Students, who would like to access a neutral and comprehensive comparison chart, please visit ELM Select.

ELM Select is a loan comparison tool that assists borrowers in deciding on a private loan that is best suited for their needs. We do not recommend, suggest, or endorse any of the lenders. Students are not limited to the lenders listed in the chart and may borrow from any lender of their choice by directly visiting the web site of the lender they wish to borrow.

Once eligible students apply, get approved by the lender based on their credit history, and complete all the required paperwork, the selected lender will send A&M-San Antonio a certification request. A&M-San Antonio will verify the student’s eligibility and certify the request accordingly. A&M-San Antonio will not certify a loan for a student who does not meet the above eligibility requirements. Once A&M-San Antonio certifies the loan, your lender will forward the loan proceeds in accordance with the loan period to the school. Please note that there is a 4-6 week processing time for Private Loans. You will be notified when the loan proceeds are available

NOTE:

Some states offer their residents with student loan options to finance any remaining gaps after federal eligibility has been exhausted. Texas Residents may consider Texas Higher Education Coordinating Board loan program.

College Access Loan disclosure information/additional eligibility requirements may be found at www.hhloans.com .

FORWARD Loan Program is designed for students enrolled in programs aligned with high-value credentials and high-demand occupations. This program is limited to students enrolled in the fields of Energy, Nursing/Patient Care, Teaching, Technology, and Transportation/Logistics. Eligibility requirements can be found at www.hhloans.com .

School Certification and Disbursement

Due to these new regulations if you have specific questions regarding your alternative loan disbursement, please contact your lender.

Students pursuing Alternative loans through a lending institution will be subject to specific Federal guidelines. The new guidelines will require that lending institutions provide three additional disclosures to the borrower regarding their loan application, approval, and acceptance status. The purposes of these disclosures are to:

• • Present the terms, conditions and costs of the loan
  • Allow for comparisons between lending institutions and promote informed borrowing
  • Present lower cost federal options that may be available through the Free Application for Federal Student Aid (FAFSA).

• • • The borrower is allowed 30 days to accept the terms and conditions of the loan outlined in the approval disclosure.
    • Students will be required to submit a Private Education Loan Applicant Self-Certification form to their lender. No funds will be disbursed until the form is returned to the lender.  This form can be obtained from your lender. Information regarding the total cost of attendance at A&M-San Antonio can be found at here.
    • Federal regulations require colleges and universities to notify student loan borrowers of their right to cancel all or a portion of their loan or loan disbursement. No action is required on the student’s part unless wanting to reduce or cancel your loan(s). Requests must be made in writing and should be sent directly to the Office of Financial Aid by contacting us here. Please include the borrower’s full name, student ID number, the name of the alternative loan and the amount to be reduced or canceled. If the cancellation results in a balance due on the student’s account, payment will be required.