Financial Assistance

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Loan Assistance

Please select one of the topics below or scroll down to find the information you need.

Loan Resource Center Low Interest/No Interest Private Loans B-on-Time Loans
Loan Assistance Federal Parent Loan for Undergraduate Students (PLUS) Alternative Loans
Borrowing Responsibly Federal Gradate PLUS Loan Stafford Entrance Counseling
Federal Subsidized Stafford Loan

State Alternative Loan

Stafford Exit Counseling
Federal Unsubsidized Stafford Loan Federal Perkins Loan Repaying Your Student Loans
Stafford Loan Limits Ralston and Nursing Loans Special Programs for Loan Repayment
UIW Payment Plans Manage Your Money  

Loan Resource Center

Do you already have college loans and want more information on how to manage them effectively? The National Consumer Law Center’s Student Loan Borrower Assistance Project is a free resource for borrowers, their families, and advocates representing student loan borrowers.

If you already have student loans and want to know more about your options and rights, visit the Student Loan Borrower Assistance Site.

If you would like information on managing your money, debt management and loan repayment, consider signing up for SALT with UIW's partner American Student Assistance! This is a FREE service available to enrolled UIW students and UIW alumni. For more information on SALT, visit http://www.saltmoney.org.

SALT Logo

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Loan Assistance

Loans are an option for you and/or your parents when other financial resources are not enough to cover your entire cost of education.  It's important to know about the different types of loans that are available to make an informed decision about what will be best to help you and/or your family cover the cost of attending the University of the Incarnate Word.

Please research your loan options carefully before making a choice of a loan program to pursue, and remember - we are here to help you in any way we can. Most importantly, be sure you exhaust all other options for aid before pursuing student loans, especially from private lenders.  If you would like us to look over a loan application before it is submitted, or before you sign the promissory note, to make sure you understand what you are signing, please contact us or stop by our office.

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Borrowing Responsibly

  • Educational loans exist to help you pay for your cost of attendance at UIW.
  • Think carefully about the amount you really need to borrow before you decide how much to take out on a loan.
  • Student loans are borrowed money that must be repaid, with interest, just like car loans and mortgages.
  • Read the fine print on your application and promissory note carefully. You need to know:
    • the full amount of the loan you are taking out
    • the current interest rate on the loan, how the interest rate is calculated, and how often it will change
    • the date you must start repayment
    • whether there are any charges you must pay (loan origination fees/guarantee fees) and how those fees will be collected
    • the maximum amount you can borrow each year
    • the maximum time for repayment and the estimated repayment amounts
    • the circumstances that will result in default and the consequences should you default, and
    • your available options for deferment, forbearance and loan consolidation.
  • Keep track of your lenders. It is your responsibility as the borrower to stay in touch and notify your lender if you graduate, withdraw from school, drop below half-time enrollment, change your name, or transfer to another school.

The UIW Office of Financial Assistance recommends that you utilize loan options in the following order, depending upon eligibility for the loan and funding availability (click on the links below to see full program descriptions):

  1. Federal Direct Subsidized Stafford Loans (limits)
  2. Federal Direct Unsubsidized Stafford Loans (limits)
  3. Low Interest/Zero Interest Loans (from private foundations/trusts)
  4. Federal Direct Parent PLUS (online at http://www.uiw.edu/finaid/forms.html) or Direct Graduate PLUS Loans or State Alternative Loan (College Access Loan)
  5. Federal Perkins Loans
  6. Texas B-on-Time Loan (not available for new students... funding is for those who had the loan in a previous academic year and are eligible for renewal only)
  7. Alternative Loans

After you've reviewed the various loan options, we suggest you take a look at Financing Your Future - an online workshop for new borrowers.  Students taking out Federal Direct Stafford loans for the first time with UIW will need to complete the Federal Direct Loan Entrance Counseling requirements; and will need to complete a Federal Direct Loan Master Promissory Note.  Graduating students will need to complete the Federal Direct Loan Exit Counseling requirements New graduates should also review the various Loan Repayment Programs that are available to assist in paying off student loans.

