With a Graduate PLUS loan, you may borrow up to the full cost of your education, less other financial aid received including Federal Stafford loans.

You can use a Grad PLUS loan for study overseas or in the U.S.

Graduate students are strongly encouraged to apply for both subsidized and unsubsidized Federal Stafford loans before applying for a Graduate PLUS.

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 www.ManageYourLoans.com.
• 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.

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.

Repayment

• Standard repayment: You make both principal and interest payments each month up to a 10-year repayment term. This plan has the lowest total interest cost.
• Graduated repayment: You make reduced payments in the early years of repayment and increased payments thereafter, while still paying off the loans within the maximum 10-year period. With graduated repayment, you have a higher total loan cost than with standard repayment.
• Income-sensitive repayment: Payments are a percentage of your gross income. You must reapply every year for this plan and payments are adjusted annually to reflect changes in income. With income-sensitive repayment, you have a higher total loan cost than with standard repayment.
• Extended repayment: If you have a high amount of student loan debt, you may be eligible for up to a 25-year repayment term and the choice of standard or graduated payments to keep payments affordable. With extended repayment, you have a higher total loan cost than with standard repayment. 

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.

 *Benefits are available on loans first disbursed February 1, 2008–June 30, 2009 to students attending not-for-profit public and private graduate and professional schools and serviced by Sallie Mae throughout repayment. Terms and conditions apply. The 1% federal default fee will be paid on the student's behalf on Graduate PLUS loans guaranteed by USA Funds or NELA February 1, 2008–June 30, 2009. A 0.70 percentage point interest rate reduction for paying by automatic debit is available during active repayment for as long as the borrower's monthly payment is successfully deducted from his/her bank account. To qualify for the 1% loan credit, a borrower must sign up for Sallie Mae's Manage Your Loans, before the first payment due date, to receive account information by email and make the first 12 payments by the due dates as initially scheduled.