Graduate PLUS loans are part of the Federal Direct Loan Program.
Federal Direct Graduate PLUS loans are available to graduate students enrolled at least half time who do not have an adverse credit history. Students may borrow up to the cost of attendance minus any other financial aid received. The total education costs may include tuition, living allowance, books and supplies, and transportation. Graduate students must use their Federal Direct Unsubsidized loan eligibility prior to applying for a Federal Direct Graduate PLUS loan.
Loan fees are retained by the federal government to reduce the cost of supporting these low interest loans.
*Students who apply for a Federal Graduate PLUS loan with adverse credit will be required to complete PLUS Credit Counseling.
The U.S. Department of Education is responsible for all Graduate PLUS loan credit decisions. Graduate PLUS Loan borrowers are required to pass a simplified credit check, meaning that the U.S. Department of Education is not looking for a certain credit score or for an extensive credit history, but simply the absence of an adverse credit history. Students can view their application status at StudentAid.gov or by calling Federal Direct Loans at 1-800-557-7394. Credit checks remain valid for 180 days.
The following may cause a Graduate PLUS Loan to be denied. Please refer to StudentAid.gov for more information.
Students will receive an immediate response of an approved or denied application upon electronic completion as well as the loan reference number, which is needed if the student wishes to pursue an endorser. The Office of Financial Aid will be notified electronically of the credit decision only if the application was completed electronically. Applications are not approved or denied based on the dollar amount requested; therefore, students should NOT complete additional applications once a denied decision is rendered by the Department of Education. Approval for the Graduate PLUS loan is specific to the individual loan. It is possible to be approved for one loan and denied at a later date for a new loan. Once the loan application is denied, the student must either find an endorser or appeal the credit decision by documenting extenuating circumstances.
The Office of Financial Aid has no control or influence on the credit decision rendered by the U.S. Department of Education. All correspondence regarding credit appeals and endorsers must be sent to the U.S. Department of Education.
Denied students still have two options to obtain the Graduate PLUS Loan:
The steps below are to be taken by the endorser. These steps MUST be completed electronically and in a single session; paper addenda will not be accepted:
Usually done in three equal amounts at the beginning of each semester/quarter and sent directly to the university. A federal loan fee may be deducted from the proceeds.
Federal Direct Graduate PLUS loan repayment normally begins six months after a student graduates, leaves school or drops below half time enrollment.
Do you have questions about financial aid? If you haven’t yet applied to Walden, please contact an enrollment specialist at 855-646-5286 in the United States. If you are a current student, please contact a financial aid advisor at [email protected] or call 1-800-WALDENU (1-800-925-3368).