Federal PLUS Loan for Graduate and Professional Students
| Federal PLUS Loan for Graduates |
| Why students choose this loan | |
|---|---|
| A federal loan that covers your costs | Use a Federal PLUS Loan1 or combine it with the Federal Stafford Loan to cover your graduate or professional degree expenses. It’s one of the most affordable ways to finance your graduate school education. |
| Low fixed interest rate | 8.5% fixed interest rate |
| No payments until you leave school | Payments do not begin until you leave school or drop below half-time enrollment.2 You may also request to postpone your payments for an additional six months so that your payments start when repayment begins on your Federal Stafford Loans. |
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| Additional features and benefits | |
|---|---|
| How much you can borrow per year | There’s no annual maximum — you can borrow up to the cost of education (tuition, rent, books, etc.) minus other financial aid. |
| Fees |
For loans guaranteed on or after July 1, 2008:
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| Wells Fargo service |
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| How the process works | If you are seeking a degree; enrolled at least half-time at an eligible school; and a U.S. citizen, national, or permanent resident alien:
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| Federal PLUS Loan for Graduate Students |
Notice: Wells Fargo may at its option, sell federal student loans it originates to an unaffiliated third party and may also transfer servicing rights as a result of the sale. If this occurs, Wells Fargo or the new holder will provide you timely notification of the sale and the address and phone number for the new servicer if applicable.
1. Wells Fargo offers federal student loans to select eligible schools. Wells Fargo will continue to serve our existing federal student loan customers who attend schools which may no longer be eligible under Wells Fargo's policies. Customers must meet qualification criteria and all loans are subject to approval.
2. Repayment begins immediately after the final disbursement, but your loan is deferred while you are in school at least half time and for the six-month period after you leave school or drop below half-time enrollment.
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