Introduction
Federal Direct Loans and Alternative Private educational loans are available financial aid options for Graduate and certain Advanced Certificate students at Brooklyn College. Federal direct loans require an applicant to file the FAFSA to determine basic eligibility criteria.
What does this guide offer you?
This guide outlines the steps for the Graduate student Federal Direct loan process. It also includes resources such as videos and links to more information and other guides to help you navigate the student loan process and the CUNYfirst system. Information about the alternative loan process, which is the same for all students at Brooklyn College, is available in the Private Educational Alternative Loan Guide
Federal Direct Loan Program Interest and Origination fee
The Federal Direct Unsubsidized loan has a loan origination fee and accrues interest from the time of disbursement. The Federal Graduate PLUS loan has the above, requires passing a credit check, has a higher interest rate and loan origination fee. The loan origination fee amount and interest rates are determined annually by the U.S. Congress.
Review current interest rates and fees on the Federal Student Aid website.
Review current interest rates and fees on the Federal Student Aid website.
About Alternative Private Educational Loans
Alternative private educational loans do not require students to file the FAFSA. They may carry an origination fee and they typically accrue interest from the time of disbursement. Interest rates, fees and repayment obligations are set by the lender. As such there is no set interest rate, that may vary by lender and credit history.
IMPORTANT Note about Borrowing
The Brooklyn College Office of Financial Aid recommends that you limit borrowing to what you need! We strongly encourage you to schedule an appointment with a financial aid advisor for financial aid planning if you have never borrowed from the federal direct loan or alternative programs before you do.
Feirstein School of Cinema Students
Feirstein School of Cinema students generally have higher costs than other graduate students. As a result they may have higher borrowing needs and need more customized planning. Feirstein school of cinema students should contact Assistant Director of Financial Aid Advisement Klarinda Louis (Klouis@brooklyn.cuny.edu) to schedule a financial aid planning appointment, they should not use the Navigate system.
Speech Language Pathology (MS) Students
Student in the speech language pathology program are considered professional students for the purposes of federal direct loan borrowing limits. Consequently students in this program have a higher annual loan limit and aggregate limit than other graduate students. See the loan limit charts below for more information.
Major Changes to the Federal Direct Loan Program under the One Big Beautiful Bill Act (OBBBA
Major Changes Starting July 1st, 2026
1) The Graduate PLUS Loan is eliminated for all new borrowers.
2) An interim exception applies for certain students who may be eligible to borrow Graduate PLUS for limited time.
3) All federal direct loans are subject to reduction when a student is enrolled less than full-time in their program of study.
4) New lower aggregate loan limit
5) New Lifetime borrowing limit.
6) Speech Language Pathology students are considered professional students for the purposes of the new annual and aggregate borrowing limits.
A complete outline of the changes is available in the “One Big Beautiful Bill Act – Financial Aid Updates” article.
2) An interim exception applies for certain students who may be eligible to borrow Graduate PLUS for limited time.
3) All federal direct loans are subject to reduction when a student is enrolled less than full-time in their program of study.
4) New lower aggregate loan limit
5) New Lifetime borrowing limit.
6) Speech Language Pathology students are considered professional students for the purposes of the new annual and aggregate borrowing limits.
A complete outline of the changes is available in the “One Big Beautiful Bill Act – Financial Aid Updates” article.
Federal Direct Unsubsidized and Graduate PLUS Loans
Step 1 – Complete the FAFSA
Step 1 – Complete the FAFSA
Before you can be considered for a Federal Direct Loan (unsubsidized or Graduate PLUS) you must first file and submit the FAFSA to determine that you meet the basic eligibility criteria for federal student financial aid programs. The FAFSA you file should reflect the academic year that you are planning to attend. For example if you are planning to enroll in the Fall 2024 and spring 2025 terms then you should file the 2024-2025 FAFSA.
Step 2 – Review Your CUNYfirst Financial Aid “TO-DO LIST” Items
If your FAFSA requires additional documentation, CUNYfirst will alert you by listing items on the Tasks tile in your Student Center. You must complete these items before any offered or accepted loan will be able to disburse to you. To view your “To-Do List” log onto your CUNYfirst account at https://home.cunyfirst.cuny.edu
Step 3 – Review Your COST OF ATTENDANCE (Financial Aid Budget)
What is the Cost of Attendance?
Your Cost of Attendance (which includes direct and indirect costs of your education) is used to determine the maximum amount of financial aid (scholarships and loans) you may receive during an academic year. It is important to review your cost of attendance before borrowing so that you understand borrowing limitations. You cannot borrow or receive aid that is in excess of your Cost Of Attendance.
View your Cost of Attendance:
- Access the Financial Aid tile in your CUNYfirst Student Center.
- Confirm the appropriate aid year in the top left of the page (use the Change button if the current aid year is not the default). Note: the screenshot example below shows costs for the 2021-2022 year.
- Under the “Financial Aid Summary menu” on the sidebar select “Cost of Attendance”.
