Financial Aid for College Students in Texas FY 2008 Financial Aid for College Students in Texas FY 2008 THECB 06/091

Types of Financial Aid Grant Aid Grant Aid Work-Study Work-Study Loans Loans THECB 06/092

3 In FY 2008 Over $5.84 billion in financial aid was awarded to almost 623,000 students.

New in 2008 Report Data on Students who applied for but did not receive aid Second year of data on merit aid for students who completed FAFSA 4THECB 06/09

5 In FY 2008, Texas Undergraduate Students – Public 4-Year Source: FY 2008 Financial Aid Database

THECB 06/096 Profile of Grant and Loan Distribution in Texas, FY 2008 for Public 4-Year (Undergraduate) Source: FY 2008 Financial Aid Database

Tuition & Fees with Other Education Cost Compared to Grants, Work-Study, and Loans THECB 06/097 Source: FY 2008 Financial Aid Database, IFRS, and CSB

THECB 06/098 In FY 2008, Texas Undergraduate Students – Public 2-Year Source: FY 2008 Financial Aid Database

THECB 06/099 Profile of Grant and Loan Distribution in Texas, FY 2008 for Public 2-Year Percent of Recipients Family Adjusted Gross Income Source: FY 2008 Financial Aid Database

Income Breakdown for Major State Financial Aid Programs THECB 06/0910 Source: FY 2008 Financial Aid Database Income TEXAS Grant TEGTEOGBOT 0 to 9, %21.10%36.15%7.15% 10,000 to 19, %13.96%20.92%6.29% 20,000 to 29, %12.65%27.11%7.71% 30,000 to 39, %11.34%11.38%9.08% 40,000 to 49, %9.88%3.45%9.83% 50,000 to 59, %8.60%.066%11.35% 60,000 to 69, %7.47%.022%10.18% 70,000 and above2.45%15.00%.011%38.42% Totals100.00%

Outlook The legislature made significant increases in financial aid for the upcoming biennium; however State aid maximums are tied to tuition and fees. To continue making progress in closing the gaps in participation, the State must continue to increase funding for financial aid. We need to make sure that our financial aid policies help close the gaps in success too. THECB 06/0911