Graduate PLUS Loan
Finance your graduate degree with a Federal Graduate PLUS Loan from Student Loan Finance Association
The Graduate PLUS Loan is an affordable, accessible way to cover the entire cost of your graduate school education. You can get a Graduate PLUS Loan even if you have no credit history.
After submitting the Free Application for Federal Student Aid (FAFSA), available online at www.fafsa.ed.gov, and applying for the maximum amount available in Federal Stafford loans, consider the Graduate PLUS Loan. With the Graduate PLUS Loan, you can fund your entire cost of education (less financial aid). This includes:
- Tuition
- Supplies
- Room and board
- Living expenses
- Books
Apply now for a Graduate PLUS Loan.
Am I eligible for a Graduate PLUS Loan?
You must be:
- A U.S. citizen or national, U.S. permanent resident, or eligible non-citizen
- Attending school at least half-time
- Willing to undergo a credit check
How much can I borrow?
With Student Loan Finance Association's PLUS Loan, there are no annual or aggregate loan limits. You may borrow up to the cost of attendance less any other financial aid received, as certified by your school.
What are the rates and fees?
- Federal FFELP PLUS Loans first disbursed beginning July 1, 2006 carry a fixed interest rate of 8.5%. However, when you borrow from Student Loan Finance Association, you could receive an interest rate reduction.
- A 3% federal origination fee and a default fee of 1% of the loan amount are deducted from each loan disbursement. Some guarantors may waive all or a portion of the default fee (previously called "guarantee fee" or "insurance fee").
What are the benefits of Student Loan Finance Association's Graduate PLUS Loan?
Student Loan Finance Association's borrower benefits add up to savings for graduate students that continue throughout repayment.*
- 0.25 percentage point interest rate reduction for automatic debit payments
Download the Master Promissory Note for the Federal PLUS Loan.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS, INCLUDING BORROWER BENEFITS.
*Subject to the above, the auto-debit benefit is available on loans guaranteed 6/9/08–6/30/09. Assuming the loan is serviced by Sallie Mae, this benefit remains available during active repayment for as long as the borrower's monthly payment is successfully deducted from his/her bank account. If the loan is not serviced by Sallie Mae, other restrictions may apply as determined by the US Department of Education.