Loans

Student Loans are an excellent form of financial aid to assist with educational expenses.  While some loans have forgiveness provisions (Texas B-On-Time Loan for example), loans are a debt and MUST BE REPAID.  Please borrow wisely. 

TPE Emergency Loans

  • A Texas Public Education Emergency Loan is a short term loan granted to an enrolled student for the amount of tuition and fees only.  Loans are available for Texas resident students, non-resident students and foreign students.
  • The maximum loan amount per student will be the minimum payment required to complete the current registration.
  • For more information or to apply for this loan, visit the TPE Emergency Loans page.

Texas B-On-Time Loan (BOT)*

The Texas B-On-Time Loan is awarded to Texas residents who are eligible for federal financial aid and who meet the following conditions:

  • Are graduates of public or accredited private high schools in Texas no earlier than the 2002-2003 academic year, completing the recommended or advanced high school curriculum, OR
  • Have earned an associate's degree from an eligible institution no earlier than May 1, 2005
  • Have not yet earned a bachelor's degree
  • Are enrolled full-time (12 hours per semester) in an undergraduate degree or certificate program at an eligible institution
  • Have completed a FAFSA
  • Have not complete 150 credit hours
  • Have been certified by the financial aid office as eligible for the Texas B-on-Time Loan.

Loan amounts are up to $6,780 annually and any amounts borrowed may be cancelled or forgiven if the borrower:

  • Finishes a four-year degree in four years, having taken no more than 6 semester hours beyond what is required for his or her major, or
  • Finishes a five-year degree in five years, having taken no more than 6 semester hours beyond what is required for his or her major, and
  • Graduates with a cumulative GPA of 3.0 or higher.

A 3% origination fee will be deducted from each loan and no awards will be made for the summer terms.  Once a student has received a loan through this program, to maintain eligibility for future disbursements, the student must make satisfactory academic progress in the first year and complete at least 75% of hours attempted with a cumulative GPA of 2.5 or higher in second and subsequent years.

In cases where borrowers do not meet requirements to have the loan forgiven, repayment will begin 6 months after the student ceases to be enrolled.  There will be no interest charged on the loan unless a judgment is obtained against the borrower for default in payment.  If interest in assessed, it will be at the rate specified in section 304.003 of the Texas Finance Code. Priority in awards is given to renewal recipients and students who failed to receive a TEXAS Grant due to lack of funding.

*Students awarded this loan must go to HHLoans after receiving their Award Letter, complete the B-On-Time Loan application with the Texas Higher Education Coordinating Board and sign the required promissory note and disclosures.  Students should exhaust all federal aid options (including grant, loan, and workstudy programs) before utilizing a private student loan.  The repayment terms and conditions of a federal student loan may be more favorable than the provisions of a private student loan.  

Federal Stafford Loan

Subsidized Federal Stafford Student Loans

  • Awarded to eligible students on the basis of documented financial need.
  • These loans do not accrue interest during eligible in-school and grace periods.
  • In most cases payments are not required as long as the student is enrolled at least half time.
  • Click HERE for required application forms. 
  • Effective July 1, 2012, this loan will no longer be available to graduate students.

Unsubsidized Federal Stafford Student Loans

  • Not limited to students with documented financial need.
  • Interest begins to accrue when funds are disbursed.
  • Repayment of principal and interest may be deferred until the student no longer meets enrollment requirements. 
  • Click HERE for required application forms. 

Maximum Annual Loan Limits

Borrower's Academic Level Classification Dependent Student Sub & Unsub Independent Student Sub Independent Student Unsub
Freshman $5,500 $3,500 $6,000
Sophomore $6,500 $4,500 $6,000
Junior/Senior $7,500 $5,500 $7,000
Graduate N/A $8,500

$12,000

Graduate (effective July 1, 2012)                        N/A N/A $20,500

Aggregate Loan Limits

Dependent
Undergraduates
Subsidized + Unsubsidized
(No more than $23,000 can be Subsidized)
$31,000
Independent
Undergraduates
Subsidized only $23,000
Independent
Undergraduates
Unsubsidized & Subsidized $57,500
Graduates Subsidized only
(Includes undergraduate loans)
$65,500
Graduates Unsubsidized + Subsidized
(Includes undergraduate loans)
$138,500

Federal Parent Loan for Undergraduate Students

  • The Federal Parent Loan is a loan made to the parent of an eligible undergraduate dependent student for the student's allowable educational costs.
  • The student for whom the Federal Parent Loan funds are borrowed must maintain at least half-time enrollment in an eligible degree program.
  • These loans begin to accrue interest as soon as loan proceeds are disbursed; repayment begins within 60 days after the loan is fully disbursed or can be deferred while the student is enrolled at least half-time in an eligible degree program. The parent must also complete the TWU Parent Loan Request Form [PDF] and submit the form to the TWU Financial Aid Office.
  • NOTE:  Dependent students may apply for additional Federal Unsubsidized Stafford Loans if their parents are denied a Federal Parent Loan because of adverse credit. 
  • Click HERE for required application forms. 

