Direct Graduate/Professional PLUS
Direct Graduate/Professional PLUS Loan
The Direct Graduate PLUS Loan is designed to assist graduate students enrolled at least half-time in meeting their educational expenses. There are no income restrictions that affect eligibility for this loan. However, the borrower must pass a credit check. A completed Free Application for Federal Student Aid (FAFSA) must be on file before a Graduate PLUS loan can be awarded.You may borrow up to the full cost of your education for expenses including tuition and fees, room and board, books and supplies, transportation and living allowance, less any other financial aid you receive.
Eligibility: You must be a citizen or permanent resident of the United States and be enrolled or accepted for enrollment in a degree-seeking program at the University of Louisville. You must be enrolled at least half-time (4.5 hours during fall and spring, 3 hours during summer) to be eligible for a Graduate PLUS loan. In order to receive financial aid, including the Graduate PLUS loan, you must be making Satisfactory Academic Progress (SAP).
Repayment, Interest Rates and Fees: Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full. Repayment begins within 60 days after the final loan disbursement. However, a student may apply for an in-school deferment by contacting the Direct Loan Servicing Center at 800-848- 0979 while the student is attending at least half-time in a degree program. For more information regarding Direct Graduate/Professional PLUS loan, such as interest rates, repayment, and more please visit http://studentaid.ed.gov.
Steps for Applying for a Federal Direct Graduate PLUS Loan: