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GradPLUS Loan Returning Graduate Students

All returning graduate students who wish to borrow a GRAD PLUS Loan must complete the following steps.

The amount of GRAD PLUS Loan listed on your Award Letter is the maximum amount you are eligible to borrow.  You may borrow any amount up to this maximum.

Unlike Federal Stafford Loans, GRAD PLUS Loans require credit approval.  There is no debt to income ratio involved but you must have good credit.  If credit is not approved, student will have an opportunity to appeal the credit decision or obtain a cosigner for the loan approval.

Step 1.  Proceed to the federal government's Direct Lending website and sign in with pin.  https://studentloans.gov

Step 2.  Select "Request a Plus Loan" then choose Grad PLUS Loan.  This initiates the credit check.
If you previously borrowed a Grad PLUS Loan at MICA, you have completed the process and do not go to Step 3.  If you have not borrowed a Grad PLUS previously, go to step 3.

Step 3.  Complete a Master Promissory Note (MPN), located on the left sidebar on the Direct Lending website and choose GRAD PLUS.

You have the right to cancel or reduce the amount of your awarded loan by contacting the Financial Aid Office.

This page was last updated on 10/28/2016.