Financial Aid Loans

Federal Loan Eligibility Requirements

1. Student must complete the FAFSA.
2. Student must meet academic progress as determined by the Financial Aid Office.
3. Student must be enrolled at least half-time (6 hours) each semester.
4. Be a citizen or eligible non-citizen.
5. The student must not be in default on any federal loan or owe a refund back to any federal program.
6. Not already exceed aggregate loan limits.

How do I apply for a Stafford Student Loan?

Temple College "packages" Stafford Loans for all of our students who have submitted a FAFSA. Once you are awarded a loan, you still must accept the loan through the Loans By Web™ process. You will find step-by-step instructions included with your award letter as well as on this website. Please contact our office if you have any questions.

Your student loan can be used only for educational costs such as tuition and fees, room and board, books and supplies. You want to borrow only what you need.

Loans By Web™ - New Loan Process Beginning April 15th

Keep in Mind

• Your FAFSA and Temple College requested financial aid forms should be complete.
• You will not receive a loan until you have completed an application through TG Loans By Web™.
• Be prepared to provide two references, including address and phone number.
• You may have the option to electronically sign your Master Promissory Note (MPN) with certain lenders. To do so, you may use your Department of Education personal identification number, or PIN. You may obtain a PIN at www.pin.ed.gov.
• Do not send your signed MPN to Temple College. The school will be notified of your loan electronically.
• You will need Adobe Acrobat to print your MPN and Borrower's Rights and Responsibilities. Get it free at www.adobe.com.
• When given options, always choose "Continue" or "Next" unless you want to start over.
• Allow approximately 20 minutes to complete the process.

To Apply

1. Open your Web browser and go to TG Loans By Web™ at https://lbw.tgslc.org. The borrower logs in using their Social Security Number and date of birth. Follow the instructions on the screen.
2. Select Complete a loan award, then choose an award.
3. Entrance Counseling: If this is your first Stafford student loan, you will have to complete online entrance counseling. To do so, click Entrance Counseling. Once you have completed counseling, write down the confirmation number verifying your completion.
4. Update your personal information. If you are a returning student and have already received a Stafford student loan from your school, your information should already be available.
5. Review or enter your reference information, including addresses and phone numbers.
6. Select your lender. Your school will provide a list of preferred lenders to choose from. Lenders that will accept an electronic signature for your loan request are designated with an asterisk.
7. Review and submit your loan award information. (Click Back at the bottom of the screen to make changes.)
8. Print the MPN for a guaranteed loan or have TG print and mail an MPN to you. You may click E-sign to sign MPNs for lenders that accept electronic signatures.
9. Click Close.
10. Sign, date, and mail one copy of your printed MPN to your lender. Your lender will not release funds for your loan until it has received the signed MPN from you. If you already have an MPN through your school, you may not have to mail in another note.

How Can My Parent Apply For A PLUS Loan?

Applying for a Pre-Approved PLUS Loan Using TG Loans By Web™

Keep in Mind

• You will only receive a loan if you complete an application through TG Loans By Web™. If you do not have access to a computer with an Internet connection, contact TG. Refer to TG's contact information below.
• Be prepared to provide different name, address, and phone number for two references.
• Be prepared to provide a valid e-mail address, when prompted. This will help ensure the prompt delivery of your loan award information.
• You may have the option to electronically sign a Master Promissory Note (MPN) with certain lenders. To do so, obtain a Department of Education personal identification number, or PIN, at www.pin.ed.gov.
• Do not send signed MPNs to the school your son or daughter is attending. The school will be notified of your loan electronically.
• Understand that TG communicates important loan processing information via e-mail. Promptly read and act upon e-mails from TG (Texas Guaranteed) and TG Customer Assistance - cust.assist@tgslc.org.

Applying

1. Open your Web browser and go to TG Loans By Web™ at https://lbw.tgslc.org. Log in using your Social Security Number and date of birth. Follow the instructions on the screen.
2. Under Option 2, select Temple College from the drop-down list and click on the Create Loan Request button.
3. Enter your dependent's Social Security Number and Date of Birth.
4. Type in your Personal Information and include your e-mail address. Click Next.
5. Type in the contact information for two References. Click Next.
6. Click Select Lender. Temple College's preferred lender list appears. Lenders that accept an electronic signature (E-sign) for pre-approval processing are preceded by an asterisk. Select a lender. Click Next.
7. Enter in your Requested Loan Amount. Please note, the amount that your request will be divided by the number of terms of enrollment for the academic year), enter your Loan Period Begin and End date. Enter your employer's information. Click Back to make corrections. Click Submit when you are done.
8. Your loan request will be routed to the lender to obtain a credit approval. Select the hyperlink Online Credit Status to retrieve the results of your credit request. Depending on the lender you selected. Processing times will vary and your results may not be available immediately. Please bookmark the lender Web site and refer back to it later.
9. If the selected lender accepts electronic signatures, click the E-sign button to sign your MPN (Master Promissory Note). If the E-sign button is not available, your MPN will be mailed to you for signature or your lender may have electronic signature capability on their Web site.
10. Click Close.

Help

TG
P. O. Box 83100
Round Rock, TX 78683-3100
Phone: (800) 845-6267
E-mail: cust.assist@tgslc.org

Loan Process

Link to Temple College Lender List

https://www.nelnet.net/MarketingProd/schools/HTML/12215_templeC.html

How Will I Know If My Loan Has Been Approved?

