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Colleges determine eligibility for the Direct Unsubsidized Loan before determining any remaining eligibility for a Direct Graduate PLUS Loan. Therefore, students should wait until their Direct Unsubsidized Loan program eligibility has been determined before applying for the Direct Grad PLUS Loan.

Upon receipt of the email confirming that a Direct Unsubsidized Loan has been processed, students who are interested in borrowing additional funds through the Direct Grad PLUS Program should contact the office of graduate financial aid via email (gradfinancialaid@loyola.edu) to request their Grad PLUS Loan eligibility. Students will receive an email response indicating their maximum eligibility and the Grad PLUS Loan application procedures.

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The proceeds of student loans (federal and private) must be disbursed to Loyola University Maryland and credited to a student's account no later than May 1. Therefore, all loan application procedures, including completion of the loan promissory note and final approval, should be completed at least two weeks prior to the May 1 processing deadline.

Your Grad PLUS loan application will be processed after it is received by the office of financial aid. If there are any issues or questions regarding your application, an email will be sent to your Loyola email account. Otherwise, no formal notification that your Grad PLUS loan was processed will be sent to you. Instead, you may view your Grad PLUS loan via , Loyola’s online administrative access system. Depending on the time of year you submit your application, the minimum timeframe for processing Grad PLUS loans is three days and the maximum is four weeks.

For new borrowers, instructions on how to sign your Grad PLUS Master Promissory note and complete Entrance Counseling will be an option on the .

All borrowers are required to sign the prior to any deposit of loan proceeds.

All first-time borrowers must complete before loan proceeds can be deposited.

The proceeds from a Direct Grad PLUS Loan are disbursed in one, two or three equal payments directly to Loyola University. Loan proceeds are deposited in the student's account upon confirmation that an electronic Direct Grad PLUS Loan master promissory note and online Entrance Counseling has been completed. Students who have borrowed through the Direct Grad PLUS Loan Program in the past and have an active master promissory note on file are not required to complete a new promissory note.

Loan proceeds that result in a credit balance will be available by check within the latter of 14 days after the first day of the enrollment period or 14 days after the loan proceed deposit occurs.

Federal regulations require colleges and universities to notify student loan borrowers of their right to cancel all or a portion of their loan or loan disbursement. No action is required on your part unless you wish to reduce or cancel your loan(s). Requests must be made in writing and should be sent via email directly to the office of graduate financial aid at gradfinancialaid@loyola.edu. You must include the borrower's full name, student ID number, and the name of the loan and the amount to be reduced or cancelled. If the cancellation results in a balance due on your student account, payment will be required immediately.