Frequently Asked Questions

Below are some commonly asked questions and responses that will help provide you more information about Graduate Leverage and the student loan process.

What type of student loans does Graduate Leverage (GL) offer?
Graduate Leverage provides Stafford, Graduate PLUS, Parent PLUS, and private loans, as well as Federal consolidation and private consolidation loans.

How do I apply for student loans?
The first step is to complete a FAFSA (http://www.fafsa.ed.gov) which will be used by your financial aid office to determine your eligibility for scholarships, grants, and loans. Once you receive your financial aid award package from your financial aid office, contact Graduate Leverage to apply for your loans.

How can I check on the status of my student loans with Graduate Leverage?
To check your loan status, contact our dedicated Solutions Center at 888-350-8488. One of our advisors will be able to answer your questions regarding the status of your student loans, as well as explain what other options, if any, are available given your current loan portfolio.

How will I receive my funds?
The funds for your Federal and school-certified alternative loans will be disbursed directly to the school that you are attending. If you're receiving a Bar or Residency loan through Graduate Leverage we will send the disbursement directly to you.

What if I change schools? Does that affect my loans?
You will need to apply for financial aid at your new school and follow the new school's specific instructions. Once you receive your financial aid award package from your financial aid office, contact Graduate Leverage to apply for your loans.

Is the interest on my student loans tax deductible?
The interest that accrues on your student loans is tax deductible subject to certain IRS rules and requirements. You will receive a tax form at the beginning of each year stating the interest that is tax deductible.

How does my credit score affect my student loans?
Personal credit scores only affect you if you are applying for a private loan. With a private loan the effective interest rate is determined by your FICO score. If you are considering a Parent or Graduate PLUS Loan a credit check will be run to ensure that you do not have an adverse credit history but your credit score will not impact the interest rate of the PLUS loan.