Young man holding books and looking at his phone

Student Loan Refinancing

Redefine Your Student Loan

With fixed rates ranging from 3.95% (with Auto Pay) to 9.16% APR!1 Refinancing your eligible federal and/or private student loans has never been easier!

Start My Application

Greater Financial Flexibility Starts Now!

Lower rates mean more money for what matters most—whether that’s saving, investing or simply enjoying life. With competitive fixed interest rates, no application fees, flexible repayment terms and valuable borrower benefits, the Texas Extra Credit Refinance Loan offers a smart, affordable way to take control of your student debt.2 Plus, you can view your interest rate eligibility in minutes with their easy prequalification process without affecting your credit!

Apply Now

Program Features

  • Apply Without Risk

    No-risk prequalification (no credit impact)

  • Choose Your Amount

    Refinance anywhere between $7,500 and $200,000

  • Fixed Interest Rates

    Fixed interest rates ranging from 3.95%(with auto pay)-9.16% APR

  • Flexible Terms

    Choose betwen 5, 10, or 15-year terms

  • Immediate Repayment

    Don't wait for repayment processing3

  • Simple Online Loan Application

    The application process takes as little as 5 minutes to complete

  • Auto Debit Discount

    0.25% interest rate reduction with auto debit payments4

  • Total & Permanent Disability Forgiveness

    Forgiveness available in the event of total and permanent disability5

Eligible Loan Types

Federal Family Education Loan Program (FFELP) Loans

  • Subsidized
  • Unsubsidized
  • Parent PLUS
  • Grad PLUS
  • Consolidation
  • Perkins
  • Health Education Assistance Loan (HEAL)
  • Supplemental Loans for Students (SLS)
  • Health Professions Student Loan (HPSL)
  • Spousal Consolidations

Direct Loan (DL) Program Loans

Undergraduate and Graduate Loans including:

  • Subsidized
  • Unsubsidized
  • Parent PLUS
  • Grad PLUS
  • Consolidation Loans

Private Education Loans

  • Student Loans
  • Family/Parent/Sponsor Loans
  • Graduate Loans
  • Refinance Loans
  • Consolidation Loans

Eligibility Criteria

  • All loans to be refinanced must have been fully disbursed to a Title IV institution of higher education within the United States, be considered a qualified education loan6 and have been used to cover qualified higher education expenses.7
  • The applicant must have earned a bachelor’s degree or higher from a Title IV institution of higher education.
  • The applicant must be a permanent resident of Texas.
  • The applicant must be a United States citizen/national or lawful permanent resident alien of the United States.
  • The applicant must be at least the age of majority at the time of the Refinance Loan Application based on the Applicant’s state of residence (i.e., 18 years old in Texas).
  • The applicant must be currently employed, unless retired, have a positive income of at least $50,000, and submit verification of current stated income claimed in the application.

Start Your Application Today

Completing the online loan application takes as little as 5 minutes. And with Texas Extra Credit’s risk-free prequalification process, it’s easy to see what rates you may qualify for—helping you choose the loan that’s right for you and your goals!

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.


Apply Now

An HESC Loan

Higher Education Servicing Corporation (HESC) is the lender and loan originator for the Texas Extra Credit Education Loan program(s).  HESC is responsible for all private education loan processing and communications with the borrower(s) throughout the application process. 

1-877-817-9158
info@hescloans.com

Important Notice:

We highly recommend students apply for and utilize all federal student aid programs through the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov prior to applying for any private student loan.

