What Are Student Loans?

Similar to the type of loan you might take out to buy a home, a student loan is money you borrow and must pay back with interest. There are two types of student loans: federal student loans and private student loans.

Federal Student Loans

These loans are offered by the federal government. Their conditions and terms are legally set. Benefits include fixed interest rates and repayment plans that start after graduation and can be based on income.

Private Student Loans

State-based or state-affiliated organizations, banks and credit unions offer private student loans. The lender sets the conditions and terms. Compared to federal student loans, private student loans are typically more expensive.i

Learn more about the differences between federal student loans and private student loans in this chart.

Types of Student Loans

Type of Student Loan Federal Direct Subsidized Federal Direct Unsubsidized Federal Direct Parent Plus Federal Direct Consolidation Private
Who Can Apply Students with Financial Need Students without Financial Need Parents of Dependent Students Students Students
Amounts $3,500 to $5,500 per year** $2,000 to $12,500 per year** Training Costs Not Covered by Financial Aid*** Total of All Federal Student Loans Combined**** Varies
Fees 1.059%* 1.059%* 4.236%***** No Application Fee**** Varies
Interest Fixed Rate
Fixed Rate
7.08% Fixed Interest Rate for the Life of the Loan Fixed Rate Weighted Average of Rates on Consolidated Loans** Varies
Repayment Schedule Starts after Graduation, Leaving School or Changing to Half-Time Enrollment* Starts after Graduation, Leaving School or Changing to Half-Time Enrollment* Starts after Graduation, Leaving School or Changing to Half-Time Enrollment* Starts after Graduation, Leaving School or Changing to  Half-Time Enrollment* Varies*

**Fee for Direct PLUS Loans with a first disbursement date on or after October 1, 2019 and before October 1, 2020

**Fee for Direct Subsidized Loans and Direct Unsubsidized Loans with a first disbursement date on or after October 1, 2019 and before October 1, 2020

**Interest rate for Direct Subsidized Loans, Direct Unsubsidized Loans and Direct PLUS loans first disbursed on or after July 1, 2019 and before July 1, 2020.

How to Get Student Loans

Complete the Free Application for Federal Student Aid (FAFSA) form. Federal student loans may be included in the financial aid offer TWS sends you. Our Financial Aid Advisors will educate you on how to accept part or all of the loan.***

Visit our How to Apply for Financial Aid page to learn more about applying for FAFSA, or call us for additional details on the process of getting federal or private student loans.

Call us at (855) 237-7711.

Student Loan FAQ & Resources

Have more questions about federal student loans? Call our Financial Aid Department at (855) 237-7711.

Student Loan Resources

Student Loan Assistance Group

We understand that taking out a student loan is a big responsibility. When managed properly, the rewards of a new skill set and career could be well worth the risks that can come with borrowing money for school. And we’re here to make sure everything goes as smoothly as possible with your student loans.

We take student loan management so seriously, we’ve even created an internal prevention team to make sure students receive the support they need to pay their student loans on time, or defer them if necessary.

TWS’ Student Loan Assistance Group is here to help you after you take out a student loan. Borrowing money for school can be a scary and complicated process, but you don’t have to do it alone.



Additional Sources

Accredited School, ACCSC. TWS-Jacksonville located at 1750 Southside Blvd., Jacksonville, FL 32216 is recognized by ACCSC as a satellite location of TWS-Jacksonville located at 3500 Southside Blvd., Jacksonville, FL 32216. Tulsa Welding School & Technology Center (TWSTC) in Houston and TWS-Jacksonville are branch campuses of Tulsa Welding School, located at 2545 E. 11th St., Tulsa, OK 74104. Tulsa, OK campus is licensed by OBPVS and ASBPCE. Jacksonville, FL campus is licensed by the Florida Commission for Independent Education, License No. 2331. TWSTC and TWS in Tulsa, OK are approved by TWC. TWS in Jacksonville is licensed by the Mississippi Commission on Proprietary School and College Registration, License No. C-668. Licensure indicates only that minimum standards have been met; it is not an endorsement or guarantee of quality. Licensure is not equivalent to or synonymous with accreditation by an accrediting agency recognized by the U.S. Department of Education. TWS in Jacksonville is also regulated by: Office for Career and Technical Schools, 10 N. Senate Ave, Suite SE 308, Indianapolis, IN 46204; [email protected]; http://www.in.gov/dwd/2731.htm. GI Bill® Eligible (check with local campus for specific eligibility). The AOSWT program is an Associate of Occupational Studies degree program and is not an academic degree. The AOSWT program is not approved for the following states: CO, GA, LA, MN, and TX. For more information about our programs, please visit our website at: https://www.tws.edu/student-resources/regulatory-information/.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at benefits.va.gov/gibill.

