Loans

The Federal Direct Loan Program offers low interest rate loans (subsidized or unsubsidized), directly from the Department of Education, to undergraduate and graduate/professional students. Eligibility is determined using information provided in the Free Application for Federal Student Aid (FAFSA) and not on the basis of credit or debt to income ratio.
Beginning with the 2026-27 award year, a student enrolled less than full time over the course of an academic year will have their annual loan eligibility prorated in direct proportion to their percentage of full-time enrollment.

Borrower

Undergraduate and Graduate Students

Loan Eligibility

• Must file a FAFSA
• Must be enrolled at least half-time in a degree-seeking program
• U.S. citizens or eligible non-citizens
• Not in default on any federal educational loans
• Have not already borrowed more than the aggregate federal direct loan limit
• Meet Satisfactory Academic Progress (SAP)

Types of Federal Direct Loans

Direct Subsidized Loan - This loan is only available to undergraduates. This need-based loan program is “subsidized” because the government pays the interest on your behalf while you are enrolled at least half time and during grace and deferment periods.

Direct Unsubsidized Loan - This loan type is available to both undergraduate and graduate students. This non-need-based loan program is referred to as "unsubsidized" because interest accrues (accumulates) while the student in enrolled in school. Interest on Direct Unsubsidized Loans begins to accrue after disbursement of the loan funds; however, the student may choose to have the payment of the interest deferred during enrollment and later capitalized (added to principal) at the time of repayment.

Borrowing Limits: Undergraduate Students

*If a Federal Direct PLUS Loan for Parents is applied for and denied based on credit, a dependent undergraduate student may borrow at the independent undergraduate level. If a student does not qualify for the maximum amount in subsidized loans, they can make up the difference in additional unsubsidized loan amounts up to the combined annual maximum.

Borrowing Limits: Graduate and Professional Students

Federal law changed graduate borrowing effective July 1, 2026. New graduate and professional borrowers no longer have access to the Direct Unsubsidized Loan's old aggregate limit or to the Graduate PLUS Loan; instead, Direct Unsubsidized borrowing is capped as follows. These limits do not include any loans borrowed as an undergraduate.

Overall Lifetime Limit: All federal Direct Loans borrowed across undergraduate, graduate, and professional study combined, not including Parent PLUS Loans, are subject to an overall lifetime maximum of $257,500.

Legacy Provision: If you are enrolled in your current program and received a disbursement of a federal Direct Loan, including a Direct Unsubsidized Loan or a Graduate PLUS Loan, for that program before July 1, 2026, you may continue to borrow at the prior, higher levels (including continued access to Graduate PLUS) for whichever is shorter: three additional academic years, or the remainder of your program. You must remain continuously enrolled in that program to keep this legacy status; a withdrawal or leave of absence for any reason ends it, moving you to the new limits above.

First Time Borrowers

Students will be required to:

• Complete entrance counseling, a tool to ensure you understand your obligation to repay the loan.
• Sign a loan contract called a Master Promissory Note, agreeing to the terms of the loan.

Interest Rates & Loan Fees

Interest rates are updated annually. Click here for the current interest rates, how it is calulated and how it accrues.

Loan fees are updated annually. The fee is deducted from the loan before you receive the funds (so you will receive less than you borrowed) and you are responsible for repaying the full amount borrowed, including the fees that are deducted. Click here for the current loan fee rates.

The Federal Direct Graduate PLUS Loan program is being eliminated for new graduate and professional student borrowers starting Fall 2026. Previously, this loan allowed graduate and professional students to borrow up to their full cost of attendance, minus any other financial assistance, based on the FAFSA and a credit check. Going forward, new graduate and professional borrowers should plan around the Direct Unsubsidized Loan limits described above rather than the Graduate PLUS Loan. Legacy Provision: If you already received a disbursement of a Graduate PLUS Loan (or another federal Direct Loan) for your current program of study before July 1, 2026, you may continue to borrow through Graduate PLUS for whichever is shorter: three additional academic years, or the remainder of your program, as long as you remain continuously enrolled.

Borrower

Graduate or Professional Student (legacy borrowers only, see above)

Loan Eligibility

• Must file a FAFSA
• Must be enrolled at least half-time in a degree-seeking program
• U.S. citizens or eligible non-citizens
• Not in default on any federal educational loans
• Have not already borrowed more than the aggregate federal direct loan limit
• Meet Satisfactory Academic Progress (SAP)
• Must qualify under the Legacy Provision above; new borrowers as of Fall 2026 are not eligible

Borrowing Limits

Up to the student's cost of attendance (less any other financial assistance the student may be receiving).

