Federal student loans are loans issued to students in Texas and other states by the government that come with low interest levels and don't need to be paid back until you have received your diploma. Once you submit an online FAFSA, the Department of Education generates a report that details the loans you qualify for in Texas. You must demonstrate at least some financial need in order to be eligible for federal aid. The government examines the assets and income of you and your parents to determine your financial need.
Before you apply for a private student loan, make sure you have taken advantage of all your free-money options and federal financial aid first. Because Texas private student loans are costlier than federal student loans, you should take advantage of federal student loans before applying for non federal student loans. Since there there are many different options for financial aid, a private student loan should usually be your last resort. Contact our associates for more information about student loans in Texas.
In order to be considered for student financial aid in Texas, you'll need to submit a FAFSA (Free Application for Federal Student Aid). Once you submit the FAFSA, you'll be considered for grants, work study programs, and federal student loans. The Department of Education sets the eligibility guidelines for Texas student loans. They'll consider a number of factors such as net assets, income number of family members, and living expenses when identifying your financial need. Call our friendly representatives to find out more.
Since private student loans in Texas are more expensive than other types of student loans, you should think about other options for student financial aid. More affordable education loan options include Stafford loans, Perkins loans, Grad PLUS loans and Parent PLUS loans. As a potential college student, it is wise to explore financial aid resources in Texas that are affordable and will save you money. Call our representatives for more information about student loans in Texas.
In Texas and other areas of the country, a Stafford loan is a government subisidized loan for graduate and undergraduate students. The main beneft of getting a Stafford loan is low fixed interest rates. Student loan rates for graduate students are usually as low as 6.8 percent. Student loan rates for undergraduate level students range between 3.4 and 5.6 percent. Unlike non federal student loans in Texas, a Stafford loan does not require collateral, credit checks or application fees. Call our representatives today to find out more.