Graduate students should exhaust their federal Stafford loan eligibility before applying for a Graduate PLUS loan.

Savings

• 0% default fee
• 0.25 percentage point interest rate reduction for automatic debit

See How to earn these borrower benefits.

Eligibility

• You may be eligible for a Graduate PLUS loan if you are enrolled in school at least half time.
• A credit check is required.
• You must be a U.S. citizen or national, a U.S. permanent resident, or an eligible non-citizen.
• You must submit a FAFSA.

Features

• Flexible repayment options are available.
• No payments while you are in school at least half time.
• You can manage your account online 24/7 at www.ManageYourLoans.com.
• You get life-of-loan servicing from Sallie Mae.
• There is no prepayment penalty.
• We have an easy online application and approval process with an instant credit decision.
• Interest may be tax deductible.
• You can align repayment of your Graduate PLUS loans with your Stafford loans.

And, when you join Upromise,^® you can use your Upromise rewards to help pay down balances automatically on your eligible Sallie Mae-serviced student loans by linking your Sallie Mae^® account to your Upromise account with Upromise Loan Link^SM!* To learn more, or to join Upromise now, go to www.salliemae.com/upromise.

Loan terms

Loan limits

You may borrow up to the full cost of your education, less other aid received.

Interest rate

The Graduate PLUS interest rate is fixed at 8.5%. Sallie Mae Education Trust offers interest rate reductions that may reduce the interest rate to as low as 8.25%. See the Terms and conditions.

Fees

There is a 3% origination fee charged by the federal government. The 1% federal default fee will be paid on the borrower's behalf on Sallie Mae Education Trust's Graduate PLUS Loan guaranteed by USAF or NELA February 1, 2008–June 30, 2008.

Legal

• You are responsible for all interest that accrues on the Graduate PLUS loan. Unpaid interest will be capitalized (added to the loan principal) and you will therefore pay interest on a higher amount.
• Repayment on PLUS loans begins within 60 days after the final disbursement of the loan. Graduate PLUS loans, for borrowers who are certified by their school to be attending at least half time, will be placed into in-school deferment. No payments are required during in-school deferment.

*Access to Upromise is not limited to Sallie Mae customers. Terms and conditions apply.