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College Access Loan (CAL)

About the Loan
Interest Rate and Fees
Loan Amount
Application for Loans
Offer of Loans
Disbursement of Loans
Maintenance of Loans
Repayment of Loans

About the Loan

The College Access Loan Program (CAL) provides alternative educational loans to students who are Texas residents and are able to meet their Cost of Attendance (COA). The CAL may be used to cover part or all of the student's Expected Family Contribution (EFC). The amount of federal aid that a student is eligible for (regardless of whether actually accepted) must be deducted from the COA in determining the CAL loan amount.

Interest Rate and Fees

The interest rate is a fixed annual rate of 4.50 percent and is not capitalized. Effective April 25, 2017, College Access Loans will carry a fixed interest rate of 6.60 percent.

Loan Amount

Students may borrow no less than $100, and up to the cost of attendance minus any other financial aid. The following fee will be deducted from each College Access Loan:

  • A 3-percent origination fee, if both the borrower and cosigner have a good credit standing, or
  • A 5-percent origination fee, if either the borrower or cosigner, but not both, has a good credit standing.
  • Effective April 25, 2017, an origination fee will no longer be assessed for all approved CAL borrowers.

Application for Loans

Students may complete an application at hhloans.com.

Eligibility Requirements

Students must:

  • Be a Texas resident; and
  • Be enrolled at least half-time in:
    ° a course of study leading to an associate's, bachelor's, graduate, or higher degree; or
    ° an approved alternative educator certification program;
  • Meet Satisfactory Academic Progress requirements;
  • Receive a favorable credit evaluation or provide a cosigner who has good credit standing and meets other requirements.

Offer of Loans

In addition to completing application, students must sign Master Promissory Note (MPN) and disclosure statement. Once the student's application has been processed, the student's account will be updated accordingly.

Once a student is notified via email, the student will need to accept any loan awards offered via myUH self-service account. If the student does not need the loans they are awarded, the student can reduce or decline them.

Disbursement of Loans

Disbursement dates are set by the Texas Higher Education Coordinating Board. Once the student has completed their MPN and has accepted the terms and conditions of the loan, the student may log in to the HHLoans Online website to view disbursement dates.

Once the loan has been disbursed, the funds will be applied to the student's account to cover any charges. If a credit balance is created, funds will be refunded to the student's BankMobile refund preference.

Maintenance of Loans

To maintain eligibility for future disbursements, the student must:

  • Be enrolled at least half-time in:
    ° a course of study leading to an associate's, bachelor's, graduate, or higher degree; or
    ° an approved alternative educator certification program;
  • Meet Satisfactory Academic Progress requirements.

Repayment of Loans

  • Loans have a six-month grace period from the date a borrower ceases to be continuously enrolled as at least a half-time student at an eligible institution;
  • Principal balances under $30,000 have up to a ten-year repayment period with minimum monthly payments of $50;
  • Principal balances of $30,000 or more have a repayment period of up to 20 years;
  • The loan will not be sold to another lender;
  • Postponements of loan repayment and income-sensitive or graduated repayment schedules are available.