Texas Tech University

Types Of Aid

Headwaters

Texas Tech relies on a variety of financial aid sources to cover the entire Cost of Attendance and increase the school's affordability. Generally, eligibility for these programs is based on financial and household information that is reported on the Free Application for Federal Student Aid (FAFSA). In addition, you must meet certain eligibility requirements. (i.e. must be a U.S. Citizen or eligible non-citizen, maintain Satisfactory Academic Progress, be enrolled at least half-time, etc.).

Students who qualify for Texas residency under House Bill 1403/Senate Bill 1528 are eligible to apply for some student financial aid programs offered by the State of Texas by submitting a Texas Application for State Financial Aid (available in Spanish).

Grants

Grants and scholarships are often called "gift aid" because they are free money—financial aid that doesn't have to be repaid. Grants are often need-based, while scholarships are usually merit-based. studentaid.ed.gov

Federal Pell Grant

Federal Pell Grants are awarded to undergraduate students who have not earned a bachelor's  degree and who possess financial need as determined by the completion of the Free Application for Federal Student Aid (FAFSA). All students meeting eligibility requirements are offered the Federal Pell Grant.

Eligibiity:

  • You must have a qualifying Expected Family Contribution (EFC) as determined by the FAFSA.
  • Recipients must be making Satisfactory Academic Progress.
  • Students are limited to receive the equivalent of twelve semesters at full-time enrollment in Pell Grant

Award Range:

  • The maximum award will be $5,730 for the 2014-15 award year.

Helpful Links:

U.S. Department of Education: studentaid.ed.gov

Top Ten Percent Scholarship

The Top Ten Percent Scholarship was established in 2010 by the Texas Legislature to provide need based financial assistance for Texas students who graduate within the top 10% of their graduating class. The program is subject to funding availability from the state of Texas. At Texas Tech University, this program is administered by the Office of Student Financial Aid.

During the 2015 Texas State Legislative Session, the General Appropriations Act limites the TopTen Percent Scholarship funding to eligible renewal students only beginning in the 2015-16 award year. Therefore, to receive a Top Ten Percent Scholarship in 2015-16, a student must have received a Top Ten Percent Scholarship in 2014-15 or a prior award year.

Eligibility:

  • Must be a Texas resident
  • Student must have received a Top 10% Scholar ship prior to the 2015-16 award year. No funding is available for first time recipients
  • Submit the Free Application for Federal Student Aid (FAFSA) in time to generate non-rejected results by March 15 or submit the Texas Application for State Financial Aid (TASFA) to the financial aid office by March 15
  • Register with the Selective Service or be exempt
  • Enroll full-time in the fall semester in a Texas public college or university after graduation from high school
  • Demonstrate financial need per the program requirements
  • Renewal awards require a student to complete 30 credit hours in the previous year, maintain a cumulative GPA of 3.25 and complete at least 75% of hours attempted.

Transfer Students: If you received a Top 10% Scholarship at your previous institution, you may be eligible for a Renewal Top 10% Scholarship award at Texas Tech University. Please contact the TTU Financial Aid Office and identify yourself as transfer student who has received Top 10% Scholarship at your prior institution. Our office will review your potential eligibility for an award at Texas Tech University.

Award Range:

Award amounts may vary by award year based on available funds as determined by the Texas Higher Education Coordinating Board. All awards through this program are for the fall semester only. The 2016-17 award year amounts have not been determined. The 2015-16 award amounts were:

  • Initial Year: $0
  • Renewal Year: $1915.00
  • Work Force Bonus: $0

Hardship Provision:

Students who fail to meet the academic requirement for a renewal award may submit documentation to the office for consideration. Circumstances may include but not limited to:

  • Illness, accident or injury by you or significant person in your life
  • Death of an immediate family member
  • Divorce
  • Personal problems experienced by you, spouse, family or roommate.

Helpful Links:

College for Texans: www.collegefortexans.com

Federal Supplemental Education Opportunity Grant (SEOG)

The Federal Supplemental Educational Opportunity Grant (FSEOG) is available to undergraduate Federal Pell Grant recipients with high financial need. Preference is given to students who are attending on a full-time (12 credit hours) basis. This fund does not require a separate application. It is awarded through the standard process based on the FAFSA.

Eligibility:

  • High need students working on their first undergraduate degree.

Award Range:

  • $100-$4000 Based on enrolled hours and availability of funds
  • Must be receiving a Pell Grant to receive this grant.