After your loan has been guaranteed you must either:

1. Print, sign, and mail your Master Promissory Note (MPN) to your lender, or

2. “E-sign” your Master Promissory Note (see explanation below) with your FAFSA pin number if you have one. Several banks offer the “e-sign” feature. If you sign with your PIN number, then you don’t need to print the Master Promissory Note and mail it to your lender. They will receive your “signed” note immediately. Caution: This may become more trouble than it is worth. You will be linked to the lender’s web-site. Some even make you set up a user ID and password to use their web-page.

"Guaranteed" does not necessarily mean "approved". Texas Guaranteed Student Loan Corporation guarantees the bank that your loan will be re-paid. You must still be approved by your lender. You will receive a letter (disclosure statement) from your lender stating whether you have been approved or not and if you have, when to expect the funds to be disbursed.

Usually if your loan has been "guaranteed", the lender will approve your loan. Don't make plans for the money until you have received final approval by your lender and you receive the loan funds.

Loan Limits for Stafford Loans

Disbursement Rules

Loan proceeds are released in two disbursements. The Financial Aid Office will notify you for specific release dates by means of your award letter. For Fall/Spring loans, you will receive half of the loan amount requested in the Fall and the other half in the Spring semester provided you are enrolled in at least 6 semester hours and meet Temple College's satisfactory academic progress as determined by the Financial Aid Office. Example: You were awarded $3,500 for the Fall/Spring term. You will receive $1,750 for the Fall semester and $1,750 for the Spring Semester (excluding first-time borrowers, 30 day hold rule and excluding late applicants). For Single Term only loans, you will receive half of the loan amount requested approximately 14 days after classes start and the other half at the midpoint of the semester. Example: You were awarded $1,750 for the Fall term. You will receive $875 approximately 14 days after classes start and $875 at the midpoint of the term (excluding first-time borrowers, 30 day hold rule and excluding late applicants).

Please remember that some lenders still retain an origination fee. Origination fees are charged by the federal government for processing the loan. The fee is deducted from the proceeds of your loan by your lender and paid to the federal government. Please make note: According to Federal Regulations, the first disbursement for first-time borrowers must be held 30 days from the 1st class day. Also, all first-time borrowers of a Federal loan must complete an entrance counseling session at www.mapping-your-future.org before receiving any loan proceeds.

PLEASE NOTE:
Your loan funds will be sent to Temple College by means of Electronic Funds Transfer (EFT). EFT is the electronic transfer of loan proceeds from your lender to an account at the school or the school's financial institution. You could receive credit for your tuition, fees, and possible books up to your first loan check amount. If you owe any difference, will you be responsible to pay that difference. If you have a balance left over, you will be issued a Temple College "balance" check for the remaining funds.

IMPORTANT!!! All balance checks must be picked up at the Cashier's Office by the borrower within 30 days of the check is received by Temple College. Any checks not picked up within this time frame will be mailed to the address that is in our Admissions and Records Office. BE SURE ADMISSIONS AND RECORDS HAS YOUR CURRENT MAILING ADDRESS AT ALL TIMES.

Master Promissory Note

Subsidized Stafford Loan

The Stafford Subsidized Loan is awarded to undergraduate and graduate students on the basis of financial need determined by the Free Application for Federal Financial Aid (FAFSA). Lending institutions, such as banks or credit unions, provide the funds for this loan. The federal government pays the interest on this loan until you begin repayment. Repayment of this loan will begin six months after you graduate, leave school, or drop below half-time enrollment (6 hours). To qualify for this loan please see the Federal Loan Eligibility Requirements.

Unsubsidized Stafford Loan

The Unsubsidized Stafford Loan Program was created by the government to assure that all students, regardless of their income, would be able to obtain a student loan. The federal government does not pay the interest while you are in school. Interest will be charged from the time the loan is disbursed until it is repaid in full. If you decide to capitalize or defer the interest, it will be added to the principle amount of your loan and this will increase the amount you have to repay. If you choose the option of paying the interest as it accumulates, then you will pay less in the long run. Repayment of the interest and principle will begin six months after you graduate, leave school, or drop below half-time enrollment (6 hours). To qualify for this loan please see the Federal Loan Eligibility Requirements.

Entrance Loan Counseling

All first-time borrowers must attend entrance counseling before your loan will be processed. Entrance Counseling is available through the Loans By Web™ link above or you can go directly to www.mapping-your-future.org.

Exit Loan Counseling

Federal Regulations require that all students who receive a Federal Family Education Loan must complete exit counseling prior to graduation or dropping below half-time attendance. Exit Counseling is available through the link above or you can go directly to www.mapping-your-future.org. You will need a list of three different references (relatives or friends) that will always be in contact with you. Include their name, address and phone number.

Parent Loans for Undergraduate Students (PLUS)

The purpose of the Parent Plus Loan is to assist parents by providing a source of loan funds to help pay the cost of education for dependent undergraduate students. Parents may borrow up to the full cost of attendance less any other financial assistance the student receives. Parents must be able to pass a credit check or obtain a 'co-signer' who is able to pass the credit check. Both the parent and student must meet general eligibility requirements for federal financial assistance. Students must be enrolled in at least 6 hours each semester to be eligible. Repayment begins within 60 days after the loan is fully disbursed.

Funds will arrive at Temple College by paper check made co-payable to Temple College and the parent borrower. If the student has an outstanding balance in the business office, you will need to come in person and endorse the check. Or, only upon your request, we will mail the check to you for endorsement and request that you return the check in the envelope provided. The funds will then be applied to the student's account. Any left-over funds will be issued to the parent as soon as it is administratively possible. If the student does not have an outstanding balance, the check will be mailed to you, endorsed by Temple College.

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