Federal Graduate Loan (PLUS)


The Federal Direct Grad PLUS Loan is a fixed rate student loan guaranteed by the U.S. Government. Graduate students are eligible for this loan in addition to a Federal Unsubsidized Direct Loan up to the cost of attendance. This is a credit based loan.


The Graduate Student is the borrower and must be enrolled at least half-time in a graduate-level program.

Borrower must be a US Citizen.

Borrower cannot be 90 days or more delinquent on the repayment of any debt or the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of a Title IV debt during the last five years.

This is a non-need-based loan. Students may borrow up to the cost of attendance minus other financial assistance.


There is an origination fee of 4.228% for loans disbursed October 1, 2020 through September 30, 2021. When calculating your out-of-pocket, add on the fee to what you will need to borrow as that will be deducted from each Federal Direct Grad PLUS Loan disbursement. 

Interest Rate

The interest rate for 2020-21 on the Federal Graduate PLUS Student Loan is fixed at 5.30% when disbursed July 1, 2020 through June 30, 2021. Payments may be paid periodically or the interest will be capitalized.


A Federal Direct Grad PLUS Loan enters repayment once the loan is fully disbursed. However, a Federal Grad PLUS loan will be placed into deferment while students are enrolled at least half-time and for an additional six months after they cease to be enrolled at least half-time. Half-time status in the graduate programs at BVU is 3 credit hours in a semester.

To Apply

Go to studentaid.gov and complete the online application, Direct Loan Entrance Counseling, and the Master Promissory Note.


Borrowers must complete the Free Application for Federal Student Aid (FAFSA).

Exit Counseling is required when students graduate or drop below half-time.


The FSA ID - a username and password - has replaced the Federal Student Aid PIN and must be used to log in to certain U.S. Department of Education websites.  Your FSA ID confirms your identity when you access your financial aid information and electronically sign Federal Student Aid documents.  If you do not already have an FSA ID, you can create one when logging in to FAFSA.gov, The National Student Loan Data System, studentaid.gov, and Agreement to Serve (ATS).