2017-2018 Undergraduate Catalog


Student Loan Programs

Loans must be repaid and require the signing of a promissory note. Several types of loans are available.

William D. Ford Federal Direct Loan Program, often called the Direct Stafford Loan

The U.S. Department of Education is the lender. Three types of Direct Loans are available for undergraduates who file the FAFSA:

Direct/Stafford Subsidized Loan

Loans are made to eligible undergraduate students who demonstrate financial need through the FAFSA. Interest rate for 2016-2017 is 3.76 percent. The federal government pays the interest during the period of at least half-time enrollment. Repayment begins six months after the student is no longer enrolled at least half time. Several repayment options are available.

Undergraduate students may borrow up to $3,500 as a freshman, $4,500 as a sophomore and $5,500 per year for subsequent years of study to a maximum of $23,000. First-time borrowers as of July 1, 2013, are also limited to 150 percent of their current enrollment degree program length, i.e., a four-year bachelor program has six years maximum eligibility for Subsidized Direct Loans. The federal government will deduct an origination fee of 1.069 percent from the loan proceeds at the time of disbursement.

Direct/Stafford Unsubsidized Loan

Loans are made to eligible undergraduates, but in this case the student does not have to demonstrate financial need. Interest rate for 2016-2017 is 3.76 percent. Interest on the Direct Unsubsidized Loan may be paid monthly, quarterly or added to the principal. Repayment begins six months after the student is no longer enrolled at least half time. Several repayment options are available.

Dependent undergraduate students may combine the Direct Subsidized Loan with the Direct Unsubsidized Loan and borrow up to $5,500 as a freshman, $6,500 as a sophomore and $7,500 per year for subsequent years of study to a maximum of $31,000. The federal government will deduct an origination fee of 1.069 percent from the loan proceeds at the time of disbursement.

Independent undergraduate students may combine the Direct Subsidized Loan with the Direct Unsubsidized Loan and borrow up to $9,500 as a freshman, $10,500 as a sophomore and $12,500 per year for subsequent years of study to a maximum of $57,500. The federal government will deduct an origination fee of 1.069 percent from the loan proceeds at the time of disbursement.

Direct PLUS Loan

A parent of an undergraduate student may borrow an amount up to the estimated cost of attendance as defined by federal law minus other forms of financial aid. The parent must be credit approved. The program has a 6.31 percent fixed interest rate and a 4.276 percent origination fee, which will be deducted from the disbursement. Several repayment plans are available.

Nursing Student Loan

TCU is the lender for eligible nursing students who demonstrate financial need through the FAFSA. Funding is limited. Loan limits are $3,300 per year for freshmen and sophomores, $5,200 per year for juniors and seniors. Aggregate limit is $17,000. This loan has a fixed interest rate of 5 percent. Repayment begins and interest begins to accrue nine months after the student is no longer enrolled at least half time. Payment is a minimum of $15 per month over a period of up to 10 years.

College Access Loan (CAL)

The lender is the Texas Higher Education Coordinating Board. This loan is for Texas residents who are enrolled at least half time. Financial need is not required, but applicants must submit the FAFSA. A credit-worthy co-signer may be required. Experian Vantage Score of 650 required for approval. Loan amounts are limited each year based on the state’s allocated amount to TCU. This program has a 6.60 percent fixed simple-interest rate. Interest begins accruing on the date of disbursement. Repayment begins six months after the student is no longer enrolled at least half time.

Etta Newby Loan

TCU is the lender. This program requires Texas residency with preference given to Fort Worth high school graduates. A FAFSA must be filed, and applicants must have at least a 2.5 overall GPA. Loan amounts vary, with an $8,000 aggregate limit. There is no interest charged; however, recipients are expected (not required) to contribute to the fund after the debt is repaid. Repayment begins one month after the student graduates or ceases to be at least a half-time student. Funds are limited.