Step 4 – Enroll For Courses (at least half-time)
Enrollment Requirements
You must be matriculated in an eligible graduate degree program and enroll for at least half-time of graduate coursework in the term(s) for which you are seeking the loan to be eligible for the loan.
Graduate programs ineligible for Federal Student Loans are: Non-Degree and Advanced Certificate programs not on this list.
Graduate programs ineligible for Federal Student Loans are: Non-Degree and Advanced Certificate programs not on this list.
Definition of Full-Time and half-Time for Graduate Study
Full-time for graduate study is 9 credits per semester. Half-time is considered 5 credits.
Step 5 – Complete an Entrance Counseling Session and Sign your eMPN,
If this is your first time borrowing a Federal Direct Student Loan at Brooklyn College, you must complete the below requirements before your loan will disburse to you:
Entrance Counseling
Using your FSA ID, sign into the Federal Student Aid portal to complete the ENTRANCE COUNSELING SESSION. Be sure to select CUNY Brooklyn College as a school to notify. If you have already completed one in the past you only need to change the school code to Brooklyn College.
eMPN- Promissory Note
On the Federal Student Aid portal sign the LOAN MASTER PROMISSORY NOTE (MPN) for graduate students. If you have signed an MPN for the particular loan type within the last decade then you would not need to sign a new one. If you are unsure of how long it has been since you last signed one it is recommended to sign a new one to avoid a disbursement delay due to an expiring promissory note.
NOTE: Make sure you are signing the correct type of promissory note for the type of loan you are borrowing. The unsubsidized loan and the Graduate PLUS loan have separate and different promissory notes because the terms of the loans are different. If you are utilizing both you will need to sign two promissory notes.
Financial Aid TV- Loan Entrance and Promissory Note Video
NOTE: Make sure you are signing the correct type of promissory note for the type of loan you are borrowing. The unsubsidized loan and the Graduate PLUS loan have separate and different promissory notes because the terms of the loans are different. If you are utilizing both you will need to sign two promissory notes.
Financial Aid TV- Loan Entrance and Promissory Note Video
Step 6 – Accept, Reduce, or Decline your Unsubsidized Loan on CUNYfirst
All graduate students who filed a FAFSA and are in an eligible degree program will have a Federal Direct Unsubsidized Direct Loan of up to $20,500 offered on their aid package.
The unsubsidized loan will not disburse if it has not been accepted or if the steps above have not been completed.
Click to learn more about the offered loan process
The loan is offered as a fall/spring loan. This means that the loan amount will be divided evenly between the fall and spring terms. Depending on your tuition charges this may not be sufficient to cover your full balance.
You can accept, reduce, and then accept, or decline the annual loan award by following the steps outlined in the CUNYfirst Student Financial Aid Guide on or Information Guides page (refer to pages 11-12 in the guide).
You can accept, reduce, and then accept, or decline the annual loan award by following the steps outlined in the CUNYfirst Student Financial Aid Guide on or Information Guides page (refer to pages 11-12 in the guide).
What do I do if I want a semester only loan?
If you are seeking to borrow a semester only loan you must decline the offered loan and use the Federal Direct Loan Change Form (scroll down to loan section of the page to find the form) to request a semester only loan.
Loan Limits for Graduate Study
All Graduate Students Except Speech Language Pathology
| Graduate Student Aggregate Type | Maximum Amounts (Before 7/1/2026 and students eligible for the limited exception) | Maximum Amounts (After 7/1/2026 ) |
|---|---|---|
| Annual Unsubsidized Loan Limit | $20,500 | $20,500 |
| Aggregate Borrowing Limit* | $138,500 | $100,000 |
| Lifetime Borrowing Limit** | N/A | $257,500 |
Graduate Speech Language Pathology MS (Professional) Students Only
| Professional Student Aggregate Type | Maximum Amounts (Before 7/1/2026 and students eligible for the limited exception) | Maximum Amounts (After 7/1/2026 ) |
|---|---|---|
| Annual Unsubsidized Loan Limit | $20,500 | $50,000 |
| Aggregate Borrowing Limit* | $138,500 | $200,00 |
| Lifetime Borrowing Limit** | N/A | $257,500 |
*The Aggregate Borrowing Limit includes any borrowing from undergraduate study or prior graduate degrees.
**Lifetime limit includes all federal direct loan borrowing (even Graduate Plus) across all degrees and programs except Parent PLUS and consolidation loans even if loans were repaid or discharged in the past.
Graduate Plus Loan
MAJOR CHANGE: As of July 1st, 2026 the Graduate PLUS loan program has been eliminated for new borrowers.
Who is eligible for the Graduate Plus Loan?
Graduate students who meet the limited interim exception and who need to borrow more than the unsubsidized loan to meet their educational costs and who do not have aid up to their cost of attendance may apply for a Graduate PLUS loan.
How much Graduate PLUS can you borrow if you are eligible for the interim exception?
Students who are enrolled full-time can borrow from the graduate PLUS loan up to the full annual cost of attendance (COA) minus other financial aid received (scholarships, federal student loans, private loans etc.).
