Interest is paid by the borrower while in school. Principal and interest may be deferred at borrower's option. Variable interest rate. The PLUS is available to the credit-worthy parent of a dependent student. Demonstrated need is not required.
Loan can be for cost of education per student minus other aid.
Students must complete the ACU Application for Financial Aid annually and contact a bank or ACU for student loan application. Deadline for application is May 1. Repayment of principal and interest begins immediately. Variable interest rate. The CAL is only available to undergraduates and graduates who are Texas residents.