Federal Grad PLUS Loan

How to Apply

  1. At, you will need to “Sign In” using your federal PIN. (same PIN that was used to sign the FAFSA.)
  2. Once signed in, you will want to “Request a PLUS Loan.”  The loan type will be “Graduate PLUS.”
  3. To complete the application, you will need to provide:
    • Personal Information
    • Employer Information (if employed)
    • Academic Year (i.e. 2015-2016)
    • School Information
    • Loan Information (amount requesting and semesters)
  4. You will then need to review the application information and submit it for a credit check. Credit checks are valid for 180 days.
  5. If the loan is approved, you will then be directed to complete Entrance Counseling and the Master Promissory Note (for first time borrowers).  The loan funds will be credited directly to your account.  If you choose to borrow through the Direct PLUS loan program in future years, you will need to complete a new application each year, but you will not have to sign another master promissory note.  The promissory note is good for up to 10 years.
  6. If the loan is denied, you will be given the option to appeal the credit decision or obtain an endorser for the loan.(If you obtain an endorser for the loan, a new promissory note will need to be signed each year.)
    • A new loan counseling requirement for applicants who are determined to have an adverse credit history, but who qualify for the Direct PLUS Loan by documenting extenuating circumstances or obtaining and endorser. The applicant must complete the counseling on the Department’s web site.

About the Grad PLUS Loan

The Grad PLUS loan is a non-need-based federal loan program administered by Valparaiso University.  The borrower can be a graduate student or law student. The Grad PLUS Loan can cover up to the cost of attendance less other aid. The interest rate is fixed and has a 4.292  percent fee deducted from the Federal PLUS loan before it is credited toward your charges. There is no federal interest subsidy.

Requirements of a Borrower:

  • A US Citizen or eligible non-citizen
  • Not in default on prior educational loans
  • Meets federally defined credit worthiness standards.  An applicant cannot be:
    • one or more debts with a total outstanding balance greater than $2805 that are either 90 days or more delinquent at the time of the credit report, or placed in collection or charged off in the preceding two years from the credit report date,
    • the subject of a default determination, bankruptcy discharge (Chapters 7, 11 or 12), foreclosure, voluntary surrender, Foreclosure proceedings, deed in lieu of foreclosure, repossession, tax lien, wage garnishment or write-off of a Title IV debt during the last five years, or have:
    • unpaid collection accounts and charge offs regardless of timeframe.
  • Enrolled at least half-time in a degree program
  • Making satisfactory academic progress

Repayment Terms

  • Repayment begins within 60 days of disbursement
  • Can apply for an in-school deferment (repayment would begin 45 days after you are no longer enrolled at least ½ time.)
  • 30 year maximum repayment period