State Financial Aid In TexasTASFAA ABC WorkshopOctober 7, 2015

Shebah SpearsProgram Manager, Grants and Special ProgramsStudent Financial Aid ProgramsTexas Higher Education Coordinating Board

There is no shortage of data in the world. Some is outdated, while some is skewed; some can make you depressed, while some can provide guidance and hope.

Data is EXTREMELY powerful. So it is EXTREMELY important that the data we are reporting is accurate.

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NEW DIRECTION

Goals For FY2016• Improving accuracy in reporting for state

financial aid programs• Implementing “Target Dates” to serve as a

guide for reconciling state aid funds• Disbursing requested funds within five

business days• Reconciling and returning funds in a timely

manner• Providing more training

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What ROLE do you play in administering

State Financial Aid Programs?

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• Financial Aid Office

• Business Office

• Business Office

• Financial Aid Office

Determining Eligibility

Disbursing funds

Canceling award based on eligibility

Sending refunds

Reconciling accounts

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The ABC’s of State Financial Aid Programs

Grant, Scholarships, and Work Programs Funds awarded do not need to be repaid.

Educational LoansFunds awarded are used to cover cost of attendance.

Exemption ProgramsExempt from paying tuition and/or fees*.

Waiver Programs Waive tuition rates for non-resident students*.

* Certain groups of eligible students.

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State Program Highlights

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TEXAS Grant – Initial Year (IY) Pathways

Four (4) IY Pathways: Graduated from an accredited

public or private high school (Includes Priority Model)

Earned an Associate’s Degree

Enlisted in military service

Texas Educational Opportunity Grant (TEOG)

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AREA REQUIREMENT(S)

Advanced Academic Program

12 hours of college credit (dual credit or AP courses), complete the Distinguished Achievement Program (DAP), or complete the International Baccalaureate (IB) Program .

TSI Readiness

Meet the Texas Success Initiatives (TSI) assessment thresholds or qualify for an exemption.

Class Standing

Graduate in the top one-third of the HS graduating class or have a “B” average.

Advanced Math

Complete at least one math course beyond Algebra II (as determined by the Texas Education Agency (TEA)).

Priority Model Consideration

TEXAS Grant – Continuation of Awards

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End of subsequent years: Program SAP:

2.5 cumulative GPA and 24 completed SCHs

End of 1st year: Institution’s SAP Policy

Enroll in at least 9 hours

Have Financial Need

Student Eligibility Ends when…

Student receives a Baccalaureate Degree

orStudent attempts 150 SCHs

TEOG – Eligibility

Student must:Enroll in at least 6 hours as an entering undergraduate student with no more than 30 hours:• includes all hours earned

that are being accepted by your institution

• excludes credits for dual enrollment or by examination.

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Renewal Year EligibilityInitial Year Eligibility

Have Financial Need

End of 1st year: Institution’s SAP Policy

End of subsequent years: Program SAP:

2.5 cumulative GPA and 24 completed SCHs

75% Completion Rate

TEOG – Award Amounts / End of EligibilityAward amounts are determined annually.Proration Required:

12 or more hours at census date – 100% of maximum award 9 to 11 hours at census date – 75% of maximum award 6 to 8 hours at census date – 50% of maximum award

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STOPTEOG eligibility ends when a

student….

obtains an Associate’s Degreeor

attempts more than 75 SCH’s

TEG – Program Highlights

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Eligibility Highlights: National Merit Finalist with at least $1,000

in scholarships.

Not concurrently receiving an athletic

scholarship.

Required to pay more tuition than is

required at a comparable public institution.

Enroll in at least 9 SCH’s as an

undergraduate or graduate student working

on the first associate’s, baccalaureate,

master’s, or doctoral degree that does not

lead to ordination or licensure to preach.

Have Financial

Need

75% completion Rate

24 completed SCHs

2.5 cumulative GPA

Enroll in 9 hours

Subsequent Award

Eligibility

Important Reminders

Awards are issued on a student-by-student basis. – Funds cannot be transferred to other eligible recipients unless

the funds are refunded and re-issued.

Awards are for FALL ONLY.– If the recipient does not enroll, please return the student’s

award. Students are not able to receive an award at another institution until the funds requested for the student are returned to THECB.

Award eligibility is based on hours enrolled as of census date.– If a student drops classes after the census date, the award does

not need to be refunded.

Top 10% Scholarship Program

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Disbursements and Refunds

Reconciliation of funds during the fiscal year:– Program disbursements and balances are

reconciled in February through the institution’s Progress Report.

End of the fiscal year:– Unused funds must be returned to THECB

before end-of-year report certification.Refunds must include cents, if applicable.

Texas College Work Study Program

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Disbursements and Refunds

CAL(College Access

Loan)

BOT (B-On Time)

The Coordinating Board has no way of knowing that a student’s loan was reduced or cancelled, and we must pursue repayment based on the signed promissory note. Failure to return funds on a timely basis results in many negative consequences for borrowers:

Late fees Tax payments on forgiven loans Collection charges and negative credit reports

for:Defaulted loans, andLate monthly loan payments after

graduation.

State Loan Programs

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November 1st – FY2015 Summer Update File (SAP Updates)

Date for institutions to update FY2015 End-of-Year (EOY) records for students that receive a fall award.

December 4th – TEOG and TEXAS Grant Date to submit funds requests for fall term.

December 15th – TEG, TEOG, TEXAS Grant, and Top 10%

Date to return funds for fall term.

May 1st – TEG, TEOG, and TEXAS Grant Date to return funds for spring term.

Target Dates

February 20th

Institutions lose claim to funds not requested by close of business on this date.

Deadline to:• request originally allocated funds.• submit reallocation requests (only

those schools with a zero original allocation balance).

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Deadline

• Financial Aid Office

• Business Office

• Financial Aid Office

• Business Office

Determining eligibility

Disbursing funds

Canceling award based on eligibility

Sending refunds

RECONCILING ACCOUNTS

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The Coordinating Board’s Role

Training Guidance

Contact Information

Grants and Special Programs Information Website

https://www1.thecb.state.tx.us/apps/SpecialPrograms/

General Contact Informationgrantinfo@thecb.state.tx.us

512.427.6340 or 800.242.3062

General Websitewww.collegeforalltexans.com

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It takes a village to put a student through college

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