Graduate PLUS Loan

This is a federally funded, non-need based loan for graduate students only. An additional application is required.


  • Federally funded.
  • Non need-based.
  • Graduate student is the borrower.
  • The fixed interest rate for loans in the deferment or six month grace period is as follows:

    Disbursement Date Undergraduate % Graduate %
    July 1, 2018 - June 30, 2019 - 7.6%
    July 1, 2017 - June 30, 2018 - 7%
    July 1, 2016 - June 30, 2017 - 6.31%
    July 1, 2015 - June 30, 2016 - 6.84%
    July 1, 2014 - June 30, 2015 - 7.21%
    July 1, 2013 - June 30, 2014 - 6.41%
    July 1, 2012 - June 30, 2013 - 7.9%
    July 1, 2006 - June 30, 2012 - 7.9%
  • Effective July 1, 2013: Interest rates are adjusted yearly based on the 10-year U.S. Treasury note index rate. The interest rate cap for Graduate PLUS loans is 10.5%.
  • Loan Origination Fees: 2018-19: 4.248%, 2017-18: 4.264%, 2016-17: 4.276%, 2015-16: 4.272%; no interest rate rebate.
  • Awarded by WMU as Federal Graduate PLUS on award notice.
  • Awarded up to cost of attendance minus other financial aid received.
  • This is a loan you are responsible to repay to the U.S. Department of Education.
  • Complete the student financial aid adjustment form if you wish to cancel or reduce a loan that has not been disbursed to your WMU account. If the loan has already disbursed, you must complete the student financial aid adjustment form within 30 days of the date of disbursement. Please note that canceling or reducing a disbursed loan may result in a balance due on your WMU account.
  • After you have accepted your Federal Graduate PLUS, you will receive a Federal Loan Disclosure Statement from the Direct Loan Servicing Center.
  • The Disclosure Statement identifies anticipated disbursement dates, gross and net disbursement amounts and loan fee amounts for all your Graduate PLUS loans for the academic year.


  • Graduate students only.
  • Independent student.
  • Must be enrolled at least half-time. Award will be canceled if enrolled less than half-time. 
  • Completed Federal Graduate PLUS loan application.
  • Completed Federal Graduate PLUS Master Promissory Note required for first-time borrowers.
  • First-time borrowers must complete online loan entrance counseling.
  • Graduate student borrower must meet credit worthiness standards. If denied credit, the student will be notified by the Direct Loan Servicing Center.
  • Borrower may appeal extenuating circumstances or obtain an endorser. See Federal Graduate PLUS loan information sheet on the Federal Graduate PLUS application for details.
  • Award eligibility based upon estimated family contribution, cost of attendance, enrollment and other resources.
  • Award may be adjusted or canceled if there is a change to estimated family contribution, cost of attendance, enrollment or additional resources.
  • Must be making satisfactory academic progress.


  • Interest begins accruing upon disbursement.
  • Repayment of principal and interest begins 60 days after loan is fully disbursed.
  • Payments will be made to the U.S. Department of Education.
  • Payments will automatically be deferred if you are enrolled at least half-time.
  • For detailed information about repayment and loan consolidation, go to
  • The interest rate for a consolidation loan is the weighted average of the interest rates on the loans being consolidated and is fixed for the life of the loan.
  • It is important that you maintain all important files and keep copies of your award notices, Master Promissory Note, Borrower's Rights and Responsibilities and the Loan Disclosure Statement in one place as they provide the details of your loans, and your rights and responsibilities as a student loan borrower.