Federal Student Loans for Graduate Students
Federal student loans are provided by the U.S. Department of Education and are designed to help you finance your education with borrower protections and flexible repayment options.
NOTE: In accordance with U.S. Department of Education regulations (HEOA 489 amended HEA Sec.485B) a student (or parent) title IV loan information is submitted to National Student Loan Data System (NSLDS). Authorized agencies, lenders, guarantors, servicers and institutions have access to this information. For more loan information student and parent borrowers can visit StudentAid.ed.gov.
For many students, federal loans are the first option to consider before exploring private loans.
Types of Federal Loans
Direct Unsubsidized Loans
Federal Loan Updates & Important Changes
Federal loan programs and eligibility requirements may change based on federal legislation or Department of Education guidance. We encourage you to review current updates frequently.
Direct Unsubsidized Loans are available to eligible graduate students regardless of financial need.
Key features include
- Fixed interest rate set annually by the federal government
- Interest accrues while you are enrolled (though can be paid quarterly)
- Annual and lifetime borrowing limits apply
- Up to $10,250 per term
- Up to $100,000 in graduate level borrowing
- No credit check required
You must be enrolled at least half-time (5 credits) and complete the FAFSA to be eligible.
Graduate PLUS Loans
Graduate PLUS Loans are federal loans available to graduate who have borrwed a direct loan prior to July 1, 2026 in their current program of study and who need additional funding beyond the Direct Unsubsidized Loan limits.
Key features include
- Credit-based eligibility (adverse credit review required)
- Fixed interest rate
- Borrowing up to the cost of attendance, minus other financial aid
- Larger origination fee (4.228%), added to the loan amount borrowed
A FAFSA and a separate Graduate PLUS Loan application are required.
Repayment & Borrower Protections
Federal loans offer certain benefits, including:
- Income-driven repayment plans
- Deferment and forbearance options
- Possible Loan forgiveness (eligibility varies)
Understanding these options can help you plan for repayment both during and after your program.
Next Steps
- Complete the FAFSA
- Review your financial aid offer
- Complete a loan adjustment form if you would like to adjust your loan offer
- Complete required loan counseling and promissory note(s)
Questions? We are here to help.
Office of Student Financial Services
Student Financial Services is here to assist students and families with managing the cost of higher education and questions about financing your education at Simmons.