Federal Graduate PLUS Loan Oregon

The Federal Graduate PLUS Loan was designed to help graduate students pay for the cost of their educational expenses.

Local Companies

University of Oregon-Campus
(541) 346-1323
Eugene, OR
Marathon Education Partners
(503) 235-2500
Portland, OR
Red & Gena Leonard Foundation
(541) 564-9177
Hermiston, OR
Institute of College Information Inc
(971) 204-0181
17600 Pacific Hwy
Marylhurst, OR
Columbia Gorge Community College
(541) 298-3109
400 E Scenic Dr
The Dalles, OR
College Prospects
(503) 452-7777
Portland, OR
University of Oregon-Campus
(541) 346-3221
Eugene, OR
Pacific University
(503) 359-2222
2043 College Way
Forest Grove, OR


Federal Graduate PLUS Loan

Federal Graduate PLUS Loans Explained

The Federal PLUS Loan program was expanded in July of 2006 to include graduate and professional student borrowers. The Graduate PLUS Loan is guaranteed by the federal government and can also be used to pay for the full cost of the student's education.

The Federal Graduate PLUS Loan Program

Similar to the Parent PLUS Loan, eligibility for the Graduate PLUS Loan is not based on financial need. Instead, eligibility is based on passing a credit check.

Graduate PLUS Loan Details

Schools generally participate in either the William D. Ford Federal Direct Loan or the Federal Family Education Loan (FFEL) programs. To receive a Graduate PLUS Loan, you must be enrolled at least half time in an eligible graduate or professional program. Your credit report is reviewed for negative credit history within the past five years, such as late payments over 90 days, bankruptcy, or foreclosure. If your credit history doesn't meet eligibility requirements you may still be able to take out a Graduate PLUS Loan if someone with satisfactory credit co-signs on the loan. The Graduate PLUS Loan does not require collateral like a home equity loan.

The Direct Graduate PLUS Loan interest rate is currently fixed at 7.9% and the FFEL Graduate PLUS Loan interest rate is currently fixed at 8.5%. Unlike other student loans such as the Perkins Loan, the PLUS Loan has no grace period. You are required to begin repaying the loan immediately, with a first payment due 60 days after funds have been dispersed. You can elect to defer repayment while you are attending school at least half time, but interest continues to accrue and is added to your loan principal.

How Much You Can Borrow

The Graduate PLUS Loan program does not have a maximum borrowing limit--you can borrow up to the full amount of the cost of your education minus any other financial aid you receive. Fees for the loan can be up to 4% of the loan, deducted proportionately from each installment. This fee helps fund the loan program.

Receiving Your Graduate PLUS Loan

Applying for a Graduate PLUS Loan requires completing a Free Application for Federal Student Aid (FAFSA), as well as a PLUS Loan application, which you can obtain at your financial aid office. You will also need to sign a promissory note--a binding legal document that describes the terms and conditions of the loan and your agreement to repay. Your loan, once approved, is sent directly to your school. The school may require you to endorse the disbursement check so the loan funds can be applied to your account to pay tuition and any other fees or charges. If there is money left over the school usually disperses it to you via check or cash. You can, however, elect to have the school retain the funds for future charges.

Canceling the Graduate PLUS Loan

One question many students ask about the Graduate PLUS Loan is whether it can be cancelled once the student has been approved. If, for whatever reason, you decide you want to cancel the loan, you can do so a couple of ways. If the check is sent to you for endorsement you can refuse to do so, return the check to the school, and the check will be returned to the lender. You can also reply within 14 days of the notice date that you wish to cancel the loan. You also have until the first day of the payment period to notify the school you wish to cancel.

