Financial Aid Information
FINANCIAL AID
Federal Pell Grant
The Federal Pell Grant Program is the largest federal grant
program, and is the foundation upon which other forms of aid are
awarded. Undergraduate students who have not received a bachelor's
degree, meet eligibility requirements for admittance to the
university, and meet satisfactory progress will be evaluated for a
Pell Grant. Eligibility for the Pell grant and the amount of money
received is determined by the student's Expected Family
Contribution (EFC) and the number of hours enrolled. The EFC is
determined by the FAFSA.
Federal Supplemental Educational Opportunity Grant
(SEOG)
This federal grant is available for undergraduate or vocational
students with exceptional need. Students with a low Expected Family
Contribution, who are also receiving a Federal Pell Grant, may be
eligible to receive this grant. Not all recipients of the Federal
Pell Grant will receive the Federal Supplemental Educational
Opportunity Grant due to the availability of funds. You must be
registered for a minimum of 6 hours per semester to receive this
grant.
Texas Public Education Grant (TPEG)
These state and institutional grants are available to assist
undergraduate, and graduate / professional students with high
financial need. Students must be enrolled at least half time (6
hours each term) and Texas residents to be eligible. They are
awarded on a first come first serve basis, based on the
availability of funds.
Texas Grant
A state-funded grant awarded to recent high school graduates who
completed a college-bound curriculum during high school. Students
must have financial need and be enrolled for at least 9 hours to be
considered for this grant.
Teach for Texas Conditional Grant
(This is a student loan with cancellation provision for
teaching)
A state-funded grant offered to Texas residents with a cumulative
GPA of 2.5 on a 4.0 scale, who have applied for and been accepted
into the education certification program. Students must be enrolled
at least 3/4 time at an approved institution as a junior or senior.
The degree program must be in a teaching field certified as having
a critical shortage or the recipient must agree to teach in a Texas
community certified as experiencing a critical shortage of
teachers.
Subsidized Stafford Loan
The Stafford Subsidized Loan is awarded to undergraduate and
graduate students on the basis of financial need determined by the
Free Application for Federal Student Aid (FAFSA). Lending
institutions, such as banks or credit unions, provide the funds for
this loan. The federal government pays the interest on this loan
until you begin repayment. Repayment of this loan will begin six
months after you graduate, leave school, or drop below half-time
enrollment (6 hours).
Unsubsidized Stafford Loan
The Unsubsidized Stafford Loan Program was created by the
government to assure that all students, regardless of their income,
would be able to obtain a student loan. The federal government does
not pay the interest while you are in school. Interest will be
charged from the time the loan is disbursed until it is repaid in
full. If you decide to capitalize or defer the interest, it will be
added to the principle amount of your loan and this will increase
the amount you have to repay. If you choose the option of paying
the interest as it accumulates, then you will pay less in the long
run. Repayment of the interest and principle will begin six months
after you graduate, leave school, or drop below half-time
enrollment (6 hours).
Parent Loans for Undergraduate Students
(PLUS)
The purpose of the Parent Plus Loan is to assist parents by
providing a source of loan funds to help pay the cost of education
for dependent undergraduate students. Parents may borrow up to the
full cost of attendance less any other financial assistance the
student receives. Parents must be able to pass a credit check or
obtain a 'co-signer' who is able to pass the credit check. Both the
parent and student must meet general eligibility requirements for
federal financial assistance. Students must be enrolled at least 6
hours each semester to be eligible.
Federal Perkins Loan
The Perkins Loan is a long-term, low interest loan for both
undergraduate and graduate students that have exceptional financial
need. Perkins loans are made through the financial assistance
office; your school is your lender and the loan is made with
institutional and government funds. You must repay this loan to
your school. Undergraduates who have completed 2 academic years may
borrow a maximum of $20,000, and graduate students may borrow a
maximum of $40,000. The $40,000 includes Perkins loans obtained as
an undergraduate. Borrowers who have not completed 2 academic years
of undergraduate work can borrow a maximum of $8,000. Repayment
begins no more that nine months after you graduate, leave school,
or drop below half-time enrollment (6 hours). You are required to
sign a promissory note each year you receive a Perkins loan. You
will be sent notification when the promissory notes are ready,
approximately two weeks prior to the first class day.
A Perkins Loan can be canceled under certain circumstances, such as
your death or a total and permanent disability. You also might
qualify for having your loan canceled because of the type of work
you do once you leave school. Cancellations are possible in the
fields of teaching, law enforcement, social work, nursing, or
volunteer service.
College Access Loan (CAL)
The College Access Loan is a non-need based state loan offered by
the Texas Higher Education Coordinating Board. To qualify for this
loan, you must be a resident of Texas or eligible to pay resident
tuition rates, be enrolled at least half-time (6 hours), meet
academic progress as determined by our Financial Assistance Office,
and you must be able to secure a credit worthy guarantor. The
guarantor's signature must be notarized before this application
will be considered complete. Interest on this loan will start
accruing from the date the loan is issued. Repayment will begin six
months after you graduate, leave school, or drop below half-time
enrollment (6 hours).
Federal Loan Eligibility Requirements
1. Student must complete a Financial Aid General Application and
the FAFSA.
2. Student must meet academic progress as determined by the Office
of Student Financial Assistance.
3. Student must be enrolled at least half-time (6 hours) each
semester.
4. Be a citizen or eligible non-citizen.
5. Neither parent nor student may be in default on any federal loan
or owe a refund back to any federal program.
Loan Limits for Stafford Loans
Classification: Dependent Students: Independent Students:
Freshmen: (0-32 hrs.) $2,625 $6,625
Sophomore: (33-65 hrs.) $3,500 $7,500
Jr. & Sr.: (66 + hrs.) $5,500 $10,500
Graduate Students: $18,500
Loan
proceeds are released in multiple disbursements. You will receive
one-half each semester that you are enrolled at least 6 hours and
meet Satisfactory Academic Progress as determined by the Office of
Student Financial Assistance. Example: You were awarded $5500 for
the Fall/Spring term. You will receive $2750 at the beginning of
the Fall semester and $2750 at the beginning of the Spring
Semester. If you are graduating at the end of the Fall semester or
Spring semester you will receive multiple disbursements. You will
receive the first disbursement at the beginning of the semester and
the second disbursement will be at the midpoint of the semester.
Example: You were awarded $2,750 for the Fall term. You will
receive $1,375 at the beginning of the Fall term and $1,375 at the
midpoint of the term.
Please remember that the lender will retain an origination fee.
Origination fees are charged by the federal government for
processing the loan. The fee is deducted from the proceeds of your
loan by your lender and paid to the federal government. Please make
note: According to Federal Regulations, the first disbursement for
freshmen first-time borrowers must be held 30 days from the 1st
class day. Also, all first-time borrowers of a Federal loan must
complete an entrance interview.
