Awards to eligible students are determined through the use of a payment schedule published annually by the U.S. Department of Education. Award amounts vary according to the:
Federal Pell grant funds are paid per semester, and Summer awards can be made if the student’s annual eligibility has not been exhausted during the Fall and Spring semesters.
A separate application form is required for Summer. Check with Student Financial Aid for eligibility requirements.
This program provides grants from $200 to $1,000 to undergraduate students with a zero (0) Expected Family Contribution who are working toward a degree or certificate in an eligible program. FSEOG funds are limited, and therefore are awarded on a first come first served basis to students with completed financial aid applications submitted to the Financial Aid Office.
Texas Public Educational Grants (TPEG) awards assistance to undergraduate students who demonstrate financial need through the FAFSA or as determined by Student Financial Aid. Awards range up to $2,000.00 and the amount of the award is based on need and availability of funds. Funds awarded are designed to assist Texas resident students, non-Texas resident students, students enrolled in a continuing education program, and foreign students. Students also must be undergraduates enrolled for at least six (6) semester credit hours.
The TEXAS Grant Program is available for Renewal student awards only beginning with the 2014-2015 year. The initial year award has been replaced with TEOG program awards (see below). Program eligibility criteria below apply only to initial year awards through Spring 2014.
Awards may be renewed yearly based on criteria set by the Texas Higher Education Coordinating Board. In addition to the above initial year requirements, students must meet the following renewal criteria:
The TEOG Program pays tuition for students who meet the following program criteria:
Awards may be renewed based on criteria set by the Texas Higher Education Coordinating Board. In addition to the above requirements, students must meet the following renewal criteria:
Students who graduate in the top ten (10) percent of their high school class may qualify for a $2,000 scholarship. Students will be awarded on a first-come, first-served basis until available funds have been spent. To be eligible for the first year, students must:
To qualify for renewal, provided funding is available, students must:
The Alamo Colleges award many scholarships, based on the availability of institutional and private funds, to academically meritorious or needy students. Scholarships range from $300 to over $2,000 per academic year (September-May). All scholarships and other financial aid already awarded are taken into consideration when determining eligibility. Scholarship lists and applications are available online.
The Scholarship Office at each of the Alamo Colleges is responsible for the application procedures, selection of recipients, notice of scholarship award, renewal and revocation processes for the respective colleges.
The Alamo Colleges provides student loan funds directly from the Federal Government under the William D. Ford Federal Direct Loan Program.
Direct Student Loans are low-interest student loans certified by the Alamo Colleges and guaranteed by the federal government. The interest rate for subsidized and unsubsidized loans is fixed at 3.86% for loans borrowed on or after July 1, 2013.
For subsidized loans, the federal government pays the interest while the student is enrolled at least half-time. Unsubsidized loans, on the other hand, require students to make interest payments or to agree to capitalize the interest, which is deferred but becomes part of the principle. Dependent students may borrow up to $3,500 during their grade level one (1) year and up to $4,500 in grade level two (2) in addition to $2,000 of unsubsidized loans each year. Independent students can borrow up to the same level of subsidized amounts per grade level, and an additional $6,000 in unsubsidized loans per year. Because subsidized loans are based on financial need, the SFA Office establishes the amount students are eligible to borrow. Student loan repayment begins six (6) months after the student leaves school or drops below half-time status.
Students applying for loans are required to complete a loan entrance interview session if they are a first time borrower, and an exit interview if they are graduating, transferring, or withdrawing from the college. For information on loan applications and deadlines, visit the Alamo Colleges Financial Aid Direct Loans web site. Additional information about the Federal Direct Loans program is available at www.studentloans.gov.
The PLUS Program allows parents to borrow up to the cost of education for each dependent enrolled in college at least half-time. PLUS loans are made through the Federal Government at a variable interest rate not to exceed 8.5%. Repayment for parent borrowers begins sixty (60) days after disbursement of the entire loan amount. The PLUS loan amount, together with all other financial aid, may not total more than the student’s Cost of Attendance at one of the Alamo Colleges.
Students who are participating in the Federal loans program are encouraged to complete a Financial Literacy course available online at the Financial Aid Office website.
Consolidation Loans may be arranged to combine loans made to a student under Title IV programs and the Health Professions Student Loan (HPSL) Program. These loans provide repayment periods appropriate for the total amount outstanding. For example, a student whose total loan debt exceeds $7,500 may be given a repayment period longer than ten (10) years. Repayment of a Consolidation Loan must begin within sixty (60) days after the selected loans have been consolidated. Students must contact their lenders to find out if they qualify for a Consolidation Loan.
The Short-Term Loan is a zero percent (0%) institutional emergency loan with a modest fee to pay tuition and fees that must be repaid in thirty (30) days. These loans are offered prior to the start of the Fall and Spring semesters only. Students work with the SFA Office to determine their eligibility and the amount of the loan. Students must show proof that they have applied for and will be eligible for a PELL grant. Funds are limited and a separate application is required.
The Federal Work-Study (FWS) Program provides work opportunities for undergraduate students enrolled at least half-time who demonstrate financial need to help pay for their educational expenses. The hourly pay rate is typically at or above current federal minimum wage. The amount of FWS awarded depends on a student’s financial need, availability of funding, and the amount of other aid the student receives. Students may not work more than nineteen (19) hours per week. FWS students are paid twice (2) per month. State and Institutional Work-Study programs may also be available if the federal funding level is insufficient to meet the demand for student workers.
Students who participate in the Federal Work-Study program are encouraged to complete a Financial Literacy course available online at the Financial Aid Office website.
Private, off-campus employment is administered by many local community or city agencies that hire Alamo Colleges’ students. The firms’ policies are not related to the Alamo Colleges. In addition to earning money while attending college, students have an opportunity to participate in the local work force and gain valuable work experience.