|Contact Information for Financial Aid|
|Phone||(877) 666-0014 (Toll Free)|
|Fax||(775) 784-1025 and (775) 327-5019|
Fitzgerald Student Services Building
|Address||1664 N. Virginia Street
Reno, NV 89557-0076
To borrow the Graduate PLUS Loan, please read all the information below and complete and submit the Graduate PLUS Loan Activation Form.
This is a loan program for graduate students. The borrower is required to file a Free Application for Federal Student Aid (FAFSA) and have considered your Stafford loan eligibility for the academic year. The borrower is required to pass a credit check and also meet the general eligibility requirements for federal financial aid. For example, you must meet citizenship requirements and may not be in default or owe a refund to any financial aid program. You must also be enrolled at least half-time, and eligible for aid including Satisfactory Academic Progress requirements.
The yearly maximum on a Graduate PLUS Loan is equal to the student budget minus other financial aid/scholarships. For example, if your student budget is $19,600 and you were offered $18,500 in other financial aid/scholarships, you could borrow up to - but no more than - $1,100 in Graduate PLUS. The Offer Letter identifies the student budget and all available financial aid/scholarships. You can view the most recent Offer Letter via MyNEVADA at under "Communication Center".
The interest rate on the Direct Graduate PLUS Loan is fixed at 7.9%. Interest is charged from the date the first disbursement is made until the loan is fully repaid.
Yes, you will pay a fee of up to 4.204% of the loan amount. This fee is deducted proportionately each time a loan disbursement is made. A portion of this fee goes to the federal government to help reduce the cost of the loans.
If approved, the Direct Loan Servicing Center electronically disburses funds to the University. One-half of the total loan, minus fees, is disbursed each semester. The funds are used to pay all outstanding obligations to the University. Funds remaining after all University charges are paid are made payable to the student through direct deposit to a checking account or by check mailed from the Cashier's Office. You may change your mailing address via MyNEVADA.
Yes, our office notifies you in writing whenever funds credit the student's account. You may cancel all or a portion of the loan in writing within 14 days after the date of the notice. If you cancel the loan, tuition, fees, and other charges must be paid by the semester fee payment deadline or arrangements made with the Cashier's Office for a deferred payment plan.
Repayment begins within 60 days after the 2nd disbursement for the academic year. There is no grace period, so interest begins to accumulate at the time the first disbursement is made. The graduate student borrower must begin repaying both principal and interest while the student is in school. Borrowers have the option to contact their servicer to inquire about a forbearance while in school.
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education (hereinafter will be called "the Lender") rather than a bank or other financial institution.