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Routing #: 311080311

Personal Loans

Lending For Your Needs with a Personal Loan

As a Prestige member, you can borrow money on the strength of your good credit alone. A personal loan (signature loan) allows you to borrow up to $15,000.00 for up to 36 months with no collateral required. These loans are ideal for when you need cash quickly and have great rates.

Our Personal Loans feature:

  • Great low rates starting at APR*
  • Terms as long as 36 months
  • Amounts as high as $15,000.00
Signature Loans LOC Limit APR* Terms
Up to 2x gross monthly income – Payment based on 3% of member's balance

The interest rate you will receive on your personal loan is based on approved credit and your past credit performance.

Credit Builder Loan

Build Your Credit While Building Your Savings

Whether you’re establishing credit for the first time or rebuilding after financial setbacks, a Credit Builder Loan can help you take the next step with confidence.


Unlike a traditional loan, you don’t receive the funds upfront. Instead, Prestige Community Credit Union places the loan amount into a secured savings account while you make affordable monthly payments. As you repay the loan, the principal you’ve paid is released to you. At the same time, your on-time payments are reported to the major credit bureaus, helping you build a positive credit history.


By the time you’ve paid off your loan, you’ll have built stronger financial habits, established a record of on-time payments, and earned access to the loan funds.


How a Credit Builder Loan Works:

What is a secured savings account? A secured savings account is where your loan funds are safely held while you make monthly payments. You won’t have access to the money right away because it serves as collateral while you repay the loan. As you repay the loan principal, that portion of the funds becomes available to you.

Example: *

Let’s say you open a $1,200 Credit Builder Loan with a 24-month term:

Step What Happens
Open the Loan We deposit $1,200 into a secured savings account in your name. The funds remain there while you make your loan payments.
Make Payments You make your scheduled monthly loan payments over a 24-month term.
Build Credit Every on-time payment is reported to the major credit bureaus, helping you establish a postive payment history.
Your Money Becomes Available As you pay down the loan principal, that portion of the $1,200 is released from the secured savings account and becomes available to you.
You Reach Your Goal After your final payment, you've earned access to the full $1,200 while building a stronger credit history along the way.

*Example is for illustration purposes only. Actual loan terms, payment amounts, and rates may vary.

Is A Credit Builder Loan Right for You?

A Credit Builder Loan may be a good fit if:

  • You’re new to credit and want to establish a credit history.

  • You want to improve your credit score through consistent, on-time payments.

  • You’ve been turned down for traditional financing because of limited or damaged credit.

  • You want to build savings while building better financial habits.

Features:

  • Loan amounts up to $2,000

  • Terms up to 36 months

  • Affordable monthly payments

  • Payments reported to the major credit bureaus

  • Funds held in a secured savings account until earned through repayment

Frequently Asked Questions

  • No. The loan funds are placed into a secured savings account while you make your monthly payments. As you repay the loan, the principal you’ve paid is released to you.

  • Making on-time payments can help you build a positive payment history, which is an important factor in your credit score. While no loan can guarantee a score increase, responsible repayment may help strengthen your credit over time.

  • Credit Builder Loans are designed for members who are building or rebuilding their credit. Contact our lending team to discuss eligibility and find the option that’s right for you.

  • Missing a payment could impact your credit and may delay when your loan funds become available. If you’re having trouble making a payment, please contact us as soon as possible. Our team is here to discuss your options and help you stay on track whenever we can.

  • No. There is no penalty for paying off your Credit Builder Loan early. However, making consistent, on-time payments over the life of the loan is what helps build a positive payment history. If you’re considering paying off your loan early, our lending team can help you understand how it may affect your credit-building goals.

Ready to Start Building Your Credit?

Give us a call at (972) 715-4444. Our lending team is here to answer your questions and help you determine whether a Credit Builder Loan is the right fit for your financial goals.

Contact Us

Credit Cards

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Our Rates Speak For Themselves

Looking for a great rate on credit cards? We have some of the best rates in the nation. We offer a flexible Annual Percentage Rate (APR) that is based on the Prime interest rate. (Rates are updated monthly.) This means that regardless of changes in the financial world, your rates won’t skyrocket. In addition to basing our credit card rates on Prime, we also base interest rates on your credit and payment history. Members with outstanding credit could receive an APR* as low as over Prime. If you have less than perfect credit, you can still receive a great low rate.

Our Credit Cards Feature:

  • 0% Annual Percentage Rate for first six months on retail purchases and balance transfers

  • Low, flexible APR*

  • No annual fee

  • 25-day interest-free grace period

  • No balance transfer fees

  • No cash advance fees, plus you get the same rate as purchases*

  • Share Secured credit cards available

  • View transactions and make payments online

  • IF YOU ARE APPLYING FOR A CREDIT CARD, THE FOLLOWING IS YOUR REQUIRED DISCLOSURE INFORMATION - The information provided in this disclosure is accurate as of January 1, 2017. The information may have changed after that date. To find out what may have changed call us at (972) 715-4444 or write us. Before we approve you for a credit card, we will review your credit report, and the information you provide with your application to confirm that you meet the criteria for this offer. The full terms and conditions will be outlined in the MasterCard Credit Card Agreement and Disclosure which will be sent to you with the new card(s). How We Will Calculate Your Balance: We use a method called “Average Daily Balance (including new purchases)”.

Credit Card Rates:

Card Type Limit APR*
Platinum MasterCard $500.00 - up to 2x gross monthly income Variable - Prime plus -
Interest Rates and Interest Charges
ANNUAL PERCENTAGE RATE for Purchases MasterCard - 0% Introductory APR for first 6 months.
After that, 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.

MasterCard - 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.

MasterCard Secured - 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.
ANNUAL PERCENTAGE RATE for Balance Transfers MasterCard - 0% Introductory APR for first 6 months.
After that, 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.

MasterCard - 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.

MasterCard Secured - 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.
ANNUAL PERCENTAGE RATE for Cash Advances and Overdraft Protection MasterCard - 0% Introductory APR for first 6 months.
After that, 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.

MasterCard - 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.

MasterCard Secured - 4.95% up to 17.90% based on your creditworthiness when you open your account.
This APR* will vary with the market based on the Prime Rate.
Paying Interest Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date.
Minimum Interest Charge $1.00 for each statement period in which an interest charge is due.
For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at: http://www.consumerfinance.gov/learnmore
Fees
Annual Fees
Annual Fee
None
Transaction Fees
Balance Transfer
Cash Advance
Foreign Transactions
None
None
1.00% of each currency transaction in U.S. dollars
Penalty Fees
Over the Credit Limit
Late Payment
Returned Check Fee
None
5.00% of the payment, with a maximum of $25.00
$33.00

No annual fee – 3% minimum payment due each month
Annual Percentage Rate based on credit score and Prime Rate
*APR = Annual Percentage Rate. Introductory 0% APR does not apply to cash advances or secured credit cards. Cash advances default to your approved APR.

Secured Credit Cards

The perfect card to help you establish or rebuild your credit. Easy to qualify. You set your limit with the amount you have in your credit union savings account. Our secured credit cards feature the same benefits above with the following requirements:

  • 100% pledged in a secured savings account

  • Minimum card limit $500.00 which requires $500.00 pledge

  • Introductory Annual Percentage Rate not available on secured credit cards

  • Current APR* is determined by 12.90%+Prime Rate

  • As your credit improves, you can apply for an unsecured credit card and improve your interest rate

Contact Us

Auto Loans

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Auto Loans for New/Used Vehicles

Serving the Dallas-Fort Worth Area

Whether you're buying new or used, Prestige Community Credit Union offers competitive auto loan rates, flexible terms, and personal service you won't find at a dealership or big bank. Members can save thousands on financing, so before you spend hours waiting in the dealership, talk to one of our loan processors at (972) 715-4444. Or, for even faster approval, complete our online auto loan application.

