Financial Aid for Texas Students Spring, 2008 Presenter: Jane Caldwell, Dir., Grants & Special Pgms. Texas Higher Education Coordinating Board

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Presentation transcript:

Financial Aid for Texas Students Spring, 2008 Presenter: Jane Caldwell, Dir., Grants & Special Pgms. Texas Higher Education Coordinating Board

2 In ,000+ students received aid at TX nonprofit institutions $5,300,000,000+ was received.

3 Major Programs,  Subsidized Fed. Lns.$1,256,784,756  Unsub. Fed. Loans$1,226,083,376  Pell Grants$ 850,729,321  Other Grants/Schol.$ 185,480,380  TEXAS Grants$ 175,053,170  Categorical Aid$ 154,275,061  TX Public Ed. Grants$ 129,293,176

4 Aid by Type –

5 Aid by Source

6 Qualifying for Need-Based Aid Need-based aid is awarded on the basis of the gap that may exist between the student’s resources (including those from the family) and the cost of attending College, or “need”. Cost of Attendance -Family Contribution Need

7 Cost and Family Contribution  Cost of Attendance includes Direct costs (tuition, fees and books/supplies) Indirect costs (living expenses)  Family Contribution is derived from information provided through the FAFSA and is released only to the institutions named by the student on the form.

8 Applying for Aid 1 The Student 1. Completes FAFSA or TASFA 2. Has results made available to school 3. Completes paperwork prior to Priority Deadline

9 Applying for Aid 2 The Institution 1. Calculates need 2. Compares students to program requirements 3. Identifies viable programs and amounts 4. Sends award letter

10 Applying for Aid 3 The Student 1. Receives award letter 2. Accepts or rejects the offered aid 3. Notifies college of acceptance or rejection of offer

11 Applying for Aid 4 The Institution 1. Holds funds for the student 2. Acquires loan guarantee (if applicable)

12 Applying for Aid 5 The Student Receives his funds

13 State and Federal Aid The vast majority of state and federal aid is distributed through the process just described – 1. on the basis of the FAFSA (or TASFA), and 2. though the financial aid office. This keeps families from having to apply separately for each award.

14 Non-Need-Based Gift Aid Includes  Merit-based scholarships  Tuition and/or fee exemptions  Waivers of non-resident tuition They do not require financial need but can impact eligibility for need-based aid. They are not awarded through the FAFSA.

15 New from the 80th Legislature 1  Tuition Rebates – exclude ROTC hours  Hazlewood Exemption (children of vets) Add children of vets rated as 100 % unemployable due to service-related injury Allow the concurrent use of state & fed benefits  “Taps” vouchers for students in grades 6-12

16 New from the 80th Legislature 2  Early HS Graduation Scholarships Majority of HS in TX (not all) US citizen or otherwise lawfully in the state Award if graduate within 46 months (rather than 45 months) with 30 SCH  New Engineering Scholarship Program for freshmen engineering students

17 New from the 80th Legislature 3  Recommended curriculum required for top 10% admissions (or high SAT/ACT scores)  Student Work-study Mentorship Program expanded to help with outreach centers in school districts  Limit on the number of courses a student can drop without penalty

18 Trends in State Aid The state subsidizes students enrolled in public institutions. Tuition and fees only cover a portion of the total costs to provide education. Therefore, to control costs, state aid policies: Encourage students to be efficient Penalize students for inefficiency

19 A Push for Efficiency  Dual enrollment  AP credits  Early High School Graduation Scholarship  Tuition Rebates  International Baccalaureate Programs

20 Penalties for Inefficiency  Loss of state aid eligibility after XX years or YY semester credit hours (SCH)  Full-cost tuition if repeating a class for the 3 rd time  Full-cost tuition once you have completed 30 SCH beyond your undergraduate degree plan  Limit to 6 dropped classes without impact on GPA

Major State Programs

22 Early H.S. Graduation Scholarships  Students graduating 9/1/05-6/14/07 must: Be Texas residents; Complete grades 9-12 in  ≤ 36 months with at least RHSC ($2000); bonus for 15 SCH college credit ($1000);  ≤ 41 months with RHSC ($500); bonus for 30 SCH college credit ($1000);  ≤ 45 months with RHSC; bonus for 30 SCH college credit ($1000); Only attend high school in Texas; Meet Selective Service requirements, and Graduate from a Texas public high school. Have 6 years from graduation to use award.

23 Early H.S. Graduation Scholarships  Students graduating on/after 6/15/07 must: Be citizen of US or lawfully living in the U.S.; Complete grades 9-12 in  ≤ 36 months with at least RHSC ($2000); bonus for 15 SCH college credit ($1000);  ≤ 41 months with RHSC ($500); bonus for 30 SCH college credit ($1000);  ≤ 46 months with RHSC; bonus for 30 SCH college credit ($1000); Complete majority of high school in Texas; Graduate from a Texas public high school; and Meet Selective Service Requirements. Have 6 years from graduation to use award.

24 TEXAS Grants Requirements  TX residency  Entering undergrad  HS graduation with RHSC or ADP within 16 months of college enrollment  No bachelor’s degree  EFC ≤ $4000  ¾-time enrollment  No drug conviction  Selective Svce. Reg. To continue:  End of 1 st year – inst academic progress  Thereafter, overall GPA of 2.5; 75% completion rate/year and 24 credit hours completed/year Eligibility ends when receive BA, reach 150 hours or 5 yrs for 4-yr plans; 6 yrs for 5-yr plans

25 TX Public Educational Grants Requirements  Enroll at public institution  Financial need  Selective Service Registration Continuation  Not an entitlement, but renewal award may occur at institution’s discretion  No statutory end to student eligibility

26 Tuition Equalization Grants Requirements  Enroll in private, non- profit institution  Full-time enrollment  Texas resident or National Merit Finalist  Not receiving athletic scholarship  May be undergraduate or graduate  Selective Service Reg. Continuation  Not required. Is at discretion of institution.  Requires at least 2.5 GPA and completion of at least 24 hrs/year (ugr); 18 hrs/yr (grad) Eligibility ends for undergrads at 5 yrs for 4-year degrees; 6 yrs for 5-yr plans

27 Educational Aide Exemption Pgm. Requirements  Enroll in public institution  Texas resident  Show financial need (FASFA or AGI)  Have been employed full- time as Ed. Aide for 1 of past five years or as Sub. Teacher 180 days in past five years  Currently employed by school dist  Selective Service Reg. Requirements, con’t.  Enroll in courses leading to teacher certification Continuation  Meet academic progress requirements of institution  Remain employed by a public school district Eligibility ends with receipt of teaching certificate.

28 Exemptions  Are awarded to special populations  Must be applied for through the college (other than EHS and Educational Aides)  Include programs for persons who are: Blind or DeafTANF recipientsValedictorians Foster CareAdoptedDual enrolled Middle/high school students playing “Taps” Children of deceased/disabled veterans, peace officers, firefighters, MIAs, POWs & others

29 For More Information  Contact us at or  Financial Aid Hotline (offers bilingual operators)  g/geninfo.cfm g/geninfo.cfm 