HESC is a nonprofit organization dedicated to helping Texas students and their families realize their educational dreams through our Texas Extra Credit Education Loan program. We offer two low-cost loan options:
Use the table below to determine what Annual Percentage Rate (APR) you may qualify for before you apply. Each tab represents one of our repayment options - simply select a tab to view available rates based on our three repayment terms and your estimated credit score.
Start making full monthly payments on the principal and interest once the loan is fully disbursed.
CREDIT SCORE
APR
Excellent
2.80%
Great
3.59%
Good
4.26%
Fair
5.18%
CREDIT SCORE
APR
Excellent
3.56%
Great
4.18%
Good
4.86%
Fair
5.78%
CREDIT SCORE
APR
Excellent
3.74%
Great
4.36%
Good
5.03%
Fair
5.95%
Only pay the interest on the loan while the student is enrolled at least half-time, postponing payments on the principal balance for up to 66 months.
CREDIT SCORE
APR
Excellent
3.26%
Great
3.94%
Good
4.57%
Fair
5.45%
CREDIT SCORE
APR
Excellent
3.86%
Great
4.54%
Good
5.17%
Fair
6.05%
CREDIT SCORE
APR
Excellent
4.04%
Great
4.72%
Good
5.35%
Fair
6.23%
Postpone all repayment up to 66 months, or until the student graduates or drops below half-time enrollment.
CREDIT SCORE
APR
Excellent
3.65%
Great
4.47%
Good
5.35%
Fair
6.69%
CREDIT SCORE
APR
Excellent
4.25%
Great
5.08%
Good
5.98%
Fair
7.34%
CREDIT SCORE
APR
Excellent
4.45%
Great
5.29%
Good
6.20%
Fair
7.58%
Before applying for a Texas Extra Credit Education Loan, we highly recommend you apply for and make use of all federal student aid through the Free Application for Federal Student Aid (FAFSA®) at fafsa.gov. To learn more about the types of federal student aid available, when to apply and eligibility requirements, visit studentaid.gov.
Receive an initial credit decision within minutes of submitting your application
Provide any required documentation to verify the information on your application
If approved, sign your loan application. We’ll then request the school certify the loan
Once certified, provide final loan approval and your funds can be disbursed