Students enrolled in a program leading to a Master's Degree may borrow from the Federal PLUS Loans for Graduate program. This loan requires that you complete the Free Application for Federal Student Aid (FAFSA). Also requires a separate application process through a lender. Applicants for this loan are subject to a credit check by the lender. Repayment begins 60 days after the final disbursement of the loan. The interest rate on this loan is fixed at 7.21%.