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Financial Aid & Scholarships

Graduate Plus Loan

Please note that the reconciliation bill passed on July 4, 2025 has provisions which will change how the Graduate PLUS Loan can be used.  Please review the section below titled “Changes for 2026-2027” to learn more.

Who can borrow

Graduate students can borrow a federal Graduate PLUS Loan to help pay for their educational expenses as long as they:

  • Have already applied for their annual federal Direct Student Loans
  • Are matriculated in a master’s or PhD program; certificate programs are excluded
  • Are enrolled at least half time (at least six credit hours per term)

How it works

  • Credit approval is required to receive the Graduate PLUS loan
  • Students can borrow up to the cost of attendance minus any financial aid already awarded
  • The interest rate for the 2025-2026 academic year is 8.94% as of July 1, 2025
  • The interest rate for the 2024-2025 academic year is 9.083% as of July 1, 2024
  • There is an origination fee of 4.228%.

When to apply

Students should not apply any earlier than 90 days before the start of the term for which the loan is needed. Credit approvals are only viable for that amount of time. If the loan is applied for too early, the credit approval will become invalid and you will need to submit a new Graduate PLUS online application for processing. Please also factor in time for the Financial Aid Office to review your submitted FAFSA, which must occur before your Graduate PLUS application can be processed.

How to apply

  • Submit the Graduate PLUS application
  • Click the blue ‘Log In’ button to complete the PLUS Request Process
  • Students must have a federal PIN and must have already submitted a FAFSA to submit a Graduate PLUS application
  • If needed, please see the ‘Apply for PIN’ link under ‘Tools and Resources.’ on that site

What’s next

Once the application is submitted online, we will be notified electronically regarding the amount requested and whether the loan was approved or denied. Please note that the loan amount requested is assumed to be for the entire academic year. The PLUS loan will be set up evenly across all the terms in which you are enrolled at least half time during the academic year. The total of your PLUS loan and other financial aid cannot exceed the cost of attendance for each eligible term. If your needs change after the PLUS loan application is submitted, please contact your financial aid counselor and detail any required updates.

Additional PLUS Loan Information

Changes for 2026-2027

There are several changes that will be occurring for the 2026-2027 academic year in the Federal Graduate PLUS loan program based on the recent passing of  the One Big Beautiful Bill Act on July 4, 2025.  We’ll be sending out more information over the course of the current academic year as we learn more about the changes, but here is what we do know:

  • The Graduate PLUS loan program will cease to be a borrowing option on July 1, 2026, which will impact Fall 2026, Spring 2027, Summer 2027, and beyond*
  • The Direct Unsubsidized annual loan limits will be capped at $20,500 for graduate students and $50,000 for professional students.*
  • The Direct Unsubsidized aggregate limit is capped at $100,000 for graduate students and $200,000 for professional students, and does not include amounts borrowed as an undergraduate (Borrowers who are both graduate and professional students at some point in their educational careers may only borrow up to $200,000 in total for graduate and professional school)

*There is a legacy provision that if a borrower has a Graduate PLUS loan or a Direct Unsubsidized Loan made before July 1, 2026, while enrolled in a credentialed program, the borrower can continue to borrow from the program for 3 academic year or the remainder of their expected time to credential (graduate), whichever is less.