Graduate PLUS Loan

2024-2025

The University of Rhode Island participates in the Federal Direct Loan Program. This program includes the following loans for the 2024-2025 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 2024-2025 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.

2025-2026

The University of Rhode Island participates in the Federal Direct Graduate PLUS Loan Program. The University receives funds directly from the U.S. Department of Education and disburses (pays) them to eligible students. The student must file a FAFSA (Free Application for Federal Student Aid) for the academic year they would like to receive the loan(s) in order to be eligible for the Federal Direct Graduate PLUS Loan.

These rates are set by the federal government.  Below the interest rate and origination fee is for the Academic Year 2024-2025.  For the Academic Year 2025-2026 the interest rate and origination fee will be announced after July 1, 2025. 

  • PLUS Loan Interest rate – 9.083%
  • PLUS Loan Origination fee – 4.228%

Students borrowing through the Federal Direct Graduate PLUS Loan for the first time at URI must complete the following steps: 

  1. Complete a credit check for a PLUS Loan.
    a. Visit: https://studentaid.gov/
    b. On the right side of the page, look for “Apply for a Direct PLUS Loan” 
    c. Look for “Direct PLUS Loan Application – I am a Graduate or Professional Student” 
    d. Click “Learn More” 
    e. On the bottom right side of the page, click on “Log in to Start”.
    f. Log in using your FSA ID and password to complete the credit check.
    –If approved, continue with Steps 2 and 3.
    -If denied, please review the following options. Do not proceed with Steps 2 and 3.
  2. Complete a Master Promissory Note (MPN) electronically.
    a. Visit: https://studentaid.gov/
    b. On the right side, look for “Complete a Loan Agreement (Master Promissory Note/MPN)”
    c. Look for “I”m a Graduate/Professional Student – PLUS MPN or MPN for Subsidized/Unsubsidized Loans for Graduate/Professional Students” 
    d. Click “Log In to Select MPN Type” to complete the MPN.
  3. Complete the URI supplemental Graduate Loan Application. 
    a. Look for “Academic Year” 
    b. Click “Aid Year 2026”, if you would like to borrow for Fall 2025 and Spring 2026.
    For current students click on “Aid Year 2025”, if you would like to borrow for Spring 2025 or Summer 2025

Credit Checks: Direct Graduate PLUS Loan borrowers are able to authorize and initiate a credit check via the Direct PLUS Loan Request process at any time on StudentAid.gov. 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 student has two options they may pursue. 
Note: Returning student loan applicants with an MPN on file, need only complete the credit check (Step 1) and URI supplemental application (Step 3) each academic year. 

Federal Direct Graduate PLUS Loan Denial Options for Students

Option 1: Appeal the Credit Decision with the U.S. Department of Education

  1. Visit studentaid.gov 
  2. Click “Grants and Loans”
  3. Click “Appeal a Credit Decision” 
  4. Fill out the form and submit. 

There is also the option to appeal over the phone by calling 1-800-433-3243. Once an appeal has been submitted, the U.S. Department of Education will review and provide the parent with a follow up. 

Option 2: Reapply with an Endorser (Co-Signer)

  1. Visit studentaid.gov
  2. At the top click “Loans and Grants”
  3. Click “Endorse a PLUS Loan” 
  4. Enter the students last name and the endorser code. (The endorser code was provided to the student during the original credit check. If the student does not have this number they should contact 1-800-433-3243 for assistance).
  5. The parent must complete a PLUS Loan Credit Counseling