Federal Direct Graduate PLUS Loan
- Request a PLUS Loan: Go to studentloans.gov and click on the Log In button. You will need your FSA ID to log in. Once you’re in, click on Apply for a PLUS Loan. Follow the on-screen instructions until you see the word “Congratulations.” This means you have passed the credit check for a Graduate PLUS Loan. TCU will receive notification of your credit decision within 2 business days.
- Graduate students with an adverse credit history may become eligible for the Graduate PLUS Loan because of an approved appeal or obtaining an endorser. When this happens, the student must complete loan counseling at studentloans.gov. This counseling is in addition to loan entrance counseling also required for first time graduate borrowers of federal loan programs.
- If you are required to complete a Master Promissory Note (MPN), TCU will notify you. Once logged in to studentloans.gov, click on Complete Loan Agreement for a PLUS loan (MPN). Follow the on-screen instructions from there. TCU will receive electronic confirmation that you have passed the credit check and completed the MPN process.
- If this is your first time borrowing Graduate PLUS Loan at TCU, you will need to complete entrance counseling at studentloans.gov. Once logged in, click on Complete Entrance Counseling and follow the on-screen instructions. TCU will be notified electronically when you have completed this step.
Frequently Asked Questions
This loan is available for Graduate and Professional students only. FAFSA is required, the student must be enrolled in at least 3 hours, and students must borrow Stafford loan eligibility before Graduate PLUS loans will be certified. The maximum amount for the Graduate PLUS loan is TCU’s cost of attendance minus other financial aid. The U.S. Department of Education will check your credit for eligibility. Interest accrues immediately, but payments are not required as long as the student is enrolled at least half-time.
Fixed Interest Rates for Direct Grad PLUS Loan
|First disbursed on or after July 1, 2018, and before July 1, 2019||7.60%|
|First disbursed on or after July 1, 2019, and before July 1, 2020||7.08%|
Loan Origination Fees for Direct Grad PLUS Loan
|First disbursed on or after Oct. 1, 2018, and before Oct. 1, 2019||4.248%|
|First disbursed on or after Oct. 1, 2019, and before Oct. 1, 2020||4.236%|
The Grad Other Loan Eligibility amount indicates the maximum amount a student is able to apply for during that academic year, based on TCU’s cost of attendance and the other aid the student is receiving. Students do not have to borrow the maximum.
For more information about the Direct Loan Program, visit the Department of Education.