First-Time Borrowers

Students will be required to:

• Complete entrance counseling, a tool to ensure you understand your obligation to repay the loan.
• Sign a loan contract called a Master Promissory Note, agreeing to the terms of the loan.

Interest Rates & Loan Fees

Interest rates are updated annually. Click here for the current interest rates, how it is calulated and how it accrues.

Loan fees are updated annually. The fee is deducted from the loan before you receive the funds (so you will receive less than you borrowed) and you are responsible for repaying the full amount borrowed, including the fees that are deducted. Click here for the current loan fee rates.

The Federal Direct PLUS Loan for Parents provides a borrowing option for parents of dependent undergraduate students. Based on a parent's credit history, a parent may borrow on behalf of their student, subject to the new annual and lifetime limits below.

Borrower

Parent

Loan Eligibility

• Must file a FAFSA
• After the FAFSA has been completed and aid determined, the biological/adoptive parent can apply for the Parent PLUS Loan.
• Student of parent must be enrolled at least half-time in a degree-seeking program
• U.S. citizens or eligible non-citizens
• Not in default on any federal educational loans
• Meet Satisfactory Academic Progress (SAP)

Borrowing Limits

*Annual limit: $20,000 per student *Lifetime limit: $65,000 per student (regardless of amounts later forgiven, repaid, canceled, or discharged)
These limits apply per student, not per parent; if more than one parent borrows for the same student, the combined total across both parents is subject to this same cap.
Legacy Provision: If the student or parent borrower already had a federal Direct Loan (including a Parent PLUS Loan) disbursed for the student's current program before July 1, 2026, the parent may continue to borrow up to the student's cost of attendance (minus other aid), with no dollar cap, for whichever is shorter: three additional academic years, or the remainder of the student's expected time to complete that program.

First-Time Borrowers

Parent borrowers will be required to:

• Complete credit counseling, if required.
• Sign a loan contract called a Master Promissory Note, agreeing to the terms of the loan.

Interest Rates & Loan Fees

Interest rates are updated annually. Click here for the current interest rates, how it is calulated and how it accrues.

Loan fees are updated annually. The fee is deducted from the loan before you receive the funds (so you will receive less than you borrowed) and you are responsible for repaying the full amount borrowed, including the fees that are deducted. Click here for the current loan fee rates.

The College Access Loan Program provides alternative educational loans to Texas residents who are unable to meet the cost of attendance by other types of financial assistance or personal resources. Students do not have to demonstrate financial need.

Borrower

Student

Loan Eligibility

• Must file a FAFSA
• Must submit a CAL application including a signed:
  • Socilitation Disclosure
  • Self-Certification
  • Loan Approval Disclosure Statement.
• Enrolled at least half-time in a degree-seeking program
• Texas resident
• Not in default on any federal educational loans
• Meet Satisfactory Academic Progress (SAP)
• a favorable credit evaluation or provide a cosigner who must:
  • Be at least 21 years of age
  • Have a regular source of income
  • Not be the borrower or the spouse of the borrower
  • Receive a favorable credit evaluation (The credit decision is good for 90 days)
  • Be a permanent U.S. resident or a U.S. citizen and reside in the U.S. or in a U.S. territory

Borrowing Limits

Students may borrow up to the amount of their full cost of attendance minus all other financial aid they are eligible for, including amounts not yet accepted.(No less than $100.00)

The CAL is awarded based on the requirements set by the Texas Higher Education Coordinating Board (THECB) and the availability of funds.

Loan Processing

Once the THECB has received and approved all application documents and credit is approved, Texas Tech will be notified to certify loan eligibility. Texas Tech will certify the loan up to the cost of education minus any other aid the student has been awarded, or for the approved loan amount.

Once Texas Tech certifies CAL eligibility, the THECB will calculate the student's manageable debt to determine the final loan amount.

Then THECB will send the student a Loan Approval Disclosure by mail. The student may electronically accept the terms of the disclosure.

Loan funds will not be released to Texas Tech by the THECB until the Loan Approval Disclosure has been accepted by the THECB. Loan funds are generally sent to Texas Tech in 10-14 business days after the Loan Approval Disclosure has been accepted.

