GradPLUS Loans

When it comes to financial aid, graduate schools tend to behave differently from undergraduate programs. Some graduate schools feel less obligated to provide grants and other forms of aid other than loans. Even after maximizing low-interest Stafford Loans, graduate students often have significant gaps between what they can afford and the cost of the program. Enter GradPLUS Loans!

GradPLUS Loans are federal student loans for graduate or professional program students that have a fixed interest rate (7.21% for the 2014-15 academic year) and higher borrowing limits than other federal loans.

How Much Can You Borrow?

You can borrow up to the cost of attendance minus any financial aid. Suppose a graduate student was enrolled in a program that cost $52,000 and he or she received a fellowship along with unsubsidized Stafford Loans totaling $34,000. The student would then be eligible for a GradPLUS Loan totaling $18,000.

Refinance your student loan

How to Apply

Getting a GradPLUS Loan is a fairly easy and common way of financing your graduate education. Clearly, your focus is to do as well as you can during school in order to be a very desirable new hire for any organization after graduation. So don’t let the jaw-dropping cost of grad school stop you from attending. Be smart about your college financing options, go to the place of your dreams, study hard, get that job you want, and you should find that the investment has paid off!

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GradPlus Loans

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