Saint Louis University

Graduate Plus Loan

The Federal Direct Graduate Plus loan is a federal loan program that allows students to help pay for tuition and other educational expenses not covered by the Federal Direct Unsubsidized loan and other financial aid.

Who is eligible?

In order to apply for this loan, borrowers must be Graduate/Professional students.  Students must be U.S. Citizens or eligible non-citizens. Students with a F1 or F2 student visa, J1 or J2 exchange visitor visa or a G series visa are NOT eligible for federal aid. Students must also be accepted and enrolled at least half-time at an eligible school, and be in good academic standing. A credit check will be performed by the Department of Education at the time of application to determine credit worthiness.

How much do I qualify for?

The Grad Plus loan can be borrowed up to the Cost of Attendance minus other aid.

How do I Apply?

To apply, file the Free Application for Federal Student Aid (FAFSA). A credit application and Federal Direct Graduate Plus Master Promissory Note (MPN) as well as Loan Entrance Counseling may be completed online. For additional information on the Federal Direct Graduate Plus Loan Program click here. To access the MPN and Loan Entrance Counseling visit

What is the interest rate?

On August 9, 2013, President Obama signed into law a reduction of the interest rates on Federal Student Loans. The Graduate Plus loan interest rate for graduate/professional students was reduced from 7.9% to 7.211% for loans processed on or after July 1, 2014.  Interest rates will be established each year for the Direct Graduate Plus for which the first disbursement is on or after July 1 through the following June 30. The rate will be the sum of a uniform "index rate" plus an "add-on" that varies depending on the type of loan and the borrower's level as a graduate/professional.

Are there fees associated with this loan?

Yes, for all Direct Graduate Plus loans disbursed before September 30, 2014 the loan fee is 4.288%. For all Direct Graduate Plus loans disbursed on or after October 1, 2014, there is a 4.292% loan fee. The loan fee will be proportionately deducted from each of the two loan disbursements by the lender. Here is an example of the current fee structure: for a loan amount of $20,000, each disbursed amount that the University receives on you behalf will be approximately $9,571.

What is a Post Enrollment Period?

Graduate Plus loans borrowed after July 1, 2008 are eligible for a 6 month post enrollment period from the day the student graduates or drops below half-time enrollment.

Are there deferment options? 

Graduate Plus loans are deferred while the student is in-school. There are additional deferment options available.

 What about repayment? 

Repayment begins within 60 days after final disbursement of the loan.  However, while enrolled, Graduate Plus loans are placed in an in-school deferment status and will maintain a post-enrollment status for six months after graduation or you cease to be enrolled at least half time.

To view an overview of this loan and the other types of available loans, click Loan Overview.

NOTE: Disbursement of funds may not be disbursed to the student prior to enrollment for the academic year.  Loans are disbursed in two installments, not to exceed 1/2 of the loan amount.

If your loan is denied due to adverse credit, you will have the option to obtain an endorser or appeal the credit decision. 

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