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Other Loans

Federal Direct Graduate PLUS Loan

This program is offered by the federal government and is available to students working on a graduate degree enrolled at least half time. Eligibility is not determined on the basis of need. Entrance and exit counseling required.

Award amounts are limited to the student’s cost of attendance minus other financial aid (including any subsidized and unsubsidized Stafford Loan eligibility).

Graduate Stafford Loan Limits
Annually $20,500 per year unsubsidized loans.
Aggregate $138,500 (includes undergraduate loans, no more than $65,500 can be subsidized)

Federal Perkins Loan

The Federal Perkins Loan is a campus-based federal program, and funding is limited. Award amounts are limited to award year and aggregate maximums.

  • Students must complete the FAFSA to determine eligibility for the Federal Perkins Loan because it is a need-based program. 
  • Students must enroll at least half time.
  • Priority is given to applicants with exceptional need and whose program of study may lead to possible loan cancellation benefits.
  • The interest rate is 5 percent and does not accrue while the student is enrolled at least half time.
  • Students must complete Perkins entrance and exit counseling as required by the program.
  • Repayment begins nine months after the student ceases half-time enrollment.
  • In addition to deferment benefits, loan cancellation for employment in designated teaching and public service areas is offered. 

Perkins Loan Master Promissory Note

The Master Promissory Note is used to finalize your awarded Perkins Loan. Funds will not be disbursed until the completed promissory note is returned to the Financial Aid Office.  Faxes cannot be accepted as we must have the original signed document. Please contact the Financial Aid Office to request the Perkin’s Master Promissory Note at 325-942-2246.

Perkins Undergraduate Loan Limits
Annually Up to $5,500 per year
Aggregate $27,500 maximum
Perkins Graduate Loan Limits
Annually Up to $8,000 per year
Aggregate $60,000 maximum

State Loans

College Access Loan (CAL) Program

College Access Loans are offered through the Texas Higher Education Coordinating Board (THECB) and are designed to help students whose families are experiencing difficulty meeting the Expected Family Contribution (EFC) toward educational costs. Students who apply for the CAL program must meet these requirements:

  • Be a Texas resident.
  • Be enrolled at least half time (six hours) in a course of study leading to an associate, bachelor’s, graduate or higher degree.
  • Meet and maintain ASU’s satisfactory academic progress.
  • Receive a favorable credit evaluation or provide a co-signer who has good credit standing and meets other requirements as outlined by the THECB.
  • Complete a Free Application for Student Aid (FAFSA).

Students do not have to demonstrate need, but the amount of federal aid that students are eligible for must be deducted from the published Cost of Attendance (COA) to determine the CAL loan amount.

The THECB no longer accepts paper applications. Visit the THECB website to apply for the CAL program or to view the CAL program fact sheet regarding repayment terms, interest rates and origination fees.

Texas B-on-Time Loan Program

This state-funded program was developed to provide non-interest bearing loans to eligible students to help them attend colleges and universities in Texas. The Texas B-on-Time Loan Program also provides loan forgiveness.

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