| If paying for your undergraduate education wasn't hard | | | | money and make it easy to budget your finances. |
| enough, finding ways to cover your graduate school | | | | One of the nice things about the Graduate PLUS loan |
| expenses can be impossible. Often working while | | | | is the ability to defer payments until you are finished |
| attending graduate school, most students would do just | | | | with school. This way you're able to focus on your |
| about anything to keep from having to take out more | | | | classes and worry about paying your loan back after |
| student loans. | | | | you've graduated and are hopefully working a high |
| Unfortunately, there are only so many things you can | | | | paying job. |
| do, short of robbing a bank (not recommended), to | | | | You won't need a cosigner to help you get the loan, |
| come up with the cash to pay for school outright, so | | | | either, which makes things easier. All lenders require is |
| students have no choice but to take out graduate | | | | a brief credit check to make sure you haven't recently |
| school loans. | | | | defaulted on any other loan payments. Once you clear |
| The good news is there are loans specifically for | | | | that red tape you will be able to request a loan up to |
| graduate students that try to make the entire process | | | | the total amount of tuition, room and board, minus any |
| as easy on the student as possible. | | | | other financial aid you'll be receiving. |
| The Graduate PLUS Loan | | | | It's common to be in a situation where paying for |
| The federal government has a loan specifically for | | | | school is difficult, but thanks to the Graduate PLUS |
| graduate students called the Graduate PLUS Loan. It | | | | Loan, many students are able to avoid taking out |
| has a low, fixed interest rate, meaning it will stay the | | | | pricey private student loans that usually have much |
| same until the loan is completely paid off. This is good | | | | higher interest rates and are less flexible in their |
| because it prevents surprise due bills if the interest rate | | | | repayment structure. |
| were to suddenly jump. Fixed rates will save you | | | | |