Activate Federal Graduate PLUS Loan

About the Graduate PLUS Loan

The Deficit Reduction Act of 2005 has modified the PLUS program (formerly a federal loan for parents) to allow graduate students to borrow under this federal program as well.

Eligibility

To be eligible for the Direct Graduate PLUS Loan, you must:

• Be a graduate student enrolled in an eligible program. 
• Be a U.S. citizen or eligible non-citizen (permanent resident).
• Submit a Free Application for Federal Student Aid (FAFSA). 
• Be enrolled at least half time per semester (5 graduate credits).
• Consent to, and pass a credit check by the U.S. Department of Education.

*For the 2024/25 academic year, graduate students will no longer be offered the PLUS Loan upfront. You must go to studentaid.gov to complete the application and the Master Promissory Note (MPN).

Before you apply

Determine the loan period for which you plan to apply. If you are planning to be enrolled for both fall and spring semesters, we recommend you apply for the fall/spring loan term. The summer loan term cannot be combined with other terms.

If you choose a fall/spring loan period, the amount of the loan will be split equally between the two semesters; so the disbursement of a $10,000 fall/spring loan would be $5,000 for the fall semester and $5,000 for the spring semester.

Interest rate and origination fees

• The current interest rate for PLUS loans first disbursed on or after July 1, 2023 is fixed at 8.05%. 
• The loan origination fee for PLUS loans disbursed on or after Oct. 1, 2020 is 4.228%.
• The Department of Education sets interest rates and fees annually. 
• Complete information on interest rates and fees are available on the studentaid.gov website.

Apply

Graduate students will apply for the Direct Graduate PLUS Loan on studentaid.gov. Like the FAFSA, Direct PLUS Loans must be requested each academic year.

Credit check

You will be notified at the time that you submit your application if your credit has been approved or denied. Your debt-to-income ratio, credit score, and employment status are not taken into consideration; however, adverse credit typically results in a PLUS loan denial.

For more information about adverse credit, visit studentaid.gov.

Application approved

If your application has been approved, CMU will receive notification of the approval in 2-3 business days. The financial aid portal will be updated to reflect the approved PLUS loan.

Processing for the upcoming academic year will begin in July. Spring-only in October, and Summer in April.

The application will NOT process if:

• You are not enrolled in a degree-seeking graduate program. 
• Do not have a FAFSA on file for CMU. 
• You have not been awarded your federal aid eligibility (either we have not started awarding or you are not eligible for federal aid). 
• You are in default on a previous federal loan.

First-time borrowers are required to Complete a Master Promissory Note (MPN) and Complete Entrance Counseling for the Direct PLUS Graduate Loan at studentaid.gov. The Master Promissory Note and Counseling must be signed/completed for the loan to appear as a credit on the bill and disburse into your student account.

In most cases, you will only need to complete these items once during your college career. You do not need to sign a new MPN for every application submitted; unless your application is denied and then later approved with an endorser or it has been longer than 10 years since you have last signed a note.

You can preview a copy of the Graduate Plus MPN or Graduate Plus Loan Entrance Counseling on studentaid.gov or for more information and/or to complete the MPN or Counseling log onto studentaid.gov.

If you have technical difficulty signing the MPN, please contact the U.S. Department of Education's Student Loan Support Center at 800-557-7394.