Loans | Texas Tech University Health Sciences Center
students on campus

Types of Financial Aid

 

Student Loans 

The lenders are banks, credit unions, savings and loan institutions, and insurance companies who participate in FFELP are eligible to provide funds for federally sponsored education loans. The lender is the holder of the loan. Your lender may sell your loan to a secondary market; however, the terms and conditions of your loan remain the same.

The Servicers are institutions contracted by lenders to perform loan origination, due diligence, and/or collection and reporting functions on student loan portfolios for lenders. Servicers administer loans on behalf of lenders and secondary markets.

DISCLOSURE: The TTUHSC Financial Aid Office is committed to providing educational funding options to assist students in pursuing their educational goals and dreams. Borrowers must select their own lender.  You may choose ANY lender that participates in the student loan programs.

 

Federal and Private Student Loan Options

 

TTUHSC Official Federal Student Loan Cohort Default Rate

What is a cohort default rate?

A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.

The U.S. Department of Education releases official cohort default rates once per year. The FY 2016 official cohort default rates were delivered to both domestic and foreign schools on September 23, 2019

To view the cohort default rates for TTUHSC, please visit: https://nslds.ed.gov/nslds/nslds_SA/defaultmanagement/search_cohortCY2016.cfm

TTUHSC's OPEID is 010674

TTUHSC Lenders - Information, Suggestions

Before making the decision to borrow, students and parents should review the following information:

  • Why select a Federal Loan vs. Private Loans?
  • The lenders on our Additional Loan Programs List are evaluated annually to be considered for inclusion. TTUHSC does not receive any benefits in exchange for placing a lender on the Lender List. A student or parent borrower may select any lender and is not restricted to the lenders presented on the TTUHSC Lender List.
  • A borrower should not be directed to any specific lender by the University.
  • For lender specific borrower benefits, including guarantee and origination fee information, please refer directly to the lender’s website.
  • A lender may retain the borrower’s promissory note while in school and through the repayment time period, while other lenders may sell the note to a secondary market for repayment. A borrower should contact the lender selected to determine their specific process.
  • A borrower has the right to cancel their student loan, in part or in full. Notify the TTUHSC Financial Aid Office to make this request.

If you have questions about financial aid call 806.743.3025