{"id":12233,"date":"2019-05-07T11:35:45","date_gmt":"2019-05-07T15:35:45","guid":{"rendered":"https:\/\/www.bumc.bu.edu\/osfs\/?page_id=12233"},"modified":"2025-12-04T18:39:18","modified_gmt":"2025-12-04T23:39:18","slug":"graduate-plus-loan","status":"publish","type":"page","link":"https:\/\/www.bumc.bu.edu\/osfs\/resources\/types-of-aid\/loans\/graduate-plus-loan\/","title":{"rendered":"Graduate PLUS Loan"},"content":{"rendered":"<p><script type=\"text\/javascript\" src=\"https:\/\/embed.financialaidtv.com\/cms\/embed\/script\/465?iid=103767&amp;hd=1&amp;dim=responsive\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/script><\/p>\n<h4><strong>IMPORTANT CHANGES TO THE GRADUATE PLUS LOAN:<\/strong><\/h4>\n<p><span>On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) prevents any new <\/span>Graduate PLUS Loan borrowers after July 1, 2026.<\/p>\n<ul>\n<li>Legacy protections will be extended to Graduate PLUS Loan borrowers who meet the following stipulations:\n<ul>\n<li>A student is enrolled in a graduate\/professional program AND;<\/li>\n<li>Has borrowed Federal Direct Loans for the same program before July 1, 2026<\/li>\n<\/ul>\n<\/li>\n<li>Students granted legacy protection will be able to borrow Graduate PLUS Loans for \u201cexpected time to credential\u201d or three academic years, whichever is shorter<\/li>\n<li>Expected time to credential is the difference between program length (at full time enrollment, as published by your school\/college) and period of study completed by the student<\/li>\n<\/ul>\n<h4>PLUS Loans should be requested through <a href=\"https:\/\/studentaid.gov\/plus-app\/\"><span style=\"color: #0000ff;\">StudentAid.gov.<\/span>\u00a0<\/a><\/h4>\n<p>In an effort to provide better understanding about the credit-based PLUS Loan, please review the following counseling steps:<\/p>\n<ol>\n<li>Complete the <a href=\"https:\/\/studentaid.gov\/h\/apply-for-aid\/fafsa\" target=\"_blank\" rel=\"noopener noreferrer\">FAFSA<\/a>, if you have not already done so. This allows SFS to award you any eligible, non credit-based financial aid before utilizing credit-based products<\/li>\n<li>Review the Graduate PLUS Loan <a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/plus\/grad\" target=\"_blank\" rel=\"noopener noreferrer\">interest rate, repayment terms, credit criteria, etc<\/a><\/li>\n<li>Review the<span style=\"color: #0000ff;\"><a href=\"https:\/\/www.bumc.bu.edu\/osfs\/cost-of-attendance-bot\/\" target=\"_blank\" rel=\"noopener noreferrer\" style=\"color: #0000ff;\"> Cost of Attendance for your program<\/a><\/span>, to determine how much you can, and need to borrow<\/li>\n<li>Compare other <a href=\"https:\/\/www.bumc.bu.edu\/osfs\/resources\/types-of-aid\/loans\/creditbasedloans\/\" target=\"_blank\" rel=\"noopener noreferrer\">private, credit-based loan products<\/a>, against the terms of the Graduate PLUS Loan. On the linked page, click on your school to provide more loan options.<\/li>\n<li>Review your current federal aggregate loan debt by logging into <a href=\"https:\/\/studentaid.gov\/\" target=\"_blank\" rel=\"noopener noreferrer\">StudentAid.gov<\/a>. Be advised that federal loans disbursed 30 days or less from today&#8217;s date may not have yet to post on the site.<\/li>\n<li>If you are a new borrower please complete the Federal Student Aid <a href=\"https:\/\/studentaid.gov\/mpn\/grad\/landing\" target=\"_blank\" rel=\"noopener noreferrer\">Graduate PLUS Loan Promissory Note<\/a> and <a href=\"https:\/\/studentaid.gov\/app\/counselingInstructions.action?counselingType=entrance\">Entrance Counseling<\/a><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p>Please be advised that it can take 10-15 business days to process your Graduate PLUS Loan, especially during busier times of the year. A PLUS Loan application must be submitted each time a new PLUS loan is requested \u2013 SFS cannot apply a PLUS Loan without a valid request form on file and PLUS loans do not renew automatically each academic year.<\/p>\n<div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h3 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\">2025-2026 Graduate PLUS Loan Application Instructions<\/h3><div class=\"bu_collapsible_section\" style=\"display: none;\">\n<ul>\n<li>Log into <a href=\"studentaid.gov\">studentaid.gov<\/a><\/li>\n<li>Under Loans and Grants dropdown, click on PLUS Loans: Grad PLUS and Parent PLUS<\/li>\n<li>Select I am a Graduate or Professional Student<\/li>\n<li>Review credit report freeze information<\/li>\n<\/ul>\n<p><img loading=\"lazy\" src=\"\/osfs\/files\/2024\/07\/PLUS-Credit-Freeze-419x300.png\" alt=\"\" width=\"419\" height=\"300\" class=\"alignnone size-medium wp-image-15052\" srcset=\"https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Freeze-419x300.png 419w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Freeze.png 436w\" sizes=\"(max-width: 419px) 100vw, 419px\" \/><\/p>\n<ul>\n<li>Select Academic Year 2025-2026<\/li>\n<li>Choose Boston