Federal Grad PLUS

January 23, 2018 | Graduate Management Admission Council

Federal Grad PLUS is another form of financial aid used by professional and graduate students.

Federal Grad Plus loans provide an alternative to private education loans for students who need additional funding. Features include:

Fixed interest rate of 5.41 percent through direct lending
Fixed interest rate of 6.41 percent through the Department of Education’s Direct Loan program
No grace period
Six-month deferment period following school
Deferment, forbearance, and multiple repayment options available
Requires completion of the FAFSA
Annual maximum is cost of attending (COA) less other aid, including Stafford Loans
No aggregate maximum
The borrower must be “credit ready”; if not, the borrower must secure an endorser
Interest is tax-deductible for most students