Sources:
GradPLUSLoans.com
StudentAid.Ed.Gov

Featured National Company

Huntington Learning Center

(303) 280-5331
4243 E. 136th Avenue #348
Thornton , CO

Related Articles
- Federal Educational Opportunity Grant Oregon
The Federal Supplemental Educational Opportunity Grant (FSEOG) provides a crucial supplement to the Pell Grant for the neediest students. File a FAFSA to discover whether you're eligible for this extra assistance.
- How to Find Free Scholarship Money Oregon
- Private and College-Sponsored Loans Oregon
- Psychology Degree Oregon
- Federal Stafford Loan Oregon
- Federal PLUS Loan Oregon
- Student Loan Interest Deduction Oregon
- Federal Perkins Loan Oregon
- Financing Higher Education Oregon
- Student Financial Aid Options Overview Oregon
Regional Articles
- Federal Graduate PLUS Loan Albany OR
- Federal Graduate PLUS Loan Beaverton OR
- Federal Graduate PLUS Loan Bend OR
- Federal Graduate PLUS Loan Canby OR
- Federal Graduate PLUS Loan Central Point OR
- Federal Graduate PLUS Loan Clackamas OR
- Federal Graduate PLUS Loan Coos Bay OR
- Federal Graduate PLUS Loan Corvallis OR
- Federal Graduate PLUS Loan Eugene OR
- Federal Graduate PLUS Loan Forest Grove OR
- Federal Graduate PLUS Loan Grants Pass OR
- Federal Graduate PLUS Loan Gresham OR
- Federal Graduate PLUS Loan Hermiston OR
- Federal Graduate PLUS Loan Hillsboro OR
- Federal Graduate PLUS Loan Hood River OR
- Federal Graduate PLUS Loan Klamath Falls OR
- Federal Graduate PLUS Loan La Grande OR
- Federal Graduate PLUS Loan Lake Oswego OR
- Federal Graduate PLUS Loan Lebanon OR
- Federal Graduate PLUS Loan Mcminnville OR
- Federal Graduate PLUS Loan Medford OR
- Federal Graduate PLUS Loan Newberg OR
- Federal Graduate PLUS Loan North Bend OR
- Federal Graduate PLUS Loan Oregon City OR
- Federal Graduate PLUS Loan Pendleton OR
- Federal Graduate PLUS Loan Portland OR
- Federal Graduate PLUS Loan Prineville OR
- Federal Graduate PLUS Loan Roseburg OR
- Federal Graduate PLUS Loan Salem OR
- Federal Graduate PLUS Loan Springfield OR
- Federal Graduate PLUS Loan The Dalles OR
- Federal Graduate PLUS Loan Troutdale OR
- Federal Graduate PLUS Loan Tualatin OR
- Federal Graduate PLUS Loan West Linn OR
- Federal Graduate PLUS Loan Wilsonville OR
- Federal Graduate PLUS Loan Woodburn OR
Related Articles
- Federal Educational Opportunity Grant Oregon
The Federal Supplemental Educational Opportunity Grant (FSEOG) provides a crucial supplement to the Pell Grant for the neediest students. File a FAFSA to discover whether you're eligible for this extra assistance.
- How to Find Free Scholarship Money Oregon
- Private and College-Sponsored Loans Oregon
- Psychology Degree Oregon
- Federal Stafford Loan Oregon
- Federal PLUS Loan Oregon
- Student Loan Interest Deduction Oregon
- Federal Perkins Loan Oregon
- Financing Higher Education Oregon
- Student Financial Aid Options Overview Oregon
Related Local Events
Pacific Northwest Wildlife Connections
Dates: 10/19/2008 - 10/23/2008
Location: Oregon Zoo
Portland OR
View Details

When To Hire/Who To Hire
Dates: 10/21/2008 - 10/21/2008
Location: The Governor Hotel
Portland OR
View Details

Difficult Conversations
Dates: 10/2/2008 - 10/2/2008
Location: The Governor Hotel
Portland OR
View Details

Collaboration
Dates: 8/27/2008 - 8/27/2008
Location: NW Natural
Portland OR
View Details

Illuminating the Ongoing Revolution in the Software Industry
Dates: 7/24/2008 - 7/24/2008
Location: Intel - Ronler Acres Campus Auditorium
Hillsboro OR
View Details
Rate Article
     
Articles Insider

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Software
Business Services Fashion Internet Technology
Career Financial Services Legal Telecommunications
Cars Franchise Miscellaneous Trade Shows
Computer Hardware Health Nightlife Travel
Construction Holidays Online Database Weddings
Education Home Appliances Real Estate Resources World History
Entertainment Home Electronics