Student Loans
Student loans can be a great resource for you and your family as you pay for your UTRGV education. Federal loans have closely regulated,
UTRGV average student loan debt for undergraduate graduating seniors is approximately $16,100, about 41% below the State Average of $27,300 and 46% lower than the national average of $30,100.
View more comparisons on loan debt within institutions.
Benefits of Student Loans – Invest in Your Future
Federal student loans are an investment in your future. You should not be afraid to take out a federal student loan because they can help fill the gap by providing essential funds to cover your educational expenses. Student loans offer financial support for students who would otherwise be unable to attend college or graduate/professional school.
View this information page to explore more benefits of student loans
Before You Borrow
Before you borrow any money, you should first accept all offered financial aid that does not need to be repaid. Borrowing should be your last source of funding. That means you need to first complete your FAFSA to be offered other forms of financial aid. Also, the loans you will be eligible for are based on your FAFSA.
Start out knowing that if you drop below half-time status or leave school before you earn your degree, you will begin repaying your loan(s) right then. Also, be sure to read about your rights and responsibilities as a student borrower before you borrow. Plan your repayment options and the steps you will take to keep from defaulting, because defaulting may keep you from getting a job, a mortgage, or even keeping any professional licensure you have.
Below, you will find information on federal loans and links to information about loans from other sources.
Loan Types
If you are pursuing a bachelor’s degree at UTRGV, these loan types may be available to you:
- Federal Direct Subsidized Loans
- Federal Direct Unsubsidized Loans
- Federal Direct Parent Loans (PLUS)
- Federal Perkins Loan
If you are pursuing a graduate degree at UTRGV, these loan types may be available to you:
- Federal Graduate Direct Unsubsidized Loans
- Federal Direct Graduate PLUS Loan (GradPLUS)
- Federal Perkins Loans
If you’re not seeking a degree, you do not qualify for federal or state loan funds.
Federal Loans for UTRGV Students
The U.S. Department of Education lends money to help students earn their degrees. The department loans the money directly to the student or parent, so most of these programs are called “Direct Loans.” Each type of loan has associated fees and interest rates. In addition, the federal government sets limits on how much you can borrow each year and in total. Click here to view the yearly and aggregate loan limits.
*****Important Notice to Our Service Members*****
Before you accept a federal student loan or a private loan, please know that you may contact one of our financial aid loan advisors to set up a one-to-one appointment with you via telephone, Zoom, or in-person. Our financial aid loan advisors are knowledgeable in the loan process and can explain your options to decline a loan, accept less than the offered amount; and explain the loan repayment process. For any questions, please contact:
- Omeheira Villarreal, Senior Financial Aid Coordinator – Loans
Phone: (956) 665-3195, Email: omeheira.villarreal01@utrgv.edu
- Felipe Olivarez, Assistant Director of Financial Aid
Phone: (956) 665-8236, Email: felipe.olivarez@utrgv.edu
Direct Subsidized Loan
The Direct Subsidized Loan is a need-based loan. You must have financial need as determined by your FAFSA results to qualify for a Direct Subsidized Loan. The federal government will pay the interest on the loan while you are in school (at least half time) and during any deferment period. You begin repaying (both
Eligibility
- Show financial need (complete your FAFSA)
- Enroll at least half time
- Undergraduate students: 6 credit hours
- Maintain Satisfactory Academic Progress (SAP)
- Do not borrow more than the annual or lifetime student loan limits
Direct Unsubsidized Loan
You do NOT have to demonstrate financial need to qualify for a Direct Unsubsidized Loan. However, interest begins to accrue on the loan as soon as the first disbursement is made—that is, while you are in school. You can either pay the interest while attending
Eligibility
- Complete the FAFSA
- Enroll at least half time
- Undergraduate students: 6 credit hours
- Graduate students: 6 credit hours
- Maintain Satisfactory Academic Progress (SAP)
- Do not borrow more than the annual or lifetime student loan limits
Direct Parent Loan (PLUS)
The Direct Parent Loan is for parents of dependent, undergraduate students. Interest accrues while you are in school. Your parent(s) will begin repaying the loan 60 days after the second disbursement, although they might choose deferment options while you are in school, enrolled at least half time.
Eligibility
- Complete your FAFSA
- Enroll at least half time
- Undergraduate students: 6 credit hours
- Maintain Satisfactory Academic Progress (SAP)
- Your parent must pass a credit check
- If your parent is denied the PLUS Loan based on the credit check, you may apply for additional unsubsidized loan funds
- Your parent cannot borrow more than the cost of attendance (less all other financial aid)
Direct Graduate PLUS Loan (GRADPLUS)
The Direct Graduate PLUS Loan is for graduate and professional students. Interest begins to accrue once the first disbursement is made. If you are denied the GradPLUS Loan based on credit, you are NOT eligible for additional unsubsidized loan funds. After the second disbursement, you will have a 60-day grace period until your first payment is due. You may be able to defer or delay repayment while you are attending school at least half time.
Eligibility
- Complete the FAFSA
- Enrolled at least half time
- Graduate students: 6 credit hours
- Maintain Satisfactory Academic Progress (SAP)
- Pass a credit check
- Don’t borrow more than the cost of attendance (less all other financial aid)
Interest Rates: Federal Student Loan
Direct Loans have low fixed interest rates for the life of the loan. The following rates are for loans first disbursed between 07/01/2022 and 06/30/2023:
- Direct Subsidized Loans—Undergraduate: 4.99%
- Direct Unsubsidized Loans—Undergraduate: 4.99%
- Direct Parent Loan (PLUS) Loan—Undergraduate: 7.54%
- Direct Graduate Unsubsidized Loan—Graduate: 6.54%
- Direct Graduate Plus Loan—Graduate: 7.54%
Federal Perkins Loan
Important: Under federal law, the authority for schools to make new Perkins Loans ended on Sept. 30, 2017, and final disbursements were permitted through June 30, 2018. As a result, students can no longer receive Perkins Loans. A borrower who received a Perkins Loan can learn more about managing the repayment of the loan by contacting either the school that made the loan or the school’s loan service.
This Federal Perkins Loan Program offers
Eligibility
- Complete the FAFSA
- Show exceptional financial need
- Enroll at least half time
- Undergraduate and Graduate students: 6 credit hours
- Maintain Satisfactory Academic Progress (SAP)
- Do not borrow more than the annual or lifetime student loan limits
First disbursement must be made prior to October 1, 2015
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UTRGV Average Student Loan Debt and 3-YR CDR vs State and National
The information below represents three years of historical data for UTRGV’s average student loan debt and 3-YR Cohort Default Rate (CDR) in comparison to the State and National averages.
3 Year Historical Data
| Average Student Loan Debt: | FY 2018 | FY 2017 | FY 2016 |
| UTRGV Average Student Loan Debt | $11,661 | $16,129 | $15,731 |
| % of UTRGV Students Who Borrowed | 59.0% | 59.0% | 60.0% |
| State Average Student Loan Debt | $27,293 | $27,986 | $26,292 |
| National Average Student Loan Debt | $29,200 | $28,650 | $28,709 |
| 3-YR CDR Rate: | FY 2018 | FY 2017 | FY 2016 |
| UTRGV 3-YR CDR Rate | 0.9% | 4.8% | 8.4% |
| State Average 3-YR CDR Rate | 10.3% | 12.7% | 10.4% |
| National Average 3-YR CDR Rate | 7.3% | 9.7% | 10.1% |
Source : Federal Student Aid: Official Cohort Default Rates for Schools
( https://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html)
Source : The Institute for College Access & Success (TICAS): Project on Student Debt
( https://ticas.org/our-work/student-debt/)