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Federal Direct Subsidized Stafford Loan

Federal Direct Subsidized Stafford Loans are made available to students through the Department of Education.

  • Fixed interest rate of 6.8 for loans disbursed before 7/1/2013 and 3.86 % for loans disbursed on or after 7/1/2013.*
  • Only available to undergraduate students (effective July 7, 2012)(1)
  • U.S. Federal Government subsidizes this loan (pays the interest on the loan) while you are in school, and during any eligible deferment period, and reinsures the loan.
  • You must apply annually (complete a FAFSA and a UIW Student Information Form) and demonstrate financial need.
  • UIW determines whether you are eligible and originates the loan application.
  • You complete Entrance Counseling electronically (online at http://www.uiw.edu/finaid/ent/index.htm).
  • You sign the promissory note for the loan (also called Master Promissory Note or MPN) online at http://studentloans.gov.
  • Available to Undergraduate Main Campus, ADCaP and UIW Online students enrolled at least half-time (half-time is defined as 6 hours Undergraduate).
  • Repayment of principal and interest begins 6 months after you graduate or you are no longer enrolled at least half-time.
  • You have up to 10 years to repay this loan.
  • This loan may be consolidated with other Federal education loans.

*Rates will continue to change yearly for new loans made on or after July 1 of each year based on Federal legislation.

(1) The Budget Control Act of 2011 eliminates the eligibility for Subsidized Direct Loans for Graduate/Professional Students (Public Law 112-25).

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Federal Direct Unsubsidized Stafford Loan:

Federal Direct Unsubsidized Stafford Loans are made available to students through a partnership arrangement involving schools, lenders, guarantors, and the federal and state governments.

  • Fixed interest rate of 3.86% for undergraduate level students and 5.41% for graduate level students.*.
  • The loan continues to gather interest while you are in school as well as during deferment periods.
  • You must apply annually (complete a FAFSA and a UIW Student Information Form) and you do not have to demonstrate financial need.
  • UIW determines whether you are eligible and originates the loan application.
  • You complete Entrance Counseling electronically (online at http://www.uiw.edu/finaid/ent/index.htm).
  • You sign the promissory note for the loan (also called Master Promissory Note or MPN) online at http://studentloans.gov.
  • The loan has a 1.051% origination fee, which is taken from the loan at the time of disbursement. (Effective March 1, 2013, this fee will be charged at 1% at the school but 1.051% at the Dept. of Education until July 1, 2013, at which time it will be charged 1.051% at the school. These changes are due to Federal sequestration changes and could change at any time through legislative action.)
  • Available to Undergraduate, Graduate, ADCaP and UIW Online students enrolled at least half-time (half-time is defined as 6 hours Undergraduate and 4 or more hours Graduate).
  • Repayment of principal and interest begins 6 months after you graduate or you are no longer enrolled at least half-time.
  • You have up to 10 years to repay this loan.

*Rates will continue to change yearly for new loans made on or after July 1 of each year based on Federal legislation.

This loan may be consolidated with other Federal education loans.

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Stafford Loan Limits

Annual Borrower Limits
Borrower's Grade Level Dependent Students *
Subsidized + Unsubsidized
Independent Students **
Subsidized + Unsubsidized
Freshman (0-31 credits) $5,500 (not to exceed $3,500 from Subsidized funds) $9,500 (not to exceed $3,500 from Subsidized funds)
Sophomore (32-63 credits) $6,500 (not to exceed $4,500 from Subsidized funds) $10,500 (not to exceed $4,500 from Subsidized funds)
Junior and Senior (64+) $7,500 (not to exceed $5,500 from Subsidized funds) $12,500 (not to exceed $5,500 from Subsidized funds)
Graduate Students (Master's and Ph.D. programs) n/a $20,500 (unsubsidized only)
Professional Students in the School of Optometry n/a $40,500 (unsubsidized only)
Professional Students in the School of Pharmacy n/a $33,000 (unsubsidized only)

*For dependent students whose parents cannot borrow under the Federal Direct PLUS Program, the amount a student can borrow under the unsubsidized program is the same as for an independent student.

