application.
  3. First time borrowers at Carroll need to complete Graduate Entrance Counseling at studentaid.gov
  4. Complete the Grad PLUS MPN (Master Promissory Note) at studentaid.gov. You will need to login to this site by clicking the blue "Log In" button. Once logged in, click the blue "Start" button to complete the Grad PLUS Master Promissory Note.
  5. If you are approved, the funds will be disbursed directly to the school and credited to your Business Office account.
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