New state loan available to help students complete degrees in high-demand fields

The Texas Higher Education Coordinating Board is offering a new loan aimed at increasing the number of Texans who complete degree programs for high-demand occupations, such as nursing, teaching, energy and more.

The video above is about other ways to get debt relief as President Joe Biden's student loan forgiveness program remains blocked.

The Future Occupations & Reskilling Workforce Advancement to Reach Demand program provides "alternative educational loans" to students who cannot afford tuition and other expenses, according to the THECB. Students who receive the loan will ideally be able to pay it off within 10 years, a news release said.

In order to be eligible for the loan, students must be able to complete their higher education program in two years or less, according to the loan website. If enrolled in a degree program, a student must have completed at least half of their coursework before they receive the loan. If enrolled in a nondegree credential program, the program must last less than two years.

Students also must be enrolled in programs related to nursing/patient care, teaching, technology, transportation, logistics or energy. A full list of eligible programs is available here.

Only Texas residents are eligible for the FORWARD loan.

"The FORWARD loan program will help more Texans secure careers in high-demand fields and complete their degrees with manageable debt as they enter the workforce," Higher Education Commissioner Harrison Keller said in the release. "We are committed to increasing educational attainment for Texans of all ages, with the goal of 95% of all undergraduates completing their credentials with manageable or no debt."

Texans can apply for the FORWARD loan online. For more information about the program, visit the loan website or contact the THECB Borrower Services Department at 1-800-242-3062. Texans can also fill out this online contact form and select "Student Loan Question" as the contact reason.

This article comes from our ABC13 partners at Community Impact Newspapers.