Financial Aid Programs

Types of Federal and State Aid

There are various types of financial aid available to assist students with their educational expenses while attending Texas College. Our financial aid staff will work diligently to make sure students are informed in a timely manner about available aid programs, and securing financial assistance.

Federal Pell Grant

This is a grant available to undergraduate students who demonstrate financial need based on the Federal Methodology Formula.
2021-2022 maximum Pell Award is $ 6,495.00 annually
Effective 2012-2013, no student will be eligible to receive more than 12 semesters or its equivalency of Federal Pell Grant.

Federal Supplemental Educational Opportunity Grant Program (SEOG)

This is a grant available to undergraduate students who demonstrate exceptional financial need. The award ranges from $200 to $4,000 per academic year. Only a limited amount of FSEOG can be awarded each year due to funding constraints.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program

The Teach Grant is a federally funded program created by the College Cost Reduction and Access Act (CCRAA).It became effective beginning with the 2008-2009 award year. The TEACH grant provides up to $4,000 a year in grant assistance to students who plan on becoming a teacher and meet certain specified requirements. If a student who receives a TEACH grant does not complete the required teaching, the grant must be repaid as a Direct Unsubsidized Loan under the William D. Ford Federal Direct Loan Program.

Federal Work-Study (FWS)

The Federal Work-Study (FWS) Program provides part-time employment to undergraduates, students with a financial need. FWS assists students to gain job responsibility and experience while working around their class schedules. FWS funds are earned hourly and paid to the student on a monthly basis. Along with other forms of financial aid, FWS is awarded to assist students with their educational expenses. FWS funds are not applied to tuition, fees, or book charges.

Types of Loans

  • Federal Direct Loan
  • Private Loans

Students must complete their Entrance Loan Counseling and Master Promissory Note by visting:

William D. Ford Federal Direct Loan Program

Subsidized loans are loans for which the borrower is not responsible for the interest while the student is enrolled in college on at least a half-time basis, when the loan is in the six-month grace period after the student is no longer enrolled at least half time, or if the loan is in a deferment status. This provision eliminates the interest subsidy provided during the six-month grace period for subsidized loans for which the first disbursement is made on or after July 1, 2012, and before July 1, 2014. If you receive a subsidized loan during this timeframe, you will be responsible for the interest that accrues while your loan is in the grace period. You do not have to make payments during the grace period (unless you choose to) but the interest will be added (capitalized) to the principal amount of your loan when the grace period ends. This provision does not eliminate the interest subsidy while the borrower is in school or during eligible periods of deferment. Federal Direct Subsidized loans will not be eligible for an interest subsidy during the six-month grace period.

Direct Unsubsidized Loans is a federal student loan that is not based on financial need. Interest accrues on unsubsidized loans from the time the loan is disbursed by the school. If the borrower does not pay the interest as it accrues, it is capitalized (added to the loan balance). The interest is not paid by the federal government.

Private Loans (Alternative)

Non-Federal Private/Alternative loans are private loans made through lending institutions. The loans are not part of the federal government programs. Alternative loans are more expensive than federal government guaranteed loans and should only be used when all other funding options have been exhausted. Research all possibilities for scholarships, grants, work-study and federal loan programs before borrowing from an alternative loan program. Free or lower-cost Title IV federal, state, or institutional financial aid may be available in place of or in addition to, a private education loan.

A private education loan may reduce your eligibility for free or lower-cost federal, state, or institutional financial aid. You are strongly encouraged to pursue the availability of free or lower-cost Federal financial aid. If you determine you need an alternative loan, we recommend that you review alternative loan lenders, and research their policies and loan terms to decide the lender of your choice. The best way to locate alternative loan lenders is to do an internet search for "private student loans". Our office cannot suggest nor recommend an alternative lender.

The database listed below can be used to compare various private lenders and to complete the private loan process.

ELM Select

State of Texas Aid Programs

Tuition Equalization Grant (TEG)

Available to Texas residents or non-residents who are National Merit Finalists, not receiving athletic scholarships, and who are enrolled at private, non-profit colleges and universities in Texas. Based on financial need. Applicants must show they are required to pay more tuition than they would pay to attend a public institution, and they must register for the Selective Service, unless exempt. Apply by completing the Free Application for Federal Student Aid (FAFSA). Awards will be made through the financial aid office of the college/university.

Students who meet the following criteria may qualify for TEG:

  • Show financial need
  • Be a Texas resident or a non-resident National Merit Finalist
  • Be enrolled in an eligible institution in Texas in a degree plan leading to a first associate’s, baccalaureate, master’s or doctoral degree
  • Not receive athletic scholarships
  • Register for the Selective Service or be exempt from this requirement
  • Be enrolled at least on a three-fourths basis if awarded first-ever TEG on or after September 1, 2005

To receive an award beyond their second year in the program, students must:

  • Complete at least 24 hours per year (18 hours, if the student is a graduate student)
  • Complete at least 75 percent of the hours attempted in the most recent academic year
  • Maintain an overall GPA of 2.5 or greater

 In addition undergraduate students enrolled in four-year degree programs may receive awards for no more than five years; undergraduate students enrolled in degree programs of more than four years may receive awards for up to six years.

Texas Work-Study (TWS)

To provide part-time jobs to eligible students with financial need to enable them to attend public and private, non-profit colleges or universities in Texas.

Applicants must: 

  • Be Texas residents
  • Show financial need
  • Register for the Selective Service, unless exempt
  • Enroll at least half time
  • Not receive athletic scholarships 

Complete the Free Application for Federal Student Aid (FAFSA). Contact the financial aid office of the Texas College or university you plan to attend for additional instructions.