Direct Graduate PLUS Loans

Graduate PLUS Loans are special loans from the government for graduate students who need extra help paying for school. 

The Education Department disburses the loans to the University about 10 days before each semester begins. The loans are divided evenly between the fall and spring semesters. Sometimes, depending on the program, they might even split them into three semesters.


  • Student must be enrolled in at least 6 credits in any given semester to qualify.
  • Must be enrolled in a graduate program. 
  • Exhausted their eligibility for Direct Stafford Loans.

  • Must have completed a FAFSA.

  • Pass a simplified credit check. The Department of Education doesn't specify a credit score but requires the absence of an adverse credit history. 

How to Apply

UMB does not automatically award Parent PLUS Loans. Follow the following steps to apply for the Parent PLUS Loans. 

  1. Complete the Free Application for Federal Student Aid FAFSA (Federal Title IV Code: 002104).
  2. Accept Awards in SURFs
  3. Fill out the Direct Loan Request Form
  4. Complete Master Promissory Note (MPN) on
    Incoming students must complete the Graduate PLUS Loan Agreement (MPN) along with the Subsidized/Unsubsidized Loan Agreement (MPN).
    Returning students only need to complete the Graduate PLUS Loan Agreement (MPN) yearly.
  5. Complete Entrance Counseling

Loan Limits and Terms

Awards for financial aid are decided based on the FAFSA form you fill out for the current year. There's no limit to how much aid you can get each year, but it can't be more than the total cost of attending school minus any other aid you receive. At UMB, if you qualify, you'll automatically get GradPLUS Loans up to the most they can give you.

There's a fee called an origination fee that comes with these loans. An origination fee is the part of the loan amount that is deducted upfront to cover administrative costs.

Interest on the loan begins accruing right after the first payment is made to the school. Repayment options offer flexibility, including the choice to defer payments while still in school. However, it's crucial to note that interest continues to accumulate daily, based on the remaining amount borrowed.

Loan Terms

Term Name Percentage
Annual Percentage Rate
(7/01/2023 - 6/30/2024)
Origination Fees 4.228%


Students denied a GradPLUS Loan will receive a notification letter from the Department of Education, with UMB notified electronically. If you are denied you can do one of the following options:

  • Review credit report for errors and appeal directly with the Department of Education.
  • Find a credit-worthy endorser to co-sign on the loan.

Reasons for Denial:

  • Current delinquency of 90 days or more, including unpaid collection accounts and charge-offs.
  • Default within the past five years or a defaulted loan that has been claim paid.
  • Bankruptcy (Chapter 7, 11, and 12) within the past five years (Chapter 13 is acceptable).
  • Discharge, foreclosure, foreclosure proceedings, deed in lieu of foreclosure, lease or contract termination by default, repossession, tax lien, wage garnishment, voluntary surrender, or write off of Title IV debt in the past five years.

Endorsing a Graduate PLUS Loan:

  1. Create an FSA ID.
  2. Sign in to
  3. Enter Loan Reference Number provided by the student borrower and follow instructions.