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PLUS Loans for graduate or professional students |
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Plus Loans are now available since July 1st 2006 for graduate students. The maximum amount that can be borrowed is based on the cost of school fees minus any financial aid received from FFEL and Direct Loan programs. Example, if you receive $6,000 in FFEL and your attendance cost is $11,000 you could receive up to $5,000. The same terms and condition of the Parent Plus Loan are applicable for this Plus Loan. The interest rate is fixed at 8.5% for the FFEL and 7.9% for the Direct Loan program. In general parents need to pass a credit check. The FAFSA application can be filled out online or at your school’s financial aid office. If you are a graduate or professional student and wish to receive this Plus Loan, you also need to have applied for your maximum amount of Stafford loans. Complete details about the Plus Loan for Graduate and Professional Students. |
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