The University of Toledo

Federal Graduate/Professional PLUS Loans

The Federal PLUS (Parent Loan for Undergraduate Students) was previously available only to the parents of dependent undergraduate students.  Beginning July 1, 2006, that availability has expanded to Graduate/Professional students.

The GradPLUS loan is a guaranteed, federal unsubsidized loan. You may be required to pay a guarantee fee (1%) and an origination fee (3%). 

All unsubsidized loans begin to accrue interest at disbursement.  Currently, the interest on a GradPLUS loan is fixed at 8.5%, annually.  You have the option of paying this interest monthly as it accrues.

GradPLUS loans do not have a grace period.

GradPLUS loans qualify for a federal consolidation, after you graduate, along with other federal student loans (i.e. Perkins, Stafford, etc.).  Federal Consolidation Loans have a fixed interest rate.  The fixed interest rate is determined by taking the weighted average of the loans being consolidated rounded up to the nearest eighth of a percent or 8.25%, whichever is less.

Eligibility for a GradPLUS loan will require no adverse credit history.