Graduate Loan Central

Fall loan disbursement/s and financial aid awards may credit students’ accounts starting August 14. We will be receiving loan funds every day over the next few weeks. Receipt of loan disbursements and disbursement of other financial aid awards are dependent on the student being enrolled and completion of all required forms and documents. Check my.tcu.edu–Financial Aid–Requested Information for completion of all requested information. For new students, loan funds will credit approximately 5-7 days after enrollment of classes.

Students can check my.tcu.edu–Student Accounts to review for financial aid credits. Our office will also send notification by email when loan funds have credited to the student’s account.

You can request a check refund in person in the office of Financial Services 817 257-7836 (Sadler Hall Room 104) between 8:30 AM–4:00 PM. Financial Services will not accept check refund requests by e-mail or phone. 

You may also request your check refund by FAX.  Submit your check refund request to Financial Services at FAX # 817 257-7733.  Provide your name, TCU ID# and signature.  Indicate whether you will pick up your refund check in the Financial Services office on Friday or provide a mailing address.      

Please make sure that all charges (bookstore charges, health insurance, etc.) have debited your Student Account before requesting the full credit refund.  For students with tuition awards, please make sure your tuition award is correct for the number of hours you are enrolled.

Student can view their balance as well as debits and credits on their student account at my.tcu.edu–Student Account. 

Students can go to my.tcu.edu–Financial Aid–Requested Information to see if the FAFSA has been received and to see any forms or documents that are requested. We will also notify you by email when forms or documents have been requested.

If you have submitted all your forms, you will be receiving your financial aid award over the course of the next few weeks. My priority is awarding the summer school students first, new students and then returning students. You will be notified to view and accept your financial aid award at my.tcu.edu–Financial Aid.

Yes. The Texas Residency Form is a more detailed form to help determine if you are a Texas resident by the Texas Higher Education Coordinating Board’s standards.

If all requested documents and forms are complete, awarding for summer school will be taking place over the next few weeks.   We will send you notification of your financial aid award when your award has been completed.

 

After you have accepted your loan/s, you will be notified by our office if you need to guarantee your loans through the Loans By Web process.

After acceptance of your award and completion of any required forms or loan processes, the summer disbursement/s may be applied to the student’s account by mid-May (the earliest funds can be received).  Our office will notify you when the loan funds have been received and credited to your Student Account.  You can also review your Student Accounts at my.tcu.edu for the credit of the loans.

 

Certain requirements have to be met before we request the lender to send the funds at the appropriate time.  The student must be enrolled and all requested information must be completed.  Please make sure you have completed all requested information on my.tcu.edu–Financial Aid–Requested Information. 

We do not have access to the status of your MPN.  You will need to contact your lender/servicer regarding the status of your loan and MPN.

 

Fall loan disbursement/s may credit the student’s account the week prior to the start of the Fall semester. Receipt of loan disbursements is dependent on the student being enrolled and completion of all required forms and documents.

This loan is available for Graduate and Professional students only.  FAFSA is required, the student must be enrolled in at least 3 hours, and students must borrow Direct Unsubsidized Loan eligibility before Graduate PLUS loans will be certified.  The maximum amount for the Graduate PLUS loan is TCU’s cost of attendance minus other financial aid.  Federal Direct Graduate PLUS loans have a 7.6% fixed simple interest rate, and a 4.264% fee deducted from all disbursements.  The U.S. Department of Education will check your credit for eligibility.  Interest accrues immediately, but payments are not required as long as the student is enrolled at least half-time.

The Additional Loan Eligibility amount indicates the maximum amount a student is able to apply for during that academic year, based on TCU’s cost of attendance and the other aid the student is receiving.  Students do not have to borrow the maximum.

Federal regulations define credit eligibility for a Grad PLUS Loan as being a borrower who has no “adverse credit.”  This term normally means that the applicant has no debt repayment account that is 90 days or more delinquent (including charge offs/write-offs and unpaid collection accounts), has not had any debt discharged in bankruptcy (Chapters 7, 11, or 12) in the last 5 years, and has not been in default on any debt (no foreclosure, voluntary surrender, default claim paid, tax lien, repossession, wage garnishment, or write-off) in the last 5 years. 

The US Department of Education offers an option to add an endorser (like a cosigner) to your PLUS Loan if you aren’t approved on your own credit.  An endorser is a credit-worthy person who will sign the loan app with the PLUS borrower and take on equal liability for the PLUS Loan debt.

 

Any adult who meets credit requirements can endorse a PLUS Loan if the borrower does not meet the credit requirements on his/her own.  Spouses are not eligible endorsers.

 

Students can apply for private education loans, which are credit-based and have variable interest rates. (Lenders require a minimum of three years positive credit history and three open credit accounts or a credit worth co-signer.).

The Direct Graduate PLUS Loan application process is online and utilizes an electronic signature. Borrowers must have a FSA ID to e-sign the Grad PLUS Loan application.  Funds for all Grad PLUS loans will be delivered to TCU electronically and posted to your TCU student account.