Be aware that the PROSPER Act that is currently being considered by Congress may limit federal loans for graduate students. I say “may” because it’s not a given that it will be passed as written. The most drastic proposal is to limit graduate federal loans to $28,000/year unsubsidized with no Grad PLUS. Other proposals include unsub up to $30,000 or Grad PLUS with underwriting (as opposed to the current relatively loose credit check) - one proposal uses FHA guidelines to qualify. The financial aid community is pushing hard to keep the Grad PLUS as an attainable loan for grad students, because private loans may very well not be a possibility for may students, and even if they qualify, these loans do not offer income based repayment.