Graduate PLUS Loan

A graduate degree can be your next step toward a satisfying future - and Education Loan Center can help. Our student loan experts can help you find the best way to finance your graduate education based on your individual situation and needs, then guide you step-by-step through the financial aid process.

Hundreds of thousands of students have reached their goals through Education Loan Center, and you can too!

The ideal choice for many graduate and professional students
The Federal Graduate PLUS Loan offers a smart solution for graduate students of all ages and stages of life. For undergraduates going on to graduate school, who may have little or no savings or income, the Graduate PLUS can provide the money you need. For professionals going back to graduate school, the Graduate PLUS may offer advantages over using your savings, home equity, or high-interest loans.

Get 100% of the money you need
You may borrow up to the total amount needed to pay for tuition, room and board (on-campus or off-campus housing), fees, books, and other education related expenses, minus any other financial aid you will receive. You must first complete the Free Application for Federal Student Aid (FAFSA) and apply for your maximum loan eligibility in Stafford Loans before the Graduate PLUS can be awarded. Education Loan Center can answer your questions and help you every step of the way.

Be confident your costs are covered
Your Graduate PLUS Loan will be disbursed to your school. The school will apply the funds directly to your tuition, room and board, fees and other expenses. Any remaining money will be sent to you or placed in a school account.

Most people are eligible
Your school's Financial Aid Office will determine your eligibility based on the information you provide in the FAFSA (Free Application for Student Financial Aid). To be eligible for federal aid you must:

• Be enrolled at least half-time in an eligible program
• Show satisfactory academic progress
• Be a US citizen or eligible non-citizen
• Meet minimal federal credit requirements
• Apply for the full Graduate Stafford amount

Once your eligibility is determined, we will work with you and your school to help you get the money you need.

Credit requirements are minimal
In general, you will qualify if you have a satisfactory credit history. When you apply for a Federal Graduate PLUS Loan, a copy of your credit report will be obtained from a national credit bureau, as required by federal law. Adverse credit items that could affect eligibility include:

• Debts more than 90 days past due
• Unsatisfied judgments
• Unpaid collection accounts
• Evidence within the past 5 years of bankruptcy default, foreclosure, repossession, tax lien, wage garnishment or write-off of a Title-IV student loan debt

There are no collateral requirements or income limitations.

Pay no out-of-pocket fees
Loan fees, which may consist of an Origination fee of 3% and a Federal default fee of up to 1%, may be included in the total cost of education calculated by your school. Fees are deducted from your loan principal at disbursement - you pay nothing out of pocket.

Enjoy easy repayment terms
You have up to 10 years to repay your Federal Graduate PLUS Loan, and the minimum monthly payment is $50. Repayment begins within 60 days after the final disbursement of loan funds (usually February of the academic year); however, you may be able to defer repayment as long as you are enrolled at least half-time. You may also choose to accelerate your payments with no prepayment penalties. Any amount paid over your minimum monthly payment will be applied directly to principal.

Lower your monthly payments
Once you begin repayment of your loan, you may be eligible to combine all your federal student loans into a Federal Consolidation Loan. Consolidation could reduce your monthly payments up to 51%. For more information, call your Loan Consultant.

Apply promptly for the upcoming school term
You can apply for a Federal Graduate PLUS Loan at any time. We recommend you contact Education Loan Center promptly to begin the loan process and ensure funding for the upcoming school term. If you have already enrolled in graduate school or paid expenses, you can apply for a Graduate PLUS Loan retroactively to cover educational costs you've already incurred for the current school year.

Call 888-696-5637 for answers to your questions, help filling out forms and guidance through the entire student loan process. Our student loan experts will help you get the money you need for graduate school!