Apply For An Auto Loan

With A Prestige Auto Loan, You’ll Get:

New or used, car or truck, our auto loans come with the same great benefits across the board:

  • Competitive low rates on new and used vehicles

  • Pre-approval available so you can shop with confidence

  • 100% financing available

  • Terms up to 72 months

  • Automatic payment options

Ways To Save:

We love finding ways to put money back in your pocket. When you set up automatic payments or add any of our auto protection products, you'll qualify for a rate discount* on your loan. Two simple choices that can make a real difference over the life of your loan.

  • Set up autopay: Enroll in automatic payments from your Prestige account and receive a rate discount. Simple, automatic, and it saves you money.

  • Add auto protection products: Bundle one or more of our auto protection products with your loan and qualify for an additional rate discount. (More on our auto protection options below.)

    • Mechanical Breakdown Protection

    • GAP

    • Omni Protect +

    • EVolve Elite

    • Credit Life and Disability Protection

*Subject to a maximum rate discount of 0.50% APR

Auto Loan Refinancing

Love your new car but hate the auto loan rate you received from the bank? Not to worry. It’s not too late. Our Auto Loan Refinance Program allows you to refinance your new car at our low rates.

When You Refinance Your Auto Loan From Another Lender With Prestige, You’ll Get:

  • 100% financing available

  • Terms up to 72 months

  • Automatic payment options

Auto Loans with the Prestige Payment Saver

The Best Choice in New and Pre-Owned Vehicle Financing. How would you like to finance your vehicle with an auto loan program that combines the best features of a conventional loan with the benefits of leasing? Prestige Payment Saver offers low monthly payments similar to a lease, plus the best part of conventional financing with an auto loan – actually owning the vehicle. 

Prestige Community Credit Union has the vehicle financing option to best fit your needs! The low monthly payments available through the Prestige Payment Saver give you more vehicle for your money. Under the Prestige Payment Saver, all new and pre-owned vehicles up to five years old are eligible and can be financed for up to 72 months. The Prestige Payment Saver is the vehicle financing option you’ve been waiting for.

With a Prestige Payment Saver, you’ll get:

  • Low monthly payments 

  • No down payment required 

  • No up-front fees 

  • Vehicle ownership (titled in your name) 

  • No higher insurance premium 

  • Option to Sell, Trade, Refinance, or Payoff at any time 

  • No early termination fees 

  • Return the Vehicle at Loan Maturity and simply “Walk away” 

  • Annual mileage options of 7,500, 10,000, 12,000, 15,000 & 18,000 are available

Want to find out how low your Prestige Payment Saver payment could be?

Prestige Payment Saver Calculator

Click the button above to go to the Prestige Payment Saver Calculator where you can build your car from the comfort of your own home. Or begin your application by using the link at the top of the page. For more information about the Prestige Payment Saver, call or visit Prestige Community Credit Union today.

Auto Loans for First-Time Buyers

If you are looking at buying your first vehicle and have very little or no credit, our First-Time Buyers Program Auto Loan might be just what you’re looking for. We would love to get you pre-approved for an auto loan, which can be a great bargaining tool. Call us or fill out an online auto loan application today!

With a Prestige First-Time Buyer Program Auto Loan, You’ll Get:

  • Amounts up to $15,000.00 on an individual basis or $20,000.00 with a qualified cosigner (parent)

  • Competitive rates available

  • Pre-approval available

  • Terms up to 60 months

First-Time Buyer Program Auto Loan Qualifications:

  • Must be between the ages of 18 and 27 years old

  • Individual or family member must be a credit union member for at least one year

  • Minimum of one year at current job, unless have a qualified cosigner

  • Proof of income of at least $1,500.00 a month

  • Minimum 10% down payment of MSRP or NADA retail value (not including rebates)

  • Automatic payments required

  • No credit required*

  • Proof of auto insurance required prior to funding

  • Refinance if purchased in last six months is acceptable

  • Auto may not be over 10 years of age from current year

Not sure if you meet the qualifications? Give us a call at 972-715-4444 and we can discuss your situation.

*Subject to credit approval. Must be eligible for membership at Prestige Community Credit Union. There must be no previous vehicle credit history or derogatory credit history.

Auto Loans for Environmentally Friendly Vehicles

Prestige wants to do our part for the environment! We have created a unique pricing model on our auto loans for new and used fuel-efficient vehicles. Our Green Car Pricing program offers a discounted rate on auto loans for hybrid vehicles or any vehicle that has an Environmental Protection Agency (EPA) highway rating of 30 miles per gallon or greater.

The U.S. Department of Energy has partnered with the EPA to provide a consumer site that allows you to compare cars side by side to find out their miles per gallon, greenhouse gas emissions and safety information. You should consider using the EPA’s guide to purchasing a green vehicle; it provides great tips on how to choose the cleanest and most fuel efficient vehicle that meets your needs.

View EPA's Tips

With A Prestige Green Car Discount, You’ll Get:

  • 10 basis points off of your qualified auto loan rate

Requirements:

  • Must have eDocuments

  • EPA rating of 30 miles per gallon or better

Auto Protection Products

When you finance your vehicle with Prestige, you also get access to a suite of protection products designed to keep you covered long after you drive off the lot.

  • If your car is ever totaled or stolen, your regular auto insurance may not cover what you still owe on your loan. That's because most policies only pay out the current market value of your vehicle, which can be significantly less than your remaining balance. GAP Plus covers that difference, so you're not left paying out of pocket for a car you no longer have.

    See More Information

  • Your car is one of your biggest investments, and the unexpected has a way of showing up when you least expect it. Omni Protect+ is a comprehensive vehicle protection package that goes beyond standard coverage to keep your car looking and running its best.

    From windshield chips and paintless dent repair to tire and wheel protection, cosmetic wheel coverage, interior and exterior reconditioning, and key replacement, Omni Protect+ has the everyday surprises covered. It even includes 24/7 roadside assistance and nationwide service, so you're never left stranded.

    It's the kind of protection that quietly takes care of the small stuff, before it becomes expensive.

    See More Information

  • Most costly mechanical and electrical failures happen after your factory warranty expires, and repair bills can add up fast. Mechanical Breakdown Protection gives you affordable coverage that steps in when your manufacturer's warranty leaves off, so an unexpected breakdown doesn't become a financial burden.

    Coverage options range from powertrain essentials like your engine and transmission to more comprehensive plans that cover your cooling system, brakes, steering, fuel system, electronics, and more. Every plan also includes four built-in benefits at no extra cost: roadside assistance, rental vehicle reimbursement, tire road hazard protection, and trip interruption coverage for breakdowns that happen far from home.

    See More Information

  • The EVolve Electric Vehicle Service Contract is designed specifically for EV owners, providing breakdown protection for your vehicle's original factory-installed mechanical and electrical parts and assemblies.

    From your internal charger and touchscreen to your HVAC system, autonomous driving sensors, and air suspension, EVolve covers the components that matter most to EV owners. And because repairs on electric vehicles can carry a hefty price tag, having the right protection in place from the start is a smart move.

    Every EVolve contract also includes four additional benefits: substitute transportation including car rental and rideshare reimbursement, trip interruption coverage up to $100 a day for up to three days, tire road hazard protection with no deductible, and roadside assistance including towing, lockout help, and flat tire assistance.

    See More Information

Our Auto Partners

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D&M Logo

D&M Leasing

Many people don’t understand how the leasing process truly works or how to determine if it’s the best deal for them. That is why we have teamed up with D&M Leasing. Together, we can find the best deal for you. If you have questions about leasing or would like to explore your options, contact Gary Charlton from D&M Leasing at (469) 659-6278 for straightforward guidance and personalized assistance.

