PLUS (Graduate Student) Loan
The Higher Education Reconciliation Act of 2005 permits a graduate student who has been fully admitted to a Masters or Education Specialist degree program to be considered for funding from the Federal PLUS Loan program. Prior to the passage of this law, only parents of eligible undergraduate students could qualify for Federal PLUS Loan assistance.
However, due to the low overall cost of attending the University of Central Missouri (even for non-residents of Missouri) very few UCM graduate students have a sufficient level of financial need to borrow from the Federal PLUS Loan program. This is because graduate students can already be considered for up to $20,500 per award year (in accordance with the student's assigned Federal Cost of Attendance) in Federal Stafford Loan with no credit history check. Therefore, PLUS Loan funding (which always requires a credit history check and carries with it a much higher interest rate) is not available for graduate students who attend the University of Central Missouri.