Frequently Asked Questions

No, there are no origination or disbursement fees.
Yes, you can borrow funds through our loan program to cover the cost of housing and meal plans; however, your school must certify your loan application indicating you are eligible to receive the loan amount requested.
We suggest you exhaust all Federal Aid, grants and scholarships before applying for this loan. However, completion of the FAFSA is not a requirement before applying for a Texas Extra Credit Student Loan.
In general, interest will capitalize at the end of the grace period following an initial deferment or following any subsequent deferment period, if any, or forbearance unless otherwise noted in the Credit Agreement. For Borrowers that have elected the “Immediate Repayment” option, interest that accrues between the first disbursement and the final disbursement will be capitalized the day after the final disbursement. For Borrowers who have elected the Interest Only or Full Deferment Repayment Option, interest that is accrued and unpaid will be capitalized as of the last day of the grace period. Interest is also capitalized upon default. In all cases, capitalized interest is thereafter considered part of the principal, and interest will accrue on the new principal balance. Complete interest capitalization rules are contained in the Credit Agreements.
We recommend that you begin the 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 approval process can take from 1 or 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, HESC sends your school a request to certify the loan. It normally takes schools anywhere from 8 to 12 business days to complete the certification depending on the time of the year.
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.
Higher Education Servicing Corporation reviews interest rates on a quarterly basis to determine if changes are needed; however, they hold the right to review/update interest rates at any time.
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.
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, you will need to supply income verification, school certification, and Applicant Self-Certification Form before final loan approval.
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 cosigner who does.
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 who is not a citizen of the United States and 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 parent's or guardian's address). Your mailing address is wherever you want to receive all of your loan documents.
The loan application must be completed online to be accepted for review. If you are unable to sign your application electronically, it can be faxed or mailed to HESC or uploaded through your online account with HESC.
Primary sources of income typically reflect employment earnings, but may also come from other sources such as retirement or rental income.
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.
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.
The lender for the Texas Extra Credit Education Loan program is Higher Education Servicing Corporation, a Texas-based private, nonprofit organization established in 1978 to ensure Texas students and families have access to low-cost education loans in order to achieve a higher education. Higher Education Servicing Corporation may sell its loans to its sister organization North Texas Higher Education Authority, Inc. Loans sold to North Texas Higher Education Authority, Inc. will continue to be serviced by Higher Education Servicing Corporation.
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 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.
Applying with a cosigner who has good credit and income can help you satisfy our credit criteria. It may even help you increase your chances of passing the initial credit review and ultimately receive a lower interest rate.
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 in determining the interest rate to be offered based on your credit history.
Your Social Security number is used to verify your identity and to check your 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.
All funds are sent directly to your school. Once your tuition and fees (and any other amount you may owe the school) are satisfied, any excess funds will be disbursed to you by the school.
[1]
The current fixed interest rates range from 4.20% to 9.18% in effect as of 8/26/2025. The fixed interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the applicant’s credit history (2) the repayment term selected, and (3) other information provided on the online loan application. If approved, the applicant will be notified of the rate qualified for within the stated range. APRs range from 3.95% (with Auto Pay Discount4) to 9.16%. Lowest rates are only available for the most creditworthy applicants. The APR reflects the estimated total cost of the loan, including upfront fees, accruing interest and the effect of capitalized interest. The lowest APR example is based on a $10,000 loan disbursed in a single transaction, a 5-year repayment term (60 months), an immediate repayment plan, monthly principal and interest payments of $183.94 and has a 3.95% interest rate which includes a 0.25% interest rate reduction for payments via auto pay4. The highest APR example is based on a $10,000 loan disbursed in a single transaction, a 15-year repayment term (180 months), an immediate repayment plan, monthly principal and interest payments of $102.50 and has a 9.18% interest rate. The fixed interest rate assigned to a loan will never change except as required by law or if you request and qualify for the ACH reduction benefit.
[2]
The prequalification process is based on review and validation of the information provided during the initial application process and the information obtained from the consumer reporting agency. The prequalification process will not affect the applicant’s credit score. If the applicant passes the prequalification process, they will be required to provide acceptable documentation including loan payoff amounts from their current servicer(s) and/or income verification before the final loan approval. Actual interest rates will be determined once a hard credit pull is conducted. Please be aware that if an applicant intends to refinance federal education loans, they will no longer qualify for potential loan forgiveness through the Department of Education or the income-based repayment option. Please be aware the applicant will also lose special benefits such as public service loan forgiveness and economic hardship programs if they refinance federal education loans.
[3]
Immediate repayment of principal and interest (“Immediate Repayment”) — The first payment of principal and interest is due within thirty (30) to sixty (60) days after the date of the last disbursement.
[4]
An interest rate reduction of 0.25% is available for borrowers who make monthly electronic funds transfer (EFT) payments of principal and interest from a savings or checking account. To qualify, the borrower needs to arrange with the loan servicer to automatically deduct monthly principal and interest payments from a bank account. The automatic payment benefit will discontinue and be lost for the remaining repayment period in the event any three payments are returned for insufficient funds over the life of the loan. This benefit may be terminated during deferment and forbearance periods, but can be re-established if the borrower reapplies at the end of the deferment or forbearance period.
[5]
In the event a Borrower becomes Totally and Permanently Disabled, the Borrower, or his/her representative, may contact the Servicer by phone or mail to request information regarding the Lender’s Total and Permanent Disability (TPD) discharge. Any Loan that has not previously become a charged off Loan or that is not currently in default may be discharged due to the Borrower’s Total and Permanent Disability, as defined by the Lender’s TPD Terms and Application. The definition of TPD, the application form for a TPD discharge, the required supporting documentation, and other terms, limitations, conditions and requirements for a TPD discharge (“TPD Terms”) can be obtained by contacting the Lender or Servicer by phone or mail. The Servicer must receive a completed TPD Application within the timeframe stated within the application that complies with the requirements set forth by the Lender for a Loan to be discharged. If the Borrower meets the TPD requirements set forth by the Lender, the Servicer shall write down any outstanding principal and accrued interest balance on the Loan to a zero balance. For additional information regarding TPD or to request an application, contact the Loan Servicer.
[6]
Qualified education loans are loans taken out by an individual solely to pay qualified higher education expenses. The loan must be for the individual, their spouse or any dependent claimed on the individual’s tax return as of the time the debt was incurred. The student’s educational expenses must be paid or have incurred within a reasonable period of time before or after the loan was taken out and the education expenses paid by the loan must be for a period of time when the recipient was an eligible student.
[7]
Qualified higher education expenses are amounts paid for tuition, fees, books, supplies and other related expenses for an eligible student that are required for enrollment or attendance at an eligible educational institution.