Visit D&M Auto Leasing
Enterprise Car Sales

Enterprise Car Sales

Looking for your next vehicle? Enterprise offers a great selection of used vehicles at competitive prices. Every car has been thoroughly inspected by an ASE-Certified Technician, so you know exactly what you're getting.

Visit Enterprise Car Sales
AutoSMART

Car Shop with AutoSMART

Are you ready to find the perfect car? We can help with AutoSmart! Visit our online car-buying resource center and research thousands of new, used, and certified pre-owned vehicles. You can also customize your search by matching style and budget or by building your own ideal car.

Shop For A Vehicle

Home Loans

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Mortgage Loans for Your Next Home

Are you looking to buy the home of your dreams? Together, we can help tailor a new home mortgage loan to fit your needs.

Our home mortgage loan rates change daily.

Prestige Offers the Following Home Mortgage Loan Options:

  • Fixed Rate Mortgage Loans

  • Adjustable Rate Mortgage (ARM)

  • Jumbo Loans

  • And more!

In Addition to Great, Low Mortgage Loan Rates, You’ll Enjoy:

  • Affordable closing costs

  • Easy home loan application process

  • No prepayment penalties

  • Convenient automatic payment options

HOME LOAN APPLICATION AND MORTGAGE RATES

Home Mortgage Loan Refinance

If your current mortgage loan rate is over market rates, let us save you money by refinancing your home loan. We may be able to save you hundreds of dollars each month. Apply today before the rates go too high.

Our home mortgage loan rates change daily. 

  • Great, low rates

  • Affordable closing costs

  • No application fee

  • Easy application process

  • Multiple loan term options

HOME LOAN APPLICATION AND MORTGAGE RATES

Student Loans

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Cover the Cost of Education with an Undergraduate Student Loan

Prestige Community CU is partnering with Higher Education Servicing Corporation to offer students their Texas Extra Credit Education Loans to help Texas residents attending approved colleges or universities anywhere in the country pay for their higher education when scholarships, grants, and other financial aid just aren’t enough. Check out our student loan options and see which works best for you.

Need Money for College?

Continuing your education is more important than ever, and so is making smart financial decisions when it comes to paying for that education, which is why we offer the Texas Extra Credit Education Loan through our partner, Higher Education Servicing Corp. Texas Extra Credit is a private student loan developed specifically to help Texas residents pay for college when scholarships, grants and federal aid just aren’t enough to cover the full cost of attendance (see Important Notice on this page).

Learn more about Texas Extra Credit’s program features, valuable borrower benefits, and repayment options below.


Apply For An Undergraduate Student Loan

Undergraduate Student Loan Program Features

  • Complete your student loan application online in as little as 15 minutes - initial credit decisions are typically made within minutes1
  • Competitive fixed rates as low as 2.49% APR(with Auto Pay Discount 5 and Graduation Benefit4) to 7.58% APR2
  • Borrow from $1,000 to $80,000 annually.
  • Maximum aggregate loan limit is $160,000, inclusive of all student loan debt
  • Satisfactory Academic Progress (SAP) not required
  • No application, origination or disbursement fees

Undergraduate Student Loan Benefits

  • 0.25% interest rate reduction just for graduating4
  • 0.25% interest rate reduction just for auto-debit payments5
  • Cosigner release after the first 24 consecutive on-time monthly student loan payments6
  • Death Forgiveness7
  • Total & Permanent Disability Forgiveness8

Undergraduate Student Loan Repayment

  • Choose from our three repayment options: Immediate, Interest-Only or Fully Deferred Repayment6
  • Choice of 5, 10, or 15 - year repayment terms

Undergraduate Student Loan Eligibility

  • Student borrower must be enrolled at least half time in an undergraduate degree-granting program (as certified by the school) at an approved school
  • Student borrower and cosigner (if applicable) must be permanent residents of Texas
  • The applicant applying as creditworthy (i.e. the cosigner or the student applying without a cosigner) must earn at least $30,000 and provide proof of current income
  • Student borrower and cosigner (if applicable) must be United States citizens/nationals or lawful permanent resident aliens of the United States

Start Your Student Loan Application Today

Completing the online student loan application takes as little as 15 minutes. And the application makes it easy to invite a co-signer to the process, mix and match loan options, and compare loan scenarios, so you can select a loan that's right for you.

And don't worry, if you don't have all of the necessary information to complete your application, we'll save it (securely) for you.


Important Notice

We highly recommend students apply for and utilize all federal student aid programs through the Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov prior to applying for any private student loan.


Texas Extra Credit

M-F, 8am to 5pm CT
1-877-817-9158
info@hescloans.com


APPLY FOR A STUDENT LOAN



What You'll Need to Apply

  • Bio/Demo Information
  • Employment History
  • Financial Information
  • Reference




Have Questions? We Have Answers!

Frequently Asked Questions About Student Loans

Student Loan Information & Details

  • Why does a cosigner help?
    Applying with a cosigner who has good credit and income can help you satisfy credit criteria and may increase your chances of passing the initial credit review and receiving a lower interest rate. Most students will need a cosigner to qualify. In a cosigned application, both you and your cosigner intend to (a) jointly apply for credit and (b) be jointly liable for the requested loan.
  • Why is the program only offered to Texas residents?
    Higher Education Servicing Corporation administers its Texas Extra Credit Education Loan program under the authority provided to it in Chapter 53B of the Texas Education Code, which limits our program to serve only Texas residents.
  • Why can't I find my school on the approved school list?
    The Texas Extra Credit Education loan program is only available for Title IV eligible institutions that offer a Bachelor’s degree or higher.
  • Can I apply for funds to pay for housing and meal plans?
    Yes, you can borrow funds through our loan program to cover the cost of housing and meal plans; however, your school must certify your loan application indicating you are eligible to receive the loan amount requested.
  • Can I refinance all my loans into one once I graduate?
    We currently don't have a refinance program, but we're working on it! Make sure to check back soon.
  • How much can I borrow?
    The minimum loan amount is $1,000 and the maximum you can borrow is determined by the school you are attending, but is limited to the lesser of your cost of attendance less other aid or $80,000.
  • Are there out-of-pocket fees for obtaining this loan?
    No, there are no application, origination or disbursement fees.
  • Who is the lender for the Texas Extra Credit Education Loan program?
    The lender for the Texas Extra Credit Education Loan program is Higher Education Servicing Corp., a Texas-based private, non-profit organization established in 1978 to ensure Texas students and families have access to low-cost education loans in order to achieve a higher education.

Credit History & Information

  • Why is a credit check necessary?
    The credit check serves two main purposes. First, it is used to verify the identity of all people signing the application. Second, it's used for qualification purposes and helps us offer you the best pricing we can based on your credit history.
  • What factors are used in the initial credit review?
    The initial credit review considers all of the information you and your cosigner (if applicable) provide during the application process, and the information obtained from your credit report. If you pass the credit review, we will need to receive your income verification, school certification, and Applicant Self-Certification Form before final loan approval.
  • What if I have no credit history?
    Students can apply with a cosigner to help meet creditworthiness guidelines and increase their chances of passing the initial credit review. If a student does not have credit history, we recommend applying with a cosigner who does.

