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Direct Grad PLUS Loan The Direct Grad PLUS Loan allows graduate and professional students to pay for additional educational expenses, not covered by financial aid. For more information regarding Direct student loans visit www.direct.ed.gov Eligibility When applying for a Federal Direct Grad PLUS Loan you must be the graduate or professional student enrolled in a qualified program. You should have submitted a Free Application for Federal Student Aid (FAFSA) and obtained any Stafford loans for which you qualified. In addition, you must be a U.S. citizen or permanent resident and pass a credit check. Interest Rate The Direct Grad PLUS loan has a fixed interest rate of 7.9% for all loans first disbursed on or after July 1st, 2011. Disbursements Once you have completed your application, your financial aid office will determine your scheduled disbursements for the academic year. Your check will be disbursed to your school, who will apply the funds to your tuition bill. Any remaining funds will be disbursed to you. |
