In order to apply for a student loan for the 2009-2010 academic year, you must complete:

• Complete a 2009-2010 TWU Financial Aid Certification and Information Form on line through the internet at www.twu.edu/finaid.   If you do not have Internet access, you may complete the paper TWU Financial Aid Certification and Information Form.  The financial aid office staff uses this form to determine your financial aid budget (cost of attendance), the semesters you plan to attend, the number of credit hours per semester in which you plan to enroll, and to identify other outside financial assistance you expect to receive.
• Complete the 2009-2010 Free Application for Federal Student Aid (FAFSA) after January 1, 2009 on-line at http://www.fafsa.ed.gov/
• To sign your FAFSA electronically, you (and your parent, if you are dependent) need a U.S. Department of Education PIN.  If you do not have a PIN, you (and your parent) can each apply for one at http://www.pin.ed.gov/.  Your FAFSA will be processed faster if you sign using a PIN.
• Request your information be sent to TWU, Denton, TX.  TWU's Title IV Code is 003646. 
• The information you provide on the FAFSA is used by the federal processing center to determine your eligibility for Pell Grant.  These same results are then used by the TWU Financial Aid Office to determine your eligibility for other federal grants, state funds, Work-Study, and student loans.
• Use 2008 tax returns to complete the FAFSA.
• If applying for a student loan, indicate on your FAFSA that you wish to apply for a loan.  Once the Stafford Loan is awarded, you will receive an Award Letter Notification and/or an email from Texas Guaranteed Student Loan Corporation (TG), that will instruct you to complete the loan application process online.
• If applying for a Parent Loan, the parent must go to their lender's web site to complete the PLUS application.  The parent must also complete the TWU Parent Loan Request Form and submit the form to the TWU Financial Aid Office. If the parent already has a PLUS Master Promissory Note on file with her/his lender from a prior year loan and wishes to use the same lender for a new loan she/he must still complete the TWU Parent Loan Request Form and submit the form to the TWU Financial Aid Office for the current year. Once the Parent Loan is awarded, you (the parent) will receive an email from Texas Guaranteed Student Loan Corporation (TG), that will instruct you (the parent) to complete the loan application process online.  
• If applying for a College Access Loan (CAL), go to http://www.hhloans.com/ to complete the application/promissory note prior to the application deadline. NOTE: The CAL can only be awarded for the semester(s) you indicate on the CAL Application.  You must also be a Texas resident.
• All students awarded a student loan (other than a Federal Parent Loan for Undergraduate Students must complete Debt Management/Loan Counseling prior to receiving loan proceeds.  Recipients of Federal Perkins Loans and Nursing Student Loans must complete Debt Management/Loan Counseling each year.  This may be done by accessing TWU on the Internet at http://www.twu.edu/finaid/ or by contacting the TWU Financial Aid Office at 940-898-3067 to make an appointment to attend a Debt Management/Loan Counseling session.  To complete the session by phone, call 940-898-3050 and select "Debt Management/Entrance Loan Counseling" from the Menu.  If you are applying for a Federal Stafford Loan or Graduate PLUS Loan only, or in addition to other loans, you will be required to complete Entrance Loan/Debt Management Counseling through TG Loans by Web at https://lbw.tgslc.org/LBW/start.do  when you accept your loans.

IMPORTANT - PLEASE NOTE THE FOLLOWING:

*  In accordance with Federal regulations, the initial disbursement of Federal Perkins Loans to all first-time borrowers will be delayed until 30 days after classes begin.

Selecting a lender is an important decision. As with any debt, the student borrower is responsible for repaying the loan--in full--even if the student did not complete school, cannot get a job, or feels that he/she did not receive the education or other services purchased. Failure to make regular monthly payments could result in a defaulted student loan.So, choosing a lender wisely is an important step in taking out a student loan.