Student Loan Application Details & Instructions

  • Do I need to apply for Federal Aid before applying for this loan?
    We suggest you exhaust all Federal aid, grants and scholarships before applying for this loan. Completion of the FAFSA however, is not a requirement for the Texas Extra Credit Education Loan.
  • What options do you offer to complete the loan application?
    The loan application must be completed online to be accepted for review. If you are unable to electronically sign your application, it can be faxed or mailed to our offices.
  • How long will it take to complete the application process?
    The approval process can take from 1 -2 business days depending on how quickly you’re able to submit all required documentation. Once the loan has been approved and you have signed the loan application, we will send the School a request to certify the loan. It normally takes schools anywhere from 8 – 12 business days to complete this certification request depending on the time of the year.
  • How early should I apply?
    We recommend that you begin the application process at least 30 days before the semester begins – this should allow for ample time to complete the application and submit any required documentation.

Personal & Financial Information

  • What is the difference between a U.S. Citizen and a Permanent Resident?
    U.S. Citizen - A person who was born in the United States, including the lower 48 states, Alaska, Hawaii, Puerto Rico, Guam, and the U.S. Virgin Islands; or who became a citizen through naturalization; or who was born outside the United States to U.S. Citizen parents under qualifying circumstances (derivative citizenship) and who has not renounced U.S. citizenship.

    Permanent Resident - Any person not a citizen of the United States who is residing in the U.S. under legally recognized and lawfully recorded permanent residence as an immigrant. Also known as "Permanent Resident Alien," "Lawful Permanent Resident," "Resident Alien Permit Holder," and "Green Card Holder."
  • Will the funds be deposited into my personal account?
    All funds are sent directly to your school. Once your tuition and fees (and any other amount you may owe the school) is satisfied, any excess funds will be disbursed to you by the school.
  • What is the difference between permanent address and mailing address?
    Your permanent address is the location that you consider to be your primary place of residence (like your parents' or guardian's address). Your mailing address is wherever you want to receive all of your loan documents.
  • Why do you need a personal reference from me?
    We need a personal reference as an additional means of contacting you during the servicing of your loan. If we are not able to reach the student or cosigner on the loan we will contact your personal reference.
  • Why is my Social Security number needed?
    We use your Social Security number to verify your identity and to check your credit history.
  • Who can I use as a reference?
    Your reference can be anyone over the age of 18, as long as he or she is not living at the same address as you. If you are applying with a cosigner, you cannot use him or her as your reference, nor can your reference live at the same address as your cosigner. Lastly, you and your cosigner cannot use the same reference.
  • What qualifies as income?
    Primary sources of income typically reflect employment earnings, but may also come from other sources such as retirement or rental income.

Student Loan Repayment

  • Is there a penalty for pre-payment or paying the loan off early?
    No, you can pay your loan off early regardless of your repayment terms without any penalty. You will only be charged the amount of interest that has accrued on the loan until the day the loan is paid off.
  • Which repayment type should I choose?
    Making payments of any type during the in-school period can significantly reduce the total cost of your loan. If you select a repayment type that requires an in-school payment, all payments must be made on time during the in-school period.

Disclaimers

  1. The initial credit review is based on review of all the information you and your cosigner (if applicable) provide during the application process and the information obtained from your credit report(s). If you pass the initial credit review, you will need to provide acceptable documentation such as your income verification and Applicant Self-Certification Form and we will need the certification from your school before the final loan approval.
  2. The current fixed interest rates range from 2.79% to 8.24% in effect as of 7/1/2026. The fixed interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the applicant’s and cosigner’s (if applicable) credit histories (2) the repayment option and loan term selected, and (3) the requested loan amount and other information provided on the online loan application. If approved, the applicant(s) will be notified of the rate qualified for within the stated range. APRs range from 2.49% (with Auto Pay Discount5 and Graduation Benefit4) to 7.58%. Lowest rates are only available for the most creditworthy applicants. The APR reflects the estimated total cost of the loan, including upfront fees, accruing interest and the effect of capitalized interest. The lowest APR example is based on a $10,000 loan disbursed in a single transaction, a 5-year repayment term (60 months), an immediate repayment plan, an interest rate of 2.54%, and monthly principal and interest payments of $177.65. The lowest APR example includes a 0.25% interest rate reduction for payments via Auto Pay5 and a 0.25% interest rate reduction Graduation Benefit4 applied 49 months into repayment. The highest APR example is based on a $10,000 loan disbursed over two transactions, a 15-year repayment term (180 months), a deferred repayment plan with a deferment period of 60 months upon initial disbursement, a six-month grace period before repayment begins, a 8.24% interest rate, and monthly principal and interest payments of $139.57. The fixed interest rate assigned to a loan will never change except as required by law or if you request and qualify for the Auto Pay Discount5 or Graduation Benefit4. Repayment terms and options available may vary depending upon the amount borrowed.
  3. Program loans may be used to cover educational expenses for academic periods that end up to 180 days prior to the application date.
  4. Student borrowers who earn a bachelor’s degree or higher will receive a 0.25% interest rate reduction if (a) they have made no more than one (1) late payment (more than 10 days late) on the loan, (b) they request the benefit from the servicer within one (1) year after graduation, and (c) they provide proof of graduation to the servicer. Borrowers are only eligible to receive one (1) 0.25% interest rate reduction Graduation Benefit per loan, regardless of the number of degrees they may earn. The interest rate reduction will only apply to the loan(s) you received for the degree earned. If you apply for an additional loan after receiving the initial interest rate reduction and you earn another bachelor’s degree or higher, you may request the interest rate reduction be applied to the subsequent loan(s) as long as you meet the stated eligibility requirements at the time of the subsequent request. The student must request this benefit via phone, email or mail and must provide either a certified copy of a diploma or a certified transcript. Upon the servicer’s review and acceptance of the student's documentation, the servicer shall send a confirmation letter stating that the graduation benefit has been granted.
  5. An interest rate reduction of 0.25% is available for borrowers who make monthly electronic funds transfer (EFT) payments of principal and interest from a savings or checking account. To qualify, the borrower needs to arrange with the loan servicer to automatically deduct monthly principal and interest payments from a bank account. The automatic payment benefit will discontinue and be lost for the remaining repayment period in the event any three payments are returned for insufficient funds over the life of the loan. This benefit is not available for interest payments made during the deferment period for the Interest Only Repayment option. This benefit may be terminated during deferment and forbearance periods, but can be re-established if borrower reapplies at the end of the deferment or forbearance period.
  6. Request for the cosigner to be released can be made after the first 24 consecutive, on-time monthly payments (not later than ten days after the due date) of principal and interest have been made. At the time of request for cosigner release, the student borrower must (a) meet credit criteria in place for cosigner release, (b) be currently enrolled for automatic deduction of monthly payments from a savings or checking account at the time of the cosigner release application, and (c) must have had at least one payment deducted electronically from such bank account prior to the time of the cosigner release application. Lump sum payments will count as a single payment. If the borrower is granted a forbearance or makes a lump sum payment in excess of the monthly payment amount during the first 24 months of the Repayment Period that permits the borrower to skip one or more scheduled monthly payments, the borrower may lose the ability to qualify for the Cosigner Release Benefit.
  7. If the student Borrower should die while enrolled at least half-time at an eligible institution, and the Loan is not in default, the student Borrower’s estate and each Cosigner (or Cosigner’s estate, if applicable) will be released from the Loan and the Servicer shall write down any outstanding principal and accrued interest balance on the Loan to a zero balance if the Servicer receives acceptable proof of death and proof of enrollment at an eligible institution at the time of death. If the student Borrower dies and the Loan is cosigned and does not qualify to be written down to zero, the Loan will be charged off and the Cosigner (or Cosigner’s estate, as applicable) will be released from any further obligation. The Servicer may attempt to file a claim against the student Borrower’s estate for any unpaid debt under this Credit Agreement. Any payments received from the student Borrower’s estate, less collection costs, will be applied to all applicable Loan(s). If the student Borrower dies for a Borrower only Loan and the Loan does not qualify to be written down to zero, the Loan will become a charge off Loan. The Servicer may attempt to file a claim against the student Borrower’s estate for any unpaid debt under this Credit Agreement. Any payments received from the student Borrower’s estate, less collection costs, will be applied to all applicable Loan(s). If a Cosigner dies, the Servicer will continue to service the Loan in accordance with the Credit Agreement as the student Borrower is still obligated to the debt. The Servicer may attempt to file a claim against the Cosigner’s estate for any unpaid debt under this Credit Agreement. Any payments received from the Cosigner’s estate, less collection costs, will be applied to all applicable Loan(s). If the student Borrower, Cosigner, or any of their respective estates are released from obligations under this section, no refund will be paid for prior payments made on the Loan.
  8. In the event a student Borrower becomes Totally and Permanently Disabled, the student Borrower, or his/her representative, may contact the Servicer by phone or mail to request information regarding the Lender’s Total and Permanent Disability (TPD) discharge. Any Loan that has not previously become a charged off Loan or that is not currently in default may be discharged due to the student Borrower’s Total and Permanent Disability, as defined by the Lender’s TPD Terms and Application. The definition of TPD, the application form for a TPD discharge, the required supporting documentation, and other terms, limitations, conditions and requirements for a TPD discharge (“TPD Terms”) can be obtained by contacting the Lender or Servicer by phone or mail. The Servicer must receive a completed TPD Application within the timeframe stated within the application that complies with the requirements set forth by the Lender for a Loan to be discharged. If the student Borrower meets the TPD requirements set forth by the Lender, the Servicer shall write down any outstanding principal and accrued interest balance on the Loan to a zero balance (if the Loan has a Cosigner, the Cosigner’s obligation to the Loan will be canceled). For additional information regarding TPD or to request an application, contact the Loan Servicer.

