Financial Aid

Types of Aid

Ithaca College participates in a wide variety of aid programs designed to meet the needs of most students. These include Federal, state (such as New York, Vermont, Delaware, and Rhode Island), and our own institutional aid programs. All applicants and continuing students are eligible to apply for aid programs that are available as scholarships, grants, loans, and work. Tax incentives may also apply for some families.

Back to "Loans"

Graduate Direct PLUS LoansGraduate Direct PLUS Loans
Low-interest federal loans a graduate student may obtain. Graduate PLUS Loans are awarded by Ithaca College, but repaid to the federal government.

Application Procedures
Graduate PLUS Loans are available to eligible graduate students enrolled at least half time as a matriculated graduate student in a graduate or professional program. A graduate student must not have an adverse credit history to participate through this program.

Pre-approval Application Procedures
A graduate student may initiate a credit check online by visiting Credit approval is limited to 90 days. Completion of credit check does not preclude the requirement to submit a Graduate PLUS Loan Request Form to the Office of Student Financial Services.

Graduate PLUS Loan Request Form
Graduate students interested in borrowing through the Direct PLUS Loan program must complete and submit a Graduate PLUS Loan Request Form to the Office of Student Financial Services. Incomplete forms will delay certification of the loan. Do not leave required data fields blank. A credit check will be done by the U.S. Department of Education upon receipt of a PLUS or Graduate PLUS Loan certification from Ithaca College.

Sign your Master Promissory Note (MPN)
If approved for a Graduate PLUS Loan, you must complete a PLUS Master Promissory Note (eMPN). You may complete your MPN by visiting You will need your federally assigned PIN to complete the MPN online. The Master Promissory Note is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). The MPN is valid for up to 10 years.

Complete Entrance Counseling Session
All graduate students interested in borrowing under the Direct Graduate PLUS Loan program must complete an entrance counseling session. (Link to 0.6 Entrance Counseling Session page)

If the Graduate PLUS application is denied, a borrower has three options.

  1. Request a review of credit check due to inaccurate information on your credit report. Contact the Direct Loan Servicer at 800-557-7394.
  2. Provide an endorser. The endorser must pass a credit check and sign a promissory note. Contact the Direct Loan Servicer at 800-557-7394.
  3. Not pursue the PLUS loan. No further action.

Interest Rate
Graduate Direct PLUS Loans: If the first disbursement of your PLUS loan is between July 1, 2013 and June 30, 2014, the interest rate is fixed at 6.41%.

There is a loan fee on all Direct Subsidized and Unsubsidized Loans. The loan fee is a percentage of the amount of each loan you receive. For loans disbursed between July 1, 2013 and November 30, 2013, the loan fee is 4.204%.  For loans disbursed between December 1, 2013 and June 30, 2014, the loan fee is 4.288%. Ithaca College will deduct the loan fee proportionately from each loan disbursement. The specific loan fee that you are charged will be reflected in a disclosure statement that Ithaca College will send to you.

Annual Loan Limits
The federal government sets limits on the maximum amount you can borrow each year. A table of these loan limits can be found in the policies section of this site.