Federal Graduate PLUS Loan
The Graduate PLUS Loan, is credit-based, unlike the Unsubsidized Loan. This is a loan reserved for graduate students who have already borrowed the maximum amount of the Unsubsidized Loan.
The credit review process does not evaluate debt-to-income ratios or credit scores. To be approved, you cannot have an adverse credit history.
The current interest rate for PLUS loans is 8.05% fixed. The origination fee is 4.228% for loans disbursed after October 1, 2020 and prior to October 1, 2024
How To Apply
- The 2023-2024 Graduate PLUS loan application
- Federal Direct Graduate PLUS Master Promissory Note
- Entrance Counseling – First-time borrowers only. Students who have borrowed Federal Graduate PLUS Loans in prior years through the Direct Loan Program may have this requirement waived
Adverse Credit History Conditions
- Bankruptcy discharge within the past five years.
- Voluntary surrender of personal property to avoid repossession within the last five years.
- Repossession of collateral within the last five years.
- Foreclosure proceedings started.
- Foreclosure within the last five years.
- Conveying your real property that is subject to a mortgage (by deed) to your lender to avoid foreclosure (deed in lieu of foreclosure).
- Accounts currently 90 days or more delinquent.
- Unpaid collection accounts.
- Charge-offs/write-offs of federal student loans.
- Wage garnishment within the last five years.
- Defaulting on a loan, even if the claim has been paid.
- Lease or contract terminated by default.
- County/state/federal tax lien within the past five years.
Boston University Questrom School of Business
Rafik B. Hariri Building
595 Commonwealth Avenue
Boston, MA 02215
MBA CENTER
For Residential MBA Students:
CONTACT
mbacenter@bu.edu
617.353.7800
OFFICE HOURS
Fall & Spring
Appts: M-Th 9am – 6:30pm, F 9am – 5pm
Summer
M-T 9am – 5pm, W-Th 9am – 6:30pm, F 9am – 1pm
HAR 416
FOLLOW US
@questrom_MBA
@questrom_MBA
For OMBA students needing support, please contact ombasuccess@bu.edu.
SPECIALTY MS & PhD CENTER
CONTACT
qstmsphd@bu.edu
617.353.2673
OFFICE HOURS
M-F 9am – 5pm
HAR 402
FOLLOW US
@questromgrad
@questromgrad