PLUS Loans for Graduate and Professional Students

As a result of the Higher Education Reconciliation Act (HERA), graduate or professional students enrolled in an eligible program beyond a Bachelor's degree can now borrow through the Federal PLUS Loan Program. You may borrow up to the cost of attendance minus other estimated financial aid.

Eligibility Requirements:

Graduate/Professional students must:

• File the Free Application for Federal Student Aid (FAFSA).
• Apply for the maximum annual amount through the Federal Stafford Loan Program.
• Be a U.S. citizen or eligible non-citizen.
• Not be in default on an education loan.
• Be creditworthy.
• Be accepted for enrollment at a participating school; or, if enrolled, be making satisfactory academic progress.
• Be classified as at least a half-time student and working toward a degree or certificate.
• Be registered with Selective Service, if required.

Interest Rates, Fees & Repayment Terms:

Interest rates are fixed at 8.5%. According to federal regulations, a 3% origination fee and a 1% Federal Default Fee will be charged. Repayment begins within 60 days after the loan is fully disbursed, but payment can be deferred while you are in school at least half-time. A borrower may take up to ten years to repay the loan.  

Graduate students who are attending approved Pennsylvania schools or are Pennsylvania residents will qualify for a KeystoneBEST loan for Graduates, and can benefit from the same discounts as the KeystoneBEST loan for parents of undergraduates.