**Independent students who are not eligible for a full subsidized federal Stafford loan may borrow their remaining subsidized eligibility under the unsubsidized program.

The maximum outstanding total Stafford loan debt (Subsidized + Unsubsidized) allowed is:

  • $31,000 for a dependent undergraduate student
  • $57,500 for an independent undergraduate student
  • $138,500 for a graduate students (including loans taken for undergraduate study) and
  • $224,000 for professional students in the School of Pharmacy or School of Optometry (including loans taken for undergraduate study).

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Low Interest/Zero Interest Loans through Private Foundations/Trusts

American Pharmaceutical Association Auxiliary (Irene A. Parks Loan Fund)

Attn:  Peggy Gawronski
305 W. Old Middle Creek
Prestonburg, Kentucky 41653
(606) 886-0249

  • Loans up to $500.
  • Loans ar made to pharmacy students during their two years of pharmacy school.
  • Repayment for the loan interest begins 60 days after graduation.
  • Applicants should express financial need on their application.
  • Information may be obtained by writing or calling the association.

The Nettie Mae Millhollon Educational Trust

P.O. Box 643

Stanton, Texas 79782

(432) 756-2261

millhollon@millhollon.com

  • Maximum loan amount of $2,000 per semester (Fall and Spring), not to exceed the aggregate amount of $16,000 for the student's school career.
  • Loans may be made to any student, subject to the availability of funds, who meets the foundation's requirements.
  • Must be a legal Texas resident.
  • Must be under age twenty-five (25).
  • Must be attending a Texas college or university which has been accredited by the Commission of Colleges of the Southern Association of Colleges and Schools (SACS).
  • Must be able to come to Stanton, Texas for a personal interview with one of the Board of Trustees Members at a time set by the Trustee.
  • Selected applicants will be chosen from those interviewed based primarily on financial need as determined by the Trustees.
  • All applications and attachments must be received in the Trust's office by the deadlines of July 1 for the Fall semester and January 2 for the Spring.
  • The note and application must be signed by the student applicant.  The note also must be notarized guaranteeeing repayment of all loans made to the student by the Trust.
  • All supporting data will become part of a permanent loan file and will not be returned to the student.
  • Applications that are not accepted will be destroyed along with all attachments.
  • Students must renew loans each semester by contact the Trust for a new note and application.  No interview is required for renewal.
  • To renew a loan, the student must have completed at least 12 semester hours with at least a 2.5 GPA during the previous semester.
  • Information on applying is available online at http://www.millhollon.com/index.htm.

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The Bill Raskob Foundation, Inc.
P.O. Box 507
Crownsville, Maryland  21032-0507
(410) 923-9123
ed@billraskob.org

  • Interest-free loan, not credit-based.
  • Undergraduate and graduate students may apply.
  • Applicants must be U.S. Citizens.
  • Students must have completed at least one year of study at an accredited institution.
  • Borrowing range of $1,000 - $3,000.
  • Repayment begins 6-12 months after graduation, depending on student's major.
  • Application period is January 1 - May 1 of each year.
  • Information is available online at http://www.billraskob.org.

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The Evalee C. Schwarz Charitable Trust
4265 San Felipe, Ste. 1100
Houston, TX 77027-2913
(713) 960-6616
pfs@privatefoundationservices.com

  • Interest-free loan, not credit-based.
  • Offered to students showing exceptional performance and significant financial need.
  • Undergraduate and graduate students may apply.
  • Applicants must be U.S. Citizens at the time of application.
  • Students must be enrolled in a school in the state in which the student resides.
  • Borrowers must have an Expected Family Contribution (EFC) of less than $5,293 based pm FAFSA Student Aid Report.
  • Borrowing range based on need.
  • Repayment period set by lender.
  • Application period is January 1 - April 15 of each year.
  • Information is available online at http://www.evaleeschwarztrust.org.

