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:

  • Complete a FAFSA for the applicable academic year
  • 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, 2021 and before July 1, 2022 the fixed interest rate is 6.28%.

For loans disbursed on or after July 1, 2022 and before July 1, 2023 the fixed interest rate is 7.54%.

  • For loans disbursed on or after October 1, 2020 the loan fee is 4.228%. 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: