Office of Financial Aid

The Federal Direct Loan program is made available by the US Department of Education. Undergraduate and Graduate degree-seeking students enrolled at least half-time may be eligible for a student loan. Students are offered Federal Direct Loans by completing their FAFSA and having it sent to TAMIU. There are two types of Federal Direct Loans that students may be offered.

The federal government charges an origination fee for Subsidized and Unsubsidized loans, which is taken out of the disbursed amount.

Current Origination Fee = 1.057%**

**Origination Fees are subject to change, for the most up-to-date rate, visit StudentAid.gov

Federal Direct Subsidized Loans

The Federal Direct Subsidized Loan is available to only undergraduate students who demonstrate need as determined by the FAFSA. The U.S. Department of Education pays the interest accrued on these loans while the student is enrolled at least half-time, for the first six months after the student leaves school, and during a deferment period.

Federal Direct Unsubsidized Loans

The Federal Direct Unsubsidized Loan is available to undergraduate and graduate students who have filed a FAFSA. Interest accrues on these loans while the student is in school.

Steps to Receive a Loan
For a student to borrow a loan, the following steps must be completed:

• Students must complete a FAFSA and all other financial aid requirements every academic year.
• Be enrolled at least six credit hours each semester as an undergraduate student and three credit hours each semester as a graduate student.
• Meet TAMIU's Satisfactory Academic Progress (SAP) Policy.
• Complete Online Entrance Counseling
• Complete a Master Promissory Note

Federal Direct Loan Limits
Congress limits how much a student can borrow in direct loans per academic year and the total amounts they can borrow for their undergraduate and graduate study.

Interest and Repayment
After a student graduates, leaves school, or drops below half-time enrollment, the student will have a six-month grace period before they are required to begin repayment. During this period, they will receive repayment information from their loan servicer and be notified of their first payment due date. Both loan programs offer multiple repayment plans from 10 to 25 years. The interest rate can vary depending on the year the loan is taken. Learn about your repayment options.

Current Interest Rates***

***Interest Rates are subject to change, for the most up-to-date rate, visit StudentAid.gov

The Federal Direct Parent PLUS Loan is a federal loan available to parents of dependent undergraduate students. If your student needs additional funding to help with the cost of college, parents can apply for this credit-based loan at StudentAid.gov

An origination fee for Federal Direct Parent PLUS Loans is removed from the disbursed amount.

Current Origination Fee = 4.228%**

**Origination Fees are subject to change, for the most up to date rate, visit StudentAid.gov

How to Apply for a Federal Direct Parent PLUS Loan

Biological, adoptive, or stepparents can apply for a Parent PLUS loan if their undergraduate student has a FAFSA. Here are the steps involved:

• Go to https://studentaid.gov/plus-app/parent/landing
• Click on the “Log in to Start” option.
• Complete each section listed (student information, borrower information, etc.)
• Agree to a credit check and view your instant decision.

After the student receives their credit decision, TAMIU will be notified of the outcome. If approved, the loan will be certified for the amount requested. If denied, students will be offered an increased Federal Direct Unsubsidized Loan. Parents must also electronically sign a Master Promissory Note (MPN)

Interest and Repayment Options

Parent Plus borrowers are eligible for several repayment plans. Learn about repayment options. The interest rate can vary depending on the year the loan is taken.

Current Interest Rates***

***Interest Rates are subject to change, for the most up-to-date rate, visit StudentAid.gov

The Federal Direct Graduate PLUS Loan is a federal loan available to graduate students. If students need additional funding to help with the cost of college, they can apply for this credit-based loan at StudentAid.gov. You will need to have a complete FAFSA on file to apply.

An origination fee for Federal Direct Parent PLUS Loans is taken out of the disbursed amount.

Current Origination Fee = 4.228%**

**Origination Fees are subject to change; for the most up-to-date rate, visit StudentAid.gov

How to Apply for a Federal Direct Graduate PLUS Loan

After graduate students have exhausted Federal Direct loan limits, any remaining cost can be covered by the Federal Direct Graduate PLUS loan. Here are the steps involved with applying for this loan:

• Go to https://studentaid.gov/plus-app/grad/landing
• Click on the “Log in to Start” option.
• Complete each section listed borrower information, etc.)
• Agree to a credit check and view your instant decision.
• Complete Online Entrance Counseling
• Complete a Master Promissory Note

After the student receives your credit decision, TAMIU will be notified of the outcome. The loan will be certified for the amount requested if approved.

