One West University Boulevard, Brownsville, Texas 78520 | 956-882-8200

LOAN TYPES & ELIGIBILITY

Direct Subsidized Loan

The Direct Subsidized Loan is a need-based loan. A student must have financial need (based on the FAFSA results) in order to qualify. The federal government will pay the interest on the loan while the student is in school at least half time and during any deferment period. The student begins repayment (of principle and interest) when they stop attending school on at least a half time basis. Students have a six month grace period and then begin repaying their loan.

Eligibility

  • Must have financial need (based on the FAFSA results)
  • Must be enrolled at least half time
    • Undergraduate students – 6 credit hours
    • Graduate students – 5 credit hours
  • Must maintain Satisfactory Academic Progress (SAP)
  • May not exceed annual or lifetime loan limits

 

Direct Unsubsidized Loan

The Unsubsidized Direct Loan is NOT a need-based loan. A student does NOT have to demonstrate financial need to qualify. Interest begins to accrue on the loan once the first disbursement is made. Students can either pay the interest while attending school, or have the interest added to the balance of their loan. The student begins repayment when they stop attending school on at least a half time basis. Students have a six month grace period and then begin repaying the loan.

Eligibility

  • Must complete the FAFSA
  • Must be enrolled at least half time
    • Undergraduate students – 6 credit hours
    • Graduate students – 5 credit hours
  • Must maintain Satisfactory Academic Progress (SAP)
  • May not exceed annual or lifetime loan limits

 

Direct Parent Loan (PLUS)

The Direct Parent Loan is for parents of dependent, undergraduate students. Interest begins to accrue on the loan once the first disbursement is made. Parents will have a sixty day grace period after the second disbursement is issued. The parent begins repayment of the loan after the grace period ends, and while the student is still attending college. Parents have deferment options that will allow a parent to delay repayment while the student is in school at least half time.

Eligibility

    • Dependent student must complete the FAFSA
    • Dependent student must be enrolled at least half time
      • Undergraduate students – 6 credit hours
    • Dependent student must maintain Satisfactory Academic Progress (SAP)
    • Parent must pass a credit check
      • If the parent is denied the PLUS Loan due to credit, the dependent student may apply for additional unsubsidized loan funds
    • Parent cannot borrow more than the Cost of Attendance (less all other financial aid)

    Direct Graduate PLUS Loan (GradPLUS)

    The Direct Graduate PLUS Loan is for graduate and professional students. Interest begins to accrue on the loan once the first disbursement is made. If a student is denied the GradPLUS Loan, based on credit, the student is NOT eligible for additional unsubsidized loan funds. Students will have a sixty day grace period after the second disbursement is issued. Students will begin repayment of the loan after the grace period ends. Students have deferment options that will allow a student to delay repayment while they are attending school at least half time.

    Eligibility

    • Must complete the FAFSA
    • Must be enrolled at least half time
      • Graduate students – 5 credit hours
    • Must maintain Satisfactory Academic Progress (SAP)
    • Must pass a credit check
    • Student cannot borrow more than the Cost of Attendance (less all other financial aid)

     

     

     

    Office of Financial Aid

     Enrollment Center @ The Tower, Main 1.100

    Office Hours
    8:00 a.m. - 5:00 p.m.

    Phone: 956-882-8277
    Fax: 956-882-8229
    financialaid@utb.edu

     

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