Undergraduate Financial Aid

Outside Scholarships

Outside scholarships are also used to meet unmet need or to replace self-help. If you receive notification of an outside scholarship, please let us know by providing your scholarship award letter. This will allow us to account for the scholarship award in your financial aid package. If your outside scholarship is greater than your unmet financial need, we may adjust your aid in order to comply with federal and state regulations. Once we receive the actual check from your scholarship organization, we will work with our Business Office to apply the funds to your student account (bill).

Federal Pell Grant

The Federal Pell Grant is available to undergraduate students with the highest level of need (based on FAFSA data). The amount a student receives is also determined by the expected family contribution and the student’s enrollment status. Effective July 1, 2012, the maximum number of equivalent full-time semesters a student is eligible to receive a Pell Grant will drop from 18 to 12 semesters for all students, including those close to completion.

Federal Supplemental Educational Opportunity Grant

The Federal Supplemental Educational Opportunity Grant is available to students who qualify for the maximum Pell Grant. Funds are limited and are awarded on a first-come, first-served basis.

Tuition Equalization Grant

To be considered for the Tuition Equalization Grant, students must be Texas residents, demonstrate financial need and be enrolled full-time. These funds are awarded on a first-come, first-served basis.

St. Mary’s University Financial Aid Grant

Sponsored by St. Mary’s University, the Financial Aid Grant is available to undergraduate students. These limited funds are awarded on a first-come, first-served basis.

Federal Direct Loans

The U.S. Department of Education offers low-interest loans to eligible students to help cover the cost of college. You may be eligible to receive subsidized and unsubsidized loans based on your financial need.

Federal Direct Loans may be subsidized, which means the government pays the interest while you are in school or unsubsidized, which means the interest accrues while you are in school. The eligibility for the Federal Direct Loan is determined by the completion of the Free Application of Federal Student Aid (FAFSA). Students must submit a FAFSA, meet federal eligibility requirements and enroll at least half-time in a degree-seeking program. For more information, including repayment options and interest rates on Federal Direct loans, go to studentaid.gov.

Students who demonstrate financial need are awarded the Direct Subsidized Stafford Loan, while those with less financial need may be eligible for only part of the Subsidized Stafford Loan and may borrow Unsubsidized Stafford Loans up to the academic year limit.

Annual Loan Limits

The following charts show the annual and aggregate limits for subsidized and unsubsidized loans.

Dependent students whose parents are unable to obtain a PLUS loan fall into the independent loan limits.
Current students with unsubsidized loans prior to July 1, 2026, may continue to borrow under existing limits for a defined period.

New annual and aggregate limits based on program type for graduate and professional students:

Graduate programs: $100,000 (excluding undergraduate loans).
The aggregate loan limit for a graduate student who has been a professional student will be $200,000 minus the amount borrowed as a professional student.
Professional programs: $200,000 (excluding undergraduate loans).
The aggregate loan limit for a professional student who has been a graduate student will be $200,000 minus the amount borrowed as a graduate student.

Aggregate Loan Limits

All Students

New lifetime maximum of $257,500 for all federal student loans combined, excluding PLUS Loan.

Direct Subsidized Loans

Your eligibility for Direct Subsidized Loans is based on standard federal aid requirements, including annual and aggregate loan limits, enrollment status and demonstrated financial need.

Direct Unsubsidized Loans and Direct PLUS

Direct Unsubsidized Loans and Direct PLUS Loans are not subject to subsidized loan eligibility requirements.

Interest and Forbearance

If you enter military service or approved volunteer programs (such as the Peace Corps or AmeriCorps), you may qualify for a forbearance. During forbearance, payments may be postponed or reduced; however, interest will continue to accrue on all federal student loans.

Federal Direct Parent PLUS Loan

The Federal Direct Parent PLUS Loan is available to creditworthy parents of dependent undergraduate students to help cover educational expenses.
For loans first disbursed on or after July 1, 2026, borrowing is limited to:

$20,000 per academic year per student
$65,000 total per student (aggregate limit)

Parents who borrowed Parent PLUS Loans prior to July 1, 2026, may be eligible to continue borrowing up to the student’s cost of attendance minus other financial assistance for a limited period, depending on eligibility requirements.

Repayment generally begins within 60 days after the loan is fully disbursed; however, parents may request a deferment while the student is enrolled at least half-time.

Interest and Forbearance

Interest accrues from the time of disbursement.
If you enter military service or approved volunteer programs, you may qualify for forbearance; however, interest will continue to accrue on all federal loans.

For more information, including current interest rates and repayment options, visit studentaid.gov.

College Access Loan

College Access Loan (CAL) is available to Texas resident students who are credit-worthy or who have credit-worthy cosigners. The loan cannot be greater than the Cost of Attendance (COA) less all other aid.

Effective September 1, 2023, the Texas Higher Education Coordinating Board is required to calculate the final loan amount based on a student’s “manageable debt” for the borrower’s program of study on College Access Loan (CAL) applications (see TAC, Section 22.49(c)).

For more information on the CAL including interest rates, terms of repayment and the application process, visit hhloans.com. You can also find information and apply for the loan at elmselect.com.

Future Occupations and Reskilling Workforce Advancement to Reach Demand (FORWARD) Loan Program

The FORWARD Loan is available to Texas resident students who are creditworthy or who have a creditworthy cosigner. The loan cannot be greater than the Cost of Attendance (COA) less all other aid.

The FORWARD Loan Program is a low-interest loan designed for students enrolled in programs aligned with high-value credentials and high-demand occupations. This program is limited to students enrolled in specific programs within the fields of Nursing/Patient Care, Teaching, Technology, Transportation/Logistics and Energy. To see if your program is eligible, refer to the full list. Eligible credentials are reassessed annually. To qualify, you must also be able to complete this program within two years or less.

For more information on the FORWARD Loan, including interest rates, terms of repayment and the application process, go to HHLoans.com. You can also find information and apply for the loan at ElmSelect.com.

Alternative (Private) Loans

Alternative loans are private education loans offered by banks and other lending institutions. These loans may provide competitive interest rates and flexible repayment options, but terms and eligibility (including cosigner requirements) vary by lender.
Students are strongly encouraged to exhaust all federal and state financial aid options—including scholarships, grants, work-study and federal loans — before considering a private loan.
You can compare lenders and explore options through ELMSelect.

National Student Loan Data System (NSLDS)

The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED’s) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. All loan information will be submitted to NSLDS and accessible by authorized agencies, lenders and institutions.

Getting started with work study is easy. Below are the steps you must take:

Accept your Work-Study on Gateway.
The work-study job board link will be updated under Resources in your self-service Financial Aid in Gateway.
Submit your employment forms to St. Mary’s Office of Human Resources.