Interest and Repayment Options

There are several repayment options available that are designed to meet the individual needs of borrowers. The student's loan servicer can help them understand which repayment options are available. Learn about repayment options.

Current Interest Rates***

***Interest Rates are subject to change, for the most up-to-date rate, visit StudentAid.gov

The emergency tuition loan assists students in paying tuition and fees. To qualify, the student must be enrolled, 18 years old, and have no outstanding balance due to the University. A $30.00 application fee (non-refundable fee) must be paid at the time of the request. Emergency Tuition loans are available online at UConnect or in person at the Bursar’s Office.

For additional information, contact the Bursar's Office at 956.326.2140 or email businessoffice@tamiu.edu.
For more information on how to process an Emergency Loan online, please follow the Online Payment Instructions.

The emergency book loan helps students purchase textbooks. To apply for a book loan, the student must be registered, 18 years old, present their TAMIU student ID card, pay a $30.00 processing fee (non-refundable fee), and apply at the Business Office.

For additional information, contact the Bursar's Office at 956.326.2140 or email businessoffice@tamiu.edu.
For more information on how to process an Emergency Loan online, please follow the Online Payment Instructions.

Private Alternatives Loans are educational loans available through private lenders. They are not part of the federal government loan program and are intended to supplement traditional financial aid programs. These loans require a student to be credit-worthy or have a credit-worthy co-signer. Terms, interest rates, and fees vary by lender. Students are encouraged to research various alternative loan options and select the one that best fits their circumstances.

Before considering or applying for an alternative loan, students are encouraged to submit a financial aid application to check their eligibility. Federal student loans often provide better interest rates, terms, and repayment flexibility than alternative loans. Private loans should be used when you have exhausted all other options, including federal aid and scholarships.

You are free to select any private lender offering alternative loans. While TAMIU does not recommend any specific lenders for alternative loans, we recommend comparing loans from several lenders to find the best interest rate, terms, and repayment options for your situation. TAMIU uses ELMSelect as an online, lender-neutral platform to display a historical list of lenders and education loan products our students have used over the past five years.

Borrowers with questions regarding federal or private student loans are encouraged to contact the Office of Student Financial Aid at 956.326.2225 for more information or individual assistance.

Explore Private Loans

When applying for an alternative loan, you must let the lender know the timeframe for which you want the loan, also known as the payment period. Use the following dates when applying:

Loan Certification

Borrowers must submit a Private Education Loan Applicant Self-Certification to their lender before funds can be disbursed. Your lender will provide you with this form when you apply for the private loan. You may also obtain a copy of this form here:Private Education Loan Self Certification. Private loan disbursements cannot be made until you have submitted this form to your lender.

Once you’ve applied and your alternative loan has been approved, your lender will send TAMIU the loan to be certified. The certification process typically takes one week; however, it increases to two weeks during peak times. If your alternative loan has not been certified and the payment deadline is nearing, you will need to make other payment arrangements to prevent late fees or being dropped for non-payment.

NOTE:

The Private Educational Loan Disclosures provide additional facts regarding private educational loans.

TAMIU has no written or implied preferred lender arrangement with any lender (Policy on Preferred Lender Lists).

The College Access Loan (CAL) is a program administered by the Texas Higher Education Coordinating Board (THECB) that provides alternative educational loans to Texas students who cannot meet the cost of attendance.

**The amount of federal aid a student is eligible for (regardless of whether accepted) must be deducted from the cost of attendance when determining the CAL loan amount. **

Student Eligibility Requirements

• Students MUST be Texas Residents.
• Be registered with Selective Service or be exempt.
• Students must be enrolled at 6 credit hours in a degree-seeking program or an approved alternative educator certification program.
• Students must make satisfactory academic progress (SAP) every semester.
• Students must be credit-worthy or have a credit-worthy co-signer and meet other requirements.
• TASFA applicants need a U.S. citizen cosigner.

Borrowing Limits

Students must borrow no less than $100 and up to the amount of their full cost of attendance minus all other financial aid they are eligible for, including the amount not yet accepted.

