About the Federal Direct Graduate PLUS Loan
The Federal Direct Graduate PLUS Loan is a low interest rate, unsubsidized loan for graduate and professional students. The program allows a graduate student to borrow up to the cost of attendance, minus any other financial aid received.
You must be a Graduate or Professional student enrolled at least half-time in a degree granting program.
- File the Free Application for Federal Student Aid (FAFSA).
- Apply for your maximum loan eligibility in unsubsidized loans.
- Borrow as a graduate or professional student. Parents of graduate students will not be eligible to borrow the loan.
- Pass a basic credit check.
How to Apply
- Complete the Free Application for Financial Aid (FAFSA).
- Contact the USD Financial Aid Office to begin the process for the Graduate PLUS Loan.
- Complete the Graduate Plus Loan Master Promissory Note
- Complete the Entrance Counseling for Graduate Students requirement.
Annual Loan Limit
Borrower may borrow the difference between the total cost of the student's education minus any aid the student will receive.
- Repayment begins within 60 days after the final disbursement of each loan.
- The maximum repayment period is 10 years, and the minimum monthly payment is $50.00.
- You may be eligible to defer payments while you are enrolled at least half-time, unemployed, experiencing economic hardship or otherwise unable to make any scheduled payment.
The Federal Direct Graduate PLUS Loan interest rate is fixed at 5.30% as of July 1, 2020.
Effective October 1, 2020, a loan fee of 4.228% of the principal amount of each loan a student receives will apply. The fees are deducted from your loan prior to disbursement.