The Texas Higher Education Coordinating Board is proposing a new loan program to increase the number of Texans who complete degree programs in high-demand fields such as nursing, teaching, energy, and others.
According to The Higher Education Coordinating Board (THECB), the Future Occupations and Reskilling Workforce Advancement to Reach Demand program offers alternative educational loans to students who are unable to afford tuition and other associated costs. It is expected that students who are granted this loan would be able to repay it within a period of ten years.
How To Qualify For State Loan Program?
According to the loan website, students must be able to complete their higher education degree in two years or less. Before receiving the loan, degree-seeking students must have completed at least fifty percent of their coursework.
If you are enrolled in a certification program that does not lead to a degree, the program must be completed in less than two years.
In addition, students need to be enrolled in a program that relates to either nursing or patient care, education, technology, transportation or logistics, or energy. This page contains a comprehensive listing of all programs that are eligible.
The FORWARD loan is only available to people who live in the state of Texas.
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What Is FORWARD Loan?
A forward loan is a type of annuity loan in which the disbursement date can be deferred up to five years into the future.
Higher Education Commissioner Harrison Keller stated in a press release that the FORWARD loan program will assist more Texans to obtain professions in high-demand fields and graduate with manageable debt before entering the workforce.
We are devoted to boosting educational attainment for Texans of all ages, with a goal of ensuring that 95% of all undergraduates graduate with manageable or no debt. Texans can apply online for the FORWARD loan.
Visit the loan website or call the THECB Borrower Services Department at 1-800-242-3060 for additional information about the program. Also, Texans can fill out this online contact form and choose Student Loan Question as the purpose for contact.
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