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The Abe and Annie Seibel Foundation

c/o The Frost Bank - Trust Department
PO Box 8210
Galveston, Texas 77553-8210
(409) 770-5665

  • Interest-free, not a credit-based loan.
  • Must be a U.S. Citizen, Texas resident, and have graduated from a Texas high school.
  • Must enroll full-time at a Texas college/university accredited by the Southern Association of Colleges and Schools (SACS)* with the intention of completing requirements toward a first bachelor's degree.
  • Entering freshmen must meet one of the following sets of scores to apply:
Class Ranking Minimum SAT Minimum ACT
Top 10% of Class any score any score
Top 15% of Class 1500 22
Second Quarter 1650 25
Third & Fourth Quarter 1800 27
  • College level applicants must maintain a 2.75 GPA overall.
  • Applicants with the above MINIMUM scores will be given consideration for approval; however, this is not to be defined as automatic approval.
  • High school seniors must submit a transcript reflecting SAT/ACT scores and rank in class.
  • Applications and transcripts will be presented to the directors in the order in which they are completed.
  • Funds are limited and it is advisable to submit requests as early as possible.
  • Students may contact the Foundation by telephone or mail after November 1 each year to be placed on the mailing list for the upcoming fall/spring long-term school year.
  • Application packets are accepted January 1 through February 28 of each year.

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PEO International
Adrienne Russell
arussell@sunshinecottage.org
peointernational.org

  • For women only and must be selected and recommended for this loan by the local PEO contact, Adrienne Russell.
  • 4% Annual Percentage Rate loans.
  • Not a credit-based loan.
  • Must be a U.S. or Canadian Citizen or Permanent Resident.
  • Must demonstrate financial need as determined through Financial Aid application.
  • Must be enrolled at least half-time.
  • Maximum loan amount of $9,000.
  • Contact Adrienne Russel for more information.

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The Minnie Stevens Piper Foundation
1250 N.E. Loop 410, Ste. 810
San Antonio, Texas 78209-1539
studentloan@mspf.org

  • 4% Annual Percentage Rate loans.
  • Not a credit-based loan.
  • Must be a U.S. Citizen or Permanent Resident.
  • Must be a Texas resident.
  • Must demonstrate financial need as determined through Financial Aid application.
  • Must be a college Junior, Senior or graduate/professional student.
  • Must be enrolled full-time.
  • Maximum loan amount of $1,000 per semester for undergraduate students or $2,000 per semester for graduate/professional students.
  • Apply online at http://www.everychanceeverytexan.org/funding/programs/studentloan.php.

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The Hattie M. Strong Foundation
1620 Eye Street, N.W., Ste. 700
Washington, DC. 20006-4005
(202) 331-1619
hmsf@hmstrongfoundation.org

  • This is an interest-free loan; eligibility is not credit-based.
  • To be eligible, students must be American college students in the U.S. or abroad who are entering their FINAL year of study in a baccalaureate or graduate degree program.  Foreign students temporarily in this country do not qualify for loans.
  • Eligibility is based solely on merit without regard to race, sex or religion.
  • Students must be enrolled full-time in an accredited four-year college or graduate school.
  • The maximum loan amount is $5,000.
  • The terms of repayment are based upon monthly income after graduation and are arranged with each individual so as to to create a minimum of hardship.
  • Arrangements are made directly with students; interviews are not conducted.
  • Students should contact the foundation between January 1 and March 31, giving a brief personal history, identification of educational institution attended, subject studied, dated expected to complete studies, and amount of funds needed.  Enclosure of a self-addressed, stamped envelope will speed up the application process.
  • If applicant qualifies for consideration for a loan, formal application blanks are then mailed to the students and forms must be returned to the foundation.
  • Loan funds are limited and loans are therefore made on a competitive basis, taking into account the applicant's motivation, need, and self-reliance as well as scholastic record.
  • Information is available online at http://www.hmstrongfoundation.org/contact_us.htm.