University under School Information<\/li>\n<\/ul>\n<p><img loading=\"lazy\" src=\"\/osfs\/files\/2024\/07\/PLUS-Award-Year-346x300.png\" alt=\"\" width=\"346\" height=\"300\" class=\"alignnone size-medium wp-image-15053\" srcset=\"https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Award-Year-346x300.png 346w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Award-Year.png 522w\" sizes=\"(max-width: 346px) 100vw, 346px\" \/><\/p>\n<ul>\n<li>Complete demographic information, and advance to Loan Information<\/li>\n<li>\u201cLoan Amount Requested\u201d choose three options:<\/li>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>I want to borrow the maximum Direct PLUS (Cost of attendance \u2013 BU or external funds = PLUS amount)\n<ul>\n<li>The amount can be reduced at a future date<\/li>\n<\/ul>\n<\/li>\n<li>I would like to specify a specific loan amount (split evenly between two semesters)<\/li>\n<li>I don\u2019t know how the amount I want to borrow (you can submit, but may need to resubmit application if you don\u2019t know how much to request)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><img loading=\"lazy\" src=\"\/osfs\/files\/2024\/07\/PLUS-Loan-Info-495x300.png\" alt=\"\" width=\"495\" height=\"300\" class=\"alignnone size-medium wp-image-15054\" srcset=\"https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Loan-Info-495x300.png 495w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Loan-Info.png 508w\" sizes=\"(max-width: 495px) 100vw, 495px\" \/><\/p>\n<p><img loading=\"lazy\" src=\"\/osfs\/files\/2024\/07\/PLUS-How-Much-443x300.png\" alt=\"\" width=\"443\" height=\"300\" class=\"alignnone size-medium wp-image-15055\" srcset=\"https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-How-Much-443x300.png 443w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-How-Much.png 495w\" sizes=\"(max-width: 443px) 100vw, 443px\" \/><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Select Loan Period \u201cBU Medical Campus\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 04\/2025 \u2013 07\/2026\u201d<\/li>\n<li>If requesting a loan for only one semester, select \u201cOther\u201d<\/li>\n<\/ul>\n<p><img loading=\"lazy\" src=\"\/osfs\/files\/2024\/07\/PLUS-Loan-Period-325x300.png\" alt=\"\" width=\"325\" height=\"300\" class=\"alignnone size-medium wp-image-15056\" srcset=\"https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Loan-Period-325x300.png 325w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Loan-Period.png 494w\" sizes=\"(max-width: 325px) 100vw, 325px\" \/><\/p>\n<ul>\n<li>Review Use of Loan Funds authorization<\/li>\n<li>Review Credit Check disclosure, Important Notices, and Certifications and Authorizations<\/li>\n<li>Review all information and verify the application data accuracy<\/li>\n<li>Click Submit<\/li>\n<\/ul>\n<p>Credit decision will come immediately (see messaging below)<\/p>\n<p>Credit approval messaging<\/p>\n<p><img loading=\"lazy\" src=\"\/osfs\/files\/2024\/07\/PLUS-Credit-Approval-546x300.png\" alt=\"\" width=\"546\" height=\"300\" class=\"alignnone size-medium wp-image-15057\" srcset=\"https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Approval-546x300.png 546w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Approval.png 628w\" sizes=\"(max-width: 546px) 100vw, 546px\" \/><\/p>\n<p>Credit denial messaging<\/p>\n<p><img loading=\"lazy\" src=\"\/osfs\/files\/2024\/07\/PLUS-Credit-Denial-609x300.png\" alt=\"\" width=\"609\" height=\"300\" class=\"alignnone size-medium wp-image-15058\" srcset=\"https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Denial-609x300.png 609w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Denial.png 648w\" sizes=\"(max-width: 609px) 100vw, 609px\" \/><\/p>\n<p>Credit pending messaging<\/p>\n<p><img loading=\"lazy\" src=\"\/osfs\/files\/2024\/07\/PLUS-Credit-Pending-650x161.png\" alt=\"\" width=\"650\" height=\"161\" class=\"alignnone size-medium wp-image-15059\" srcset=\"https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Pending-650x161.png 650w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Pending-768x191.png 768w, https:\/\/www.bumc.bu.edu\/osfs\/files\/2024\/07\/PLUS-Credit-Pending.png 1007w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><\/p>\n<p><strong>What next? <\/strong><\/p>\n<p>Your application will be transmitted from studentaid.gov to Boston University. It may still take some time to apply to your MyBU Student Account. However, if you received a PLUS loan credit approval, your PLUS application will be processed, and applied to your account.<\/p>\n<p><\/div>\n<\/div>\n<br \/>\n<div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h3 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\">Federal Financial Aid Credit Authorization (FFACA)<\/h3><div class=\"bu_collapsible_section\" style=\"display: none;\"><\/p>\n<p>Federal regulations require that federal financial aid credited to your student account be applied only to cover allowable charges, unless Boston University obtains authorization to apply these funds to all other charges on your student account. You may submit your authorization electronically on the<span>\u00a0<\/span><a href=\"https:\/\/student.bu.edu\/\" target=\"_blank\" rel=\"noopener noreferrer\">MyBU Student Portal<\/a> under &#8220;Financials &gt; Permissions.