Graduate Federal Direct Loans

The Unsubsidized LoanAn Unsubsidized Federal Direct Student Loan is made to a borrower meeting specific eligibility requirements, but not based on financial need (FAFSA). The borrower is responsible for paying all interest that accrues throughout the life of an unsubsidized loan. During in-school status, deferment, and forbearance periods, the borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized. is a federal student loan offered by the U.S. Department of Education to help eligible students cover the cost of higher education. The student borrowerThe borrower is the person legally responsible for repayment of a loan and who has signed the promissory note. must be a U.S. citizen or eligible noncitizen and be enrolled at least half-time in a degree program. Unlike the Graduate PLUS Loan or most private credit-based loans, a credit check is not required. More information, including maximum loan limits, can be on the Federal Student Aid website. Some students in medical programs qualify for higher than standard loan limits. If you would like to borrow an Unsubsidized LoanAn Unsubsidized Federal Direct Student Loan is made to a borrower meeting specific eligibility requirements, but not based on financial need (FAFSA). The borrower is responsible for paying all interest that accrues throughout the life of an unsubsidized loan. During in-school status, deferment, and forbearance periods, the borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized., you should submit the FAFSAThe Free Application for Federal Student Aid (FAFSA) is used to determine eligibility for state and federal grants, scholarships, and loans. The FAFSA can be completed on the Federal Student Aid website. The Boston University FAFSA school code is 002130. and Graduate Federal Direct Loan Request Form. First-time borrowers should also complete Entrance CounselingEntrance Counseling is a Federal Direct Loan requirement that ensures the borrower understands the terms and conditions of their loan and their rights and responsibilities. Federal loans cannot disburse until the borrower has completed it. The borrower can complete Entrance Counseling on the Federal Student Aid website. and a Master Promissory NoteThe Master Promissory Note (MPN) is a legal document in which the borrower promises to repay their loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of the loan(s). The Master Promissory Note can be completed on the Federal Student Aid website..

The Graduate PLUS Loan is a federal student loan offered by the U.S. Department of Education to help eligible students cover costs of higher education after the student has exhausted their Unsubsidized LoanAn Unsubsidized Federal Direct Student Loan is made to a borrower meeting specific eligibility requirements, but not based on financial need (FAFSA). The borrower is responsible for paying all interest that accrues throughout the life of an unsubsidized loan. During in-school status, deferment, and forbearance periods, the borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized. eligibility. The student must be a U.S. citizen or eligible noncitizen and be enrolled at least half-time in a degree program. Unlike the Unsubsidized LoanAn Unsubsidized Federal Direct Student Loan is made to a borrower meeting specific eligibility requirements, but not based on financial need (FAFSA). The borrower is responsible for paying all interest that accrues throughout the life of an unsubsidized loan. During in-school status, deferment, and forbearance periods, the borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized., a credit check is required. Credit eligibility is based on the PLUS credit criteria, which is less stringent than the criteria used by most private lenders. But some borrowers may qualify for a lower interest rateA loan expense charged a borrower for the use of borrowed money. Interest is calculated as a percentage of the principal of the loan, which includes the original amount borrowed and any capitalized interest. by borrowing from a private credit-based lender. More information can be found on the Federal Student Aid website. If you would like to borrow a Graduate PLUS Loan, you should submit the FAFSA and complete the Direct PLUS Loan Application. First-time PLUS borrowers should also complete Entrance CounselingEntrance Counseling is a Federal Direct Loan requirement that ensures the borrower understands the terms and conditions of their loan and their rights and responsibilities. Federal loans cannot disburse until the borrower has completed it. The borrower can complete Entrance Counseling on the Federal Student Aid website. and a Master Promissory NoteThe Master Promissory Note (MPN) is a legal document in which the borrower promises to repay their loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of the loan(s). The Master Promissory Note can be completed on the Federal Student Aid website..