Students who are enrolled less than full-time will have their PLUS loan reduced to reflect their enrollment. Students must be enrolled at least half-time in their program of study be eligible for a Graduate PLUS loan disbursement.
Students who are enrolled less than full-time will have their PLUS loan reduced to reflect their enrollment. Students must be enrolled at least half-time in their program of study be eligible for a Graduate PLUS loan disbursement.
Does the Graduate PLUS loan require a credit check?
Yes. A credit check will be performed by the U.S. Department of Education during the origination process to determine your credit eligibility for the Graduate PLUS loan. The PLUS loan has a higher loan fee and interest rate than other federal direct loans.
If you are interested in applying, follow the steps below:
1) Determine if you meet the limited interim exception. This is required to establish eligibility. If you are unsure speak with a financial aid representative.
2) Accept and and or request an unsubsidized loan for the academic year. (This step does not apply if you have reached your federal direct loan aggregate borrowing limit.) NOTE: Federal law requires that your eligibility for the unsubsidized loan be determined first before you can request a PLUS loan.
2) Sign the Graduate PLUS Master Promissory Note (MPN) at studentaid.gov (you may also need to update your entrance counseling if you previously did it only for subsidized and/or unsubsidized loans).
3) Complete and submit the electronic Graduate Plus Loan Application on the Financial Aid Office Forms Page (scroll down to the Federal Direct Loan section).
4) Pass the credit check (if you fail the credit check you may either obtain an endorser or appeal the decision. If you fail the credit check you must also complete PLUS Credit counseling even if you obtain an endorser or appeal the decision).
5) Enroll for at least half-time and attend classes. Full-time for graduate study is defined as 9 credits.
2) Accept and and or request an unsubsidized loan for the academic year. (This step does not apply if you have reached your federal direct loan aggregate borrowing limit.) NOTE: Federal law requires that your eligibility for the unsubsidized loan be determined first before you can request a PLUS loan.
2) Sign the Graduate PLUS Master Promissory Note (MPN) at studentaid.gov (you may also need to update your entrance counseling if you previously did it only for subsidized and/or unsubsidized loans).
3) Complete and submit the electronic Graduate Plus Loan Application on the Financial Aid Office Forms Page (scroll down to the Federal Direct Loan section).
4) Pass the credit check (if you fail the credit check you may either obtain an endorser or appeal the decision. If you fail the credit check you must also complete PLUS Credit counseling even if you obtain an endorser or appeal the decision).
5) Enroll for at least half-time and attend classes. Full-time for graduate study is defined as 9 credits.
Pending Aid in CUNYfirst
Authorization and Pending Financial Aid
After you have accepted your unsubsidized loan, and completed all the necessary steps above allow a 3-5 business days for the loan to authorize. Once authorized, the loan will show on your CUNYfirst Student Center under the “Financial Account” tile as pending financial aid. Navigate to “Account Balance” on the menu sidebar to see your total charges, pending financial aid and how much you still owe (if anything). Pending financial aid means that it is approved but pending to disburse on the next available disbursement date.
For detailed steps on how to view pending financial aid refer to the CUNYfirst Student Financial Aid guide.
For detailed steps on how to view pending financial aid refer to the CUNYfirst Student Financial Aid guide.
Loan Disclosure and Disbursement
How Disbursements Work
You will receive an official disclosure statement via email from the Direct Loan Servicing Center confirming your approved award and anticipated disbursement dates. Federal loans are issued in two separate disbursements. Initial Disbursement dates for the loan are indicated below. Disbursements occur each Monday (excepting legal holidays) following the initial disbursement date. Any disbursement that is in excess of the tuition and fees liability will refund on the Friday after the disbursement date via check or direct deposit.
Initial Federal Loan Disbursement Dates
Fall 2026 – September 8*
Spring 2027 – February 8**
*Graduate students who are enrolled in Session II, but not Session I, of an 8 week School of Business program have an initial fall disbursement date of November 2 2026
**Graduate students who are enrolled in Session II, but not Session I, of an 8 week School of Business program have an initial spring disbursement date of March 22 2027
Spring 2027 – February 8**
*Graduate students who are enrolled in Session II, but not Session I, of an 8 week School of Business program have an initial fall disbursement date of November 2 2026
**Graduate students who are enrolled in Session II, but not Session I, of an 8 week School of Business program have an initial spring disbursement date of March 22 2027
Additional Resources
Click to learn more about Interest rates, exit counseling, repayment options, Federal Loan history and more
Financial Aid TV – Loan Videos
Financial Aid TV Videos: Loan Overview
Financial Aid TV Videos: Loan Programs
Financial Aid TV Videos: Loan Repayment
Need More Help?
Review our Financial Aid Services page for more information on how to speak with a representative or schedule a financial aid planning session with a financial aid advisor.
General email inquiries may be sent to finaid@brooklyn.cuny.edu
General inquires by phone: Student Financial Services Call Center (718)-951-5051