This is a low-interest loan for graduate and professional students. The Graduate PLUS Loan can help pay for education expenses not covered by other financial aid. The U.S. Department of Education makes Direct PLUS Loans to eligible graduate or professional students through schools participating in the Direct Loan Program.
Amount
The maximum Grad PLUS loan amount a student can borrow is the cost of attendance at UNT Dallas minus any other financial assistance they receive. The cost of attendance is determined by UNT Dallas.
Eligibility
- The FAFSA must be completed for Federal Direct Grad PLUS eligibility to be determined.
- Be a graduate or professional student enrolled at least half-time at an eligible school in a program leading to a graduate or professional degree or certificate.
IMPORTANT NOTE: The U.S. Department of Education conducts a credit check to establish eligibility. You cannot have an adverse credit history.
Disbursement and Payment
Loan funds will not be disbursed (pay) until all requested documentation, including Entrance Counseling and the Master Promissory Note (MPN) has been submitted, your FAFSA information reviewed and then your aid package will be considered completed and awarded.
A note will be placed on your myUNTD "To Do List" if additional steps are required before disbursement. If the financial aid file is complete, disbursements can be made as early as ten days prior to the first day of a Fall or Spring fee payment (August/January) period. However, disbursements can also occur throughout an enrollment term upon completion of a file.
Repayment
You will receive an automatic deferment while you are enrolled in school at least half time, and for an additional six months after you graduate, leave school, or drop below half-time enrollment. You do not have to start making payments until after this deferment period ends.
During periods of deferment, interest will accrue on your loan. You may choose to pay the accrued interest or allow the interest to be capitalized (added to your loan principal balance) when you have to start making payments. Your loan servicer will notify you when your first payment is due.
The Project on Student Debt works to increase public understanding of rising student debt. This initiative has compiled the top 10 tips for keeping your student loans under control. The tips can be reviewed here.
For more information regarding repayment, please visit Direct Loan Repayment Plans. For information regarding deferment or forbearance please visit Direct Loan Deferment and Forbearance.
Repayment Length
Between 10 and 30 years to repay, depending on the amount owed and repayment plan selected.
Additional Information
- If the loan is credit approved, borrowers must electronically sign a Federal Direct Loan Grad PLUS MPN.
- Graduate PLUS borrowers at UNT Dallas are required to complete Loan Entrance Counseling. Per federal regulations, Graduate PLUS borrowers must complete this Counseling even if they have completed it in the past. It is UNT Dallas' goal is to ensure that each borrower understands how to manage their student loan and the commitment that comes with the acceptance of a student loan. It is imperative that borrowers realize that student loans are not grants or scholarships; they require repayment. You must complete Entrance Loan Counseling before UNT Dallas can disburse your loan funds to your account.
- The U.S. Department of Education charges an origination fee of the total amount borrowed per loan. This fee is deducted from the loan by the U.S. Department of Education before the proceeds are credited to a student's account. Visit Federal Student Aid for more information.
- Each Federal Direct Grad Loan borrower at UNT Dallas is required to complete Student Loan Exit Counseling shortly before completing a degree, leaving UNT Dallas (i.e., withdrawing, graduation) or ceasing half-time enrollment.