Loans

Loans are borrowed money that you must repay. Some loans will require you to pay interest. Parents may also borrow to pay the educational expenses of their dependent undergraduate student. Maximum loan amounts depend upon your grade level in school. Beginning Fall 2010, Texas College began participation in the William D. Ford Federal Direct Loan program, in which borrowers obtain loan funds directly from the U.S. Department of Education.

Federal Direct Subsidized Loan - A need based loan where the federal government pays the interest while the student is in school and during the grace period before repayment begins. You must be enrolled at least 6 hours per semester to receive these funds.

Federal Direct Unsubsidized Loan - Non-need based loan. You, the borrower, are responsible for the interest on the loans as soon as the funds are received. You must be enrolled at least 6 hours per semester to receive these funds.

For more information regarding student loan amounts and interest rates please go towww.StudentLoans.gov.

Federal Direct PLUS Loan - Available to parents of dependent undergraduate students enrolled at least 6 hours each semester. Your parents' credit history is checked to determine eligibility for this loan.

College Access Loan (CAL) - A non-need based state loan offered to students who are Texas Residents, enrolled at least six hours each semester, who meet all financial aid requirements, and who can secure a credit worthy co-signer. This loan is not automatically offered by the Texas College financial aid office. A separate application must be completed on-line. For additional information please go to www.hhloans.com .

Alternative Loans - Loans that are offered by banks or lending institutions to assist students or parents in bridging the gap between college costs and traditional funding sources. These loans are private supplemental loans, and are not guaranteed by the federal government. Terms and conditions of these loans can vary according to specific lender.