1. Student Loans

2. What Are Student Loans? A student loan is money borrowed to pay for the cost of education and must be paid back with interest. Student loans may be issued from: Federal government State government Various financial institutions

3. Types of Student Loans Direct Subsidized Loans Federally funded Undergraduate students with demonstrated financial need Direct Unsubsidized Loans Federally funded Eligible undergraduate, graduate, and professional students No financial need requirement For more information on Direct Loan options, visit www.studentaid.govwww.studentaid.gov Alternative loans Provided by private lenders Eligibility often dependent on credit score

4. Eligibility & Limits Direct Loans (Subsidized & Unsubsidized) Determined on an individual basis Annual and aggregate loan limits apply More information at www.studentaid.govwww.studentaid.gov Alternative Loans Varies depending on loan provider Contact potential lender for more information

5. How to Apply Direct Loans (Subsidized & Unsubsidized) Submit a completed FAFSA www.fafsa.ed.gov Complete Master Promissory Note (MPN) and Loan Entrance Counseling www.studentloans.gov Alternative Loans Varies by lender

6. Considerations 1.What sources of “gift aid” or free money are available to pay tuition and fees? 2.Borrow only what is needed. 3.Fully understand loan terms and conditions. 4.Understand repayment options and estimated monthly payments. Repayment Calculator http://studentaid.ed.gov/repay- loans/understand/plans/standard/comparison-calculator

7. Resources TAMUCT Office of Student Financial Assistance www.ct.tamus.edu/departments/financialaid Federal Student Aid – U.S. Department of Education www.studentaid.gov College For All Texans – Texas Higher Education Coordinating Board www.collegefortexans.com

8. Contact Information Student Financial Assistance 1001 Leadership Place Killeen, TX 76549 Phone: 254.501.5854 Fax: 254.519.5733 Email: finaid@ct.tamus.edufinaid@ct.tamus.edu Office Hours: Monday through Friday 8:00 a.m. – 5:00 p.m.