Office of Student Financial Aid

 

Prospective Students | Current Students | Former Students | Visitors


My Financial Aid

Log in to your Account

Access Neo Account

AggiEpay

 

Helpful Links

2008-2009 Financial Aid Instructions

Scholarships

Lyons Engineering Scholarship

Corps Scholarships

Galveston Maritime Club Scholarship Application

CCA Graduate Scholarship

Employee Scholarship Authorization Form

Web Resources

TAMU Financial Aid

Loans by Web


Current Students

General Information

Applying for Financial Aid

Request your PIN

FAFSA Application

Frequently Asked Questions

2008-2009 Budgets

 

Loans

Federal Stafford Loans

Parent Plus Loans

Perkins Loans

Alternative Loans

Stafford and Plus Lender List

 

 

 

Alternative Loans

Alternative (private) loan borrowing should be used for circumstances where you have exhausted all other options in regards to financing your education. These loans typically have high interest rates and fees associated with them.

We highly recommend that students apply for financial aid using the Free Application for Federal Student Aid (FAFSA) prior to seeking an Alternative loan option. With this application, you may be eligible for the Federal Stafford loan. The Unsubsidized Stafford loan has a fixed interest rate of 6.8% and does not require a credit check. The Subsidized Stafford Loan for Undergraduate students has a fixed interest rate of 6.0% and does not require a credit check. Depending on the interest rate that the lender for the alternative loan has quoted you, the 6.8% or 6.0% may be significantly lower. There are many other benefits to the Stafford loan as well. Additional information about the Stafford loan can be found at financialaid.tamu.edu under the loan applications link.

You are free to choose any lender for the alternative loan. The choice of a lender is entirely yours and must be made before your loan(s) will be funded. However, borrowing an alternative (private) loan is based on credit checks and should only be done after reviewing all of your funding options and contacting different lenders for the best terms.

The interest rates and repayment terms are different for each lender. Please research which lender will best suit your needs and provide you with the lowest rates possible.

Points to consider when choosing a lender:

  • Interest Rate-May be capitalized more often increasing the amount of money you ultimately owe. Consider using a cosigner, you may qualify for slightly lower rates.

  • Fees-The interest rates and fees that you pay are based on your credit score and the credit score of your cosigner if you choose to use a cosigner.

  • Borrower Benefits-These vary by lender.

  • Repayment Terms-Some lenders require you to pay while you are in school while others will defer payments until after graduation.

  • Eligibility Requirements-Check the requirements for the loan.

The Texas Higher Education Coordinating Board Alternative loan (College Access Loan, CAL):

Helpful websites to compare alternative lenders:

 

Emergency Communications - E2 Campus ● Emergency Response Plan

State of Texas  ◦   Statewide Search
Privacy Statement  ◦   Legal Notices  ◦   Accessibility  ◦   Compact with Texans  ◦   Open Records
Texas Homeland Security  ◦   TAMU Homeland Security  ◦   Annual Security Report
 
Texas A&M University at Galveston, P.O. Box 1675 Galveston, Texas 77553
© 2008 All rights reserved. Contact Webmaster.