&#8221;<\/p>\n<p>Without your authorization, Title IV funds credited to your student account cannot be applied to non-allowable charges.<\/p>\n<p>This may result in a refund being automatically issued to you that creates a balance due on your account. The resulting student account balance becomes your responsibility to repay.<\/p>\n<p>Title IV Federal Financial Aid Funds<\/p>\n<ul>\n<li>Federal Direct Loans<\/li>\n<li>Graduate PLUS Loans<\/li>\n<\/ul>\n<p>Allowable Charges<\/p>\n<ul>\n<li>Tuition<\/li>\n<li>Mandatory fees<\/li>\n<\/ul>\n<p>Non-Allowable Charges (include but are not limited to)<\/p>\n<ul>\n<li>MBTA Pass<\/li>\n<li>Medical insurance<\/li>\n<li>Replacement ID fees<\/li>\n<li>University Health Services fees for service<\/li>\n<li>Other miscellaneous fees<\/li>\n<\/ul>\n<p><\/div>\n<\/div>\n<br \/>\n<div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h3 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\">Graduate PLUS Loan FAQs<\/h3><div class=\"bu_collapsible_section\" style=\"display: none;\"><br \/>\n<strong>What requirements do I need to submit to be approved for the PLUS loan?<\/strong><\/p>\n<p>Please complete the<span>\u00a0<\/span><a href=\"https:\/\/studentaid.gov\/mpn\/grad\/landing\">Graduate PLUS Master Promissory Note<\/a>,<span>\u00a0<\/span><a href=\"https:\/\/studentaid.gov\/entrance-counseling\">Graduate Entrance Counseling.<\/a> Those with adverse credit who appeal the credit decision or utilize an endorser will be required to complete <a href=\"https:\/\/studentaid.gov\/app\/counselingInstructions.action?counselingType=plus\">PLUS loan Credit Counseling<\/a>.<\/p>\n<p>If you completed the MPN and Entrance Counseling before, and received the PLUS loan in the last academic year, you do not need to submit a MPN and Entrance Counseling again.<\/p>\n<p><strong>How do I request a PLUS loan for a single semester?<\/strong><\/p>\n<p>When applying at studentaid.gov, chose the &#8220;Other&#8221; Loan Period.<\/p>\n<p><strong>What is the maximum amount I can borrow?<\/strong><\/p>\n<p>When applying at studentaid.gov, under the &#8220;How much do you want to borrow?&#8221;, select the &#8220;I want to borrow the maximum Direct PLUS loan for which I am eligible, as determined by my school.<\/p>\n<p>Per federal regulations, students may receive a maximum in total financial aid (all sources) up to their annual<span>\u00a0<\/span><a href=\"https:\/\/www.bumc.bu.edu\/osfs\/cost-of-attendance-bot\/\">cost of attendance<\/a>. You can use the COA Calculator to determine the maximum amount of PLUS loan you may request and receive.<\/p>\n<p><strong>I want to cover my health insurance (SHIP) with the PLUS Loan. Do I still need to submit a second application?<\/strong><\/p>\n<p>It depends. If the SHIP has been charged to your account, the PLUS funding should account for the SHIP expenses. However, if there is a change in your SHIP charges, you may need to submit a second application AFTER the first PLUS application has been applied to your MyBU Student account.<\/p>\n<p><strong>I was credit denied\/credit pending. What are the next steps?<\/strong><\/p>\n<p>Please follow the steps provided after your credit decision to determine what you need to do in order to have the PLUS loan credit to your account.<\/p>\n<p><\/div>\n<\/div>\n<\/p>\n<p><script type=\"text\/javascript\" src=\"https:\/\/embed.financialaidtv.com\/cms\/embed\/script\/49528?iid=103767&amp;hd=1&amp;dim=responsive\"><\/script><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IMPORTANT CHANGES TO THE GRADUATE PLUS LOAN: On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) prevents any new Graduate PLUS Loan borrowers after July 1, 2026. Legacy protections will be extended to Graduate PLUS Loan borrowers who meet the following stipulations: A student is enrolled in a graduate\/professional program AND; Has borrowed [&hellip;]<\/p>\n","protected":false},"author":13751,"featured_media":0,"parent":8325,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/pages\/12233"}],"collection":[{"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/users\/13751"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/comments?post=12233"}],"version-history":[{"count":41,"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/pages\/12233\/revisions"}],"predecessor-version":[{"id":15697,"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/pages\/12233\/revisions\/15697"}],"up":[{"embeddable":true,"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/pages\/8325"}],"wp:attachment":[{"href":"https:\/\/www.bumc.bu.edu\/osfs\/wp-json\/wp\/v2\/media?parent=12233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}