Professional Education Loans

Low-Cost Funding for Your Professional Degree

Continuing your education is more important than ever, and so is making smart financial decisions when it comes to paying for that education - that's why we offer the Texas Extra Credit Professional Loan through our partner, Higher Education Servicing Corp. (HESC). The Texas Extra Credit Professional Loan was developed specifically to help Texas residents pay for college when scholarships, grants and federal aid aren't enough to cover the full cost of attendance.

To qualify for a Texas Extra Credit Professional Loan you must be enrolled at least half time in one of the following professional degree programs: Pharmacy (Pharm.D), Dentistry (DDS or DMD), Veterinary Medicine (DVM or VMD), Chiropractic (DC or DCM), Law (JD), Medicine (MD), Optometry (OD), Osteopathic Medicine (DO), Podiatry (DPM, DP or Pod.D), Clinical Psychology (Psy.D or Ph.D) or Nursing (MSN or DNP).

If your degree program is not listed above, you may be eligible for Texas Extra Credit Graduate Loan.

If you’re a parent, guardian or individual interested in taking out a loan on a student’s behalf, check out the Texas Extra Credit Parent Loan.

Program Features:

• Competitive fixed rates as low as 2.49% (with Auto Pay Discount⁵ and Graduation Benefit⁴) to 7.98% APR²
• Complete your loan application online in as little as 15 minutes¹
• Borrow from $1,000 up to cost of attendance minus financial aid annually
• Maximum aggregate loan limit is $400,000, inclusive of all student loan debt
• Internship/Residency Deferment available for eligible borrowers⁹
• Add a creditworthy cosigner to the application with a few simple clicks
• Satisfactory Academic Progress (SAP) required
• No application, origination or disbursement fees

Benefits:

• 0.25% interest rate reduction just for graduating⁴
• 0.25% interest rate reduction for auto debit payments⁵
• Cosigner release after the first 24 consecutive on-time monthly loan payments⁶
• Death Forgiveness⁷
• Total & Permanent Disability Forgiveness⁸

Repayment Terms and Options:

You'll be able to choose from one of three repayment options below and your choice of a 5, 7, 10, 15 or20-year repayment term:

1. Immediate- Loan payments begin 30-60 days after the last disbursement.
2. Interest-only - Only make interest payments while enrolled at least half-time. Start making full payments of interest and principal 9 months after graduating or dropping below half-time status.
3. Fully Deferred - Make no payments while enrolled at least half-time. Start making full payments of interest and principal 9 months after graduating or dropping below half-time status.

Eligibility:

• Student borrower must be enrolled at least half time in a graduate degree-granting program (as certified by the school) at an approved school
• Student borrower and cosigner (if applicable) must be permanent residents of Texas
• The applicant applying as creditworthy (i.e., the cosigner or the student applying without a cosigner) must earn $50,000 per year and provide proof of current income
• Student borrower and cosigner (if applicable) must be United States citizens/nationals or lawful permanent resident aliens of the United States

What You’ll Need to Apply:

• Bio/Demo Information
• Employment History
• Financial Information
• References

Important Information

Higher Education Servicing Corporation (HESC) is the lender and loan originator for the Texas Extra Credit Education Loan program(s). HESC is responsible for all private education loan processing and communications with the borrower(s) throughout the application process. Questions related to the application process or the status of your loan should be directed to HESC at info@hescloans.com. You can also contact HESC at 877-817-9158, Monday thru Friday from 8:00 a.m. to 5:00 p.m. CT.

Notice

We highly recommend students apply for and utilize all federal student aid programs through the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov prior to applying for any private student loan. If you decide to apply for a private loan, it is best to apply with a creditworthy cosigner as most student applicants do not meet the credit criteria. Having a cosigner may also help secure a lower interest rate.

Start Your Application Today

Completing the online loan application takes as little as 15 minutes. And the application makes it easy to invite a cosigner to the process, mix and match loan options, and compare loan scenarios, so you can select a loan that's right for you.

And don't worry, if you don't have all of the necessary information to complete your application, we'll save it (securely) for you.

