Santa Clara University

Federal Direct Graduate PLUS Loan

All federal loans are processed through William D. Ford Federal Direct Loan program. Federal Direct Graduate PLUS Loan borrowers will apply for and obtain loan funds directly from the U.S. Department of Education.

Who May Apply
Graduate students that are enrolled at least half-time in a degree-seeking program are eligible to apply for a Federal Direct Graduate PLUS Loan. Students enrolled in certificate, non degree or credential programs do not qualify for the Federal Direct Graduate PLUS Loan.

Interest Rates
  • 2015-2016: 6.84% variable-fixed interest rate, capped at 10.5%

NOTE: There is no grace period for a Federal Direct Graduate PLUS Loan. Interest begins to accrue immediately after the first disbursement of the Federal Direct Graduate PLUS Loan. Repayment of both principal and interest begins within 60 days after the final disbursement of the loan. The Federal Direct Loan program offers deferment and forbearance options. Federal Direct Graduate PLUS loan borrowers can contact the Direct Loan Servicing Center at 1-800-848-0979 for information on delaying repayment.

Maximum Amount
Student borrowers may borrow up to the cost of attendance minus other financial aid that has been awarded.

  • 4.272% origination fee

NOTE: With the passage of the Budget Control Act, the Federal Direct Loan for which the first disbursement is made on or after October 1, 2015 and before October 1, 2016, the origination fee is 4.272%.

Enrollment Requirements
Students must be continuously enrolled half-time or more in a degree-seeking program to receive the loan. If the student drops below half-time at any time during the loan period, s/he will not be eligible for the loan proceeds.

Disbursement of Loan Proceeds
Upon approval, the U.S. Department of Education will send the Federal Direct Graduate PLUS Loan funds directly to Santa Clara University through the Electronic Funds Transfer (EFT) process. The funds will be credited to the student's account. All loans are issued in one disbursement per quarter beginning in the fall. The second disbursement will arrive at the beginning of the winter quarter for an academic year loan and the final disbursement will arrive at the beginning of the spring quarter.

How To Apply for a Federal Direct Graduate PLUS Loan

  1. Complete the Free Application for Federal Student Aid (FAFSA).
  2. Complete the Federal Graduate Direct PLUS Loan Application, Master Promissory Note (MPN) and entrance counseling tutorial online at
  3. A FSA ID is required to apply for the Federal Graduate Direct PLUS Loan online. If you have already completed the FAFSA, you already have a FSA ID and you must use this FSA ID to apply for the loan. Do not apply for a new FSA ID.

You will receive the results of your credit check immediately during the application process online. If you are denied a Federal Direct Graduate PLUS Loan due to credit issues, you have the following options:

  • You may be approved with an endorser (co-signer)
  • You may appeal the credit decision directly with the Direct Loan Department online at or by calling 1-800-557-7394.

Loan Periods
When applying for a Federal Graduate PLUS Loan, use the chart below as a reference for loan period start and end dates.

Academic Year 2015-2016

Full Academic Aid Year Loan (Fall 2015, Winter 2016 & Spring 2016) September 2015 to June 2016
Fall Only Loan (Fall 2015) September 2015 to December 2015
Winter Only Loan (Winter 2016) January 2016 to March 2016
Spring Only Loan (Spring 2016) April 2016 to June 2016
Summer Loan (Summer 2016) June 2016 to August 2016
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