Federal Direct Graduate PLUS Loans

Graduate PLUS loans are part of the Federal Direct Loan Program.

For: Graduate students enrolled at least half time and who do not have an adverse credit history.

Loan Amounts: Students can borrow up to the cost of attendance minus any other aid. The total education cost can include tuition, living allowance, books and supplies, and transportation.

Interest Rate: Fixed at 7.9%. Loans carry a fee of up to 4% that may be deducted from the loan disbursement.

Repayment: Students can defer payments while in school. There is no prepayment penalty. Interest accrues during in-school periods and may be paid or added to the principal at repayment.

Process:

• If one has not been submitted for the current year, the student completes the Free Application for Federal Student Aid (FAFSA) (http://www.fafsa.gov/).
• Student completes the Direct Graduate PLUS Loan Request, Direct Graduate PLUS Master Promissory Note (MPN), and Graduate Level Direct Loan Entrance Counseling. All forms are available online at http://www.studentloans.gov/.
• The Office of Financial Aid receives Direct Graduate PLUS MPN and the Approved/Endorsed Graduate PLUS Loan Record from U.S. Department of Education (ED) and adds the Graduate PLUS award to myFinAid.
• Student goes to myFinAid to accept, reduce, or decline the Graduate PLUS award amount.
• If student is registered and all official transcripts are on file with the Office of Admissions, the Office of Financial Aid sends a Direct Graduate PLUS Loan origination record to ED.

You will need to accept or reduce the Graduate PLUS Loan amount prior to the record being sent for certification.

Do you have questions about financial aid? If you haven’t yet applied to Walden, please contact an enrollment advisor at 1-866-492-5336 in the United States. If you are a current student, please contact a financial aid advisor at finaid@waldenu.edu or call 1-800-WALDENU (1-800-925-3368).