Graduate PLUS Loans

Federal Graduate PLUS Loans are available to graduate students with a good credit history to help pay for educational expenses. (You must be enrolled at least half-time to receive this loan.) The interest rate for the Federal Direct PLUS loan is fixed at 6.31%. Loan fees up to 4.272% may be deducted from your loans by the lender and/or guarantor at disbursement. All loan funds are disbursed in two equal amounts. Funds are disbursed prior to the beginning of each semester and applied to charges on the student's account. Graduate students may borrow up to the total cost of attendance less any student aid received.

How to Apply

Complete the Free Application for Federal Student Aid (FAFSA)

Accept your award on MyWashburn 

  • Select the Financial Services tab
  • Select the Financial Aid Awards link available in the left column
  • Select Aid Year and click Submit
  • Select the “Terms and Conditions” tab - All students must read and accept the terms and conditions before accepting your financial aid. 
  • Select the “Accept Award Offer” tab to accept/decline awards.

Complete the Master Promissory Note (MPN) and Entrance Counseling. Both of these items must be completed by all first-time Washburn University borrowers.

  • Sign in to 
  • Select "Complete Entrance Counseling" and identify whether you are currently an Undergraduate or Graduate/Professional student
  • Select "Request a Direct PLUS Loan" and choose “Graduate PLUS”


PLUS Master Promissory Note

The PLUS Master Promissory Note (MPN) provides an easy application process. You may borrow under one MPN for up to 10 years. However, your lender will conduct a credit check each year that you accept a Graduate PLUS loan.

A graduate or professional PLUS borrower must not have an adverse credit history as that term is defined in the FFEL program regulations at 34 CFR 682.201(b)(2)(ii). To determine whether a borrower has an adverse credit history, a lender must obtain a credit report from at least one national credit bureau that ensures a current and accurate representation of the borrower's credit history as it relates to the first day of the period of enrollment for which the loan is sought. All other requirements concerning determinations of adverse credit also apply. As is the case with parent PLUS applicants, a graduate or professional student PLUS applicant who is determined to have an adverse credit history may receive a Federal PLUS Loan if he or she obtains an endorser who does not have an adverse credit history. The repayment period for a Federal PLUS Loan made to a graduate or professional student begins on the date of the final disbursement of the loan, and the first payment is due within 60 days after the date the loan is fully disbursed. Of course, a graduate or professional Federal PLUS Loan borrower may receive a deferment while he or she is enrolled on at least a half-time basis at an eligible school. Upon dropping to less than half-time enrollment status, the borrower is not entitled to a grace period and there is no authority for lenders to align payments of principal on a student PLUS borrower's Stafford and PLUS loans.

Features and Benefits

  • PLUS funds may cover the full cost of education—including tuition & fees, room & board, books & supplies, transportation costs, and living allowance
  • Available to graduate students regardless of income or assets
  • Requires no collateral.
  • Fixed interest rate at 6.31%.
  • For many students, interest is tax deductible. Check with your tax advisor for details.

Washburn University PLUS Estimated Eligibility*

Total College Cost


Less Estimated Student Financial Aid*

- 20,500

Equals PLUS Graduate Loan Eligibility

$ 3,563

*Estimated Student Financial Aid assumes maximum Stafford Loan eligibility of $20,500.

Complete the FAFSA

When completing the Free Application for Federal Student Aid (FAFSA), please add Washburn University’s federal school code of 001949.

Financial Aid Forecaster

Better understand your options for paying for college. Use the FAFSA4caster to estimate your eligibility for federal student aid.