Brazos strives to provide transparent pricing and eligibility. We encourage you to familiarize yourself with the eligibility requirements prior to applying. In addition to the requirements below, borrowers and cosigners must meet other credit criteria in order to qualify.
A borrower must be financing the education of an eligible benefitting student that is enrolled at least half-time in:
one of over 2,000 accredited Title IV schools eligible for financial aid,
a 4-year degree granting school that is a state or private nonprofit institution, and
a school that is not a for-profit proprietary school.
Benefitting Student Eligibility
Eligible benefitting students must:
be enrolled at least half time at an eligible school for the academic year or period as certified by the school for which a loan is obtained,
be enrolled in a degree granting program; if the benefitting student has not yet matriculated in a program, they must be working towards a degree, and
maintain satisfactory academic progress, demonstrated by school certification or verification of continued enrollment.
Eligible borrowers must:
be applying to finance the education of an eligible benefitting student attending an eligible school,
be a United States citizen or National, non-citizen with government issued, non-expired documentation of permanent resident status, or, if applying with an eligible cosigner, a non-citizen with a work or student visa,
have a strong credit history and meet other credit requirements.
The minimum loan amount is $1,000. Loans may be requested up to the cost of attendance, less other financial aid, as certified by the school.
Information you will need to apply:
Proof of Texas residency (a state ID or Driver’s License),
Your social security number,
The social security number, date of birth, and name of the school at which your student is enrolled,
The Cost of Attendance as well as the amount of other financial aid you or your student has been awarded (this can be obtained from your financial aid award letter or your school's financial aid office),
Your permanent address,
Proof of income (depending upon your income types, this may be your two most recent pay stubs, 1099 Forms, or your most recent tax return), and
One reference who is not a cosigner on the loan nor the benefiting student
1. Brazos Parent Loan fixed rates from % APR to % APR (with Auto-Pay Discount). Variable rates from % APR to % APR (with Auto-Pay Discount). Interest rates on Brazos loans are capped at 9.90%. The Variable Rate is based on an Index of the greater of the (A) 30-Day Average SOFR or the (B) forward looking term rate based on SOFR, plus a Margin. The lowest variable rate APR displayed is based upon the current SOFR Index of % plus a % Margin, minus the Auto-Pay Discount. The Variable Rate will adjust monthly and the loan payment will be re-amortized and may change monthly. Not all borrowers receive the lowest rate. If approved for a Brazos Parent Loan, the fixed or variable interest rate offered will depend on your creditworthiness, the term of the loan and other factors, and will be within the ranges of rates listed above. For the variable rate Brazos Parent loan, the SOFR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the SOFR index increases.
Auto-Pay Discount. The interest rate in effect will be reduced by 0.25% if either the borrower or the cosigner authorizes automated (ACH) payments from any bank account. This ACH interest rate reduction, referred to as the Auto-Pay Discount, applies only when full principal and interest payments are automatically drafted from a bank account. This interest rate reduction will not continue to apply during periods of approved forbearance or deferment. The Auto-Pay Discount will terminate if the automatic bank account payments discontinue or there are any three instances of insufficient funds at any time during the term of the loan. A borrower may requalify upon reauthorization of automatic payments from a valid bank account.