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Federal Direct PLUS Loan for Graduate and Professional Students

Graduate/professional students must complete the Free Application for Federal Student Aid (FAFSA) and receive a determination of Federal Direct Loan eligibility by the Office of Financial Aid.

Applications for 2012/2013 available after May 1

The Federal Direct PLUS Loan provides a borrowing option for graduate/professional students. Based upon the borrower's creditworthiness, a graduate/professional student may borrow from this federally guaranteed, non need-based loan program. Additional terms, subject to revision by federal law, include:

Interest Rates and Fees Interest Rate: 7.9% (fixed) Origination Fees: 4.0%* *The Federal Direct PLUS Loan has a 4% origination fee, which will be deducted from the gross amount of the loan borrowed. Graduate/professional students are able to postpone repayment on the Federal Direct PLUS Loan while in school via in-school deferment, assuming at least half time enrollment. Repayment on the Federal Direct PLUS Loan begins the month following graduation or when the student drops to less than half time enrollment. Generally, the Federal Direct PLUS Loan has a 10-year repayment term. Students are encouraged to apply for the amount needed for a full academic year at the time of application, rather than by semester.  The amount of the loan is disbursed equally between the semesters and applied directly to the student’s University account.

Additional information of the Federal Direct Graduate PLUS Loan is available from the Department of Education.

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University of Notre Dame - Office of Student Financial Services
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