Graduate PLUS Loans

The Federal Direct Graduate PLUS Loan program makes loans available to graduate students who have a previous college degree and are attending at least half-time. Loan funds received must be used to assist with paying educational costs such as tuition, laptop fees, housing and personal expenses, books and supplies.

Determine if the Federal Direct Graduate PLUS loan is right for you
The Federal Direct Graduate PLUS loan is a federal fixed rate loan for graduate students who have been approved, after a credit check is performed regardless of income or assets.

  • The interest rate for 2015-2016 was 6.84%. New federal regulations tie the interest rates to market interest rates. The interest rates on new loans are fixed for the life of the loan; however, every July 1, each year’s new loans will have different fixed rates based on the current market rates.
  • In addition to interest, you will also pay a loan origination fee that is a percentage of the principal amount of each Federal Direct Graduate PLUS Loan that you receive.
  • Graduate students may borrow up to the cost of education minus any other financial aid they have already received.
  • Direct Graduate PLUS Loans are scheduled to go into repayment six months after the student ceases at least half-time enrollment.
  • Interest will accrue during the time the student is in school; however, payments to interest and/or principal can be paid during that time without penalty.

To receive the Federal Direct PLUS Loan:

  • Complete the FAFSA


  • Determine Federal Direct PLUS Loan Eligibility Amount

    Eligibility for the PLUS loan is determined by your budget minus any financial aid. For questions regarding the amount of Graduate PLUS loan you may be eligible for, please contact the MSOE Financial Aid Office.

  • Complete Application process and sign promissory note

    Apply for loan

  • Review Your PLUS Loan History: National Student Loan Database System As a student loan borrower, you will also be able to review your PLUS loan history online at the National Student Loan Database System.  Here, you can access your payment information, find your lender’s/servicer’s contact information, and review your rights and responsibilities.

Please click here for more information about Federal Direct PLUS Loans

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