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.

Graduate PLUS Loan Application
Graduate students interested in borrowing through the Direct PLUS Loan program must complete a request by visiting You will need your FSA ID and password to enter the site; you will have the opportunity to create them if you do not have them yet. The borrower will receive an instant credit decision, and decisions are valid for 180 days from the initial date.

Sign your Master Promissory Note (MPN)
If approved for a Graduate PLUS Loan, you must complete a PLUS Master Promissory Note. You may complete your MPN by visiting You will need your FSA ID 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 who have not previously used a Federal Direct Loan and who are interested in borrowing under the Direct Graduate PLUS Loan program must complete an entrance counseling session

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 and complete a PLUS Counseling session.
  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 and complete a PLUS Counseling session.
  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, 2019 and June 30, 2020, the interest rate is fixed at 7.08%.

There is a loan fee on all Direct PLUS Loans. The loan fee is a percentage of the amount of each loan you receive. For PLUS loans disbursed on or after October 1, 2019 and before October 1, 2020 the loan fee is 4.236%. 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 from the U.S. Department of Education.

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.