Loans » Graduate Plus Loan FFEL
FFEL Graduate PLUS Loan Process
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Please Review the Grad Plus instructions in your package folder.
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If you have selected a lender from the Loan Lender List please "Cick Here to Apply".
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Follow the steps to complete the pre-approval for the Graduate PLUS Loan.
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If you are approved you will be directed to complete the E-MPN (Electronic Master Promissory Note).
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Complete a Graduate PLUS Loan Counseling interview at http://mappingyourfuture.org/oslc/counseling/index.cfm?act=Intro&OslcTypeID=24 (Beginning July 1, 2008 all students are required to complete an entrance interview for a graduate Plus loan).
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.
