With Federal Grad PLUS loans ending in 2026, many students face new federal borrowing limits that may not fully cover the cost of graduate school. That’s where College Ave comes in. Our private graduate loans offer the flexibility you need — and the confidence to borrow responsibly. Use our guide to:
3.89%
to 17.99% APR
2.49%
to 17.99% APR
(all rates shown include auto-pay discount)1
A Grad PLUS loan is a federal student loan offered by the U.S. Department of Education to graduate and professional students. These loans are designed to help cover education costs not met by other financial aid and come with flexible repayment options and access to federal forgiveness programs. They will no longer be an option to new graduate student borrowers as of July 1, 2026. If Grad PLUS isn't available to you, explore private graduate loans to cover the cost.
Private student loans are education loans offered by banks, credit unions, and private lenders to help students cover college costs that aren’t fully met by savings, scholarships, or federal aid. Unlike federal loans, the terms and benefits of private loans vary by lender, so it’s important to compare options carefully.
Private student loans can be an option to cover the full cost of graduate school when other resources fall short. They often serve as a financial bridge once federal loans and scholarships are maximized, helping grad students pay for tuition, housing, books, and living expenses.
| Private Student Loans | Grad PLUS Loans | |
|---|---|---|
| Lender | Banks, credit unions, and private lenders (e.g., College Ave) | U.S. Department of Education |
| Interest Rate | Fixed and variable,1 based on lender and credit profile | Fixed, set annually by the government |
| Eligibility | Credit-based; many students need a creditworthy cosigner | Graduate / professional students with no adverse credit history |
| Borrowing Limit | Up to the school-certified cost of attendance,2 minus other aid | Up to the cost of attendance, minus other aid |
| Fees | No origination fees | High origination fees (currently 4.228%) |
| Repayment Options | Varies by lender; may include principal & interest, interest-only, deferred or flat payment | Flexible federal plans (Income Driven Repayment (IDR), deferment, forbearance). Forgiveness Options - Public Service Loan Forgiveness (PSLF) |
| Forgiveness Options | Not eligible for federal forgiveness; limited lender discharge options | Eligible for PSLF and other federal forgiveness programs |
| Upcoming Changes | Continues to be available; can serve as an alternative funding source | No longer available to new borrowers after July 1, 2026 |
| Private Student Loans | Grad PLUS Loans | |
|---|---|---|
| Lender | Banks, credit unions, and private lenders (e.g., College Ave) | U.S. Department of Education |
| Interest Rate | Fixed and variable,1 based on lender and credit profile | Fixed, set annually by the government |
| Eligibility | Credit-based; many students need a creditworthy cosigner | Graduate / professional students with no adverse credit history |
| Borrowing Limit | Up to the school-certified cost of attendance,2 minus other aid | Up to the cost of attendance, minus other aid |
| Fees | No origination fees | High origination fees (currently 4.228%) |
| Repayment Options | Varies by lender; may include principal & interest, interest-only, deferred or flat payment | Flexible federal plans (Income Driven Repayment (IDR), deferment, forbearance). Forgiveness Options - Public Service Loan Forgiveness (PSLF) |
| Forgiveness Options | Not eligible for federal forgiveness; limited lender discharge options | Eligible for PSLF and other federal forgiveness programs |
| Upcoming Changes | Continues to be available; can serve as an alternative funding source | No longer available to new borrowers after July 1, 2026 |
Beginning July 1, 2026, Grad PLUS loans will no longer be available for new borrowers under the "One Big Beautiful Bill". Current borrowers will not be immediately affected, but incoming graduate and professional students will need to find alternative ways to pay for graduate school.
Graduate school is an exciting opportunity, but it comes with financial challenges. A recent College Ave survey found that 58% of students currently use or plan to use private student loans to fund their graduate education3 — which means smart planning is more important than ever. When choosing a loan, students say flexibility in repayment and competitive interest rates top their list of must-haves. So if grad school is part of your future, knowing your options now can help you borrow with confidence later.
With Grad PLUS loans changing in 2026, it’s important to start exploring your options now to ensure you're fully covered. Private loans from College Ave provide flexibility and peace of mind when federal aid isn't enough.
Whether you're looking for a loan with low rates, manageable repayment terms, or flexibility in how you pay, College Ave graduate loans are designed to meet your needs and reduce the stress of financing your education.
No need to wait — prequalify for a private graduate student loan in minutes to get a better understanding of your options.
1
Evaluate your graduate school program length, timing, credit score and financial situation.
Understand your current financial standing, including your credit score and any existing debt. Consider how long you plan to be in graduate school and how much you can comfortably borrow.
2
Weigh the importance of borrower protections like loan forgiveness, income-driven repayment, grace periods and deferment.
When deciding to go to graduate school, you will need to find a loan that fits your program. College Ave offers graduate loans structured for your degree, like deferment while in residency or fellowship.
Graduate Loans3
Compare interest rates from private lenders and evaluate originations fees.
Compare rates from lenders and be sure to consider any origination fees that may be associated with taking a loan.
4
Make your decision based on your long-term financial goals and career plans.
Look at how each loan option fits into your future plans. Are you planning to work in a field that offers loan forgiveness? Do you want more flexibility in your repayment?
5
Take the Next Step in Your Education with College Ave
Ensure your graduate school funding is fully covered, especially as federal options change in 2026. Cover all your costs with a private student loan from College Ave.
Apply Now 1
Evaluate your graduate school program length, timing, credit score and financial situation.
Understand your current financial standing, including your credit score and any existing debt. Consider how long you plan to be in graduate school and how much you can comfortably borrow.
2
Weigh the importance of borrower protections like loan forgiveness, income-driven repayment, grace periods and deferment.
When deciding to go to graduate school, you will need to find a loan that fits your program. College Ave offers graduate loans structured for your degree, like deferment while in residency or fellowship.
Graduate Loans 3
Compare interest rates from private lenders and evaluate originations fees.
Compare rates from lenders and be sure to consider any origination fees that may be associated with taking a loan.
4
Make your decision based on your long-term financial goals and career plans.
Look at how each loan option fits into your future plans. Are you planning to work in a field that offers loan forgiveness? Do you want more flexibility in your repayment?
5
Take the Next Step in Your Education with College Ave
Ensure your graduate school funding is fully covered, especially as federal options change in 2026. Cover all your costs with a private student loan from College Ave.
Apply NowIn July 2025, Congress passed the One Big Beautiful Bill Act (OBBBA), ushering in sweeping changes to federal student aid. One of the most consequential moves: the elimination of the Grad PLUS program for new borrowers as of July 1, 2026. Under this shift, graduate students will no longer be able to access new federal Grad PLUS loans, which historically let them borrow up to the full cost of attendance.
However, to ease the transition, there’s a legacy window: those who already have Grad PLUS loans before the phase-out may continue borrowing under Grad PLUS for up to three academic years (or the remainder of their credential program, whichever is shorter).
As with any kind of loan, a good credit history helps ensure eligibility and interest rates on private student loans tend to be lower for those with better credit scores. Individuals with poor credit history may not be able to take out parent loans or cosign a private student loan for college students. College Ave offers a pre-qualification tool to show students and cosigners if their credit scores qualify, and what interest rates they can expect from us before they apply. Plus, using the tool won't impact your credit score. Pre-qualification isn't a full review or guarantee, but it may help you decide if you want to submit a full application.
Absolutely. College Ave private grad student loans can be certified to cover 100% of your grad school’s cost of attendance, just like Grad PLUS once did. That includes tuition, fees, housing, books, supplies, and more.
You should consider turning to a College Ave private grad student loans in these scenarios:
Footnotes
Variable rates may increase after consummation. Approved interest rates will depend on creditworthiness of the applicant(s)
As certified by your school and less any other financial aid you might receive. Minimum $1,000
The College Ave survey was conducted by Hanover Research®. The national online survey included current graduate students or prospective graduate students. The survey had 550 respondents and was fielded in September 2025.