Student Education Loans

Federal Direct Unsubsidized Loan

To apply for a Direct Loan, students must submit the Free Application for Federal Student Aid (FAFSA). The unsubsidized loan is not based on financial need and is available to all eligible students, regardless of income. Interest accrues from the date of the first disbursement. Students who are first-time borrowers must complete an online Entrance Counseling and an Unsubsidized Loan Master Promissory Note (MPN) at the Federal Student Aid website.

Lender: U.S. Department of Education

Interest Rate: Fixed at 5.31 percent for loans disbursed July 1, 2016 – June 30, 2017; Fixed at 6 percent for loans disbursed July 1, 2017 – June 30, 2018

Origination Fee: 1.066 percent (e.g., if $2,000 is borrowed, $1,979 will be disbursed to the school)

Repayment: Begins 6 months after graduation, withdrawal, or less than half-time enrollment. Standard repayment is 10 years following grace period, though other repayment options may be available.

For more information, please visit the Federal Student Aid website.

Federal Direct Graduate PLUS Loan

To apply for a Direct Loan, students must submit the Free Application for Federal Student Aid (FAFSA). Unlike other federal student loans, there is a credit check requirement – the student cannot have an adverse credit history. Interest accrues from the date of the first disbursement. Students who are first-time borrowers must complete an online Entrance Counseling and a Graduate PLUS Loan Master Promissory Note (MPN) at the Federal Student Aid website.

Lender: U.S. Department of Education

Interest Rate: Fixed at 6.31 percent for loans disbursed July 1, 2016 – June 30, 2017; Fixed at 7 percent for loans disbursed July 1, 2017 – June 30, 2018

Origination Fee: 4.264 percent (e.g., if $2,000 is borrowed, $1,915 will be disbursed to the school)

Repayment: Begins 6 months after graduation, withdrawal, or less than half-time enrollment. Standard repayment is 10 years following grace period, though other repayment options may be available.

For more information, please visit Federal Student Aid website.

College Access Loan (CAL)

Students must submit the Free Application for Federal Student Aid (FAFSA). The College Access Loan is a non-need based state loan program available to Texas residents. Interest accrues from the date of the first disbursement. Effective April 25, 2017, this loan requires a minimum Experian VantageScore of 650 for credit approval. The student is eligible to apply for the yearly amount that is offered on their UT Southwestern financial aid award.

Lender: Texas Higher Education Coordinating Board (THECB)

Interest Rate: Fixed at 6.60 percent for applications beginning April 25, 2017

Origination Fee: Effective April 25, 2017, an origination fee will no longer be assessed for all approved CAL borrowers.

Repayment: Begins 6 months after graduation, withdrawal, or less than half-time enrollment. Principal balances under $30,000 have up to a 10-year repayment period with monthly payments of $50. Principal balances of $30,000 or more have a repayment period up to 20 years. Postponements of loan repayment and income-sensitive or graduated repayment schedules are available.

Application Instructions

Student must complete the application EACH year the loan is awarded.

  • To apply, go to HHLoans website
  • Effective April 10, 2017, all borrowers will be required to create a new online account in order to apply for a loan or to view their online account information.
  • Under school name, select UTSWMC Dallas
  • Once you complete the online application, it is important to e-sign your promissory note. Applicants and prospective cosigners who do not have a Texas driver’s license will be directed to print, sign and date the promissory note, which must be mailed to THECB as soon as possible.
  • When you have submitted your online application, you MUST inform our financial aid office via financialaid@utsouthwestern.edu, and we will complete the loan certification online via THECB’s website.

Once the school has completed the online certification, the lender (THECB) will send the student borrower a Final Loan Disclosure by mail for review and acceptance. The student can electronically accept the terms of the disclosure by logging in to their account at the HHLoans website.

Loan funds will not be released to the school by THECB until the student accepts the terms of the final disclosure. Once accepted, loan funds are generally sent to the school in 11-14 business days.

The student borrower can check their loan status by logging in to their account at the HHLoans website.