Office of Financial Aid

Federal Loans

How to Apply for a Federal Stafford Loan

1. On the FAFSA application, answer yes to the question that asks if you are interested in student loans, OR
2. If you marked "no" to the question that asks if you are interested in Stafford loans, complete the Federal Stafford Loan Request Form and submit it to the Office of Financial Aid.
3. If at any time the student’s financial or enrollment status increases after the initial awarding, the student may be eligible to apply for additional loan funds. To request additional loan funds, complete a Federal Student Loan Request Form and return it to the Office of Financial Aid. It is recommended that the student should contact a Financial Aid Counselor prior to completing this form.

How to Accept A Federal Stafford Loan Award

1. Award notices are sent to your UHV email account. You will need to log into PeopleSoft / UHV Self Service / Financial Aid / Accept or Decline Awards. Check the appropriate box. WEB LINK: http://www.uhv.edu/myPeopleSoft/
2. If you have already completed the Loans By Web guarantee process at UHV once, you will not have to complete the process when you request future loans.
3. For 1st time loan borrowers at UHV follow the steps below:
4. After you receive an email from Texas Guaranteed Student Loan Corporation, Click on the Loans By Web link in the email or in the Financial Aid section of PeopleSoft.
5. You may be prompted to complete Loan Entrance counseling if this is your first Stafford student loan or you have not guaranteed a Stafford loan within the past 90 days. When you complete counseling, write down the confirmation number for future reference. Follow the prompts on the screen, and then continue with the TG Loans By Web process.
6. Update your Personal Information.
7. Enter information for your References, including addresses and phone numbers.
8. Select your Lender. Your school provides the list of preferred lenders. Lenders that accept electronic signatures for loans are designated with an asterisk.
9. Review your Loan Award Information. Fill in the necessary fields. Click Previous to make changes to the other screens.
10. Select whether you want to “Print the application packet on your local printer or E-Sign,” OR have “TG mail the application packet to you. Click Submit.
11. Verify the information on the Submit… screen. Click Guarantee to submit the award.
12. Follow the instructions on the Results… screen. If you selected an E-Sign lender, click on the link(s) provided, to sign your Master Promissory Note (MPN)
13. If you did not E-Sign for the loan, sign, date, and mail one copy of your printed MPN—included in your application packet—to your lender. Your lender will not release your loan funds until it receives your signed MPN. If you already signed a MPN for this lender you may not have to sign another note.
14. If you have another award to complete, click Back or Main Menu. If not, Logout.

You have the right to cancel all or a portion of the loan(s) by contacting our office within 14 days of the date the student was notified of his/her loan disbursement. The funds will be returned to your lender by either electronic funds transfer (EFT) or check.

How to Apply for Federal Parent PLUS Loans

In addition to the steps above,

1. Open your Web browser and go to TG Loans By Web at https://lbw.tgslc.org.
2. Select “I am a Parent Borrower.”
3. Log in using your Social Security Number and Date of Birth.
4. Enter your dependent’s Social Security Number and Date of Birth.
5. Select Complete a loan award.
6. Select an award under Option 1. If no awards are listed, and your school has instructed you to initiate a loan request, select your school from the drop-down list under Option 2 and click Create Loan Request.
7. Type in your Personal Information. Click Next.
8. Type in the contact information for two References. Click Next.
9. Click Select Lender. Your school’s preferred lender list appears. Lenders that accept electronic signatures for pre-approval processing are preceded by an asterisk. Select a lender. Click Next.
10. Review your Loan Award Information. Fill in the necessary fields, including the Requested Loan Amount, your Loan Period Begin and End date, Employer, etc. Click Previous to make changes to the other screens. Click Submit
11. Your loan request may be routed to the lender to obtain a credit approval. Select the hyperlink Online Credit Status to retrieve the results of your credit request. Depending on the lender you selected, processing times vary and your results may not be available immediately. Please bookmark the lender Web site and refer back to it later.
12. If the selected lender accepts electronic signatures, click the E-Sign button to sign your MPN (Master Promissory Note). If the E-sign button is not available, your MPN will be mailed to you. Mail the signed and dated MPN back to the lender, or check your lender’s Web site to see if they have electronic signature capabilities available there.
13. Click Logout to end your session.
    Complete and submit the Federal Parent PLUS Loan Request Form.
14. Accept or Decline the loan award in PeopleSoft.

