PLUS Loans

Professional degree students as well as graduates are now eligible to borrow money under the PLUS Loan Program. Money many be borrowed up to the cost of attendance minus other financial assistance in the Direct Loan Program and the FFEL.

There are certain terms and conditions which apply to Parent PLUS Loans and these same terms and conditions also apply to the Graduate/Professional PLUS loans. This includes that the applicant must not have poor credit history.

Students who qualify must begin repaying the money beginning on the date of the final disbursement on the line. The interest rate is fixed at 8.5 percent with the FFEL and at 7.9 percent with the Direct Loan. In order to become eligible for these loans, students must fill out the FAFSA.

Students must also apply for their annual loan maximum eligibility under the Federal Stafford Loan Program before applying for a graduate/professional PLUS loan.

If you are a student who is planning on working on a college degree, be sure to look into whether or not you are eligible for the PLUS loans.

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