The Deficit Reduction Act of 2005 allows graduate and professional students to borrow under the Federal PLUS loan program on their own behalf. The PLUS was previously available only to the parents of dependent undergraduate students.
Students interested in receiving a Federal Graduate PLUS Loan should read this important notice.
Student may borrow up to the total cost of education minus financial aid with no aggregate maximum.
For the 2014-15 academic year, the interest rate will be a fixed rate of 7.21 percent. Interest accrues while the student is in school. Students may choose to make quarterly interest and principal payments or have the loan deferred and interest capitalized once at the time of repayment. Standard repayment period is 10 years. A net 4.288 percent processing fee is deducted from the loan proceeds when funds are disbursed. For loans in which the first disbursement is on or after October 1, 2014, the origination fee is 4.292%.
Repayment begins six months after the last date of half-time enrollment.
Award is renewed only if all necessary forms are filed each year and students continue to meet eligibility requirements. Students will be required to complete entrance counseling and an eMPN if these requirements were not previously completed at Marquette.
The Office of Student Financial Aid provides undergraduate and graduate students with resources about types of financial aid and student employment.
FAFSA School Code: 003863
Questions or for more information, contact the Office of Student Financial Aid