How does applying for Grad PLUS loans work? I've received an email from the financial aid office with a list of 3 steps. I've done the first 2 already, but choosing a lender part is confusing me. Cost of attendance? According to my financial aid award it is 71010, but my finaid counselor says that it is only 39500?? Also which lender did everyone choose for Grad PLUS? Of the two recommended Sallie Mae and Wachovia, it seems to me that Wachovia offers the lower interest rate and would be the better of the two lenders. And one more question while I'm at it... How many times are we supposed to apply for these loans (Stafford and Grad PLUS)? The 2007/ 08 school year is three semesters, but Stafford and Grad PLUS only cover two semesters at a time?? Any help is much appreciated!