The Federal Graduate PLUS Loan Program

This is a loan made to graduate and professional students based on credit worthiness. You may borrow up to the cost of education less any other financial aid awarded. Federal regulations require the loan proceeds to be disbursed in two equal amounts. These proceeds are applied directly to your tuition account. Graduate PLUS loans are available through the Direct Loan Program, which is administered by the federal government. All loans will be processed with the Department of Education as your lender. The fixed interest rate is set by the Department of Education and will be established each award year. The Department of Education will withhold a small processing fee from your requested loan amount. First-time borrowers will be required to complete a Master Promissory Note with the Department of Education and are also required to complete student loan entrance counseling at www.studentloans.gov. Information about the Graduate PLUS Loan may be obtained from the Office of Financial Planning website at elon.edu/finaidborrow.