TEXAS B-ON-TIME LOAN
The purpose of the Texas B-On-Time Loan program is to provide eligible Texas students no-interest loans to attend colleges and universities in Texas. If the student meets specific goals, the entire loan amount can be forgiven upon graduation. Forgiven loans must be reported to the IRS as taxable income.
Eligibility Requirements: Applicants must:
- Have completed a FAFSA and be eligible to receive federal financial aid
- Be enrolled full time in an undergraduate degree or certificate program at an eligible institution, and
- Be a Texas resident or be entitled to pay resident tuition rates as a dependent child of a member of the U.S. armed forces, and
- Have graduated in the 2002-2003 academic year or later from a high school operated by the U.S. Department of Defense or under the recommended high school program from a public or accredited private high school in Texas, or
- Have earned an associate's degree from an eligible institution no earlier than May 1, 2005
- Have not been granted a baccalaureate degree
Check with your institution's financial aid office to determine if you meet eligibility requirements.
As funding for the Texas B-On-Time Loan Program is limited, your financial aid package may not include this loan.
Check website at www.hhloans.com for deadlines, renewal eligibility, forgiveness requirements and additional information.