General Loan Comparison Information, 2011-2012
Type
of Loan |
Amounts |
Eligibility |
Interest,
Fees, Repayment |
Lender |
How
To Apply |
Additional
Information |
| Federal Subsidized Stafford Student Loan | $8,500 per year. Maximum of $138,500 including Unsubsidized Stafford Loans. | FAFSA required. Applicants must demonstrate financial eligibility. | 6.8% fixed simple interest, and .5% loan fee deducted from disbursement. Interest does not accrue while in school. Repayment begins 6 months after the date the student is no longer enrolled at least 1/2 time (or student graduates). | U.S. Department of Education
|
Applicants must file FAFSA. Eligibility will be determined by the financial aid office and will be awarded to students who are eligible. | Eligible students will be awarded this loan when they file the FAFSA. |
| Federal Unsubsidized Stafford Student Loan | up to $20,500 per year (when combined with any Subsidized Stafford Loan above)- not to exceed student's cost of attendance | FAFSA required, but financial need eligibility not required. | 6.8% fixed simple interest, and .5% loan fee deducted from disbursement. Interest accrues, but no payments required while in school. Repayment begins 6 months after the date the student is no longer enrolled at least 1/2 time (or student graduates). | U.S. Department of Education |
Applicants must file FAFSA. Eligibility will be determined by the financial aid office and will be awarded to students who are eligible. | Eligible students will be awarded this loan when they file the FAFSA. |
| Federal Graduate PLUS Loan | Cost of Attendance - Total Aid Received = Federal Graduate PLUS
Eligibility |
For GRADUATE and PROFESSIONAL STUDENTS ONLY. FAFSA required. A credit check is performed. Student must borrow Stafford eligibility before being considered for Federal Graduate PLUS. | 7.9% fixed simple interest, and 2.5% loan fee deducted from disbursement. Interest accrues immediately; most lenders offer forbearance of the loan while the student is enrolled at least half time. This loan CAN be consolidated with Stafford loans. | U.S. Department of Education |
Students can apply online, AFTER Stafford loans have been awarded by TCU, at www.studentloans.gov. Federal PIN (FAFSA PIN) is required for application process. | Loan can be denied by lender due to adverse credit history. |
| Texas College Access Loan | Cost of Attendance - Total Aid Received = Texas
College Access Loan Eligibility |
For TEXAS RESIDENTS ONLY. FAFSA required. A credit check is performed. Many borrowers will require a cosigner to be approved. | 6% fixed simple interest; loan fee either 3% or 5% depending on credit. Interest accrues immediately; Repayment begins 6 months after the date the student is no longer enrolled at least 1/2 time (or student graduates). This loan CANNOT be consolidated. | State of Texas |
Students can apply online at www.hhloans.com. | LIMITED ALLOCATION available to TCU students. Loan can be denied by lender due to adverse credit history. |
| Private Educational Loans | Cost of Attendance - Total Aid Received = Private
Loan Eligibility |
Eligibility varies per lender and most lenders require a cosigner. A credit check is performed | Varies per lender; usually based on credit rating of borrower and/or cosigner. | Applicants must choose a lender. | Apply online through any participating lender. TCU's private loan lender recommendations are listed here. | Cosigner is equally liable for the loan when repayment begins. |
Debbie Mar, Manager
Graduate Aid Programs
Financial Aid
Sadler Hall Room 3101
817-257-7872
