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Loan Options

We help break down barriers to education – without breaking the bank

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Overview

HESC is a nonprofit organization dedicated to helping Texas students and their families realize their educational dreams through our Texas Extra Credit Education Loan program. We offer two low-cost loan options:

  • Private Student Loans for students who may or may not require a cosigner for credit approval
  • Private Parent Loans for parents, family members or other creditworthy individuals who wish to help pay for a student’s college costs

Competitive Fixed Interest Rates ranging from 2.79% (with Auto Pay discount 6) - 7.60% APR 1

All our loan options feature:

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Initial Credit Decision in Minutes 2

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Loan Limits from $1,000 to $65,000 3

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No Application, Disbursement or Origination Fees

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5, 10, and 15-year Repayment Terms

Plus:

  • Multiple repayment options
  • Interest rate discount for ACH 6
  • Ability to compare loan scenarios
  • Loan can cover past due balances 4
  • Funds are disbursed in up to four disbursements to the school
  • Open to undergraduate and graduate students
  • Total and permanent disability forgiveness 8, 10 and death forgiveness 9, 11
  • Deferment and forbearance options

Explore our loans

Student Loan Info Parent Loan Info

Before applying for a Texas Extra Credit Education Loan, we highly recommend you apply for and make use of all federal student aid through the Free Application for Federal Student Aid (FAFSA®) at fafsa.gov. To learn more about the types of federal student aid available, when to apply and eligibility requirements, visit studentaid.gov.

Requirements

  • Enrollment: The student must be enrolled at least half time in a degree-granting program (as certified by the school) at an approved school.
  • Resident of Texas: The borrower and cosigner, if applicable, must be permanent residents of Texas – the student can attend any approved college or university throughout the United States.
  • Current income: The applicant applying as creditworthy must provide proof of current income.
  • Citizenship: Applicant(s) must be United States citizen/national or lawful permanent resident alien of the United States.

Step-By-Step Process

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Apply

Start your loan with our easy online application

Student Loan Parent Loan
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Submit

Receive an initial credit decision within minutes of submitting your application

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Verify

Provide any required documentation to verify the information on your application

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Sign

If approved, sign your loan application. We’ll then request the school certify the loan

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Approve

Once certified, provide final loan approval and your funds can be disbursed