Graduate/Professional students who are first-time borrowers of the Federal Direct PLUS Loan, must complete an electronic Master Promissory Note (MPN) and on-line Entrance Loan Counseling to receive the funds. In most cases, the student will be required to complete the MPN and entrance counseling session only once during their years in college. Each year students will need to accept their loan(s) on the Student Loan Confirmation page in MyUI.

Obtain information regarding loan deferment, grace periods, and repayment plans from the Federal Student Aid website.

Lender:  Federal Government

Interest Rate: 

  • Fixed at 7.595% for loans disbursed July 1, 2018 - June 30, 2019
  • Fixed at 7.00% for loans disbursed July 1, 2017 - June 30, 2018
  • Fixed at 6.31% for loans disbursed July 1, 2016 - June 30, 2017
  • Fixed at 6.84% for loans disbursed July 1, 2015 - June 30, 2016
  • Fixed at 7.21% for loans disbursed July 1, 2014 - June 30, 2015

Interest Rate Cap:  10.50% for loans disbursed on or after July 1, 2013

Interest Free in School:  No

Credit Check:  Yes

Loan Fee:

  • 4.248% for loans disbursed October 1, 2018 - September 30, 2019
  • 4.264% for loans disbursed October 1, 2017 - September 30, 2018
  • 4.276% for loans disbursed October 1, 2016 - September 30, 2017
  • 4.272% for loans disbursed October 1, 2015 - September 30, 2016
  • 4.292% for loans disbursed October 1, 2014 - September 30, 2015

Annual Maximum:  Student cost of attendance minus other financial aid awarded

Cumulative Maximum:  None