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Financial Aid

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Graduate PLUS Loan

Graduate or professional students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS loans. The interest rate is a fixed rate and is set July 1st of each year.

How do I apply?

If you have not borrowed a Graduate PLUS Loan at UTSA before, you will need to complete PLUS Loan Entrance Counseling at StudentLoans.gov. Entrance Counseling must be completed before your Graduate PLUS Request Form can be processed.

Who can apply and what are the requirements?

Potentially eligible Grad PLUS borrowers are those who are enrolled at least half-time in a graduate or professional program.

Requirements:

  • Graduate students need to be classified as a Graduate student in order to be eligible to receive the Graduate PLUS Loan.
  • Graduate students need to be enrolled at least half-time (4hrs) per semester fall/spring & (3hrs) in the summer term in order to be eligible to receive the Graduate PLUS Loan.
  • Graduate students need to be making Satisfactory Academic Progress (SAP) in order to be eligible to receive the Graduate PLUS Loan.

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How does the Graduate PLUS Loan affect my financial aid?

  • Graduate student PLUS applicants must file a FAFSA.
  • Graduate students are not required to accept the Direct Stafford Loans that are offered, but are encouraged to consider all options before applying for the Graduate PLUS Loan.
  • Graduate students can generally borrow the difference between the university's cost of attendance minus their other financial assistance.

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What is the interest rate and origination fee for the Graduate PLUS Loan?

The interest rate on the Graduate PLUS Loan is fixed at 7.9%. Interest is charged from the date the first disbursement is made until the loan is fully repaid. Graduate PLUS Loans are subject to a 4% origination fee, however, there is a 1.5% interest rate rebate that helps reduce this fee.  Once repayment begins, you must make 12 on-time monthly payments to retain this benefit.

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What is the Graduate PLUS Loan repayment period?

The repayment period for a Graduate PLUS Loan begins on the date of the final disbursement of the loan and the first payment is due within 60 days after the date the loan is fully disbursed. Although repayment does not begin until after the final disbursement, interest does accrue while the student is enrolled.  Students must contact the Direct Loan Servicing Center at 1-800-848-0979 to request a deferment based on their enrollment status.

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