Federal Loan Types of Graduate Students

There are two types of federal loans available to graduate students: Federal Direct Unsubsidized Loans and Federal Direct PLUS Loans.

Federal Direct Unsubsidized Loan

A Federal Direct Unsubsidized Loan is available to students regardless of financial need and does not require a credit check. The student is responsible for paying any interest that accrues.

Eligibility Criteria
  • Be a graduate or professional student
  • Be enrolled in at least half-time per semester (5 credits or more)
  • Meet Satisfactory Academic Progress (SAP)
  • Have a completed FAFSA on file for the current aid year
  • Be in good loan standing (not in default)

Federal Direct PLUS Loans

A Direct PLUS Loan is commonly referred to as a Grad PLUS loan. The U.S. Department of Education is the lender. The maximum PLUS loan a student can borrow is the cost of attendance minus any other financial assistance that is received. Students must not have an . Students can apply for a Grad PLUS loan through .

Eligibility Criteria
  • Be a graduate or professional student enrolled at least half-time (at least 5 credits)
  • Meet the general eligibility requirements for federal student aid
  • Be in good loan standing (not in default)
  • A credit check will be performed during the application process.
    • Students who have adverse credit history may still receive a Grad PLUS loan through one of these two options:
      • Obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Grad PLUS loan if you do not repay it.
      • Providing the U.S. Department of Education documentation that there are extenuating circumstances related to your adverse credit history.
    • With either loan option 1 or option 2, a student must complete .
    • Credit checks are valid for 180 days from the approval date. If an endorser was used and a change in the loan amount is needed to increase the loan, a new credit check will be required.

Receiving Your Federal Loans

Students can complete the following steps in order to receive their Federal Direct Loans

  • Accept loans in MyUNLV and specify any amount to receive, up to the amount offered.
  • Complete through Federal Student Aid. Entrance counseling ensures students understand the terms and conditions of their loans.

Complete the through Federal Student Aid which is a legal document in which a student promises to repay their loans and any accrued interest and fees to the U.S. Department of Education.

2024-25 Aid Year Interest Rates and Fees

Interest Rates for Federal Direct Unsubsidized Loans and Grad PLUS Loans First Disbursed On or After July 1, 2024, and before July 1, 2025
Loan Type Borrower Type Fixed Interest Rate
Direct Unsubsidized Loan Graduate or Professional 8.083%
Grad PLUS Loan Graduate or Professional 9.083%
Loan Fees for Federal Direct Unsubsidized Loans and Federal Direct PLUS Loans
Loan Type First Disbursement Date Loan Fee
Federal Direct Unsubsidized Loan On or after Oct. 1, 2020 and before Oct. 1, 2024 1.057%
Federal Direct PLUS Loan On or after Oct. 1, 2020 and before Oct. 1, 2024 4.228%

2023-24 Aid Year Interest Rates and Fees

Interest Rates for Federal Direct Unsubsidized Loans and Grad PLUS Loans First Disbursed On or After July 1, 2023, and before July 1, 2024
Loan Type Borrower Type Fixed Interest Rate
Direct Unsubsidized Loan Graduate or Professional 7.05%
Grad PLUS Loan Graduate or Professional 8.05%
Loan Fees for Federal Direct Unsubsidized Loans and Federal Direct PLUS Loans
Loan Type First Disbursement Date Loan Fee
Federal Direct Unsubsidized Loan On or after Oct. 1, 2020 and before Oct. 1, 2024 1.057%
Federal Direct PLUS Loan On or after Oct. 1, 2020 and before Oct. 1, 2024 4.228%

Annual Federal Direct Unsubsidized Loan Limits for Graduate Students

Student Type Loan Limit
Graduate or Professional Student Annual & Lifetime (Aggregate) Loan Limit

$20,500

$138,500 for graduate or professional students - no more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.