Loans
To apply for Federal Student Aid Direct Loans (William D. Ford Federal Direct Loans), students are required to:
- Apply to TCC
- Apply for Federal student aid to determine need and loan type.
- Submit a Direct Loan Request Form:
- 2011-2012 Direct Loan Request Form (for Summer 2012)
- 2012-2013 Direct Loan Request Form (for Fall 2012, Spring 2013 and Summer 2013)
- Complete loan entrance counseling provided by the U.S. Department of Education.
- Complete a master promissory note after being awarded funds.
Types of Loans
Federal Subsidized Stafford Loan - is awarded on the basis of financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government pays the interest while you are in school. You must be enrolled in at least 6 semester hours.
Federal Unsubsidized Stafford Loan - is not awarded on the basis of need. You will be charged interest from the time that the loan is disbursed until it is paid in full. You must be enrolled in at least 6 semester hours.
Federal Stafford Annual Loan amounts*, effective July, 1 2008, are:
| Dependent Students | Independent Students | |||
|---|---|---|---|---|
| Subsidized | Unsubsidized | Subsidized | Unsubsidized | |
| 0 - 29 hours | $3,500 | $2,000 | $3,500 | $6,000 |
| 30 hours + | $4,500 | $2,000 | $4,500 | $6,000 |
* This reflects the maximum loan amount a student may receive in a single academic year. Loan amounts may be adjusted down based on an individual's cost of attendance (COA).
New! Undergraduate Loan Terms, effective July 1, 2012.
Be-On-Time Loan (BOTL) - no-interest loan made available by the state of Texas. Students who meet specified program goals may have their entire loan forgiven. Recipients are required to pay a 3% origination fee and enroll in at least 12 hours. The annual award amount is $1,890 ($945/semester). BOTL details are available online.
National Student Loan Data System (NSLDS)
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid.
NSLDS receives data from schools, guaranty agencies, the Direct Loan program and other Department of ED programs.
NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants, so recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. The system can help you learn about your loan status, assist with repayment methods to keep your loan out of default and keep you aware of where your loan debt is currently.
Federal Student Aid Calculators
Plan ahead! What will your monthly loan payments be?
Use the Federal Student Aid Calculators to estimate your monthly loan payment.
Updated May 9, 2012