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 October 1st, 2016 and before October 1st, 2017, the loan fee will be 4.276%. The loan fee will be proportionately deducted from each loan disbursement.
Interest rate for the 2016-2017 academic year, as of July 1, 2016:
- PLUS loans have a 6.31% fixed interest rate.
- For loans disbursed on or after October 1st, 2015, the loan fee will be 4.272%. The loan fee will be proportionately deducted from each loan disbursement.
Please click on the links below to view information for the Federal Direct PLUS Loans: