TAMHSC participates in the Direct Loan Program for all Federal Title IV Stafford (subsidized and unsubsidized), Parent Loan for Undergraduate Students (PLUS) and Graduate PLUS (GradPLUS) loans. The U.S. Department of Education directly administers all federally guaranteed student loans in the Direct Loan Program.
Federal Title IV Direct PLUS Loans are only available to parents of dependent, undergraduate students. A FAFSA must be completed before a PLUS loan application is processed. PLUS loan repayment is the sole responsibility of the borrower, not the student for which the loan is taken.
The amounts of the PLUS loan are limited to the student’s eligibility as calculated by the program’s cost of attendance (COA) less any other financial aid (scholarships, grants, loans) the student is receiving for the year.
COA – Financial Aid = Maximum Amount of PLUS
The Federal Title IV Direct GradPLUS Loan is available to graduate and professional students. Completion of the FAFSA is required. GradPLUS loans should be used after the student has reached the annual (or lifetime) limit of Stafford loans.
The terms, conditions, eligibility and loan amounts of the PLUS Loan (see above) apply to the GradPLUS, with the exception of enrolled hours. Half-time status for graduate students is five (5) credit hours during the fall and spring sessions and three (3) credit hours during the summer sessions.
The Title VII Health Professions Student Loan (HPSL) is a long-term, low interest loan available to students with financial need and enrolled in the Baylor College of Dentistry Doctor of Dental Surgery (DDS) program. Regardless of dependency status, applicants are required to include their parental information on the FAFSA to be considered for the limited funding available each year. TAMHSC administers awarding and repayment processing of HPSL funds from the U.S. Department of Health and Human Services, Health Resources and Services Administration (HRSA).
Students offered and accepting an HPSL will be notified each year of any actions, such as loan counseling, promissory note and self-certification, which are required prior to disbursement of the funds. Student borrowers will also be provided loan and repayment information for each year in which an HPSL is processed.
Private student loans or alternative loans are available to students who are not eligible for federal loans or who need assistance beyond the financial aid available from the FAFSA. These loans are made through banks, state agencies and other financial institutions. The borrower is subject to the terms unique to the loan. It is recommended that a student seek alternative education loans after first applying for Federal and State aid using the FAFSA.
It is the borrower’s responsibility to research and compare loans before choosing to apply. In most cases, applications come directly from the lending institution. Borrowers of alternative loans must also complete a self-certification form furnished by the lender. Please contact the financial aid office if you have questions or need assistance.
In order to correctly enter your loan term dates when applying for an alternative loan, please use the academic year dates that correspond to your program on our 2014-2015 disbursement chart.
Repayment: Borrowers of private and non-federally guaranteed educational loans should contact the respective lenders and/or refer to promissory notes for information regarding repayment and rights and responsibilities.
The Minnie Stevens Piper Foundation is a nonprofit charitable corporation which provides private educational loans to Texas Resident students with a Junior, Senior and Graduate/Professional classification.
Note: Monthly payment plan may be requested. If approved, rates and repayment terms are set by Minnie Stevens Piper Foundation.
Application information is available at the Minnie Stevens Piper Foundation website or by contacting the TAMHSC Office of Student Financial Aid.
The TMA offers an alternative education loan primarily funded by the May Owen Irrevocable Trust to full-time students participating in the College of Medicine Doctor of Medicine program.
Application information is available through the TAMHSC Office of Student Financial Aid.
All tuition assistance, stipends and other financial opportunities for research or other employment are administered by the respective component. The Office of Student Financial Aid does not participate in selection or amounts of funding. Contact your academic advisor or College for more information.