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Through the Federal PLUS Loan Program, graduate students may borrow up to the cost of education less any other financial aid received by the student. To apply for a Graduate PLUS Loan, a student must:
• complete the FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)
• initiate an application. If you choose one of the recommended lenders below, simply call AES/PHEAA at 1-800-692-7392, or visit their website at www.aesSuccess.org.
• complete a Master Promissory Note (MPN), After “applying” as instructed above, the MPN will be sent to you to sign; or you can sign on-line at the www.aesSuccess.org website.
The Federal Graduate PLUS Loan is a credit-based loan with a fixed interest rate of 8.5%, with default and origination fees of 3%. Students must be enrolled at least half-time in a degree-seeking program to access a Graduate PLUS loan.
Federal Grad PLUS Loan Recommended Lender List
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Chase
Lender Code: 811571KB
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Citizens Bank of PA
Lender Code: 833880KB
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Edamerica
Lender Code: 831453KB
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National City
Lender Code: 810418KB
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PNC
Lender Code: 809921KB
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SunTrust
Lender Code: 811304KB
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Wachovia
Lender Code: 813830KB
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These recommended lenders provide opportunities for electronic processing/servicing and quality customer service.
For additional information about the Federal Graduate PLUS Loan, students can click here.
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