Graduate Plus Loan

  • A low-interest loan arranged by the Federal Government.
  • Interest will accrue on this loan while you are in school. The interest will be capitalized when you are no longer a fulltime student or you have graduated.
  • This is not a need-based program, although you cannot borrow more than the difference between the cost of attendance and all forms of financial aid, including any Federal Direct Loans (both subsidized and unsubsidized).
  • Depending upon your need, you may borrow up to the cost of your education. 

Terms and Conditions

  • Interest Rate is 6.41%.
  • You will be responsible for all interest accrued on this loan from the date of disbursement. 
  • Repayment will begin immediately, within 60 days of the loans disbursement; however, you are able to defer payment on the loan if you apply for an in-school deferment. 
  • A Federal loan origination fee of 4.288 percent and a guaranty default reduction fee of up to 1 percent will be deducted from the amount requested.
  • You must attend entrance and exit interviews and complete the necessary forms, including promissory note, before the loan will be disbursed.