About PLUS Loans for Graduate Students and Professionals

Now the graduate and professional students can apply for Federal PLUS Loans for Graduates and Professionals in order to pay their college education. This loan helps the students (who meet the requirements) to pay the difference between financial aid already received - through scholarships, grants and student loans - and the cost of college attendance.

Eligibility Requirements
To be able to apply for a PLUS Loan for Graduate / Professional, you need:

* Be a U.S. citizen or eligible no citizen and have a social security number.
* Be enrolled in a program for graduate students or professionals.
* Completing the Free Application for Federal Student Aid (FAFSA, by its initials in English).
* Complete a new Master Promissory Note electronically - e-MPN (Master Promissory Note).
* Have applied the maximum yearly amounts (for which you qualify) in federal Stafford student loans subsidized and unsubsidized.
* Gather the eligibility requirements for credit - no debts with 90 or more days past due, have no delinquent or unpaid student loans, wage garnishment, bankruptcy or foreclosures during the last 5 years.


Loan Limits
There are no annual limits or added to request a PLUS Loan for Graduate and Professional.

You can borrow up the full cost of attendance minus any other financial aid received (including subsidized and unsubsidized loans, donations and full scholarships [fellowships]).

You may have to pay an origination fee of up to 3 percent and a federal reserve share non-payment of 1 percent.

Repayment of a PLUS Loan for Graduate and Professional
You must make the first payment after 60 days of disbursement of the loan. Usually this is while you are still studying in college. Not granted a grace period.

You can request a deferment for studies, provided that you are enrolled in a curriculum of study of at least half time. Please note that your PLUS Loan for Graduate and Professional accrues interest while you are in effect deferred payment and interest will be capitalized, unless they make a pact with the lender to pay the interest every three months.

You must apply separately for an extension for your studies PLUS Loan for Graduate / Professional, even if you have already received extensions for studies on FFEL loans with or without subsidy. If you request a student deferment, your loan will expire after 45 days of the termination date of the extension period.

You will have up to 10 years to repay a PLUS Loan for Graduate / Professional, and can choose among four payment options.

Now the graduate and professional students can apply for Federal PLUS Loans for Graduates and Professionals in order to pay their college education. This loan helps the students (who meet the requirements) to pay the difference between financial aid already received - through scholarships, grants and student loans - and the cost of college attendance.

Eligibility Requirements
To be able to apply for a PLUS Loan for Graduate / Professional, you need:

* Be a U.S. citizen or eligible no citizen and have a social security number.
* Be enrolled in a program for graduate students or professionals.
* Completing the Free Application for Federal Student Aid (FAFSA, by its initials in English).
* Complete a new Master Promissory Note electronically - e-MPN (Master Promissory Note).
* Have applied the maximum yearly amounts (for which you qualify) in federal Stafford student loans subsidized and unsubsidized.
* Gather the eligibility requirements for credit - no debts with 90 or more days past due, have no delinquent or unpaid student loans, wage garnishment, bankruptcy or foreclosures during the last 5 years.


Loan Limits
There are no annual limits or added to request a PLUS Loan for Graduate and Professional.

You can borrow up the full cost of attendance minus any other financial aid received (including subsidized and unsubsidized loans, donations and full scholarships [fellowships]).

You may have to pay an origination fee of up to 3 percent and a federal reserve share non-payment of 1 percent.

Repayment of a PLUS Loan for Graduate and Professional
You must make the first payment after 60 days of disbursement of the loan. Usually this is while you are still studying in college. Not granted a grace period.

You can request a deferment for studies, provided that you are enrolled in a curriculum of study of at least half time. Please note that your PLUS Loan for Graduate and Professional accrues interest while you are in effect deferred payment and interest will be capitalized, unless they make a pact with the lender to pay the interest every three months.

You must apply separately for an extension for your studies PLUS Loan for Graduate / Professional, even if you have already received extensions for studies on FFEL loans with or without subsidy. If you request a student deferment, your loan will expire after 45 days of the termination date of the extension period.

You will have up to 10 years to repay a PLUS Loan for Graduate / Professional, and can choose among four payment options.

How to Apply for a consolidate student loans
To apply, you must submit the FAFSA and complete a Federal PLUS promissory note that you can get your financial aid office or the bank, or electronic pay HESC.