How to Apply

To apply for a College Access Loan, please visit HHLoans

Repayment Terms

• Loans have a six-month grace period from when a borrower ceases to be enrolled at 6 credit hours at an eligible institution.
• Principal balances under $30,000 have up to a ten-year repayment period with minimum monthly payments of $50.

Find out more about the eligibility, interest rates, and repayments associated with borrowing this loan on the state’s website.

The Future Occupations & Reskilling Workforce Advancement to Reach Demand (FORWARD) Loan Program is a low-interest loan designed for students in programs aligned with high-value credentials and high-demand occupations. Please refer to the full list to see if your program is eligible. Eligible credentials are reassessed annually. To qualify, you must be able to complete this program within two years or less.

Student Eligibility Requirements

• Students MUST be Texas Residents.
• Be registered with Selective Service or be exempt.
• Meet TAMIU’s satisfactory academic progress requirements.
• Receive a favorable credit evaluation or provide a good credit standing cosigner who meets other requirements.
• Not exceed the manageable loan debt calculated by the Texas Higher Education Coordinating Board.
• Be enrolled in a High-Demand Credential program that the student will be able to complete in two years or less; eligibility for the program ends two years from the start of the semester in which the student received the first loan through the Program.

Enrollment Requirements

• If enrolled in a degree program, complete at least 50% of the required coursework before receiving a loan through the Program.
• If enrolled in a non-degree program, the program’s duration must be less than two years.
• If enrolled in master's degree coursework, the master’s degree must be part of a combined baccalaureate master's program approved by the institution of higher education.

Borrowing Limits

Students must borrow no less than $100 and up to the amount of their full cost of attendance minus all other financial aid they are eligible for, including the amount not yet accepted.

How to Apply

To apply for a FORWARD Loan, please visit HHLoans

Repayment Terms

Find out more about interest rates and repayment options associated with borrowing this loan on the state’s website.

In compliance with Senate Bill (SB) 0887, colleges and universities must now provide detailed and transparent information in student debt letters regarding their loan obligations, including educational loans borrowed to date and their estimated future payments. This legislation enhances clarity and ensures students are fully informed about their financial responsibilities. Debt Letters will be sent out every academic year.

TRELLIS is a nonprofit corporation dedicated to supporting students and their families navigate the complex world of student loans. Their mission is to provide comprehensive resources and guidance to help you make informed decisions about financing your education and managing your student loan responsibilities. Click on the links below to learn more about:

Student Loans

Student Loan Repayment Options

Calculator for Student Borrowers

Handling Default

Loan Repayment Programs for professionals are dedicated to supporting the professional growth of students by alleviating the burden of educational debt. Their programs offer valuable assistance in managing and repaying student loans, enabling professionals to focus on their vital work.

To explore the different Loan Repayment Programs, click here.

To explore additional different Loan Repayment Programs, click here.

The Public Service Loan Forgiveness (PSLF) Program is a federal initiative designed to provide loan forgiveness to individuals working in qualifying public service jobs. This program aims to encourage and support careers in public service by offering student loan relief after a specific service periods.

Eligibility Criteria:

• Employment: Full-time employment with a qualifying public service organization.
• Loans: Direct Loans (Subsidized, Unsubsidized, PLUS, or Consolidation Loans).
• Repayment Plan: Enroll in a qualifying repayment plan.
• Payments: make 120 qualifying monthly payments made while working full-time in a qualifying job.

Additional Information:

For more detailed information and to check if you qualify, visit the Federal Student Aid website. You can also use their PSLF Help Tool to guide you through the process and determine your eligibility.

Teacher Loan Forgiveness is a federal initiative designed to alleviate the burden of student loan debt for educators who dedicate themselves to teaching in low-income schools. Under this program, eligible teachers can have up to $17,500 of their federal student loans forgiven after five consecutive years of full-time service in a qualifying educational setting.

Eligibility Criteria:

• Work full-time in a low-income school or educational service agency.
• Have been employed in such a position for at least five consecutive years.
• You must have been employed at an elementary school, secondary school, or educational service agency that serves low-income students

Additional Information:

For more detailed information and to check if you qualify, visit the Federal Student Aid website.