A parent borrower must apply for every Parent PLUS Loan they would like to borrow. Read our instructions for the Parent PLUS Loan Application Process.

Important Considerations Before Applying

The Federal Direct Grad PLUS Loan program is one of several credit-based educational loan options available for graduate students. It is recommended to compare the interest rates, credit check requirements, deferment options, terms, and repayment conditions of Grad PLUS Loans with those of private educational loans before making a decision.

The credit check for a Grad PLUS Loan is generally less strict than that of most private educational loans, which often evaluate the debt-to-income ratio. Additionally, Grad PLUS Loans can be consolidated with other Federal Direct Loans (subsidized/unsubsidized), allowing borrowers to make a single payment after graduation. Private educational loans, however, cannot be consolidated with federal loans. Grad PLUS Loans also typically offer lower interest rates compared to many private loan options.

Application Process

• File a FAFSA and ensure all eligibility requirements are met.
• Review your financial aid offer in Campus Connect. It is recommended to accept the full amount of your Direct Unsubsidized Loan before applying for a Grad PLUS Loan, as the interest rate on unsubsidized loans is lower.
• Complete the online Grad PLUS application in Campus Connect by clicking "Accept/Decline Awards" then click "Grad PLUS Online Application".
• Students may borrow up to the full cost of attendance, minus any other financial aid received.

Students who wish to borrow a Grad PLUS Loan for the summer term should read our knowledge article: How do students apply for a summer Grad PLUS Loan?

Federal regulations require that Direct PLUS Loans be disbursed in equal installments over the loan period. For instance, if a borrower requests a loan for the academic year—covering Autumn, Winter, and Spring terms—the total loan amount will be evenly distributed across these three terms. Borrowers (and their parents, if applicable) are encouraged to calculate the total amount needed for the entire academic year and request that amount accordingly.

When disbursed Federal Direct Parent PLUS Loan funds exceed a student's allowable charges (such as tuition and fees), a credit balance refund is created. Federal regulations require this refund to be sent to the parent-borrower, but parents can authorize the university to issue it directly to the student.  

Repayment begins once the final loan disbursement is made; however, borrowers have the option to defer payments on both interest and principal until six months after the student is no longer enrolled at least half-time. 

During deferment, borrowers can choose to pay the accruing interest monthly or quarterly. If the interest is not paid during this period, it will be capitalized quarterly. Making interest-only payments during deferment is a helpful way to manage the overall cost of the loan if it fits within your budget. Visit the Federal Student Aid website for more information on loan repayment options.