Helpful Links:

U.S. Department of Education: studentaid.ed.gov

Texas Public Education Grant (TPEG)

The Texas Public Education Grant (TPEG) is a program administered by the State of Texas to provide assistance to students with financial need, seeking a first bachelor's degree, graduate degree or professional degree. This is a grant, and it does not have to be repaid. This fund does not require a separate application. It is awarded through the standard process based on the FAFSA/TASFA applications received.

Eligibility:

  • Resident and non-resident, undergraduate and graduate students enrolled at least half time.

Award Range:

  • $100-$4000 (based on need eligibility and enrolled hours)

Helpful Links:

College for Texans: www.collegefortexans.com

TEXAS Grant

The Toward Excellence, Access & Success (TEXAS) grant was established in 1999 by the Texas Legislature to provide need-based financial assistance to Texas students. This program is available to undergraduate students who have not earned a bachelor's degree and is subject to funding availability from the state of Texas.

Eligibility:

  • You Must be a Texas resident.
  • You Must not been convicted of a felony or crime involving a controlled substance.
  • You must demonstrate exceptional financial need as determined by the FAFSA or TASFA.
  • Have an EFC less than or equal to $5,088
  • Register for the Selective Service or are exempt from this requirement.
  • Be a graduate of an accredited high school in Texas (home-based privtate high schools are not currently accredited by TEA or one of the TEA's accrediting agencies)
  • Complete the Foundation, Recommended High School Program or Distinguished Achievement Program in high school
  • Enroll in a non-profit public college or university in Texas within 16 months of graduation from a public or accredited private high school in Texas and
  • Have accumulated no more than 30 semester credit hours, excluding those earned for dual or concurrent courses or awarded for credit by examination (AP, IB or CLEP).

OR

  • Have earned an associate degree from a public technical, state or community college in Texas and
  • Enroll in any public university in Texas no more than 12 months after receiving their associate's degree.


Award Range:

  • The maximum amount is $8,000 per year.

Helpful Links:

College for Texans: www.collegeforalltexans.com

TTU Grant

Texas Tech University Grants are awarded to undergraduate students who have not earned a bachelor's degree and who possess financial need as determined by the completion of the Free Application for Federal Student Aid (FAFSA). All students meeting eligibility requirements are offered the Texas Tech Grant.

Eligibility:

  • Resident and non-resident undergraduate students enrolled at least three-quarter time (9 hours).

Award Range:

  • Amounts vary based on the availability of funds.

Federal TEACH Grant

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program was created to financially assist students who are seeking degrees in high-need fields and who anticipate teaching in those fields at the secondary or elementary level.

If you choose to participate in this program, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. If you fail to meet the requirements of the service obligation, the TEACH Grant funds you received will convert to a Federal Direct Unsubsidized Loan. You will then be required to repay the loan to the U.S. Department of Education. You will also be charged interest from the date the grant was disbursed. You may review more information about the obligations at teachgrant.ed.gov.

To be eligible for the TEACH Grant at Texas Tech University you must be classified as a junior, senior, or graduate student.

Eligibility:

  • You must complete the FAFSA.
  • You must be a U.S. citizen or eligible non-citizen.
  • You must be enrolled in a TEACH Grant eligible degree program, and you must enroll in coursework necessary to begin a career in teaching or plan to complete such coursework. Contact the TEACH Grant representative in the TTU College of Education to verify your degree program meets the TEACH Grant requirements.
  • You must maintain a cumulative GPA of at least a 3.25.
  • You must complete a TEACH Grant Agreement to Serve and TEACH Entrance Counseling.

Award eligibility varies based on Enrollment Status. For details, please visit the Award Proration information page.

Current High-need subject areas (High-need areas are subject to change annually)

  • Bilingual Education and English Language Acquisition
  • Foreign Language
  • Mathematics
  • Reading Specialist
  • Science
  • Special Education

Other identified teacher shortage areas as of the time you begin teaching. Teacher subject shortage areas (not geographic areas) are listed in the U.S. Department of Education's Annual Teacher Shortage Area Nationwide Listing available at ed.gov.

Schools serving low-income students include any elementary or secondary school that is listed in the U.S. Department of Education's Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits. To access the directory, please go to tcli.ed.gov.

If you feel that you qualify for the TEACH Grant, please send an inquiry email to Financial Aid from your TTU email account and include your Eraider so that we may review your eligibility.