• Does the lender offer any discounts, rebates or interest reduction programs?  Many lenders will.  Ask potential lenders or borrowers their web pages to learn more about these offers.
• Does the lender participate in the Federal Unsubsidized Stafford, Federal Parent Loan and Graduate PLUS programs? If you are eligible for these programs, be sure to select a lender that participates in the program.  You may select any lender of your choice.
• Does the lender hold any prior student loans that you may have?  If you already have a student loan, it is best to continue borrowing from the same lender.  If you borrow from different lenders, you will have to send separate payments to each lender unless the loans were consolidated when you ceased to be enrolled.
• Does the lender require a credit check? All parent borrowers must be credit-worthy to borrow Parent Loans.  Graduate students must also be credit-worthy to borrow Federal Graduate PLUS loans. 
• Does the lender sell its student loans?  Many lenders sell their loans to secondary markets.  You should learn more about the relationships your lender has with secondary markets.
• What has been the default experience of a particular lender?  While many factors contribute to the default of a student loan, some lenders may have administrative practices that are especially effective in reducing the likelihood of default.
• What level of service can I expect from my lender or its servicer? Most lenders employ servicers to answer students' questions and to take care of the day-to-day management of student loans.  By using the Lender Fact Sheets at: www.tgslc.org/factsheets/lenders/new_lender.cfm, you can learn which servicers a lender uses for its student loans.
• Does the lender participate fully in all of the electronic processes employed in the guarantee of my student loan?   Most lenders participate in electronic processes like Electronic Funds Transfer to streamline the student loan processes.  If your lender does not participate in electronic processes, your lender will probably send your loan via a paper check.
• Is a lender a credit union?  Some credit unions require credit union membership, even to borrow student loans.

Many students and parents have asked for information about student loans and student lenders.  Texas Woman's University does not recommend or endorse particular lenders, and we encourage you to review all of the available information very carefully.  The Texas Guaranteed Student Loan Corporation (TGSLC) maintains Lender Fact Sheets on its web site.  If you are selecting a lender for the first time, a place to start is to compare the Lender Fact Sheet of the bank that you or your family currently utilizes for personal business with other Lender Fact Sheets provided on the TGSLC web site.  Some helpful web sites are:

• http://www.studentaid.ed.gov/
• http://www.nasfaa.org/
• http://www.finaid.org/
• http://www.tgslc.org/borrowers/

Texas B-On-Time Loan (BOT)*

The Texas B-On-Time Loan is awarded to Texas residents who are eligible for federal financial aid and who meet the following conditions:

• Are graduates of public or accredited private high schools in Texas not earlier than the 2002-2003 academic year
• Completed the recommended or advanced high school curriculum,
• Have no yet earned a bachelor's degree
• Are enrolled full-time (12 hours per semester) in an undergraduate degree or certificate program at an eligible institution
• Have completed a FAFSA
• Have not complete 150 credit hours
• Have been certified by the financial aid office as eligible for the Texas B-on-Time Loan.

Loan amounts are up to $5,280 annually and any amounts borrowed may be cancelled or forgiven if the borrower:

• Finishes a four-year degree in four years, having taken no more than 6 semester hours beyond what is required for his or her major, or
• Finishes a five-year degree in five years, having taken no more than 6 semester hours beyond what is required for his or her major, and
• Graduates with a cumulative GPA of 3.0 or higher.

A 3% origination fee will be deducted from each loan and no awards will be made for the 2009 summer terms.  Once a student has received a loan through this program, to maintain eligibility for future disbursements, the student must make satisfactory academic progress in the first year and complete at least 75% of hours attempted with a cumulative GPA of 2.5 or higher in second and subsequent years.

In cases where borrowers do not meet requirements to have the loan forgiven, repayment will begin 6 months after the student ceases to be enrolled.  There will be no interest charged on the loan unless a judgment is obtained against the borrower for default in payment.  If interest in assessed, it will be at the rate specified in section 304.003 of the Texas Finance Code. Priority in awards is given to renewal recipients and students who failed to receive a TEXAS Grant due to lack of funding.

