Higher Education Loan FAQs

Applying for a Higher Education Loan 

How do I start the loan process?

Once you have reviewed the information on our website, you can begin the loan process by selecting the "Apply Now" button. This will take you to a page where you can start your new loan application. Information to have on hand prior to applying:

  • Identification Details: Name, Social Security number, drivers license number, date of birth and citizenship status
  • Contact Information: Current address and phone number(s)
  • Email Address: Both the applicant and cosigner must provide valid email addresses, which will be used as the login username for the loan application as well as means to contact the applicant and/or cosigner
  • Membership Identification: The applicant will need to enter their credit union membership identification number
  • Employment & Income: Employer name, phone number(s), monthly income information and any additional household income if applicable
  • Academic Information: School name, academic year, enrollment status, academic program and expected graduation date.

Do I have to be a Greater Texas or Aggieland CU member to apply for a Higher Education Loan ?

You do not have to be a member to apply for a Higher Education Loan. However, if approved for your loan, credit union membership will be required prior to the loan funding. Memberships are established by opening a savings account with a $5 minimum deposit.

When should I apply for financial aid?

You can apply for financial aid as early as October 1 for the upcoming school year. The Free Application for Federal Student Aid (FAFSA) is your first step. It is always in your best interest to complete the FAFSA to determine eligibility for federal assistance prior to applying for private educational loan funding. The FAFSA will determine your eligibility for federal loans and other aid. You can complete the FAFSA online at www.fafsa.ed.gov. The Higher Education Loan is a way to fill the gap between federal assistance and the final cost of tuition.

For other loans, you can apply whenever you like, but it's a good idea to apply well in advance of when your tuition is due.

Will I need a co-signer?

You must meet credit history and income requirements to qualify for a Higher Education Loan. Because of these eligibility requirements, most students will need to apply with a qualified co-signer. Even if you meet the eligibility requirements, adding a credit-worthy cosigner may qualify you for a lower interest rate.

Managing Your Higher Education Loan Account

How do I access my loan information online?

Once your loan has funded, the loan will be serviced by Higher Education Servicing Corporation on behalf of the credit union. If you are a new or existing borrower to Higher Education Servicing Corporation you will need to register your account through the online access at Higher Education Servicing Corporation

If your loan is in the application process, to review the status, you can access the application portal by logging onto to our website using the email address and password you set up during the application process.

Once the loan has been disbursed, the student will need to check with their school to find out the status of funds.

How do I change my address for my loan?

You can mail the change of address notification to HESC, 4381 W. Green Oaks Blvd., Suite 200, Arlington, TX 76016-4452, use your online account access to update demographics, fax the changes to Fax: (817) 792-7878 or email the updates to service@hescloans.com .

Loan Payments

How do I make my loan payments?

You can mail your payments to HESC, P.O. Box 678511, Dallas, TX 75267-5811 or sign up today to have your monthly payment automatically deducted from your bank account with our Automatic Debit Payment Plan and receive a .25% interest rate reduction. Payments can also be made through your account online at hescloans.com .

Can I change the due date for my payments?

You can change your due date once every 12 months by either emailing service@hescloans.com or faxing customer service at (817) 792-7878. Your account must be current and your request must be submitted a minimum of three business days prior to your payment due date.

How do I pay off my loan in full?

Contact HESC Customer Service via email at service@hescloans.com or obtain the payoff using your

Loan Statements

How can I view online statements?

You can register to access your account information online at hescloans.com and your individual account statements can be requested by phone or email, but the statement copies are not available online.

When will I start receiving my student loan statements?

The account statements are mailed 25 days prior to the payment due date.

Information for Parents

Why should I co-sign a loan for a student?

Many students do not have the credit history, nor income required for approval on their own. Adding a credit-worthy cosigner may help you get approved and may qualify you for a lower interest rate. 

Can I, as a parent, take out a loan on behalf of my student?

Parents may want to pay college expenses themselves rather than having the student take on all the responsibility. Our Sponsor Loan can help. A sponsor is someone who supports the student's plans to attend school and becomes the primary on the loan. Students are required to join the application as a co-signer, which helps establish credit for the student. This product allows sponsors to pay for a student's expenses, in part or in full, without having to tap into their own savings, investments, or retirement funds, and may offer better benefits than other available types of credit.