What is a “Federal GradPLUS loan”?
The GradPLUS is very similar to the Parent PLUS except the GradPLUS is only for students in a graduate or professional program of study; the student is the borrower rather than the parent. Graduate/professional students must apply for federal Stafford loans before they can utilize the GradPLUS. Students must file the FAFSA to be eligible for the GradPLUS.