Uniting to Save Grad PLUS

ED to MED stands with its 18 national partners and other allied groups in support of the Federal Graduate PLUS Loan Program.

What Is Grad PLUS?

Grad PLUS loans are federal Direct PLUS Loans that help graduate and professional students finance the full cost of their education. Grad PLUS loans are not capped, covering the total cost of attendance, minus any other financial aid received, and can be used to pay for tuition, textbooks, room and board, and other important living expenses. Grad PLUS loans are managed by the U.S. Department of Education.

Why Save Grad PLUS?

In December, the House Education and the Workforce Committee passed the PROSPER Act, Republican legislation that would replace the Direct Loan Program, including Grad PLUS loans, with a new Federal ONE Loan Program with limited borrowing for medical and other health professions students.

If Grad PLUS loans are eliminated and replaced with the Federal ONE Loan Program, students who need to borrow additional funds will be forced into the private loan market. Grad PLUS loans provide benefits private loans do not, such as fixed interest rates, loan forgiveness options*, and income-driven repayment plans.

Did You Know?

• Graduate students are the least likely to default on their loans (6.6%), and those with Grad PLUS loans default even less (5.9%).
• The borrowing caps proposed in the PROSPER Act would leave a nearly $93,000 funding gap for the average osteopathic medical student to support their training over a four-year period.
• Seventy percent of osteopathic medical students who graduated in the 2017-2018 academic year relied on Grad PLUS loans.

* The PROSPER Act would also eliminate the Public Service Loan Forgiveness (PSLF) Program for new borrowers. Learn how you can advocate to #SavePSLF through the ED to MED campaign.

What Can You Do?