Financial Aid Office

Alternative Sources of Financial Aid

We put together a variety of sites that provide information related to the financial aid field. Financing a college education can appear a formidable task but there are sources of financial aid programs for all who want to obtain a college education. Some of the programs are the traditional financial aid programs from federal, state and institution while others are "non-traditional" in nature. They range from service-related obligations, to private loan sources, to pre-paid programs.

Alternative Educational Loans

Many financial institutions provide long-term educational loans for students who have exhausted their eligibility or who are ineligible to borrow through Federal loan programs, as well as those who need additional aid to meet their educational costs. These loans are issued based on the creditworthiness of the borrower and/or co-borrower. Students are encouraged to first exhaust all possibilities for Federal and state financial aid programs before seeking alternative loans.

Selecting an alternative loan program is a personal decision and borrowers are encouraged to compare loan programs based on:

•  interest rates

•  disbursement/repayment loan fees

•  loan limits (minimum and maximum)

•  repayment terms and grace periods

•  co-borrower requirements

•  citizenship status

Borrowers should research several lenders that will best meet their needs and circumstances before submitting an application.

Please note the following when seeking an alternative educational loan:

1. Review the loan program's general eligibility requirements to determine if the program meets your specific circumstances:

   •  Undergraduate or graduate student

   •  UTD admission status: degree*, certificate, non-degree student

   •  Enrollment level: (SEE BELOW )**

   •  Satisfactory Academic Progress (some lenders require you to meet standards set by the Financial Aid Office).

2. Follow all loan application instructions and respond to your lenders requests for further information to expedite your application. Include UTD (Federal School Code 009741) in your list of schools.
3. When your lender approves your credit and receives your promissory note, your lender will request information from the UTD Financial Aid Office.
4. The UTD Financial Aid Office will provide information regarding your eligibility (loan period and amount, disbursement dates, admission status, and enrollment level, etc.) directly to your lender.
5. Alternative loan funds received electronically from your lender will be disbursed to your UTD Student Account if all loan eligibility requirements are met at the time of disbursement. If your funds are received via paper check, instructions for picking up your paper loan check will be emailed to your UTD email address.

* Students taking courses in pursuit of the Pre Health Program or CPA Certification only, may apply for alternative loans that do not require school certification.

** UTD Enrollment Level depends on the following number of semester credit hours (SCH) you are enrolled each semester/summer session:

           Enrollment Level      Graduate SCH    Undergraduate SCH

                 Full time                   9 or more               12 or more

                  ½ time                           5-8                          6-11

                < ½ time                         1-4                           1-5

Other Sources of Financial Aid

	College for Texans Paying for College You will find information on the financial aid process and how to apply for financial aid, tips on reducing the cost of going to college, general information on how to save money for college and  information on federal  tax credits and deductions available to students and/or parents.
	Federal Student Aid Information Center The Student Guide The Student Guide is the most comprehensive resource on student financial aid from the U.S. Department of Education. Grants, loans, and work-study are the three major forms of student financial aid available through the federal Student Financial Assistance Programs. You may print the Guide or you may request a copy of the Guide at the number below. 1-800-4-FED-AID (1-800-433-3243)
	The Texas Tomorrow Fund A prepaid college tuition program that allows you to pay tomorrow's college at today's prices. The Texas Tomorrow Fund pays for tuition and required fees. Required fees are all those fees that every student has to pay as a condition of enrollment into a college or university, regardless of major or program of study.
	UTD Tuition and Fees Short Term  Loans UTD offers students needing short term assistance to pay for tuition and fees. Students may borrow the full cost of tuition and fees for the term at a simple 5% annual interest if enrolled at least half-time, or a simple 10% interest if enrolled less than half-time. Repayment of the full amount borrowed must occur no later than 60 days from when the loan was issued to the student for a long term. Summer tuition and fees short term loans have a 30 days repayment timeframe. A late fee of $30 per month, up to $90 maximum, will be accessed by the Bursar's Office. Students owing a short term loan from one semester will have their records blocked by the Bursar's Office until all funds are repaid. International students borrowing through this program can not borrow the Health Insurance Fee. The Tuition and Fees Short Term Loan program will not cover such fees as library fines, traffic tickets. Application for the Tuition and Fees Short Term Loan Program are available in the Financial Aid Office.