Office of Financial Aid

Federal Direct Graduate PLUS Loan

Graduate students are eligible to borrow under the Federal Direct Graduate PLUS Loan program, pending a credit check approved by the U.S. Department of Education. You must be enrolled at least 6 credit hours (5 or more for the Graduate College and School of Public Health) to receive the Graduate PLUS loan. The maximum amount that can be borrowed is the cost of attendance minus any other financial aid. The Graduate PLUS Loan is an unsubsidized loan, meaning the borrower will be charged interest from the time the loan is disbursed until it is paid in full. Repayment begins within 45 days of leaving school or falling below half time enrollment. The interest rate is fixed at 7.9%. There is a net 2.5% origination fee (4% origination fee with a 1.5% rebate).

Master Promissory Note (MPN)

Borrowers of Graduate PLUS loans must sign a Master Promissory Note (MPN) agreeing to pay back the loan to the federal government, with interest, according to the terms of the program. This MPN is separate from the Direct Stafford loan MPN. You must complete the MPN online here.

UIC Financial Counselor™ Requirement

Every year that you borrow a loan at UIC, you must complete a UIC Financial Counselor™ session. If you do not complete this online debt management tutorial, your grades, transcripts, and subsequent class registration will be put on hold.