If you are a graduate student who needs additional loans along with your Unsubsidized Stafford Loan, now is the time to apply for a Graduate PLUS Loan. Graduate PLUS loans do not automatically appear on a student’s account, so a student must take special steps if they wish to receive this type of loan. Graduate students who desire a Graduate PLUS Loan must take the following steps:
- Apply for the loan at studentaid.gov.
- Complete entrance counseling and a Master Promissory Note through studentaid.gov, if the student has not completed these tasks in recent years.
- Submit a PLUS Loan Request Form or Graduate Cost of Attendance Adjustment Form to the Office of Financial Aid. If you’re uncertain as to which form to complete, please review this handout [link].
For the 2020-2021 academic year, graduate PLUS Loans have a fixed interest rate of 5.3% and a loan fee of 4.228%. As with all federal loans, the Graduate PLUS Loan disburses on the first day of each semester.
You are welcome to contact the Office of Financial Aid with any questions or concerns that you may have!
The Office of Financial Aid is currently working remotely, so students can get in touch by calling 312.567.7219 or emailing finaid@iit.edu. Students are also welcome to schedule a video chat appointment to speak with a counselor. You can find details on how to contact the Office of Financial Aid here.