Help Your Student Pay for College with a Parent Loan

If you’re a parent, family member or other creditworthy individual interested in paying for a student’s higher education expenses, a Texas Extra Credit Parent Loan may be the answer you’ve been looking for! With competitive fixed interest rates, a variety of repayment terms and options and valuable borrower benefits, the Texas Extra Credit Parent Loan is a great, low-cost loan option to help a student achieve their higher education dreams without breaking the bank.

Learn more about Texas Extra Credit’s Parent Loan program features, benefits and repayment options below.

Parent Loan Program Features

  • Repayment of the loan is the sole responsibility of the borrower; the student holds no responsibility to the loan
  • Initial credit decision is typically made within minutes1
  • Competitive Fixed APRs ranging from 2.64% (with Auto Pay Discount 5) to 7.80% 2
  • Borrower from $1,000 up to cost of attendance annually (loans are certified by the student beneficiary's school and may not exceed full cost of education minus other financial aid)
  • Maximum aggregate loan limit is $400,000, inclusive of all education loan debt
  • Satisfactory Academic Progress (SAP) not required
  • No application, origination or disbursement fees

Parent Loan Borrower Benefits

  • 0.25% interest rate reduction of for Auto Debit payments 5
  • Death Forgiveness for student beneficiary 4
  • Discharge for Total & Permanent Disability 6

Parent Loan Repayment

  • Choose from three repayment options: Fully Deferred, Interest Only, or Immediate Repayment
  • Choice of 5, 10, or 15- year repayment term

Parent Loan Eligibility Requirements

  • The student beneficiary must be enrolled at least half time in an undergraduate degree-granting program (as certified by the school) at an approved school
  • The borrower must be a permanent resident of Texas
  • The borrower must be at least eighteen years old at the time of the loan application
  • The borrower must meet certain income requirements and must earn at least $30,000 and submit verification of current income
  • The borrower must be a United States citizen/national or lawful permanent resident alien of the United States

What You'll Need to Apply for a Parent Loan

  • Bio/Demo Information
  • Employment History
  • Financial Information
  • Student Beneficiary’s Bio/Demo Information
  • Student Beneficiary’s School Information
  • Reference

Important Notice

We highly recommend students apply for and utilize all federal student aid programs through the Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov prior to applying for any private student loan.


Texas Extra Credit

M-F, 8am to 5pm CT
1-877-817-9158
info@hescloans.com


APPLY FOR A PARENT LOAN






Have Questions? We Have Answers!

Frequently Asked Questions About Parent Loans

Parent Loan Information & Details

  • Is the Parent Loan limited to only parents of the student?
    No, anyone can apply on behalf of the student beneficiary.
  • Can I apply with a cosigner to qualify?
    Unfortunately, we do not allow cosigners to be added to a Parent Loan.
  • Why can't I find my school on the approved school list?
    The Texas Extra Credit Education loan program is only available for Title IV eligible institutions that offer a Bachelor’s degree or higher.
  • Can I apply for funds to pay for housing and meal plans?
    Yes, you can borrow funds through our loan program to cover the cost of housing and meal plans; however, the student’s school must certify your loan application indicating the loan amount you are eligible to receive based on the student’s financial aid/need.
  • How much can I borrow?
    The minimum loan amount is $1,000 and the maximum you can borrow is determined by the school the student is attending, but is limited to the lesser of the student's cost of attendance less other aid.
  • Are there out-of-pocket fees for obtaining this loan?
    No, there are no application, origination or disbursement fees.
  • Who is the lender for the Texas Extra Credit Education Loan program?
    The lender for the Texas Extra Credit Education Loan program is Higher Education Servicing Corp., a Texas-based private, non-profit organization established in 1978 to ensure Texas students and families have access to low-cost education loans in order to achieve a higher education.

Credit History & Information

  • Why is a credit check necessary?
    The credit check serves two main purposes. First, it is used to verify the identity of all people signing the application. Second, it's used for qualification purposes and helps us offer you the best pricing we can based on your credit history.
  • What factors are used in the initial credit review?
    The initial credit review considers all of the information you and your cosigner (if applicable) provide during the application process, and the information obtained from your credit report. If you pass the credit review, we will need to receive your income verification documents, signed Loan Agreement and Applicant Self-Certification Form and the Student Consent Form (to be completed by the student beneficiary) before final loan approval.

Application Details & Instructions

  • Do I need to apply for Federal Aid before applying for this loan?
    No, you are not required to apply for Federal Aid before applying for our loan program.
  • What options do you offer to complete the loan application?
    The loan application must be completed online to be accepted for review. If you are unable to electronically sign your application, it can be faxed or mailed to our offices.
  • How long will it take to complete the application process?
    The approval process can take from 1 -2 business days depending on how quickly you’re able to submit all required documentation. Once the loan has been approved and you have signed the loan application, we will send the School a request to certify the loan. It normally takes schools anywhere from 8 – 12 business days to complete this certification request depending on the time of the year.
  • How early should I apply?
    We recommend that you begin the application process at least 30 days before the semester begins – this should allow for ample time to complete the application and submit any required documentation.

Personal & Financial Information

  • What is the difference between a U.S. Citizen and a Permanent Resident?
    U.S. Citizen - A person who was born in the United States, including the lower 48 states, Alaska, Hawaii, Puerto Rico, Guam, and the U.S. Virgin Islands; or who became a citizen through naturalization; or who was born outside the United States to U.S. Citizen parents under qualifying circumstances (derivative citizenship) and who has not renounced U.S. citizenship.

