Texas B-On-Time (BOT) Loan

How to apply

Continuing Students

Students will be automatically awarded the BOT loan as long as the eligibility requirements are met.

Priority Dates

Fall/spring: March 15
Spring only: Aug. 15
Summer: Feb. 15*
 
 

Texas B-On-Time Update

The Texas Legislature has voted to end the B-On-Time Loan program.  Beginning with the Fall 2015 semester, funding will be available for renewals only.

Description

This is a no-interest loan for eligible Texas students. If the borrower meets certain requirements, then the entire loan amount can be forgiven upon graduation. The State of Texas funds the loan.

You'll have to repay this loan if you do not meet all of the ongoing eligibility criteria before graduation. Visit the Texas Higher Education Coordinating Board site for more information.

Amount

Annual loan amounts for 2017-2018.

  • $4,525/semester ($9,050/year)
  • 3% origination fee

Continuing Eligibility

  • As of the end of the 1st Academic Year - meet satisfactory academic progress requirements toward a degree or certificate as determined by the institution.
  • As of the end of the 2nd and Subsequent Academic Years - complete at least 75% of the semester credit hours attempted in the most recent academic year and have a cumulative GPA of at least a 2.5 on a 4.0 scale (or the equivalent) on all course work previously attempted at institutions of higher education.

A student may not receive B-On-Time for more than 150 hours. Students are able to receive the Texas Grant and the Be-On-Time loan simultaneously.

Students that meet criteria and have been offered Texas Be-On-Time, but are not interested should decline the award.

Payment

A notification will be placed on your myUNT “To Do List” alerting you as to when you can complete your file with the Texas Higher Education Coordinating Board (THECB).

Loan funds will not disburse (pay) until all requested documentation has been submitted to the Texas Higher Education Coordinating Board, and your application is considered to be complete.

If your file is complete, funds can be sent from THECB to UNT by September 1st for the fall term and 10 days prior to the first day of the spring term. However, disbursements can occur throughout an enrollment term upon completion of a file.

Questions as to when B-On-Time funds will be sent to UNT should be referred to the Texas Higher Education Coordinating Board. Their contact number is 800-242-3062.

Forgiveness Requirements

The loan shall be forgiven if you receive an undergraduate degree or certificate from an eligible institution and you either:

  • Graduated with a cumulative UNT GPA of at least a 3.0, within:
    • 4 calendar years after the date you initially enrolled in an eligible institution,
    • 5 calendar years after the date you initially enrolled in an eligible institution, if the degree is in architecture, engineering, or any other program determined by the board to require more than 4 years to complete; or
    • 2 calendar years after the date the student initially enrolled in a public or private 2-year institution;
    ...OR
  • Graduated with a cumulative UNT GPA of at least 3.0, with a total number of credit hours that is no more than 6 hours beyond what is required to complete the degree or certificate

Please read additional Important Forgiveness Information from the Texas Higher Education Coordinating Board

Forgiven BOT Loans must be reported to the IRS as taxable income.

Students can download the BOT Loan Forgiveness Eligibility Confirmation Form.

Repayment

Repayment will be made to the Texas Higher Education Coordinating Board. The repayment period shall begin no earlier than six months after the date on which the student ceases to be enrolled continuously in an eligible institution. BOT loans have a 0% interest rate.

Questions regarding repayment should be referred to the Texas Higher Education Coordinating Board. Their contact number is 800-242-3062.

Repayment Length

BOT has a 15 year repayment period or a minimum monthly payment of $75.00 paid on a monthly basis for principal, fees and costs that accrue over the life of the loan.

Questions regarding repayment should be referred to the Texas Higher Education Coordinating Board. Their contact number is 800-242-3062.

B-On-Time Counseling

 

All our B-On-Time students are required to watch the official B-On-Time counseling video. It explains all aspects of the loan from awarding to how to apply for forgiveness. The counseling also goes into great detail regarding repayment (if forgiveness requirements are not met), repayment options, and the consequences of not complying with the repayment of your loan.

After you have completed the B-On-Time Counseling, please email your completion certificate to loans@unt.edu