Loan funds will be applied to the student's Texas Tech billing account and any refund will be sent to the student via direct deposit or paper check. The student can sign up for direct deposit under the MyTech on Raiderlink.

Log in to www.hhloans.com to check the status of your CAL.

Additional Information

Click below for additional loan information including interest rates, fees, and repayment.

The FORWARD Loan Program is a low-interest loan designed for students enrolled in programs aligned with high-value credentials and high-demand occupations. The program provides alternative educational loans to Texas residents who are unable to meet the cost of attendance by other types of financial assistance or personal resources.

Borrower

Student

Loan Eligibility

• Must file a FAFSA
• Must submit a FORWARD Loan application including a signed:
  • Socilitation Disclosure
  • Self-Certification
  • Loan Approval Disclosure Statement.
• Texas resident
• Be registered with Selective Service or exempt
• Be enrolled in a high-demand credential program and meet at least one of the following requirements:
  • Enrolled in a degree program and have completed at least 50% of the required coursework prior to receiving a loan
  • Enrolled in a non-degree program with a duration of less than two years
  • Enrolled in master's degree coursework that is part of a combined baccalaureate-master's program
• Meet Satisfactory Academic Progress (SAP)
• a favorable credit evaluation or provide a cosigner who must:
  • Be at least 21 years of age
  • Have a regular source of income
  • Not be the borrower or the spouse of the borrower
  • Receive a favorable credit evaluation (The credit decision is good for 90 days)
  • Be a permanent U.S. resident or a U.S. citizen and reside in the U.S. or in a U.S. territory

Borrowing Limits

Students may borrow up to the amount of their full cost of attendance minus all other financial aid they are eligible for, including amounts not yet accepted.(No less than $100.00)

The FORWARD is awarded based on the requirements set by The Higher Education Coordinating Board (THECB) (www.hhloans.com) and the availability of funds. The FORWARD is awarded only to Texas residents.

The THECB will calculate the final loan amount based on a student's “manageable debt” for the borrower's program of study. Depending on the calculation, the loan could be reduced or canceled by the THECB after the loan has been certified by an institution.

Loan Processing

Once the THECB has received and approved all application documents and credit is approved, Texas Tech will be notified to certify loan eligibility. Texas Tech will certify the loan up to the cost of education minus any other aid the student has been awarded, or for the approved loan amount.

Once Texas Tech certifies FORWARD eligibility, the THECB will calculate the student's manageable debt to determine the final loan amount.

Then THECB will send the student a Loan Approval Disclosure by mail. The student may electronically accept the terms of the disclosure.

Loan funds will not be released to Texas Tech by the THECB until the Loan Approval Disclosure has been accepted by the THECB. Loan funds are generally sent to Texas Tech in 10-14 business days after the Loan Approval Disclosure has been accepted.

Loan funds will be applied to the student's Texas Tech billing account and any refund will be sent to the student via direct deposit or paper check. The student can sign up for direct deposit under the MyTech on Raiderlink.

Log in to www.hhloans.com to check the status of your FORWARD Loan.

Additional Information

Click below for additional loan information including interest rates, fees, terms, and repayment.

Private education loans are offered by various lenders and banks, with interest rates and loan types that vary by provider. Unlike federal student aid, eligibility for these loans is based in part on the borrower’s credit history and, in some cases, may also require a co-signer.

Borrower Limits

Students may borrow up to the full cost of attendance for your program minus all other financial assistance.

Selecting a Lender

Texas Tech does not promote or endorse any private education loan lenders. Elm Select is a lender-neutral tool which allows you to compare a historically cumulative list of lenders and education loan products that our students have used.

Consider Before Borrowing

Interest rate: It may be capitalized 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 co-signer (if you choose to use one).

Borrower benefits: These vary by lender.

Repayment terms: Some lenders require you to pay while you are in school; others will defer payments until after graduation.

Eligibility requirements: These vary by lender.

Loan Processing

Plan for up to four weeks for private education loan processing.

You may apply for a loan to cover the entire academic year (fall and spring), unless you do not plan to attend consecutive semesters, in which case, you will need to apply for each semester individually. Summer semester loans require a separate application from the fall/spring.

Once Texas Tech University has processed your private education loan, only reductions or cancellations can be made by emailing finaid.advisor@ttu.edu. Increases require a new loan application be submitted to the lender.

Additional Information

Click below for additional information regarding private education loans.