Federal Stafford Loan
Direct
Graduate PLUS Loans are available to graduate and professional students
enrolled at least half-time in an eligible degree or certificate program to pay
for their educational costs. Borrowers must file a FAFSA to be considered for
this loan.
The
University of Colorado Denver recently made the decision to move the Anschutz
Medical Campus into the Direct Loan Program for the 2008-09 school year. Click
here to view a
list of questions and answers related to the Direct Loan Program that should
help families understand how this program will serve their student.
For information about federal student aid from the U.S. Department
of Education, visit www.studentaid.ed.gov. Your Master Promissory Note
will also include the terms and conditions of the loan.
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Direct Graduate
PLUS Loan
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Benefits and Features
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Eligibility
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- Fixed
interest rate
- Direct Loans are not sold
- Direct PLUS Loans can be consolidated with other federal
loans
- Borrowers
have a single contact for everything from application to repayment
- Flexible
repayment options
- Payments
are deferred while you’re in school
- There
are no pre-payment penalties
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- Must
be enrolled at least half-time in an eligible undergraduate, graduate or
professional degree or certificate program.
- Cannot
be in default on any federal student loan or owe a refund on a federal
student grant.
- Must
have a valid social security number
- Must
be a U.S. citizen or eligible non-citizen.
- Must
be registered with the Selective Service if required.
- Continuing
students must meet satisfactory academic progress standards.
- A
credit check is required for PLUS Loans. Borrowers cannot have a
negative credit history. However, you may be able to apply with an
eligible
co-signer.
Please note that this credit check is valid for 90
days only. Any PLUS loans applied for after the 90 days will be
subject to an additional credit check
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Other Important
Information
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- The
Direct Graduate PLUS Loan does not have a grace period. However,
students are eligible for an in-school deferment that allows you to
postpone payments until you graduate or drop below half-time
enrollment. In most cases, this will be an automatic process for
students at UCD. Your first payment will be due 45 days after the
deferment end date.
- Interest
on Direct Graduate PLUS Loans will start accruing at the time of each
disbursement.
- The
U.S. Department of Education charges a loan fee of 4% that will be
deducted proportionately from each disbursement of your Direct Graduate
PLUS Loan. However, Direct PLUS Loan borrowers receive an up-front
interest rebate of 1.5%.
- There
are no annual or aggregate borrowing limits for Direct PLUS Loans. You
may borrow up to your cost
of attendance minus any other financial aid you receive.
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