Texas Tech University Tuition: Investment and Value

The most costly education is the one not begun.

ADMISSIONS

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The rising cost of a college education is a popular topic for today’s media. Every institution of higher education in Texas has experienced tuition increases over the last three years. Increased tuition means that paying for college becomes a challenge for many students. At Texas Tech, we continually are seeking ways to help our current and future students make the dream of a college education become reality. The most costly education is the one not begun.

How Tuition Revenue Is Used

You can be confident that funds from increased tuition are used to provide the highest quality experience for our students, in and out of the classroom.  Tuition revenue is used to recruit and retain top-notch faculty and construct state-of-the-art academic and recreational facilities. Fifteen percent of every one dollar in increased tuition supports financial aid programs for our students.

The Value of a Texas Tech Degree

On average, adults who have completed a college degree will earn $23,000 more per year than those with a high school diploma, according to an Oct. 16 CNN.com story. But the value of a college degree goes beyond dollars and cents. Consider for a moment what your Texas Tech degree means to you. Perhaps a special professor inspired you to follow your dreams and pursue a certain career path, or a summer internship helped you land your first job. The value of your Texas Tech degree is measured in opportunity, experience and personal achievement. We make sure that talented students have every opportunity to be part of the Red Raider tradition, regardless of the cost.

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Help For All Students

We help students by providing realistic cost estimates that allow them to plan ahead for financial obligations right from the beginning of their college search. Student surveys are conducted annually to determine the true cost of rent, transportation, books and other living expenses. All of these costs are considered when we award financial aid to students.  

Extensive financial aid opportunities help students at all income levels. Scholarships, grants, loans and work-study programs may be combined to best meet the needs of individual students. Loans are helpful and accessible, though they are frequently overlooked.

Families are sometimes hesitant to take out a loan. But low interest rates, flexible repayment plans and the option to qualify to have debt forgiven make loans a practical source of aid for many students. About 57 percent of Texas Tech undergraduates borrow money while attending college and graduate with an average debt of $19,000 -- less than the price of most new cars. A student gets far more mileage from a Texas Tech degree, and the average monthly loan payment is only about $210.

Innovative programs such as the State of Texas B-On-Time loan and $1,000 tuition rebate and Texas Tech’s Graduate-On-Time (GOT) contract maximize investments of time and money by encouraging students to graduate in a timely manner. For example, GOT guarantees that students who commit to a degree plan will not have delays in graduation because courses aren’t available, making the most of their college investment.

A Texas Tech Degree Is Within Reach

Contributions from generous donors, grants from private foundations and aid from federal and state programs provide financial resources for our students. In 2005, the Texas Tech University System invested $8.9 million in student scholarships, representing approximately 115 new scholarship accounts, and added an additional $3 million per year in new institutional grants. Our merit-based scholarships provide $4.5 million to academically talented students. New and existing programs make degrees more affordable for 41 percent of our students with more than $140 million in aid annually.

For more information on financial aid and scholarships, please contact:

Texas Tech University Financial Aid
P.O. Box 45011
Lubbock TX 79409-5011
Phone: 806-742-3681
E-mail: finaid.advisor@ttu.edu
Web: www.financialaid.ttu.edu

Jan 15, 2020