Lenders

Factors to consider when choosing a lender...........Currently we are not recommending any lenders.

Stafford Loans- Students will be notified by the University of their financial aid award package. At that time, students are required to select a lender. Most lenders utilize our electronic processing procedures to speed the delivery of loan proceeds. We recommend keeping all of your Stafford loans with one lender for convenience. This will avoid confusion of having to make payments to several different lenders once in repayment. Beginning fall 2007 the Stafford limit will be $20,500 per academic year ($8500 subsidized and $12,000 unsubsidized) with a fixed 6.8% interest rate and a 6 month grace period.

Grad Plus Loans - Federal credit-based loans are for students who require education funding up to the Cost of Education (COE), minus any other financial aid. Students must apply through Loans by Web. Do Not Apply Through the Lender. Once credit approved, the lender will notify the school for certification.

Here are a few facts about the Grad PLUS Loan:

Fixed 8.5% interest rate for the life of the loan.

No loan limits - borrow up to the full cost of education annually minus any other financial aid received.

Minimal credit requirements. Approval is not based on income, financial need or a debt-to-income ratio. Borrowers may be up to 180 days late on payments on their primary mortgage or medical bills and still qualify for these federal loans. Previously, no bill could be more than 90 days past due to meet the federal government’s basic credit test.

No payments required while in school Student will go into repayment once they drop below ½ time (6 hours) or upon graduation.

Deferment and forbearance options are available during periods of financial difficulty or bar study.

Flexible repayment options including Level, Extended, Graduated and Income Sensitive plans.

College Access Loan Program (CAL) - Private loan, within the Cost of Attendance (COA), through the Texas Higher Education Coordinating Board.

Alternative Loans - You can review the Greentree Gazette for a comparison chart to determine which loan product best serves your needs.

Bar Loans- Credit based private loans available to law students who are in their final year of study and need resources to finance expenses associated with studying for the Bar examination. Processing fees may be deducted at disbursement and a supplemental guarantee fee may be charged at repayment. Disbursement(s) is (are) made payable to the graduate at their requested mailing address.

revised 3/09