GradPLUS Loan
Students should not complete a Request for a Direct GradPLUS Loan (which includes a credit check authorization) and/or a Direct GradPLUS Master Promissory Note (MPN) prior to May 1, 2014. If it is completed before May 1st, the required credit check may expire and funds will not disburse.

The GradPLUS loan request and Master Promissory Note can be found at You will need your four digit PIN to e-sign the note.

Interest Rate and Fees
The Federal Direct Loan Program sets interest rates on an annual basis and the rate assigned at disbursement is fixed for the life of the loan. Interest rates are fixed by the Department of Education based on a rate formula that uses the “high yield of the 10 year Treasury Bill rate sold at the prior to June 1plus factor (add-ins) points. The rates are capped and cannot exceed the cap regardless of the formulas results. Interest rates are set in June for loans disbursed on or after July 1. The Chart below shows the rate formulas and caps:

Loan Type Rate Formula Cap
Undergraduate Subsidized/Unsubsidized Loans T-bill + 2.05% 8.25%
Graduate Unsubsidized Loans T-bill +3.60% 9.50%
PLUS Loans (Graduate and Parent) T-bill + 4.60% 10.50%

Parent PLUS and Graduate PLUS loans have a fixed interest rate of 7.21% for loans disbursed between July 1, 2014 and June 30, 2015. A origination fee of 4.292% will be charged by the Department of Education at disbursement as of October 1, 2014. Origination fees and interest rates may change due to congressional action.

Application Process
The Request for a Federal Direct GradPLUS loan and GradPLUSMaster Promissory Note can be found at You will need your four digit PIN to e-sign the note. You must complete a separate “Request for a Federal Direct GradPlus loan each academic year. New Students and those who have not previously borrowed must “Complete a Master Promissory Note for GradPLUS Loan. If you have borrowed previously on your own credit at Widener Law in the graduate program, you should not need to complete another MPN.

We encourage you to use the 2014-15 Award Letter Handout ( to determine your GradPLUS eligibility and tuition balance before completing the application/MPN. All students are charged tuition based a per-credit rate and requesting the maximum allowed by Widener University School of Law and your cost of attendance may result in a loan that is too large for your needs.

Please refer to the Guide to Fees and Payment to determine your program’s tuition charge.

The more you borrow now, the higher your loan repayment amount will be upon graduation.

Requested Loan AmountPlease be aware the application only provides three options when requesting a loan amount:
  • either the maximum allowed by Widener and your personal cost of attendance or
  • student requested loan amount or
  • Unknown – students indicating this status will be contacted by the Financial Aid Office prior to certifying a loan amount.
If you request a loan amount and intend it to be a one semester only loan, you should indicate one term loan period on your application. If you need to make adjustments to your loan period or amount, you may complete the GradPLUS Special Processing Form to inform the Financial Aid Office of your intentions.

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