Financial Aid Resources

Loans are borrowed funds that are charged interest and must be repaid. There are three categories of loans: federal (supported by the federal government), state (funded by the state), and private (issued by a bank or credit union).

To receive assistance from any of these loan programs the student must complete the free application for Federal Student Aid (FAFSA).

What's the difference in a subsidized and unsubsidized loan?

A subsidized loan is awarded on the basis of financial need.  Interest will not be charged on this loan while the student is enrolled in school or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods.

An unsubsidized loan is not awarded on the basis of need. Interest is charged from the time the loan is disbursed until it is paid in full.  Interest that accrues (accumulates) while the student is in school or during other periods of nonpayment will be capitalized - that is, the interest will be added to the principal amount of the loan and additional interest will be based on that higher amount.

How do I get a Direct loan?

A regular student enrolled in an eligible program at least half-time may receive a Direct loan. Complete the FAFSA as you would for other federal student aid.

Once a Direct loan has been awarded the student should complete an online Master Promissory Note (MPN) and Entrance Counseling.  The MPN is a binding legal document.  By signing it you are agreeing to repay your loan under the terms specified.  Both the MPN and Entrance Counseling should can be completed at studentaid.gov.

How much can I borrow?

Combined Subsidized & Unsubsidized Annual Loan Limits

Dependent students

• Freshman (<30 hrs) $5,500
• Sophomore (30-59 hrs) $6,500    
• Junior/Senior (60+ hrs) $7,500   

Independent students

• Freshman (<30 hrs) $9,500
• Sophomore (30-59 hrs) $10,500
• Junior/Senior (60+ hrs) $12,500

Why is the amount on my bill not the same as the amount awarded?

Direct loans are subject to origination fees.  Origination fees are charged by the lender.  These fees may range from 1% to 3%.  For example, if you borrow $3,500 ($1,750 per semester), the lender may hold out $36 in origination fees for the year ($18 per semester).  $1,732 per semester would be applied to the bill instead of the award amount of $1,750.  You are required to repay the full award amount.

Important Change to Federal Student Loans: Amounts Are Now Based on Your Enrollment Level

Effective for the 2026–27 academic year (terms beginning July 1, 2026 and later)

What's Changing

A new federal law (the One Big Beautiful Bill Act, sometimes called OBBBA or OB3) changes how much you can borrow in federal Direct Loans if you are not enrolled full-time. Starting with the 2026–27 academic year, your loan amount will be reduced, or “prorated,” to match your actual enrollment level each semester.

In the past, many students could receive a full annual loan amount as long as they met at least half-time enrollment. That is no longer the case. Under the new rule, the less-than-full-time loan amount is tied directly to how many credit hours you are taking.

Who This Affects

This applies to you if, for any semester in the 2026–27 award year or later, you are enrolled less than full-time (fewer than 12 credit hours as an undergraduate) and are borrowing a Federal Direct Subsidized or Unsubsidized Loan.  This applies to Undergraduate and Graduate students.

If you are enrolled full-time every semester, this change does not reduce your loan amount.

How Proration Works

Your loan eligibility is based on your enrollment level for each semester, not an average across the year. The chart below shows an example using a full-time annual maximum of $3,500 (actual amounts vary by grade level; this is for illustration only).

*Credit hour ranges reflect typical PJC enrollment categories; your enrollment level is confirmed at census each semester.

What Stays the Same

• You must still be enrolled at least half-time to receive any federal Direct Loan.
• Subsidized and Unsubsidized Direct Loans are both still available to eligible undergraduates.
• Your total annual and aggregate (lifetime) loan limits are unchanged.
• You can still decline, reduce, or cancel loan funds at any time.

If You Borrowed Before July 1, 2026

A limited transition provision may allow some students who already had a Direct Loan disbursed before July 1, 2026 to continue under the prior rules for up to three more academic years, as long as you remain continuously enrolled in the same program at ETBU. Final federal guidance on this provision is still being implemented, so your Financial Aid award may be adjusted once your enrollment is confirmed each semester.

What You Should Do

• Decide your enrollment plans for each semester as early as possible, since your loan amount is set by your actual credit hours.
• Watch for updated award notifications in your student portal after each semester's census date.
• If dropping below full-time will affect your loan amount, contact our office before you make changes to your schedule.
• Ask us about other resources, including grants and scholarships, if a prorated loan amount will not fully cover your costs.

Questions?

Federal guidance on this provision is still being finalized by the U.S. Department of Education, and amounts may be updated as final rules are released. If you have questions about how this affects your specific award, please contact the ETBU Office of Financial Aid.

The Parent PLUS Loan is a federal loan that the parents of dependent undergraduate students can use to help pay education expenses. 

Parent Borrowers may complete the application for a PLUS Loan here. 

