Twin States Federal Credit Union and ESF offer the GradPLUS Loan for graduate and professional students who need money for college expenses in addition to other financial aid. 

Not all schools participate in this loan program - please check with your school to see if they are participating in the FFELP GradPLUS Loan Program.

Important Facts about the GradPLUS Loan 

	The loan is not based on financial need.
	A credit check is required to ensure the applicant does not have adverse credit history.
	The eligible loan amount cannot exceed the student’s cost of attendance less other financial aid.
	Applicants must file the FAFSA annually after January 1 of each year.
	Applicants should request the maximum Stafford Loan amount before applying for a GradPLUS loan.
	Repayment begins within 60 days after final disbursement of the loan; however, ESF defers GradPLUS Loans while the student is enrolled at least half-time.
	The borrower is responsible for interest which accrues on the loan from the date of the first disbursement; however, interest can be deferred.
	The borrower may take up to 10 years to repay.

• 3% origination fee
• 0% - 1% default fee, based on guarantor of the loan

GradPLUS Loans have a fixed interest rate of 8.5% set by the federal government.

Ready to apply?

Some colleges and universities require Pre-approval before certifying your loan.

You should not apply more than 90 days prior to the beginning of the loan period to avoid an additional credit check pulled on your record.  If you do not know the specific loan period start date, please refer to the suggested time-frame for requesting a pre-approval.

• Fall semester enrollment: Apply no earlier than June 20
• Spring semester enrollment: Apply no earlier than October 15
• Summer semester enrollment: Apply no earlier than March 15

If Pre-approval is required, you may click on the icon to be taken to a secure site to apply on-line for convenient pre-approval with instant notification. 

If your school directs you to your lender to complete a Master Promissory Note (MPN), you may click here to apply online and esign if you wish, or you may click here to access a document which you may print out, complete, and submit by mail. 

Need assistance? Call us toll free at 800.986.4322 or send an email.