- OpenNet - Once you have accepted a student loan on Cougar Web, the system
will create an electronic loan application. The loan application will then be
transmitted electronically to the OpenNet platform. Once there, you will be notified
via e-mail to log in to the site and complete the loan application including choosing
your lender and signing your master promissory note. - Entrance and Exit Counseling - All first time loan borrowers at Collin are required
to complete entrance loan counseling. All students who fall below half time and/or
leave Collin are required to complete exit loan counseling. - Education Tax Credits - IRS Publication 970. Tax Benefits for Education
- Selective Service - Men aged 18-25 are required to register with Selective Service.
Students who are required to register with the Selective Service must do so to be
eligible for Federal Student Aid funds.
- National Student Loan Data System
- The Texas Higher Education Coordinating Board - also known as THECB.
THECB's web site contains a wealth of information about higher education in the
state of Texas, including sources of financial aid such as exemptions and waivers.
Check out that part of their web site at College For All Texans. Click on "Apply for
Financial Aid" in the menu bar on the left, then "Types of Financial Aid" on the right.
Beyond High School
View the power point presentation here for information about the various types of financial aid and how to get started.
This is the same basic presentation we use at all Financial Aid presentations during the year.
Other Important Information
Income-Based Loan Repayment program or IBR
On July 1, 2009, a major new student loan repayment option will become available for the
first time. Income-Based Repayment (IBR) caps monthly federal loan payments at an
affordable level based on your income and family size, and forgives any debt and interest
that remains after 25 years. If you owe more on your federal student loans than you earn
in a year, you can probably benefit from IBR. The lower your income, the lower your
monthly payment will be: in some cases, as low as $0. IBR is available for almost all
federal loans - past, present, or future - made by any lender, whether for college or
graduate school.
For more information, including a simple calculator to estimate monthly payments,
please visit www.IBRinfo.org.