Federal Student Loans

Loans are a form of financial aid that must be repaid, usually with interest, after you graduate. The amount of money you can borrow depends on several factors, including your year in school. Loans are offered by the federal and state governments, as well as through private lenders.

RECEIVING A FEDERAL STUDENT LOAN

The first step to receive a Federal Direct Subsidized or Unsubsidized loan is to complete the Free Application for Federal Financial Aid (FAFSA).

UTA will offer your maximum loan eligibility as part of your financial aid package, but you do not need to accept the entire amount. You can adjust the amount you want to accept on your MyMav account so you only borrow what you need. 

In order for your student loans to disburse into your MyMav account, you must:

• Be enrolled in at least half-time credit hours in a degree-seeking program (Undergraduate students: 6 credit hours; Graduate students: 5 credit hours).

• Complete Direct Loan Entrance Counseling (if you are a first-time student loan borrower or previous counseling has expired).

• Sign a Master Promissory Note (MPN) (if you are first-time student loan borrower at UTA or a previous MPN has expired).

FEDERAL STUDENT LOAN BENEFITS

Some of the benefits of borrowing federal student loans include:

• Most federal student loans do not require a credit check or cosigner.

• Repayment on your federal student loans does not begin until after you graduate or fall below half-time enrollment status.

• The interest rate on federal student loans is almost always lower than on privately-funded loans.

RESPONSIBLE BORROWING

Before borrowing any student loans, it is important to understand your responsibilities as a borrower. Student loans are an investment in your future, but it is important to practice smart borrowing. We have resources available to help you with money management and student loan borrowing on our Loan Repayment page.

The federally calculated Cohort Default Rate (fiscal year 2020) for students who borrowed through the Federal Direct Loan program to attend UTA is 0.1%. The national average cohort default rate (fiscal year 2020) is 0.0%. The percentage of undergraduate students that borrow loans at UTA (Fall 2020) is 43%.

You can also watch the video below to learn more about student loans the responsible borrowing.