There are several loan programs available to students. They include the Federal Direct Loan, , the Direct PLUS Loan, and alternative credit based loans from lenders or the Texas Higher Education Coordinating Board. . In order for a student to apply for any Direct Loan, they must first fill out the Free Application for Financial Aid (FAFSA) and will be notified of eligibility in their award letter.
Direct Student Loan Instructions – all first time borrowers who are going to take out Direct Loans at Blinn College must do the following:
A Federal Guaranteed Student Loan offers:
Subsidized Loan - interest rate is 4.29%
Unsubsidized Loan - interest rate is 4.29%
Parent PLUS Loan - interest rate is 6.84%
available to the parents of a student enrolled at least half time is an institution of higher learning interest for this loan is not deferred - the parent receiving the loan is responsible for all interest which begins accruing at the time the loan is given . Direct Parent Loan Instructions
WARNING: the student is responsible for all the interest of this loan, including the interest which begins accruing when the loan is given
Students can also apply for a credit based loan at any lender that offers private loans for education or for the private loans through the Texas Higher Education Coordinating Board.
Students who attend Blinn College and have ever received a Direct Loan must complete Direct Loan EXIT Counseling when they cease attendance at least half time or graduate from Blinn College. Students can complete EXIT Counseling at www.studentloans.gov. A registration and transcript hold will be placed on the students account until the EXIT Counseling is completed.