The Texas Higher Education Coordinating Board transitioned to a new student loan management system for several financial aid programs on Thursday, aiming to modernize and simplify the platform.
The new system provides a more user-friendly website for visitors, according to the THECB website. The system will provide many new features: online access to loan details from application through repayment, better reporting and data access, real-time application and eligibility status updates, and notifications.
Bobbi Kessler, a spokesperson for the board, wrote in a statement that THECB decided to transition to the new loan management system since its contract with HelmNet, its previous system, expired.
“The Texas Higher Education Coordinating Board saw an opportunity to modernize and improve the loan management experience for students and institutions,” Kessler wrote.
The new system hosts the state-funded financial aid programs College Access Loan, Future Occupations and Reskilling Workforce Advancement to Reach Demand Loan and the Texas Armed Services Scholarship Program.
The CAL program is geared toward Texas residents who are unable to meet the cost of attendance at a college or university. The program has serviced more than 50,000 borrowers, according to a 2023 audit. The loans can offer up to the cost of attendance. The FORWARD program is for students enrolled in high-demand programs like nursing and teaching, and covers up to the cost of attendance.
The TASSP is a scholarship that provides significant financial aid for those who are contracted to serve in any branch of the United States armed services, and more than 1,700 students have received the scholarship since its creation in 2010.
The new system for CAL and FORWARD students launched Oct. 22 and will launch for TASSP applicants Jan. 4, 2027. Some TASSP disbursements may be delayed from October through December of this year as the system transition occurs, according to the THECB website.
Kessler wrote that the new system will make submitting forms online and accessing documents and loan information easier for students and institutions.
Evelyn Martin, owner and loan officer for mortgage brokerage company Martin Mortgage, said she frequently sees post-graduate students struggling to apply for housing because of growing student loans. Students accumulate new loans every semester, which she said builds up over time and leaves students with multiple loans to separately manage and pay.
Martin said that loan management systems such as the THECB are “important (for) not just giving the loans, but learning how to manage the loans and understanding the different payment options once (students) graduate.”
Martin advised students after graduation to do a loan consolidation, which helps them manage loans in one place and allows them to pay them in one bulk loan. She said she often sees students with “dings” on their credit report due to missed or delayed payments, which is “always a huge issue with the ability to qualify (for housing) because it hits the credit score.”
With student loan use increasing as the cost of college rises, Martin said it is important for students to have the support and education to properly manage their loans.
From Oct. 22 to Nov. 9, online loan account access and payments will be temporarily unavailable as the new system transition occurs. By Nov. 9, all borrowers and cosigners will receive a welcome email with login information, according to the THECB website.
Timeline updates and additional guidance for students can be found on the board’s website.