Texas Wesleyan participates in a variety of federal and state student (and parent) loan programs. Brief details of each are listed below. Please click on the name of the loan program for more details or contact our office for additional information.
To be eligible
- completed FAFSA
- at least half time enrollment
Annual Award Limit
Dependent students Independent Students
- Freshman $3,500 $ 7,500
- Sophomore $4,500 $ 8,500
- Junior $5,500 $10,500
- Senior $5,500 $10,500
Terms of the loan
- fixed interest rate, currently 6.8%
- interest may be paid by federal government while in school
- payments deferred until student ceases enrollment of at least half time
- 6 month grace period after graduation
- standard repayment term is 10 years
- funds come from a bank, credit union, or other lender of student's choice
To apply
To be eligible
- completed FAFSA
- at least half time enrollment
- Texas resident
Annual Award Limit
- cost of attendance minus other aid
Terms of the loan
- student chooses fixed or variable interest rate, fixed is currently 5% and variable is currently 6.84%
- based on credit
- 3% origination fee with a cosignor
- 5% origination fee without a cosignor
- interest is not capitalized until repayment begins
- payments deferred until student ceases enrollment of at least half time
- 6 month grace perioid after graduation
- standard repayment term is 10 years
To apply
PLUS (Parent Loan for Undergraduate Students)
To be eligible
- at least half time enrollment
Annual Award Limit
- cost of attendance minus other aid
Terms of the loan
- fixed interest rate, currently 8.5%
- based on credit worthiness of parent borrower
- up to 4% origination fee, depending on credit score
- first payment usually 60 days after last disbursement
- no grace period
To apply
Loans By Web instructions for Texas Wesleyan students
Loans By Web instructions for parents of Texas Wesleyan students
