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GradPLUS Loans


The Federal Direct PLUS Loan for Graduate Students (GradPLUS) is a credit-based loan that graduate students may borrow to fund their education. Students must be enrolled at least half-time in a degree program. It is strongly recommended that students take full advantage of their Federal Direct Loan eligibility before applying for a GradPLUS loan.

Interest Rate and Fees

The federally-determined interest rate for the 2022-2023 GradPLUS loan is fixed at 7.54%. Federal GradPLUS loans are subject to a 4.228% loan origination fee, which will be deducted from your loan proceeds at the time of disbursement.


Repayment on the GradPLUS loan begins within 60 days of the final disbursement; however, currently enrolled students can qualify for an in-school deferment.

Maximum Loan Amount

The maximum amount a student can borrow in a GradPLUS loan is the total cost of attendance (comprised of tuition and fees, housing and food or living costs, books and a personal expense allowance) minus all other financial aid.

For assistance in determining the maximum amount you may borrow in your GradPLUS loan, contact the Office of Financial Aid. Alternatively, you may select the option for maximum within the PLUS application and the Office of Financial Aid will process it for your maximum allowable amount.


Students who are denied a GradPLUS loan may wish to add an endorser (co-signer) to the loan.

Application Tips

  • File your Free Application for Federal Student Aid (FAFSA) and borrow the maximum in Federal Direct Loans before applying for a GradPLUS.
  • Apply for the total amount needed for the entire academic year
    • 50% of loan will be disbursed in August and 50% in January
    • Repayment would begin after January disbursement, unless the option to defer while enrolled in school has been selected
  • Remember to account for the 4.228% loan fee in determining your loan amount.

Loan Counseling

All first time GradPLUS loan borrowers are required to complete the federally-required GradPLUS Entrance Counseling, before the funds will disburse to your student account.