Student Loans

The Doctoral Incentive Loan Repayment Program (PDF, 423KB) provides student loan repayment assistance as an incentive to attract members of underrepresented groups to full-time positions as faculty members or administrators at public or private higher education institutions in Texas.

 

Loan Type Eligibility Annual Award Notes
Federal Perkins Loan Awards are available to full-time graduate students with established financial need. Awards are made on a funds-available basis. $8,000 annual maximum for graduates. Long-term loan: repayment and accrual of interest begins 9 months after student ceases to be enrolled at least 1/2 time. 5% interest rate; 10 year repayment.
Federal Stafford Loan (unsubsidized) Awards are available to graduate and undergraduate students enrolled at least 1/2 time regardless of financial need. Maximum eligible amounts include awards for the same period through the Subsidized Stafford Loan program. Varies depending on need and enrollment status: $20,500 maximum up to the cost of attendance. Long-term loan: repayment begins 6 months after student ceases to be enrolled at least 1/2 time. .8% interest rate — interest accrues upon receipt of loan funds; 1% origination fee.
College Access Loan (CAL) Awards are available to graduate and undergraduate Texas residents enrolled at least 1/2 time regardless of need. Awards are made on a funds-available basis. Up to cost of attendance minus other aid received by the student. Long-term loan; repayment begins 6 months after student ceases to be enrolled at least 1/2 time; 6% simple interest rate; loan requires credit-worthy cosigner; 3% or 5% origination fee based on credit score.