{"id":194,"date":"2012-07-06T15:04:16","date_gmt":"2012-07-06T19:04:16","guid":{"rendered":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/financial_aid\/federal\/"},"modified":"2026-03-02T17:58:32","modified_gmt":"2026-03-02T22:58:32","slug":"federal","status":"publish","type":"page","link":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/loan-programs\/federal\/","title":{"rendered":"Federal Loans"},"content":{"rendered":"\n

The U.S Department of Education<\/a> offers two federal loan programs to Graduate students : Direct Unsubsidized loan<\/a> program and Grad PLUS loan<\/a> (credit approval required).  Undergraduate students may be considered for both Direct Subsidized, Direct Unsubsidized loans and the Parent PLUS loan (under the parent). <\/p>\n\n\n\n

Borrower must be an U.S Citizen or be an eligible non-Citizen<\/a> to apply for federal loan. International non-eligible students: Please see our International Students page.<\/a> Loans are aid that will need to be repaid, with interest, after you graduate or leave college. Most student loans are Direct Loans.<\/p>\n\n\n\n

\n

Ross BBA Undergraduate student aid:<\/strong><\/p>\n\n\n\n

Your financial aid is processed by the main campus University of Michigan Office of Financial Aid<\/a>. Undergraduates you may view loan information on the main campus financial aid website<\/a> or discuss their loan options by contacting Office of Financial Aid at 734-763-6600 or financial.aid@umich.edu<\/a>.  The information below is detailed for Graduate students only.<\/p>\n<\/div>\n\n\n\n

Graduate Federal Direct Loans<\/h2>\n\n\n\n

Note: Federal loan interest rates adjust each July and origination fees adjust October each year.<\/em><\/a><\/em><\/span><\/p>\n\n\n\n

Federal Direct (Stafford) Loan – Unsubsidized – for Graduates<\/a><\/strong><\/h4>\n\n\n\n
FAFSA School Code 002325<\/strong>
Apply at studentaid.gov<\/a><\/h5>\n\n\n\n
Eligibility Criteria<\/strong><\/th>Loan Terms<\/strong><\/th>Additional Information\/Requirements<\/strong><\/th><\/tr><\/thead>
\n

Non-need-based<\/p>\n<\/td>

\n

Maximum borrowing amount $10,250 per semester<\/p>\n<\/td>

\n

Borrower can choose to have the accrued interest capitalized (added to principal balance) or make periodic payments.<\/p>\n<\/td><\/tr>

\n

Student must be enrolled at least half-time in a degree program<\/p>\n<\/td>

7.94%<\/strong> fixed interest rate<\/a> for graduate students effective July 1, 2025.<\/p> Rates changes each 1st of July<\/td>

 No penalty for early pay off. <\/td><\/tr>

Borrower must be a U.S. citizen or eligible non-citizen<\/a><\/p> <\/td>

Loan originated on or after October 1, 2020 and before October 1, 2026 will be subject to 1.057%<\/strong> origination fee. <\/p><\/td>

Typical repayment period is 10 years (other repayment options available; such as, but not limited to, Income Driving Repayment Plans and Public Service Loan Forgiveness).<\/p> <\/td><\/tr>

\n

 <\/p>\n<\/td>

\n

Interest accrues immediately; paid periodically or capitalized<\/p>\n<\/td>

May be eligible for Ross Loan Repayment Assistance Programs<\/a>.<\/a><\/p> <\/td><\/tr>

\n

 <\/p>\n<\/td>

\n

Principal repayment deferred while enrolled at least half-time<\/p>\n<\/td>

\n

Can be consolidated with other federal loans<\/p>\n<\/td><\/tr>

 <\/td>

Visit the Federal Student Aid website<\/a> for the latest loan term information.<\/p> <\/td>

More information is available from the U.S. Department of Education<\/a><\/p> <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/a><\/p>\n\n\n\n

Federal Direct Loan – Graduate PLUS<\/a><\/strong><\/h4>\n\n\n\n
Grad PLUS School Code 002325<\/strong>
Apply at studentaid.gov<\/a><\/h6>\n\n\n\n
Eligibility Criteria<\/strong><\/th>Loan Terms<\/strong><\/th>Additional Information\/Requirements<\/strong><\/th><\/tr><\/thead>
\n

Credit check approval process<\/p>\n<\/td>

\n

Students may borrow up to the cost of attendance minus other financial assistance<\/p>\n<\/td>

Borrower must first <\/em><\/strong>complete the Free Application for Federal Student Aid (FAFSA<\/a>)<\/p> <\/td><\/tr>

