Alternate Loan Options

Related Links

Federal Direct Parent Plus Loans

Available for the parents of dependent undergraduate students who are enrolled at least halftime (minimum 6 hours per semester). Financial need is not required, but student must submit a FAFSA application at www.fafsa.ed.gov.

Interest rate for Plus loans is 6.31% for loans disbursed on or after July 1st 2016. The rate is fixed for the life of the loan.

Only the parent/step-parent listed on the FAFSA is eligible to borrow Plus Loans. A credit check will be processed through the Department of Education for the borrower. The borrower cannot be in default on any previous Federal loans.   

Maximum amount is Estimated Cost of Attendance minus any other financial aid received.

SRSU Financial Aid department requires parent/student to submit a Parent Plus Loan Application. The parent will be required to complete a Master Promissory Note at www.studentloans.gov after the loan is approved by the SRSU Financial Aid office.

**If a Parent Plus Loan is denied due to adverse credit history or default status, the student becomes eligible to borrow additional Unsubsidized Loan amounts.

 

College Access Loan (CAL)

CAL loans are available for degree-seeking students who are enrolled at least halftime. Financial Need is not required, but a student should submit a FAFSA to determine if the student has eligibility for other types of aid before borrowing from the CAL program.

Interest rate for CAL loans is 4.5%.

The student must be credit worthy or may provide an eligible co-signer who has a good credit rating.

Maximum amount is Estimated Cost of Attendance minus any other financial aid received.

Students are required to submit a Private Loan Application to the SRSU Financial Aid office and also apply at www.hhloans.com.

 

Private/Alternative Loans

Private/Alternative Loans are available for students who are enrolled at least halftime. Financial Need is not required, but students should submit a FAFSA to determine if the student is eligible for other types of aid before borrowing from a private lender. All Federal loan eligibility should be exhausted before pursuing a Private Loan.

Interest rates vary for each student and are determined by their credit rating. A students might need an eligible co-signer in order to qualify for this type of loan.

Maximum amounts are Estimated Cost of Attendance minus any other financial aid received.

Students are required to submit a Private Loan Application to the SRSU Financial Aid office and also apply with a lender of their choice. Sul Ross does not publish or establish a preferred lender list for Private Loans and recommends this type of loan be used only as a last resort.