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Direct Loans Federal Graduate PLUS Loan Information


Federal Direct Graduate PLUS loans are loans that graduate students can borrow to help pay for their educational expenses, as long as the student is an eligible, independent, 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 Stafford Loans and/or other assistance you have received.

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. Graduate PLUS loans are subject to a maximum 3% origination fee and 1% default fee. These fees are deducted from your loan proceeds at the time of disbursement. Also, the maximum repayment interest rate is set at an 7.9% fixed rate.

The repayment period for a Federal Direct PLUS Loan made to a graduate or professional student begins on the date of the final disbursement of the loan, and the first payment is due within 60 days after the date the loan is fully disbursed. A graduate or professional Federal PLUS Loan borrower may receive a deferment while he or she is enrolled in at least a half-time basis at an eligible school. YOU will need to contact your lender to see if the deferment applies. Deferments are not automatic and will require that you submit the proper request.


At UNO, we require completion of the Free Application for Federal Student Aid (FAFSA) before a Graduate PLUS Loan can be processed. A FAFSA may be completed online at: www.fafsa.ed.gov.


To apply for a Direct Loan Graduate PLUS Loan for the 2012-2013 academic year form, click here. If you prefer, you may stop by the Financial Aid Office to pick up the Authorization Form, or you may contact our office at 402.554.2327 and request that we mail the form out to you.

2013-2014 academic year application

For the 2013-2014 academic year, a new process is required for processing Grad PLUS Loans and that process is outlined below:
Step 1
Determine how much you need to borrow. Once you have determined the amount you want to borrow, please contact the UNO Financial Aid Office at unofinaid@unomaha.edu and request that we award you the Grad PLUS Loan. Keep in mind that you will be responsible for repayment of this loan.
Step 2
After you have been awarded and have accepted your Grad PLUS Loan, you will need to go to https://studentloans.gov to complete the Grad PLUS
Step 3
A Grad PLUS borrower must not have an adverse credit history. To determine whether you have an adverse credit history, your information will be submitted to the Direct Loan Origination Center for a credit decision. A Grad PLUS applicant who is determined to have an adverse credit history may receive a Grad PLUS Loan if he or she obtains an endorser who does not have an adverse credit history.
Step 4
If you have previously signed a Master Promissory Note (MPN) for a Federal Direct Grad 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 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 PIN. Please access the Department of Education's Student Loans website at https://studentloans.gov and complete a Master Promissory Note for Graduate PLUS loans. Our office will be notified once you have completed this process. This notification must be received before we can disburse your Federal Direct Grad PLUS Loan to your consolidated billing account.
Step 5
If you are a first-time Federal Direct Grad PLUS Loan borrower at UNO you must complete Entrance Counseling. Please visit the Department of Education's Student Loans website at https://studentloans.gov and complete Grad Entrance Counseling.

Please Note: If your enrollment during fall semester drops below half-time status (4 credit hours for graduate students) it will cause the spring disbursement of your academic year Federal Direct Stafford Loan to be canceled.