Federal Direct Grad PLUS Loan

The final date to accept any federal loan funding for Spring 2025 is May 9, 2025

The Federal Direct Grad PLUS Loan is not based on need and is available to graduate and professional students who are U.S. citizens or permanent residents and are enrolled at least half-time. This loan can be used to replace the Expected Family Contribution up to the cost of attendance to help meet any additional expenses that you cannot cover with the Federal Direct Loan. All Federal Direct PLUS loans are unsubsidized, meaning they begin to accrue interest immediately.

How to Apply

Follow these instructions on how to accept, modify, or decline any Graduate PLUS Loans you've been awarded as part of your financial aid package. 

Entrance Counseling

Loan counseling is a required online tool to help you understand your rights and responsibilities as a Direct Loan borrower. You must complete this requirement before you can receive your Direct Loan. In most cases, you will only need to complete entrance counseling once during your degree.

You can complete your entrance counseling requirement at www.studentaid.gov. Select your student population and log in with your FSA ID. Penn will be notified of your completion within 3-5 business days. 

Rates, Fees & Repayment

The interest rate for these loans is 9.08% for loans disbursed between July 1, 2024-June 30, 2025. Origination fees are currently 4.228%.

Repayment begins 6 months after the student has been withdrawn, graduated or drops below half time status. 

Federal Government Resources

For more information on this loan program, we recommend this FAQ from Federal Student Aid.

For information on a specific Federal Direct Grad PLUS Loan you have borrowed, log in the Federal Student Aid website using your FSA ID and password.