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How to get answers to your questions about:
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Contents:
>How do I find out about a college or university? >How do I find out about admissions requirements? >How do I decide which school(s) to apply to?
>What kinds of financial aid are available? >How much do UT academic students receive in financial aid each year? >Are there tax benefits for the families of students enrolled in college? >How do I find financial assistance for my child's education? >How can I reduce the financial demands of a college education? >What resources are available for financial aid? >What is the difference between subsidized and unsubsidized loans? >What is the TEXAS Grant program? Who qualifies? >What are Pell Grants? Who qualifies? >What other options are available? >How do I find out more about financial aid?
Where do I start? There are many resources available to students and parents on applying for college and for financial aid. Your high school guidance counselor is a good place to start. There are also many resources on the web that can help! The Texas Higher Education Coordinating Board has a great website called College for Texans with everything you need to know about preparing for, applying to, and paying for college.
Read on for additional suggestions and tips...
How do I find out about a college or university? Begin with the college or university's website. While you should not base your decision solely on what you see online (it's always a good idea to visit a campus in person or talk to family or friends who have gone there), websites can give you a good place to learn about their degree programs, campus life, and costs.
How do I find out about admissions requirements? Almost all colleges and universities require a high school diploma and SAT or ACT scores. They differ widely, however, in their selectivity -- in other words, how high your grades and scores must be. In addition, many may have additional requirements such as essays or letters of recommendation.
It is important to find out the admissions requirements for each university you plan to apply to well in advance. You don't want to find you're missing some requirements at the last moment. Admissions offices for most schools can be found on their websites.
A list of UT admissions offices is available online.
Helpful tips on college admissions can be found on the College for Texans website.
How do I decide which school(s) to apply to? Selecting a college is ultimately a personal decision. Ask yourself which school is right for you. Consider location, cost, academic programs, selectiveness, and reputation. Look at the degree programs offered. Consider the availability of extracurricular activities -- Greek societies, athletics, music, fine arts, etc. Would you prefer a large or small school? Urban, suburban, or rural? Do you want to live on or off campus?
You can help yourself make this decision by breaking the process into several steps:
For tips on selecting the school that is right for you, try these useful sites:
How do I apply? Once you have narrowed your search, it is time to submit applications to those institutions. Some people recommend applying to as many as eight different schools -- three "reach" schools; three "likely" schools; and two "safety" schools -- that way you can be assured you'll have a choice.
Each school will have a different application process, as well as different admissions requirements and deadlines for submission. Check with the admissions office of the school(s) you are interested in to make sure you have submitted everything required. Many schools now offer online applications--and most prefer this method.
How do I pay for college? You've already applied to college. Congratulations! Now you (and perhaps your family) will need to plan for the cost of attending college. Luckily there is a lot of help out there. From grants and scholarships to work-study programs and student loans, there is financial aid out there for everyone -- both merit-based and need-based.
Begin your search for financial aid as soon as possible. There are several standard federal and state sources, but don't overlook private sources as well. Often local businesses or organizations offer scholarships for academic excellence, sports, or fine arts. These aren't always easy to find, so do your research. Your high school guidance counselor may know the best place to start, or contact local businesses and community organizations in your area. Following are some excellent sources for more information about tuition, fees, and scholarships.
How much will college cost? Tuition and fees varies widely depending on the school. In general, in-state is cheaper than out-of-state and public is cheaper than private. Even within these groups, however, there can be wide differences. You should check with the admissions office at each school you are considering attending.
A good source for information about paying for college is College for Texans. Find out the cost of Tuition and Fees at UT components through their individual websites.
Don't forget, tuition, and fees are only one part of the cost of attending college. Books and supplies have to be considered. Whether you live on- or off-campus, there will be cost-of-living expenses for housing, food, and transportation. And there are always miscellaneous expenses for personal goods and entertainment.
There are several sites that offer budget worksheets to help students and potential students figure out their monthly cash flow.
What are the requirements of the new tuition flexibility law for tuition set-asides for financial assistance? 20% of tuition increases approved by the UT System Board of Regents will be set aside for financial aid grants. Of this 20%, 5% goes to the Texas Higher Education Coordinating Board for a new, forgivable loan program called the "B-on-Time" program.
The UT System is committed to tuition policies that enable low- and middle-income families to afford a high quality education for their sons and daughters.
What kinds of financial aid are available? The federal government provides about 70 percent of the student financial aid available across the country.
How much do UT academic students receive in financial aid each year? Students receive a total of nearly $629 million from federal, state, and private-sector sources for grants, scholarships, and work-study programs. (See more complete details by campus here.)
Total Financial Aid Received (by campus) UT Arlington - $79 million UT Austin - $215 million UT Brownsville - $35 million UT Dallas - $46 million UT El Paso - $60 million UT Pan American - $66 million UT Permian Basin - $11 million UT San Antonio - $101 million UT Tyler - $16 million
Are there tax benefits for the families of students enrolled in college? Yes, there are tax deductions and tax credits. The Hope Scholarship Credit and the Lifetime Learning Credit tax credits were the largest federal initiative since the GI Bill, and in 2000 $4.9 billion was returned to taxpayers to offset college expenses. Over half of that sum went to families with incomes between $30,000 and $75,000. Taxpayers making between $50,000 and $74,999 received an average tax credit, not a deduction, of $902. See the IRS for more information.
How do I find financial assistance for my child's education? There are many federal, state, local, and private sources of financial aid. Some are merit-based (based on a student's academic record or other activities), some are need-based (based on a family's income). Financial aid can include grants and scholarships or loans and work-study. The resources available are different for each university, so it is important to speak with the UT Financial Aid Office at the universities you are considering.
How can I reduce the financial demands of a college education? Encourage your children to take more credits per semester and to graduate on time. Each additional semester spent in school beyond a traditional four years results in additional living expense and additional time out of the job market, or extends the time away from graduate and professional schools. In addition, learn about all the types of financial aid that are available and take advantage of these programs. Every college and university offers free financial aid counseling.
What resources are available for financial aid? Following is a list of some resources that may be available to you:
What is a Stafford Loan? With the Federal Unsubsidized Stafford Loan, you have the option either to pay the interest during in-school periods, or to let it accumulate (accrue) and be added to your loan amount (capitalize) when you begin repayment after you are out of school. Borrow as little as possible overall, and only when necessary to meet your costs, from these more expensive loan programs.
What is the difference between subsidized and unsubsidized loans? If you are awarded a subsidized loan, the federal government pays
the interest charged during periods of at least half-time enrollment,
as well as during the six months after you cease to be enrolled at least
half-time (graduation, withdrawal).
What is the TEXAS Grant program? Who qualifies? The TEXAS Grant program provides a grant for eligible students to attend public and private nonprofit institutions of higher education in Texas. A qualified student will be a Texas resident with financial need and an expected family contribution of no more than $8,500 who has applied for any available financial aid or assistance and has not been previously granted a baccalaureate degree. Students must enroll at least three-quarter time in an undergraduate degree or certificate program at a Texas non-profit college or university.
What are Pell Grants? Who qualifies? Federal Pell Grants generally are awarded to families making less than $40,000. A Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor's or professional degree. (A professional degree is usually earned after earning a bachelor's degree in a field such as medicine, law, or dentistry.) In some cases, you might receive a Pell Grant for attending a post-baccalaureate teacher certificate program. Click here for more information.
What other options are available?
How do I find out more about financial aid? Almost everyone qualifies for some form(s) of financial aid. Here are some sites that will help you find out about resources.
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