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Applying for and receiving a Graduate PLUS Loan

March 6, 2020


Here are step by step instructions to apply
for and receive your Graduate PLUS Loan. In order to receive a Graduate PLUS Loan, you
must be enrolled in 6 credit hours or more, in a graduate degree program, have completed
the FAFSA and pass a credit check. The first step, complete your credit check;
log on to studentloans.gov and select request a Direct PLUS loan. You will then choose graduate
PLUS. You will be notified upon submitting your credit information if you have been approved
or declined. The Office of Financial Aid will be notified electronically within 24 hours
of the credit decision. If you were approved, you will need to complete your Grad PLUS Entrance
Counseling; you only need to complete Grad PLUS Entrance Counseling once while you are
a Graduate student at the University of Saint Francis. Grad PLUS Entrance Counseling is
a short tutorial that will inform you of how your student loans work, how to use them successfully
and other important information. The last step is to complete your Grad PLUS
Master Promissory Note. The Master Promissory Note is your promise to repay your loans after
graduation. Like Grad PLUS Entrance Counseling, the Grad PLUS MPN only needs completed once
while you are a graduate student at the University of Saint Francis. Once the Office of Financial
Aid receives electronic notification that your Grad PLUS Entrance Counseling and Grad
PLUS MPN have been successfully completed and we have an approved credit check on file,
we will receive your funds electronically from the federal government to pay towards
your account; this will occur on or after the first day of the semester. Please note
that the grad plus credit check will need to be completed each academic year in order
to receive these funds. For further information, feel free to email
us at [email protected] and we’ll be happy to assist you.

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