- Federal GradPLUS Loan borrowers may be a graduate or professional student enrolled at least half-time in an eligible program.
- Borrowers must complete the need analysis application, Free Application for Federal Student Aid (FAFSA).
- Interest rate is a fixed rate of 8.5%.
- Federally mandated credit checks are performed on all prosective borrowers wishing to borrow under the Federal GradPLUS Program.
- Interest begins to accure on the loan from the date the first disbursement is made until the loan is paid in full.
- Borrowers may be assessed fees up to 4% of the total loan amount. These fees are deducted proportionately from each disbursement of the loan.
- Student will receive an in-school deferment and may be eligible for a 6 month forbearance to align entry into repayment with Federal Stafford loans.
- Loan proceeds will be sent directly to the school the student is attending. In most cases, the loan will be disbursed in at least two (2) equal installments. The disbursement dates are determined by the school.
- The loan request can not be processed until the Federal PLUS Loan Application and Master Promissory Note is received by Simmons First.
The Application should be mailed to:
SIMMONS FIRST
P.O. BOX 7408
PINE BLUFF, AR 71611
By signing the Master Promissory Note, you are entering into a legal and binding contract. You are required by Federal law to repay the full amount borrowed.
- Five (5) repayment plans are available to fit a variety of individual income levels as you repay your student loan.
Click here to find the plan that best suits your needs.
To better serve borrowers and schools, Simmons First now offers the PLUS Loan Pre-Approval Program. Once a request is received, we will obtain and review a borrower's credit report. Both approvals and denials are followed up with appropriate application materials and/or written correspondence. Agree to the Important Disclosures then complete for the Simmons First Federal PLUS Loan Pre-Approval Credit Request online.
Prefer a printable version? Click on the link below then fax or mail the completed form to Simmons First.
Simmons First Federal PLUS Loan Pre-Approval Credit Request (printable version)