Graduate students should exhaust their federal Stafford loan eligibility before applying for a Graduate PLUS loan.

Eligibility

• You may be eligible for a Graduate PLUS loan if you are enrolled in school at least half time.
• A credit check is required.
• You must be a U.S. citizen or national, a U.S. permanent resident, or an eligible non-citizen.
• You must submit a FAFSA.

Features

• Flexible repayment options are available.
• No payments while you are in school at least half time.
• You can manage your account online 24/7 at Manage Your Loans.
• You get life-of-loan servicing from Sallie Mae.
• There is no prepayment penalty.
• We have an easy online application and approval process with an instant credit decision.
• Interest may be tax deductible.
• You can align repayment of your Graduate PLUS loans with your Stafford loans.
• Many Sallie Mae lenders offer borrower benefits on Graduate PLUS loans that can save you money throughout repayment.

Save even more with Upromise Loan Link^SM! Student and parent borrowers who join Upromise^® can link their Sallie Mae^® loan account to their Upromise account and use their Upromise rewards to help pay down their eligible Sallie Mae serviced student loans.

Upromise members can turn everyday spending into savings for education by shopping with participating companies who will contribute a portion of their qualified spending into their Upromise account. Once borrowers become Upromise members, they can invite family and friends to join and contribute their rewards to the borrower’s Upromise account to increase savings.

Loan terms

Loan limits

You may borrow up to the full cost of your education, less other aid received.

Interest rate

The Graduate PLUS interest rate is fixed at 8.5%.

Fees

There is a 3% origination fee charged by the federal government and a 1% federal default fee.

Legal

• You are responsible for all interest that accrues on the Graduate PLUS loan. Unpaid interest will be capitalized (added to the loan principal) and you will therefore pay interest on a higher amount.
• Repayment on PLUS loans begins within 60 days after the final disbursement of the loan. Graduate PLUS loans, for borrowers who are certified by their school to be attending at least half time, will be placed into in-school deferment. No payments are required during in-school deferment.