Loans » Graduate Plus Loan Direct
Direct Graduate PLUS Loan Process
- If you are borrowing from the Direct Graduate Plus for:
All sections of this application need to be completed! Once completed, please fax or mail the form
directly to us for processing.
2. All Direct PLUS loan borrowers must complete an electronic Master Promissory Note (e-MPN).
To complete your e-MPN, please click https://dlenote.ed.gov/empn/index.jsp.
Once you have completed the steps above, TC will receive a request to certify your loan.
NOTE: You must complete your FAFSA and you must receive an award letter before you can apply.
This federal loan program is available to graduate and professional students who are enrolled at least half time to help meet the costs related to funding your education. Graduate PLUS loans offer a fixed interest rate of 7.90% for Direct Loans and 8.50% FFELP Loans for 2008-09 academic year.
Unlike the Federal Stafford loan, the Federal PLUS loan requires a credit check. To be eligible to borrow the PLUS loan, your parent’s credit report cannot reflect any of the following:
• Currently 90 days or more delinquent on repayment of any debt, not including mortgage payments or medical bills.
• Currently no more than 180 days delinquent on a mortgage payment on their primary residence or medical bills.
• Debt discharged in bankruptcy during the past five years
• Evidence of a default, foreclosure, tax lien, repossession, wage garnishment, or write-off of a Title IV debt during the past five years.
If you do not qualify for this loan based on the credit criteria outlined above, you may still receive the loan with an endorser, who will be subject to the same credit criteria.
Please contact the financial aid office 212-678-3714, if you have any questions regarding the process.
