About PLUS Loans

Loan for graduate/professional students funded and administered by a lender in the Federal Family Education Loan Program (FFELP)

Must be a U.S. citizen or permanent resident and a graduate/professional student attending school at least half-time. The student must apply for and the school must determine the student's eligibility for the maximum annual subsidized and/or unsubsidized Federal Stafford Loan amount. However, the student need not borrow any amount in the Stafford Loan program in order to qualify for a PLUS loan.

Up to the cost of education minus estimated financial aid

For new Grad PLUS loans disbursed on or after July 1, 2006, the interest rate is 8.50% fixed.

Generally up to 10 years. With an extended payment plan, it's possible for qualifying borrowers to take up to 25 years to repay.

Though many schools offer this new loan option for graduate/professional students, some schools do not. If you are unsure if your school offers PLUS loans for graduate/professional students, you can call us toll-free at 1.877.804.3603. To apply for a PLUS loan, you must be pre-approved, provide personal information, and identify the school you will attend. The online pre-approval and application process varies depending on the school.

If your school offers online pre-approval and PLUS applications, please be prepared to provide the following information:

• Current address
• Driver's license state and number
• Reference names and addresses

If your school does not participate in online pre-approvals or PLUS applications, you can call us toll-free at 1.877.804.3603 and go through the pre-approval process over the phone.

Once pre-approved, you will need to fill out a PLUS loan application online or over the phone toll-free at 1.877.804.3603.