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Federal Direct Parent Loan for Undergraduate Student (PLUS):

  • Fixed interest rate of 7.9% for loans disbursed before 7/1/2013, 6.41% for loans disbursed on or after 7/1/2013.*.
  • Offered directly through the Department of Education.
  • Student does not have to demonstrate financial need.  However, beginning with the 2011-2012 academic year, a valid FAFSA is now required before a Parent PLUS loan can be processed.  Parent must submit a Parent PLUS Loan Request Form to begin the eligibility determination process.
  • Parent must not have an adverse credit history (or have an endorser who does not have an adverse credit history), but if the parent is denied due to adverse credit, the student may borrow Unsubsidized Stafford loans up to the Independent student academic year limits.
  • The annual loan limit is the total Cost of Attendance minus other aid.
  • The loan has a 4.204% origination fee, which is taken from the loan at the time of disbursement. (Effective March 1, 2013, this fee will be charged at 4% at the school but 4.204% at the Dept. of Education until July 1, 2013, at which time it will be charged at 4.204% at the school. These changes are due to Federal sequestration changes and could change at any time through legislative action.)
  • No aggregate limit
  • Repayment begins 60 days from the date of the final disbursement; however, parents may choose to defer principal payments while the student is enrolled at least half-time. A deferment or a forbearance will increase the total amount of interest paid over the life of the loan.
  • Interest begins to accrue at the day of the first disbursement.
  •  

    Once the credit review is passed, UIW determines how much you are eligible to borrow and originates the loan application.

  • You sign the promissory note for the loan (also called Master Promissory Note or MPN) online at http://studentloans.gov using your Department of Education PIN number.
  • If you do not remember your PIN or need to apply for one, please go to http://www.pin.ed.gov.
  • Available to Dependent Undergraduate students enrolled at least half-time (half-time is defined as 6 hours Undergraduate).
  • You have up to 10 years to repay this loan.

*Rates will continue to change yearly for new loans made on or after July 1 of each year based on Federal legislation.

How do you apply?
Parents can apply for a Direct PLUS loan by completing the Direct Parent PLUS Loan Request form (online at http://www.uiw.edu/finaid/forms.html).The parent borrower must consent to a credit check (which will be conducted by UIW through the Department of Education) as part of the application process. The student does not have to demonstrate financial need.  However, beginning with the 2011-2012 academic year, a valid FAFSA is now required before a Parent PLUS loan can be processed.

How do you sign for the loan?

You sign the promissory note for the loan (also called Master Promissory Note or MPN) online at http://studentloans.gov.

If you used a PIN to sign your family's "FAFSA on the Web", you can use the same PIN to sign your PLUS loan promissory note electronically. You may apply for a PIN at http://www.pin.ed.gov if you do not already have one. You may also click on “Request a Duplicate PIN” on the PIN site if you cannot remember your PIN number.

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Federal Graduate PLUS Loan:

  • Fixed interest rate of 7.9% for loans disbursed before 7/2/2013 and 6/41% for loans disbursed on or after 7/1/2013.*.
  • Offered directly through the Department of Education.
  • Student does not have to demonstrate financial need.
  • Student must be admitted into the Graduate program at UIW.
  • Student borrower must not have an adverse credit history (or have an endorser who does not have an adverse credit history).
  • The annual loan limit is the total Cost of Attendance minus other aid.
  • The loan has a 4.204% origination fee, which is taken from the loan at the time of disbursement. (Effective March 1, 2013, this fee will be charged at 4% at the school but 4.204% at the Dept. of Education until July 1, 2013, at which time it will be charged at 4.204% at the school. These changes are due to Federal sequestration changes and could change at any time through legislative action.)
  • No aggregate limit
  • Repayment begins at the time of the final disbursement, although you may apply for an in-school deferment if you are enrolled at least half-time.
  • Please note, the loan continues to accrue interest during deferment or forbearances. A deferment or a forbearance will increase the total amount of interest paid over the life of the loan.
  • Interest begins to accrue at the day of the first disbursement.
  • Once the credit review is passed, UIW determines how much you are eligible to borrow and originates the loan application.
  • You sign the promissory note for the loan (also called Master Promissory Note or MPN) online at http://studentloans.gov using your Department of Education PIN number.
  • If you do not remember your PIN or need to apply for one, please go to http://www.pin.ed.gov.
  • Available to Graduate students enrolled at least half-time (half-time is defined as 4 hours Graduate, 3 hours PhD (must be admitted as a PhD student), or 1 hour PhD in Dissertation).
  • You have up to 10 years to repay this loan.

