Direct Grad PLUS Loan Master Promissory Note
Graduate or professional students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other financial aid received.
ALL graduate students who wish to borrow a Direct Graduate PLUS Loan and do not have a Direct Graduate PLUS Loan Master Promissory Note (Direct Grad PLUS MPN) on file, MUST complete a Direct Grad PLUS MPN. In addition, the student must also complete a Direct Graduate PLUS Loan Request Form.
If you are a first-time Graduate PLUS borrower, you must complete the Graduate Entrance Loan Counseling.
The terms and conditions applicable to Direct Parent PLUS Loans also apply to Direct Graduate PLUS loans. These requirements include a determination that the applicant does not have an adverse credit history, repayment beginning on the date of the last disbursement of the loan, and for 2013-14 will have a fixed interest rate of 6.41 percent.
Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Direct Subsidized and Unsubsidized Loan Program before applying for a Direct Graduate PLUS loan.
IMPORTANT INFORMATION BEFORE YOU BEGIN
Under Manage My
Direct Loan, choose Sign In.
You will need your Department of Education PIN Number (the one
used to sign the FAFSA).
When asked for the first two characters of your last name, only capitalize the first letter.
TO COMPLETE THE MASTER PROMISSORY NOTE:
Choose SIGN MASTER PROMISSORY
NOTE when it asks what do you want to do?
Choose Graduate PLUS when asked to select the type of loan you would like to receive.
You will need the following information for 2 references: first and last name, middle initial, complete address, telephone number and their relationship to you. You should use your parents as one reference. The two references must live at different addresses. A complete address includes permanent street address, city, state AND zip code.
Be sure to write down your Confirmation Code when asked to. It will be required to electronically sign the MPN.
PROCEED TO DIRECT GRADUATE PLUS LOAN
MASTER PROMISSORY NOTE
Choose "Sign Master Promissory Note"
REMEMBER that you must also complete the Direct Graduate PLUS Loan Request Form.
TO COMPLETE THE ENTRANCE LOAN COUNSELING:
Under Manage My Direct Loan, choose
Entrance Loan Counseling
Choose Complete Entrance Counseling
When asked about Counseling Type, choose the second option (I am completing entrance counseling in order to receive loans as a graduate or professional student.)
PROCEED TO DIRECT ENTANCE LOAN COUNSELING
Choose "Entrance Loan Counseling"