Monday, December 13, 2010

Attention: Texans with College Kids. Did You Know This?

If you have paid college tuition in the past three years a portion of it has gone to the support financial aide per Texas Education Codes 56.011 and 56.011.  The kicker is that this bill was passed a few years back and just recently the legislators voted to require that a a letter be sent to notify you that part of your tuition was going places other than tuition for your college classes. I have contacted Senator Nelson and Representative Tan Parker who both stated they have been getting several calls on this issue.

Tuition Set Aside for Financial Assistance Notice
In accordance with provisions of the Texas Education Code, Section 56.014, each semester UTSA will provide an e-mail to every student that has paid designated tuition. The notice will indicate the amount of their tuition that is required to be set aside and used for need-based financial aid to UTSA students. No action is necessary by the recipient as the email is for information purposes only.
The below chart illustrates how the financial aid set-aside is calculated:

Resident Student
Non-Resident Student
Undergraduate
20% of Designated Tuition (G001) that exceeds $46 p/SCH
Education Code Sections 56.011 & 56.465
N/A
Graduate
15% of Designated Tuition (G001) that exceeds $46 per SCH.
Education Code Section 56.012
N/A
Doctoral
15% of Designated Tuition (G001) that exceeds $46 per SCH, PLUS $2 per SCH
Education Code Sections 56.012 & 56.095
$2 per SCH
Education Code Section 56.095

For more information, see administrative guideline 3.3 - Financial Aid Set Asides from Tuition Revenue.

No comments: