Federal Stafford and PLUS loans are funded by banks, savings and loans, credit unions, state agencies, and other financial institutions. The Federal Stafford interest rate is currently 6.80% for borrowers in school, grace and deferment periods and 8.25% for borrowers in repayment.  This rate is adjusted annually on July 1st, and is currently subject to an 8.25% maximum.  The current Federal PLUS interest rate is 8.50% adjusted annually, with a 9% maximum.  There is a 3% origination fee deducted from the Federal Stafford and the Federal PLUS loans at the time of origination.  This is a one-time fee that will be deducted from your loan disbursement prior to your receipt of funds.

The office of Student Financial Aid at Tarleton State University is committed to providing educational funding options to students and parents to fulfill student's goals and dreams.

Borrowers must choose their own lender.

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

• Tarleton State University does not receive any  benefits in from lenders.
  
• A student or parent borrower may select any lender. A borrower should not be directed to any specific lender by the University.
  
• A student or parent has the right to cancel their student loan, in part or full.
  
• The request for cancellation must be submitted in writing to the Tarleton State University Student Financial Aid Office.
• Lenders may retain the borrower's loan while in school and throughout the repayment period; other lenders may sell loans on the secondary market. In order to determine which practice a lender engages in, the borrower should contact the lender.
  
• Alternative Educational Loans provide additional education funding optoins but generally have higher, variable interest rates as well as different repayment terms and options. Potential borrowers should carefully compare all loan terms and conditions.