An educational loan is a legally binding contract that must be repaid with interest, even if you do not graduate, find a job, or if you are not satisfied with the education you received.
Good things to know about loans
The College Access Loan Program (CAL) provides alternative education loans to Texas students who are unable to meet the cost of attendance. Maximum annual amounts are determine by our office and are subject to change depending on available funds. Interest rates are a fixed annual rate of 5.30%; this rate is subject to change.
For a full list of details and information about the CAL Loan, click here.
Emergency loans for payment of tuition and fees or supplies/textbooks are available through the University's Business Office on a limited funds basis.
The Federal Parent PLUS Loan is a loan borrowed by a parent on behalf of a child to help pay for tuition and school related expenses. A PLUS Loan allows a parent to borrow the total cost of undergraduate education including tuition, room and board, and any other eligible school expenses, minus any aid the child is receiving in their name. The Plus Loan is a credit based loan and requires good or favorable credit, or a cosigner. The interest rate on a PLUS loan is at an 7.60% fixed rate .
The parent borrower must begin repayment of the loan within 60 days of the loan disbursement and they have up to ten (10) years to repay the loan. Parents can also request a deferment while their child is still at least a part time student. Be aware that first-year, first-time borrowers must wait thirty (30) days from the beginning of the semester for the first disbursement.
For a full list of details and information about the Parent PLUS Loan, click here.
Direct Subsidized are federal student loans made available to college and university students to supplement personal and family resources, scholarships, grants, and work-study. Nearly all students are eligible to receive Direct Subsidized regardless of credit. The interest rate on the Subsidized Stafford Loan is currently fixed at 5.05%. The federal government pays the interest to the lender on the subsidized loans during the student's enrollment, during the grace period, and during authorized periods of deferment on a Subsidized Loan.
For a full list of details and information about Direct Subsidized, click here.
Direct Unsubsidized are federal student loans made available to students to supplement personal and family resources, scholarships, grants, and work-study. Nearly all students are eligible to receive Direct Unsubsidized regardless of credit. The Federal Unsubsidized program is open to students who may not qualify for Federal Direct Subsidized loans. This loan has the same terms and conditions as Subsidized Direct loans, except the government does not pay interest on the student's behalf. The unsubsidized interest rate is currently at 3.76% for Undergraduate Students and 6.60% for Graduate students.
Be aware that first-year, first-time borrowers must wait thirty (30) days from the beginning of the semester for the first disbursement.
For a full list of details and information about Direct Unsubsidized Loans, click here.
Entrance Loan Counseling
Before you are allowed to take out any loans, you must complete an Entrance Loan Counseling session. This can be done online when guaranteeing your loans or by attending an Entrance Loan Counseling Session at Islander Launch.
Exit Loan Counseling
Should you take out any student loans, you will be required to complete an exit loan counseling session if:
You may complete an Exit Loan Counseling session by attending one of our in-person exit programs on campus (please contact our office for dates and times) or online via the National Student Loan Data System (NSLDS). Failure to complete an Exit Loan Counseling session will result in a hold being placed on your student record. This hold will prevent you from registering for classes, obtaining transcripts, and other official academic matters.
Alternative (Private) Loans - New
Alternative (private) loans are administered and processed by private lending institutions to be used for educational costs after exhausting potentially more favorable federal and state financial aid options first.
Points to consider when choosing a lender
Please use these general loan term dates when filling out an application. However, your loan will be processed using specific enrollment dates for your program. Loans can be disbursed up to 10 days prior to the start of classes, provided the lender has released the funds to Texas A&M University-Corpus Christi.
Please be advised that at this time we are not awarding the Perkins Loan due to Federal Close Out of the program.
If you received a Perkins loan while attending TX A&M-Corpus Christi, you can find out information on your outstanding loan by visiting the Campus Partners (www.campuspartners.com) web site. You can also contact Campus Partners at 800-334-8609 or at PO Box 2902, Winston-Salem, NC 27102