Financial aid and scholarships available to those who qualify. Candidates need to refer to the scholarship information page to determine topic of essay (where applicable) and must meet all regular admissions requirements and be scheduled to start training prior to applying for a scholarship. If a student changes his/her re-enter date, the scholarship award may be forfeited. Scholarships are not transferable and most scholarships cannot be used in conjunction with any other scholarship TWS offers. In most cases, only one award will be given per student. If a student is eligible for multiple scholarships, the scholarship that is most beneficial to the student will be awarded. Scholarships will be distributed incrementally over the entire duration of the program. Scholarship eligibility requires continuous enrollment. Failure to maintain Satisfactory Academic Progress may result in the probation and possible loss of scholarship. Termination from training may also result in the loss of a scholarship, which may increase your tuition obligation to TWS. Tuition charges will be based on the amount reflected on your Enrollment Agreement. See the reverse side of your Enrollment Agreement or the School Catalog for the school’s refund policy.

* According to 2019 IPEDS data TWS has the largest total combined enrollment of students for all post-secondary schools in the U.S. with the designated largest program of CIP Code Welding Technology/Welder.

iEmployment is expected to grow for Welders, Cutters, Solderers & Brazers (514121) in the US by 47,600 jobs from 2021 to 2031. Employment is expected to grow for Heating, Air Conditioning, and Refrigeration Mechanics and Installers (499021) in the US by 40,100 jobs from 2021 to 2031. Employment is expected to grow for Electricians (472111) in the US by 79,900 jobs from 2021 to 2031. Employment is expected to grow for Plumbers, Pipefitters, and Steamfitters (472152) in the US by 48,600 jobs from 2021 to 2031. Employment is expected to grow for Electrical Power-Line Installers and Repairers (499051) in the US by 11,100 jobs from 2021 to 2031.https://www.careeronestop.org

** https://www.cisa.gov/publication/guidance-essential-critical-infrastructure-workforce

**** Electrical Lineworker program is a short program and not eligible for Title IV funding due to the definition of an Academic Year.

1 Total number of estimated graduates for TWS calculated based on historic data available as of Jan 1, 2023.

2 Indicates the total number of current partnered employers across all TWS locations as of May 2023.

***, 2 https://www.ziprecruiter.com/Salaries/Entry-Level-Welder-Salary , https://www.ziprecruiter.com/Salaries/Entry-Level-HVAC-Technician-Salary , https://www.ziprecruiter.com/Salaries/Electrician-Entry-Level-Salary

3 For students who started and completed their training during the 12-month period for which 150% of normal time for completion has elapsed and who attained employment in their field of study as outlined on our annual accreditation report dated July 2022. Refer to the most current Student Right-to-know Information for more details on calculation details https://www.tws.edu/student-resources/regulatory-information/

**, 10 AWS Welding Employment Stats: https://weldingworkforcedata.com/ Essential Disclaimer: https://www.cisa.gov/publication/guidance-essential-critical-infrastructure-workforce Welding Employment Stats: According to BLS data Oklahoma employed 9,010, Texas employed 48,380 and Florida employed 14,320, Tulsa employed 3,590, the Houston area employed 15,440, the Dallas area employed 9,910, and Jacksonville employed 1,260 Welders, Cutters, Solderers, and Brazers (514121). HVAC/R Employment Stats: According to BLS data Oklahoma employed 5,370, Texas employed 30,670 and Florida employed 33,560, Tulsa employed 1,680, the Houston area employed 6,610, the Dallas area employed 10,230, and Jacksonville employed 2,320 Heating, Air Conditioning, and Refrigeration Mechanical and Installers (499021). Electrician Employment Stats: According to BLS data Oklahoma employed 7,910, Texas employed 64,360 and Florida employed 42,250, Tulsa employed 2,340, the Houston area employed 18,160, the Dallas area employed 17,600, and Jacksonville employed 3,510 Electricians (472111). Pipefitting Employment Stats: According to BLS data Texas employed 37,980,Florida employed 26930, Houston area employed 9,680 and Jacksonville employed 2,760 Plumbers, Pipefitters and Steamfitters (472152). Lineworker Employment Stats: According to BLS data Texas employed 11,960 and the Dallas area employed 2,300 Electrical Power-Line Installers and Repairers (499051). BLS data is reported through May 2022 http://data.bls.gov/oes.

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