Plus Loans for Graduates

Our Medical Student Loan Advisers can help answer any questions you may have and help you through the application process.

Quick Jump

Benefits of a PLUS loan for graduate students
Rates and Terms
Principal Reduction and Rebate Programs for medical students and graduates
Repayment Options
Forbearance

Loan Program Benefits

Easy to apply.
Rapid eligibility and determination including pre-approval in minutes!
Borrow up to the total cost of attendance minus other aid received
Eligibility is based upon borrowers having good credit or no credit
Income and FICO scores are not a consideration

Cover the Total Cost of Your Medical Education

Graduate students can borrow up to their total cost of education minus other financial aid awarded. This total cost can include tuition and fees, room and meals, books and supplies, transportation, and more.

Graduate PLUS Terms and Benefits*

The Graduate PLUS loan interest rate is a fixed rate of 8.50%.

Principal Reduction and Cash Rebate Programs

After graduating medical school, $500 will be available to the borrower to be paid out or as a credit to the loan account. The graduate student must self-report to Student Aid Centers’ lending body within 60 days after graduation in order to receive the benefit.

Principal Reduction Programs for Responsible Repayment¹

By making ACH payments, the borrower will be eligible for total credits of up to 3% of their principal balance, within the first 48 months of repayment!

These include:

1% principal balance credit at 24 months of initial on-time payments
1% principal balance credit at 36 months
1% principal balance credit at 48 months

Repayment Options

GradPLUS borrowers may defer payments on their loans as long as they retain at least half time in school status, or qualify for another deferment option.

Standard Payment Plan

You pay the same amount each month for up to 10 years towards the principal and interest of the loan. The minimum payment amount is at least $50 per month.

Graduated Payment Plan

You begin repaying your loan with a lower payment and increase that amount after two to four years. The minimum payment amount is at least $50 per month.

Income-Sensitive Payment Plan

You may repay your loan based on your gross monthly income. You must show income documentation annually and additional documentation may be required.

Extended Payment Plan

You may take up to 25 years to repay your loan if your combined loans totals $30,000 or more.

Graduate PLUS In-School Forbearance

After receiving your medical degree or dropping below half-time in school status, borrowers may qualify for forbearance. You must reapply every 12 months and your accrued interest will be capitalized at the end of each forbearance period.

Our Medical Student Loan Advisers can help answer any questions you may have and help you through the application process.

* Rewards may change without notice. Within 60 days after gradation, students must notify Student Aid Centers’ lending body in order to receive the reward.

¹To receive the 3% principal reduction, Graduate PLUS borrowers must submit the Principal Reduction Form within 90 days of the date of their first payment. If the Graduate PLUS loan is prepaid in full within the first 24 months of repayment, the principal reduction will be reapplied.