1. Texas Higher Education Coordinating Board 1 Financial Aid Advisory Committee Annual Report Report Period: December 2015 – November 2015 Lisa G. Blazer, PhD, Committee Chair

2. 1 Committee Overview Purpose – provide advice and recommendations regarding state financial aid programs Annual Cost Estimate - $11,355 Time Commitment Estimate - 120 hours every quarter by agency staff and committee members – preparation, meeting day, minutes and clean up We will establish a clearer picture over the course of this next year for costs and time commitment by agency staff and committee members

3. 1 Summary of Tasks Completed Legislative Session Discussion focused on TEXAS Grant, B-On-Time, Top 10% changes and work-study off campus requirements Continued concern about Hazlewood – unfunded mandate and the costs to institutions – great benefit for veterans and their dependents TEXAS Grant rules were finalized and discussed Concern was raised regarding the new TEXAS Grant allocation formulas – we requested another negotiated rulemaking sessions, which is currently underway Financial literacy and student loan debt reduction – TG Pilot and Report New student financial aid program structure at THECB was introduced

4. 1 Recommendations to the Board Solidify nomination process for committee Provide feedback to THECB for the next legislative session Provide feedback on new initiatives including central office, Texas Student Aid Handbook and reporting requirements Continue sub-committee for data collection and reporting Create a sub-committee to examine new federal Prior, Prior Year FAFSA application and the impact on state programs, allocation processes and student eligibility Continue to work with THECB to improve the allocation process