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Loans are money that is borrowed and you must  pay backLoans enable students and parents to borrow money from the federal government, state government, or private lenders. It is important for students and parents to be well informed of the terms and conditions of loans prior to borrowing. Loans offered by the federal government, usually call federal student loans, offer borrowers lower interest rates and have more flexible repayment options than conventional loans. Students may choose to decline or lower the amount of loan offered in your  financial aid award package.


Alternative Loans

Alternative (private) loans are managed and processed by private lending institutions to be used for educational or housing costs after exhausting all federal and state financial aid options, or in conjunction with the financial aid award. 

 ELMselect is an online, lender-neutral, platform to display a historical list of lenders that students have used over the past five years. Visit ELMSelect to search for an Alternate Loan.

College Access Loan or the CAL loan program provides alternative educational loans to Texas students who are unable to meet the cost of attendance. Click here to find out more information about the requirements and qualifications of this program. 

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Is there a time limit on how long I can receive loans?  Open
What are the current interest rates?  Open
Other than interest, is there a charge for this loan?  Open
What if my parents are ineligible for a Direct PLUS Loan?  Open

What steps should I take to apply for a loan?

Federal Subsidized and Unsubsidized Loans  Open
Federal Direct Graduate PLUS Loan Programs  Open
Federal Direct Parent PLUS Loan Programs  Open

Direct Loan Origination Fee Calculator

Use this calculator to determine the amount of money that you will either receive from your loan or the amount you need to request after the origination fee. All amounts below are represented in U.S. dollars.



*The origination fee is charged by the Department of Education for each federal student loan you receive. It is a percentage of the total loan amount you are borrowing (request/awarded amount). The loan fee is deducted proportionately from each disbursement of your loan. This reduces the actual loan amount you receive (needed/received amount). The specific loan fee that you are charged will be included in a disclosure statement you will receive after the first disbursement of your federal student loan. You will be required to repay the request/awarded amount.