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The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX 78249 1/3/111 Financial Aid at UTSA Tuition and Fee Proposal Committee November.

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Presentation on theme: "The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX 78249 1/3/111 Financial Aid at UTSA Tuition and Fee Proposal Committee November."— Presentation transcript:

1 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/111 Financial Aid at UTSA Tuition and Fee Proposal Committee November 20, 2013

2 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/112 Types of Financial Aid Grants – free money, students do not have to pay back, typically require a student to demonstrate need (from FAFSA results) Scholarships – free money, merit based, normally requires an additional application, some may be need-based or preferred Work-Study – students work up to 19 hours per week in offices across campus Student loans – money students must repay after they graduate, students and parents can borrow

3 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/113 Federal Grants PELL Grant – if eligible, student is entitled, no set allocation to school, student must demonstrate high need – 12,392 students at $47 million SEOG Grant - $0 EFC, PELL eligible, very limited allocation, cannot serve all students who are eligible – 613 students at $730,862 TEACH Grant – provided to education majors at Junior/Senior level. Must be repaid as an unsubsidized Stafford if the student doesn’t complete the teaching commitment required – 257 students at $699,599

4 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/114 State Grants Texas Grant – new priority model for Received a $6 million cut to the program 2 years ago – must cover T&F for any student who receives TX Grant, additional academic progress requirements after 2 nd year – 3904 students at $17 million Reduction in allocation and request from THECB to have an average $5000 award. Change in formula for awarding – Tuition/Fees minus PELL = Texas Grant – 8900 – 5550 = 3350 – Allowed us to award all eligible students who met the priority deadline of March 15th

5 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/115 Institutional Grants TPEG Grant – Statutory Set Aside – 15% of revenue – need-based grant – allocations by groups (resident, non-resident, undergraduate, graduate) – 3831 students at $4.8 million UTSA Grant – Designated Set Aside – 15% over and above $46 tuition rate – all TX resident, undergraduate and graduate allocations – 5196 students at $8 million

6 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/116 State Scholarships Top 10% - students who are ranked in Top 10% of class, require $1 of need, funding reduced for this biennium, reduced award to $1500 and can only provide scholarships to 1 st priority group – 518 students at $1 million

7 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/117 Institutional Scholarships Designated Set Asides - Rising Roadrunner Scholarship/Freshmen, Phi Theta Cappa Scholarship/transfers – 117 students at $117,000 Roadrunner Scholarship – discontinued after 12/13 – 936 students at $934,0000 Stipends and Tuition/Fee Payments Endowed – donor scholarships, funded each year from interest earned – chosen by UTSA, many in colleges or departments or general scholarships – Ex. McKinney Distinguished Scholarship – 503 students at $1.3 million Private/Annual – donor scholarships, funded annually – chosen by UTSA, many in colleges or departments or general scholarships – 617 students at $1.1 million

8 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/118 Outside/Private Scholarships Scholarships received by UTSA students – chosen by organization – 2130 students at $4.5 million Outside Miscellaneous Scholarships – students obtain scholarships on their own, organizations send UTSA check on behalf of student Terry Foundation Scholarship DD Hachar Scholarships Baumberger Scholarship San Antonio Educational Partnership

9 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/119 Work-Study Federal Work Study – allocation has reduced each year for the past several years including this year due to sequestration, must demonstrate need – 309 students at $926,677 State Work Study – minimal allocation from state to supplement federal amount, must demonstrate need – 94 students at $150,599 Institutional Work Study – from designated set asides, currently at $1.4 million per year, must demonstrate need and be Texas resident, this funds a portion of fall/spring and all of summer – 782 students at $1.4 million

10 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1110 Federal Student Loans Subsidized Stafford – available to undergraduates, annual limits based on grade level, aggregate limits based on dependent or independent status, goes into repayment 6 months after graduation or no longer enrolled half-time, must demonstrate need Unsubsidized Stafford – available to undergraduates and graduates, annual limits based on grade level and dependent vs. independent status, aggregate limits as well, goes into repayment 6 months after graduation or no longer enrolled half-time, begins accruing interest at disbursement, no need requirement Total – 17,672 awards at $133 million

11 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1111 Federal Stafford Student Loans Dependent Loan Limits Stafford Sub Stafford Unsub Freshman Sophomore Junior Senior Aggregate23,000Total 31,000 Indepen- dent Loan Limits Stafford Sub Stafford Unsub Freshman Sophomore Junior Senior Aggregate23,000Total 57,500

12 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1112 Federal Student Loans Perkins Loan – very limited pool of funds ($300,000 per year to approximately 150 students), must demonstrate need, available to undergraduates and graduates, 5% interest rate, goes into repayment 9 months after graduation, may be forgiven in some cases Parent PLUS Loan – no need requirement, parents must past a credit check to qualify, goes into repayment within days of final disbursement for the award year, parents can borrow up to the cost of attendance, if parent is denied, student can borrow the undergraduate independent levels of student loans Graduate PLUS Loan – no need requirement, student must pass a credit check to qualify Total PLUS – 1616 awards at $10.3 million

13 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1113 State Student Loans B-on-Time Student Loans – limited allocation each year, recent changes will reduce even further, UTSA is required to set aside 5% of designated tuition above $46 to program, for next 2 years, new allocation will only provide approximately 65% back to UTSA – 360 students at $2.4 million – Cannot advertise – considered a private loan – Cannot automatically package to new students – they must request the loan – Difficult to award without the ability to auto-package the student

14 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1114 State Student Loans College Access Loan (CAL) – Considered an alternative loan – Limited allocation each year ($2-3 million) – 5% interest rate – Must have good credit or cosigner with good credit (easier to get than alternative loans) – Cannot advertise or auto-package to students

15 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1115 Alternative Loans Private Lenders provide loans – Higher interest rates – Required credit checks and/or cosigners – Most don’t start repayment until after graduation Total Alternative Loans (includes CAL) – 1133 awards at $8.1 million

16 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1116 Awards by Fund Type

17 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1117 Awards by Fund Source

18 The University of Texas at San Antonio, One UTSA Circle, San Antonio, TX /3/1118 QUESTIONS


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