Direct Graduate PLUS Loans
2012-13

Graduate students wishing to apply for a Direct Graduate PLUS Loan MUST compete a Free Application for Federal Student Aid (FAFSA).

ALL graduate students who wish to borrow a Direct Graduate PLUS Loan who do not already have a Direct Graduate PLUS Loan Master Promissory Note (Direct Grad PLUS MPN) on file, MUST complete a Direct Grad PLUS MPN. In addition, they must also complete a Direct Graduate PLUS Loan Request Form.

If the student has not had a previous Graduate PLUS Loan, they must also complete the federally required Graduate PLUS Entrance Loan Counseling.

1- Direct Graduate PLUS Loan Request Form. Graduate students should complete this form and return it to the UW-La Crosse Financial Aid Office in order to apply for a Direct Graduate PLUS Loan.

2- Direct Graduate PLUS Loan Master Promissory Note (Direct Graduate PLUS MPN). The graduate student MUST complete a Direct Graduate PLUS MPN.

The graduate student can sign the Graduate PLUS MPN electronically with the Department of Education PIN. If they do not have the DOE PIN, they can obtain one at www.pin.ed.gov.

3- Direct Graduate PLUS Entrance Loan Counseling (Direct PLUS ELC). Required for all first time Graduate PLUS borrowers.

Direct Graduate PLUS Loan funds are applied electronically to the student's bill.

All Direct Graduate PLUS loan proceeds in excess of charges owed to UW-La Crosse will be made available to the student by whatever method they chose when they activated their Tower One i.d. card.

Eligibility
To be eligible, the student must:
* be creditworthy
* be a U.S. citizen or eligible non-citizen, and provide a valid Social Security Number
* complete a Free Application for Federal Student Aid (FAFSA)
* be admitted to a graduate program
* be enrolled at least half-time

Co-Signers or Endorsers
Some Graduate PLUS Loan applicants may require an endorser to be credit-eligible for this loan. Tips for Selecting a Co-Signer.

Interest Rate, Fees, etc.
Interest Rate: The interest rate for Direct Graduate PLUS Loans is a fixed rate of 7.9%. Interest begins accruing once the loan is disbursed and repayment begins approximately 60 days after the graduate student graduates, decides to leave school or drops below halftime.
Fees: Origination Fee of 4% is assessed prior to disbursement.
Annual Loan Limit: Cost of education minus other financial aid.
Cumulative Loan Limit: None
Repayment term: 10 years. Deferment and forbearance options available.