Federal Direct Graduate PLUS Loans

General Information

Graduate and professional students can borrow a Grad PLUS loan up to the student's USF's estimated cost of attendance minus any other aid or resources received.

The U.S. Department of Education is the lender and graduate or professional students can apply for the Grad PLUS loan at https://studentaid.gov. Approval for a Grad PLUS loan is dependent on a credit check. Direct Grad PLUS loans have a fixed interest rate of 8.05% and are also assessed an origination fee of 4.228% of the principal of the loan.


  1. Convenient online application with instant results (https://studentaid.gov)
  2. Electronic signatures for Master Promissory Notes
  3. Flexible repayment plans
    • PLUS loans enter repayment once the loan is paid, however, if you are a graduate or professional borrower, your loan will be placed into deferment while you are enrolled at least half-time and for an additional six months after the student ceases to be enrolled at least half-time.


Students must:

  1. Not be in default on a federal student loan;
  2. Be maintaining Satisfactory Academic Progress for Financial Aid purposes; and,
  3. Be a US Citizen, or eligible non-citizen.
  4. Complete the Free Application for Federal Student Aid (FAFSA);
  5. Complete the verification review process, if required;
  6. Be enrolled at least half-time in an eligible program of study;

A credit check will be performed during the application process. If the graduate or professional student has adverse credit history, he/she may still receive a Direct Grad PLUS Loan by obtaining an endorser who does not have an adverse credit history and completing credit counseling.

When to apply/Deadlines

The optimum time frame to apply for a Grad PLUS loan would be no sooner than 30-45 days prior to the start of the academic term. PLUS loan credit checks are valid for 180 days, during this time a Master Promissory Note (MPN) must be activated.

Semester Graduate PLUS Application Deadline
Fall 2023 December 1, 2023
Spring 2024 April 26, 2024
Summer 2024 July 26, 2024


  1. USF receives the funds electronically.
  2. The funds will disburse through the USF student account.
  3. After tuition and any other current term charges on the account are paid, any remaining balance will be issued to you, the student, via eDeposit*, or a check will be mailed.

At USF, available financial aid is disbursed after the first week of classes each term. To cancel or reduce the loan amount, student borrowers must notify the Office of Financial Aid prior to disbursement.

*If you have not already done so, login to OASIS and sign up for eDeposit, it speeds up the process for receiving your funds.