• Make the right choice with
    Texas Extra Credit
    A private student loan designed specifically to
    help Texas residents pay for college
  • Education is more
    important than ever
    So is making smart financial decisions when it comes to paying for your education

Get your competitive Fixed or Variable Interest Rate education loan today!

With Fixed Interest Rates starting as low as 4.99% 1 and Variable Interest Rates starting as low as 4.90% 2 Apply Today

Paying for college is easy

With a Texas Extra Credit Education Loan

Texas Extra Credit is a low-cost private student loan program designed to help Texas residents pay for their college costs when scholarships, grants and federal aid just aren’t enough. By offering competitive fixed and variable interest rates, a variety of repayment terms and options, valuable borrower benefits and an easy-to-use, online application that compares estimated repayment amounts for multiple loan scenarios in real time, we know Texas Extra Credit is the answer you’ve been looking for when it comes to paying for your education.

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Program Features

We offer a wide array of loan features and options


Fixed interest rates ranging from 4.99% to 11.49% (with Annual Percentage Rates (APRs) ranging from 4.99% to 10.31%) 1


Variable interest rates ranging from LIBOR + 2.49% to LIBOR + 8.99% (Annual Percentage Rates (APRs) from 4.90% to 10.24%) 2


Complete your loan application online in as little as 15 minutes - initial credit decisions are typically made within minutes


Within the application you can compare loan scenarios by selecting different repayment terms, options and interest rate

Loan Limits 4

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

Zero Fees

No application, disbursement or origination fees

Plus, you get all of these additional features and options

  • Three Repayment Options
  • Two Repayment Terms
  • Invite a Cosigner With Just a Few Clicks
  • Open to Undergraduate and Graduate Students
  • Loans Can Be Used for Past Due Balances5
  • Deferment and Forbearance Options
  • Electronic Signature Option
  • Document Upload Function
With Interest rate reductions up to
0.50% 6, 7

Borrower Benefits that can save you money

Graduation Benefit 6

Earning your degree is a huge deal! As a way to congratulate you on your hard work, we offer a 0.25% interest rate reduction to each student that earns a bachelor's degree or higher.

Learn More

Auto Debit Benefit 7

Reduce your interest rate by 0.25% when you sign-up for auto debit payments from a savings or checking account.

Learn More

Cosigner Release 8

After making the first 24 consecutive monthly payments of principal and interest, you can request to have your cosigner released from the loan.

Learn More

Repayment Options

Learn more about each of our repayment options and which is best for you
With your choice of a 10-year or 15-year repayment term

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

Building Financial Confidence

We know that making smart financial decisions is important, but not always as easy as it sounds. That's why we offer free financial tools and resources.

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


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

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 our Financing Your Education modules.

Eligibility Requirements

Before you start your application, be sure that you meet all of the following requirements to be eligible to apply for a Texas Extra Credit Education Loan. If you meet our requirements, you can get started now, even if you don't have all the information you need to complete your application. We'll save your application!

  • Student borrower must be enrolled at least half time in a degree-granting program (as certified by the school) at an approved school
  • Student borrower and cosigner (if applicable) must be permanent residents of Texas - student can attend any approved college or university throughout the United States
  • The applicant applying as creditworthy (i.e. the cosigner or the student applying without a cosigner) must provide proof of current income
  • Student borrower and cosigner (if applicable) must be United States citizens/nationals or lawful permanent resident aliens of the United States


Loan Information and Details

Q. 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.

Q. 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.

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

No, there are no origination or disbursement fees.

Q. 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.

Credit History and Information

Q. 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.

Q. 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 and Instructions

Q. 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.

Personal and Financial Information

Q. 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."

Q. 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.

Q. 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.

Q. Why is my Social Security number needed?

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

Q. 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.

Q. 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.

Q. 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

Q. 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.

Q. 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.

Paying for college just became easier! Apply Today