Federal Plus Loans
Parent Loan for Undergraduate Students
Parents of dependent students can take out loans to supplement their student's aid packages. The Federal Parent Loan for Undergraduate Students (PLUS) lets parents borrow money to cover any costs not already covered by the student's financial aid package, up to the full cost of attendance. PLUS loans are credit based and are the financial responsibility of the parents, not the student.
PLUS loans have a fixed interest rate of 8.5%. Repayment begins 60 days after the funds are fully disbursed, and the repayment term is up to 10 years.
If a parent is denied a PLUS loan, the lender will contact UMHB within 48 hours and the student's award will be recalculated to include a Federal Unsubsidized Stafford Loan up to a maximum of $4000 for first and second year students. Students who are in their third year or greater are eligible for up to a maximum of $5000.
To apply for a Federal PLUS Loan, please follow the process listed below.
University of Mary Hardin-Baylor and TG (Texas Guaranteed Student Loan Corporation) have teamed up to provide a Web-based application for PLUS loans. This online application, called TG Loans By Web, will guide you step-by-step through the process of obtaining a loan. Here's what you can expect.
Keep in Mind: You will not receive a loan until you have completed an application through TG Loans By Web. If you do not have access to a PC with an Internet connection, contact TG. (See phone number at end of instructions.)
Be prepared to provide two references, including address and phone number.
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 if you do not already have one.
Do not send signed MPNs to the University of Mary Hardin-Baylor. We will be notified of your loan electronically.
Applying:
- Go to TG Loans By Web at https://lbw.tgslc.org/. Once your browser is opened to lbw.tgslc.org, you will be directed to the “myTG portal” to log in. If this is your first visit to myTG, you will be required to register as a new user. After registering, you will then log in to "myTG" and be directed to "TG Loans By Web". Select Complete a loan award. On the Complete Your Loan Award screen, Option 1 displays, "You have no loan awards to complete." Please disregard this notice; proceed to the next step, as your school has instructed you to initiate a loan.
- Under Option 2, select your school from the drop-down list and click on the Create Loan Request button. Follow the prompts on the screen, and then continue with the TG Loans By Web process.
- The Complete Your Loan Award page lists the steps to initiate a loan: Personal Information, References, Lender Selection, and Loan Award Information.
- Type in your Personal Information. Click Next.
- Type in the contact information for two References. Click Next.
- Click Select Lender. UMHB's preferred lender list appears. Select a lender. Lenders that accept an electronic signature for pre-approval processing are preceded by an asterisk. Click Next.
- Review your Loan Award Information. Enter in your Requested Loan Amount, your Loan Period Begin and End date. (*See below for loan period beginning and end dates). Because this is a PLUS loan, you will need to enter your employer's information. Click Back to make corrections. Click Submit when you are done.
- 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.
- Click Close.
HELP: TG
P.O. Box 83100
Round Rock, Texas 78683-3100
Phone: (800) 845-6267
E-mail: cust.assist@tgslc.org
University of Mary Hardin-Baylor
Financial Aid Office, UMHB Station Box 8080
Belton, Texas 76513
Phone: (800) 727-8642 or (254) 295-4517
E-mail: finaid@umhb.edu
For the 2009-2010 school year, the following dates apply:
Loan period begin date: 8/22/2009
Loan period end date: 5/3/2010
For the fall semester only, the following dates apply:
Loan period begin date: 8/22/2009
Loan period end date: 12/5/2009
For the spring semester only, the following dates apply:
Loan period begin date: 1/9/2010
Loan period end date: 5/3/2010
Additional Information
Federal Stafford Loans
Private Alternative Loans
Private Alternative Loan Lenders
Loan Entrance/Exit Counseling
