Click here for 2009-2010 Federal Stafford Lender List Comparative Chart

The Blinn College lender list serves as guidance for students when selecting a lender for their Federal Stafford Loans.  Students are not required to choose a lender from our list.  Therefore, students have the right to choose a lender that is not listed on the above lender list.  For lenders to be included on this list they must demonstrate quality service to students, fair and reasonable repayment options and incentives, and quality customer service to our staff.  Blinn College conducts a formal review of prospective lenders each year through a request for information survey.

Lender Benefit information last updated June 1, 2009

Loans by web instructions

Loans by Web Process

Entrance counseling

Exit counseling on-line

Loan Programs

Blinn College offers several forms of loans to their students. They include the Stafford Loan, Hinson-Hazlewood, and the College Access Loan and the B-On Time Loan. In order for a student to apply for any of these, they must first fill out the Free Application for Financial Aid (FAFSA) and will be notified of eligibility in their award letter. All first time borrowers at Blinn College MUST complete Student Loan Entrance Counseling before we will process your loan application.

Stafford Loans -

a Federal Guaranteed Student Loan

• variable interest rate
• 10 years to repay
• repayment begins 6 months after becoming enrolled less than half time
• interest deferment dependent loan type

Subsidized Loan -

• a student can borrow up to $3,500 for freshmen students, $4,500 for sophomores
• Interest for subsidized loans is deferred - the student is not responsible for any interest as long as they are enrolled at least half-time in an institution of higher learning

Unsubsidized Loan -

• a student can borrow up to $3,500 for freshmen students, $4,500 for sophomores
• the student is responsible for all interest which begins accruing at the time the loan is given

Parent PLUS Loan

• offered 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

Hinson-Hazlewood -

College Access Loan -

• student may borrow up to $25,000 at favorable terms10 years to repay after becoming enrolled less than half timerepayment begins 6 months after becoming enrolled less than half time.
• a student may apply for this loan by visiting www.hhloans.com

WARNING: the student is responsible for all the interest of this loan, including the interest which begins accruing when the loan is given

Texas Higher Education Coordinating Board-

B-On Time Loan-

• The purpose of the B-On Time Loan program is to provide eligible Texas Students with a no-interest loan that can enable them to attend college and universities. The special benefit of this loan program is that if the borrower meets specified goals, the entire loan amount can be forgiven upon graduation.
  

Blinn College Loan Policies

Because Blinn College is concerned about student loan defaults and levels of indebtedness, Blinn College has adopted the following procedures:

Denial of Federal Family Educational Loans (FFEL):

In accordance with the 1990 Reauthorization of the Higher Education Act of 1965, an institution may refuse to certify a loan application if the institution documents the reason and provides the reason in writing to the student. Under the same provision, an institution may certify a loan amount that is less than the student’s determination of need if it documents the reason and provides the reason in writing to the student. Higher Education Act, sec. 428 (a)(2)(F)

The decision to reduce or refuse to certify an otherwise eligible borrower’s loan must be made on a case-by-case basis, with supporting documentation maintained in the student’s file. Dear Colleague Letter GEN-91-19, June, 1991, pp. 6,7

1. First time borrowers at Blinn College who have been awarded a Stafford loan must complete pre-loan counseling before a loan application will be given to the student. No loan applications will be processed until pre-loan counseling has been done.

2. All full scholarship athletes who request Stafford loans will need to complete the required request forms, which will be reviewed by the Director of Financial Aid.

3. No loans, subsidized or unsubsidized, will be made for less than $200, effective for loans processed after August 1, 2000.

4. Blinn College will allow students whose parents have been denied a Parent Loan for Undergraduate Students (PLUS) the opportunity to submit an AUSB request form for a maximum of $6,000 of additional unsubsidized loan funding for a dependent student.

5. Independent students may request additional unsubsidized loan amounts as well. In addition, students must submit an AUSB Request form.

6. All students who have received Federal Stafford Loans at Blinn College are required to complete an Exit Interview form before any official transcripts will be released.

Exceptions to the above policies must indicate extenuating circumstances that must be approved by a Financial Aid Officer. When policy is dictated by regulation, no exceptions can be made.

Effective date: Loans processed for 2000-2001 academic year and later

Page Last Updated: June 3, 2009