What is a Federal Direct Graduate PLUS loan?

The U.S. Department of Education makes Direct PLUS Loans to eligible graduate or professional students through schools participating in the Direct Loan Program.

A Direct PLUS Loan is commonly referred to as a Grad PLUS loan when made to a parent borrower.

To receive a Grad PLUS loan, you must:

• be a graduate or professional student enrolled at least half-time at an eligible school in a program leading to a graduate or professional degree or certificate;
• not have an adverse credit history (unless you meet certain additional requirements); and
• meet the general eligibility requirements for federal student aid

The maximum PLUS loan amount you can borrow is the cost of attendance (determined by the school) minus any other financial assistance you receive.

For students applying for a Graduate Plus loan, a MPN for Direct PLUS Loans should also be completed on studentaid.gov
What is the current interest rate?

For Direct PLUS Loans first disbursed on or after July 1, 2021, and before July 1, 2022, the interest rate is 6.28%. This is a fixed interest rate for the life of the loan. Federal interest rates and fees can be reviewed on the Federal Student Aid: Interest Rates and Fees for Federal Student Loans page.

What happens after I receive my loan?

After you receive your grad PLUS loan, you will be contacted by your loan servicer (you will repay your loan to the loan servicer). Your loan servicer will provide regular updates on the status of your grad PLUS loan.

For additional questions or assistance with the application process, please see the Federal Student Aid Information Center.