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Loan Programs
Loans are borrowed funds that must be repaid with interest. Federal and state education loans generally offer fixed interest rates and deferred repayment options to assist students with educational expenses. Loan eligibility, annual limits, and terms vary by program.
All first‑time federal student loan borrowers are required to complete Loan Entrance Counseling and a Master Promissory Note (MPN) prior to receiving loan funds. Loan Exit Counseling is required when a student graduates, withdraws, or drops below half‑time enrollment. Federal loan counseling is completed at https://studentaid.gov/. Loan funds will not be disbursed without completion of required counseling and a valid MPN.
Federal Subsidized Stafford Loan
This loan is made through the William D. Ford Federal Direct Loan Program and is available only to eligible undergraduate students with demonstrated financial need, as determined by the FAFSA.
The U.S. Department of Education pays the interest on this loan while the student is enrolled at least half‑time, during the grace period, and during approved deferment periods. Students must complete a FAFSA, Entrance Counseling, and a Master Promissory Note to receive loan funds.
Federal Unsubsidized Stafford Loan
This loan is also made through the Federal Direct Loan Program and is not based on financial need. Interest begins accruing from the date of disbursement and remains the responsibility of the borrower.
Undergraduate and graduate students may be eligible. A FAFSA, Entrance Counseling, and Master Promissory Note are required prior to disbursement.
Federal Direct PLUS Loan for Parents (Parent PLUS)
The Federal Direct Parent PLUS Loan is an unsubsidized loan available to parents of dependent undergraduate students. Eligibility is not based on financial need, but borrowers must pass a credit check or obtain an approved endorser.
Loan funds will not be credited to the student account until all required steps-including a PLUS Master Promissory Note and credit approval-are completed. Parents must also complete PLUS credit counseling if required by the Department of Education.
Important Note: Under the One Big Beautiful Bill, beginning July 1, 2026, loan limits will be $20,000/year per dependent and an aggregate of $65,000 per dependent.
Federal Grad Plus Program (Grad PLUS)
The Federal Direct Graduate PLUS Loan is available to graduate and professional students and is not based on financial need. Eligibility is determined by a credit review. Students denied credit may apply with an approved endorser and may be required to complete additional PLUS credit counseling.
A FAFSA and a Graduate PLUS Master Promissory Note are required. Loan funds will not be disbursed until all requirements have been satisfied.
Important Note: Under the One Big Beautiful Bill, the Graduate PLUS Loan will no longer be available to new graduate students beginning July 1, 2026.
Graduate students who are enrolled in their current program and received a federal Direct Loan (Unsubsidized or Grad PLUS) prior to July 1, 2026 may qualify under a legacy provision to continue borrowing Graduate PLUS loans for up to three additional academic years or until completion of their current program of study, whichever occurs first, provided they remain continuously enrolled in the same program.
Priave (Alternative) Education Loans
Private or alternative loans may be available through private lenders to students who require additional financing. These loans are not federal or state loans and typically require a credit review and may require a co‑signer. Terms, interest rates, and repayment options vary by lender. Students are encouraged to exhaust federal loan options before pursuing private loans.
Texas College Access Loan (CAL)
(Administered by the Texas Higher Education Coordinating Board)
The College Access Loan (CAL) is a state‑issued alternative education loan administered by the Texas Higher Education Coordinating Board (THECB). The CAL is available to Texas residents who meet state eligibility criteria and are enrolled at least half‑time at an eligible Texas institution.
Eligibility requires a favorable credit evaluation or an approved co‑signer. Interest begins accruing at disbursement, and repayment terms are established by the state. Effective September 1, 2023, CAL loan amounts are subject to a state‑required manageable debt calculation based on the borrower’s program of study.
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