Graduate Loan Disclaimers

1. The initial credit review is based on review of all the information you and your cosigner (if applicable) provide during the application process and the information obtained from your credit report(s). If you pass the initial credit review, you will need to provide acceptable documentation such as your income verification and Applicant Self-Certification Form and we will need the certification from your school before the final loan approval.
2. The current fixed interest rates range from 2.89% to 9.24% in effect as of 7/1/2026. The fixed interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the applicant’s and cosigner’s (if applicable) credit histories (2) the repayment option and loan term selected, and (3) the requested loan amount and other information provided on the online loan application. If approved, the applicant(s) will be notified of the rate qualified for within the stated range. APRs range from 2.49% (with Auto Pay Discount⁵ and Graduation Benefit⁴) to 7.98%. Lowest rates are only available for the most creditworthy applicants. The APR reflects the estimated total cost of the loan, including upfront fees, accruing interest and the effect of capitalized interest. The lowest APR example is based on a $10,000 loan disbursed in a single transaction, a 5-year repayment term (60 months), an immediate repayment plan, an interest rate of 2.64%, and monthly principal and interest payments of $178.09. The lowest APR example includes a 0.25% interest rate reduction for payments via Auto Pay⁵ and a 0.25% interest rate reduction Graduation Benefit⁴ applied 25 months into repayment. The highest APR example is based on a $10,000 loan disbursed over two transactions, a 20-year repayment term (240 months), a deferred repayment plan with a deferment period of 60 months upon initial disbursement, a nine-month grace period before repayment begins, a 9.24% interest rate, and monthly principal and interest payments of $138.76. The fixed interest rate assigned to a loan will never change except as required by law or if you request and qualify for the the Auto Pay Discount⁵ or Graduation Benefit⁴. Repayment terms and options available may vary depending upon the amount borrowed.
3. Program loans may be used to cover educational expenses for academic periods that end up to 180 days prior to the application date.
4. Student borrowers who earn a bachelor’s degree or higher will receive a 0.25% interest rate reduction if (a) they have made no more than one (1) late payment (more than 10 days late) on the loan, (b) they request the benefit from the servicer within one (1) year after graduation, and (c) they provide proof of graduation to the servicer. Borrowers are only eligible to receive one (1) 0.25% interest rate reduction Graduation Benefit per loan, regardless of the number of degrees they may earn. The interest rate reduction will only apply to the loan(s) you received for the degree earned. If you apply for an additional loan after receiving the initial interest rate reduction and you earn another bachelor’s degree or higher, you may request the interest rate reduction be applied to the subsequent loan(s) as long as you meet the stated eligibility requirements at the time of the subsequent request. The student must request this benefit via phone, email or mail and must provide either a certified copy of a diploma or a certified transcript. Upon the servicer’s review and acceptance of the student's documentation, the servicer shall send a confirmation letter stating that the graduation benefit has been granted.
5. An interest rate reduction of 0.25% is available for borrowers who make monthly electronic funds transfer (EFT) payments of principal and interest from a savings or checking account. To qualify, the borrower needs to arrange with the loan servicer to automatically deduct monthly principal and interest payments from a bank account. The automatic payment benefit will discontinue and be lost for the remaining repayment period in the event any three payments are returned for insufficient funds over the life of the loan. This benefit is not available for interest payments made during the deferment period for the Interest Only Repayment option. This benefit may be terminated during deferment and forbearance periods, but can be re-established if borrower reapplies at the end of the deferment or forbearance period.
6. Request for the cosigner to be released can be made after the first 24 consecutive, on-time monthly payments (not later than ten days after the due date) of principal and interest have been made. At the time of request for cosigner release, the student borrower must (a) meet credit criteria in place for cosigner release, (b) be currently enrolled for automatic deduction of monthly payments from a savings or checking account at the time of the cosigner release application, and (c) must have had at least one payment deducted electronically from such bank account prior to the time of the cosigner release application. Lump sum payments will count as a single payment. If the borrower is granted a forbearance or makes a lump sum payment in excess of the monthly payment amount during the first 24 months of the Repayment Period that permits the borrower to skip one or more scheduled monthly payments, the borrower may lose the ability to qualify for the Cosigner Release Benefit.
7. If the student Borrower should die while enrolled at least half-time at an eligible institution, and the Loan is not in default, the student Borrower’s estate and each Cosigner (or Cosigner’s estate, if applicable) will be released from the Loan and the Servicer shall write down any outstanding principal and accrued interest balance on the Loan to a zero balance if the Servicer receives acceptable proof of death and proof of enrollment at an eligible institution at the time of death. If the student Borrower dies and the Loan is cosigned and does not qualify to be written down to zero, the Loan will be charged off and the Cosigner (or Cosigner’s estate, as applicable) will be released from any further obligation. The Servicer may attempt to file a claim against the student Borrower’s estate for any unpaid debt under this Credit Agreement. Any payments received from the student Borrower’s estate, less collection costs, will be applied to all applicable Loan(s). If the student Borrower dies for a Borrower only Loan and the Loan does not qualify to be written down to zero, the Loan will become a charge off Loan. The Servicer may attempt to file a claim against the student Borrower’s estate for any unpaid debt under this Credit Agreement. Any payments received from the student Borrower’s estate, less collection costs, will be applied to all applicable Loan(s). If a Cosigner dies, the Servicer will continue to service the Loan in accordance with the Credit Agreement as the student Borrower is still obligated to the debt. The Servicer may attempt to file a claim against the Cosigner’s estate for any unpaid debt under this Credit Agreement. Any payments received from the Cosigner’s estate, less collection costs, will be applied to all applicable Loan(s). If the student Borrower, Cosigner, or any of their respective estates are released from obligations under this section, no refund will be paid for prior payments made on the Loan.
8. In the event a student Borrower becomes Totally and Permanently Disabled, the student Borrower, or his/her representative, may contact the Servicer by phone or mail to request information regarding the Lender’s Total and Permanent Disability (TPD) discharge. Any Loan that has not previously become a charged off Loan or that is not currently in default may be discharged due to the student Borrower’s Total and Permanent Disability, as defined by the Lender’s TPD Terms and Application. The definition of TPD, the application form for a TPD discharge, the required supporting documentation, and other terms, limitations, conditions and requirements for a TPD discharge (“TPD Terms”) can be obtained by contacting the Lender or Servicer by phone or mail. The Servicer must receive a completed TPD Application within the timeframe stated within the application that complies with the requirements set forth by the Lender for a Loan to be discharged. If the student Borrower meets the TPD requirements set forth by the Lender, the Servicer shall write down any outstanding principal and accrued interest balance on the Loan to a zero balance (if the Loan has a Cosigner, the Cosigner’s obligation to the Loan will be canceled). For additional information regarding TPD or to request an application, contact the Loan Servicer.
9. An Internship/Residency Deferment may be available to student borrowers if 1) service in an internship program is required for the student borrower to receive professional recognition in order to begin professional practice or service, or 2) service in a medical internship or residency training program leads to a degree or certificate awarded by an institution of higher education, hospital, or a health care facility that offers postgraduate training. This deferment is awarded in 12-month increments up to twenty-four (24) months for Graduate/MBA Loan borrowers and thirty-six (36) months for Pharmacy, Dentistry, Veterinary, Law, Medicine, and Health Profession Loan borrowers.