PLUS Loans for Graduate Students

Basic Information
How to Apply

Basic Information

Federal Graduate PLUS Loans are available to graduate students with a good credit history to help pay for educational expenses. A Federal Graduate PLUS Loan is a low-cost, low-interest-rate loan and the interest you pay on these loans may be tax deductible. Your eligibility for a Graduate PLUS Loan is not based on financial need or family income and assets.

You can use a Graduate PLUS Loan as a supplement to a Federal Direct Loan or as the sole loan to cover the cost of your education. There is no minimum or maximum loan amount; you can borrow as little or as much as you need (up to the cost of attendance minus financial aid).


  • You must be a full standing, degree bound graduate student attending at least half-time. (5 credit hours for graduates and 3 hours for the summer term)

  • U.S. citizen or national or eligible resident non-citizen.

    • A Graduate PLUS Loan may be deferred as long as the student is enrolled at least half-time.
    • Graduate PLUS Loan repayment begins within 60 days after final disbursement of the loan.
    • The minimum monthly payment is $50 and the repayment term is up to 10 years.
    • You can pre-pay the loan in whole or part without penalty.
  • You must have no unresolved defaults or overpayments owed on a Title IV educational loan or grant.
  • You must not have an adverse credit history. You can have an eligible co-signer on your loan, if needed.
  • You must complete a Graduate PLUS Borrower's Entrance Counseling PRIOR to the disbursement of your loan by the school.

Interest Rates and Fees

  • There are no application fees.
  • Loan fees may consist of an origination fee up to *4.264%.
  • The fixed interest rate Graduate PLUS loans disbursed on or after July 1st, 2018 is *7.6%.

**New loan disbursed on or after October 1, 2018, will have a loan origination fee of 4.248%.**

**Due to the Sequestration of Federal Student Aid Programs, interest rate and origination fees may be subject to change.**


How Much Can I Borrow?

A common question for graduate students who wish to pursue a Federal Direct Graduate PLUS loan is, "how much can I borrow?" To answer this question, a brief description of how we determine eligibility will help.

Students who have been awarded financial aid also have a budget (Cost of Attendance-COA) as part of their award package. The student's COA represents a ceiling or cap in the total amount of financial aid our office can provide. Graduate students may borrow PLUS loan funds up to their full COA minus all other financial aid and resources.

See Example Below:
Cost of Attendance: This figure is for illustration purposes only $25,000
Total Financial Aid: Offered aid including loans, fellowships, work-study, etc -$20,500
Other Resources: Such as tuition/fees waivers, outside scholarships, etc -$1,000
Remaining Grad Plus eligibility: $3,500

We encourage all Graduate Federal Direct PLUS loan borrowers to review costs and to borrow only that amount that will help ensure your success. If you have any questions about the Graduate PLUS loan or other financial aid matters, please call us at (316) 978-3430 or email

Options if a Graduate PLUS loan is Denied

If your PLUS loan is denied due to the result of your credit review, you will receive notification from the Direct Loan Servicing. You may choose from the following options:

  • You may try to have a credit status override completed by the Direct Loan Servicing Center. Please contact the Direct Loan Servicing Center at 1-800-557-7394.
  • You may provide documentation to the Direct Loan Servicing Center if you have extenuating circumstances. Your request for a PLUS loan will be reviewed again by the servicer
  • You may have a third party endorser cosign the PLUS loan application with you. The Direct Loan Servicing Center will send you a packet of information for this option. If additional information is needed, please contact the Direct Loan Servicing Center at 1-800-557-7394.

How to Apply

1. File a FAFSA online at Once your file is complete, the Office of Financial Aid will send you a financial aid award notice.

2. Accept any Federal Stafford Loans that are offered to you. To accept your student loans, login to myWSU and select the Financial Aid Tab, then Financial Aid Awards link.

The amount awarded is based on initial computations and our knowledge of additional resources available to you. If any changes or corrections are made to the information used in determining your financial need, the loan amount is subject to change and/or cancellation. You must report all scholarships and outside aid to our office. Adjustments will be made based upon notification of additional resources not listed on your award letter.

3.Complete a Federal Direct Graduate PLUS Loan Application online at You will need your FAFSA Pin number in order to log into the website.

4. If the Federal Direct Graduate PLUS loan is approved,you will need to complete a Master Promissory Note and the Graduate PLUS entrance counseling while on