Graduate PLUS Loan

The Graduate PLUS Loan is a federal loan that enables graduate and professional students with good credit histories to help meet educational expenses. The Graduate PLUS Loan can be borrowed up to the cost of attendance minus estimated financial assistance such as Stafford Loans. The interest rate is a fixed rate and is set July 1st of each year.

Eligibility Requirements
Interest Rate & Origination Fees
How Much Can be Borrowed?
Repayment
How to Apply

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Eligiblity Requirements for Graduate PLUS

• Must have a valid FAFSA on file
• Must be classified as a degree-seeking Graduate or Doctoral student
• Must be enrolled at least half-time in graduate or doctoral level hours (undergraduate hours do not count toward half-time enollment)
  • Fall/Spring half-time enrollment is 4 hours
  • Summer half-time enrollment is 3 hours
• Must be making Satisfactory Academic Progress

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Interest Rate & Origination Fees

Graduate PLUS Interest Rate and Origination Fees

Disbursement Date	Interest Rate	Origination Fee
On or after July 1, 2011 through June 30, 2012	7.9% fixed	2.5% is deducted proportionally from each loan disbursement
On or after July 1, 2012	7.9% fixed	4 % is deducted proportionally from each loan disbursement*

*The total origination fee is 4% however from July 1, 2011 through June 30, 2012, Direct Loans offered a 1.5% rebate on this origination fee. As of July 1, 2012, the 1.5% rebate will be discontinued.

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How Much Can be Borrowed?

You must have a valid FAFSA on file with UTSA to apply for a Graduate PLUS Loan. You can borrow a Graduate PLUS Loan up to the cost of attendance minus any other financial assistance you have been awarded. You are not required to accept Direct Stafford Loans that are offered, but are encouraged to consider all options and examine repayment and interest rate terms prior to borrowing a Graduate PLUS Loan.

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Repayment

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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How to Apply

Graduate PLUS loans are credit-based and you must be credit-approved in order to apply. Please visit our Graduate Plus Loan application steps for details.

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