Loans

South Texas College provides Alternative Education Loans through the Texas Higher Education Coordinating Board (THECB) and Sallie Mae. These loans are intended for educational expenses. Please be aware that South Texas College does not participate in any type of Federal Title IV student loan program; Direct and FFEL Stafford Loans and Federal Perkins Loans are not an option at this institution.

Financial Literacy

Student Financial Services wants to empower our students with financial literacy so that anyone receiving financial aid and or loans will be able to understand and develop debt management skills.
Take control of your finances by:

Loan & Debt Management

For more information about repayment, managing debt, interest rates, loan requirements, etc., please review Loan & Debt Management and Financial Planning.

College Access Loan

(Students on financial aid suspension are not eligible for CAL)

The College Access Loan (CAL) Program provides an alternative type of educational loans to Texas students. Applicants do not have to demonstrate financial need and it may be used to cover all or part of a student's Expected Family Contribution (EFC). Apply Now!

Eligibility Requirements include:

  • Be a Texas resident
  • Be registered with Selective Service or be exempt
  • Declare a major leading to a certificate, associate or bachelor's degree
  • Be enrolled in at least 6 credit hours per semester
  • Meet the satisfactory academic progress requirements set by the institution
  • Receive a favorable credit evaluation or provide a cosigner who has good credit standing and meets other requirements. Please refer to www.hhloans.com for further information about eligible cosigners.

Loan Amounts:
Certified loan amounts will be based on hours enrolled for the semester for which the loan is being requested. Amounts are as follows:

12hrs or more: $5,000
9hrs - 11hrs: $4,000
6hrs - 8hrs: $3,000

To learn more about how to repay your College Access Loan, log on to www.hhloans.com

Required Forms

College Access Loan Acknowledgement Form, Loan & Debt Management Form, and Statement of Selective Service Status Form (this form for male students only) must be submitted before funds can be disbursed to your account. If funds are received and you fail to submit these forms, funds will be refunded back to Texas Higher Education Coordinating Board (THECB) after Census date for the semester you are requesting loan and you will be responsible for any interest charges that are incurred for the time it takes funds to be received by THECB.

Deadline:
Loan certification requests must be received by the Office of Student Financial Services by 5pm on census date of the semester for which the loan is being requested. Loans received after the deadline will not be certified.

Sallie Mae Smart Option Loan

The Sallie Mae Smart Option Student Loan is a private student loan that is offered to undergraduate students and managed by Sallie Mae Inc. Find out more at www.salliemae.com

South Texas College Eligibility Requirements Include

  • Enrolled for at least 3 credit hours (per semester) in a certificate, associate or bachelor's degree

Loan Amounts:
Certified loan amounts will be based on hours enrolled for the semester for which the loan is being requested. Amounts are as follows:

12hrs or more: $5,000
9hrs - 11hrs: $4,000
6hrs - 8hrs: $3,000
3hrs - 5hrs: $1,500

Required Forms

The Loan & Debt Management Form must be submitted before funds can be disbursed to your account. If funds are received and you fail to submit this form, funds will be refunded back to Sallie Mae after Census date for the semester you are requesting loan and you will be responsible for any interest charges that are incurred for the time it takes funds to be received by Sallie Mae.

Deadline:
Loan certification requests must be received by the Office of Student Financial Services by 5pm on census date of the semester for which the loan is being requested. Loans received after the deadline will not be certified.

Other Alternative Loans

Loan amounts for any other alternative loan will be as follows:

12hrs or more: $5,000
 9hrs - 11hrs: $4,000
 6hrs - 8hrs: $3,000
 3hrs - 5hrs: $1,500 (Certification for 3-5 hours is done on an individual basis for students enrolled in mini-mesters)

Required Forms:

The Loan & Debt Management Form must be submitted before funds can be disbursed to your account. If funds are received and you fail to submit this form, funds will be refunded back to respective loan after Census date for the semester you are requesting loan and you will be responsible for any interest charges that are incurred for the time it takes funds to be received by your loan lender.

Deadline:
Loan certification requests must be received by the Office of Student Financial Services by 5pm on census date of the semester for which the loan is being requested. Loans received after the deadline will not be certified.

Loan Processing Time

Minimum of 3-4 weeks for institution to receive funds
Unfortunately, it is difficult to give a specific timeline of the loan process. Many factors can affect when a student receives their loan including submitting an incomplete loan application, the loan requiring a cosigner and/or holidays (both federal and school). The estimated timeline for the loans is a minimum of 3 weeks for the Sallie Mae and a minimum of 4 weeks for CAL in order for the institution to receive funds.

*Note: Both Sallie Mae & CAL require that a loan disbursement date be at least 9 business days after certification to allow for the borrower's 'Right to Cancel'.

3-5 business days for fund verification
Once funds are received by the institution the Business Office needs to verify funds. The funds are usually verified within 3-5 business days but during peak times can take as long as 7 business days.

Credit Balance in Student Account
The loan funds will be applied to the student's account after the Business Office has verified the receipt of funds. The disbursement of a student's credit is done by the Cashier's Office. The student's refund method preference will affect how soon the student receives their credit. Please visit the Cashier's website for more information on selecting a refund method: https://finance.southtexascollege.edu/businessoffice/cashiers/refund-options.html

Loan Certifications

After the student submits a completed loan application to the loan provider, the student will be placed on a "Certification Roster". Loan certifications are done once a week, usually at the end of the week. The certification process requires the school to review eligibility requirements. Just because the loan was approved by the servicer does not mean the student is meeting in-school eligibility requirements. Students are only eligible to receive one loan per semester. Even though student may apply for multiple loans and be approved by lender, the first loan that is received by our Institution will be the one to get certified.

Loan Status

To check the status of your loan please log on to Jag Net and follow the instructions below:

  • Login to JagNet
  • Click on the "Student" tab located at the top of the page
  • Click on "Student Services"
  • Click on "Financial Aid"
  • Click on "Financial Aid Status"
  • Select the Aid Year the loan was applied for
  • A message will appear saying "You have active messages" The word "message" is hyperlinked, please click on the link and this should take you to a message regarding your loan status.

Loan Refunds

Students receiving a loan, in which the loan amount is in excess of their tuition, will receive a refund during the Final Refund Cycle. Loan students are not eligible to receive a book allowance. Please make prior arrangements for your books, if the only source of aid received is through a loan.

Dropping/Withdrawing from Courses

If you are receiving a loan and plan to make changes to your schedule, please notify our office immediately. Changes can result in having your loan adjusted and/or canceled.

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