Graduate PLUS Loan - What is a Grad PLUS loan

From UConn OSFAS Loan Counseling

Section 2: What is a Grad PLUS loan?

The Grad PLUS Loan is a federally regulated loan.

This loan is not based on financial need. The maximum you can borrow is the Cost of Attendance as certified by UConn minus any other aid you have received. Interest accrues on this loan type immediately after disbursement. Interest and principal payments are not required while you are in-school at least half time, but you have the option of making payments at any time. Making payments on the interest while you are still in-school will prevent the interest from capitalizing (being added into your principal balance so you are paying interest on interest) after you graduate.

The loan principal is deferred while you are enrolled in school on at least a half-time basis. After you graduate, withdraw, or drop below a half-time status, your first payment will be due within 60 days. There is no grace period on the Grad PLUS Loan.

If you return to school at least half-time after withdrawing or dropping below half-time enrollment, you will be eligible for another in-school deferment.

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