Graduate Student Federal Loans
Direct Unsubsidized Loans are the main source of federal loans for graduate students.
If a student has borrowed the maximum Direct Unsubsidized Loan and still has educational costs left, then the Graduate PLUS Loan may be considered. Students who are not eligible for federal student loans may be eligible to borrow a Private Loan.
Helpful Tip: Consider a Monthly Payment Plan prior to borrowing a loan.
Direct Unsubsidized Loan
Direct Unsubsidized Loans are federal student loans that must be repaid. Direct Unsubsidized Loans are included in your financial aid offer for the maximum amount you are eligible to borrow. You may accept, reduce or decline your loan in Net Partner.
Eligibility
Direct Unsubsidized Loans are offered to students who complete the Free Application for Federal Student Aid and meet the eligibility requirements for federal student aid. The annual loan maximum is $20,500 or your cost of attendance, whichever is less.
Interest and Fees
The interest rate for Direct Unsubsidized Loans for Graduate Students disbursed between July 1, 2024 and June 30, 2025 is fixed at 8.08%, with a fee of 1.057% deducted from the loan amount at disbursement. Students are responsible for paying the interest that accumulates after the loan is disbursed. The interest can be paid while in school or the accrued interest will be capitalized (added to the principal balance). For more information, visit Federal Student Aid.
Repayment
Direct Unsubsidized Loan payments are deferred while the student is enrolled at least half-time, and there is a one-time 6 month grace period after the student graduates, withdraws, or drops below half-time before loan payments begin. The loan offers multiple repayment plan options.
Requirements for Borrowers
- Accept, reduce or decline your loan in Net Partner.
- First-time borrowers only: Complete both Entrance Counseling and Master Promissory Note (MPN) for Unsubsidized Loans.
Direct PLUS Loan for Graduate Students
The Direct PLUS Loan for Graduate Students (Grad PLUS) is a federal loan that must be repaid. The loan is a credit-based, fixed rate loan that enables graduate or professional students to borrow funds to meet their educational expenses. Students may apply with an endorser. The Direct PLUS Loan is only included in your financial aid offer after you have applied and been approved for the loan.
Eligibility
Students are required to complete the Free Application for Federal Student Aid (FAFSA), meet the eligibility requirements for federal student aid, and pass the credit check. If the student does not pass the credit check, two options are available: Endorse a PLUS Loan or
Appeal a Credit Decision. The maximum loan amount you may borrow is your cost of attendance minus any other financial assistance you receive.
Interest and Fees
The interest rate for Direct PLUS Loans disbursed between July 1, 2024 and June 30, 2025 is fixed at 9.08%, with a fee of 4.228% deducted from the loan amount at disbursement. Students are responsible for paying the interest that accumulates after the loan is disbursed. The interest can be paid while in school or the accrued interest will be capitalized (added to the principal balance). For more information, visit Federal Student Aid.
Repayment
Direct PLUS Loan payments are deferred while the student is enrolled at least half-time, and there is a six-month grace period after the student graduates, withdraws, or drops below half-time before loan payments begin. The loan offers multiple repayment plan options.
Requirements for Borrowers
- Apply for the Grad PLUS Loan.
- First-time borrowers only: Complete both Entrance Counseling and Master Promissory Note (MPN) for Direct PLUS Loans.
- Borrowers who applied with an endorser or appeal the credit decision only: Complete PLUS Credit Counseling.