Loans

There are several types of loans available from federal, state, and outside servicers that are available to students.  A loan is money borrowed that you must pay back with interest.  If you decide to take out a loan, make sure you understand the terms and conditions.

Federal Student Loans

Loans made by the federal government usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources.

Download the Federal Student Loan Comparison Sheet to see how each federal loan differs from one another.

Federal Direct Loans

Available to undergraduate and graduate students as well as parents of dependent undergraduate students.


State Loans

Available to undergraduate students who are Texas residents.

  • Be On Time Loans-Renewal ONLY

This program is being phased out by the State of Texas. Students who borrowed through the Be on Time Program prior to the 2015-2016 academic year are the only ones eligible to continue in this program. The program is scheduled to be phased out within the next 4 – 5 academic years. 

  • College Access Loans


Private Education Loans

A private student loan is a nonfederal loan issued by a lender such as a bank or credit union.  Private loan applications are completed with the lender and usually require a credit check.  Texas A&M University - Commerce does not have any contractual agreements with any private lender and as such there are no preferred lenders.  

  • If you haven't already applied for federal and state financial aid, you're encouraged to do so by completing the FAFSA
  • You may wish to delay your private loan until you receive your financial aid award notice because you could receive enough financial aid to replace the private loan you intend to borrow.
  • For more information about applying for financial aid at Texas A&M University-Commerce, (e.g., grants, low-cost education loans, scholarships, and work-study programs) visit the Financial Aid Office's website.

Responsibilities of the Borrower

Before disbursement of any private education loan can occur, an applicant self-certification must be completed. This form is usually part of the application process you complete through your lender. 

1. Follow the instructions included on the self-certification form.
2. In order to complete Section 2 of the form, you will need to access your TAMUC cost of attendance and your estimated financial assistance by following these instructions:

  • Log into myLeo.  To navigate to the Federal Shopping Sheet, click "Financial Aid" then "Financial Aid" again.  Click "Federal Shopping Sheet", select the aid year from the menu, and "Submit".

  • Write the "Estimated Cost of Attendance" amount as your cost of attendance on Section 2, Item A of the form.

  • Add the amount listed under "Grants and scholarships to pay for college" with "Work Options" and "Loan Options".  Write this total amount as your estimated financial assistance on Section 2, Item B of the form.

    • Be sure to include awards for only the terms covered by the loan period.

    • If you have applied for financial aid but awards have not yet been made, report $0. You may wish to delay your private loan until you receive your financial aid award notice, because you could receive enough financial aid to replace the private loan you intend to borrow.

  • Complete Section 2, Item C using the formula on the form.

  • If you have any questions, please contact our office.

3. Complete Sections 3 and 4 and submit to the lender; do not submit this form to Financial Aid and Scholarships.


Student Loan History Information

If you have received federal loans and would like to check your interest rate, servicer information and other financial aid history, go to the National Student Loan Data System (NSLDS).  NSLDS keeps all student loan history information for all schools that you have ever attended.