The federal Grad PLUS Loan program allows graduate students with good credit histories to borrow money to pay education expenses. Graduate students must be enrolled at least half time.

For the 2008-09 school year, some lenders are adjusting both the fees they will charge and benefits they offer to Grad PLUS Loan borrowers. When choosing a lender, students should inquire about fees charged at the time the loan is originated as well as benefits that may be offered to reduce costs during the repayment of a Grad PLUS Loan. Information about loan options can be found at individual lender websites. You may also want to consult the AES (American Education Services) website for additional information about lenders participating in the Keystone BEST option at http://www.aessuccess.org/

Qualified students can borrow the total cost of graduate education including tuition, room and board, fees and other related expenses less any other aid and student resources. Although Grad PLUS Loans are not need-based, interested graduate students must complete a Free Application for Federal Student Aid (FAFSA) to insure that other federal eligibility requirements, including citizenship and absence of other student loan defaults, are met. Graduate students interested in applying for a Grad PLUS Loan must first apply for the maximum loan for which they are eligible under the Stafford Student Loan program.

There is no deadline to apply for a Grad PLUS Loan. While every effort is made to expedite this process, we suggest that you apply for fall term loans by June 1. Applications for the spring term should be completed by October 1 and by February 1 for the summer term. No loan application can be processed by the Financial Aid Office after the last day of the term for which the loan is requested.

Applying for a PLUS Loan