Student Financial ServicesStudent Financial Services

Graduate PLUS Loan

Graduate students may pursue funding through the Graduate PLUS Loan program.  Students may borrow a PLUS Loan for any year that they are enrolled at least half-time.  The interest rate is fixed at 8.5%.  Fees of 3% are subtracted from each disbursement to cover the loan origination fee required for these federal loans.

How much PLUS Loan can I borrow?
The Graduate PLUS Loan program allows students to borrow up to the the cost of attendance, less any other financial aid already awarded.  Cost of attendance includes the total cost of tuition, fees, and room and board billed by the University, plus a standard calculation for books, supplies, transportation, and personal expenses.

For assistance in determining your eligibility, contact the Student Financial Services office.

Note: Your Initial Payment Worksheet breaks the charges billed by the University down by each semester.  Since you need to request the amount of your PLUS Loan for the full year, please multiply the amount needed for one semester by two and add the 3% deducted for the lender fees. 

Compare loan options
The University of Puget Sound has partnered with Simple Tuition to provide comprehensive loan information for students.  This free online loan comparison tool will help you compare loan options from multiple lenders, customized for Puget Sound.  You can sort results by interest rate, monthly payment, total cost of loan, first payment due date, and more.

How do I apply for a PLUS Loan?

  1. You must apply annually for the full amount needed for the academic year, plus the 3% lender fee. 
  2. You will begin the loan process by completing the online Graduate PLUS Confirmation Form.  You will be asked for information about the loan amount you wish to borrow, in addition to instructions about how you want the funds disbursed.
  3. When you have completed the confirmation form, you will be linked to the Sallie Mae OpenNet site for the actual loan application. 

Repayment of the PLUS Loan
Some students make interest-only payments while enrolled and delay repaying the principal until they graduate.  Other students make equal payments over the life of the loan.  Most students will repay PLUS Loans over 10 years.