Helpful Links:

U.S. Department of Education: studentaid.ed.gov

Loans

If you apply for financial aid, you may be offered loans as part of your financial aid offer. A loan is money you borrow and must pay back with interest. studentaid.ed.gov

Federal Direct Subsidized Stafford Loan

A Federal Direct Subsidized Loan is a low interest need-based loan made to students enrolled at least half-time who have completed the FAFSA for the appropriate academic year. The federal government pays loan interest while the student is in school, and loan repayment begins six months after the student graduates or drops below half-time enrollment. Eligible students are automatically considered also for the Federal Direct Unsubsidized Loan.

Eligibility:

  • Need-based loan with interest paid by the federal government during enrollment, grace and deferment periods.

Interest Rates:

  • Interest rate is 0% while you are enrolled at least half-time and during your six-month grace period
  • Interest rate fixed at 4.66 percent for 2014-2015.

Fees:

  • Net origination fee of 1.073% is included in the loan amount.

Loan Range:

  • $3,500 for freshmen
  • $4,500 for sophomores
  • $5,500 for juniors and seniors.

Repayment:

  • Repayment begins six months after the student graduates or drops below half-time enrollment.

Helpful Links:

Texas Tech information: www.depts.ttu.edu/financialaid/
U.S. Department of Education: studentaid.ed.gov

Federal Direct Unsubsidized Stafford Loan

A Federal Direct Unsubsidized Loan is a low interest need-based loan made to students enrolled at least half-time who have completed the FAFSA for the appropriate academic year. Direct unsubsidized loans accrue interest while you are enrolled. You can choose to pay the interest each month while in school, or allow the interest to accumulate. Loan repayment begins six months after the student graduates or drops below half-time enrollment.

Eligibility:

  • Non-need-based loan with interest accruing from disbursement; interest can be paid quarterly or capitalized and added to the principal amount when repayment begins.

Interest Rates:

  • Interest rate for undergraduates fixed at 4.66 percent.
    Interest rate for graduates fixed at 6.21 percent.

Fees:

  • Net origination fee of 1.073% is included in the loan amount.

Loan Range:

  • $5,500 for Freshmen
  • $6,500 for Sophomores
  • $7,500 for Juniors/Seniors
  • $20,500 Graduate Students

Repayment:

  • Repayment begins six months after the student graduates or drops below half-time enrollment.

Helpful Links:

Texas Tech information: www.depts.ttu.edu/financialaid/
U.S. Department of Education: studentaid.ed.gov

Texas B-on-Time Loan

The Texas B-On-Time Loan is a no-interest loan for eligible Texas students. This loan carries the added benefit that, if the borrower meets specified goals, the entire loan amount can be forgiven upon graduation. This loan is funded by the State of Texas, with repayment made to the Texas Higher Education Coordinating Board Hinson Hazelwood program.

During the 2015 Texas State Legislative Session, House Bill 1 was passed limiting B-On-Time (BOT) loans to renewal applicants only beginning with the 2015-16 award year. Therefore, to receive a BOT Loan in 2015-16 and in future aid years, a student must have received a BOT disbursement in 2014-15 or a prior award year.

Eligibility:

  • Be a Texas resident or be entitled to pay resident tuition rates as a dependent child of a member of the U.S. armed forces; and
  • Received a B-on-Time loan prior to the 2015-16 award year. No funding will be available for first time borrowers and no waiting list is available.
  • Not have been granted a baccalaureate degree;
  • Be enrolled full time in an undergraduate degree or certificate program at an eligible institution;
  • All B-on-Time recipients are required to complete BOT Entrance Counseling on an annual basis before loan funds can be disbursed to the student's account. Once BOT Entrance Counseling is completed, the Financial Aid Office will receive confirmation of the completed counseling.
  • Have completed a FAFSA and be eligible to receive federal financial aid.

Interest Rates:

  • 0% Interest is never charged on this loan at any time.

Fees:

  • A 3% origination fee will be deducted from the loan proceeds.

Loan Range:

  • 4-year public and private institutions: $8,000/year; $4,000/semester
  • After the school certifies the loan, the student has 90 days to complete the loan process on www.hhloans.com. If all loan documents are not completed with 90 days of the certification, the lender will cancel the loan request.

