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Graduate PLUS Loans

Federal Direct 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. (i.e. tuition, laptop fees, housing/personal expenses, books and supplies, etc.)

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 is fixed at 7.9%
  • 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.

Complete the FAFSA
To receive the Federal Direct Graduate PLUS loan, MSOE requires students to complete the Free Application for Federal Student Aid (FAFSA) and maximize federal student loan eligibility.  The FAFSA application can be completed online at www.fafsa.gov.

Federal Direct Graduate PLUS Loan Application Process

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  • To complete the PLUS Request Process and sign your Federal Direct Graduate PLUS Loan Master Promissory Note online:
    • Sign in to "Manage My Direct Loan"
    • Click "Start PLUS Application Process"
    • Click "Graduate PLUS"
    • Click "Complete MPN"

Note: In order to sign the Direct Graduate PLUS Loan Master Promissory Note for the Federal Direct Graduate PLUS Loan online, you must have received a PIN from the U.S. Department of Education.

Review your student loan history: National Student Loan Database System
As a student loan borrower, you will also be able to review your federal 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.