*Rates will continue to change yearly for new loans made on or after July 1 of each year based on Federal legislation.

How do you apply?
Students apply online at http://www.studentloans.gov.  Student does not have to demonstrate financial need.  However, a valid FAFSA is required before a Graduate PLUS loan can be processed.

How do you sign for the loan?

You sign the promissory note for the loan (also called Master Promissory Note or MPN) online at http://studentloans.gov.

If you used a PIN to sign your "FAFSA on the Web", you can use the same PIN to sign your PLUS loan promissory note electronically. You may apply for a PIN at http://www.pin.ed.gov if you do not already have one. You may also click on “Request a Duplicate PIN” on the PIN site if you cannot remember your PIN number.

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State Alternative Loan (College Access Loan)

  • Funding for the CAL loan is limited – UIW will certify loans up to our available allocation only.
  • Fixed interest rate of 5.25 % (effective Fall 2011) or variable interest rate as determined by the Texas Higher Education Coordinating Board (the variable rate is set annually and will never be higher than 4 points above the rate at which the loan is made).
  • Students must be Texas residents, and must turn in a Texas Residency Questionnaire to establish state residency.
  • Students must be enrolled at least half-time in a course of study leading to an associate, bachelor or graduate degree or be enrolled in an approved Alternative Educator Certification Program.
  • Students must receive a favorable credit evaluation or provide a cosigner who has good credit standing and meets other requirements.
  • Students may borrow an amount up to the cost of attendance, less Stafford loan eligibility and other financial aid, even if the student will not accept their Stafford loans.
  • A 3% origination fee will be deducted from the proceeds of each loan if both the borrower and cosigner have a good credit standing; 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 standing.
Students may apply online at http://www.hhloans.com/ (sample CAL Application Disclosure statement).

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Federal Perkins Loan

There is a small amount of campus loan funding available to students with no other option. Funding is limited and students must demonstrate need based on FAFSA results to be considered. Since funding is limited, students on the waiting list are not guaranteed assistance through these loan programs. In addition, these funds are for billed expenses only and cannot to be used as a refund.

To be considered you must:

  • Be denied for a State or Private loan with a co-signer
  • Have a parent that has been denied for a PLUS loan (if a dependent student) and accept the additional Unsubsidized  Stafford loan, or be denied for a second State or Private loan with a co-signer (if an independent student)
  • Notify OFA (submitting denial letters) to be placed on a waiting list for additional funds (this includes Perkins, B-On-Time, and Federal Nursing Loan)

Federal Perkins Loan Information:

  • Loan interest rate of 5%
  • You can borrow up to $4000 depending on need
  • Funding is limited-awards are made on a first-come, first-serve basis to those students with high need
  • Total aggregate limit is $15,000 for undergraduates, $30,000 for graduates
  • Repayment begins 9 months after you graduate or are no longer enrolled half-time
  • You must complete a Promissory note - go to www.signmyloan.com
  • If you are graduating, you will need to complete the online Exit Counseling
  • Contact the Finance Loan Officer at the Business Office (210) 829-6084 or irmag@uiwtx.edu if you have any questions or experience any technical difficulties.

