Graduate PLUS

Graduate PLUS Loans are loans for graduate and professional students who are ineligible for Unsubsidized Loans or need to supplement their Unsubsidized awards.

Graduate and professional students may borrow up to the student’s cost of attendance, minus other financial aid. Interest is charged during in-school, deferment, and grace periods. The borrower is responsible for the interest from the time the PLUS Loan is disbursed until it’s paid in full. You can choose to pay the interest or allow it to accrue (accumulate) and be capitalized (that is, added to the principal amount of your loan). Capitalizing the interest will increase the amount you have to repay.

Students should be aware that Graduate PLUS loans are subject to credit approval by the Department of Education.

Borrower Interest Rate
(for loans disbursed from
7/1/15 to 7/1/16)
Interest Rate
(for loans disbursed from
7/1/16 to 7/1/17)
Origination Fee
(for loans disbursed from
10/1/15 to 10/1/16)
Student 6.84% Fixed 6.31% Fixed 4.272%
Deferment You may receive a deferment if you are enrolled in school at least half-time and for an additional six months after you cease to be enrolled at least half-time.
Repayment Repayment begins six months after you cease to be enrolled at least half-time.

How Much Can I Borrow?

The maximum amount you can borrow each academic year is calculated by subtracting other financial aid from your cost of attendance. Direct loan eligibility and loan request amount must be greater than $324 for a PLUS or Grad PLUS loan to be processed.

Example

Alberta Gator is a first year graduate student. Her cost of attendance for Fall and Spring terms is $37,600 and her other financial aid (such as grants, scholarships and Unsubsidized Loans) totals $20,500.

Graduate Plus Example

Alberta would be able to borrow up to $17,100 in a Graduate PLUS Loan.

To Apply for a Graduate PLUS Loan:

  1. Complete a FAFSA (Free Application for Federal Student Aid).
  2. Submit an online Graduate PLUS Loan Request using StudentLoans.gov.
  3. Indicate your preference for Direct Loans using ONE.UF. Choose “Financial Aid” for the appropriate academic year, then view “Aid Status,” or go directly to your status page here.

To be Eligible You Must:

  1. be a U.S. citizen, national or permanent resident;
  2. be enrolled at least half-time;
  3. not have defaulted or owe a refund to any previous aid program;
  4. maintain satisfactory academic progress; and
  5. have no adverse credit history.

To Receive Your Graduate PLUS Loan:

  1. Complete a Master Promissory Note (MPN) for Graduate PLUS Loans using StudentLoans.gov. Select the link “Complete MPN” and then click on the Graduate PLUS option.
  2. Complete PLUS Counseling if required using StudentLoans.gov. PLUS Counseling is required if you initially do not pass a credit check but are approved because you obtain an endorser or you appeal your denial and submit supporting documentation. Note that PLUS loan counseling is separate from the PLUS Loan Entrance Counseling that all graduate and professional student PLUS Loan first time borrowers must complete.
  3. Complete Entrance Counseling for Graduate PLUS Loans using StudentLoans.gov.

For more information about financial aid disbursement, see “Receiving Aid.”