Federal Direct Loan Limits
Beginning Fall 2007, annual loan limits are:
- $20,500 for graduate and professional students. Beginning 2012-2013, graduate and professional students are eligible to receive unsubsidized loans only.
Aggregate loan limits are:
- $138,500 for graduate and professional students (including undergraduate borrowing).
Direct Graduate PLUS Loans
Direct Graduate PLUS loans enable independent graduate students with good credit histories to borrow up to cost of attendance, less any other aid received.
The student must be fully admitted to the Graduate School at UTC and enrolled at least half time.
Undergraduate students taking graduate level classes are not eligible.
The student must complete the FAFSA and all other financial aid requirements.
The student must accept the maximum eligibility of $20,500 under the Federal Direct Unsubsidized Loan Program for the CURRENT aid year. Typically, in-state graduate students will not be eligible for the Graduate PLUS Loan until (possibly) summer due to UTC's low cost of attendance and, therefore, the student's inability to accept the full $20,500.
These loans require a borrower credit check and in some cases, a co-signor.
These students need not submit the PLUS Information Form to UTC.
Students must adhere to all UTC enrollment and Satisfactory Academic Progress standards in order to be eligible for PLUS loan funds.
The repayment period for a Direct Graduate PLUS Loan begins at the time the loan is fully disbursed, and the first payment is due within 60 days after the final disbursement. However, students may defer repayment while enrolled at least half-time.
Interest rate information is available at: Federal Student Aid - Interest Rates and Fees.
Direct Graduate PLUS Loan Procedures
Direct Graduate PLUS loans enable independent graduate students, with good credit histories to borrow up to cost of attendance, less any other aid received. Financial Aid for graduate students is typically limited to departmental scholarships and student loans.
- The student must complete the FAFSA and all other financial aid requirements. Please note, if you plan to begin in the summer semester, you would ensure UTC has the FAFSA for the appropriate academic year (i.e. - attending summer 2020, you would file the 2019-2020 FAFSA).
- The Graduate PLUS Loan application is completed online at studentloans.gov.
- If pre-approved, the borrower must complete a Master Promissory Note. First time PLUS borrowers must complete an Entrance Loan Counseling.
- The Department of Education electronically transmits the approval or denial to the UTC Financial Aid & Scholarship Office within 72 hours.
- The approval is certified by UTC. Denial processing is not available for independent graduate students. Allow a minimum of 5 business days for internal processing.
- Funds are released electronically by the Department of Education typically within 7 days of the certification, provided the Department of Education has received all relevant documentation from the borrower.
- EXIT Loan Counseling must be completed once the student graduates or each time the student drops below half time or is no longer enrolled at least half time.
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