Student Loan Information and Borrowing Resources
Student loans can help cover educational expenses that are not met by grants, scholarships, personal resources, or other financial aid. Before borrowing, review your options carefully and borrow only what you need.
Start With the FAFSA
Complete the FAFSA so McMurry can determine your eligibility for federal, state, and institutional financial aid.
Review Before Borrowing
You are not required to accept the full amount of student loans offered in your financial aid package.
Know Your Responsibilities
Federal student loans must generally be repaid with interest, so understand the terms before accepting a loan.
McMurry University Loan Process
Parent PLUS Loans
The Federal Direct Parent PLUS Loan allows eligible parents of dependent undergraduate students to borrow toward educational expenses not covered by other financial aid.
The parent borrower applies through Federal Student Aid using their own FSA ID. A credit review is part of the application process. If approved, additional federal loan requirements may apply before funds can be disbursed.
Private and Alternative Loans
Students may also consider private education loans offered by banks and other lenders. Private loans typically require a credit review, and interest rates, repayment terms, eligibility requirements, and borrower benefits vary by lender.
Students are encouraged to review federal aid options before using private loans and to compare lenders carefully.
Borrower Guidance
Interest and Repayment
Interest increases the total cost of borrowing. Rates and repayment options vary based on the type and date of your federal loans.
Deferment and Forbearance
Borrowers experiencing difficulty making payments may have options to temporarily postpone or reduce payments. Eligibility and interest treatment depend on the loan and circumstance.
Loan Forgiveness and Discharge
Certain federal loan borrowers may qualify for forgiveness, cancellation, or discharge under specific circumstances. Eligibility is determined under federal program rules.
Loan Consolidation
A Direct Consolidation Loan may allow eligible federal loans to be combined into one federal loan. Consolidation can affect repayment terms and borrower benefits, so review the consequences before applying.
Delinquency and Default
If you are having difficulty making payments, contact your loan servicer as soon as possible. Federal Student Aid provides information about resolving delinquency or default and returning loans to good standing.
Federal Loan Dashboard
Use your StudentAid.gov account to review federal loan balances, loan types, servicers, and other federal student aid information.
Need Help With Your Financial Aid?
McMurry’s Financial Aid Office can help students understand their financial aid offer and McMurry loan-processing requirements.
Email: financialaid@mcm.edu
Equity in Athletics Disclosure Act (EADA) Report
McMurry University publishes an annual Equity in Athletics Disclosure Act (EADA) report in accordance with federal requirements for institutions that participate in Title IV financial aid programs and sponsor intercollegiate athletics.
The report includes information on athletic participation, coaching and staffing, revenues and expenses, and financial support for men’s and women’s teams.