The College Access Loan Program provides alternative education loans to Texas students who are unable to meet the cost of attendance. The CAL may be used to cover part or all of the student's Expected Family Contribution (EFC); students do not have to demonstrate financial need . However, the amount of federal aid for which you are eligible must be deducted from the cost of attendance in determining the CAL loan amount.

This loan program is part of the Hinson-Hazlewood College Student Loan Program administered by the Texas Higher Education Coordinating Board (THECB).

ELIGIBILITY REQUIREMENTS -- Students must:

	Be a Texas resident
	Be enrolled at least half-time in a course of study leading to an associate, bachelor, graduate or higher degree or be enrolled in an approved Alternative Educator Certification Program
	Meet the satisfactory academic progress requirements set by the institution
	Receive a favorable credit evaluation or provide a cosigner who has good credit standing and meets other requirements

ANNUAL LOAN AMOUNTS

	Students may borrow an amount up to the cost of attendance less other financial aid
	A 3% origination fee will be deducted from the proceeds of each loan if both the borrower and cosigner have a good credit standing
	A 5% origination fee will be deducted from the proceeds of each loan if either the borrower or cosigner, but not both has a good credit standing

COSIGNER ELIGIBILITY REQUIREMENTS

	Must be at least 21 years of age
	Must have a regular source of income
	May not be the borrower or the spouse of the borrower
	Must receive a favorable credit evaluation
	Must be a permanent U.S. resident or a U.S. citizen and reside in the U.S. or in a U.S. territory

2007-2008 INTEREST RATES -- Students may choose either:

	A fixed annual rate of 6.00% or
	A variable rate that is re-set annually and will never be higher than 4 points above the rate at which the loan is made. Currently that rate is 6.92%

OTHER FEATURES

	No guarantee fees or insurance premiums
	Interest is never capitalized
	The loan will not be sold to another lender
	THECB will service the loan from the time it is originated until it is paid in full
	Six-month grace period before repayment begins
	Ten-year repayment period, with minimum monthly payments of $50.00 for balances under $30,000; 20-year repayment for balances of $30,000 or more
	Postponements of loan repayment and income-sensitive or graduated repayment schedules available

APPLICATIONS

Please apply online here.

For more information, review Coordinating Board Rules, Chapter 21, Subchapter C, Coordinating Board Rules, Chapter 21, Subchapter X, and Texas Education Code, Chapter 52. You may also call our Loan Services department in Austin (512) 427-6340 or toll-free (outside Austin metro): 1-800-242-3062 or send an e-mail to Loan Services.