University Loyola Chicago
Office of Student Financial Assistance 6525 N. Sheridan Road Chicago, IL 60626
Graduate: 773.508.2984 [e-mail] www.luc.edu/finaid
Federal Grad PLUS Loan Fact Sheet
The Federal Grad PLUS Loan is a credit-based financing option for eligible graduate students enrolled at least half-time. In order for a graduate student to receive a Federal Grad PLUS Loan, a credit check is performed by the lender to ensure the student is creditworthy. Approval for the Federal Grad PLUS Loan can be started by contacting a lender below.
STUDENT ELIGIBLITY INTEREST RATE ORIGINATION FEE INTEREST RATE REDUCTION
U.S. citizens, eligible non-citizens 7.9% 3%
U.S. citizens, nationals, or eligible non-citizens 8.5% 3%
U.S. citizens, nationals, permanent residents 8.5% 3% 0.5% after 1st payment 1.5% when first 36 consecutive payments are made on time and electronic statement enrollment 0.25% and electronic statement enrollment Remaining need***
U.S. citizens, eligible non-citizens 8.5% 3%; 1% rebate repayment at 1% interest rate reduction after 24 ontime payments; 2% after 48 payments; 1% rebate at repayment
U.S. citizens, nationals or eligible non-citizen 7.5% 3% 1% immediately for all borrowers
None
1.25% at repayment
PRINCIPLE BALANCE REDUCTION DEBIT RATE REDUCTION ** LOAN MAXIMUM REPAYMENT TERM INTEREST ONLY REPAYMENT OPTION STUDENT ENROLLMENT
Up to 3% of total loan amount
None
None
None
0.5%
0.25%
0.25%
In school deferment No
In school deferment Yes
In school deferment Yes At least time
In school deferment Yes
In school deferment Yes
To begin the application process contact: Tel...