Federal GRAD Plus Loans
Changes to the Graduate PLUS Loan Program
The federal Graduate PLUS Loan program is ending. Beginning July 1, 2026, students will no longer be able to borrow new Graduate PLUS Loans.
What Does This Mean?
- For current borrowers: Students with a Grad PLUS loan disbursement before July 1, 2026, may continue to borrow until June 30, 2029, or the end of their program.
- For new students: Graduate PLUS Loans are no longer available. You can still borrow Federal Direct Unsubsidized Loans up to the annual and lifetime limits. After that, you may want to explore other resources such as employer tuition benefits or private loans.
If you have questions about how this affects your financial plan, please contact the financial aid office at finaid@bw.edu. We're here to help you review your options and make a plan to finance your graduate education.
Federal Grad PLUS loans are available to help graduate/professional students finance any remaining educational costs not covered by other forms of student financial aid. The Grad PLUS is similar to the Parent PLUS program, as the terms and conditions include:
- A determination that the applicant does not have an adverse credit history.
- Repayment beginning on the date of the last disbursement of the loan.
- A fixed interest rate, determined on an annual basis from the Department of Education.
- An origination fee, from the Department of Education, that deducts a percentage of the loan amount each time a disbursement is made.
A significant difference between the Grad PLUS and Parent PLUS program is that the student is the borrower of a Federal Grad PLUS loan. The parent is not eligible to borrow this loan on their student's behalf at the graduate course level.
HOW TO APPLY
Graduate PLUS borrowers can apply for PLUS Loans for the upcoming year after mid-April.
- File the required Free Application for Federal Student Aid (FAFSA) online. You will need your FSA ID to complete this process.
- Download and complete the enrollment worksheet for independent students on the financial aid forms page and email it to finaid@bw.edu.
- Determine the amount of PLUS loan needed to cover the cost of tuition and living expenses.
- Apply for the Grad PLUS loan:
- Visit the FSA website.
- Click on the "log in" button.
- Sign in with your FSA ID.
- Follow instructions to submit the application.
- Complete the entrance counseling requirement as a graduate student:
- Complete entrance counseling here.
- Click on the "log in" button.
- Sign in with your FSA ID.
- Click on "complete counseling" and follow the instructions.
- Complete the Master Promissory Note (MPN) for a PLUS loan, if approved:
- Visit the FSA website.
- Click on the "log in" button.
- Sign in with your FSA ID.
- Follow instructions to submit the MPN.
- The Department of Education will transmit loan application information to BW.
- BW will finalize the loan through the Department of Education.
Federal Direct Grad PLUS Change Request Form
The Federal Direct Grad PLUS change request form should only be used to submit Federal Direct PLUS Loan change requests. When changing the amount of your Federal Direct PLUS Loan, please keep the following in mind:
- Maximum annual loan limit
- Cost of education less any other financial aid received by the student.
- Borrowers are encouraged to budget their costs for the entire academic year when determining the amount of PLUS loan needed.
- Fees
- There is a loan origination fee from the Department of Education.
MORE INFORMATION
Federal Direct Graduate/Professional PLUS loans from the Department of Education - Detailed information on the loan program.
Federal loan consolidation - Information for Graduate/Professional PLUS borrowers who have PLUS loans with different lenders/servicers and wish to combine their PLUS loans into one new consolidation loan.
Federal ID Code
BW's Federal ID Code: 003014