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The Federal GradPLUS Loan is federal student loan program that is available
to graduate or professional students enrolled at least half-time. Eligible
students may borrow up to the full annual cost of attendance, minus any other
financial aid awarded. The GradPLUS loan is not based on financial need,
although a credit check is required.
Some of the benefits of a GradPLUS loan:
- The interest rate is fixed at 8.5%
- The interest may be tax deductible
- The GradPLUS loan may be repaid any time without penalty
- GradPLUS loans can be consolidated with Stafford Loans and other eligible
federal education loans into one convenient, longer-term fixed-rate loan
- Loan payments may be deferred while enrolled in school and reduced or
deferred in times of economic hardship, if not in default
Students must complete the Free Application for Federal Student Aid (FAFSA)
and have their eligibility determined for other financial aid programs prior to
applying for a GradPLUS loan.
The federal government charges a 3% origination fee and the guarantee agency
may charge a Federal Default Fee of 1%. Fees may be deducted from the loan
before disbursement.
A GradPLUS Master Promissory Note (obtained from your lender) must be
completed in addition to the UND GradPLUS Loan Request Form below.
GradPLUS Loan Request Form
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