Loans & Federal Student Loans
Loans
Loans are money that is borrowed and you must pay back. Loans enable students and
parents to borrow money from the federal government, state government, or private
lenders. It is important for students and parents to be well informed of the terms
and conditions of loans prior to borrowing. Loans offered by the federal government,
usually call federal student loans, offer borrowers lower interest rates and have
more flexible repayment options than conventional loans. Students may choose to decline
or lower the amount of loan offered in your financial aid award package.
Federal Loan Changes
The legislation established new federal borrowing limits for certain students and
parents:
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Undergraduate Direct Subsidized and Unsubsidized Loan limits remain unchanged, but the new enrollment-based proration requirement applies to students enrolled less than full-time.
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Graduate students who are subject to the new limits may borrow up to $20,500 annually in Direct Unsubsidized Loans, with a $100,000 graduate aggregate limit.
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Eligible professional students may borrow up to $50,000 annually in Direct Unsubsidized Loans, with a $200,000 graduate and professional aggregate limit.
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Graduate PLUS Loans have been eliminated for new graduate and professional borrowers beginning July 1, 2026.
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Parent PLUS Loans are limited to $20,000 annually and $65,000 in total per dependent student for borrowers subject to the new limits.
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Certain continuing students and parent borrowers may qualify for a temporary exception based on their enrollment and prior borrowing history. However, the new less-than-full-time proration requirement still applies to student borrowers who qualify for this exception
Alternative Loans
Alternative (private) loans are managed and processed by private lending institutions to be used for educational or housing costs after exhausting all federal and state financial aid options, or in conjunction with the financial aid award.
ELMselect is an online, lender-neutral, platform to display a historical list of lenders that students have used over the past five years. Visit to search for an Alternate Loan.
College Access Loan or the CAL loan program provides alternative educational loans to Texas students who are unable to meet the cost of attendance. to find out more information about the requirements and qualifications of this program.
What steps should I take to apply for a loan?
Direct Loan Origination Fee Calculator
Use this calculator to determine the amount of money that you will either receive
from your loan or the amount you need to request after the origination fee. All amounts
below are represented in U.S. dollars.