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In last week's column, I wrote about the newly-created student loan forgiveness program, the Texas B-On-Time Program. The program offers interest-free loans to students based on financial need and allows the loans to be forgiven if the student graduates in a timely manner and maintains a 3.0 grade point average. In the column, I briefly mentioned the TEXAS Grant program. This program is not new, but students with financial need should be aware of the program.
Passed by the legislature in 1999, the Toward EXcellence, Access, & Success (TEXAS) Grant program provides, as the name implies, a grant of money to enable well-prepared eligible students to attend public and private nonprofit institutions of higher education in Texas. The award amount depends on the tuition and fees charged by the institution. For 2003-2004, the awards are approximately $1,570 per semester for public university students, $635 per semester for community college students, and $930 per semester for technical college students, based on enrollment of 12 credit hours per semester. Private institution awards are based on the public university amount.
To apply for a TEXAS Grant, students must complete the Free Application for Federal Student Aid (FAFSA), available through a college or university's financial aid office or on the internet at www.fafsa.ed.gov. Decisions regarding awards are be made by the financial aid office at the college or university at which the student enrolls. Persons interested in the program should also contact the financial aid office regarding deadlines and additional procedures.
Additional eligibility provisions include requirements that the student is a Texas resident, has a financial need and an expected family contribution of no more than $8,500, has not been convicted of a felony or a crime involving a controlled substance, has graduated from an accredited high school in Texas no earlier than the 1998-1999 school year, has completed the recommended or distinguished achievement high school curriculum or its equivalent, and enrolls in an eligible Texas college or university within 16 months of high school graduation. The grants are also available to a student who has received an associate's degree in May 2001 or later and enrolls in a higher level undergraduate program within 12 months of receiving the degree.
Students who qualify on the basis of their high school curriculum and who continue to meet program academic standards in college can receive awards for up to 150 semester credit hours or six years or until they receive their bachelor's degree, whichever occurs first. Students who qualify on the basis of an associate's degree and who continue to meet program academic standards in college can receive awards for up to 90 semester credit hours or four years or until they complete a bachelor's degree, whichever occurs first. Priority is given to those already receiving TEXAS Grants who are in college and are making progress toward their degrees.
If you would like more information on the TEXAS Grant program or other types of financial aid available to college students, you can visit www.collegefortexans.com or visit with the financial aid office at a Texas college or university.
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