GRADUATE STUDENT AID 
Assistance through the Office of Student Financial Aid
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PLUS Loans for Graduate and Professional Students Beginning July 1, 2006, graduate and professional students are eligible to borrow through the Federal Direct PLUS Loan program. Previously this loan was only available to parents of undergraduate students. To apply for a Graduate/Professional PLUS Loan, you must follow the financial aid application procedures. After you have been awarded a Graduate/Professional PLUS, you must complete a new PLUS Master Promissory Note (MPN) on-line using your federal PIN number. Click the Graduate PLUS option on the Direct Loan web site. Although the new legislation authorizing this change is in place, most references to the program on the federal web sites and official notices still refer to the PLUS Loan being a program for parents of undergraduate students. This loan does go through a federal credit check process. This review looks for bad credit only. You do not have to meet other financial standards as with other private alternative loans. All Direct Loans obtained after July 1, 2006 will be at a fixed interest rate. The Stafford Loans will be 6.8% and the PLUS Loans will be 7.9%. Your loan payments will be deferred while you are at least a half-time student. The University of Iowa participates in the National Student Clearinghouse. Every two weeks enrollment data is electronically sent to the Clearinghouse. All lenders have access to the Clearinghouse to verify student enrollment.