Borrowing money for school can be a confusing and daunting process for students and their families. Selecting a loan or combination of loans that meet your specific needs is cruc/enrollmentservices/financialaid/typesofaid/loans/ial to your financ/enrollmentservices/financialaid/typesofaid/loans/ial well-being for many years after you leave school.
Each loan option has it's own eligibility and repayment terms. It is important that you select the loan option that best fits your specific needs. Detailed information for each loan option can be found by clicking on the individual links.
This guide will provide a brief overview of the Federal Direct Stafford, Federal Direct Parent PLUS and the Federal Direct Graduate/Professional PLUS loan programs, as well as State, and Consolidation loans.
Due to their fixed interest rates, and various repayment options offered by the federal loan programs, 51²è¹Ý recommends the use of federal loans prior to selecting a private/alternative (credit-based) loan.
Loan |
Interest |
Eligibility |
Terms |
How to Apply |
FEDERAL Direct Subsidized
(no credit check required) |
6.53% fixed
|
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FEDERAL Direct Unsubsidized(no credit check required) |
6.53% fixed for Under-graduate students
8.08% fixed for Graduate students
|
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|
Credit-Based Loan Options(The following loans require an additional application for credit approval. See application instructions below) |
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FEDERAL Direct Parent PLUS
(Requires additional application for credit approval) |
9.08% fixed |
|
|
(PARENT must go to to submit application for credit approval. Those who apply with a credit-worthy endorser or negative credit appeal a decision must complete credit counseling) |
FEDERAL Direct Graduate PLUS
(Requires additional application for credit approval) |
9.08% fixed |
|
|
(Student must go to to submit application for credit approval. Those who apply with a credit-worthy endorser or receive a negative credit appeal decision must complete credit counseling) |
STATE of TEXAS
College Access Loan – CAL
(Requires additional application for credit approval) |
6.30% |
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|
Private/Alternative Various Private-Alternative Loans
(Requires additional application for credit approval). |
Varies |
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For more Details on Loan options follow the links below:
- Federal Direct Subsidized /Federal Direct Unsubsidized Loan
- Federal Direct Parent Plus and Graduate Plus Loan
- State Loans & Private Loan
For information on the percentage of 51²è¹Ý students who borrow, the Cohort Default Rate (CDR) as calculated by the U.S. Dept. of Education, and how the CDR compares with other schools, please go to the .