How to Accept A Parent PLUS Loan Award

You will need to log into PeopleSoft / UHV Self Service / Financial Aid / Accept or Decline Awards. Check the appropriate box. WEB LINK: http://www.uhv.edu/myPeopleSoft/.

How to Apply for a Graduate PLUS Loan

1. Open your Web browser and go to TG Loans By Web athttps://lbw.tgslc.org.
2. Select: “I am a Graduate Student Borrower.”
3. Log in using your Social Security Number and Date of Birth.
4. Select Complete a loan award. The Complete Your Loan Award screen appears. Disregard Option 1.
5. Under Option 2, select your school from the drop-down list and click on the Create Loan Request button.
6. The Complete Your Loan Award page lists the steps to request a loan: Personal Information, References, Lender Selection, and Loan Award Information.
7. Type in your Personal Information. Click Next.
8. Type in the contact information for two References. Click Next.
9. Click Select Lender. Your school’s preferred lender list appears. Lenders that accept electronic signatures for loans are preceded by an asterisk. Select a lender. Click Next.
10. Review your Loan Award Information. Fill in the necessary fields, including the Grad PLUS Requested Loan Amount, Loan Period Begin and End dates, etc. Click Submit.
11. Verify the information on the Please Verify… screen. Click Send Request to submit the request.
12. Follow the instructions on the Results… screen. If you selected an E-Sign lender, click on the link(s) provided, to sign your Master Promissory Note (MPN).
13. If you did not E-Sign for the loan, your MPN will be mailed to you. Mail the signed and dated MPN back to the lender, or check your lender’s Web site to see if they have electronic signature capabilities available there.
14. Click Back to create another loan request. Click Logout if you are done.
15. Complete and submit the Federal Graduate PLUS Loan Request Form.
16. Accept or Decline the loan award in PeopleSoft.

How to Accept A Graduate PLUS Loan Award

Award notices are sent to your UHV email account. You will need to log into PeopleSoft / UHV Self Service / Financial Aid / Accept or Decline Awards. Check the appropriate box. WEB LINK: http://www.uhv.edu/myPeopleSoft/.

Loan Disbursement Process

The loans are disbursed after enrollment and eligibility verification is reviewed on a student by student basis. Loans will be credited toward the student’s university account after all required documentation is received and awards have been accepted, declined, or modified in PeopleSoft. If the student’s enrollment status is activated (at least the minimum amount due on the fee bill is paid OR the awarded aid is more than the minimum due), the loan will be credited toward the student’s account no earlier than the first day of class. Any resulting credit balance will be issued in the form of a refund check.

The lenders may disburse the loan in two equal payments if the student anticipates enrolling for more than one semester. If the student is only enrolling in one semester, the student may receive the funds in two equal disbursements during the semester.

Other Important Loan Information

Notification will be mailed to the student making them aware of when the loan was credited to their account and how much was disbursed. The student has 14 days from the time they receive the notification to request all or a portion of the funds to be canceled by contacting their lender.

Students can access information about their student loan history and Pell Grant history at the following site: http://www.nslds.ed.gov. Students need a personal identification number prior to accessing this information. Students who do not currently hold a PIN number can go to the web site: http://www.pin.ed.gov to obtain one.

When a loan recipient withdraws, drops below half-time, or graduates, he or she must complete an Loan Exit Counseling Session. This can be done by completing the Exit Counseling on the web at the following address: http://www.mapping-your-future.org/.

Federal Family Education Loan Program (FFELP) Stafford Subsidized and Unsubsidized Loans

This is a federal long term low interest loan designed to help students who have difficulty meeting college expenses. The University of Houston-Victoria provides information to the lender (bank, credit union, or savings and loan association) about the student's eligibility for the loan, and a lender makes the loan to the student. The loans are insured by the guarantee agency and reinsured by the Federal Government.

