Grad PLUS Loan Program
Posted: May 01, 2009
Often at this time of year students are looking at avenues for financing their education and bridging the gap between their financial aid package and the cost of attending our MSW program. There is a relatively new option for MSW students: Federal Direct PLUS Loan for Graduate Students (Grad PLUS).
Recent legislation now allows graduate students to borrow through the Federal Direct PLUS program. The Grad PLUS program is a non-need-based federal loan with a fixed 7.9% interest rate. Grad PLUS allows graduate students to borrow up to the full cost of attendance, minus any other financial aid they are receiving.
To apply for a Grad PLUS loan visit the Office of Financial Aid (OFA) website:
www.finaid.umich.edu
OFA can also be reached via phone at 734-763-6600. As always, students should feel free to contact our office with questions: socialwork@umich.edu or 734-936-0961.
