Federal Graduate PLUS Loan


In addition to the Federal Direct Unsubsidized Loan available to student borrowers, graduate students may borrow additional funds through the William D. Ford Federal Direct Graduate PLUS Loan program. The borrower must be a graduate or professional student. The lender is the U.S. Department of Education rather than a bank or credit union. Students may borrow any amount up to the cost of education minus any other financial aid and assistantships they are receiving. Eligibility will be based upon a satisfactory credit check.

To apply, submit the application online (PIN and minimum browser support required). The Free Application for Federal Student Aid (FAFSA) must be submitted before a Federal Direct Grad PLUS Loan Application can be processed. By completing a Federal Direct Graduate Plus Loan application, the student borrower authorizes the Department of Education to review the borrower's credit record for each loan received.

For more information regarding this program, visit the Direct Loan Servicing Center's website or call 1-800-848-0979.

View the Eligibility Chart »   Graduate PLUS Loan FAQs »

Promissory Note

The Master PLUS Promissory Note (MPN) will simplify the processing of your loan(s). The Federal Direct Grad PLUS MPN is a promissory note that can be used to make one or more Federal Direct Grad PLUS Loans to a borrower to help pay for the educational costs of their education for one or more academic years. In most cases, the student may receive additional Federal Direct Grad PLUS Loans for themselves up to 10 years without completing a new Federal Direct Grad PLUS MPN.

If it is determined that the student has an adverse credit history and has obtained an endorser for a Federal Direct Grad PLUS Loan, the Federal Direct Grad PLUS MPN that the student completes becomes a "single-loan" promissory note. No further Federal Direct Grad PLUS Loans may be made under that Federal Direct Grad PLUS MPN. The endorser is liable only for the specific loan that he or she has agreed to endorse.

To complete your Grad PLUS Master Promissory Note, visit the Direct Loan Servicing Center (PIN and minimum browser support required).


The interest rate is fixed and is adjusted each year on July 1. The interest rate will never be higher than 9 percent. There is a 4 percent loan fee deducted from each disbursement of the PLUS loan. (Direct Loan Servicing Center’s calculators and the current loan interest rate.)

The loan will be applied to your Bursar account. The loan must be disbursed in two equal amounts at the beginning of each term. A check is made payable to the student and mailed to the student's local home address if the loan disbursement is in excess of the amount owed to the university.

Changing your loan amounts

You may cancel all or portions of your loan(s) after the funds have been credited to your Bursar account by notifying us in writing within 30 days after the date of the disbursement notice.

Contact the One Stop (OneStop@MiamiOH.edu or 513-529-0001) to determine if eligibility for increased funding is available. Please note that you may borrow any amount up to your cost of attendance minus any other financial aid you may receive for the academic year.

Borrower's Responsibilities—Repayment

While you are enrolled in school at least half-time (5 credit hours), you are automatically placed in an in-school deferment status that allows you to postpone payments on your Grad PLUS loan until you graduate or drop below half-time. The Federal Direct Loan Program offers loan repayment plans designed to meet the needs of almost every borrower. You may choose between the standard, extended, or graduated repayment plans.

Your first payment will be due 45 days after the deferment end date. Your loan servicer will notify you 60 days before your deferment ends. Approximately 7-10 business days after the first disbursement of your loan, your loan is assigned to a loan servicer who will then send you information regarding your loan. Repayment of PLUS loans is managed by your loan servicer. Review your loans and to obtain your loan servicer contact information. You will need to login using your FAFSA PIN, SSN, and date of birth.

You will have from 10 to 25 years to repay depending upon the repayment plan chosen. To estimate an amount of repayment based on the standard, extended, or graduated repayment plans, you can use the Federal Direct Loan's interactive repayment calculator. Calculations are estimates and the values may not reflect the actual amount computed by the Direct Loan Servicing Center.