Financial Aid for Texas Students Spring, 2008 Presenter: Jane Caldwell, Dir., Grants & Special Pgms....
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Transcript of Financial Aid for Texas Students Spring, 2008 Presenter: Jane Caldwell, Dir., Grants & Special Pgms....
![Page 1: Financial Aid for Texas Students Spring, 2008 Presenter: Jane Caldwell, Dir., Grants & Special Pgms. Texas Higher Education Coordinating Board grantinfo@thecb.state.tx.us.](https://reader036.fdocuments.us/reader036/viewer/2022070406/56649e015503460f94aeaf86/html5/thumbnails/1.jpg)
Financial Aid for Texas StudentsSpring, 2008
Presenter: Jane Caldwell, Dir., Grants & Special Pgms.
Texas Higher Education Coordinating Board
![Page 2: Financial Aid for Texas Students Spring, 2008 Presenter: Jane Caldwell, Dir., Grants & Special Pgms. Texas Higher Education Coordinating Board grantinfo@thecb.state.tx.us.](https://reader036.fdocuments.us/reader036/viewer/2022070406/56649e015503460f94aeaf86/html5/thumbnails/2.jpg)
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In 2006-2007
614,000+ students received aid at TX nonprofit institutions
$5,300,000,000+ was received.
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Major Programs, 2006-7 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
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Aid by Type – 2006-2007
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
grants/schol.
work-study
loans
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Aid by Source 2006-2007
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
Federal
State
I nst.
Other
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Qualifying for Need-Based AidNeed-based aid is awarded on the basisof the gap that may exist between thestudent’s resources (including those fromthe family) and the cost of attendingCollege, or “need”.
Cost of Attendance-Family Contribution
Need
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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.
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Applying for Aid1
The Student
1. Completes FAFSA or TASFA
2. Has results made available to school
3. Completes paperwork prior to Priority Deadline
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Applying for Aid2
The Institution1. Calculates need2. Compares students
to program requirements
3. Identifies viable programs and amounts
4. Sends award letter
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Applying for Aid3
The Student1. Receives award
letter2. Accepts or rejects
the offered aid3. Notifies college of
acceptance or rejection of offer
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Applying for Aid4
The Institution
1. Holds funds for the student
2. Acquires loan guarantee (if applicable)
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Applying for Aid5
The Student
Receives his funds
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State and Federal AidThe vast majority of state and federal aidis distributed through the process justdescribed –
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.
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Non-Need-Based Gift AidIncludes 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.
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New from the 80th Legislature1
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
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New from the 80th Legislature2
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
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New from the 80th Legislature3
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
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Trends in State AidThe state subsidizes students enrolled inpublic institutions. Tuition and fees onlycover a portion of the total costs toprovide education. Therefore, to controlcosts, state aid policies:
Encourage students to be efficient Penalize students for inefficiency
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A Push for Efficiency Dual enrollment AP credits Early High School Graduation
Scholarship Tuition Rebates International Baccalaureate
Programs
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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
3rd time Full-cost tuition once you have completed
30 SCH beyond your undergraduate degree plan
Limit to 6 dropped classes without impact on GPA
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Major State Programs
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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.
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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.
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TEXAS GrantsRequirements 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 1st 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
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TX Public Educational GrantsRequirements 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
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Tuition Equalization GrantsRequirements 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
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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.
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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 Deaf TANF recipients ValedictoriansFoster Care Adopted Dual enrolledMiddle/high school students playing “Taps”Children of deceased/disabled veterans, peace
officers, firefighters, MIAs, POWs & others
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For More Information Contact us at 1-800-242-3062 or
512-427-6340 Financial Aid Hotline 1-888-331-
8881(offers bilingual operators)
http://www.collegefortexans.com/paying/geninfo.cfm