Maximum Annual Loan Limits Chart-Subsidized and Unsubsidized FFEL(Federal) Stafford Loans as of July 1, 2008

The student does not have to pay the interest on the subsidized loan until 6 months after the student graduates, withdraws, or drops below half-time. Students must pay the interest on the unsubsidized loans immediately unless the student chooses to capitalize the interest payments. Capitalizing the interest increases the amount you will eventually have to repay.

Interest Rate Table
Fixed Stafford Loan rates disbursed on or after July 1, 2008

• Undergraduate Subsidized Loans - 6%
• Graduate Subsidized and all Unsubsidized Loans 6.8% (all Stafford loans disbursed 07/01/2006 - 06/30/2008

The subsidized loan cannot be more than the cost of education at one school, minus Expected Family Contribution and other financial aid received. The student’s eligibility equals the amount that remains or up to the maximum dollar figure posted in the loan application packet. The unsubsidized loans cannot be more than the cost of education at one school, minus other financial aid or up to the maximum dollar figure posted in the loan application.

If the student’s enrollment status changes, the loan amount may have to be recalculated. Information about deferments and consolidation of loans is available in the Office of Financial Aid or on the Texas Guaranteed Student Loan Corporation's website (http://www.tgslc.org).

Federal Parent Loans for Undergraduate Students (FPLUS)

Parents of dependent undergraduate students may borrow funds under this loan program on behalf of the student. Parents can borrow funds up to the cost of education minus other financial aid the student has been awarded. Parents must have a good credit history to qualify. Lending institutions, along with a guarantee agency, administer the loan program.

Payments begin within 60 days from the date of disbursement, with $50 minimum payments per month. Loan regulations allow at least 5, but no more than 10, years to repay this loan. The parent borrower may prepay the whole or part of the loan at any time without penalty, or may defer payments of the principal if the student is attending school full-time. Please note that although the principal may be deferred, the interest continues to accrue or must be paid. PLUS loans are credited to the students account the same way subsidized and unsubsidized loans are.

PeopleSoft shows the loan amounts the student is eligible for after the student's loan eligibility has been computed. The student must accept/reject all or part of the loan(s) by logging into PeopleSoft. The loan will be disbursed to the student's account once eligibility is reviewed.

Interest Rate Table
Fixed rate for Parent and Grad PLUS loans disbursed on or after July 1, 2006 - 8.5%

Federal Graduate PLUS Loan

Graduate students who have been awarded the maximum Stafford loan award for the academic year ($20,500) and have not been awarded aid equal to the amount of his/her Cost of Attendance,or has borrowed his/her aggregate loan amount of $138,500, may have the opportunity to borrow additional funds through the Graduate PLUS Loan Program. Graduate students are subject to credit-worthiness standards. If the student does not pass the credit check, they may have the option to have an endorser for the loan. The interest rate is the same as the Parent PLUS loan listed above.

PeopleSoft shows the loan amounts the student is eligible for after the student's loan eligibility has been computed. The student must accept/reject all or part of the loan by logging into PeopleSoft.The loan will be disbursed to the student's account once eligibility is reviewed.

Graduate students awarded the GRAD PLUS Loan will have a 60 day grace period after the last disbursement is made. If the student is enrolled at least half-time, the student can apply for an in-school deferment or begin making the monthly payment.

Sample Repayment Schedules

Federal student loans must be repaid to the lender or servicers of the borrowed loan funds over a period of 10 years unless other arrangements are made with the lender. Students can set up several types of repayment schedules:

1. Standard Monthly Repayment - same payment amount each month.
2. Graduated Repayment - smaller payment amounts first and will gradually increase over time.
3. Income-Sensitive Repayment - the plan ties the size of your monthly payment to your income level.
4. Prepayment - you can make extra payments to pay off the entire loan balance at any time.
5. Consolidation - Students can refinance his/her eligible Federal Loans. The interest rate is determined by the weighted average of all loans included in the refinance. Advantages of consolidating include a fixed interest rate for the term of the loan and possibly a longer repayment period.

Monthly Repayment Example: If you borrow $20,000 in student loans during your college career, your monthly payment would be approximately $232 per month.