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 7.9%.
- 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 3 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.