Federal Graduate Plus Loan

  • The Graduate PLUS Loan is made to degree or certification seeking graduate students enrolled half-time or more, who have been awarded or notified of their maximum eligibility for a Federal Stafford Loan. 
  • A credit check is required and FAFSA results must be on file with the Financial Aid Office. 
  • A creditworthy cosigner is required for applicants who fail the credit test. 
  • Students may borrow up to the cost of attendance minus other financial aid received. 
  • Interest begins to accrue from the date of disbursement and continues through any deferment or forbearance until the loan is paid in full. 
  • Payments of principal and interest may be deferred during periods of enrollment of at least half-time (6 hours/semester or more). 
  • Interest payments not made during periods of enrollment or deferment will be capitalized.
  • Click HERE for required application forms.

Federal Perkins Loan

  • Federal Perkins Loans are available to undergraduate and graduate students on the basis of exceptional financial need as documented from the FAFSA.
  • Undergraduate students may borrow up to $4,000 per year and graduate students may borrow up to $6,000 per year not to exceed an aggregate limit of $20,000 for undergraduates and $40,000 for graduates.
  • Entrance loan counseling is required EACH year for Federal Perkins Loan borrowers.
  • The first payment on the Federal Perkins loan is delayed for 30 days following the first date of enrollment for first-time borrowers. In addition, each disbursement on a Federal Perkins Loan must be reported to a national credit bureau.
  • Annual interest rate is 5%.
  • Interest does not accrue and repayment is not required as long as the student is enrolled for at least six semester hours in a degree program.
  • Repayment begins nine months after the student graduates or ceases to be enrolled for at least six semester hours.
  • Under certain circumstances a portion of the loan may be cancelled for designated public service. 
  • Click HERE for required application forms. 

The lender for the Federal Perkins Loan is Texas Woman's University. TWU utilizes the loan billing services of ACS, Inc. After you graduate or drop below half-time enrollment, all general billing questions should be directed to ACS at 800-826-4470, ext. 2810. Questions regarding forbearance or deferment should be directed to ACS at 630-620-2810 or log on to ACS Borrower Services.

Nursing Student Loan

  • Nursing Student Loans are awarded to eligible nursing students with high documented financial need.
  • Students may borrow up to $5,500 per year in their 1st and 2nd year of study and up to $8,000 per year in their 3rd and 4th year of study, up to an aggregate of $27,500. Graduate students may borrow up to $8,000 per year, up to an aggregate of $60,000.
  • Annual interest rate is 5%.
  • Interest does not accrue and repayment is not required as long as the student is enrolled for at least six semester hours as a nursing major.
  • Repayment begins nine months after a borrower graduates or ceases to be enrolled for at least six semester hours as a nursing major.
  • Students who change their major form Nursing go into immediate repayment.  Such students may request an annual forbearance if enrolled full time.
  • Entrance loan counseling is required EACH year.
  • Click HERE for required application forms. 

The lender for the Nursing Student Loan is Texas Woman's University. TWU utilizes the loan billing services of ACS, Inc. After you graduate or drop below half-time enrollment, all general billing questions should be directed to ACS at 800-826-4470, ext. 2810. Questions regarding forbearance or deferment should be directed to ACS at 630-620-2810 or log on to ACS Borrower Services.

College Access Loan (CAL)

  • The CAL is a loan offered by the Texas Higher Education Coordinating Board to Texas residents who receive a favorable credit evaluation or provide a cosigner who has a good credit standing and meets other requirements.
  • Interest rates are set annually and interest begins to accrue from the time funds are disbursed, but repayment of principal may be deferred until the student no longer meets enrollment requirements.
  • Repayment begins six months after the students ceases to be enrolled at least half time (six credit hours).
  • Students may borrow up to their cost of attendance, less other financial aid awards, each year. 
  • Students should exhaust all eligibility for grants and Federal Stafford Loans before applying for this loan.
  • Click HERE for required application forms.
  • Students applying for the CAL should go online to HHLoans to complete the application/promissory note and disclosures.

Students should exhaust all federal aid options (including grant, loan, and workstudy programs) before utilizing a private student loan. The repayment terms and conditions of a federal student loan may be more favorable than the provisions of a private student loan.

Comparison of Loan Repayment Plans

The following link allows you to compare student loan repayment plans to help you visualize the difference in repayment terms, interest accrued, and the total amount paid. Consider all of these factors when deciding to borrow, determining how much to borrow, and choosing the repayment plan that's right for your particular financial situation.

Comparison of Repayment Plans

Loan Repayment Calculator