Federal Direct Graduate PLUS Loan

The Federal Direct Graduate PLUS Loan Program provides low-interest, long-term loans to matriculated students enrolled at least half-time for education expenses.

The lender of these loans is the federal government and repayment is to the U.S. Department of Education.

Graduate PLUS Loan Basics

Application Form

Students must file the Free Application for Federal Student Aid (FAFSA) to be eligible for federal loans. Students also must have applied for their annual loan maximum eligibility under the Federal Direct Student Loan Program before applying for a Federal Direct Graduate PLUS loan.


There are no set annual or aggregate limits. You may borrow up to your full cost of attendance, minus any other financial aid you receive (including Direct Unsubsidized Student Loans, and scholarships).


Borrowers must be U.S. citizens or eligible non-citizens, must be enrolled in at least half-time (6 credit hours) during a semester, accepted in a degree-seeking program at St. John Fisher University, and maintaining satisfactory academic progress for financial aid eligibility in a graduate or professional program. Loan approval is subject to a credit check based on criteria established by the U.S. Department of Education.

Interest Rate

Federal Direct Graduate PLUS Loans have a fixed interest rate of 9.08% for loans with a first disbursement date on or after July 1, 2024. Loans disbursed prior to July 1, 2024, will have a fixed interest rate of 8.05%. This interest rate will not change throughout the life of your loan. Loans disbursed on or after October 1, 2020, will be charged a 4.228% fee. Please note: Loan rates and fees are subject to change due to congressional action.

Master Promissory Note for Direct PLUS Loans, including Borrower's Rights and Responsibilities Statement


Repayment begins on the date of the last disbursement of the loan and the first payment is due within 60 days after the date the loan is fully disbursed. A Graduate PLUS borrower may receive a deferment while enrolled at least half-time (6 credit hours) at an eligible school. Upon dropping to less than half-time enrollment status, the borrower is not entitled to a grace period on his or her Graduate PLUS Loan.

Apply for a Graduate PLUS Loan

  1. Complete the FAFSA.
  2. Review and accept your Federal Direct Unsubsidized Student Loan Eligibility on Fish 'R' Net. Determine the additional loan amount needed for the year.
  3. Log In at Studentaid.gov. Sign In using your FSA ID. Select Apply for Aid. Select Apply for a Grad PLUS Loan. By completing this request, you are authorizing the loan amount and the Department of Education to check your credit report. You will receive an immediate loan approval or denial.
  4. FIRST TIME BORROWERS ONLY: At Studentaid.govComplete Entrance Counseling under Complete Aid Process. Once you have completed the Entrance Counseling, select Complete Master Promissory Note. Select PLUS MPN for Graduate/Professional Students.