Federal Direct PLUS (Graduate/Professional Student) Loan

Graduate/Professional students who are first-time borrowers of the Federal Direct PLUS Loan, must complete an electronic Master Promissory Note (MPN) and on-line Entrance Loan Counseling to receive the funds. In most cases, the student will be required to complete the MPN and entrance counseling session only once during their years in college.

Lender	Federal Government
Interest Rate	Fixed at 7.9% for loans received after July 1, 2006
Interest Free in School	No
Credit Check	Yes
Loan Fee	4%
Interest Rebate	1.5%
Annual Maximum	Student cost of attendance minus other financial aid awarded
Cumulative Maximum	None
Grace Period	None
Loan Deferment	Loan payments are automatically deferred while the student is attending school at least half-time.
Standard Repayment Period	Up to 10 years (additional repayment options beyond 10 years are available)
Minimum Payment	$50 per month

Additional information is available on the Federal Student Aid web site.