Increasing an Existing Federal Direct Graduate PLUS Loan
What to Know Before Requesting a Graduate PLUS Loan Increase
- Fordham’s academic year begins with the fall term and ends with the summer term.
- If you do not have a Graduate PLUS Loan in place for this academic year, here’s how to apply.
- If you choose a loan period that includes more than one term, your total loan amount will be spread evenly across the number of terms you choose
- There is a 4.228% origination fee deducted from each loan disbursement. To calculate the total loan amount you should request, divide the amount you need by 0.95764.
- For example: if you need $8,000 to cover your expenses, request $8,354. ($8,000/0.95764 = $8,353).
Requesting your Graduate PLUS Loan Increase
If your existing Graduate PLUS Loan did not require an endorser, request an increase through Fordham.
If your existing Graduate PLUS Loan required an endorser, you must complete a new Application for a Graduate PLUS Loan through the Department of Education.
-
- Get an Endorser - An endorser is someone who agrees to repay the Graduate PLUS Loan if you do not repay it.
- Appeal your credit decision by documenting extenuating circumstances
** If you are subsequently approved after using one of these options you must complete PLUS Credit Counseling before your loan will disburse.