Notes:

• Please sign in using the parent's FSA ID.
• Please do not complete the PLUS Loan application prior to June 1 of the academic year for which you are applying. 
• A credit check will be performed during the application process and is only valid for 90 days.
• The institution is required to verify the borrower is the parent of the student and may request additional documentation to verify.

Approved PLUS borrowers

The U.S. Department of Education will notify us of any approved PLUS loans within 24 hours. Parent must complete the Master Promissory Note at studentaid.gov. The Master Promissory Note must be in the parent's name. The PLUS must also be accepted online at Tiger Connect. PLUS loans, like Direct Loans, are subject to origination fees.

Denied PLUS borrowers

The U.S. Department of Education will notify us of any denied PLUS loans within 24 hours. If the parent is denied the PLUS loan, the student is then eligible for additional Direct Unsubsidized Loan funds. The student must accept the additional unsubsidized loan on Tiger Connect.

Endorsed PLUS borrowers

If the parent is denied but chooses to get an approved endorser then parent will need to complete the Master Promissory Note (MPN) and the PLUS Credit Counseling at studentaid.gov.

OB3 Federal Guidelines

In accordance with the new OB3 Federal Guidelines effective July 1, 2026, Parent PLUS loans are now subject to an aggregate limit of $65,000 per student. To ensure eligibility remains available across four years, ETBU will award a maximum of $16,250 per year ($8,125 per semester). The parent must appeal and request by the Parent PLUS email to financialaid@etbu.edu any modifications to this awarding procedure.

For more information on the PLUS Loan, please click here.

The College Access Loan provides loan funding to students from Texas. Students do not have to demonstrate financial need to receive CAL, but the cost of attendance is considered in determining loan limits.

To be eligible for CAL a student must:

• Be classified by the institution as a Texas resident, Texas Residency must be on file with ETBU
• Be registered with Selective Service
• Be enrolled at least half-time in a course of study leading to an associate's, bachelor's, graduate, or higher degree; or an approved alternative educator certification program
• Meet the satisfactory academic progress requirements
• Receive a favorable credit evaluation or provide a cosigner who has good credit standing and meets other requirements

For more information and to apply for a CAL loan click here.

**If a student is eligible but chooses not to file a FAFSA, the financial assistance to be deducted should include all aid they were awarded. The institution must also deduct the maximum Direct Loan eligibility (including subsidized and unsubsidized) based on the student's grade level and the institution's best determination of dependency status.

The Future Occupations & Reskilling Workforce Advancement to Reach Demand (FORWARD) Loan Program provides loan funding to students from Texas. FORWARD has a lower interest rate than the CAL loan and Direct Parent PLUS loan.

To be eligible for FORWARD a student must:

• Be classified by the institution as a Texas resident, Texas Residency must be on file with ETBU
• Be registered with Selective Service
• Have insufficient resources to finance their education
• Meet the satisfactory academic progress requirements
• Receive a favorable credit evaluation or provide a cosigner who has good credit standing and meets other requirements
• Sign a promissory note and provide two references who live at separate addresses
• Be enrolled in a High-Demand Credential Program; Qualifying ETBU Programs: Nursing and Education 
• meet one of the following enrollment requirements:
  • Degree program: Must be enrolled in a degree program having completed at least 50% of the required coursework prior to receiving a FORWARD loan. Junior/Senior Classification at ETBU.
  • Non-degree program: Must be enrolled in a non-degree program with a duration less than two years.
  • Baccalaureate-master's degree program: Must be enrolled in master's degree coursework, with the master's degree as part of a combined baccalaureate-master's program approved by the ETBU.

For more information and to apply for a FORWARD loan click here.

**If a student is eligible but chooses not to file a FAFSA, the financial assistance to be deducted should include all aid they were awarded. The institution must also deduct the maximum Direct Loan eligibility (including subsidized and unsubsidized) based on the student's grade level and the institution's best determination of dependency status.

Private loans are obtained through a bank, credit union, or other independent lender. You will need to work directly with the lender of your choice to apply for a private loan.

ETBU has partnered with ELM Select to give you the best options when deciding which student loan best fits your needs. Go to Elm Resources to compare loan availability and apply.

Loan funds are generally disbursed to student accounts in equal amounts twice per loan period.  Most commonly the loan period consists of Fall and Spring semesters, therefore, one disbursement is made in the Fall and one in the Spring.

Graduate Loans are divided into three terms (Fall, Spring, Summer) because most graduate students attend twelve months.

Once the tuition refund period has passed, loans will be disbursed and the Business Office will issue any refunds due at that time to the student's designated bank account.

There are two main types of Gift Aid: Scholarships and Grants. Scholarships and grants are free financial aid that do not have to be repaid.

Scholarships

Scholarships are usually merit-based, whereas grants are typically need-based. 

