Texas Student Loans Forgiveness Programs

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There are several Texas student loan forgiveness programs offered by the state government. In fact, some universities may have their own private program if they also offer financial assistance to students. A few of these student loans are:

Direct Subsidized Loan (DSL)

Direct Unsubsidized Loan (DUSL)

Direct PLUS Loan (PLUS)

Federal Family Educational Loan (FFEL)

Direct Subsidized Loan

The Direct Subsidized Loan is considered a low interest rate loan and offers a low repayment amount while still offering some help to those who qualify. The application process requires students to complete a Free Application for Federal Student Aid (FAFSA). Based on the total cost of attendance per school and family income, qualified borrowers receive full or partial financial aid. The maximum loan amount for Direct Subsidized Loans is $23,500. However, not everyone qualifies for this loan type. Students must meet certain criteria to qualify for this program including:

Being enrolled at least half time

Attending school in Texas

Having no outstanding federal debt and a future plan to work in public service

Receiving financial assistance under the FAFSA

Direct Unsubsidized Loans

This loan is designed specifically for students who do not qualify for federal student aid yet still want to borrow money. The maximum allowable loan amount for Direct Unsubsidized loans is $31,000. To apply for this loan, interested parties need to complete and submit a separate FAFSA. If a borrower does not qualify for federal aid, he/she may still find relief with this loan program.

Federal Family Education Loan

Texas Student Loans Forgiveness Programs

The first step toward getting Texas student loans forgiven is contacting the U.S. Department of Education’s (ED) Income-Based Repayment (IBR) program. Undergraduate students who have taken out private loans may qualify for IBR if their debt falls below the median income of the borrower’s state. Private loan forgiveness under IBR requires that borrowers make ten years of payments. After 10 years, borrowers must pay back any remaining balance of their loan at 8 percent interest. Borrowers who graduate with no debt may still benefit from IBR. If a borrower makes twelve consecutive monthly payments while enrolled in IBR, they may receive 100% consolidation of their federal student loans. IBR is offered only to students whose total loan amount does not exceed $23,250.

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Texas Student Loans Forgiveness Programs

Published on Sep 18, 2017

The best thing about being able to educate yourself online is that there’s no need to visit certain websites to gather information. There’s a plethora of information at your fingertips! Here are some things that we do know about Texas student loans forgiveness programs. Let’s get started!

Texas Student Loans Forgiveness Programs

Texas Guaranteed Student Loan Corp (TGSL)

This program provides loan forgiveness for students who have completed their undergraduate studies at an eligible school, have paid off their loans, and who are enrolled full-time in a qualifying repayment plan. Eligible schools are public colleges or universities.

Texas Public Higher Education Tuition Grant Program

This grant program helps pay tuition costs for Texans whose family income is less than $100,000 per year. Students must meet specific eligibility requirements and receive financial aid before receiving the grant.

Texas Promise Grants

This program provides grants for college students who demonstrate financial need. The amount that a student receives is based on his or her family’s annual adjusted gross income and the number of children in the household. Students must apply directly to participating institutions.

Federal Pell Grant

The Federal Pell Grant is awarded to undergraduates attending public colleges or universities in Texas. It covers 100% of the cost of attendance minus any other forms of financial assistance. Students must complete FAFSA to qualify for a grant.

State Higher Education Assistance Grants (SHEG)

Students may use these funds toward the cost of studying in Texas. These grants cover between 50% and 100% of the cost after financial aid and scholarships are taken into account. Students must complete FASFA to apply.

Texas Student Loans Forgiveness Programs

Texas State Government

The Texas state government offers several programs to help students pay off their student loans faster, including income-based repayment options. You may qualify for the Texas Public Finance Program (TPFP) if you have a job that qualifies for unemployment benefits. If you were laid off due to business restructuring or your employer’s bankruptcy, then you could be eligible for the Texas Workforce Commission Guarantee Program.

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Private Loan Companies

If you don’t qualify for any loan forgiveness programs, you might want to consider private student loan forgiveness companies. You can find these companies by doing a web search. Many people who own their own business use this kind of company to lower their tax liability by borrowing money against their business instead of taking it out of their personal bank account.

Federal Student Aid

You should apply to federal financial aid programs even if you plan to borrow from private lenders. Most private lenders won’t look at

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