Grad PLUS Loans (Direct PLUS for Graduate Students)
Federal Direct PLUS loans that graduate and professional students can use to cover costs beyond other aid.
Grad PLUS Loans are federal loans available to graduate and professional students who need to borrow additional funds to pay for education costs not covered by other financial aid. These loans are offered through the Department of Education's Direct Loan program and are designed for students pursuing advanced degrees. Borrowers should be aware that eligibility requirements, interest rates, fees, and borrowing limits are subject to change. For current and complete information about Grad PLUS Loans, including specific terms and conditions, students should visit studentaid.gov.
Who it's for
Graduate or professional students enrolled at least half-time in an eligible program. You must not have an adverse credit history (or you can still qualify with an endorser or by documenting extenuating circumstances).
How the interest rate is set
Direct PLUS Loans carry a fixed interest rate set by Congress each year for loans first disbursed on or after July 1, fixed for the life of the loan. PLUS rates are typically higher than other Direct Loan rates. Check studentaid.gov for the current rate.
How much you can borrow
There is no fixed annual dollar cap the way there is for Direct Subsidized/Unsubsidized Loans — you can borrow up to your cost of attendance minus any other financial aid you receive, as certified by your school.
Key terms at a glance
| Loan type | Federal (Direct PLUS Loan) |
| For | Graduate & professional students |
| Credit check | Required (adverse credit history can disqualify you) |
| Interest rate | Fixed; set by Congress each year (typically higher than other Direct Loans) |
| Borrowing limit | Up to cost of attendance minus other aid |
Pros and cons
Potential advantages
- Can cover the full cost of attendance (minus other aid) when other federal loans aren't enough.
- Fixed interest rate and access to federal repayment protections, including income-driven repayment (after consolidation, where required) and forgiveness programs.
- No cosigner required — though an endorser can help if you have adverse credit.
Things to watch
- Requires a credit check; an adverse credit history can disqualify you (unless you get an endorser or document extenuating circumstances).
- Interest rates and loan fees are generally higher than Direct Subsidized/Unsubsidized Loans.
- Interest accrues from disbursement; there is no subsidized version.
Sources: Federal Student Aid — PLUS Loans; CFPB — Student Loans. Federal loan details follow U.S. Federal Student Aid (studentaid.gov); always confirm current rates and limits there.
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Compare student loan & refinance options →Frequently asked questions
Who can get a Grad PLUS Loan?
Graduate and professional students enrolled at least half-time in an eligible program, who don't have an adverse credit history (or who qualify with an endorser or documented extenuating circumstances).
Should I use my Direct Unsubsidized Loan eligibility first?
Federal Student Aid generally recommends using your Direct Unsubsidized Loan eligibility before borrowing a Grad PLUS Loan, because PLUS loans typically have higher interest rates and loan fees.