Graduate PLUS Loans
Graduate PLUS Loans are Federal Loans available to Graduate and Professional students that can cover up to the total cost of attendance minus other aid received.
Example:
| Total Cost of Attendance | $25,000 |
|---|---|
| Financial Aid Received | - $20,500 |
| PLUS Loan Eligibility | = $4,500 |
Graduate students are required to have completed the Free Application for Federal Student Aid (FAFSA) and must apply their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying. Graduate PLUS Loans are subject to credit approval.
- Low interest rate, currently fixed at 8.50%* APR (July 1, 2009)
- Covers up to 100% of education cost
- Automatically deferred while in school at least half-time
- Eligible for 6-month deferment after dropping below half-time enrollment
- Flexible repayment terms (no prepayment penalties)
- Interest paid may qualify for a tax deduction**
Get pre-approved before you apply to make the application process go more smoothly. If pre-approved, apply online.
| Get Pre-Approved > | Apply Online > |
Important Disclaimers:
- Interest rates are effective 7/1/09. The rates and other information set forth above have been obtained from sources deemed reliable, but do not constitute representations of Commerce Bank, nor shall this be considered an offer by Commerce Bank to fund any loan at rates other than those established by the United States Department of Education.
- Consult a tax advisor for details. IRS Publication 970, Tax Benefits for Higher Education, explains these credits and other tax benefits.
- To send an email that contains confidential information, please visit the Secure Message Center where there are additional instructions about whether to use Secure Email or Online Banking messaging.
