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Financial Aid - Loan Information

After you file the FAFSA, you will receive a letter prompting you to download additional documents. Once you have returned those documents to our office, and they have been processed, we will award you all of the student loan funds that you are eligible for.

Tyler Junior College Financial Aid Office offers these types of loans to help students cover educational expenses:

Subsidized Stafford Loan - The Federal Stafford Loan is based on financial need. If you qualify for this loan, the government pays the interest for you during the following periods:
- While you are enrolled in school at least half time
- During the six month grace period after you graduate or drop to less than half time enrollment
- During authorization periods of deferment

Unsubsidized Stafford Loan - The Federal Unsubsidized Stafford Loan is not based on financial need. The government does not pay the interest on your behalf. You are responsible for paying all of the interest that accumulates while you are in school and during periods of grace and deferment. You have the option of making interest payments while you are still in school. Or you may defer interest payments while you are still in school.

Parent Plus Loan - The Federal Parent Plus Loan allows parents of dependent undergraduates to borrow up to the entire cost of attendance, minus any other financial aid received. This loan is not based on financial need and is awarded regardless of income level. However, a good credit history is required. Repayment on this loan begins within 60 days after the loan has been fully dispersed. Parents may also opt to postpone making payments until six months after their son or daughter graduates from college or drops below half time attendance. For Parent Plus loans disbursed on or after 7/1/2008 the interest rate will be a fixed interest rate of 8.5%.

If you would like to apply for a Parent Plus Loan please go to https://lbw.tgslc.org/LBW/start.do.

If a parent does not qualify for this loan the student becomes eligible to receive up to $4,000 in additional Unsubsidized Loan funds. The student does not have to apply for this additional loan. Upon receipt of the Parent Plus Loan denial the student will automatically be awarded the additional funds. Once awarded, the student will be required to go to Apache Access to accept their loan. Also, the student may be required to return to Loans by Web to complete an MPN.