Federal Direct PLUS Loans

Overview: Federal Direct PLUS Loans

The Federal Direct PLUS Loan Program are for graduate students and the parents of dependent undergraduate students who meet the following criteria:

  • Enrolled in an eligible degree-seeking program
  • Enrolled at least half-time (6 credits for undergraduate students, 6 credits for professional students, 4 credits for graduate students)

The lender is the U.S. Department of Education rather than a bank or other financial institution. There are two types of federal Direct PLUS loans and your eligibility for both is determined using your financial aid application.

For loans disbursed on or after July 1, 2018 and before July 1, 2019 the fixed interest rate is 7.6%. For loans disbursed on or after July 1, 2019 and before July 1, 2020 the fixed interest rate is 7.08%.

  • For loans disbursed on or after October 1, 2018 and before October 1, 2019, the loan fee is 4.248%. The loan fee will be proportionately deducted from each loan disbursement. The loan fee for loans disbursed October 1, 2019 and before October 1, 2020 will be 4.236%.

Please click on the links below to view information for the Federal Direct PLUS Loans: