Answered By: Tiffany Beverly Last Updated: Jan 23, 2017 Views: 309
Federal Direct Graduate PLUS (GradPLUS) loans are available to graduate students enrolled at least half time who do not have an adverse credit history. Students may borrow up to the cost of attendance minus any other aid. The total education cost may include tuition, living allowance, books and supplies, and transportation. The interest rate is 7.9% for GradPLUS Loans. GradPLUS Loans carry a fee of up to 4% that may be deducted from the loan disbursement. Students can defer payments while in school and there is no early payment penalty. Interest accrues while the student is in school and may be paid or added to the principal at repayment. You can apply for this loan at www.studentloans.gov. Please remember to complete a GradPLUS MPN as well, if approved.
For more information on this topic, please contact The Office of Financial Aid at firstname.lastname@example.org