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Federal Direct Graduate PLUS Loans

Federal Direct Graduate PLUS loans are available for graduate or professional students to help pay for their educational expenses, as long as the student is an eligible graduate student enrolled at least half-time (four graduate hours).

The Federal Direct Graduate PLUS Loan can be used to borrow funds up to your Cost of Attendance, minus Federal Direct Unsubsidized Loans or other assistance you have received.

View current interest rates and origination fees for Federal Direct Graduate PLUS Loans.

Graduate PLUS loans typically have better terms and more flexible eligibility criteria than private alternative loans. Maximum loan fees and repayment interest rates are set by federal regulations.

Your Graduate PLUS Loan will be placed into deferment while you are enrolled at least half-time and for an additional six months after you cease to be enrolled at least half-time. If your loan is deferred, interest will accrue on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due. You will need to contact your loan servicer to see if the deferment applies.

Before a Graduate PLUS Loan can be processed you must complete the Free Application for Federal Student Aid (FAFSA). A FAFSA may be completed online.

Steps for processing Graduate PLUS Loans.

Step 1: Email UNO Office of Financial Support & Scholarships at unofinaid@unomaha.edu to request the Grad PLUS loan.

You must have a FAFSA on file for the year you are requesting the Grad PLUS Loan. You must have already borrowed or accepted the full annual limit of Direct Unsubsidized Loan ($20,500) in order to receive a Grad PLUS Loan.

Note: You must complete a Summer Aid Request on MavLINK in order to be considered for Graduate PLUS Loans during the Summer term. The Summer Aid Request notifies UNO of your intent to enroll in Summer courses and assists UNO in determining your Title IV financial aid eligibility. If eligible for the Grad PLUS Loan it will be offered to you automatically in MavLINK, you do not need to request it via email.

Step 2: Accept the Grad PLUS Loan Option from your financial aid offered in MavLINK

Upon receiving your email request, the UNO Office of Financial Support & Scholarships will determine if you are eligible for the Grad PLUS Loan and if so, it will be offered to you in MavLINK as the Grad PLUS Loan Option. The amount you will be offered is the maximum amount you may borrow based on your cost of attendance. You may choose to accept a lower amount than what is offered. Please remember it is always best to only borrow what you will need to cover your educationally related expenses.

Note: You must complete a Summer Aid Request on MavLINK in order to be considered for Graduate PLUS Loans during the Summer term. The Summer Aid Request notifies UNO of your intent to enroll in Summer courses and assists UNO in determining your Title IV financial aid eligibility. If eligible for the Grad PLUS Loan it will be offered to you automatically in MavLINK, you do not need to request it via email.

Step 3: Complete Grad PLUS Authorization Form

After you accept the Grad PLUS Loan Option in MavLINK, the Grad PLUS Authorization Form will be added to your To-do List. You must sign and submit the form in order for your Grad PLUS Loan to be processed.

A Graduate PLUS borrower must not have an adverse credit history so your information will be submitted to the Direct Loan Origination Center for a credit decision. A Graduate PLUS applicant who is determined to have an adverse credit history may still receive a Graduate PLUS Loan if he or she obtains an endorser who does not have an adverse credit history. Learn more about the adverse credit history definition for purposes of qualifying for a Direct PLUS loan. (PDF)

Step 4: Complete Your Loan Documents

If you have previously signed a Master Promissory Note (MPN) for a Federal Direct Graduate PLUS Loan, a new promissory note for the upcoming academic year is not required; the MPN you signed previously is still valid and in effect.

If you are a first-time Federal Direct Grad PLUS loan borrower, you will need to complete an MPN. The MPN is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). The electronic version of the MPN allows you to complete, sign and obtain a copy of your MPN over the web using your U.S. Department of Education issued FSA ID. Please access the Department of Education's Student Aid website and complete a Master Promissory Note for Graduate PLUS Loans.

UNO's Office of Financial Support and Scholarships will be notified once you have completed this process. This notification must be received before we can disburse your Federal Direct Graduate PLUS Loan to your student account.

If you are a first-time Federal Direct Graduate PLUS Loan borrower at UNO you must complete Entrance Counseling. Please visit the Department of Education's Student Aid website and complete Graduate Entrance Counseling.

If you are determined to have an adverse credit history and you successfully appeal an adverse credit history or obtain an endorser, you must complete PLUS Credit Counseling prior to the Federal Direct Graduate PLUS Loan being disbursed. PLUS Credit Counseling is an online informational session for PLUS borrowers. Once the PLUS Credit Counseling session is completed, applicants will be provided a financial summary that includes loan balances, income expenses, and repayment plan details based on information provided during the counseling session. If PLUS Credit Counseling is required, we will receive the results of your completion of PLUS Credit Counseling electronically.

Please Note: If your enrollment during fall semester drops below half-time status (four credit hours for graduate students) it will cause the spring disbursement of your academic year Graduate Federal Direct Graduate PLUS Loan to be canceled.