Federal Graduate PLUS Loans
Quick link:
FAFSA application form for Federal Graduate PLUS Loans.
Graduate Plus loans are federally sponsored loans for students attending graduate school. A Graduate Plus loan allows you to borrow up to the full cost of your education, minus other financial aid received including Federal Stafford loans.
More....Loan terms
Loan limits
You may borrow up to the full cost of your education, less other aid received.
Interest rate
The Graduate PLUS interest rate is fixed at 8.5%.
Graduate PLUS Loan Fees
There is a 3% origination fee charged by the federal government. The 1% federal default fee will be paid on the borrowers behalf on Sallie Mae Medical School Loans Graduate PLUS Loan guaranteed by USAF or NELA February 1, 2008–June 30, 2009.
Legal implications of a Graduate Plus Loan
- The borrower is responsible for all interest accrued on the Graduate PLUS loan.
- Unpaid interest will be added to the loan principal which will increase your interest rate.
- Repayment on PLUS loans begins within 60 days after the final disbursement of the loan.
- Graduate PLUS loans for borrowers who are attending school at least half time will be placed into in-school deferment. No payments are required during in-school deferment.
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