The Federal Direct Graduate PLUS Loan is a fixed interest loan that allows graduate students to borrow directly from the U.S. Department of Education to help pay for educational expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.

Some of the benefits of a Graduate PLUS Loan include:

• Fixed interest rate

• Can borrow amounts up to cost of attendance minus any other financial aid received

• Flexible repayment options

• Must be enrolled at least half-time
• Must be a U.S. citizen or eligible noncitizen
• Must not be in default on any federal education loans or owe an overpayment on a federal education grant
• Must not have an adverse credit history and if so, must obtain an endorser

There is no aggregate limit. You may borrow up to your cost of attendance minus any financial aid received.

Loans disbursed between July 1, 2022, and June 30, 2023, have a fixed interest rate of 7.54%.

Yes, there is a 4.228% loan origination fee on all Graduate PLUS Loans first disbursed on or after October 1, 2020, and before October 1, 2023. The fee will be proportionately deducted from each loan disbursement.

After completing the FAFSA, students can apply for a Graduate PLUS Loan at studentaid.gov under the section “Complete PLUS Request Process.” You will need to reapply for a new Graduate PLUS loan each subsequent academic year.

After you have applied for a Graduate PLUS loan and get approved, you must complete and sign a Direct Grad PLUS MPN and complete Entrance Counseling.

CCA will first apply the Graduate PLUS Loan funds to your school account to pay for tuition, fees, room and board, and other school charges. Any loan funds that remain will be disbursed to you in the form of a refund to help you pay for any additional education expenses. These funds will either be mailed to you in the form of a check or sent via direct deposit to the bank account you set up through Workday. We strongly encourage you to sign up for direct deposit to ensure timely delivery of your refund.

Your Graduate PLUS Loan will be placed into deferment while you are enrolled at least half-time and for an additional 6 months after you cease to be enrolled at least half-time. Please note, interest accrues on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due.

There are several repayment plans that are available. These plans are based on your needs and can be found at studentaid.gov.

Additional information regarding Graduate PLUS Loans can be found at studentaid.gov.

If you would like to increase your current Graduate PLUS loan, please submit a "Change of Loan Acceptance Decision" request through your Workday account. Our office will review your request and let you know if any additional steps are necessary to complete it.