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Federal Nursing and Ralston Loans  

Students accepted into the UIW School of Nursing may apply for these need-based loans. Loan amounts will range from $2500-$4000. Funding is limited, and priority will be given to students that are enrolled full-time in the nursing program.

You may contact the OFA at finaid@uiwtx.edu or (210) 829-6008 to see if you are eligible.

Federal Nursing and Ralston Loan Information:

  • Loan interest rate of 5%
  • You can borrow up to $4000 per year, depending on need
  • Funding is limited – priority will be given to full-time nursing students
  • Repayment begins 9 months after you graduate or are no longer enrolled half-time
  • You must complete a Promissory note - go to www.signmyloan.com
  • If you are graduating, you will need to complete the online Exit Counseling
  • Contact the Finance Loan Officer at the Business Office (210) 829-6084 or irmag@uiwtx.edu if you have any questions or experience any technical difficulties.

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B on Time Loan 

**Funding for the 2014-15 academic year has not been confirmed. New students may be placed on a waiting list, pending funding availability.**

In order to qualify, students must:

Initial Requirements

  • Be a Texas resident; and
  • Meet one of the following academic requirements:
  1. Have graduated in the 2002-03 academic year or later from a high school operated by the U.S. Department of Defense or from a public or private high school in Texas under the recommended (or higher) high school program, or its equivalent; or
  2. Have earned an associate's degree from an eligible institution no later than May 1, 2005.
  • Not have been granted a baccaulaureate degree;
  • Be enrolled full time in an undergraduate degree in Main Campus courses at UIW;
  • Have completed a FAFSA and be eligible to receive federal financial aid.

Renewal Requirements:

  • Maintain a cumulative grade point average of 2.5
  • Complete a minimum of 75% of attempted coursework in previous academic year.

Forgiveness Requirements:

  • Graduate with a cumulative grade point average of 3.0 or higher, and
  • Graduate within 4 years of initially beginning college enrollment; OR with no more than 6 credit hours completed beyond the number required for your degree.
  • Please note: Students in Bachelor to Master's programs (sometimes called 4+1 or accelerated programs) or students who transfer directly into a professional program, such as Pharmacy or Optometry, without completing their Bachelor's degree first MAY not qualify for forgiveness. These students will not meet the 4-year rule, but may qualify for forgiveness under the credit hours rule, provided their total undergraduate hours are not more than 6 hours above what their undergraduate degree alone would have required.

If you are interested in this loan, contact Cristen Alicea at gimenez@uiwtx.edu or call 210-805-1238. Please include your student ID number; if you do not know your student ID number, please include your full name and your date of birth.

If you're graduating and believe you will qualify to have this loan forgiven, download and complete the Texas Higher Education Coordinating Board's B-on-Time Loan Forgiveness Verification Worksheet.

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Alternative Loans

If you need additional funds to meet your education costs, alternative loans may be an option for you.  Alternative loans are private loans made through private lending institutions (banks, credit unions or other, private educational lenders). These loans are not part of the federal government loan programs – they are credit-based and may require a cosigner. Alternative loans are generally more expensive than federal government guaranteed loans and should only be used when all other options have been exhausted.

Research all possibilities for scholarships, grants, work-study, and federal loan programs before borrowing from an alternative loan program. If you determine you need an alternative loan, research lenders carefully before making a decision.  Interest rates will vary based upon lender and credit eligibility. Students who qualify without a cosigner may still want to add a cosigner to their loan in order to secure a lower interest rate and/or lower origination fees. School-certified alternative loans will usually have better interest and repayment terms than non-school-certified loans.

Lender choice is up to you. Some lenders offer borrowing incentives, such as rebates on the principal loan balance or opportunities for interest rate reductions. Visit your lender's website for more information. Choose the loan that best suits your needs and remember to borrow only what you need.  To view a list of lenders UIW students have worked with in the past, check out the PRIVATE LOAN LENDER LIST (to view check the box to indicate you've agreed to the terms of use, click ACCEPT, select TEXAS as your state, and choose UNIVERSITY OF THE INCARNATE WORD from the drop down menu).

