Federal Direct Graduate PLUS Loan

What is a Graduate PLUS Loan?

A Graduate PLUS Loan allows for a student seeking a Graduate Degree to help pay for their education through a fixed-rate federal loan. PLUS Loans can help cover educational expenses not covered by other financial aid resources. The loan is in the student's name; and in order to be approved, the borrower must not have adverse credit. The US Department of Education is the lender for the loan and the student is responsible to repay any amounts borrowed. In order to have a PLUS Loan awarded on the student's account, the student must have a FAFSA application on file and be enrolled in at least 6 credits per semester.

You should always weigh the options between a Federal Direct Graduate PLUS Loan (graduate, degree-seeking students only), Private/Alternative Parent Loans (any credit-worthy person who is not the student and wishes to gift the cost of education on their behalf), and a Private/Alternative Student Loan (student & credit-worthy co-signer).  To view a side-by-side comparison of the additional loan types, click the link below!