Loan Options
Please review the loan options below that are available for financial aid.
Stafford Loan
The Stafford loan is a federally guaranteed loan provided by a participating lender, such as a bank or a credit union. Therefore, there is no credit check required to receive a Stafford loan. You are eligible for a Stafford loan by completing the FAFSA.
Read More About the Stafford Loan - Claim your Stafford Loan
The annual loan maximum for dependent students are:
Freshmen $3,500 (completion 0-29 hrs)
Sophomore $4,500 (completion 30-59 hrs)
Junior $5,500 (completion 60-89 hrs)
Senior $5,500 (90+ hours)
Plus Loan
The Federal PLUS Loan is an alternative loan for parents of dependent undergraduate students. It is credit-based and the lender you choose will determine credit eligibility. A FAFSA is not required.
Read More About the Plus Loan - Apply Now for the Plus Loan
Perkins Loan
The Federal Perkins Loan is awarded on a need basis, and the availability of funds is limited. Students must sign the Master Promissory Note (MPN) each semester. Please contact the Office of Human Resources at (325) 793-3820, or go to Maedgen Building, Room 104, after the 8th class day.
Read More About the Perkins Loan
Alternative Loan
Several other loan alternatives are available. Alternative loans are private education loans through a lending institution and are not part of the federal government programs.
Read More About Alternative Loans - Apply Now for an Alternative Loan
B-On-Time Loan/Grant
The B-On-Time is a loan payment funded through the Texas Higher Education Coordinating Board. To complete the process go to www.hhloans.com. Sign and mail the application to the address provided. Students must maintain a 2.5 GPA and complete 75
College Access Loan
The College Access Loan (CAL) is a credit-based loan Funded through the Texas Higher Education Coordinating Board. The loan is offered at a 5,25% interest rate with a 3% origination fee at disbursement. Interest begins to accrue when the funds are disbursed. CAL is available to Texas residents only. To complete the loan process go to www.hhloans.com. Have the co-signer sign the application in the presence of a notary and mail the application to the address provided on the application.
Bonner Price Loan
The Bonner Price Loan is a private, co-signed loan for McMurry University students through the Wells Fargo Trust Department in Lubbock, TX. Students are required to have at least a "B" average in high school and maintain a 2.0 GPA while in college. The maximum annual award is $5,000. Interest is set at 5% and begins to accrue when studnets enter repayment. Please complete the application and return to Wells Fargo Trust, P.O. Box 10517, Lubbock, TX 79408.