Grad Plus Loan

GradPLUS loans are available to graduate students.  This is a federally guaranteed unsubsidized loans.  The loan is offered at a fixed rate of 8.5%.  There is a credit check but no cosigner is required.

The student must file a FAFSA, be enrolled at least half-time and be making satisfactory academic progress (SAP) to be eligible.

The student will go into repayment 45 days after the loan fully disburses.  However, the student may request an in-school forebearance.

While a student does not have to accept all other financial aid programs offered (federal subsidized and unsubsidized loans), it is recommended that the student do so as federal student loans have more favorable terms.

Benefits to choosing GradPLUS

• Low, tax deductible interest rate
• Take a minimum of 10 days to repay
• No cosigner required
• Loan forgiven if student dies or becomes totally disabled
• Maybe be conolidated with other federal student loans

last updated 11/07