Federal Graduate Direct Plus Loans

A Graduate Direct Plus Loan is a credit based loan that graduate students may borrow to help pay for their educational expenses. The student must be enrolled for at least 6 credits per semester.

A graduate student may borrow up to the total estimated cost of attendance less resources and all other financial aid received by the student. The interest rate is fixed at 7.9 percent and accrues from the time the loan funds are sent to the university until it is paid in full.

It is highly recommended students consider and pursue a stafford loan before applying for a Grad Plus.
To apply for a Grad Direct Plus loan you must complete the FAFSA. Additionally, you must also be enrolled for at least 6 units per semester by the add/drop deadline. 

When you apply for a Grad Direct Plus Loan, you must also complete a Master Promissory Note (MPN) and a Federal Direct Grad Plus Loan Application before the loan funds will be disbursed.

Please visit Cost Calculator to determine the amount you wish to borrow or contact our office for assistance.

Credit Decision
The Department of Education will perform a credit check to determine the borrower’s eligibility. If approved, the borrower and UMBC will be notified and the loan will be processed by our office. The lender will contact the borrower with additional requirements if the Grad Direct Plus Loan cannot be approved based on the original application.

Repayment of Federal Grad Direct Plus Loans
Repayment begins 60 days after the final loan payment is sent to the institution. There are a number of circumstances where a borrower can defer payments of a Grad Direct Plus Loan.  Please contact Direct Loans for more information.