Office of Student Financial Assistance
Loans
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
- You are not obligated to accept any loans offered to you if you do not need them.
- Never borrow more than what you need when considering loans.
- Pre-Loan and exit loan counseling is required on all loans.
B-On-Time Loan
The Texas B-On-Time Loan program provides eligible Texas students no-interest loans to attend Texas institutions. If you meet specified goals, the entire loan amount can be forgiven upon graduation.
Eligibility Requirements
- You must have completed a FAFSA and be eligible to receive federal aid.
- You must be enrolled full-time in an undergraduate degree or certificate program.
- You must be a Texas resident or be entitled to pay resident tuition rates as a dependent child of a member of the U.S. armed forces., AND
- You must have graduated in the 2002-2003 academic year or later from a high school operated by the U.S. Department of Defense or under the recommended high school program from a public or accredited private high school in Texas., OR
- You must have earned an associate’s degree from an eligible institution no earlier than May 1, 2005.
- If you are offered a B-On-Time Loan, you will be required to complete an application and promissory note online.
Persons who have earned a bachelor’s degree are not eligible for B-On-Time loans.
For a full list of details and information about the B-On-Time Loan, click here.
CAL Loan
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 6%; this rate is subject to change.
Eligibility Requirements
- You must be a Texas resident.
- You must be enrolled at least half-time as an undergraduate, post-baccalaureate, or graduate student in a course of study leading to an associate, bachelor, graduate or higher degree or be enrolled in an approved Alternative Educator Certification Program.
- You must meet Satisfactory Academic Progress requirements.
- You must receive a favorable credit evaluation or provide a cosigner who has good credit standing and meets other requirements
- You must receive additional counseling and exhaust all other federal aid before applying for this loan.
For a full list of details and information about the CAL Loan, click here.
Emergency Loan
Emergency loans for payment of tuition and fees or supplies/textbooks are available through the University's Business Office on a limited funds basis.
Eligibility Requirements
- You must meet Satisfactory Academic Progress requirements.
- You must be be enrolled and in good academic standing.
- You must have a good credit history with the University
- You must have a reliable means of repayment or have a co-signer.
Perkins Loan
The Federal Perkins Loan is a campus-based program available to both undergraduate and graduate students with exceptional financial need. The amount you can receive varies depending upon your financial need.. The interest rate for a Federal Perkins Loan is 5%. Repayment begins nine months after leaving school or dropping below half-time status.
Eligibility Requirements
- You must be a U.S. citizen or eligible non-citizen.
- You must be enrolled at least half-time as an undergraduate, post-baccalaureate, or graduate student.
- You must demonstrate exceptional financial need.
For a full list of details and information about the FSEOG, click here.
If you received a Perkins loan while attending TX A&M-Corpus Christi, you can find out information on you 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
PLUS Loan
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 interest rate on a PLUS loan is at an 8.5% fixed rate .
Eligibility Requirements
- You must be a U.S. citizen or eligible non-citizen.
- You must be enrolled at least half-time in an undergraduate degree program.
- You must demonstrate financial need.
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. 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.
Subsidized Stafford Loan
Stafford Loans 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 Stafford loans regardless of credit. The interest rate on the Subsidized Stafford Loan is currently fixed at 5.6%. 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.
Eligibility Requirements
- You must be a U.S. citizen or eligible non-citizen.
- You must be enrolled at least half-time as an undergraduate, post-baccalaureate, or graduate student.
- You must have completed a FAFSA.
- You must have completed high school or equivalent (e.g., GED).
- You must not be in default or delinquent on any existing federal loan.
For a full list of details and information about Stafford Loans, click here.
Unsubsidized Stafford Loan
Stafford Loans 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 Stafford loans regardless of credit. The Federal Unsubsidized Stafford Loan program is open to students who may not qualify for subsidized Federal Stafford Loans. This loan has the same terms and conditions as Subsidized Stafford Loans, except the government does not pay interest on the student's behalf. The unsubsidized interest rate is currently at 6.8%.
Eligibility Requirements
- You must be a U.S. citizen or eligible non-citizen.
- You must be enrolled at least half-time as an undergraduate, post-baccalaureate, or graduate student.
- You must have completed a FAFSA.
- You must have completed high school or equivalent (e.g., GED).
- You must not be in default or delinquent on any existing federal loan.
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 Stafford Loans, click here.
Selecting a lender
Which lender you choose to establish your loan(s) with is entirely up to you and a decision that must be made prior to your loan(s) being funded. You may choose a lender from a list we can provide to you (see below) or you may choose a lender of your choice. Once you select a lender that you want to utilize while enrolled at Texas A&M University-Corpus Christi, you must complete the necessary steps to obtain the loan in order to receive your loan funds.
Two points to consider when choosing a lender:
- Exceptional customer service: Does the lender offer extended hours and the ability to get a person rather than a recording? Does the lender have the ability to access your loan information via a toll-free number and online? Does the lender offer any other services to you as a customer, such as debt counseling or planning tools?
- Savings to you, the borrower: Does the lender offer any benefits to you as a borrower for auto debit, graduation, or on-time payment? Interest rates are set by the federal government, but many lenders offer additional benefits, such as discounted fees or interest rate reductions. Most lenders offer a 0.25% interest rate reduction for auto debit, but not all. Be sure to know what you need to do to qualify for any benefit offered.
If you are unsure where to start, contact a couple of lenders and ask them some of the questions listed above. If you need additional assistance, please feel free to contact our office.
About our lender list
Our University conducts a lender survey in order to determine who is placed on our lender list. The Lender List Survey is conducted through List-Assist, a tool provided by TG, our Guarantor, and lenders are invited to submit responses. All lenders that submit a response and continue to participate in the program are placed on our list. We ask that you carefully review all loan lenders and research their policies and loan terms to decide which lender is best for you. For more information on our lender list, please contact our office.
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 New Student Orientation.
Exit Loan Counseling
Should you take out any student loans, you will be required to complete an exit loan counseling session if:
- You are graduating.
- You are withdrawing from the University.
- You are dropping below half-time enrollment status.
- You are not enrolling or are no longer enrolled.
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 Mapping Your Future. 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.
