OU Title IV Institutional Code: 003184
Federal Direct PLUS Loan Information for Graduate and Professional Students only
The University of Oklahoma participates in the William D. Ford Federal Direct Loan Program. This information is for the Federal Direct PLUS Loan for Graduate and Professional students. At OU, we will commonly refer to this loan program as the Direct Graduate PLUS Loan Program or Graduate PLUS Loan to avoid confusion with the Parent PLUS Loan for undergraduate students. The information below is intended for OU Graduate and Law students. This is a loan program which the student repays with interest.
Graduate and law students must first apply for federal financial aid by completing the FAFSA application. A Graduate PLUS Loan is considered a supplemental loan, after borrowing the annual maximum from the Federal Direct Stafford Loan program.
Please review the basic information listed below about the Federal Direct Graduate PLUS Loan program. If you wish to apply, the link is in the How to Apply section at the bottom of this page.
Applying for the Federal Direct PLUS Loan
Begin Graduate PLUS Loan Application
Type Direct Graduate PLUS Loan in the Ask the Sooners search for more information.
The University of Oklahoma participates in the William D. Ford Federal Direct Loan Program. This information is for the Federal Direct PLUS Loan for Graduate and Professional students. At OU, we will commonly refer to this loan program as the Direct Graduate PLUS Loan Program or Graduate PLUS Loan to avoid confusion with the Parent PLUS Loan for undergraduate students. The information below is intended for OU Graduate and Law students. This is a loan program which the student repays with interest.
Graduate and law students must first apply for federal financial aid by completing the FAFSA application. A Graduate PLUS Loan is considered a supplemental loan, after borrowing the annual maximum from the Federal Direct Stafford Loan program.
Please review the basic information listed below about the Federal Direct Graduate PLUS Loan program. If you wish to apply, the link is in the How to Apply section at the bottom of this page.
Applying for the Federal Direct PLUS Loan
- Who Can Borrow?
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- An OU graduate or OU law student may apply for this loan program.
- Student Eligibility Requirements
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- Must be a U.S. citizen or eligible non-citizen as listed on the application website. Eligible non-citizens must submit copies of immigration documentation (front and back) to OU Financial Aid Services.
- Must be admitted to an OU degree program or taking OU preparatory coursework toward admission, not just raising GPA (Grade Point Average).
- Must be making Satisfactory Academic Progress.
- Must be enrolled at least half-time (5 hours per semester).
- Additional requirements apply.
- Interest Rates and Loan Limits
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- You can borrow no more than the student’s Cost of Attendance minus any other aid received. The school will certify up to this amount when originating the loan.
- The fixed interest rate for Federal Direct Graduate PLUS loan is updated annually on July 1.
- Interest begins to accrue with the first disbursement of your loan. You are responsible for paying interest during all loan periods.
- More information will be listed on the loan application website.
- Credit Criteria for the Graduate PLUS Loan
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- You must pass a credit review to qualify.
- If you do not meet the credit criteria, you may consider applying with a credit-worthy endorser.
- Graduate PLUS loan credit decisions are valid for 180 days.
- Graduate PLUS Loan Application Deadlines
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You may begin the 2012-13 Graduate PLUS application process in April 2012 at studentloans.gov. Apply by the recommended deadlines below for priority processing.
The Graduate Plus Loan Periods are:Semester Recommended
DeadlinesSummer 2012 04/01/2012 Fall 2012 - Spring 2013 06/01/2012 Fall 2012 only 06/01/2012 Spring 2013 only 11/01/2012
Note: You may only apply for the Graduate PLUS loan for up to two consecutive semesters within an aid year (such as Fall-Spring). If you will be attending OU for both the Fall and Spring semesters, apply for the Fall-Spring loan period. You can begin applying for Summer 2012 Graduate PLUS Loans in March 2012 with a recommended priority application deadline of April 1, 2012. A separate OU FAS online summer application and 2011-2012 FAFSA are also required. Check oZone or type Summer in the Ask the Sooners search for more information. - How to Apply for the Graduate PLUS Loan
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- Complete the Free Application for Federal Student Aid (FAFSA).
- Get a U.S. Department of Education PIN number at www.pin.ed.gov.
- Complete a Federal Direct Graduate Loan application and MPN (Master Promissory Note) at StudentLoans.gov.
- Additional information may be required before the loan can be disbursed.
- Graduate PLUS Application Processing Time
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- After your Graduate PLUS loan application and MPN are received at OU FAS, processing takes 4-8 weeks.
- Check the receipt of your Grad Plus Loan in the Missing Information link in oZone.
- Additional information may be needed for processing and disbursement.
- Applications received after the recommended deadlines below are reviewed by OU FAS on a non-priority basis and are subject to additional federal deadlines.
- You may incur late charges at the Office of the Bursar if your account is not paid by the required due dates.
- Disbursement Information
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The Graduate PLUS loan is disbursed through the OU Office of the Bursar. Disbursement normally occurs at the start of the semester following the schedule below if the loan funds are available.
Semester Recommended
DeadlinesFall 2012 - Spring 2013 06/01/2012 Fall 2012 only 06/01/2012 Spring 2013 only 11/01/2012
- Repayment Information
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- Repayment of the Graduate PLUS loan begins 60 days after you have received the last payment of the loan for a school year. An in-school deferment may postpone payments while enrolled at least half-time. Your school will normally report this automatically to NSLDS at the U.S. Department of Education. For additional information regarding repayment options for Graduate PLUS Loans visit www.dl.ed.gov or contact Direct Loan Applicant Services Center toll free at 1-800-557-7394.
Begin Graduate PLUS Loan Application
Type Direct Graduate PLUS Loan in the Ask the Sooners search for more information.
Phone: 405-325-4521