Graduate and Professional Student Loans
The U.S. Department of Education offers low-interest loans to eligible students to help cover the cost of education.
What types of Federal Direct loans are available for Graduate/Professional students?
Click or enter to reveal information below Click or enter to hide information belowUnder the William D. Ford Federal Loan (Direct Loan) Program, the U.S. Department of Education offers two types of loans to eligible Graduate, degree-seeking students.
- Direct Unsubsidized Loans are available to Graduate and Professional students; there is no requirement to demonstrate financial need. You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.
- Direct PLUS Loans are available to Graduate or Professional students. Like the Direct Unsubsidized Loan, there is no requirement to demonstrate financial need. This loan is credit-based.
Am I eligible for a Federal Direct Unsubsidized Loan or a Federal Direct PLUS Loan?
Click or enter to reveal information below Click or enter to hide information belowIn general, the requirements for you to receive a Federal Direct Loan include:
- Be enrolled at least half-time. Normally, 5 units of graduate level coursework is considered half-time.
- Be a degree-seeking Graduate or Professional student.
Learn more about the general eligibility requirements to receive federal student aid
Can I be denied the PLUS loan for adverse credit?
Click or enter to reveal information below Click or enter to hide information belowYes. One of the eligibility requirements to receive a Direct PLUS Loan is that the applicant must not have an adverse credit history. A credit check is performed to determine whether a Direct PLUS Loan applicant meets this requirement. Below are answers to common questions about adverse credit and Direct PLUS Loans
For purposes of qualifying for a Direct PLUS Loan, you’re considered to have an adverse credit history if
- you have one or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off (written off) during the two years preceding the date of the credit report; or
- during the five years preceding the date of the credit report, you have been subject to a
- default determination,
- discharge of debts in bankruptcy,
- foreclosure,
- repossession,
- tax lien,
- wage garnishment, or
- write-off of a federal student aid debt
See Department of Education document: https://studentaid.ed.gov/sa/sites/default/files/plus-adverse-credit.pdf
What are the Interest Rates and Fees for the Federal Direct Unsubsidized Loans?
Click or enter to reveal information below Click or enter to hide information belowFederal Direct Unsubsidized Loan
Interest Rates and Origination Fees for loans first disbursed between July 1, 2020 and July 1, 2021
|
Interest Rates |
|
|---|---|
|
Fixed Interest Rate for Unsubsidized Loan |
4.30% |
|
Lifetime Interest Rate Cap |
8.25% |
|
Origination Fee |
|
|
Loans first disbursed on or after October 1, 2019 and before October 1, 2020 |
1.059% |
|
Loans first disbursed on or after October 1, 2020 and before October 1, 2021 |
1.062% |
Federal Direct Graduate PLUS Loan
Interest Rates and Origination Fees for loans first disbursed between July 1, 2020 and July 1, 2021
|
Interest Rates |
|
|---|---|
|
Fixed Interest Rate for Graduate PLUS Loan |
5.30% |
|
Lifetime Interest Rate Cap |
10.50% |
|
Origination Fee |
|
|
Loans first disbursed on or after October 1, 2019 and before October 1, 2020 |
4.236% |
|
Loans first disbursed on or after October 1, 2020 and before October 1, 2021 |
4.228% |
Rates and fees determined by the U.S. Department of Education
Understand how interest is calculated and what fees are associated with your federal student loan here!
How much can I borrow?
Click or enter to reveal information below Click or enter to hide information belowYour school determines the loan type(s), if any, and the actual loan amount you are eligible to receive each academic year (i.e., at the University of Arizona an academic year consists of the Fall, Spring and Summer terms). There are limits on the amount in loans you may be eligible to receive which is referred to as your annual loan limit and your aggregate loan limit. These limits vary depending on your career in school.
Learn more Annual and Aggregate Loan Limits
Deciding how much to borrow and Repayment Estimator
Click or enter to reveal information below Click or enter to hide information belowBefore you take out a loan, it’s important to understand that a loan is a legal obligation that you will be responsible for repaying with interest. You may not have to begin repaying your federal student loans right away, but you don’t have to wait to understand your responsibilities as a borrower.
Before you borrow or enter repayment, you can use the Department of Education's Repayment Estimator to get an early look at which repayment plans you may be eligible for and see estimates for how much you would pay monthly and overall.
Loan acceptance and other important deadlines
Click or enter to reveal information below Click or enter to hide information belowIn general, loans can begin to be accepted in mid-July for the following academic year (fall and spring semester) and must be accepted by the last day of the semester in which you attend.
A student is no longer eligible for loan funds if they cease attendance or their enrollment becomes less than halftime and the loans were not accepted before the change in enrollment.
How do I increase or reduce the loan I already accepted?
Click or enter to reveal information below Click or enter to hide information belowRequesting Additional Federal Direct Loan Funds
To request that additional Direct Loan funds be offered, you must contact our office via the Ask Aid portal or call 520-621-1858.
Requesting Cancelation of Your Federal Direct Loan(s)
A written request (fax: 520.621.9473, email: via the Ask Aid portal) is required to reduce or cancel a Federal Direct Loan. If the funds have already disbursed to your Bursar billing account, you will be required to return the disbursed funds before the loan will be canceled. Any account balance created as a result of the reduction or cancelation of a disbursed loan must be repaid immediately.
Your consent is not required if the University of Arizona (UA) must cancel or reduce your loans to remain in compliance with Federal regulations. Regardless of the type of cancelation, any account balance created as a result of the reduction or cancelation of a disbursed loan must be repaid by the student immediately.
When will Graduate students be awarded with Federal Direct Loans for the academic year?
Click or enter to reveal information below Click or enter to hide information belowOSFA will begin offering Graduate students with Federal Direct Loans in early July. Review instructions for how to apply for aid here.
I was not offered the Federal Graduate PLUS Loan, how do I request to be offered this loan?
Click or enter to reveal information below Click or enter to hide information belowYou may request to be offered the Federal Graduate PLUS Loan by contacting the Office of Scholarships and Financial Aid office. Your request will be reviewed and if you are offered the loan, you must follow instructions listed here to accept and apply for the loan as the loan does require a credit-check.