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The Graduate PLUS loan allows a graduate or professional student to borrow up to the full cost of attendance less regular financial aid. The Grad PLUS loan has the same fixed 8.5% rate and ten year repayment term as the traditional PLUS loan. However, unlike the traditional PLUS loan, this loan is deferred for the student while they are in school. There is no grace period. Unlike private loans, the Grad PLUS loan can be included in a federal consolidation loan.
The current Graduate PLUS loan interest is shown below
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Graduate PLUS interest rate |
8.5% |
A .25% rate reduction is offered on the Graduate PLUS loan when you sign up for the Great Lakes Higher Education "Check Free" automatic payment option.
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