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 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.

Interest rate for the 2015-2016 academic year, as of July 1, 2015:

  • PLUS loans have a 6.84% 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: