Direct Graduate PLUS Loan

The Direct Graduate PLUS Loan is a non-need-based loan with the U.S. Department of Education serving as the lender.

Effective for the 2026-27 academic year, the Graduate PLUS Loan program will be discontinued for new borrowers as part of federal student loan reforms. A legacy provision allows graduate students who borrowed Graduate PLUS loans prior to July 1, 2026, to continue borrowing the Graduate PLUS loan for up to three years while pursuing the same academic program, or until the student graduates, whichever comes first. This legacy provision expires at the end of the 2028-29 academic year.

The loan is unsubsidized and the borrower is responsible for the interest from the disbursement date. Payments begin when the loan is fully disbursed, but may be deferred while the student is in school at least half-time.

Interest Rates and 

• The interest rate for loans first disbursed after July 1, 2025 is fixed at 8.94%.
• The interest rate for loans first disbursed after July 1, 2026 is TBD.

Origination Fees

• The origination fee for loans first disbursed after October 1, 2023 is 4.228%.
• The origination fee for loans first disbursed after October 1, 2024 is TBD.

Interest rates and origination fees are subject to change. Use our Loan Fee Calculator to help determine your origination fees when figuring loan amounts. 

Application Procedures

To be considered for a Direct Graduate PLUS Loan, students must:

• File a FAFSA;
• Complete remaining steps in the Apply for Loans process.

Selection Criteria

To qualify for a Direct Graduate PLUS Loan, students must:

• Meet all eligibility requirements to receive Title IV aid;
• Be a graduate student enrolled at least half time (5 credits); and
• Meet the credit requirements.

Award Amounts