The federal Parent Loan for Undergraduate Students (PLUS) and Graduate PLUS loans are borrowed by a parent or a graduate student from the U.S. government.
This loan has a fixed interest rate of 6.31%* and a 4.276%* origination fee. Fees are deducted from the loan when disbursed to the school. In most cases, repayment of the loan begins immediately after the loan has disbursed; however, it may be possible to postpone payment.
Dependent students whose parents are denied a Direct Parent PLUS loan are eligible for an additional Direct Unsubsidized loan of $4,000 per academic year (first- and second-year students) or $5,000 per academic year (third- and fourth-year students).
Graduate/Pharmacy students who need funding in addition to the federal Direct Subsidized and/or Unsubsidized loans may apply for a federal Direct Graduate PLUS (Grad PLUS) loan.
The Grad PLUS loan has a fixed 6.31%* interest rate and a 4.276%* origination fee at disbursement.
Unlike the Subsidized and Unsubsidized loans, there is no borrowing limit on the Grad PLUS loan, except that the amount borrowed must not exceed the cost of attendance (COA) minus other financial aid.
For more information about the Direct Lending program, including program benefits and features, please visit the Direct Lending website.
To be eligible for a Grad PLUS Loan:
To complete an online Parent PLUS or Graduate PLUS Loan Application, please visit www.StudentLoans.gov and click the GREEN "Log In" button. After signing in, select Request a Direct PLUS Loan. Under "Select the loan type" choose Parent PLUS or Graduate PLUS. Follow the steps to complete the application and credit check. In the “School Name” section, be sure to select the University of Saint Joseph.
The federal Direct Lending program requires that you meet certain criteria in order to be eligible for the Parent PLUS or Grad PLUS loan. These requirements are less strict than typically applying for private student loans, and are not based on your credit score.
To be eligible for a PLUS loan, you must NOT*:
*If you are ineligible due to extenuating circumstances involving a mortgage delinquency of less than 180 days, or due to medical expenses, but otherwise would qualify, you may still be eligible for a PLUS Loan.
*Interest rates and Origination fees are subject to change every July 1 by the federal government.
The University of Saint Joseph, including the Gengras Center School and the School for Young Children, is accredited by the New England Association of Schools and Colleges, Inc. and the State of Connecticut Office of Higher Education. The University of Saint Joseph prohibits discrimination against any persons on account of their race, color, religious creed, age, sex, gender identity or expression, sexual orientation, transgender status, marital status, national origin, ancestry, disability (including, but not limited to, intellectual disability, present or past history of mental disorder, learning disability, or physical disability), genetic information, homelessness, prior conviction of a crime, or any other characteristic protected by law, in the administration of its educational policies, admissions policies, scholarship and loan programs, and employment practices (unless there is a bona fide occupational qualification related to employment).
Inquiries concerning the University’s non-discrimination policies may be referred to Deborah Spencer, Human Resources director /Title IX coordinator, telephone 860.231.5390 or email [email protected], or to the U.S. Department of Education, Office for Civil Rights, 8th Floor, Five Post Office Square, Boston Mass 02109, telephone 617.289.0111, TDD 800.877.8339, fax 617.289.0150, or email [email protected]. More information.