Grants

ETBU awards different grants to students. To have your eligibility considered for any of the following grants you must complete the Free Application for Federal Student Aid (FAFSA).

The Federal Pell Grant is awarded to undergraduate students who have not previously received a bachelor's degree and who meet eligibility requirements as determined using criteria from the FAFSA. The Pell Grant will be included in your financial aid package if you qualify. Visit Federal Student Aid for more information about Federal Pell Grants.

he Federal Supplemental Educational Opportunity Grant (FSEOG) provides need-based financial aid to undergraduate students with exceptional financial need who need additional assistance paying for their post-secondary education. ETBU receives an annual allocation of FSEOG funds from the U.S. Department of Education and awards funds to eligible students based on financial need and available funding.

Who Is Eligible for FSEOG?

FSEOG is available to eligible undergraduate students with exceptional financial need, with priority given to students who:

• Have the lowest Expected Family Contributions (EFCs)

• Qualify for a Federal Pell Grant

• Demonstrate exceptional financial need

Students who have already earned a bachelor's or first professional degree are not eligible for FSEOG while pursuing an additional undergraduate degree.

How Much Can Students Receive?

FSEOG awards at ETBU typically range from $100 to $4,000 per year. Award amounts depend on the student's financial need, eligibility, and the availability of federal funds.

Because FSEOG funding is limited, meeting the eligibility requirements does not guarantee that a student will receive an award.

FSEOG and Other Financial Aid

A student's total financial aid cannot exceed their demonstrated financial need. If a student receives additional financial resources after being awarded FSEOG and their total financial aid exceeds their financial need, the Financial Aid Office may need to reduce need-based financial aid to prevent an over-award.

For questions about FSEOG eligibility or other federal financial aid options, contact the ETBU Financial Aid Office.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant provides financial assistance to eligible students who are pursuing a degree in education and plan to become teachers in high-need schools and fields.

Unlike a traditional student loan, a TEACH Grant does not have to be repaid as long as the recipient meets all required teaching obligations after graduation. If the service requirements are not fulfilled, the grant may be converted into a loan that must be repaid.

TEACH Grant Service Requirements

To keep the TEACH Grant as grant aid, recipients must agree to:

• Teach in a high-need field

• Work at an eligible educational institution that serves students from low-income families

• Teach for at least four academic years within eight years of completing the course of study for which the grant was received

TEACH Grant recipients must meet additional eligibility and service requirements. For complete and current information about TEACH Grant eligibility and teaching obligations, visit Federal Student Aid: TEACH Grants.

The Texas Tuition Equalization Grant is available to students who demonstrate financial need at not-for-profit colleges and universities in Texas. To qualify for this state grant, students must:

• Be classified by the institution as a Texas Resident
• Be registered with Selective Service
• Show financial need
• Be in satisfactory academic progress as determined by institution
• Be enrolled at least 3/4 time
• Meet the general requirements to receive financial aid
• Be an undergraduate seeking a first bachelor's degree
• Not a recipient of an athletic scholarship during any semester TEG is awarded

For more information regarding the Texas Tuition Equalization Grant, visit My Texas Future.

Loans are borrowed funds that are charged interest and must be repaid. There are two categories of loans: federal (supported by the federal government), and private (issued by a bank or credit union). For Loan eligibility, 3 Graduate hours of enrollment is required. 

To receive assistance from any of these loan programs the student must complete the free application for Federal Student Aid (FAFSA).

Federal Direct Unsubsidized Loan

A Federal Direct Unsubsidized Loan is a federal student loan that is not awarded based on financial need. Interest begins accruing when the loan is disbursed and continues to accrue while the student is enrolled and during periods of deferment or nonpayment.

Unlike a subsidized loan, the federal government does not pay the interest on an unsubsidized loan while you are in school. Any unpaid interest may be added to the principal balance of the loan, increasing the total amount on which future interest is calculated.

How Do I Apply for a Direct Unsubsidized Loan?

To apply for a Federal Direct Unsubsidized Loan, students must:

1. Complete the FAFSA to apply for federal student aid.

2. Be enrolled at least half-time in an eligible degree program.

3. Accept the Direct Loan offered through their financial aid award.

4. Complete Entrance Counseling.

5. Complete a Master Promissory Note (MPN).

The MPN is a legally binding agreement in which you agree to repay your federal student loan according to its terms. Both the MPN and Entrance Counseling can be completed through Federal Student Aid.

How Much Can I Borrow?

Graduate students may be eligible to borrow up to $20,500 per academic year in Federal Direct Unsubsidized Loans, subject to federal eligibility requirements and annual cost-of-attendance limits.

The aggregate federal student loan limit for graduate and professional students is $138,500, which includes eligible undergraduate Direct Subsidized and Unsubsidized Loan amounts received during a student's education.