    Permanent Resident - Any person not a citizen of the United States who is residing in the U.S. under legally recognized and lawfully recorded permanent residence as an immigrant. Also known as "Permanent Resident Alien," "Lawful Permanent Resident," "Resident Alien Permit Holder," and "Green Card Holder."
  • Will the funds be deposited into my personal account?
    All funds are sent directly to your school. Once your tuition and fees (and any other amount you may owe the school) are satisfied, any excess funds will be disbursed to the student by the school.
  • Who can I use as a reference?
    Your reference can be anyone over the age of 18, as long as he or she is not living at the same address as you.
  • Why do you need a personal reference from me?
    We need a personal reference as an additional means of contacting you during the servicing of your loan.
  • Why is my Social Security number needed?
    We use your Social Security number to verify your identity and to check your credit history.
  • What qualifies as income?
    Primary sources of income typically reflect employment earnings, but may also come from other sources such as retirement or rental income.
  • Why is the program only offered to Texas residents?
    Higher Education Servicing Corporation administers its Texas Extra Credit Education Loan program under the authority provided to it in Chapter 53B of the Texas Education Code, which limits our program to serve only Texas residents.

Parent Loan Repayment

  • Is there a penalty for pre-payment or paying the loan off early?
    No, you can pay your loan off early regardless of your repayment terms without any penalty. You will only be charged the amount of interest that has accrued on the loan until the day the loan is paid off.
  • Do I have to make payments on my loan while the student beneficiary is enrolled in school?
    If you select the Immediate Repayment option or Interest-Only Repayment option, you will be responsible to make payments on the loan while the student beneficiary is enrolled in school. If you select the Full Deferment Repayment option, payments will be deferred for up to 66 months while the student beneficiary is continuously enrolled at an approved school at least half-time.

Disclaimers

  1. The initial credit review is based on review of all the information you and your cosigner (if applicable) provide during the application process and the information obtained from your credit report(s). If you pass the initial credit review, you will need to provide acceptable documentation such as your income verification and Applicant Self-Certification Form and we will need the certification from your school before the final loan approval.
  2. The current fixed interest rates range from 2.89% to 8.49% in effect as of 7/1/2026. The fixed interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the applicant’s credit history (2) the repayment option and loan term selected, and (3) the requested loan amount and other information provided on the online loan application. If approved, the applicant will be notified of the rate qualified for within the stated range. APRs range from 2.64% (with Auto Pay Discount5) to 7.80%. Lowest rates are only available for the most creditworthy applicants. The APR reflects the estimated total cost of the loan, including upfront fees, accruing interest and the effect of capitalized interest. The lowest APR example is based on a $10,000 loan disbursed in a single transaction, a 5-year repayment term (60 months), an immediate repayment plan, an interest rate of 2.64%, and monthly principal and interest payments of $178.09. The lowest APR example includes a 0.25% interest rate reduction for payments via Auto Pay5. The highest APR example is based on a $10,000 loan disbursed over two transactions, a 15-year repayment term (180 months), a deferred repayment plan with a deferment period of 60 months upon initial disbursement, a six-month grace period before repayment begins, a 8.49% interest rate, and monthly principal and interest payments of $142.99. The fixed interest rate assigned to a loan will never change except as required by law or if you request and qualify for the Auto Pay Discount5. Repayment terms and options available may vary depending upon the amount borrowed
  3. Program loans may be used to cover educational expenses for academic periods that end up to 180 days prior to the application date.
  4. Student borrowers who earn a bachelor’s degree or higher will receive a 0.25% interest rate reduction if (a) they have made no more than one (1) late payment (more than 10 days late) on the loan, (b) they request the benefit from the servicer within one (1) year after graduation, and (c) they provide proof of graduation to the servicer. The student must request this benefit via phone or mail and must provide either a certified copy of a diploma or a certified transcript. Upon the servicer’s review and acceptance of the student's documentation, the servicer shall send a confirmation letter stating that the graduation benefit has been granted.
  5. An interest rate reduction of 0.25% is available for borrowers who make monthly electronic funds transfer (EFT) payments of principal and interest from a savings or checking account. To qualify, the borrower needs to arrange with the loan servicer to automatically deduct monthly principal and interest payments from a bank account. The automatic payment benefit will discontinue and be lost for the remaining repayment period in the event any three payments are returned for insufficient funds over the life of the loan. This benefit is not available for interest payments made during the deferment period for the Interest Only Repayment option. This benefit may be terminated during deferment and forbearance periods, but can be re-established if borrower reapplies at the end of the deferment or forbearance period.
  6. Request for the cosigner to be released can be made after the first 24 consecutive, on-time monthly payments (not later than ten days after the due date) of principal and interest have been made. At the time of request for cosigner release, the student borrower must (a) meet credit criteria in place for cosigner release, (b) be currently enrolled for automatic deduction of monthly payments from a savings or checking account at the time of the cosigner release application, and (c) must have had at least one payment deducted electronically from such bank account prior to the time of the cosigner release application. Lump sum payments will count as a single payment. If the borrower is granted a forbearance or makes a lump sum payment in excess of the monthly payment amount during the first 24 months of the Repayment Period that permits the borrower to skip one or more scheduled monthly payments, the borrower may lose the ability to qualify for the Cosigner Release Benefit.
  7. If the student Borrower should die while enrolled at least half-time at an eligible institution, and the Loan is not in default, the student Borrower’s estate and each Cosigner (or Cosigner’s estate, if applicable) will be released from the Loan and the Servicer shall write down any outstanding principal and accrued interest balance on the Loan to a zero balance if the Servicer receives acceptable proof of death and proof of enrollment at an eligible institution at the time of death. If the student Borrower dies and the Loan is cosigned and does not qualify to be written down to zero, the Loan will be charged off and the Cosigner (or Cosigner’s estate, as applicable) will be released from any further obligation. The Servicer may attempt to file a claim against the student Borrower’s estate for any unpaid debt under this Credit Agreement. Any payments received from the student Borrower’s estate, less collection costs, will be applied to all applicable Loan(s). If the student Borrower dies for a Borrower only Loan and the Loan does not qualify to be written down to zero, the Loan will become a charge off Loan. The Servicer may attempt to file a claim against the student Borrower’s estate for any unpaid debt under this Credit Agreement. Any payments received from the student Borrower’s estate, less collection costs, will be applied to all applicable Loan(s). If a Cosigner dies, the Servicer will continue to service the Loan in accordance with the Credit Agreement as the student Borrower is still obligated to the debt. The Servicer may attempt to file a claim against the Cosigner’s estate for any unpaid debt under this Credit Agreement. Any payments received from the Cosigner’s estate, less collection costs, will be applied to all applicable Loan(s). If the student Borrower, Cosigner, or any of their respective estates are released from obligations under this section, no refund will be paid for prior payments made on the Loan.
  8. In the event a student Borrower becomes Totally and Permanently Disabled, the student Borrower, or his/her representative, may contact the Servicer by phone or mail to request information regarding the Lender’s Total and Permanent Disability (TPD) discharge. Any Loan that has not previously become a charged off Loan or that is not currently in default may be discharged due to the student Borrower’s Total and Permanent Disability, as defined by the Lender’s TPD Terms and Application. The definition of TPD, the application form for a TPD discharge, the required supporting documentation, and other terms, limitations, conditions and requirements for a TPD discharge (“TPD Terms”) can be obtained by contacting the Lender or Servicer by phone or mail. The Servicer must receive a completed TPD Application within the timeframe stated within the application that complies with the requirements set forth by the Lender for a Loan to be discharged. If the student Borrower meets the TPD requirements set forth by the Lender, the Servicer shall write down any outstanding principal and accrued interest balance on the Loan to a zero balance (if the Loan has a Cosigner, the Cosigner’s obligation to the Loan will be canceled). For additional information regarding TPD or to request an application, contact the Loan Servicer.
Prestige Community CU is partnering with Higher Education Servicing Corporation to offer the Texas Extra Credit Education Loan. This is a private student loan program designed specifically for Texas residents attending approved colleges or universities anywhere in the country.

It’s Here! Refinance Your Student Loans Today!