Repayment:

  • Texas B-On-Time (BOT) Loan has a 6-month grace period from the date the student ceases to be enrolled at least half-time at an eligible institution. Repayment begins after the expiration of the 6-month grace period. The BOT loan has a 15-year repayment period or a minimum monthly payment of $75.00.

Forgiveness Requirements:

Upon graduation, a student must complete the Texas B-on-Time Application for Forgiveness. The application must be submitted to the TTU Office of the Registrar. The Office of the Registrar will complete the application for forward to the Texas Higher Education Coordinating Board (THECB). The THECB will review the application to determine if the student is eligible for loan forgiveness. To be eligible for loan forgiveness, a student must receive an undergraduate degree from an eligible institution and meet specific loan forgiveness requirements:

  • Graduated with a cumulative GPA of at least a 3.0 on a four-point scale, within:
    • 4 calendar years after the date the student initially enrolled in an eligible institution;
    • 5 calendar years after the date the student initially enrolled in an eligible institution, if the degree is in architecture (Texas CIP Codes Category 04.0201), engineering (Texas CIP Codes Category 14); or
    • 2 calendar years after the date the student initially enrolled in a public or private 2-year institution;

OR

  • Graduated with a cumulative GPA of at least 3.0 on a 4.0 scale, with a total number of credit hours earned (including transfer hours) that is no more than 6 hours beyond what is required to complete the degree or certificate. Hours earned exclusively by examination and dual credit hours should not be included in the total credit hours.

Forgiven B-On-Time loans must be reported to the IRS as taxable income.

Helpful Links:

Texas Tech information: www.depts.ttu.edu/financialaid/
Texas Tech BOT Instructions
Texas Higher Education Coordinating Board: www.hhloans.com

College Access Loan

The College Access Loan Program provides alternative educational loans to Texas students who are unable to meet the cost of attendance. The CAL may be used to cover part or all of the student's Expected Family Contribution (EFC). Students do not have to demonstrate financial need. However, the amount of federal aid for which you are eligible (regardless of whether actually accepted) must be deducted from the cost of attendance in determining the CAL loan amount.

Eligibility:

  • Be a Texas resident; and
  • Be enrolled at least half-time in:
    • a course of study leading to an associate's, bachelor's, graduate, or higher degree; or
    • an approved alternative educator certification program;
  • Meet the satisfactory academic progress requirements set by the institution;
  • Receive a favorable credit evaluation or provide a cosigner who has good credit standing and meets other requirements.
  • You must have a calculated Expected Family Contribution (EFC) as determined by the FAFSA

Interest Rates:

  • A fixed annual rate of 4.5%.
  • Interest is not capitalized.

Fees:

  • 0% fee if either the student or cosigner has an Experian VantageScore of 711 or higher, or
  • 3% fee if either the student or cosigner has an Experian VantageScore between 651 and 710, or
  • 5% fee if either the student or cosigner has an Experian VantageScore between 591 and 650

Loan Range:

  • Students may borrow no less than $100 and up to the cost of attendance minus any other financial aid.
  • CAL will be certified for the loan period requested by the borrower on the application
  • Once the loan has been certified by the school, no changes can be made to the loan periods, requested amount or the loan terms.
  • After the school certifies the loan, the student has 90 days to complete the loan process on www.hhloans.com. If all loan documents are not completed with 90 days of the certification, the lender will cancel the loan request.
  • Funds are not released to the school until 10 business days after the final loan disclosure have been submitted by the borrower

Repayment:

  • Loans have a six-month grace period from the date a borrower ceases to be continuously enrolled as at least a half-time student at an eligible institution;
  • Principal balances under $30,000 have up to a ten-year repayment period with minimum monthly payments of $50;
  • Principal balances of $30,000 or more have a repayment period up to 20 years;
  • The loan will not be sold to another lender;
  • Postponements of loan repayment and income-sensitive or graduated repayment schedules are available.

Helpful Links:


Texas Tech information: www.depts.ttu.edu/financialaid/
Texas Tech Loan Periods: www.depts.ttu.edu/financialaid/loanPeriods.php
Texas Tech CAL Loan Instructions
Texas Higher Education Coordinating Board: www.hhloans.com

Federal Parent PLUS loan

The Federal Direct PLUS Loan is available to parents of dependent undergraduate students who have completed the FAFSA for the appropriate academic year. Interest is charged during all periods. The U.S. Department of Education will evaluate the borrower's credit history to determine eligibility.

