"Federal Grad PLUS Loan"
U.S. Department of Education

What is Federal Grad PLUS Loan ?

Grad PLUS Loans are federal loans that graduate and professional students with good credit history may borrow to help pay educational expenses.

How Does the Grad PLUS Loan Work ?

Grad PLUS loan can be used to replace the Expected Family Contribution up to the cost of attendance to help meet additional expenses that you cannot cover with Federal Direct Loan.

Who is Eligible for Grad PLUS Loan ?

Be a professional or graduate student enrolled at least half-time at an eligible school in a program leading to a graduate or professional certificate or degree.


Grad PLUS Loan Interest Rate

The fixed interest rate is 7.54% for Grad PLUS Loans that are disbursed for the first time on or after July 1, 2022, but before July 1, 2023.

Grad PLUS Loan Borrowing Limits

The maximum Grad PLUS Loan amount you can borrow is the cost of attendance at the school your child will attend minus any other financial assistance your child receives.

Grad PLUS Loan Credit Check

You can’t be 90 days on the repayment of any debt or the subject of a default determination, bankruptcy discharge, foreclosure, repossession or tax lien during the last 5 years.

Grad PLUS Loan Repayment

Repayment begins within 60 days of the final loan disbursement during the academic year. Principal and interest payments may be deferred if you meet deferment requirements.

How to Apply for Grad PLUS Loan ?


Students must complete the Free Application for Federal Student Aid (FAFSA) in order to apply for a Grad PLUS Loan.