Because federal loan limits and requirements can change, students should review their financial aid award and current federal student aid information to determine their eligibility.

Private Student Loans

Private student loans are education loans offered by banks, credit unions, and other independent lenders. Unlike federal student loans, private loans are not provided by the U.S. Department of Education. Students apply directly with the lender and should carefully review the loan's interest rate, fees, repayment terms, and eligibility requirements.

Compare Private Student Loan Options

ETBU has partnered with ELM Select to help students compare private student loan options from participating lenders. ELM Select allows you to review available loans and find an option that best fits your financial needs.

Compare Private Student Loans through ELM Select

Before choosing a private student loan, consider your federal financial aid options and compare the terms and costs of each loan carefully.

Graduate Loan Disbursement

Graduate student loans are typically divided across three terms—Fall, Spring, and Summer—because many graduate students attend ETBU throughout the full academic year. Loan funds are generally disbursed in equal installments across these terms.

After the tuition refund period has ended, loan funds will be applied to the student’s account. If the loan creates a credit balance after eligible charges have been covered, the ETBU Business Office will issue the remaining refund to the student’s designated bank account.

For information about student refunds, visit the ETBU Business Office.

Step One: Complete Your Financial Aid Applications

Before ETBU can determine your eligibility for financial aid, you must complete the appropriate application(s) and be admitted to the University.

1. Apply for Admission to ETBU

Complete the Application for Admission and Financial Aid. You must be admitted to ETBU and have submitted the appropriate financial aid application before the Financial Aid Office can determine your eligibility.

Don't want to be considered for federal, state, or ETBU need-based aid? You can still be considered for merit-based aid. Complete the Refusal to File FAFSA form so the Financial Aid Office can proceed with awarding your merit-based aid.

2. Complete the Appropriate Financial Aid Application

If you are eligible to file the FAFSA

Complete the Free Application for Federal Student Aid (FAFSA).

ETBU's FAFSA school code is 003564.

Which FAFSA should you complete?

• 2026–27 FAFSA: For students attending ETBU during any term between August 15, 2026, and August 12, 2027

• 2025–26 FAFSA: For students attending ETBU during any term between August 15, 2025, and August 12, 2026

ETBU's academic financial aid year includes Fall, Spring, and trailing Summer terms.

If you are a Texas resident who is not eligible to file the FAFSA

You may be eligible to apply for state financial aid through the Texas Application for State Financial Aid (TASFA).

Students who are Texas residents but are not:

• U.S. citizens

• Permanent U.S. residents with an Alien Registration Card (I-551)

• Conditional permanent residents with visa type I-551C

• Eligible non-citizens with an Arrival/Departure Record (I-94)

should complete the TASFA and the Core Residency Questionnaire to be considered for state financial aid.

Male applicants must also register for Selective Service.

TASFA Supporting Documents

Students completing the TASFA may need to provide the following supporting documents:

• Selective Service Statement of Registration Status – English

• Selective Service Statement of Registration Status – Spanish

• Core Residency Questionnaire

3. Watch Your TigerMail

Once your financial aid has been processed and your award is ready, ETBU will notify you through your TigerMail account.

After you receive your financial aid notification, continue to Step Two to accept and secure your financial aid.

Step Two: Accept or Decline Your Financial Aid

Once your financial aid award is ready, you’ll receive an award letter by mail and/or a notification through your TigerMail account.

1. Log In to Tiger Connect

Log in to Tiger Connect using your ETBU email credentials.

2. Review and Accept or Decline Your Direct Loans

Review your financial aid and indicate whether you want to accept or decline each Direct Loan by selecting the appropriate option. Click Submit when you are finished.

Submitting your selections notifies ETBU of your decision regarding your offered loan(s).

Graduate Enrollment Requirements

Your enrollment level can affect your financial aid eligibility. For graduate students:

• Full-time: 6 credit hours per term

• Half-time: 3 credit hours per term

3. Continue to Step Three if You Accepted a Federal Direct Loan

If you accepted a Federal Direct Loan, you must complete additional requirements with the U.S. Department of Education before your loan can be disbursed.

Continue to Step Three to complete these requirements.

you accepted a Federal Direct Loan, you must complete the required steps with the U.S. Department of Education before your loan can be disbursed.

New Student Borrowers

If you are borrowing a federal student loan for the first time:

1. Sign in to StudentAid.gov using your FSA ID.

2. Complete your Master Promissory Note (MPN). The MPN is your agreement to repay your federal student loan.

3. Complete Entrance Counseling. Entrance Counseling helps you understand your responsibilities as a federal student loan borrower, including repayment and managing your loan.

Once you have completed these requirements, you have taken the necessary steps to secure your federal student loan.