Texas B-On-Time Loan

The Texas B-On-Time (BOT) Loan is a zero percent interest loan. Forgiveness is available upon graduation if a student meets specific requirements.

This loan is no longer being awarded to new borrowers.

Eligibility

Be a full time undergraduate student.
- If you are enrolled in less than 12 credit hours, contact us about a Hardship Appeal form.
Have a completed Free Application for Federal Student Aid (FAFSA) and be eligible to receive federal financial aid.
Complete at least 75 percent of the semester credit hours attempted in the most recent academic year.
Have a cumulative UNT GPA of at least a 2.5
- If your UNT GPA is under 2.5, but your overall GPA (with transfer work) is above 2.5, contact us.
Have no more than 150 semester credit hours (excludes AP, CLEP, military, Dual Credit)

2018-2019 Amount

The maximum amount of a BOT Loan is $9,348. This loan program has a three percent origination fee that is taken out of the loan before it is disbursed to you. The amount you can borrow is based on available funds, your financial aid packet, and other factors.

How Forgiveness Works with the BOT Loan

If you qualify for forgiveness, you will not have to repay the loan.

Forgiveness Plan A
Graduate with a cumulative GPA of at least a 3.0 on a four-point scale within 4 calendar years after the date the student initially enrolled in an eligible institution; 5 calendar years after the date the student initially enrolled in an eligible institution, if the degree is architecture (Texas CIP Codes Category 04.0201) or engineering (Texas CIP Codes Category 14); or 2 calendar years after the date the student initially enrolled in a public or private 2-year institution.

Forgiveness Plan A

Graduate with a cumulative GPA of at least a 3.0 on a four-point scale within

4 calendar years after the date the student initially enrolled in an eligible institution;
5 calendar years after the date the student initially enrolled in an eligible institution, if the degree is architecture (Texas CIP Codes Category 04.0201) or engineering (Texas CIP Codes Category 14); or
2 calendar years after the date the student initially enrolled in a public or private 2-year institution.

Forgiveness Plan B
Graduate with a cumulative GPA of at least a 3.0 on a four-point scale including transfer credit hours without exceeding 6 hours more than the number of credit hours required to complete a baccalaureate degree (usually 120 hours).

If you do not qualify for forgiveness, you are signed up for repayment.
After your 6-month grace period:

Monthly payment will be at least $75 a month ($900 per year).
The repayment period is 15 years.
Repayment must be made to the Texas Higher Education Coordinating Board (THECB).

Options if You're Having Difficulty Making Payments

- Contact THECB ASAP!
  - 800-242-3062 (Toll Free)
  - 512-427-6340 (Austin Area)

Education deferment
- Be enrolled at least half time in school.
- Be sure your account is not in default.
- Provide documentation of course load.

Discharge
- - Occurs only after permanent disability or death.
  - Must provide official documentation.

Forbearance
- Be experiencing unusual financial hardship.
- Submit a request in writing to the THECB.
- Provide documentation of financial hardship.

Consequences of Paying Late

20 days	Late fees.
90 days	State payments withheld.
5 consecutive monthly payments	Full balance due.
6 consecutive payments (180 days)	Loan in default. Interest charged.

Consequences of Default

Loan balance due
Licenses on hold
Lose eligibility for loan deferment
Damaged credit rating

For more information, visit HH Loans or email us.