With fixed rates ranging from 3.95% (with Auto Pay) to 9.16% APR!2

Refinancing your eligible federal and/or private student loans has never been easier! The NEW Texas Extra Credit Refinance Loan Program through our partner, Higher Education Servicing Corporation (HESC) offers a fast, hassle-free way to combine your eligible federal and/or private education loans into a new loan and potentially lower your monthly student loan payment.

Lower rates mean more money for what matters most—whether that’s saving, investing or simply enjoying life. With competitive fixed interest rates, no application fees, flexible repayment terms and valuable borrower benefits, the Texas Extra Credit Refinance Loan offers a smart, affordable way to take control of your student debt. Plus, you can view your interest rate eligibility in minutes with their easy prequalification process without affecting your credit!

Greater Financial Flexibility Starts NOW!


APPLY TODAY

Eligible Loan Types

  • Federal Family Education Loan Program (FFELP) and Direct Loan (DL) Undergraduate and Graduate Loans including Subsidized, Unsubsidized, Parent PLUS, Grad PLUS, Consolidation, Perkins, Health Education Assistance Loan (HEAL), Supplemental Loans for Students (SLS), Health Professions Student Loan (HPSL) and Spousal Consolidations
  • Private loans including Student, Family/Parent/Sponsor, Graduate, Refinance and Consolidation

Program Features

  • Fixed interest rates ranging from 3.95%(with auto pay)-9.16% APR
  • Simple online loan application takes as little as 5 minutes to complete
  • No-risk prequalification process to determine interest rate eligibility in seconds without affecting the applicant’s credit
  • Immediate repayment
  • 5, 10 or 15-year repayment terms
  • Borrowers can refinance from $7,500-$200,000
  • No application, origination or disbursement fees

Benefits

  • 0.25% interest rate reduction for auto debit payments3
  • Total & Permanent Disability Forgiveness8

Eligibility Requirements

  • All loans to be refinanced must have been fully disbursed to a Title IV institution of higher education within the United States, be considered a qualified education loan6 and have been used to cover qualified higher education expenses7
  • The applicant must have earned a bachelor’s degree or higher from a Title IV institution of higher education
  • The applicant must be a permanent resident of Texas
  • The applicant must be a United States citizen/national or lawful permanent resident alien of the United States
  • The applicant must be at least the age of majority at the time of the Refinance Loan Application based on the Applicant’s state of residence (i.e., 18 years old in Texas)
  • The applicant must be currently employed, unless retired, have a positive income of at least $50,000, and submit verification of current stated income claimed in the application

Important Information

Higher Education Servicing Corporation (HESC) is the lender and loan originator for the Texas Extra Credit Education Loan program(s). HESC is responsible for all private education loan processing and communications with the borrower(s) throughout the application process. Questions related to the application process or the status of your loan should be directed to HESC at info@hescloans.com. You can also contact HESC at 877-817-9158, Monday thru Friday from 8:00 a.m. to 5:00 p.m. CT.


Notice

Please be aware that if you intend to refinance federal education loans, you will no longer qualify for potential loan forgiveness through the Department of Education or the income-based repayment option. Please be aware you will also lose special benefits such as public service loan forgiveness and economic hardship programs if you refinance federal education loans.


What You'll Need to Apply

  • Bio/Demo Information
  • Employment History
  • Financial Information
  • Reference

Start Your Application Today

Completing the online loan application takes as little as 5 minutes. And with Texas Extra Credit’s risk-free prequalification process, it’s easy to see what rates you may qualify for—helping you choose the loan that’s right for you and your goals!

And don't worry, if you don't have all of the necessary information to complete your application, we'll save it (securely) for you.


APPLY TODAY







Have Questions? We Have Answers!

Frequently Asked Questions About Refinancing

Refinance Loan Info

  • What is the difference between consolidating and refinancing student loans?
    Student loan consolidation is when you combine multiple loans into one new loan. To determine the new interest rate for a consolidation loan, the weighted average of the interest rate for each loan being consolidated are used. Student loan refinancing, on the other hand, is when you refinance one or more eligible student loans into a new loan and receive a new interest rate based on your credit and other underwriting requirements.
  • Can I refinance both federal and private student loans?
    Yes, you can refinance federal and private student loans as long as they are considered qualified education loans used for qualified higher education expenses at a Title IV institution of higher education in the United States.
  • Can I refinance my undergraduate and graduate loans into one?
    Yes! As long as the underlying loans you plan to refinance are considered qualified education loans used for qualified higher education expenses at a Title IV institution of higher education in the United States.
  • What is a qualified education loan?
    Qualified education loans are loans taken out by an individual solely to pay qualified higher education expenses. The loan must be for the individual, their spouse or any dependent claimed on the individual’s tax return as of the time the debt was incurred. The student’s educational expenses must be paid or have incurred within a reasonable period of time before or after the loan was taken out and the education expenses paid by the loan must be for a period of time when the recipient was an eligible student.
  • What are qualified higher education expenses?
    Qualified higher education expenses are amounts paid for tuition, fees, books, supplies and other related expense for an eligible student that are required for enrollment or attendance at an eligible educational institution.
  • Are there out-of-pocket fees for obtaining this loan?
    No, there are no application, origination, or disbursement fees.
  • Can I apply with a cosigner to qualify?
    Unfortunately, we do not allow cosigners to be added to a Refinance Loan.
  • How much can I refinance?
    The minimum refinance loan amount is $7,500 and the maximum is $200,000.
  • Who is the lender for the Texas Extra Credit Education Loan program?
    The lender for the Texas Extra Credit Education Loan program is Higher Education Servicing Corp., a Texas-based private, non-profit organization established in 1978 to ensure Texas students and families have access to low-cost education loans in order to achieve a higher education. Higher Education Servicing Corporation may sell its loans to its sister organization North Texas Higher Education Authority, Inc. Loans sold to North Texas Higher Education Authority, Inc. will continue to be serviced by Higher Education Servicing Corporation.
  • How often are interest rates adjusted?
    Higher Education Servicing Corporation reviews interest rates on an on-going basis to determine if changes are needed. We hold the right to review/update interest rates at any time.

Credit History

  • Why is a credit check necessary?
    The credit check serves two main purposes. First, it is used to verify the identity of all people signing the application. Second, it's used for qualification purposes and helps us offer you the best pricing we can based on your credit history.
  • How can I sign my credit agreement?
    There are several ways to sign your credit agreement. The fastest option is to sign electronically. You can also download and print the credit agreement, sign and mail it to the address provided or upload it through your online account.

Application Details

  • How long does it take to refinance my loan(s)?
    Applicants will receive prequalification results within minutes. Based on the prequalification results, you can decide if you wish to complete a full application. Note, you may be asked to upload documents verifying income, loan payoff or other items. Review of your full application once all documents have been submitted usually takes 24-48 hours.
  • Once my loan is approved, what are the next steps?
    After your loan is approved, you may be required to provide additional information or documentation. If required, you will receive an e-mail describing what is needed. After we receive the requested information and your credit agreement is signed, you will be sent a loan approval disclosure which must be accepted within 30 days. Upon acceptance, a final disclosure will be delivered to you and then funds will be disbursed directly to your current loan servicer(s).

Personal & Financial Information

  • How are funds for my refinance loan disbursed?
    Funds will be disbursed directly to your current loan servicer(s) to pay off the education loans being refinanced.
  • Why is my Social Security number needed?
    We use your Social Security number to verify your identity and to check your credit history.
  • Why do you need a personal reference from me?
    We need a personal reference as an additional means of contacting you during the servicing of your loan. If we are not able to reach the student or cosigner on the loan we will contact your personal reference.
  • Who can I use as a reference?
    Your reference can be anyone over the age of 18, as long as he or she is not living at the same address as you.
  • What qualifies as income?
    Primary sources of income typically reflect employment earnings, but may also come from other sources such as retirement.
  • Why is the program only offered to Texas residents?
    Higher Education Servicing Corporation administers its Texas Extra Credit Education Loan program under the authority provided to it in Chapter 53B of the Texas Education Code, which limits our program to serve only Texas residents.

