1. State Financial Aid In Texas TASFAA ABC Workshop October 7, 2015 Shebah Spears Program Manager, Grants and Special Programs Student Financial Aid Programs Texas Higher Education Coordinating Board

2. 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 Some is outdated, while some is skewed; some can make you depressed, while some can provide guidance and hope.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. 2

3. 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 3

4. What ROLE do you play in administering State Financial Aid Programs? 4

5. Financial Aid Office Business Office Financial Aid Office Determining Eligibility Disbursing funds Canceling award based on eligibility Sending refunds Reconciling accounts 5

6. The ABC’s of State Financial Aid Programs Grant, Scholarships, and Work Programs Funds awarded do not need to be repaid. Educational Loans Funds awarded are used to cover cost of attendance. Exemption Programs Exempt from paying tuition and/or fees*. Waiver Programs Waive tuition rates for non-resident students*. * Certain groups of eligible students. 6

7. State Program Highlights 7

8. 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) 8 AREAREQUIREMENT(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)).

9. TEXAS Grant – Continuation of Awards 9 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 or Student attempts 150 SCHs

10. 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. 10 Renewal Year Eligibility Initial 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

11. TEOG – Award Amounts / End of Eligibility Award 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 11 STOP TEOG eligibility ends when a student…. obtains an Associate’s Degree or attempts more than 75 SCH’s

12. TEG – Program Highlights 12 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

13. 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 13

14. 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 14

15. 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, and Late monthly loan payments after graduation. State Loan Programs 15

16. November 1 st – 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 4 th – TEOG and TEXAS Grant Date to submit funds requests for fall term. December 15 th – TEG, TEOG, TEXAS Grant, and Top 10% Date to return funds for fall term. May 1 st – TEG, TEOG, and TEXAS Grant Date to return funds for spring term. Target Dates February 20 th 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). 16 Deadline

17. Financial Aid Office Business Office Financial Aid Office Determining eligibility Disbursing funds Canceling award based on eligibility Sending refunds RECONCILING ACCOUNTS 17 The Coordinating Board’s Role Training Guidance

18. Contact Information Grants and Special Programs Information Website https://www1.thecb.state.tx.us/apps/SpecialPrograms/ General Contact Information grantinfo@thecb.state.tx.us 512.427.6340 or 800.242.3062 General Website www.collegeforalltexans.com 18

19. It takes a village to put a student through college 19