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Loans Borrowing to pay for your education is an important decision that only you and your family can make. An education is expensive, but it is also worth the investment of time, effort, and money. In addition to enriching an individual personally, there is significant research that shows that an education is likely to increase what an individual earns over a lifetime.However, it is important to realize that any money you borrow will have to be paid back. A student loan is a financial obligation that won't go away until it is paid in full. Texas State Technical College (TSTC) - Harlingen will begin processing loans under the William D. Ford Federal Direct Loan Program, also known as Direct Loans. All students borrowing a student loan in 2008-2009 academic year must attend a loan session in person. Types of student loansFederal Direct Loans
Entrance Loan Counseling When you borrow a Federal Direct Student Loan at TSTC, you must complete an entrance loan counseling session in person so that you will know your rights and responsibilities as a borrower. The loan session dates can be found on the following link:
Master Promissory Note Borrowing from the Direct Loan program requires the completion of an Electronic Master Promissory Note (e-MPN). You will need to sign a new Master Promissory Note every academic year that your borrow. In order to electronically sign the Master Promissory Note (e-MPN), you must obtain and Personal Identification Number (PIN).
Repayment IYou will begin to repay your loan at the end of a six-month grace that begins when you graduate, leave school, or drop below half-time enrollment (6 credits).
Exit Loan Counseling Direct loan recipients must complete an Exit Loan Counseling Session before graduating, leaving school, or dropping below half-time enrollment (6 credit). The Exit Loan Counseling ensures that you know your rights and responsibilities as a borrower. The online session will take you about 20 minutes to complete.
Explore your options Remember that student loans are just one way families and students can cover education-related expenses. Be sure to consider other types of aid before taking out loans:
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