*Students awarded this loan must go to http://www.hhloans.com/ after receiving their Award Letter, print their promissory note, sign it, and mail it to the Texas Higher Education Coordinating Board using the address on the promissory note.

Federal Stafford Loan

Subsidized Federal Stafford Student Loans are awarded to eligible students on the basis of documented financial need. These loans do not accrue interest during eligible in-school and grace periods. In most cases payments are not required as long as the student is enrolled at least half time. The Subsidized Federal Stafford Student Loan is a debt and must be repaid.

Unsubsidized Federal Stafford Student Loans are not limited to students with documented financial need. Interest begins to accrue when funds are disbursed, but repayment of principal and interest may be deferred until the student no longer meets enrollment requirements. The Unsubsidized Federal Stafford Student Loan is a debt and must be repaid.

Maximum Annual Loan Limits

Borrowers Academic Level Classification	Dependent Student Sub + Unsub	Independent Student Sub	Independent Student Unsub
Freshman	$5,500	$3,500	$6,000
Sophomore	$6,500	$4,500	$6,000
Junior/Senior	$7,500	$5,500	$7,000
Graduate	N/A	$8,500	$12,000

Aggregate Loan Limits

Dependent Undergraduates	Subsidized + Unsubsidized (No more than $23,000 can be Subsidized)	$31,000
Independent Undergraduates	Subsidized only	$23,000
Independent Undergraduates	Unsubsidized + Subsidized	$57,500
Graduates	Subsidized only (Includes undergraduate loans)	$65,500
Graduates	Unsubsidized + Subsidized (Includes undergraduate loans)	$138,500

Federal Parent Loan for Undergraduate Students

The Federal Parent Loan is a loan made to the parent of an eligible undergraduate dependent student for the student's allowable educational costs. The student for whom the Federal Parent Loan funds are borrowed must maintain at least half-time enrollment in an eligible degree program. These loans begin to accrue interest as soon as loan proceeds are disbursed; repayment begins within 60 days after the loan is fully disbursed. The Federal Parent Loan for Undergraduate Students is a debt and must be repaid. The parent must also complete the TWU Parent Loan Request Form and submit the form to the TWU Financial Aid Office. NOTE:  Dependent students may apply for additional Federal Unsubsidized Stafford Loans if their parents are denied a Federal Parent Loan because of adverse credit.  Documentation of the denial must be submitted to the TWU Financial Aid Office.

Federal Graduate Plus Loan

The Graduate PLUS Loan is made to degree or certification seeking graduate students enrolled half-time or more, who have been awarded or notified of their maximum eligibility for a Federal Stafford Loan.  A credit check is required and FAFSA results must be on file with the Financial Aid Office.  A creditworthy cosigner is required for applicants who fail the credit test.  Students may borrow up to the cost of attendance minus other financial aid received.  Repayment begins 60 days after the final disbursement of the loan.  Interest begins to accrue from the date of disbursement and continues through any deferment or forbearance until the loan is paid in full.  Payments of principal and interest may be deferred during periods of enrollment of at least half-time (6 hours/semester or more).  Interest payments not made during periods of enrollment or deferment will be capitalized.

Federal Perkins Loan

Federal Perkins Loans are available to undergraduate and graduate students on the basis of exceptional financial need. Undergraduate students may borrow up to $4,000 per year and graduate students may borrow up to $6,000 per year not to exceed an aggregate limit of $20,000 for undergraduates and $40,000 for graduates. Entrance loan counseling is required EACH year for Federal Perkins Loan borrowers. The first payment on the Federal Perkins loan is delayed for 30 days following the first date of enrollment for first-time borrowers. In addition, each disbursement on a Federal Perkins Loan must be reported to a national credit bureau. Interest does not accrue and repayment is not required as long as the student is enrolled for at least six semester hours in a degree program. Repayment begins nine months after the student graduates or ceases to be enrolled for at least six semester hours at 5% interest. Under certain circumstances a portion of the loan may be cancelled for designated public service. The Federal Perkins Loan is a debt and must be repaid.

