Graduate PLUS Loan

2024-25

The University of Rhode Island participates in the Federal Direct Loan Program. This program includes the following loans for the 2024-25 academic year:

  • Unsubsidized loans
    • Interest rate – 8.083%
    • Origination fee – 1.057%
  • Graduate (PLUS) loans
    • Interest rate – 9.083%
    • Origination fee – 4.228%

The University receives funds directly from the U.S. Department of Education and disburses them to eligible students. You are not required to submit a separate bank loan application to receive your loan funds. However, you must have a 2024-25 FAFSA on file with URI.

Graduate students borrowing through the Federal Direct Loan Program (unsubsidized) for the first time at URI must complete the following steps:

  • Accept the Federal Direct Loans offered to the student via e-Campus through the student’s e-Campus account.
  • Complete Entrance Counseling for students here and click on the Entrance Counseling link.
  • Complete a Master Promissory Note (MPN) for students electronically here.

Graduate students borrowing through the Federal Direct Graduate (PLUS) Loan Program for the first time at URI must complete the following steps:

  1. Log on to the Direct Loan website and complete a credit check.  If approved, continue with Steps 2 and 3.

    Credit Checks:  Direct Graduate (PLUS) Loan borrowers will be able to authorize and initiate a credit check via the Direct PLUS Loan Request process at any time here. The borrower will receive the results of a borrower-initiated credit check immediately. The credit check decision will be good for 180 days.

    If the credit check is not approved, the borrower is asked how they wish to proceed, such as not pursuing a Direct PLUS Loan, obtaining an endorser, or appealing the credit decision. Regardless of the borrower’s choice, a paper Endorser package will be sent to the borrower.
  2. Complete a Master Promissory Note (MPN) in the student’s name.
  3. Complete the URI supplemental Graduate (PLUS) Loan application. This will be available after April 15.

Note: Returning Graduate (PLUS) loan applicants with an MPN on file, need only complete the credit check (step 1) and URI supplemental application (step 3) each academic year.