Student Financial Aid and Scholarships - Terms & Conditions

1. Disbursement

Disbursement is the process by which Texas Tech University releases awarded financial aid funds (such as grants, scholarships, and loans) to the student’s account.

Financial Aid and Scholarships disbursement begins 10 days prior to the start of the academic term and occurs daily once all requirements are met.

Student disbursements and refunds are based on enrollment hours at the time Federal and State aid is processed. If a student reduces their enrollment hours before the 20th day of classes, their aid may be adjusted. This adjustment can result in the student owing funds back to the institution.

Missing financial aid requirements can delay the release of funds.

Eligibility for financial aid is reviewed annually based on:

• Timely completion of the Free Application for Federal Student Aid (FAFSA) or the Texas Application for State Financial Aid (TASFA) along with any additional required documents.
• Financial need (determined from an annual review of family income/assets, household size, number of family members attending college, etc.).
• At least half-time enrollment in a degree-seeking program.
• Satisfactory Academic Progress (SAP) as outlined on the Student Financial Aid & Scholarships website.

Financial aid availability is determined by annual state and federal allocations and program guidelines. Federal and state financial aid may only be used for the cost of attending an institution of higher education, including direct costs (tuition, fees) and indirect costs (books, supplies, transportation). State and Institutional financial aid is generally offered for one academic year at a time on a first-come, first-served basis.

Texas Tech University will notify you of financial aid-related information (including changes to your eligibility) through your official Texas Tech University email address.

2. Enrollment

Financial aid eligibility assumes your attendance at Texas Tech University for the entire period for which aid is offered.

Enrollment status for financial aid purposes may differ from the Registrar’s definition. This includes internships, repeated coursework, and courses not counting towards your degree.

• Most financial aid types require at least half-time attendance in a degree-seeking program.
• Cost of attendance assumes full-time enrollment for fall and spring semesters. If enrolled less than full-time, your cost of attendance will be adjusted, possibly changing your financial aid eligibility.
• In addition to your credit hour enrollment, the college in which you are enrolled is used to determine your cost of attendance once 60 earned credit hours has been accumulated.
• Financial aid eligibility for accelerated undergraduate to graduate programs depends on classification status by semester.
• Federal aid can only be received for one repetition of a previously passed course; eligibility for repeated courses is evaluated each semester.
• Withdrawal after the semester begins may require repayment of financial aid funds (Return of Title IV funds).
• Earning a grade of “F” in all registered courses in a semester may require repayment of financial aid funds (Return of Title IV Funds).
• Federal regulations 685.309 (b) (2) and 682.610 (c) (2) require institutions to report to NSLDS changes to a student’s enrollment status to less than half-time within 60 days of the date the school discovers that a student has ceased to be enrolled, or has failed to enroll, at least half-time.

3. Satisfactory Academic Progress (SAP)

Federal regulations require all financial aid recipients to maintain SAP towards completing their degree to continue receiving aid. SAP applies to all federal, state, and university aid programs and is evaluated at least annually. Complete details are available on the Student Financial Aid & Scholarships website.

4. Verification

Federal verification requires institutions to verify the accuracy of FAFSA information for randomly selected applicants. If selected, you must provide documentation to verify your FAFSA information. No financial aid disbursements will be made until all verification requirements are met.

After submitting your FAFSA, you will receive an electronic FAFSA Submission Summary, which will indicate if you have been selected for federal verification. You will also receive notification from Student Financial Aid & Scholarships regarding the documentation that must be submitted.

Failure to submit verification requirements could result in cancellation of your financial aid. Future eligibility will be based on the availability of funds at the time verification is completed.

NOTICE REGARDING FINANCIAL AID FRAUD

The TTU Financial Aid & Scholarship Office reserves the right to withhold, limit, or deny federal and state financial aid to any student suspected of engaging in fraudulent activity. TTU adheres to established guidelines for preventing, identifying, and responding to signs of identity theft and financial aid fraud.

5. Grant & Scholarship Assistance

• Full-time enrollment is assumed for need-based grants. Grants may be prorated or canceled if enrollment drops below full-time.
• Enrollment changes may impact scholarship eligibility; contact scholarships@ttu.edu for guidance.
• Scholarship recipients must adhere to the terms and conditions found in ScholarshipUniverse.
• Any scholarships or grants not included on your financial aid notification must be reported to Financial Aid & Scholarships.
• Receipt of scholarships, tuition assistance, fee waivers, third-party payments, or other assistance may require a reevaluation of your financial aid eligibility. Loans are reduced first when possible, but other aid, including TEXAS or Institutional grants, may also be adjusted.
• Texas Tech University scholarship recipients authorize TTU to acknowledge them to donors and the public, and may be required to send a thank you letter to the donor or selection committee.

6. Student Loans

Subsidized and Unsubsidized Federal Direct Loans are offered based on eligibility to students who have submitted a FAFSA and completed the application process.

• Loans may be declined before disbursement by contacting finaid.advisor@ttu.edu.
• Loans may be cancelled within 14 days after the disbursement notice (or by the first day of the payment period, whichever is later). Cancelled amounts are returned to the U.S. Department of Education.
• Entrance Counseling and a Master Promissory Note (MPN) must be completed for disbursement.
• Exit Counseling is required when withdrawing or graduating.
• Students must maintain half-time enrollment status to remain eligible for Direct Federal Loans.

7. Student Employment

• Federal Work-Study is a need-based work program for students enrolled at least half-time who demonstrate eligibility via the FAFSA.
• Texas Tech University also offers part-time employment opportunities for students who may not qualify for Work-Study.
• Employment is not guaranteed; students must secure a position with a hiring department.
• Details are available on the Red Raider Student Employment Center (RRSEC) website at rrsec.ttu.edu.

8. Disclaimer

The information in this document is subject to change at any time and without notice. While every effort is made to ensure accuracy, changes in legislation or policy may impact its contents.