Student loans are borrowed funds to help students pay for educational expenses. They are provided by state and federal programs, as well as private lenders and can be used to pay for your tuition, books, and living expenses.
Loans are unlike grants and scholarships in that they must be repaid with interest following your graduation or after six months of non-enrollment.
Usually, student loans have lower interest rates, and you may be able to defer payment as long as you are in college.
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
Total student loan debt at graduation should not be more than the borrower’s annual starting salary. Students who borrow a large sum of student loans may have to delay buying a new car or home, having children, etc. because of large monthly student loan payment. Here are several tips that may help you in borrowing funds for your education.
- Budget your estimated expenses, such as rent, meals, transportation, books, tuition, and other school-related costs each year. Subtract any grant and scholarship funding and earnings from work to determine the amount you may need to borrow. Only borrow what you need, even though you may be eligible for a larger sum.
- Apply for scholarships and consider asking your employer if tuition assistance or reimbursement options are available.
- Make interest only payments on your student loans while you are attending college.
- If you are struggling to make the loan payments, contact your lender(s) to see if your loans may be placed in a different repayment plan, deferment or forbearance.
Check out this video to learn about your responsibilities as a borrower and what you should consider when taking out loans for college. Visit Federal Student Aid for more information.
Loan and Grant Counseling
MyEdDebt: Information and assistance to help resolve defaulted loans or grants assigned to the Department’s Default Resolution Group
Texas Guaranteed Student Loan Corporation (now Trellis): Federal Stafford Loan Information, Borrower Loan Inquiry. Or call 800-222-6297.
Texas Higher Education Coordinating Board: State Grant, Scholarship, and Loan information. Or call 800-242-3062.
National Student Loan Data System: U.S. Department of Education's central database for student aid