Federal Graduate PLUS Loans are unsubsidized loans made to graduate students.  The maximum PLUS Loan amount that a graduate student can borrow is the student’s cost of attendance minus other financial aid received. Interest rates for these loans vary each aid year, please contact the Office of Financial Aid and Scholarships to get the current year’s rate. Repayment of a PLUS loan for graduate students begins on the date of the last disbursement.  

 To apply for a Federal Direct Graduate PLUS Loan the following steps need to be taken:

  1. The student must be admitted as a degree-seeking student at MSUB
  2. The student must complete a Free Application for Federal Student Aid (FAFSA) and be eligible to receive Federal student aid.
  3. Must be enrolled in at least 5 graduate level credits per semester to be eligible.
  4. The student must accept the Graduate PLUS Loan via the MSUB Office of Financial Aid & Scholarships, either through their myInfo secure login or in writing.
  5. First time Direct Graduate PLUS Loan borrowers must complete:
  6. Loan Entrance Counseling.
    1. A Federal Direct Graduate PLUS Loan Master Promissory Note (MPN) must be on file with the Department of Education.
    2. To complete a Direct PLUS MPN, sign in to Studentaid.gov using your Federal FSAID, select "Complete MPN" and "Graduate PLUS." NOTE: If the student is using an endorser on their loan a new MPN is required each year.
  7. Complete Graduate PLUS Loan Application each year. This can be completed online by logging into Studentaid.gov using your FSAID and selecting the “Request PLUS Loan” link. 

More information about the Federal Direct Graduate PLUS Loan online.