Texas Wesleyan participates in a variety of federal, state, student and parent loan programs.   Brief details of each are listed below. 

Please click on the name of the loan program for additional details or contact our office for more information.

FEDERAL STAFFORD LOANS

To Be Eligible:

• Complete a FAFSA
• Be enrolled at least half time

Annual Award Limit:

                                                        Dependent students        Independent Students

• Freshman                                $5,500                             $   9,500
• Sophomore                             $6,500                             $ 10,500
• Junior                                        $7,500                             $12,500
• Senior                                       $7,500                             $12,500

Terms of the loan:

• Fixed interest rate, currently 6% for Subsidized loans and 6.8% for Unsubsidized loans
• Interest paid, on Subsidized loans, by federal government while in school
• Payments deferred while student is enrolled at least half time
• 6 month grace period after student leaves school
• Standard repayment term is 10 years
• Funds come from a bank, credit union, or other lender of student's choice

To apply:

• Complete a FAFSA online at www.fafsa.ed.gov
• Once you've been awarded, accept your loans online on

COLLEGE ACCESS LOAN (CAL)

To Be Eligible:

• Complete a FAFSA
• Be enrolled at least half time
• 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 6% and variable is currently 3.91%
• Based on credit, students may need a cosigner
• 3% origination fee with a cosigner
• 5% origination fee without a cosignerI
• No interest until repayment begins
• Payments deferred while student is enrolled at least half time
• 6 month grace perioid after student leaves school
• standard repayment term is 10 years

To Apply:

• Complete a FAFSA at www.fafsa.ed.gov
• Complete the loan application at Texas Higher Education Coordinating Board

PARENT LOAN for UNDERGRADUATE STUDENTS (PLUS)

To Be Eligible:

• Student must be enrolled at least half time

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