Federal PLUS Loan for
Graduate Students

• The Federal Grad PLUS Loan is a credit based federal loan for graduate students.
  
  
• Loan is not subsidized by the federal government. Effective July 1st 2008 the Federal Grad PLUS loan will have a fixed interest rate of 8.5%.
  
  
• Repayment can be deferred while the student is enrolled in school for at least half-time. Please contact the lender for more information.
  

To be eligible for a Federal Grad PLUS Loan,
you must:

• Complete the Free Application for Federal Student Aid (FAFSA) and meet federal eligibility requirements of U.S. citizenship or eligible non-citizenship status.
  
  
• Be degree-seeking in a graduate program at UCF.
  
  
• Be enrolled at least half-time in UCF graduate classes per semester that count toward your degree completion. At time of disbursement, you must be attending at least half-time. Masters, Specialists, and Doctoral students – minimum of 4.5 hours fall or spring, 3 hours in summer; Master’s thesis and Doctoral dissertation students - minimum of 1.5 hours in all semesters.
  
  
• Complete verification (if selected) and any outstanding documents found on the myUCF To Do List.
  
  
• If in receipt of a Federal Grad PLUS Loan during this academic year at another institution, make sure that the remainder of that loan is canceled before applying for a loan at UCF.
  
  
• After notification that the loan has been processed, you must complete the online Master Promissory Note.
  
  
• Understand that total aid cannot exceed the cost of attendance. Other aid (Scholarships, fellowships, waivers, etc.) affects financial aid eligibility.  For more information visit http://finaid.ucf.edu/applying/app_costs.html.
   
  
• Meet the standards of Satisfactory Academic Progress (SAP). For more information, visit http://finaid.ucf.edu/receiving/sap.html.
  
  
• Complete the online Grad PLUS Entrance Interview at http://finaid.ucf.edu/loans/entrance.html if this is your first Grad PLUS Loan at UCF.
  

How to Apply

1. File the FAFSA for the current aid year.

2. Complete and submit the Federal Grad Stafford Loan Request Form for both Subsidized and Unsubsidized maximum eligibility.  You MUST apply for the Subsidized and Unsubsidized Federal Stafford loans before applying for a Federal Grad PLUS loan!

3. Complete and submit the Federal Grad PLUS Loan Request Form. Students may want to obtain a pre-approval letter from a preferred lender prior to filling out a request form.  If you are NOT eligible for a loan during the fall semester, you must apply for a spring only loan on the spring Federal Grad PLUS Loan Request Form.

• If you want to use a lender that is not on our Preferred Lender list, please contact our office for the appropriate form, finaid@mail.ucf.edu .

4. Complete the online Grad PLUS Entrance Interview at http://finaid.ucf.edu/loans/entrance.html if this is your first Federal Grad PLUS Loan at UCF.

5. Once the loan has been certified, borrowers will receive e-mail notification with instructions on how to complete the Master Promissory Note (MPN).

6. The chosen lender will conduct a credit check. If the credit is denied, the Grad PLUS loan will be canceled.  If the lender later approves an appeal, we must have written notification from the lender.