I.M. Terrell Academy
Student Loans
Student loans are borrowed money that helps pay for college or career training. Unlike scholarships or grants, loans must be repaid—often with interest. They can come from the federal government, private lenders, or state programs like those offered in Texas.
Type of Student Loans
How to Apply for Student Loans
Federal Loans
- Complete the FAFSA at studentaid.gov
- Review your financial aid offer from colleges
- Accept loans through your college’s financial aid portal
Texas Loans
- Visit HHLoans.com
- Choose your loan program (CAL, FORWARD, TASSP)
- Apply and submit required documents
Loan Repayment & Forgiveness
Repayment Begins
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After graduation or dropping below half-time
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Most loans have a 6-month grace period
Repayment Plans
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Standard: Fixed payments over 10 years
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Income-Driven: Payments based on income
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SAVE Plan: New federal plan with lower payments (some parts paused due to court rulings)
Loan Forgiveness Options
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Public Service Loan Forgiveness (PSLF)
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Teacher Loan Forgiveness
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Disability or school closure discharge