Students with backpack in classroom

Pay for College Your Way

With Fixed Rates Ranging From

3.56%* - 7.60% APR1

*with Auto Pay discount6

Apply for a Student Loan

Helping Texans Pursue and Achieve A Higher Education

With a Texas Extra Credit Student Loan by Higher Education Servicing Corporation

Our Private Student Loan is a low-cost option for students who may or may not require a cosigner for credit approval.

As a Texas-based nonprofit, our Texas Extra Credit Student Loan is designed specifically to help Texas residents pay for their college tuition and expenses when scholarships, grants, and federal student loans just aren't enough.

Before applying for a Texas Extra Credit Student Loan, we highly recommend you apply for and utilize all federal student aid through the Free Application for Federal Student Aid (FAFSA) at To learn more about the types of federal student aid available, when to apply and eligibility requirements, visit

Program Features

An Education Loan Made for You

Green icon of money

Low-Cost Private Loan Program

Designed to help Texas residents pay for their college costs.

Green icon of percent sign

Competitive Fixed Interest Rates

With a variety of repayment terms, options and valuable borrower benefits.

Icon of computer monitor in green

Initial Credit Decision in Minutes2

Short and easy online application.

Green icon of data table

Compare Loan Scenarios

Compare loan scenarios in real-time by selecting different repayment terms and options.

Green icon of arrows

Loan Limits3

Borrow from $1,000 to $65,000 annually.

Icon of piggy bank in green

Zero Fees

No application, disbursement or origination fees.

Plus, You Get All of These Additional Features and Options

Invite a Cosigner With Just a Few Clicks

Loans Can Be Used for Past Due Balances4

Open to Undergraduate & Graduate Students

Total & Permanent Disability Forgiveness8

Deferment & Forbearance Options

Death Forgiveness9

Graduation Benefit5

0.25% discount for student borrowers who achieve a bachelor’s degree or higher

Auto Pay Discount6

0.25% discount for making automatic payments through a checking or savings account

Cosigner Release7

Option available after the first 24 consecutive, on-time monthly payments have been made

Repayment Options

Select The Repayment Option That’s Right For You

Our Texas Extra Credit Students Loan offers a 10 or 15 year repayment term along with three different repayment options that you can choose from.

Immediate Repayment

Principal and interest payments begin 30 - 60 days after the last disbursement

  • Minimum monthly payment is $50
  • If you select this repayment option, future opportunities for deferment, including additional deferment for re-enrollment, are not offered
  • No 6 month grace period option after you graduate or cease to be enrolled at least half-time

Interest-Only Repayment

Principal is deferred for up to 60 months from the date of the first disbursement while you’re enrolled at least half-time

  • Interest payments begin 30-60 days after the first disbursement
  • Principal and interest payments begin 6 months after you graduate or cease to be enrolled at least half-time
  • Additional principal deferment option available for re-enrollment

Full Deferment

Principal and interest is fully deferred for up to 60 months from the date of the first disbursement while you’re enrolled at least half-time

  • Repayment begins 6 months after you graduate or cease to be enrolled at least half-time
  • Additional principal and interest deferment option available for re-enrollment

Eligibility Requirements

Qualifying For Our Student Loan

Before starting the application, be sure that you meet all of the following requirements to be eligible for a Texas Extra Credit Student Loan.


The student must be enrolled at least half time in a degree-granting program (as certified by the school) at an approved school

Resident of Texas

The borrower and cosigner, if applicable, must be permanent residents of Texas– the student can attend any approved college or university throughout the United States

Current Income

The applicant applying as creditworthy must provide proof of current income


Must be United States citizens/nationals or lawful permanent resident aliens of the United States

Frequently Asked Questions

Loan Information & Details

Why does a cosigner help?

Applying with a cosigner who has good credit and income can help you satisfy credit criteria and may increase your chances of passing the initial credit review and receiving a lower interest rate. Most students will need a cosigner to qualify. In a cosigned application, both you and your cosigner intend to (a) jointly apply for credit and (b) be jointly liable for the requested loan.

Why can't I find my school on the approved school list?

The Texas Extra Credit Education loan program is only available for Title IV eligible institutions that offer a Bachelor’s degree or higher.

Can I apply for funds to pay for housing and meal plans?

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.

Can I refinance all my loans into one once I graduate?

We currently don't have a refinance program, but we're working on it! Make sure to check back soon.

How much can I borrow?

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.

Are there out-of-pocket fees for obtaining this loan?

No, there are no origination or disbursement fees.

Who is the lender for the Texas Extra Credit Education Loan program?

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.

Credit History & Information

Why is a credit check necessary?

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 us offer you the best pricing we can based on your credit history.

What factors are used in the initial credit review?

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, we will need to receive your income verification, school certification, and Applicant Self-Certification Form before final loan approval.

What if I have no credit history?

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.

Application Details & Instructions

Do I need to apply for Federal Aid before applying for this loan?

We suggest you exhaust all Federal aid, grants and scholarships before applying for this loan. Completion of the FAFSA however, is not a requirement for the Texas Extra Credit Education Loan.

What options do you offer to complete the loan application?

The loan application must be completed online to be accepted for review. If you are unable to electronically sign your application, it can be faxed or mailed to our offices.

How long will it take to complete the application process?

The 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.

How early should I apply?

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.

Personal & Financial Information

What is the difference between a U.S. Citizen and a Permanent Resident?

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 citizen of the United States 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."

Will the funds be deposited into my personal account?

All funds are sent directly to your school. Once your tuition and fees (and any other amount you may owe the school) is satisfied, any excess funds will be disbursed to you by the school.

What is the difference between permanent address and mailing address?

Your permanent address is the location that you consider to be your primary place of residence (like your parents' or guardian's address). Your mailing address is wherever you want to receive all of your loan documents.

Why do you need a personal reference from me?

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.

Why is my Social Security number needed?

We use your Social Security number to verify your identity and to check your credit history.

Who can I use as a reference?

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.

What qualifies as income?

Primary sources of income typically reflect employment earnings, but may also come from other sources such as retirement or rental income.

Why is the program only offered to Texas residents?

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.

Loan Repayment

Is there a penalty for pre-payment or paying the loan off early?

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.

Which repayment type should I choose?

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.

Get Started Today!

Apply for a Student Loan
image of girl and boy at school

Building Financial Confidence

Making smart financial decisions is important, but not always easy. That's why we offer free financial tools and resources to help you succeed in all stages of your life.

green piggy bank icon

Making Smart Financial Decisions

Learn how you can take greater control of your finances and make smarter financial decisions.

green checkmark in box icon

Planning for Life Milestones

Explore ways you can prepare for some of life's biggest moments like owning a home, planning for retirement and more.

green piggy bank icon

Financing Your Education

Are you interested in going back to college or learning more about the options you have to pay for college? If so, check out Types of Aid under Topics.

Get a head start on planning for college by downloading our Financial Aid Checklist!

Learn More