Graduate Plus Direct MBA Loans


Title IV Accredited U.S. Schools1
Funder: U.S. Deparment of Education

Programme: Full-time to Half-time MBA Programs
Study in: USA
Next Deadline: varies by State
Number of Awards: open

Loan Value:  You may finance up to the cost of attendance, minus any other financial aid received.

Eligibility:
All accepted U.S. citizens, legal permanent residents, or eligible non-citizens2 who do not have adverse credit history6. The three basic rules are summarized here:

  • The U.S. Department of Education is the lender.
  • The borrower must not have an adverse credit history.
  • The maximum loan amount is the student’s cost of attendance (determined by the school) minus any other financial aid received.

Loan Faqs:

  • There is a loan origination fee of around 4.292% (up until 1 October 2015) and 4.272% thereafter.
  • Loan interest rates are fixed, currently at 6.84%3.
  • Loan repayments begin six months after graduation.

Application instructions:
All students must fill out a free federal student aid form4. Successful applicants will be required to sign a Master Promissory Note. Contact the student financial aid office of your school for complete instructions.

Application Deadline:

→ Varies by State5

Website: Direct Plus MBA Loans

1 Title iV Accredited Schools – 2015-2016
2 FAFSA – Eligible non citizens
3 U.S. Dept of Education
4 FAFSA
5 FAFSA – Student Aid Deadline
6 Exceptions may be considered by way of an endorser.