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Grad PLUS Loans

Beginning on July 1, 2006, graduate students may borrow under the Federal Direct PLUS Loan program.

Students pursuing their master's at Linfield University may choose a Federal Direct PLUS Loan to cover educational costs after they have exhausted their Federal Direct Unsubsidized Loan eligibility.

Be aware that Direct PLUS loans are credit-qualified loans. Not all students will meet the credit qualifications to borrow under these programs. Loan funds must be repaid with interest. Be sure you understand your options and responsibilities.

  • Students must be U.S. citizens or eligible noncitizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant and must meet other general eligibility requirements for the Federal Student Aid programs.
  • The student must file a Free Application for Federal Student Aid (FAFSA).
  • The student borrower must apply for the Grad PLUS Loan at

Linfield will be notified if the loan is approved or declined. If the loan is approved the student borrower must complete the Grad PLUS Loan master promissory note at

Linfield disburses the loan funds at the beginning of each semester for eligible loans.

Interest rate information

The Grad PLUS loan interest rate is a “variable-fixed” rate which is set annually on July 1 and fixed for the life of that loan. Rates are based on the first disbursement date as follows:

  • On or after July 1, 2019, but before July 1, 2020: 7.08%
  • On or after July 1, 2021, but before July 1, 2022: 6.28%

Repayment information

Repayment normally begins within 45-60 days of the final disbursement of the Grad Plus Loan for each loan made. Borrowers may need to request an in-school deferment, so payments are not required while in school. Borrowers may also need to request a deferment or forbearance for a period after graduation if they are not able to immediately begin repayment on their loan.

Payment may also be deferred if the borrower is unemployed or in a situation of demonstrable economic hardship. Contact the lender for additional information on deferments. During a deferment, interest continues to accrue on the loan and may be capitalized (added to the principal of the loan).

Federal Direct PLUS Loan borrowers enter repayment at the time the loan is fully disbursed unless in-school deferment is granted. The lender must notify the borrower of the terms and conditions for repayment of the loan before repayment is scheduled to begin. The standard repayment plan is 10-years (120 payments) and the minimum monthly payment is $50. A borrower is allowed at least five years (unless the minimum required payment will retire the debt in less time). A borrower may prepay their loan in full or in part at any time, without penalty and without liability for unearned interest.

Alternative repayment plans and deferment or forbearance options are available on all federal student loans, including the Direct PLUS Loan for borrowers who meet the criteria and request their servicer(s) change the repayment plan. Detailed information can be found on the “Repay Your Loans” section of the Department of Education website.

Graduate Direct Unsubsidized Loans

A graduate or professional student can borrow up to $20,500 each year in Direct Unsubsidized Loans. Direct PLUS Loans can also be used for the remainder of your college costs, as determined by your school, not covered by other financial aid. Students who borrow under this loan program are responsible for all interest accrued during periods of enrollment, their grace period and through repayment.

Students can choose to pay the interest while in school, during grace periods and deferment or forbearance periods, or students can allow the interest to accrue and be capitalized (that is, added to the principal amount of the loan). If students choose not to pay the interest as it accrues, this will increase the total amount they have to repay because they will be charged interest on a higher principal amount.

A Free Application for Federal Student Aid (FAFSA®) is required annually to determine a student’s eligibility. The student must file a FAFSA at and must:

  • Be a U.S. citizen or eligible noncitizen
  • Not be in default on any federal education loans or owe an overpayment on a federal education grant
  • Meet other general eligibility requirements for the Federal Student Aid programs

Students must be attending at least half-time (3 credits) to be eligible. New borrowers are required to complete Federal Stafford Loan Entrance Counseling and the Stafford Loan Master Promissory Note at before disbursement.

Interest rates

The interest rate for unsubsidized loans for graduate students first disbursed:

  • After July 1, 2020: fixed at 4.30%
  • After July 1, 2021: fixed at 5.28%

Origination fee

The origination fee for loans first disbursed:

  • After October 1, 2020, is 1.057%
  • After October 1, 2021, is 1.057%

Interest rates and origination fees are subject to change. Use our loan fee calculator to help determine your origination fees when figuring loan amounts.

Lifetime aggregate limits

Graduate or Professional Student: $138,500 (up to $65,500 can be subsidized). Aggregate loan limits for graduate students include loans received for undergraduate course work.