The Grad Plus Loan application for the academic year typically opens in June of each year. This allows students to plan ahead and apply for the loan before the start of the new academic year.
The application process is usually available on the Federal Student Aid website, and students can start applying as early as June 1st. It's essential to note that the application process can be completed online, making it more convenient for students.
The application deadline for Grad Plus Loans is June 30th of each year, so it's crucial to apply before this date to ensure timely processing.
Application Details
The 2023-2024 Federal Direct Graduate PLUS Loan application is already available. You can submit your application, and the HGSE Financial Aid Office will be notified and work to add the approved loan to your financial aid package.
After submitting your application, please allow several business days for the process to be completed. This will ensure that your loan is added to your financial aid package correctly.
The 2024-2025 Federal Direct Graduate PLUS Loan Application will be available in May 2024.
To apply for the loan, you need to complete all steps in the Grad PLUS loan process. This includes completing the online Federal Direct Grad PLUS Loan Application, which will trigger a credit check to determine your eligibility.
If your credit check is approved, you'll need to complete a Grad PLUS Loan Master Promissory Note (MPN) and Direct Loan Entrance Counseling. These steps are crucial for the loan to be processed by your financial aid counselor.
Here's a brief overview of the application process:
If you're not approved for the loan due to adverse credit history, you can appeal the decision or find an endorser who doesn't have an adverse credit history. If you decide not to pursue the Grad PLUS loan, you can consider alternative loan options or scholarship opportunities.
Discover more: Joint Loan Application Bad Credit
Timing and Deadlines
The 2023-2024 Federal Direct Graduate PLUS Loan application is available, but it's essential to apply at the right time to avoid any delays. The optimum time frame to apply for a Grad PLUS loan is no sooner than 30-45 days prior to the start of the academic term.
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The application process can take several business days to complete, so plan accordingly. The HGSE Financial Aid Office will be notified and work to add the approved loan to your financial aid package after you submit your application.
To ensure you meet the deadlines, mark your calendars for the following application deadlines: Fall 2024 - December 6, 2024, Spring 2025 - May 2, 2025, and Summer 2025 - August 1, 2025.
Here are the key deadlines to keep in mind:
Frequently Asked Questions
When can I apply for a parent PLUS loan for 2024-25?
You can apply for a parent PLUS loan for 2024-25 starting June 1, 2024, on the studentaid.gov website.
Sources
- https://www.gse.harvard.edu/admissions-and-aid/financial-aid/learn-about-aid/student-loans/federal-direct-graduate-plus-loan-program-grad-plus
- https://www.usf.edu/financial-aid/loans/federal/grad-plus/
- https://uh.edu/financial/graduate/loans/Grad-PLUS/
- https://financialaid.umbc.edu/types-of-aid/federal-loans/graduate-plus/
- https://uwm.edu/finances/finances/loans/federal-direct-graduate-plus-loan/
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