Graduate and professional degree students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS loans. These requirements include a determination that the applicant does not have an adverse credit history, repayment beginning on the date of the last disbursement of the loan, and a fixed interest rate of 7.9% in the Direct Loan program. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS loan.

Students must be enrolled at least half-time in a graduate or professional program at a school that participates in the Direct Loan Program, and must meet all of the other general eligibility requirements for the Federal Student Aid programs.

There are no set annual or aggregate limits. You may borrow up to your full cost of attendance, minus any other financial aid you receive.  Direct Plus Loan amounts do not count toward the $138,500 Direct Subsidized/Unsubsidized Stafford Loan maximum debt amount.

The first payment on a Direct PLUS Loan is due within 60 days after the loan is fully disbursed. There is no grace period for Direct PLUS Loans, but you can postpone payments on your Direct PLUS Loan while you are in school.  While you are enrolled in school on at least a half-time basis, you are eligible for an in-school deferment that allows you to postpone payments on your Direct PLUS Loan until you graduate or drop below half-time status. 

In most cases, the Direct Loan Servicing Center will automatically grant an in-school deferment on your Direct PLUS Loan based on information reported by your school to the U.S. Department of Education showing that you are enrolled at least half time. The Direct Loan Servicing Center will notify you of the deferment and of your option to cancel the deferment and begin making payments on your loan.

If your school does not report the enrollment information that is needed for the Direct Loan Servicing Center to automatically grant an in-school deferment on your Direct PLUS Loan, you will need to submit an In-School Deferment Request form to the Direct Loan Servicing Center. You may obtain an In-School Deferment Request form from your school’s financial aid office or by calling the Direct Loan Servicing Center. Your school must certify your enrollment status on the deferment request form.