Student Loans

General Eligibility Requirements

To be eligible for federal student loans, an applicant must:

Be a U.S. Citizen, U.S. National or eligible non-citizen,
Demonstrate documented need for need-based financial assistance,
Be in good academic standing and maintain satisfactory academic progress toward an eligible degree or certificate program,
Enroll as a regular student in an eligible program,
Must be making Satisfactory Academic Progress,
Must be enrolled at least halftime,
Have registered with the Selective Service if male,
Not be in default on any educational loan or owe a refund on any educational grant,
Not been convicted of possession or sale of drugs while enrolled and receiving Title IV Financial Aid, and
Have a valid social security number.

How to Apply for Loans

To be considered for a federal student loan, a student must complete the following steps:

Annually, complete the Free Application for Federal Student Aid (FAFSA) each academic year.
Complete any additional paperwork that the Office of Financial Aid deems necessary to establish your financial need. You will be notified on PeopleSoft Self Service To Do List if additional documents are requested.
Apply and be admitted to UH-Victoria.

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, a Direct Loan Master Promissory Note is on file with the Department of Education, and awards have been accepted, declined, or modified in PeopleSoft. 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 according to the refund option chosen with Higher One (One Account, ACH to a checking or savings account, or 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.

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.

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 Federal 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.mappingyourfuture.org/. If the recipient withdraws prior to the 60th percentage point in the term, a portion of the funds will be returned to the federal program which in turn may result in a balance owed to UHV.

Office of the Ombudsman

The Department of Education created an Office of the Ombudsman for students to contact when disputing the terms of the loan. If the student disputes the terms of the loan in writing and it is not resolved by the institution, lender or guaranty agency, they have the right to contact the Office of the Ombudsman. Contact information includes:

Student Financial Assistance
U.S. Department of Education
Office of the Ombudsman
830 First Street, N.E., 4th Floor
Washington, D.C. 20202-5144
Toll Free: (877) 557-2575
http://ombudsman.ed.gov

The UHV Office of Financial Aid staff agree to follow the Financial Aid Standards of Conduct and Conflict of Interest Certification upon employment.