Financial Aid

PLUS Loans - Graduate or Professional Students

Graduate or professional students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS Loans. These requirements include: a determination that the applicant does not have an adverse credit history, first repayment due within 60 days of the date of the last disbursement of loan. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Unsubsidized Loan Program before applying for a Graduate/Professional PLUS Loan.
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If you would like to apply for Graduate PLUS Loan, complete the Graduate PLUS Loan Application Form (below) and return it to your office. If you are a first time borrower you must also complete the Grad Entrance Counseling and the Graduate PLUS Master Promissory Note (MPN).

  1. Graduate PLUS Loan Application
    The Graduate PLUS Loan Application process will access your credit history to determine whether your loan will be approved or denied. If the loan is approved, first time borrowers must also follow the online instructions to complete the Entrance Counseling and Graduate PLUS Master Promissory Note.

  2. Graduate PLUS Entrance Counseling
    You will need to sign electronically using your federal FSA ID, which can be obtained by visiting the FSA ID on When you have the FSA ID number sing in to Once you begin the Entrance Counseling, you will choose the option to indicate you are a graduate/professional student. Proof of completion will be received by ISU Financial Aid Office in mid July.

    The Graduate PLUS Entrance Counseling requirement applies only to first time Graduate PLUS borrowers for PLUS loans disbursed after July 1, 2008. If you have previously borrowed a Graduate PLUS Loan at ISU, you do not need to complete entrance counseling again.

  3. Graduate PLUS Master Promissory Note (MPN), required for the first time Graduate PLUS Loan borrowers at ISU, is the legal document you must sign agreeing to pay back your loan. Complete and sign the Federal Graduate PLUS Loan MPN electronically at using your federal FSA ID.
    Proof of completion
    will be received by ISU Financial Aid Office in mid July.

    Even if you have previously borrowed a Graduate PLUS Loan at ISU, you will need to complete the
    ISU Grad PLUS Loan application form annually. Credit checks are completed each year of application.

As a graduate student seeking financial aid, you may face situations unique from those that undergraduate and applied technology students encounter.

Examples of those unique situations include:

New Loan Disbursement Rules

Two Loan Disbursements Are Required for All Federal Loans and a 30-Day Delay on First Disbursements for First-time, First-year Borrowers

Federal regulations require that all Direct Loans (subsidized, unsubsidized and PLUS) must be disbursed in two disbursements based on your enrollment period. The first disbursement for first-time, first-year borrowers will be 30 days after the beginning of the first semester enrolled at least half-time. For additional information see "Loan Disbursement Changes".

Changes to Direct PLUS Loan Programs
- Effective March 2015

There are a few changes coming to the Federal Direct PLUS loan programs (Parent PLUS and Graduate PLUS) effective March 29, 2015. We wanted to make you aware of these changes as they may impact you or your parent if you choose to participate in one of the PLUS loan programs. See Changes to Direct PLUS Loan Programs - Effective March 29th, 2015


The repayment period for a Direct Plus Loan begins when the loan is fully disbursed, and the first payment is due 60 days after the final disbursement. However, you may defer repayment while you are enrolled at least half-time (5 graduate credits). To learn more about repayment plans, go to the Repayment Information page of Federal Student Aid on the Web.

Exit Counseling...

Students must complete Exit Counseling when dropping below 5 graduate credits or upon graduation.


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