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Your Profile:     Campus • Graduate/Doctoral Degree • Traditional • Full Time     (change your profile)

Repaying Graduate PLUS Loans

For full-time graduate students, the Graduate Federal PLUS Loan Program is an attractive low-interest loan that can be the last piece of the puzzle in your search for educational aid. Once you've secured a Graduate PLUS Loan, you'll need to know repayment information right away.

Students enrolled at least half time in a graduate or professional degree that leads to a master's, law, or medical degree, are eligible for Graduate PLUS Loans. The 7.9% fixed interest rate begins to accrue after the first loan disbursement and repayment must begin within 60 days of the last disbursement.

Prioritize Your Payments
Before your repayment period on the Graduate PLUS Loan begins, you should choose the repayment plan that works best for you. You will have a choice of three plans:

  • Standard Repayment: With a minimum monthly payment of $50, you'll have a fixed monthly payment based on your total loan amount.
  • Extended Repayment: You'll have a lower monthly payment and a longer repayment period, with more interest owed in the long run.
  • Graduated Repayment: Your payments start low and increase over time. Initial minimum monthly payments are set at $50.

Graduate PLUS Loans generally come with a repayment period of ten years, although the extended repayment plan would mean a longer repayment period.

Avoiding Default
If you're having trouble making timely payments on your Graduate PLUS Loan, deferment and forbearance options may be available. Deferment may be available if you:

  • Are enrolled at least half time in an educational program
  • Are experiencing economic hardship
  • Cannot find full-time employment

You must apply for a Graduate PLUS Loan deferment. You should contact your lender immediately if you are concerned that you cannot make timely payments on your Graduate PLUS Loan. Avoid defaulting on your loan; a loan in default can affect your credit. Contact your lender for more information on Graduate PLUS Loan repayment options.