Student Loans-We Pay Them Back!
College is very expensive, and the only way many students can afford to attend college is by taking out student loans. The only thing about taking out loans, is that you must pay them back. This can be very difficult for many college graduates. Although, Tech students pay their loans back faster than the national average. Check out the information about loans and read our article located on the sidebar to learn why Tech students pay back the loans faster!
What loans are out there?
Also, check out Pell Grants, although since you don't have to pay back grants, recieving one is much more competitive. Please view this graph to see the difference in the number of applicants in 1995 compared to 2005!
Though grants and loans can be competitive, don't get discouraged because there are three main places to help you with financial aid/loans/grants here at Texas Tech!
-Red to Black student organization
-American State Bank on campus
Way to go Tech students! You guys pay back your loans faster than the national average! Check out these facts about your pay back rate and check out the article located on the sidebar.
-Texas Tech students defaut rate for paying the Stafford Loan is 3.4% while the national average is 5.1%. Please view this press release in order to find out how the national average compares with years' past default rate.
Why is it good that Tech students pay back their loans faster than the national average?
-it allows the school to give out more financial help
-you get out of debt faster
-it builds up and makes your credit look good