Graduate school is not only expensive as far as tuition is concerned; it is also expensive for the student because it is so time consuming and holding down a full time job is nearly impossible. Often times the student needs an additional loan to help with everyday living expenses, including rent. Since the Graduate plus loan is a Federal student loan it has to be processed through the school. This means that you apply for the loan through a lender…and that lender sends the loan directly to the school. Typically, a school will only certify an amount that is needed to cover tuition and other school expenses. What does this mean though? It means that schools determine their own eligible school expenses…and it is up to a student to make them aware of other expenses you may have so when that loan comes to the school, you are both in agreement on how much you need. So basically you need to collaborate with the school so that you are on the same page as far as your budget is concerned…and then apply for the Graduate Plus Loan for the amount that has been determined by you and your school.
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