Carry Forward Loans
As of July 1, 2008 there are new limitations on how universities can use federal financial aid to “Carry Forward” balances from prior terms. Texas Tech University will no longer be able to “Carry Forward” balances larger than $200.00 from prior financial aid reward years; however, all outstanding balances, regardless of the amount, from the current reward year are still eligible for a “Carry Forward” up to the amount of the refund after the current term’s fees have been paid. Also, students who have alternative loans are eligible to “Carry Forward” any balance up to the refund amount after the current term’s fees are paid.
Should the student have an outstanding balance that cannot be “Carried Forward,” the Texas Tech University Short Term Institutional Loan department may be able to help the student by issuing a short-term loan to pay the outstanding balance. There are multiple short-term loans available for the student to use should the student meet the criteria, and should there be funds available within the specific loan.
Students may request a carry forward loan online at http://sbsloans.texastech.edu.