Federal Grad PLUS Loan

The Federal Grad PLUS Loan allows graduate and professional students to pay for additional educational expenses, not covered by financial aid.

AHELA offers the following borrower benefits on GradPLUS Loans:

• 0.50% Interest rate reduction upon entering repayment and continuing as long as the borrower continues to make on-time payments.
• 0.50% Interest rate reduction for enrolling in automatic payments through your savings or checking account.

Eligibility

When applying for a Federal Grad PLUS Loan you must be the graduate or professional student enrolled in a qualified program. You should have submitted a Free Application for Federal Student Aid (FAFSA) and obtained any Stafford loans for which you qualified. In addition, you must be a U.S. citizen or permanent resident and pass a credit check.

The Federal Grad PLUS loan has a fixed interest rate of 8.5% for all loans first disbursed on or after July 1st, 2006. AHELA’s interest rate deductions for on-time payments and automatic payments will reduce your interest rate to 7.50%.

Once you have completed your application, your financial aid office will determine your scheduled disbursements for the academic year. AHELA will disburse your check to the school, who will apply the funds to your tuition bill. Any remaining funds will be disbursed to you.

If you are unable to complete your loan application electronically, you may download a paper application to complete and mail.

For information regarding repayment options click here.