1. You and your student (the student’s name is on the loan so they can build a credit history) take out a loan in April 2011 for $7,000. You make interest only payments for the next 12 months. At this time you can make interest-only payments for the next 12 months, qualify and take out an additional amount, or set up the loan for a 6 year repayment of principal and interest.
   
2. If your student is still enrolled and you want to borrow more, in April 2012, you qualify and borrow an additional $8,000. You will make interest only payments on $15,000 for the next 12 months.  Similar to the end of the first year, you can make interest-only payments for the next 12 months, qualify and take out an additional amount, or set up the loan for a 6 year repayment of principal and interest.
   
3. If your student is still enrolled and you want to borrow more, in April 2013, you qualify and borrow an additional $9,000. You pay interest only on $24,000 for the next 12 months. Similar to the end of the second year, you can make interest-only payments for the next 12 months, qualify and take out an additional amount, or set up the loan for a 6 year repayment of principal and interest.
   
4. If your student is still enrolled and you want to borrow more, in April 2014, you borrow another $8,000. You pay interest-only payments on $32,000 for the next 12 months. Similar to the end of the third year, you can make interest-only payments for the next 12 months, qualify and take out an additional amount, or set up the loan for a 6 year repayment of principal and interest.
   
5.  In April of 2015, the loan is due in full or the loan can be set up for a 6 year term payment of principal and interest.

For questions or to apply, stop by a TDECU branch or talk to a Student Lending Specialist at 800-839-1154.