Graduate PLUS Loan Repayment
Repayment Terms
Loan repayment is deferred in this loan program as long as the student remains enrolled at least half time (8 credits for Undergraduates and 4 credits for Graduates), but interest does accrue. Once in repayment you have options for your repayment terms:
- Standard Payment Plan - You pay the same amount each month for up to 10 years towards the principal and interest of the loan. The minimum payment amount is at least $50 per month.
- Graduated Payment Plan - You begin repaying your loan with a lower payment, then, after 2 years the payment amount increases. The minimum payment amount is at least $50 per month.
- Income-Sensitive Payment Plan - You may repay your loan based on your gross monthly income. You must show income documentation annually and additional documentation may be required.
- Extended Payment Plan - You may take up to 25 years to repay your loan if you received your first loan after October 7, 1998 and your combined loans total $30,000 or more.
Note: Grad PLUS loans can be consolidated into a Federal Consolidation loan along with your other federal student loans.
