The Federal Direct Graduate PLUS Loan is a long-term, fixed-rate loan borrowed by graduate students to bridge the financial gap between their educational cost of attendance and their other financial aid. Students must borrow their maximum eligibility in Federal Direct Loans before they may apply for this loan program. Eligibility is calculated by the Cost of Attendance minus other financial aid.
Interest Rate: 7.9% fixed
Loan Fees: 4.204%
Credit Check: Yes (no adverse credit)
Annual Loan Maximum: Total cost of attendance minus all aid resources and loans received.
Lifetime Loan Maximum: None
Repayment Begins: Payment of principal and interest begins once the loan is fully disbursed. The loan will be placed into deferment for graduate students while you are enrolled at least half-time.
Repayment Terms: 10-25 years based on balance owed
Eligible for Federal Loan Deferments, Forbearances, or Loan Forgiveness: Yes
Eligible for Federal Consolidation: Yes
Interest Payments Eligible for Federal Tax Deduction: Yes
STEP 1: Determine the amount of FPLUS loan that you wish to borrow using our Loan Worksheet.
Step 2: Go online to studentloans.gov and click on the green "Sign In" box under "Manage My Direct Loan." The students Federal PIN is required to sign in.
Step 3: After signing in, select:
Step 4: Syracuse University will transmit final loan approval and disbursement request to Department of Education.
Step 5: For new borrowers, an entrance counseling or loan counseling session must also be completed on studentloans.gov.
To reduce the loan amount or decline the loan completely, students must notify the Office of Financial Aid and Scholarship Programs by completing the Loan Reduction/Cancellation Form.
Fill out this form to cancel or reduce your current loan(s) or Federal TEACH grant.
Office of Financial Aid and Scholarship Programs
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