Loan Repayment

  • When will I begin making payments on my loan?
    Payments begin 30-60 days after disbursement of funds to your servicer(s).
  • Do you offer graduated or income-sensitive repayment options?
    No. Federal Loans have a variety of repayment options, like graduated and income driven repayment and various forgiveness programs that you will lose if you refinance them. Make sure you understand what you may be giving up before you apply. You can learn more about repayment options on Federal Loans by visiting www.studentaid.gov/.
  • When will interest begin to accrue on my loan?
    Interest begins to accrue on your loan as soon as funds are disbursed.
  • Is there a penalty for pre-payment or paying the loan off early?
    No, you can pay your loan off early regardless of your repayment terms without any penalty. You will only be charged the amount of interest that has accrued on the loan until the day the loan is paid off.
  • How can interest be capitalized?
    In general, interest will capitalize at the end of any deferment or forbearance period unless otherwise noted in your Credit Agreement. Interest is also capitalized upon default. In all cases, capitalized interest is thereafter considered part of the principal, and interest will accrue on the new principal balance. Complete interest capitalization rules are contained in your Credit Agreement.

Refinance Loan Disclaimers

  1. The prequalification process is based on review and validation of the information provided during the initial application process and the information obtained from the consumer reporting agency. The prequalification process will not affect the applicant’s credit score. If the applicant passes the prequalification process, they will be required to provide acceptable documentation including loan payoff amounts from their current servicer(s) and/or income verification before the final loan approval. Actual interest rates will be determined once a hard credit pull is conducted. Please be aware that if an applicant intends to refinance federal education loans, they will no longer qualify for potential loan forgiveness through the Department of Education or the income-based repayment option. Please be aware the applicant will also lose special benefits such as public service loan forgiveness and economic hardship programs if they refinance federal education loans.
  2. The current fixed interest rates range from 4.20% to 9.18% in effect as of 8/26/2025. The fixed interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the applicant’s credit history (2) the repayment term selected, and (3) other information provided on the online loan application. If approved, the applicant will be notified of the rate qualified for within the stated range. APRs range from 3.95% (with Auto Pay Discount3) to 9.16%. Lowest rates are only available for the most creditworthy applicants. The APR reflects the estimated total cost of the loan, including upfront fees, accruing interest and the effect of capitalized interest. The lowest APR example is based on a $10,000 loan disbursed in a single transaction, a 5-year repayment term (60 months), an immediate repayment plan, monthly principal and interest payments of $183.94 and has a 3.95% interest rate which includes a 0.25% interest rate reduction for payments via auto pay 3. The highest APR example is based on a $10,000 loan disbursed in a single transaction, a 15-year repayment term (180 months), an immediate repayment plan, monthly principal and interest payments of $102.50 and has a 9.18% interest rate. The fixed interest rate assigned to a loan will never change except as required by law or if you request and qualify for the ACH reduction benefit.
  3. An interest rate reduction of 0.25% is available for borrowers who make monthly electronic funds transfer (EFT) payments of principal and interest from a savings or checking account. To qualify, the borrower needs to arrange with the loan servicer to automatically deduct monthly principal and interest payments from a bank account. The automatic payment benefit will discontinue and be lost for the remaining repayment period in the event any three payments are returned for insufficient funds over the life of the loan. This benefit may be terminated during deferment and forbearance periods, but can be re-established if the borrower reapplies at the end of the deferment or forbearance period.
  4. In the event a Borrower becomes Totally and Permanently Disabled, the Borrower, or his/her representative, may contact the Servicer by phone or mail to request information regarding the Lender’s Total and Permanent Disability (TPD) discharge. Any Loan that has not previously become a charged off Loan or that is not currently in default may be discharged due to the Borrower’s Total and Permanent Disability, as defined by the Lender’s TPD Terms and Application. The definition of TPD, the application form for a TPD discharge, the required supporting documentation, and other terms, limitations, conditions and requirements for a TPD discharge (“TPD Terms”) can be obtained by contacting the Lender or Servicer by phone or mail. The Servicer must receive a completed TPD Application within the timeframe stated within the application that complies with the requirements set forth by the Lender for a Loan to be discharged. If the Borrower meets the TPD requirements set forth by the Lender, the Servicer shall write down any outstanding principal and accrued interest balance on the Loan to a zero balance. For additional information regarding TPD or to request an application, contact the Loan Servicer.
  5. Immediate repayment of principal and interest (“Immediate Repayment”) — The first payment of principal and interest is due within thirty (30) to sixty (60) days after the date of the last disbursement.
  6. Qualified education loans are loans taken out by an individual solely to pay qualified higher education expenses. The loan must be for the individual, their spouse or any dependent claimed on the individual’s tax return as of the time the debt was incurred. The student’s educational expenses must be paid or have incurred within a reasonable period of time before or after the loan was taken out and the education expenses paid by the loan must be for a period of time when the recipient was an eligible student.
  7. Qualified higher education expenses are amounts paid for tuition, fees, books, supplies and other related expenses for an eligible student that are required for enrollment or attendance at an eligible educational institution.

Debt Consolidation Loans

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Bringing it All Together with a Debt Consolidation Loan

Are all your high-interest credit card payments starting to add up? Not to worry. You can instantly lower your payments with a debt consolidation loan.

  • Great low debt consolidation loan rates starting at 10.99% APR*

  • Terms as long as 48 months

  • Amounts as high as $15,000.00

  • No home equity required

Schedule Consolidation Appointment

Other Loans

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Whatever your borrowing needs, Prestige has the perfect loan for you. Our loan officers are lending experts. We do more than just write car loans and mortgages, we also make loans for:

  • Auto Equity

  • Boats – new and used

  • Motorcycles/ATVs – new and used

  • Personal watercraft

  • Recreational vehicles, campers, and motor homes

  • Share pledge

  • Credit Builder Loan

The interest rate you will receive on your loan is based on approved credit and your past credit performance. The lowest advertised loan rates include a 0.10% deduction for automatic payments.

If you are interested in a particular loan type that isn’t listed on our site, give us a call at (972) 715-4444. Chances are we can do it.

Loan Payments

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Make a payment

It’s That Easy

Skip-A-Payment Program

Need extra cash? Our Skip-A-Payment program can help. Simply print out the Prestige Skip-A-Payment request form below and return it to us at least 10 days before your payment is due. You just pay a minimal $35.00 processing fee per loan, and you don’t have to make a payment until the next month. We’ll take care of the rest.

  • Available on Auto Loans, Personal Loans, and many others

  • Return form 10 days before loan payment is due

  • Submit form online (click below)

Skip-a-payment form

Skip-A-Payment Terms & Eligibility

  • You must be a member in good standing and all of your loans must be current to participate in the Prestige Skip-A-Payment program.

  • Loans Not Eligible - Leases, Quick Cash loans, Mortgage loans, Home Equity loans, Credit Cards, Student Loans, Line of Credit, Certificate of Deposit loans, Balloon loans, Courtesy Pay loans, Payment Saver Loans and Credit Builder loans.

  • Skip-A-Payment program does not apply to loans during the first six (6) months of the loan agreement.

  • No more than 2 Skip-A-Payments or Loan Extensions per year.

  • Consecutive payments cannot be skipped. A minimum of 6 months are required between loan extensions.

  • Any loan delinquent over 30 days in the past 12 months is not eligible for the Skip-A-Payment program.

  • No more than 5 Skip-A-Payments will be granted during the life of any loan.