A student loan is borrowed funds designed to help students pay for tuition, books, and living expenses. Student Loans must be repaid with interest.
Usually, student loans will have a substantially lower interest rate and the repayment schedule may be deferred while the student is in higher education.
The average Class of 2015 graduates with student-loan debt has to pay back some $35,051, according to an analysis of government data by Mark Kantrowitz, publisher at Edvisors, a group of web sites about planning and paying for college. Students and families are paying for a greater portion of the college expenses through loans than ever before. Therefore, it's important that all loan borrowers be aware of their responsibilities.
Are you thinking about taking out a federal student loan to help pay for college or career school? Check out this video to learn about your responsibilities as a borrower and what you should consider when taking out loans for college. Visit studentaid.ed.gov for more info.
General Loan Information
- General Eligibility Requirements
- How to Apply for Loans
- Loan Disbursement Process
- Other Important Loan Information
- Title IV Loan Code of Conduct
- Office of Ombudsman
- Federal Direct Subsidized and Unsubsidized Loan Programs
- Federal Parent Loans for Undergraduate Students (FPLUS)
- Federal Graduate Loans
- Maximum Annual Loan Limits Chart
- Student Loan Repayment Options
- State Loans
- Loan Consolidation
- Deferment Navigator
- Sample of a Direct Loan Disclosure form
Loan and Grant Counseling
myeddebt https://myeddebt.ed.gov - This site will provide you with accurate information and assistance to help resolve defaulted loans or grants assigned to the Department’s Default Resolution Group
Loan Consolidation http://www.tgslc.org/borrowers/consolidate/index.cfm
Trellis Company - Formerly Texas Guaranteed Student Loan Corporation
800-845-6267 or www.trelliscompany.org
Federal Stafford Loan Information, Borrower Loan Inquiry
Texas Higher Education Coordinating Board
http://www.collegeforalltexans.com/ – State Grant, Scholarship and Loan information
National Student Loan Data System
U.S. Department of Education's central database for student aid
Federal Direct Consolidation