Graduate PLUS Loans

A graduate student may apply for a Federal PLUS loan to assist with educational expenses. 

Eligibility requirements

  • You must have a FAFSA on file with Wayne State University.
  • You must be enrolled at least half-time at the time of disbursement and meet the federal student eligibility requirements for financial aid.

A credit check will be performed by the U.S. Department of Education is part of your application process. You must not have an adverse credit history. If you have an adverse credit history, you may still be able to receive a PLUS loan if you meet additional requirements.

How to apply for a PLUS loan

You need to complete the Graduate PLUS Loan application every time you want to borrow:

  • Login at with your FSA ID to start the online application.
  • Select "Wayne State University" as your school.

Only new borrowers also need to complete the following:

Direct Graduate PLUS Entrance Loan Counseling
Direct Graduate PLUS Loan Master Promissory Note (MPN)

Requesting an increase or decrease

Log in at with your FSA ID to apply for a loan increase. WSU will receive this information and review your eligibility before certifying an increase.

To request a loan reduction or cancellation, complete the PLUS Loan revision form available on our forms page.

PLUS loan limits and disbursements

The academic year limit is equal to your cost of attendance minus all other financial aid, including scholarships, grants and stipends.

  • Loans will be processed for the fall/winter period and are generally disbursed at the beginning of each semester. Spring-summer is a separate semester. If you need funds during this semester, apply for a new loan at
  • If you are in the MD program, loans will be processed for the entire semester. The second disbursement will occur after one half of your academic period has been completed.

PLUS interest rate and loan fee

A loan fee will be deducted prior to disbursement - consider this when you are planning your yearly budget.

  • Loans first disbursed 7/1/2023 - 6/30/2024 will have a fixed interest rate of 8.05%.
  • Loans first disbursed 7/1/2024 - 6/30/2025 will have a fixed interest rate of 9.083%.
  • The loan fee for loans first disbursed on or after 10/1/2020 and before 10/1/2024 is 4.228%.

PLUS repayment

Your loan accrues interest from the time it is disbursed. You must begin payments when you cease to be enrolled at least half-time.

  • There is no payment grace period for a Graduate PLUS loan. For deferment options, please contact the loan servicer or visit the website for more information about loan repayment options.

PLUS denial options

PLUS applicants will receive a credit decision once the application is completed. If the applicant receives a credit denial, the decision will include instructions to appeal or apply with an endorser.