Web site at: www.utep.edu/faidschl
TYPES OF FINANCIAL ASSISTANCE
The following summaries of financial aid are provided for information only and are subject to legislative acts. Complete details of the programs are available through the Office of Student Financial Aid.
Pell Grant: The Federal Pell Grant Program is a federal student aid program designed to assist students in pursuing their first undergraduate degree. The purpose of the Federal Pell Grant is to provide eligible students with a foundation of aid to help pay the cost of attending school. Students who have applied for the Federal Pell Grant will receive a "Student Aid Report" (SAR) within six weeks after submitting the application. The SAR should be forwarded to The University of Texas at El Paso Student Financial Aid Office so that the calculation of the Federal Pell Grant award can be made. Undergraduate students must apply each year for the Federal Pell Grant. Students must maintain satisfactory progress in order to remain eligible for the program.
Supplemental Educational Opportunity Grant (SEOG): The Federal SEOG is available for students who are enrolled and in good academic standing, making satisfactory academic progress, and demonstrating exceptional financial need. Priority will be given to students enrolling full-time and observing the application submission deadlines.
Texas Public Education-State Student Incentive Grant (TPE-SSIG): This is a state-matched grant to be awarded based on financial need. Applicants may be graduate or undergraduate students and must be enrolled part-time or more. It is necessary to file a separate application for this grant.
Texas Public Education Grant (TPEG): This grant provides financial assistance to undergraduate and graduate students with financial need enrolled at least half-time.
Student Employment (Federal College Work-Study Program)
The Federal College Work-Study Program provides jobs for students who have documented financial need and who wish to earn part of their educational expenses while going to school. Jobs cannot exceed fifteen hours per week at both on-campus and off-campus worksites and range from clerical worker to research assistant. The student will be paid at the prevailing minimum wage rate, as prescribed by federal law. Graduate and undergraduate students demonstrating financial need are eligible for participation in this program as long as they are enrolled on a full-time basis.
The Office of Student Financial Aid offers assistance to students through various long-term loan programs. All recipients of a long-term loan are required to attend Pre-Loan Counseling or Review Session through this office prior to receipt of loan funds. Loan repayment begins at the end of a grace period or after the student ceases being at least a half-time student. If payment is not made after the grace period, the student's loan is in default. The lending agency can then take necessary action to obtain payment to include use of a collection agency or court action. If this type of action is taken, the individual is required to repay the entire loan plus costs of collection.
The long-term educational loans available through the Office of Student Financial Aid have many repayment benefits of which the prospective borrower should be aware. All of these loans defer payment while the borrower is enrolled in a course of study at least half-time. Loans may not be released and remaining loan amounts will be canceled if the borrower drops below half-time. Repayment is made on a monthly basis, over a period not exceeding ten (10) years. Please refer to the most current Financial Aid brochure for repayment information. Specific descriptions of the various loan programs are listed below.
Federal Perkins Loan: This loan requires evidence of financial need for eligibility. The interest is 5% and does not accrue while the student is enrolled at least half-time. There are provisions for partial cancellation and deferral for designated public service.
Federal Subsidized Stafford Student Loan: This loan requires evidence of financial need for eligibility and is offered through participating lending institutions. It has a variable interest rate applied at 8.25% and the Federal Government will pay the interest as long as the student is enrolled at least half time. Under this plan, the student is responsible for selecting a bank or lending institution that participates in the Federal Family Education Loan Program. This loan is available for both undergraduate and graduate students.
Federal Unsubsidized Stafford Student Loan: Unlike the Federal Subsidized Stafford Loan, this loan does not require evidence of financial need for eligibility. In addition, the student is responsible for the interest on the loan while in school.
Tuition and Fees Loans: These loans are available to students who need assistance in meeting the costs of tuition and fees. They are available to resident, non-resident, and international students, and documentation of need as described elsewhere in this section is not required for these loans. The loan must be repaid during the semester in which it is obtained and there is a 5% per annum interest charged. A special application form is available from the Office of Student Financial Aid; refer to your class schedule for times and locations.
Emergency Cash Loans: Emergency student loan funds are maintained to assist students who are temporarily in need of funds for books or other expenses. All regularly enrolled students who do not have an outstanding emergency loan are eligible. Loans must be repaid during the semester in which the loan is obtained. There is a $100 limit and a 5% handling fee is added to each loan.
Persons who have resided in Texas for at least twelve months prior to the date of registration, and who were citizens of Texas at the time of entry into military service, and who served in the Armed Forces or in certain of the auxiliary services in World War II (except those who were discharged because of being over the age of 38 or because of a personal request), the Korean War, and for more than 180 days during the Cold War, and were honorably discharged therefrom, and who are not eligible to receive benefits provided for veterans by the United States government, are exempt from the payment of tuition and certain required fees, but not from the payment of deposits. To obtain this exemption, the veteran must complete an application through the Office of Student Financial Aid. A certified copy of the veteran's service record (Form DD-214) must be submitted with the application. Students must also complete a Free Application for Federal Student Aid (FAFSA) to determine Pell eligibility and obtain student loan history. Students who have defaulted on a Federal Student Loan or have attempted 150 credit hours under the act are not eligible for this program. The benefits may also be extended to the children of members of the armed forces who are missing in action or whose death is documented by the armed services as being directly caused by illness or injury connected with services in the armed forces, and to orphans of members of the Texas National Guard who were killed while on active duty since January 1, 1946. For more information, contact the Office of Student Financial Aid.
The University of Texas at El Paso
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Revised: January 22, 2001