Grad PLUS loans

Grad PLUS Loans

What is a graduate student loan?

If you are a graduate student, the Grad PLUS Loan is an option for you to help pay your education expenses.

Here are some things to know about the Grad PLUS Loan:

The interest rate on Grad PLUS Loans is fixed.

The current interest rate for 2024–2025 is 9.08%.

The interest rate is based on the 10-year treasury rate plus a fixed margin of 4.6%.

There is a 4.228% loan origination fee on all Grad PLUS Loans. This fee will be deducted from each disbursement.

student woking on computer

How to apply for a Grad PLUS loan?

  1. To start the process of applying for a Grad PLUS Loan, you and your student must complete a FAFSA.
  2. After ASU receives your student’s FAFSA and they have completed all the items under their Priority Tasks on My ASU, you may be offered a Grad PLUS Loan.
  3. If you are graduating in the fall term and your Grad PLUS Loan is not automatically adjusted (i.e. spring canceled) you may email with the subject line: Adjust Loan(s) due to Fall Graduation, to request your Federal Direct Loan(s) be adjusted accordingly. Please note that you may not be eligible for the full amount in the fall term.

How to receive a Grad PLUS loan

When are Grad PLUS Loans disbursed?

All Grad PLUS Loan funds will be disbursed to you through Electronic Fund Transfer and will be applied toward your outstanding charges no earlier than seven days prior to the start of each semester.

What happens to the leftover loan money?

Any remaining funds will be disbursed to you via paper check or direct deposit to your personal bank account. You can set this up through My ASU.

How to pay back Grad PLUS loans?

A Grad PLUS Loan is like any other loan. You must repay the loan even if your financial circumstances change or you don’t complete your degree. Grad PLUS Loan payments begin 60 days after the loan is fully disbursed.

View repayment plans

Grad PLUS loan FAQs

Generally, you must have a good credit history to qualify. If your credit report indicates you’re 90 days or more delinquent on any debt; are in default; or have a bankruptcy, a foreclosure, a repossession, a tax lien, wage garnishment or a write-off of any Title IV federal financial aid during the last five years, you will not be eligible to borrow a Grad PLUS Loan unless you can obtain a creditworthy endorser who agrees to repay the loan if you don’t.

  • Log in to My ASU with your ASURITE User ID, and go to the Financial Aid and Scholarships box.
  • View your offered Grad PLUS Loan amounts.
  • Enter the amount that you would like to accept, but not more than the amount offered by ASU, and click the Continue button.
  • Processing of your loan will initiate a credit check through the U.S. Department of Education.
  • You must also complete a Federal Direct PLUS MPN if this is your first time borrowing a Federal Direct Graduate PLUS Loan or if a financial endorser was required on a previous Federal Direct Graduate PLUS Loan.

For all questions regarding your credit check, including credit criteria, please call the Federal Student Aid office at 800-433-3243.

There are some situations where payment can be deferred. It’s important to remember that if you are able to defer your Grad PLUS Loan, interest will continue to accrue during that time and any unpaid interest will be added to the principal balance of the loan. For more information on deferment, contact your loan servicer.

Federal PLUS Loans are subject to credit approval and can be denied based on certain criteria. You have two options available to consider if you are denied a Grad PLUS Loan because of your credit.

If your Grad PLUS Loan is denied because of your credit, you may be eligible to receive a Grad PLUS Loan by securing a creditworthy endorser who agrees to repay the loan if you do not, or you may appeal the decision by documenting extenuating circumstances. Contact the U.S. Department of Education PLUS Credit Appeal line at 800-433-3243 or online at

If you’ve been denied a Grad PLUS Loan and plan to secure a creditworthy endorser, you will be required to complete PLUS Loan Credit Counseling. To complete the PLUS Loan Credit Counseling and ensure that your endorsed PLUS Loan is sent to ASU, go to PLUS Loan Credit Counseling.

Explore other types of loans



federal student loans

Federal student loans

private student loans

Private student loans

Parent plus loan

Parent plus loan

private student loans

Grad PLUS loans