A variety of low interest loans are available to families who do not wish to rely solely on their current income and assets to finance their student’s college education.

If you’ve submitted the FAFSA, some family loans may automatically be offered to you as part of your financial aid award letter. If you have not submitted the FAFSA, or if you would like to learn about additional borrowing options, contact the Office of Financial Aid at (800) TRINITY or financialaid@trinity.edu.


NON NEED-BASED FEDERAL LOAN PROGRAMS - all borrowers must be U.S. citizens or eligible non-citizens

FEDERAL UNSUBSIDIZED STAFFORD
Trinity University participates in the Federal Family Education Loan (FFEL) program to provide Stafford loans for students. Completion of the Free Application for Federal Student Aid (FAFSA) is required to borrow through the Stafford loan program.

The Federal Unsubsidized Stafford loan is available to students who do not demonstrate need for all or a portion of the subsidized Stafford loan. The term “unsubsidized” simply means that interest on the loan is not paid by the federal government while the student is in school. Interest on an unsubsidized loan accrues and must be either paid or “capitalized” (added to the original loan amount) from the time the loan is taken out.

Students may borrow unsubsidized loan funds for an amount up to the annual loan borrowing limit for their academic level (completed hours). The interest rate for an unsubsidized Stafford Loan is currently fixed at 6.8%. A 1% (0.5% for 2009-2010) origination fee and a 1% default fee may be deducted from the loan proceeds. Typically, first year borrowers are allowed an annual loan amount of $3,500. Recent legislation allows interested students to borrow an additional $2,000 for a toal of $5,500 annually. Additionally, if you are an independent undergraduate student or a dependent student whose parent has applied, but was unable to qualify for a Federal PLUS Loan (a parent loan), you may be eligible to borrow an additional $4,000 in unsubsidized Stafford loan funds as a first year student.


• For detailed instructions on how to apply for a Federal Unsubsidized Stafford loan, click here.
  

FAFSA application is required, but the student does not have to demonstrate financial need.

Description/Requirements:

• Fixed interest rate: 6.8%
• Online application process
• Freshman (0-29 completed hours) annual limit $5,500
• Sophomore (30-59 completed hours) annual limit $6,500
• Junior (60-89 completed hours) annual limit $7,500
• Senior (90+ completed hours) annual limit $7,500
• Additional $4,000 due to Parent PLUS loan denial (Freshman and Sophomore)
• Additional $5,000 due to Parent PLUS loan denial (Junior and Senior)
Repayment/GPA Information:

• Repayment begins 6 months after graduation or less than half-time enrollment
• 10-year repayment period
• Government does not pay interest while borrower is enrolled
• Continued eligibility requires satisfactory academic progress

FEDERAL PARENT PLUS (Parent Loan for Undergraduate Students)
Federal Parent (PLUS) loans are available to parents or stepparents. Although eligibility is not based on financial need or family income, a credit check is required. Creditworthy PLUS loan applicants may borrow any amount up to the total cost of attendance (COA) minus any other financial assistance being received by the student.


• For detailed instructions on how to apply for a Federal Parent PLUS loan, click here.
  


The FAFSA application is not required.

Description/Requirements:

• Fixed interest rate: 8.5%
• Online application process
• Credit-worthy loan
• Must not be in default on a federal loan
• Borrowing limit = up to Cost of Attendance - aid awarded
Repayment/GPA Information:

• Repayment begins 60 days after the loan is fully disbursed
• Parents must be student's legal guardian
• Continued eligibility requires satisfactory academic progress

LOANS BY WEB
Trinity University, along with Texas Guaranteed Student Loan Corporation (TGSLC), uses a web application for the Stafford and PLUS loans. This site, called TG Loans By Web (LBW), will guide you step-by-step through completing and submitting your online loan application.

Complete your LBW Online Application at https://lbw.tgslc.org/LBW/start.do

For detailed instructions on how to apply for a Stafford or PLUS loan, click here or download our 2008-2009 Loans by Web (LBW) Loan Instruction Sheet.

NON NEED-BASED STATE LOAN

COLLEGE ACCESS LOAN (CAL)
The College Access Loan Program provides alternative education loans to Texas students who are unable to meet the cost of attendance. This loan is in the student's name, but may require a creditworthy cosigner. The amount borrowed for an academic year cannot exceed the cost of attendance (COA) minus any financial aid assistance being received by the student.

This loan program is part of the Hinson-Hazlewood College Student Loan Program administered by the Texas Higher Education Coordinating Board (THECB). Funding is limited and students are encouraged to complete the application process in a timely manner.

The CAL has a fixed interest rate of 6%. A 3% origination fee will be deducted from the proceeds of the loan if both the borrower and cosigner have a good credit history. A 5% origination fee will be deducted from the proceeds of each loan if either the borrower or cosigner, but not both, has a good credit history. There are no guarantee fees or insurance premiums with the CAL. The interest is never capitalized and the loan will not be sold to another lender.

CAL repayment begins six months after the student ceases full-time enrollment and the repayment period is ten years for students with balances under $30,000 or twenty years for balances of $30,000 or more, with minimum monthly payments of $50.00. Payments can be deferred if the student decides to attend graduate or professional school.

Complete your CAL online application at www.hhloans.com.


• For detailed instructions on how to apply for a CAL loan, click here.
  

NON-NEED-BASED INSTITUTIONAL LOAN

WALTON FAMILY LOAN
The Walton Family Loan is a student loan available to help meet educational costs. This loan is administered by Trinity University and funding is limited. The Free Application for Federal Student Aid (FAFSA) is NOT required to borrow through the Walton Family Loan. Families must provide proof of an adjusted gross income of $50,000 or more to apply without a credit check. If awarded, students and their parents may borrow up to $10,000 per year, not to exceed the cost of education minus other financial aid assistance, and up to a maximum of $50,000 for an entire Trinity education. An annual credit approval may be required for continued Walton loan eligibility.

The interest rate for the Walton Family Loan is fixed at 5% and payments on the principal are deferred while the student is enrolled at Trinity. Interest payments, however, must be made monthly. Repayment of the loan principal begins seven months after the student leaves Trinity and payments are made over a ten year period.

Please contact the Student Accounts and Loans Office at (210) 999-7330 or loans@trinity.edu for answers to any questions regarding the Walton loan.


• For detailed instructions on how to apply for a Walton Family loan, click here.
  

NON-NEED-BASED PRIVATE LOANS

PRIVATE STUDENT LOANS
Trinity University is committed to working with families seeking ways to finance a Trinity education. While we encourage students to take advantage of all available federal, state, and institutional loan resources and to pursue possible gift funding from local organizations, family employers, foundations, and corporations, we recognize that borrowing private loan funds may sometimes be the only available option. Should a student need to secure financial resources through additional loans to help meet educational expenses, please contact the Office of Financial Aid to discuss the options for private, non need-based loans.

Trinity University will not select or recommend a lender for private loan financing options. It is the student’s responsibility to research this information and select the option that best suits his or her needs.

NOTE: If the lenders are the same for both the Stafford and private loans, combined billing may be possible.