Lenders may ask for you to sign a form called a “Private Education Loan Applicant Self-Certification.” The information you need to complete the form can be found on your award letter, or in BannerWeb, under Financial Aid Status. They will be asking for your Cost of Attendance, the total amount of aid you have already been awarded, and the difference between the two numbers. Do not count aid that you are declining as part of the aid you are already receiving. If you need assistance with this form, please stop by or contact our office.

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Direct Stafford Entrance Loan Counseling

We require all students that receive Federal loans to complete the Direct Loan Entrance Counseling Session. This on-line loan counseling session is designed to help the borrower understand his/her rights and responsibilities as they pertain to loan borrowing.  The Direct Loan Entrance Counseling session must be completed before any loan funds may be disbursed to the student’s account.

  • Go to http://www.uiw.edu/finaid/ent/index.htm
  • Choose the session appropriate to your classification (Undergraduate or Graduate).
  • Begin a new Entrance Counseling session.*
  • Read the information provided carefully.
  • You must successfully complete the quiz at the end of the session to complete your requirement.
  • Upon completion, print out the confirmation page for your records.

The UIW Office of Financial Assistance will receive electronic confirmation within 2-3 business days of completing your session successfully.

*If you have previously completed this counseling, you may click on “Review previous results,” add UIW as a school, and reprint your confirmation. Please bring a copy of this confirmation to the UIW OFA.

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Direct Stafford Exit Loan Counseling

Direct Stafford Loan Exit Counseling is required for all graduating students who have received loan funds while attending UIW.  A hold will be placed on the student’s graduation if this requirement is not satisfied.

  • Go to http://www.uiw.edu/finaid/exit.html
  • Begin a new Exit Counseling session.
  • Read the information provided carefully.
  • You must successfully complete the quiz at the end of the session to complete your requirement.
  • Upon completion, print out the confirmation page for your records.
The UIW Office of Financial Assistance will receive electronic confirmation within 2-3 weeks of completing your session successfully.

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Repaying Your Student Loans

Any funds you borrow must be repaid.  Repayment terms vary depending on the type of loan the student has; and the terms the student agreed upon at the time the loan was initiated.  In general, students who have federal loans (Direct Stafford Loans, Perkins Loans, Nursing Loans, Ralston Loans or Graduate PLUS Loans) and parents who have federal loans (PLUS Loans) will enter a repayment status at the point either (a) the student's enrollment drops below half-time in any given semester, (b) the student leaves school, or (c) the student graduates. 

Deferment or forbearance options for federal loans may be available depending on the student's or parent's individual circumstances and the terms of the loan.  To find out if you qualify, contact your servicer (the company handling your loan repayment).  If you need contact information or if you are uncertain who currently holds your loans, you can obtain this information from the National Student Loan Data System** (NSLDS) or call the UIW Office of Financial Assistance for help.

**You will need your FAFSA PIN to log into the NSLDS site.  If you have misplaced your PIN, you can obtain a duplicate PIN by going to http://www.pin.ed.gov.)

Students and parents who have private loans, regardless of source, should visit with their lender regarding specific repayment requirements; and additional options (such as deferment or forbearance) if payment cannot be made at the time it is due.

If you want to learn more about your options and rights, visit the Student Loan Borrower Assistance Site.

Veterans and Servicemembers may have special options that help with loan repayment:

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Loan Repayment Programs

Loan Repayment Programs (LRP's) are programs sponsored by national, state and local governments, and some private organizations, where professionals (teachers, nurses, etc.) are recruited to practice in designated professional shortage areas. Participants may be provided with living stipends and funds to repay educational loans. Most contracts require a 2 to 4 year commitment, but individual program information should be consulted. Benefits may also include tax relief, scholarship opportunities and in the case of the military programs, enlistment as an officer in the Armed Forces.

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Last updated 04/10/2014


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