Graduate Student Loans
Loans are a form of financial aid that must be repaid. Educational loans have varying fees, interest rates, repayment terms, and/or borrower protections. Borrowers must submit a Free Application for Federal Student Aid, the FAFSA, and meet eligibility requirements to receive loans.
Interest rate and loan fees for the year are determined annually on July 1.
Upcoming changes to graduate borrowing
Beginning July 1, 2026, federal law will change how graduate borrowing works.
Legacy borrowers, students who borrow a Graduate PLUS Loan before July 1, 2026:
- May borrow up to $20,500 per year through the Direct Unsubsidized Loan
- Additional funding through the Graduate PLUS Loan, which helps cover remaining educational costs up to the full cost of attendance
New borrowers, students who have not borrowed before July 1, 2026:
- May borrow up to $20,500 per year through the Direct Unsubsidized Loan
- Graduate PLUS Loans will no longer be available
- Students may have the option to explore private loans for additional funding
Locating your loan servicers
Visit Federal Student Aid to log in and locate your federal loan servicer(s). Contact your loan servicer for additional details.
Accepting Loans
You can accept all or a portion of your loan at any time during the academic year, although it is important to note that the deadline to accept an offered federal and/or institutional loan for each academic year is mid-May.
Steps to accept a loan:
- Log into MyAwards
- Accept all or a portion of the loan(s)
- Go to the requirements tab. Review and complete loan requirements:
- Promissory Note
- Entrance Counseling
- Review important dates to confirm when the school will begin to satisfy loan requirements. Keep confirmation of the completed requirements for your records.
Declining or reducing loans
Borrowers can decline all or part of the loan. Direct loan fund revisions may be requested within 120 days of the disbursement date. A balance may be created if the loan funds you are declining have already been applied to your Aggie Bill account. Visit Aggie Bill to review and repay any account balances created by the revision request.
Note: If the request is received outside of the 120-day disbursement period, the school will make a partial loan revision and direct you to the appropriate loan servicer for repayment guidance.
Steps to decline or reduce a loan:
- Log into MyAwards
- Select "Awards"
- Scroll down to select “submit a change in aid request”
- Select "Make changes to my loans"
- Submit form for processing
Federal loan updates
Learn how the One Big Beautiful Bill, or OBBB, Act affects your federal loan borrowing. Visit Changes to federal student loans.