\n

Non-need-based<\/p>\n<\/td>

8.94%<\/strong> variable-fixed interest rate<\/a> effective July 1, 2025.
Rates changes each 1st of July<\/span><\/td>		\n

Borrower can choose to have the accrued interest capitalized (added to principal balance) or make periodic payments.<\/p>\n<\/td><\/tr>

\n

The graduate student is the borrower<\/p>\n<\/td>

Loan originated on or after October 1, 2020 and before October 1, 2026 
will be subject to 4.228%<\/strong> origination fee. <\/td>		\n

No penalty for early pay off.<\/p>\n<\/td><\/tr>

\n

Student must be enrolled at least half-time in a graduate-level program<\/p>\n<\/td>

\n

Interest accrues immediately; paid periodically or capitalized<\/p>\n<\/td>

Typical repayment period is 10 years (other repayment options available; such as, but not limited to, Income Driving Repayment Plans and Public Service Loan Forgiveness).<\/p> <\/td><\/tr>

Borrower must be a U.S. citizen or eligible non-citizen<\/a><\/p> <\/td>

Loan is deferred while you are enrolled at least half-time and for an additional six months after you are no longer enrolled at least half-time. Interest accrues during deferment; you may pay accrued interests or allow it to capitalize when deferment ends. Details at the U.S. Dept. of Education<\/a><\/p> <\/td>

May be eligible for Ross Loan Repayment Assistance Programs<\/a>.<\/a><\/p> <\/td><\/tr>

 <\/td>

Visit the Federal Student Aid website<\/a> for the latest loan term information.<\/p> <\/td>

\n

Can be consolidated with other federal loans<\/p>\n<\/td><\/tr>

 <\/td> <\/td>

More information is available from the U.S. Department of Education<\/a><\/p> <\/td><\/tr>

<\/td><\/td>January 2026 UPDATE<\/strong>: Students entering into a new program starting Fall 2026, will not be able to borrow the Graduate PLUS loan. <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Estimating Grad PLUS Loan Eligibility<\/strong><\/h4>\n\n\n\n

Wolverine Access<\/a> > Campus Finances > Financial Planning Calculator > Calculate Private\/PLUS Loan Eligibility<\/em><\/p>\n\n\n\n

Select Calculate Private\/PLUS Loan Eligibility<\/em> to see how much you would be able to borrow through a private loan program or through the Federal PLUS Loan program. (This calculator is not available for the spring and\/or summer terms.)<\/p>\n\n\n\n

The Ross School of Business Office of Financial Aid is a satellite office of the University of Michigan Office of Financial Aid. <\/cite>
 <\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S Department of Education offers two federal loan programs to Graduate students : Direct Unsubsidized loan program and Grad PLUS loan (credit approval required).  Undergraduate students may be considered for both Direct Subsidized, Direct Unsubsidized loans and the Parent PLUS loan (under the parent). Borrower must be an U.S Citizen or be an eligible non-Citizen to apply for federal…<\/p>\n","protected":false},"author":4819,"featured_media":0,"parent":215,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_lmt_disableupdate":"no","_lmt_disable":"","advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","ep_exclude_from_search":false,"footnotes":"","advanced-sidebar-menu\/link-title":"","advanced-sidebar-menu\/exclude-page":false},"categories":[32],"tags":[],"ep_post_type":[29],"class_list":["post-194","page","type-page","status-publish","hentry","category-financial-aid-loan-programs","ep_post_type-page"],"acf":[],"taxonomy_info":{"category":[{"value":32,"label":"Financial Aid Loan Programs"}]},"featured_image_src_large":false,"author_info":{"display_name":"Don DuChateau II","author_link":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/author\/duck\/"},"comment_info":"","coauthors":[],"author_meta":{"author_link":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/author\/duck\/","display_name":"Don DuChateau II"},"relative_dates":{"created":"Posted 14 years ago","modified":"Updated 1 month ago"},"absolute_dates":{"created":"Posted on July 6, 2012","modified":"Updated on March 2, 2026"},"absolute_dates_time":{"created":"Posted on July 6, 2012 3:04 pm","modified":"Updated on March 2, 2026 5:58 pm"},"featured_img_caption":"","featured_img":false,"series_order":"","_links":{"self":[{"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/users\/4819"}],"replies":[{"embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/comments?post=194"}],"version-history":[{"count":29,"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/194\/revisions"}],"predecessor-version":[{"id":4568,"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/194\/revisions\/4568"}],"up":[{"embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/215"}],"wp:attachment":[{"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/media?parent=194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/categories?post=194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/tags?post=194"},{"taxonomy":"ep_post_type","embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/financial-aid\/wp-json\/wp\/v2\/ep_post_type?post=194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}