Student Financial Aid and Scholarships :: University of North Texas
FAFSA applications for 2006-2007 will be available online beginning January 2, 2006. Complete your 2006-2007 FAFSA by the priority deadline of April 15, 2006.
Texas B-On-Time (BOT) Loan
How To Apply?
No eligibility application is required by UNT. Eligibility for BOT Initial and Continuing awards is determined by the UNT Student Financial Aid and Scholarship (SFAS) office. Awarded students will be provided with instructions regarding how to proceed.
Initial Awards- Eligibility is determined by SFAS
- Once BOT is offered, the financial aid office will instruct you on completing the application and promissory note
- Check MyUNT, "To Do List" for updates
- Eligibility is determined by SFAS
- Master Promissory Note (MPN) is valid for 10 years
- BOT awards are determined after considering other financial aid awards and eligibility, including declined Stafford loans. The BOT amount awarded may not exceed the Cost of Attendance.
- Once the BOT loan has been accepted, no further action is required
Annual Loan Amounts for 2009-2010
- $6,080 – maximum award
- 3% origination fee
Eligibility Requirements
- Have a current Free Application for Federal Student Aid (FAFSA) application on file at UNT
- AND
- Be enrolled full time in an undergraduate degree or certificate program at an eligible institution
- AND
- Be a Texas resident or be entitled to pay resident tuition rates as a dependent child of a member of the U.S armed forces
- AND
- Have graduated in the 2002-2003 academic year or later from a high school program from a public or accredited private high school in Texas
- OR
- Have earned an associate's degree from an eligible institution no earlier than May, 1, 2005
Students that meet the above criteria and have not been award Texas Be-On-Time initial may contact SFAS regarding this program.
Students that meet criteria and have been offered Texas Be-On-Time initial, BUT are not interested should decline the award offered.
Renewal Eligibility
To maintain eligibility for future disbursements, the student must:
- In the 1st Academic Year - make satisfactory academic progress toward a degree or certificate as determined by the institution.
- In the 2nd and Subsequent Academic Years - complete at least 75 % of the semester credit hours attempted in the most recent academic year and have a cumulative GPA of at least a 2.5 on a 4.0 scale (or the equivalent) on all course work previously attempted at institutions of higher education.
*Students that have been awarded B-On-Time continuing and meet renewal eligibility no longer have to renew the Promissory Note or update their application.
Forgiveness Requirements
A Texas B-On-Time Loan shall be forgiven if the student receives and undergraduate degree or certificate from an eligible institution and the student either:- Graduated with a cumulative GPA of at least a 3.0, within:
- 4 calendar years after the date the student initially enrolled in an eligible institution,
- 5 calendar years after the date the student initially enrolled in an eligible institution, if the degree is in architecture, engineering, or any other program determined by the board to require more than 4 years to complete; or
- 2 calendar years after the date the student initially enrolled in a public or private 2-year institution;
- OR
- Graduated with a cumulative GPA of at least 3.0, with a total number of credit hours that is no more than 6 hours beyond what is required to complete the degree or certificate.
- Forgiven BOT Loans must be reported to the IRS as taxable income.
- Students may download the BOT Loan Forgiveness Eligibility Confirmation Form online at: http://www.hhloans.com/Forms/31.pdf
Loan programs available:
- Federal Stafford Loan
- Federal Unsubsidized Stafford Loan
- Federal Perkins Loan
- Federal Parent Loans for Undergraduate Students (FPLUS)
- Stafford and Parent PLUS Loan Borrowers
- UNT Stafford Lender List
- College Access Loan (CAL)
- Texas B-On-Time (BOT) Loan
- Alternative Loan Lenders
- Federal Loan Consolidation Information