Graduate Student Loans
For Texas Residents
Our Texas Extra Credit graduate student loan program is designed to help Texas residents attending one of our nationwide approved schools pay for their graduate school expenses when scholarships, grants, federal loans, or other financial aid options just aren’t enough.
Fixed rates ranging from 2.74%*-6.89% APR
*with Auto Pay Discount6
About Our Graduate Student Loan Program
Graduate Student Loans
To be eligible for our Graduate Student Loan program, you must be a masters, doctoral, law or professional student enrolled at least half time at an approved school in an advanced degree-granting program.
Additional Program Details
Borrow from $1,000 - $65,000 annually.
No origination, disbursement or application fees.
Choice of 5, 10 or 15 year repayment term and three repayment options.
Borrower must meet certain income and credit criteria to be eligible. A cosigner can be added to the application to meet the income and credit requirements.
Graduate Degree Programs
Our Graduate Student Loans can help finance your education in numerous graduate degree programs and fields of study with low-cost options, no fees and flexible repayment plans.
Master’s Degree
For graduate students working on their master’s degree in business (MBA), the arts (MA), science (MS), education (MEd), social work (MSW), finance (MSF), and more.
Medical Degree
For graduate students pursuing a degree in healthcare-related fields such as medicine (MD), nursing (DNP), dental (DDS), veterinary medicine (DVM) and more.
Law Degree
For graduate students seeking a degree in the field of law including Juris Doctor (JD), Master of Laws (LLM), Doctor of Juridical Science (SJD), and more.
Doctorate Degree
For graduate students seeking the highest academic credential in a field of study such as philosophy (PhD), education (EdD), engineering (EngD), social work (DSW), and more.
Graduate Student Loan Repayment Options
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.
Principal is deferred for up to 60 months from the date of the first disbursement while you’re enrolled at least half-time.
Interest-Only Repayment
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 options available for re-enrollment.
Principal and interest are fully deferred for up to 60 months from the date of the first disbursement while you’re enrolled at least half-time.
Full Repayment
Repayment begins 6-months after you graduate or cease to be enrolled at least half-time.
Additional principal deferment options available for re-enrollment.
How Our Graduate Student Loan Application Process Works
Applying for a graduate student loan with HESC is a straightforward process. Simply complete the online application on our website and submit the required documents. A co-signer may be required as we review credit history and income to ensure we can offer you the best interest rate.
Apply
Start your loan with our easy online application.
Submit
Receive an initial credit decision within minutes of submitting your application.
Verify
Provide any required documentation to verify the information on your application.
Sign
If approved, sign your loan application. We’ll then request the school certify the loan.
Approve
Once certified, provide final loan approval and your funds can be disbursed.
Why Choose HESC?
HESC is motivated by putting people first. We do more than help Texas residents pay for college – we help them prepare for it with our outreach programs.
Our customer-centric focus and agile operating model allows us to quickly answer borrowers’ questions or make decisions.
We’ve been in business since 1978. Our longevity means stability.
Our employees bring a caring, helpful approach to our interactions with each other and each borrower.
We strive to offer some of the lowest interest rate loans in Texas and provide significant benefits to help our borrowers repay their loans.
Contact Us Today!
When you borrow from HESC, you have a partner dedicated to your success. We're committed to Texas graduate students and ensuring you have the flexible financial resources needed to achieve your goals.
Have questions or need assistance with your loan application? Contact us today! Our team is here to support you and help you make informed decisions about your loan options.
Private or Federal Graduate Student Loans?
Private Graduate Student Loans
Private graduate loans are ideal for a borrower who may not qualify for federal aid or need additional funding if their grant, scholarship and federal aid aren’t enough to cover their expenses. Private graduate loans may be disbursed more quickly than federal loans, providing faster access to loan funds.
Federal Graduate Student Loans
Federal graduate loans are funded by the U.S. government. These loans have borrowing limits that may not cover the full cost of education, especially for graduate or professional programs. See studentaid.gov for additional details.
Federal Loan Options Available for Graduate Students:
Direct Unsubsidized Loans: Available to graduate and professional students regardless of financial need. Interest accrues during all periods (including while in school, in deferment, in forbearance, or in repayment) of a direct unsubsidized loan.
Direct PLUS Loans for Graduate and Professional Students: Available to graduate and professional students, and requires a credit check. To qualify, the borrower must not have an adverse credit history. Direct PLUS loans may have higher interest rates than other federal or private loans. Currently, Direct PLUS loans have a 9.08% fixed interest rate and borrowers are charged a 4.228% origination fee for each loan disbursement.
Financial Aid for Graduate School
Securing financial aid for graduate school involves understanding the various options available. Before applying for a loan with HESC, we highly recommend applying for and utilizing all federal student aid through the Free Application for Federal Student Aid (FAFSA) at fafsa.gov. To learn more about the types of federal financial aid available to graduate students, when to apply and eligibility requirements, visit studentaid.gov.