Who is Eligible

The Federal Direct Graduate PLUS loan is available to students who:

• are enrolled in a graduate/professional-level, degree-granting program, and
• have filed and met the FAFSA eligibility criteria, and
• meet the minimum enrollment required for each semester they are seeking assistance
  • Graduate students – enrolled at least half-time (5 or more credits)
  • Law students - enrolled at least half-time (6 or more credits)
  • Medical students - enrolled at least half-time
• A credit check is required to determine credit worthiness
  • Credit worthiness is defined as having no credit, having good credit, or not having an adverse credit history
  • Students are notified by the Department of Education of their loan approval or denial. If denied, students will be advised of the process to appeal the credit decision or the steps to add a credit-worthy endorser (similar to a co-signer)
• Maximum loan amount is based on the student’s cost of attendance minus all other financial aid (loans, grants, scholarships)
• Students wishing to apply for the Federal Direct Graduate PLUS loan will submit their request directly to the financial aid office (see below for process) to have the credit check performed. The Graduate/Professional financial aid offices do not utilize the online credit check process performed on the Federal Student Aid website.

Visit Annual Credit Report to learn more about your credit

Interest Rates

• For loans first disbursed between July 1, 2024 - June 30, 2025 the interest rate is fixed at 9.083%
• Interest rate is fixed for the life of the loan
• Rates are determined each year based on the 10-year Treasury note index plus a statutorily defined add-on

Loan Fees

• Current: 4.228%
• Loan fees are deducted from loan proceeds prior to the disbursement of funds and borrowers are responsible for repayment of all such fees.

Repayment Plans

Repayment on the loan begins 180 days after a student falls below part-time status, graduates or stops attending school. Students have over seven different repayment terms to select, some of which are income-driven.

Refunds and Credit Balances

For accounts that reflect a credit balance, a refund check will be generated within 14 days of school beginning and/or the funds coming to the university. One Stop will process any credit refunds by direct deposit to the bank account provided in the Self-Service portal or by mailing a check to a student’s permanent address.

Law Student Application Process

To begin the online application process for a Federal Graduate PLUS Loan, you must complete the Federal Direct Graduate PLUS Loan Data Form.

This form is to be completed by all students who wish to borrow a Federal Direct Graduate PLUS loan. The steps to obtaining a Federal Direct Graduate PLUS loan are listed below:

1. Complete and submit the form as a PDF.
   This form will be submitted to the Office of Financial Aid. Remember to select the loan period that corresponds to the amount of your loan request (ex. Fall and Spring, one half of your loan is disbursed each semester.) The Office of Financial Aid will transmit your loan request to the Direct Loan Servicer. To receive a Federal Direct Graduate PLUS loan, the borrower must have a good credit history. You will be notified directly from the Direct Loan Servicing Center of your credit decision. If your credit is not approved, you may be advised of a credit-worthy endorser option.
   
   Note that the form must be downloaded and submitted as a PDF. Files that are submitted as JPG or PNG files will not be accepted but can be emailed to lawfinaid@qu.edu. 
   
   Complete the Federal Direct Graduate PLUS Loan Request Sheet (PDF)
   Submit the PDF through the electronic document submission form
2. Complete a Federal Direct Graduate PLUS Master Promissory Note (MPN) upon credit approval.
   Your correspondence from the Direct Loan Servicing Center will instruct you to complete your MPN at studentaid.gov. You will need your U.S. Department of Education FSA ID to sign onto the site. In most cases, your MPN is good for 10 years, and this step will only need to be completed once. The Direct Loan Servicer will notify us when you complete and sign your MPN.