Federal Direct GRAD PLUS Loans – FAQ


How do I apply for a Federal Direct Grad PLUS Loan?

Click here for instructions on how to apply for a Federal Direct PLUS Loan and important dates.

What happens if my Federal Direct Grad PLUS Loan credit check gets denied?

If your credit has been denied for the Federal Direct GRAD PLUS Loan, you will be given options on the www.StudentLoans.gov application to choose from:

I will obtain an endorser*

  • Choose this option if you would like to add a co-signer.
  • Students should notify the SFA Loan Department in order for the Grad PLUS loan to be awarded if your credit is approved with an endorser.
  • Borrowers who required an endorser for approval of the GRAD PLUS loan must sign a new MPN for any supplemental or future GRAD PLUS loan.
  • Borrowers whose Direct GRAD PLUS Loan credit checks are denied on or after March 29th, 2015 and then approved with an endorser, must also complete a PLUS Counseling before the Direct GRAD PLUS Loan can be disbursed. The U.S. Department of Education will notify the borrower about the PLUS Counseling instructions

I want to appeal the credit decision*

  • Choose this option if you believe the credit check is inaccurate or you can provide updated information about extenuating circumstances
  • Students should notify the SFA Loan Department in order for the Grad PLUS loan to be awarded if your appeal has been approved.
  • Borrowers whose Direct GRAD PLUS Loan credit checks are denied on or after March 29th, 2015 and then approved through a credit appeal, must complete a PLUS Counseling before the Direct PLUS Loan can be disbursed. The U.S. Department of Education will notify the borrower about the PLUS Counseling instructions.

*For instructions on how to appeal or how to reapply using an endorser, please contact the Department of Education’s Applicant Services at 1-800-557-7394.

Do I have to complete a new Master Promissory Note for my Federal Grad PLUS Direct Loan?

If you have already completed a Master Promissory Note at UCF (without an endorser) you do not have to complete a new one.

However, if your loan required an endorser for credit approval, you must complete a new Master Promissory Note.

All new borrowers at UCF must complete a new new Master Promissory Note.

I signed a Master Promissory Note for my Direct Stafford Loan already. Do I have to sign another one for my Federal Direct Grad PLUS Loan?

YES. The Direct Stafford Loan Master Promissory Note is only valid for Direct Stafford Loans. You must also sign a new Federal Direct Grad PLUS Master Promissory Note.

How do I accept my Federal Direct Grad PLUS Loan?

Submitting a signed UCF Federal Direct Grad PLUS Loan application through the www.StudentLoans.gov website is your acceptance of the Federal Direct Grad PLUS Loan.

How can I reduce or decline my Federal Direct Grad PLUS Loan?

You cannot reduce or decline your Federal Direct Grad PLUS Loan on myUCF.

Please complete the online Loan Adjustment Form from the Financial Aid Forms webpage.

How long will it take for my Federal Direct Grad PLUS Loans to process?

The time that it takes to process a loan is contingent upon students meeting/completing all loan eligibility criteria.

For details of the loan eligibility criteria, please visit the Federal Grad PLUS Loan webpage.

How long will it take for my Federal Direct Grad PLUS Loans to disburse?

For information about loan disbursements, please visit our Disbursement of Financial Aid webpage.

Where can I return my Direct Loan refund that I received?

If you are returning your Direct Loan refund, contact your servicer for repayment options. To view your servicer’s contact information, please visit the National Student Loan Data System (NSLDS), www.nslds.ed.gov.