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Parent Education Loan

Brighten Your Child's Dreams

When dreams soar high, finances shouldn't be the anchor holding them down. Partnering with the Higher Education Servicing Corporation, First Service Credit Union presents the Texas Extra Credit Education Loan.1 Tailored for Texas residents, this loan bridges the gap when traditional financial aids don't measure up, ensuring that the next academic chapter for your loved one is within reach.
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Help Your Student Pay for College

If you’re a parent, family member or other creditworthy individual interested in paying for a student’s higher education expenses, a Texas Extra Credit Parent Loan may be the answer you’ve been looking for!  With competitive fixed interest rates, a variety of repayment terms and options and valuable borrower benefits, the Texas Extra Credit Parent Loan is a great, low-cost loan option to help a student achieve their higher education dreams without breaking the bank.

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Unveiling the Magic of Texas Extra Credit Parent Loan

  • Fixed Interest Rates

    Enjoy fixed interest rates, spanning from 2.74% (bag an Auto Pay Discount2) to 6.89% APR.3
  • Swift Application

    Spare just 15 minutes. Receive your credit decisions in moments.4
  • Choice at Your Fingertips

    Simulate different loan scenarios—choose terms, options, and rates to find your perfect match.
  • Generous Loan Options

    Opt for amounts between $1,000 and $65,000 yearly, even for past dues.5
  • Fee-Free Experience

    No application, disbursement, and origination charges.

Borrower Bonuses

  • Auto Debit Perk

    Trim your interest by 0.25% with auto debit sign-ups.2
  • Protection Against Loss

    Find solace in our Death Forgiveness clause.6
  • Comprehensive Disability Relief

    Experience our Total and Permanent Disability (TPD) release initiative.7

Education Loans Made Easy

  • Start Your Application!

    Venturing into our online loan application is a breeze, clocking in at a mere 15 minutes. Plus, it’s flexible, allowing you to adjust loan options and evaluate scenarios that fit your goals.
  • Your Repayment,  Your Rules

    Choose your tenure: 5, 10, or 15 years. Then pick from three flexible repayment methods that best align with your financial strategy.
  • Gathering Your Toolkit

    Personal Details
    Work History
    Financial Data
    Student's Academic & Personal Information

Don’t sweat the small stuff. If some pieces are missing, your application's safe with us, ready to resume whenever you are.

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Still Have Questions?

Chat with the Higher Education Servicing Corporation (M-F, 8am to 5pm CT)

Important Notice:

Before exploring private educational loans, explore federal student aids via FAFSA at

Frequently Asked Questions

If you select the Immediate Repayment option or Interest-Only Repayment option, you will be responsible to make payments on the parent loan while the student beneficiary is enrolled in school. If you select the Full Deferment Repayment option, payments will be deferred for up to 66 months while the student beneficiary is continuously enrolled at an approved school at least half-time.
No, you can pay your parent loan off early regardless of your repayment terms without any penalty. You will only be charged the interest accrued on the loan until the day the loan is paid off.
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 United States citizen 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.”
No, this Parent Loan program has no origination or disbursement fees.
Yes, you can borrow funds through our Parent Loan program to cover the cost of housing and meal plans; however, the student’s school must certify your loan application indicating the loan amount you are eligible to receive based on the student’s financial aid/need.
Unfortunately, we do not allow cosigners to be added to a Parent Loan.
No, you are not required to apply for Federal Aid before applying for our parent loan program.
We recommend that you begin the parent loan application process at least 30 days before the semester begins – this should allow for ample time to complete the application and submit any required documentation.
The parent loan approval process can take from 1 - 2 business days depending on how quickly you’re able to submit all required documentation. Once the loan has been approved and you have signed the loan application, we will send the School a request to certify the loan. It normally takes schools anywhere from 8 – 12 business days to complete this certification request depending on the time of the year.
The minimum Parent Loan amount is $1,000 and the maximum you can borrow is determined by the school the student is attending but is limited to the lesser of the student’s cost of attendance less other aid or $65,000.
No, anyone can apply for a Parent Loan on behalf of the student beneficiary.
The initial credit review for a parent loan considers all of the information you 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 documents, signed Loan Agreement and Applicant Self-Certification Form and the Student Consent Form (to be completed by the student beneficiary) before final loan approval.
The parent loan application must be completed online to be accepted for review. If you are unable to electronically sign your application, it can be uploaded, faxed or mailed to our offices.
Primary sources of income typically reflect employment earnings but may also come from other sources such as retirement or rental income.
Your reference can be anyone over 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.
The lender for the Texas Extra Credit Education Loan program is Higher Education Servicing Corp., a Texas-based private, non-profit organization established in 1978 to ensure Texas students and families have access to low-cost education loans in order to achieve a higher education.
The credit check when applying for a parent loan serves two primary 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 based on your credit history.
The Texas Extra Credit Education loan program is only available for Title IV eligible institutions that offer a Bachelor’s degree or higher.
We need a personal reference as an additional means of contacting you while servicing your loan.
We use your Social Security number to verify your identity and credit history.
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.
No, all funds are sent directly to the student beneficiary’s school. Once the student’s tuition and fees (and any other amount they may owe the school) are satisfied, any excess funds will be disbursed to the student by the school.