Federal Direct PLUS loans are credit-based federal loans that graduate or professional degree students and parents of dependent undergraduate students can use to help pay education expenses.
To receive a Direct PLUS loan, you must:
In order to receive a Direct PLUS loan, you (or your child, in the case of Parent PLUS loan borrowers) must complete the FAFSA.
Law and Pharmacy students will be awarded Federal Direct Graduate PLUS Loans in your initial 2016-2017 financial aid award package. If you accept the full or a reduced PLUS loan amount through HUB Student Center, you will be authorizing a review of your credit to determine your eligibility for the loan. You DO NOT need to complete the application on StudentLoans.gov. Review the Additional Requirements and Credit Denial Options sections below for more information on steps that may apply to you.
Parents and Graduate or Professional (other than Law or Pharmacy) Students: Using your FSA ID (PDF), log in to StudentLoans.gov and select “Apply for a PLUS Loan” on the welcome screen. Complete the application process as prompted.
A credit check will be performed during the application process. The credit check will expire 180 days after the application date. If you apply for an additional loan after the expiration date, a new credit check will be required.
Eligible Direct PLUS loan borrowers will be required to complete a Direct PLUS Master Promissory Note (MPN) (PDF) agreeing to the terms of the loan. If your loan application is approved, you will be prompted to complete the MPN from the confirmation screen.
Graduate or professional students will also be required to complete entrance counseling (PDF) before receiving a PLUS loan.
Applicants who are denied but choose either the endorser or appeal option will have to complete additional requirements before a loan can be obtained. (Refer to the Credit Denial Options section below for more information.).
Applicants who are denied based on adverse credit history (PDF) may still receive a PLUS loan by either obtaining a qualified endorser, or successfully documenting extenuating circumstances relating to your credit history. Direct Loan PLUS Counseling (PDF) will also be required prior to the first disbursement of loan funds.
Parent PLUS applicants will be given a third option to accept the denial and request that their child be considered for additional Federal Direct Unsubsidized loan funds.
If you would like to cancel your request to obtain an endorser or appeal the credit decision, contact the Office of Financial Aid.
To ensure accuracy in the processing of your loan, we suggest that you apply for the loan once you have received your Financial Aid Award Notification and completed your registration for the upcoming term. Altering your registration after a loan has been processed may result in over or under awarding of financial aid funds.
To avoid late fees, apply for Federal Direct PLUS loans at least 2 weeks prior to the first eBill due date each term.
The deadline to apply for a PLUS loan is the last day of your enrollment in the term the loan will be applied.
Your Direct PLUS loan will enter repayment once the loan is fully disbursed. A loan borrowed for a full academic year will enter repayment after the spring portion has paid to the student account.
If you are a graduate or professional student, your loan will be placed into deferment while you are enrolled at least half-time (6 credit hours) and for an additional 6 month grace period once you cease to be enrolled at least half-time. You will be required to complete exit counseling (PDF) to learn more about your next steps and to select a loan repayment option as soon as you cease to be enrolled at least half-time.
Parent borrowers may contact the loan servicer to request a deferment while you (or your child) are enrolled at least half-time.
Interest will accrue on the loan during the deferment period. You will have the option to pay the accrued interest while enrolled, or capitalize when the deferment period ends.
Your loan servicer will notify you when your first payment is due.
Information is subject to change without notice due to changes in federal, state and/or institutional rules and regulations. Students must complete a FAFSA every year. Students must be making satisfactory academic progress to continue to receive financial aid.
University at Buffalo, South Campus
Buffalo, NY 14215