Texas Extra Credit is a low-cost private student loan developed specifically to help Texas residents pay for college when scholarships, grants, and federal aid just aren’t enough to cover the full cost of attendance.22

By offering competitive fixed interest rates, a variety of repayment terms and options, valuable borrower benefits and an easy-to-use, online application that compares estimated repayment amounts for multiple loan scenarios in real time, we know Texas Extra Credit is the answer you’ve been looking for when it comes to paying for your education.


Texas Extra Credit Education Loan Features

Learn more about Texas Extra Credit’s program features, valuable borrower benefits, and repayment options below.

    Fixed Interest Rates

    Competitive fixed interest rates from 2.79% (with Auto Pay Discount28 ) to 7.60% APR23

    15-Minute Application

    Complete your loan application online in as little as 15 minutes - initial credit decisions are typically made within minutes25

    Compare Loan Scenarios

    Within the application you can compare loan scenarios by selecting different repayment terms, options, and interest rates

    Flexible Loan Limits

    Borrow from $1,000 to $65,000 annually - loans can even be used for past due balances26

    Zero Fees

    No application, disbursement, or origination fees

Borrower Benefits

    Graduation Benefit

    As a way to congratulate you on your hard work, you can get a 0.25% interest rate reduction for graduating with a bachelor's degree or higher.23 27

    Auto Debit Benefit

    Reduce your interest rate by 0.25% when you sign-up for auto debit payments from a savings or checking account.28

    Cosigner Release

    After making the first 24 consecutive monthly payments of principal and interest, you can request to have your cosigner released from the loan.29

    Death Forgiveness

    As an added measure of protection, students and cosigners may be released from any obligation.77

    TPD Forgiveness

    Texas Extra Credit Education loans offer a Total and Permanent Disability (TPD) discharge program.78

Repayment Options

Choose from a 5-year, 10-year, or 15-year repayment term with one of three repayment options.

    Immediate Repayment

    Principal and interest payments begin 30-60 days after the last disbursement.

    Interest-Only Repayment

    Principal is deferred for up to 60 months from the date of the first disbursement while you’re enrolled at least half-time, and interest payments begin 30-60 days after the first disbursement.

    Fully Deferred Repayment

    Principal and interest is fully deferred for up to 60 months from the date of the first disbursement while you’re enrolled at least half-time.

Eligibility Requirements

  • Student borrower must be enrolled at least half time in a degree-granting program (as certified by the school) at an approved school

  • Student borrower and cosigner (if applicable) must be permanent residents of Texas

  • The applicant applying as creditworthy (i.e. the co-signer or the student applying without a co-signer) must provide proof of current income

  • Student borrower and cosigner (if applicable) must be United States citizens/nationals or lawful permanent resident aliens of the United States

  • Satisfactory Academic Progress (SAP) not required

Start Your Application Today

Completing the online loan application takes as little as 15 minutes. And the application makes it easy to invite a cosigner to the process, mix and match loan options, and compare loan scenarios, so you can select a loan that’s right for you.

Here's what you'll need to apply:

  • Bio/Demo Information

  • Employment History

  • Financial Information

  • Reference

And don't worry, if you don't have all of the necessary information to complete your application, we'll save it (securely) for you.


Important Notice

We highly recommend students apply for and utilize all federal student aid programs through the Federal Student Aid portal at StudentAid.gov prior to applying for any private student loan.

You can also reach out to Texas Extra Credit directly:

Texas Extra Credit
M-F, 8am to 5pm CT

Loan Information FAQs

Applying with a cosigner who has good credit and income can help you satisfy the credit criteria and may increase your chances of passing the initial credit review and receiving a lower interest rate. Most students will need a cosigner to qualify. In a cosigned application, both you and your cosigner intend to (a) jointly apply for credit and (b) be jointly liable for the requested loan.

The minimum loan amount is $1,000 and the maximum you can borrow is determined by the school you are attending, but is limited to the lesser of your cost of attendance less other aid or $65,000. The maximum aggregate loan limit is $150,000, inclusive of all student loan debt.

No, there are no origination or disbursement fees.

The initial credit review considers all of the information you and your cosigner (if applicable) provide during the application process, and the information obtained from your credit report. If you pass the credit review, we will need to receive your income verification, school certification, and Applicant Self-Certification Form before final loan approval.

Credit Information FAQs

The credit check serves two main purposes. First, it is used to verify the identity of all people signing the application. Second, it’s used for qualification purposes and helps us offer you the best pricing we can based on your credit history.

Students can apply with a cosigner to help meet creditworthiness guidelines and increase their chances of passing the initial credit review. If a student does not have credit history, we recommend applying with a co-signer who does.

Application Information FAQs

We suggest you exhaust all Federal aid, grants and scholarships before applying for this loan. Completion of the FAFSA however, is not a requirement for the Texas Extra Credit Education Loan.

Personal & Financial Information FAQs

We use your Social Security number to verify your identity and to check your credit history.

U.S. Citizen – A person who was born in the United States, including the lower 48 states, Alaska, Hawaii, Puerto Rico, Guam, and the U.S. Virgin Islands; or who became a citizen through naturalization; or who was born outside the United States to U.S. Citizen parents under qualifying circumstances (derivative citizenship) and who has not renounced U.S. citizenship.

Permanent Resident – Any person not a citizen of the United States who is residing in the U.S. under legally recognized and lawfully recorded permanent residence as an immigrant. Also known as “Permanent Resident Alien,” “Lawful Permanent Resident,” “Resident Alien Permit Holder,” and “Green Card Holder.”

Your permanent address is the location that you consider to be your primary place of residence (like your parents’ or guardian’s address). Your mailing address is wherever you want to receive all of your loan documents.

We need a personal reference as an additional means of contacting you during the servicing of your loan. If we are not able to reach the student or cosigner on the loan we will contact your personal reference.

Your reference can be anyone over the age of 18, as long as he or she is not living at the same address as you. If you are applying with a cosigner, you cannot use him or her as your reference, nor can your reference live at the same address as your cosigner. Lastly, you and your cosigner cannot use the same reference.

Primary sources of income typically reflect employment earnings, but may also come from other sources such as retirement or rental income. Your spouse’s income is not an eligible source of income.

Higher Education Servicing Corporation administers its Texas Extra Credit Education Loan program under the authority provided to it in Chapter 53B of the Texas Education Code, which limits our program to serve only Texas residents.

Repayment Information FAQs

No, you can pay your loan off early regardless of your repayment terms without any penalty. You will only be charged the amount of interest that has accrued on the loan until the day the loan is paid off.

Making payments of any type during the in-school period can significantly reduce the total cost of your loan. If you select a repayment type that requires an in-school payment, all payments must be made on time during the in-school period.