Help A Student Pay for College

With Fixed Rates Ranging From

2.96%* - 7.60% APR1

*with Auto Pay discount6

Apply for a Parent Loan

Helping Texans Pursue and Achieve A Higher Education

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

Our Private Parent Loan is a great, low-cost loan option for parents, family members or other creditworthy individuals that wish to help pay for a student’s college costs.

As a Texas-based nonprofit, our Texas Extra Credit Parent 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 Parent Loan, we highly recommend the student beneficiary 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

Parent Loan Overview and Benefits

Repayment of the loan is the sole responsibility of the borrower; the student beneficiary holds no responsibility to the loan

Loans can be used for past due balances4

0.25% Auto Pay interest rate reductions6

3 repayment options, 3 repayment terms

Competitive fixed rates

Total & Permanent Disability Forgiveness10 and Death Forgiveness11

Program Features

An Education Loan Made for You

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Low-Cost Private Loan Program

Designed to help Texas residents pay for a student's college costs.

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Competitive Fixed Interest Rates

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

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Initial Credit Decision in Minutes2

Short and easy online application.

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Compare Loan Scenarios

Compare loan scenarios by selecting different repayment terms and options.

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Loan Limits3

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

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Zero Fees

No application, disbursement or origination fees.

Repayment Options

Select The Repayment Option That’s Right For You

Our Texas Extras Credit Parent Loan offers a 5, 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
  • No 6 month grace period option after the student graduates or ceases 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 the student is enrolled at least half-time

  • Interest payments begin 30-60 days after the first disbursement
  • Principal and interest payments begin 6 months after the student graduates or ceases to be enrolled at least half-time

Full Deferment

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

  • Repayment begins 6 months after the student graduates or ceases to be enrolled at least half-time

Eligibility Requirements

Qualifying For Our Parent Loan

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

You must be permanent residents of Texas – the student can attend any approved college or university throughout the United States

Current Income

You must provide proof of current income


You must be a United States citizen/national or lawful permanent resident alien of the United States

Frequently Asked Questions

Loan Information & Details

Is the Parent Loan limited to only parents of the student?

No, anyone can apply on behalf of the student beneficiary.

Can I apply with a cosigner to qualify?

Unfortunately, we do not allow cosigners to be added to a Parent 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, the student’s school must certify your loan application indicating the loan amount you are eligible to receive based on the student’s financial aid/need.

How much can I borrow?

The minimum loan amount is $1,000 and the maximum you can borrow is determined by the school the student is attending, but is limited to the lesser of the student’s 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 the person 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 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 documents, signed Loan Agreement and Applicant Self-Certification Form and the Student Consent Form (to be completed by the student beneficiary) before final loan approval.

Application Details & Instructions

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

No, you are not required to apply for Federal Aid before applying for our loan program.

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 uploaded, 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?

No, all funds are sent directly to the student beneficiary’s school. Once the student’s tuition and fees (and any other amount they may owe the school) are satisfied, any excess funds will be disbursed to the student by the school.

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.

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.

Why is my Social Security number needed?

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

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.

Do I have to make payments on my loan while the student beneficiary is enrolled in school?

If you select the Immediate Repayment option or Interest-Only Repayment option, you will be responsible to make payments on the loan while the student beneficiary is enrolled in school. If you select the Full Deferment Repayment option, payments will be deferred for up to 66 months while the student beneficiary is continuously enrolled at an approved school at least half-time.

Get Started Today!

Apply for a Parent Loan
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