Direct PLUS Loan for Graduate/Professional Students
The Direct PLUS Loan for Graduate/Professional Students is a long-term, low-interest loan for Graduate and Professional Students, not their parents. This is a non-need based loan for those who do not have an adverse credit history. The interest rate is currently fixed at 7.9% and starts accruing immediately after the first disbursement. The student (borrower) is responsible for the interest that accrues while in school and during grace and deferment periods. Students may opt to pay the interest while in school or have the interest added to the outstanding principle. Repayment begins 60 days after the loan is fully disbursed, while the students is still enrolled. Borrowers may borrow up to the total cost of attendance minus other financial aid received.
Borrowers must apply for the maximum eligibility under the Direct Stafford Loan Program prior to applying for Direct PLUS Loan for Graduate/Professional Students.
For more information regarding the Direct PLUS Loan for Graduate/Professional Students click here