Doctoral Incentive Loan Repayment Program Fact Sheet
The purpose of the Doctoral Incentive Loan Repayment Program is to provide student loan repayment assistance as an incentive to attract members of underrepresented groups to full-time service as faculty members or administrators at public or independent institutions of higher education in Texas.
The state budget shortfall presented extraordinary challenges for the 82nd Texas Legislature, resulting in the elimination of funding for many programs and significant cuts to others. Unfortunately, because no funds were appropriated for the Doctoral Incentive Loan Repayment Program for the 2012-2013 biennium, no new applicants will be accepted into the program during the current two-year state budget period.
To qualify for the Doctoral Incentive Loan Repayment Program an individual must:
- Submit a completed application to the Board
- Have received a doctoral degree from a college or university that is accredited by a recognized accrediting agency
- Have either:
- graduated from a Texas high school that at the time of graduation was a) one from which only 50 percent or less of the graduating class enrolled in an institution of higher education following graduation; or b) a low-income school or
- at the time of graduation from high school, have resided in an area of Texas where the high school closest to his or her residence was a) one from which only 50 percent or less of the graduating class enrolled in an institution of higher education following graduation; or b) a low-income school
- Have qualified for need-based financial assistance while enrolled in a graduate-level degree program
- Not have been employed full-time as a faculty member or administrator with supervisory duties in an eligible institution for more than 12 months
- Have a full-time job offer as a faculty member or an administrator with supervisory duties from, or be negotiating a contract with an eligible institution
- Be a Texas resident
Note: Faculty may not participate in this program and the Border County Doctoral Faculty Loan Repayment Program concurrently.
Annual Loan Amounts
- The maximum annual repayment amount is $20,000.00, with a $100,000.00 maximum aggregate.
- Participation in the program is limited to 5 years.
- Annual loan repayments are disbursed after verification of eligible service for a complete academic year, and are made co-payable to the participant and the holder of the loan.
- Repayments under this program are considered taxable income by the Internal Revenue Service, and will be reported as such by the Texas Higher Education Coordinating Board.
- Approval of applications will depend upon the availability of funds.
Loans Eligible for Repayment
To be eligible for repayment a loan must:
- Be evidenced by a promissory note which explicitly required the loan proceeds to be used to pay the costs incurred for attending a public or independent institution of higher education
- Not be being repaid through the Border County Doctoral Faculty Education Loan Repayment Program
- Must not be in default
For more information, please email us or call the THECB at 1-800-242-3062 (outside Austin), or at 512-427-6340 (Austin area).