The lender for the Federal Perkins Loan is Texas Woman's University. TWU utilizes the loan billing services of ACS, Inc. After you graduate or drop below half-time enrollment, all general billing questions should be directed to ACS at 800-826-4470, ext. 2810. Questions regarding forbearance or deferment should be directed to ACS at 630-620-2810.

Nursing Student Loan

Nursing Student Loans are awarded to eligible nursing students with high documented financial need. Students may borrow up to $2,500 per year in their 1st and 2nd year of study and up to $4,000 per year in their 3rd and 4th year of study, up to an aggregate of $13,000. Graduate students may borrow up to $4,000 per year. Entrance loan counseling is required EACH year. Interest does not accrue and repayment is not required as long as the student is enrolled for at least six semester hours as a nursing major. Repayment begins nine months after a borrower graduates or ceases to be enrolled for at least six semester hours as a nursing major at 5% interest. Students who change their major form Nursing go into immediate repayment.  Such students may request an annual forbearance if enrolled full time.  The Nursing Student Loan is a debt and must be repaid.

The lender for the Nursing Student Loan is Texas Woman's University. TWU utilizes the loan billing services of ACS, Inc. After you graduate or drop below half-time enrollment, all general billing questions should be directed to ACS at 800-826-4470, ext. 2810. Questions regarding forbearance or deferment should be directed to ACS at 630-620-2810.

College Access Loan (CAL)

The CAL is a loan offered by the Texas Higher Education Coordinating Board to Texas residents who receive a favorable credit evaluation or provide a cosigner who has a good credit standing and meets other requirements. Interest rates are set annually and interest begins to accrue from the time funds are disbursed, but repayment of principal may be deferred until the student no longer meets enrollment requirements. Repayment begins six months after the students ceases to be enrolled at least half time (six credit hours). Students may borrow up to their cost of attendance, less other financial aid awards, each year.  Students should exhaust all eligibility for grants and Federal Stafford Loans before applying for this loan. The College Access Loan is a debt and must be repaid. Students applying for the CAL should go online to http://www.hhloans.com/ to complete the application/promissory note.

Health Education Loan Program (HELP)

The Health Education Loan is a loan offered by the Texas Higher Education Coordinating Board and provides loans to Texas students enrolled in allopathic (M.D.), osteopathic (D.O.), public heath practitioner, pharmacist, optometrist (O.D.), veterinarian (D.V.M.), allied health and nursing fields. Other eligibility requirements are the same as the College Access Loan listed above. Loan amounts are up to $12,500 annually with an aggregate maximum of $50,000. Interest is currently fixed at 6.00 % and begins to accrue at disbursement. Repayment begins nine months after the student ceases to be enrolled half-time.  A HELP application must be completed.

Private or Alternative Loans

Private or alternative loans are available in cases where the federal loan programs are inadequate to help a student meet their financial needs.  Although rates for these loans are usually not as competitive as those for federal loans, they are often useful for international students, independent students who are limited in their borrowing by the annual loan limits that the federal loan programs have, or students attending less than half time.

Entrance Loan Counseling / Debt Management

All students awarded a student loan (other than a Federal Parent Loan for Undergraduate Students must complete Debt Management/Loan Counseling prior to receiving loan proceeds.  Recipients of Federal Perkins Loans and Nursing Student Loans must complete Debt Management/Loan Counseling each year.  This may be done by accessing TWU on the Internet at http://www.twu.edu/finaid/ or by contacting the TWU Financial Aid Office at 940-898-3067 to make an appointment to attend a Debt Management/Loan Counseling session.  To complete the session by phone, call 940-898-3050 and select "Debt Management/Entrance Loan Counseling" from the Menu.  If you are applying for a Federal Stafford Loan or Graduate PLUS Loan only, or in addition to other loans, you will be required to complete Entrance Loan/Debt Management Counseling through TG Loans by Web at https://lbw.tgslc.org/LBW/start.do  when you accept your loans.