Are there fees on GradPLUS loans?
The federal regulations call for 4% fee to be charged on the loan amount. These fees are structured in such a way that they are charged against the loan amount and the fee is removed prior to disbursement. Basically, they take the money out up front. There is an up-front 1.5% rebate. To retain the up-front rebate, borrowers who are in loan repayment must make the initial 12 consecutive monthly payments on time.
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