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Direct Grad PLUS Loans are fixed-interest, federal loans available to eligible graduate students to assist with educational expenses. 

The Grad PLUS Loan program has been eliminated, effective July 1, 2026, and will not be available to new borrowers. Continuing students who meet specific criteria will qualify for the legacy exception, which will allow them to continue borrowing Grad Plus Loan funds for up to three academic years or the completion of their program, whichever is earlier. More eligibility requirements can be reviewed below. 

Eligibility

To qualify for the legacy exception, graduate and professional students must initially meet the following criteria:

• Were enrolled in an eligible program of study as of June 30, 2026. 
• Borrowed a Direct Loan for that program of study at the same school prior to July 1, 2026. 
• Continue to be enrolled in the same program of study at the same school. 
• Not have any break in your enrollment in that program at any time starting July 1, 2026. 

Students who qualify for the legacy exception must also meet the following criteria to be eligible to borrow a Grad Plus Loan:

• Have a valid FAFSA on file for the current academic year.
• Be enrolled in at least 6 credits for a graduate-level program for each term they borrow loan funds for. 
• Not have an adverse credit history and pass a simplified credit check by the Department of Education.

How to Apply

1. Complete the (UMB School Code: 002104).
2. Once the aid offer is available, accept loan amount through the Experience Student Portal
3. Fill out the . 
4. Complete
5. Complete the . Students who have accepted Grad PLUS loan funds must complete a new MPN each academic year. 

Students are not required to complete the Grad PLUS application online through Federal Student Aid. However, if you have placed a security freeze on your credit, you must lift or remove the freeze with all three credit bureaus before your loan can be processed. 

Loan Limits and Terms

The maximum amount a student may borrow in Grad PLUS loan funds each academic year is determined by their cost of attendance and the amount of other financial assistance they are expecting to receive.

There is no aggregate limit for the Grad PLUS loan.

Interest begins to accrue upon disbursement of the loan, and is calculated on a daily basis by your loan servicer. Origination fees also apply, meaning a portion of the loan amount is deducted upfront to cover administrative costs.

¹For loans disbursed on or after 7/1/2026 and before 6/30/2027.

Grad PLUS Credit Denial

Students who are denied the Grad PLUS Loan based on their credit will receive a email from the Department of Education notifying them of the decision. Some of the reasons for a denial include (but are not limited to): 

• Current delinquency of 90 days or more, including unpaid collection accounts and charge-offs.
• Default within the past five years or a defaulted loan that has been claim paid.
• Bankruptcy (Chapter 7, 11, and 12) within the past five years (Chapter 13 is acceptable).
• Discharge, foreclosure, foreclosure proceedings, deed in lieu of foreclosure, lease or contract termination by default, repossession, tax lien, wage garnishment, voluntary surrender, or write off of Title IV debt in the past five years.

Appeal Options

If you are denied, there are two options available to still borrow Grad PLUS loan funds:

The Department of Education allows borrowers whose credit was denied the opportunity to document either of the following situations: 

• Information showing that credit reporting used in the credit denial is incorrect and/or has been corrected.
• Extenuating circumstances exist relating to the adverse credit history. 

An endorser is someone who does not have an adverse credit history and agrees to repay the loan if the borrower does not repay it. The endorser must be 18 years of age or older and must be a U.S. Citizen or Permanent Resident. 

Students who opt to appeal the decision or obtain an endorser must also complete .