One option to think about if you need to pay for graduate school is a grad PLUS loan. Offered by the U. S. Department of Education, this loan can assist in paying for any grad school expenses that remain. However, before applying, be sure you understand the financial ramifications of any debt.
Loan Application Due Dates
In order for their funds to post by the billing due date and for their refunds to be available as soon as possible, students should submit their loan applications by the following dates. After the deadline, students can still apply for loans, but the funds might not post to their student accounts by the deadline.
Fall Semester: Second week in July
Spring Semester: Second week in November
Summer Semester: First week in June
To request a Graduate PLUS Loan, please go to the Department of Education and select the “Sign In” button in the upper left-hand corner. (You will need your FSA ID to sign in. If you have not yet created an FSA ID, you should do so first.) Once you have logged in, you will need to complete three steps:
- Application: Following your FSA ID log-in, you will see a welcome screen with a number of options. Select the third option in the center of the page, “Apply for a PLUS Loan.” You must select Brandeis as the institution and enter the desired loan amount (Title IV school is 002133). Avoid choosing Brandeis GSAS as it is an outdated option that prevents you from completing the online application. In order to verify your eligibility for a Graduate PLUS Loan, your credit will be examined. You can use this website to add a cosigner or file an appeal if you were denied for credit-related reasons.
- Entrance Counseling: On the welcome page, click the “Complete Counseling” option (this should be the first option). Once more, choose Entrance Counseling from the list of options by clicking the “Start Entrance Counseling” button on the following screen. Important: Only those with adverse credit and endorsers are required to select PLUS counseling; do not select this option otherwise. You will receive information about the terms and conditions of the Graduate PLUS Loan program during your entrance counseling, and you will have to answer a brief quiz on the information in this introduction.
- Finish the Master Promissory Note by clicking the “Complete MPN” menu item in the left column. You must provide two references, verify your name and address, and electronically sign this form. Important: On the Department of Educations website, please choose “Brandeis University” rather than “Brandeis University-Graduate School of Arts and Sciences.” You only need to complete steps two and three the first time you take out a Graduate PLUS Loan because your promissory note is valid for ten years. When all procedures are finished, this loan will only be posted to your SAGE account.
Upon approval for Graduate PLUS Loan, the GSAS Office will send an award letter to you outlining the amount and disbursement schedule for your loans. You are not required to take this loan. If the cancellation of this loan will cause a balance due on your account, please first make other arrangements for your bill to avoid a hold being placed on your registration. Once you have fulfilled all loan and course registration requirements, you may then file for a refund of your credit balance through
FAQ
What are the requirements for Grad PLUS loans?
You must enrol as at least a part-time student in a graduate or professional program in order to apply for a grad PLUS loan. To find out how many credits you need to become a part-time student, check with your school. Furthermore, the curriculum needs to result in a professional certificate or a graduate degree.
Is it hard to get a Grad PLUS loan?
If your credit score is low and you don’t have a negative credit history, you can still qualify for a PLUS loan. e. , no bankruptcies, defaults, or other negative actions regarding any Title IV debt, and no debts more than ninety days past due.)
When can I apply for a Grad PLUS loan for fall 2023?
After April 1, 2023, students will have access to “Apply for a PLUS Loan” for the 2023–2024 school year. Your promise to repay your loan is outlined in the Graduate PLUS Master Promissory Note, which is a legally binding contract between you and the Department of Education.
Can you be denied a Grad PLUS loan?
One of the prerequisites for qualifying for a Direct PLUS Loan as a parent or graduate student is not having a bad credit history. Don’t give up if your application is turned down due to a bad credit history. You still have options.
Read More :
https://studentaid.gov/plus-app/grad/landing
https://www.brandeis.edu/gsas/financing/apply_for_loans/grad_plus_steps.html