Eligibility:

  • U.S. citizens or eligible noncitizens
  • Not in default on any federal educational loans
  • Must meet SAP (student)
  • Enrolled At Least Half time

Interest Rates:

  • 7.21% fixed for 2014‐2015.

Fees:

  • An origination fee of 4.292% will be deducted from each disbursement.

Loan Range:

  • Up to Cost of Attendance minus any financial aid received.

Repayment:

  • Immediate, begins 30‐60 days after last disbursement is made.
    Interest‐Only and Deferred payment options may be available,
    however you will need to contact your loan servicer (once assigned)
    for details. Minimum monthly payment is $50.

Helpful Links:

Texas Tech information: www.depts.ttu.edu/financialaid/
U.S. Department of Education: studentaid.ed.gov

Federal Graduate PLUS loan

The Federal Graduate Direct PLUS Loan is available to qualifying graduate and professional students who have completed the FAFSA for the appropriate academic year. Interest is charged during all periods. The U.S. Department of Education will evaluate the borrower's credit history to determine eligibility.

Eligibility:

  • U.S. citizens or eligible noncitizens
  • Not in default on any federal educational loans
  • Must meet SAP
  • Enrolled half time

Interest Rates:

  • 7.21% fixed for 2014-2015

Fees:

  • An origination fee of 4.292% will be deducted from each disbursement.

Loan Range:

  • Up to Cost of Attendance minus any financial aid received.

Repayment:

  • Immediate, begins 30‐60 days after last disbursement is made.
    Interest‐Only and Deferred payment options may be available,
    however you will need to contact your loan servicer (once assigned)
    for details. Minimum monthly payment is $50.

Helpful Links:

Texas Tech information: www.depts.ttu.edu/financialaid/
U.S. Department of Education: studentaid.ed.gov

Private Educational Loan

Private education loans should only be considered after students and parents have explored federal loan options which often have lower interest rates. Students who have not applied for federal aid, including federal loan programs, may do so by completing the FAFSA online.

Loan Range and Specifics:

  • All loan requests are submitted electronically by the student to the lender and will be certified by the school after all loan application documents are submitted and approved by the lender
  • Interest rates and terms vary by lender
  • Students may borrow no less than $500-$1000 (based on lender's policies) and up to the cost of attendance minus any other financial aid
  • Loan will be certified for the loan period requested by the borrower on the application
  • Once the loan has been certified by the school, no changes can be made to the loan periods, requested amount or loan terms.
  • Funds are not released to the school until 10 calendar days after the final disclosure has been submitted by the borrower.

Helpful Links:

Texas Tech information: www.depts.ttu.edu/financialaid/
Elm Select: http://www.elmselect.com/#/

Repaying Your Student Loans

Additional Aid Opportunities


Scholarships

Scholarships are a great source of funding for higher education. We encourage all of our students to apply with many organizations and scholarship providers in addition to the Texas Tech scholarships. Please visit depts.ttu.edu/scholarships/ for more information.

Top 10% Scholarship Program

The 80th Texas legislature created the Top 10% Scholarship to encourage students who graduate in the top 10 percent of their high school class to attend a Texas public institution of higher education.

Student Employment

The Student Employment Office is designed to help students pursue their educational goals by providing employment resources and professional development opportunities. Additionally, the Student Employment Office provides the human resources function for students and employers of students at Texas Tech University. Please visit West Hall room 309 for more information.

Red Raider Guarantee

In an effort to increase access to higher education, Texas Tech has implemented a plan to guarantee tuition and mandatory fees (based on 30 credit hours for the year) to new entering freshmen and transfer students with an associate's degree, who are Texas residents, have a family adjusted gross income that does not exceed $40,000, and who will be enrolled full time (12 hours or more each semester).

***This program is subject to funding availability.

Eligibility:

  • Must be an entering freshman or transfer student who has earned an associate's degree.
  • Must be eligible to complete the Free Application for Federal Student Aid (FAFSA)
  • Must be a Texas resident
  • Must have a family adjusted gross income of $40,000 or less
  • Must be enrolled full-time (at least 12 hours) each semester
  • Must apply, be accepted for admission and have a complete financial aid file by March 15


Disclaimer – In accordance with NCAA Bylaws, current and prospective student-athletes will be awarded on an individual basis. In some cases, certain forms of financial assistance may not be accepted nor awarded.

Helpful Links:

Texas Tech information: www.depts.ttu.edu/financialaid/