Graduate Plus Loan Programs

There are 3 steps to applying for the Graduate PLUS Loan:
If you are applying for a Graduate PLUS Loan for the first time at Sacred Heart University, you will need to complete all 3 steps.
Before you begin you will need your FAFSA PIN* issued by the U. S. Department of Education and the name, address and phone numbers of two adult references (living in the United States) with different addresses. *If you have lost or forgotten your FAFSA PIN, visit
*Attention MAC users, you must use "Internet Explorer" or "Firefox" as your browser in order to complete your Master Promissory Note and Loan Entrance Interview. "Safari" is not compatible with the Dept. of Education's website.*

STEP 2: Complete your PLUS Loan Entrance Interview online Per Federal Regulations, all Plus borrowers must complete a Grad Plus Loan Entrance Interview before the loan can be certified. Click on the link below and follow the instructions for the Graduate Plus Entrance Interview.

Step 3: Complete your 2014-2015 Graduate PLUS Loan Certification ‌To finalize the loan process you must complete and return the loan certification to the Office of Student Financial Assistance. You may download and print this document using the link above.
Budget Control Act of 2011 eliminates the Federal Direct Loan subsidy, effective July 1, 2012
The Budget Control Act of 2011, signed into law on Aug. 2, 2011, eliminates the Federal Direct Loan subsidy for graduate and professional students effective July 1, 2012. As a result, summer 2012 is the last term that graduate and professional students may be eligible to receive Federal Direct Subsidized loans, although they will continue to be able to receive unsubsidized loans.

The Act also eliminates the upfront rebate for all Federal Direct Loans. Starting July 1, 2012, Federal Direct Unsubsidized loan disbursements will have a 1.072% origination fee, and Federal Direct PLUS loans will have a 4.288% origination fee applied at disbursement.

The Graduate PLUS Loan is for graduate and professional students who need assistance financing an education that is not covered by other forms of financial aid. It's an affordable alternative to using savings, income, or private loans for educational costs. Graduate PLUS Loans are available to credit worthy, U.S. citizens or eligible non-citizens. To process a loan you must submit the Free Application for Federal Student Aid (FAFSA) and initially apply for a Stafford loan. The amount you will be eligible to borrow will be determined by the total cost of your educational program less the amount you receive from the Stafford loan and other financial aid.

When you apply for a Federal Direct Grad PLUS Loan, the U. S. Department of Education will check your credit history. To be eligible for a Grad PLUS Loan, you must not have an adverse credit history. If you are found to have an adverse credit history, you may still borrow a Grad PLUS Loan if you get an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct Grad PLUS Loan if you do not repay the loan. The endorser may not be the student on whose behalf a parent obtains a Direct PLUS Loan. In some cases, you may also be able to obtain a Grad PLUS Loan if you document to our satisfaction that there are extenuating circumstances related to your adverse credit history.

As of July 1, 2010 the federal government has eliminated the Federal Family Education Loan (FFEL) program. All student and parent loans will be originated through the federal government's Federal Direct Loan program. Students who have previously borrowed through a lender under the FFEL program will need to sign a new Master Promissory Note (MPN)with the federal government in the Direct Loan program for all loans disbursed after July 1, 2010.

The Federal Direct Grad Plus Loan Program requires a 4.288% origination fee. The U. S. Department of Education deducts the fees before you receive any loan money, so the loan amount you actually receive will be less than the amount you have to repay.

To find out more information on interest rates for Direct PLUS Loans, contact the Direct Loan Servicing Center at 800-557-7394.

**Attention Graduate Students**
Per Federal regulations, You MUST be enrolled/registered for at least 3 credits per term/semester in order for your Federal Stafford Loan or your Federal Grad Plus loan to disburse. Please remember that when you complete your Confidential Information form you will be indicating which terms/semesters you will be taking courses. Your loan disbursements will be divided by the terms you state on the form. Each of the terms/semesters you will be taking courses, you must maintain at least Half Time enrollment or at least 3 credits in order for your loan disbursements to be in compliance with Federal Regulations. This includes the Late Spring/Summer semesters. If you fail to maintain at least half time enrollment your loan disbursements will be canceled.