This loan is available to parents of dependent undergraduate students, and to graduate students. The parents (or graduate students) must have no adverse credit history. Parents may borrow up to the cost of education (budget costs minus any financial aid received) and must use the loan funds solely to pay educational costs. The PLUS is a fixed interest rate loan (for loans disbursed after June 30, 2006) that is currently capped at 9%, and parents make monthly principal and interest payments beginning at the time the loan is disbursed. The loan may be obtained through a participating lender (banks, credit unions, and savings and loan associations). For further information concerning this program, contact the Financial Aid Office.