Texas Educational Opportunity Grant (TEOG) Program

Transcription

1 Texas Educational Opportunity Grant (TEOG) Program Financial Aid Workshop June 26, 2014 TEOG Program Basics Initial Year (IY) and Renewal Year (RY) Eligibility Satisfactory Academic Progress (SAP) New in Funds Request Process Student Award History Scenarios Deadlines and Important Contact Information 1

2 TEOG What is a Texas Educational Opportunity Grant (TEOG)? Provides grants of money to eligible needy students at public 2-year institutions in Texas Funded through appropriations CB allocates available funding to participating institution annually TEOG IY Eligibility Texas Resident determined by the institution Enrolled at least ½-time as an entering undergraduate student having not accumulated more than 30 SCH s (excluding credits for dual enrollment or by examination) Registered with Selective Service, or exemption 2

3 TEOG IY Eligibility Cont. No felony conviction or crime involving a controlled substance Demonstration of financial need 9-month EFC cap for 13/14 = $2,000 9-month EFC cap for 14/15 = $4,800 Not concurrently receiving a renewal TEXAS Grant TEOG RY Eligibility Enrolled at least ½-time as an undergraduate student who previously received an IY TEOG award Maintain: Classification as a resident of Texas Registration with Selective Service, or exemption No felony conviction or crime involving a controlled substance Financial need (no EFC cap) Meet satisfactory academic progress (SAP) requirements 3

4 TEOG SAP SAP requirements for an RY award Award Type GPA Completion Rate End of Initial Year Institution s SAP Institution s SAP End of 1 st Renewal Program SAP 2.5 cumulative GPA Program SAP 75% completion rate 4 years; 75 SCH s attempted while receiving the grant; or Associate s Degree. Maximum Time Frame Whichever comes first! 4

5 New in TEOG allocations will be increased in FY15 to compensate for the absence of TEXAS Grant IY funding Funding in 2014: $13.9 million Funding in 2015: $60 million New in Cont. TEOG RY students should be given priority for available funding Transferring authority between TEOG and TEXAS Grant funds will no longer be possible since you will not have a TEXAS Grant allocation TEXAS Grant RY funds will be made available on an as needed basis 5

6 Award Amounts Institution Type Award Maximu m Per Year Award Maximum Per Semester Based on Census Date Enrollment Full-Time (12 or more SCH s) Three- Quarter Time (9-11 SCH s) Half-Time (6-8 SCH s) < Half- Time (1-5 SCH s) Public State Colleges $8,000 $4,000 $3,000 $2,000 $0 Public Community Colleges $2,700 $1,350 $1,013 $675 $0 Public Technical Colleges $4,700 $2,350 $1,763 $1,175 $0 New in Award amounts must be prorated in relation to enrollment status as of the census date. 12 hours or more =100% of maximum award 9 to 11 hours = 75% of maximum award 6 to 8 hours = 50% of the maximum award < 6 hours = 0% (unless granted a hardship under the hardship provision or due to < 6 remaining of the 75 SCH limit, at which time the hardship proration schedule applies) 6

7 Required Proration What is the proration schedule for enrollment less than 6 hours due to hardship approvals? The maximum award for the semester divided by 12 and multiplied by the number of hours enrolled Required Proration What is the proration schedule for a student enrolled at least ½-time with fewer than 6 hours remaining of the 75 SCH limit? 25% of the maximum award amount for the semester 7

8 Requesting TEOG Funds Refunds Returning Funds to the Coordinating Board An notification must be sent to the TEOG box at: The program specialist will make any needed adjustments to the institution s accounting records and either follow-up with a confirmation or request more information to complete the process. Refer to your refund instructions. 8

9 Retroactive or Late Disbursements Funds that are disbursed after the end of a student s period of enrollment must either be used to pay the student s outstanding balance from his/her period of enrollment at the institution, or to make a payment against an outstanding loan received during that period of enrollment. Under no circumstances should funds be released directly to the student. Objective: Student Award History File To provide institutions with a secure method of obtaining transfer student award history in a user friendly format Purpose: To deliver prior award information that can be used to help determine a student s eligibility for state aid Report: The reports will only produce information for those students that are found in the database Guidelines and instructions for submitting information coming soon. 9

10 You have a student who is eligible for a TEOG award in 14/15. She enrolls in 6 hours Scenario for fall and remains a #1 half time student through the census date. Can she receive 100% of the maximum award allowed? You have a student who has been receiving a TEOG award and continues to meet the eligibility Scenario requirements. He is enrolled #2 in 12 hours, but only has 4 hours of eligibility remaining in the program. Is he eligible for 100% of the award? 10

11 A student is enrolled in 14/15 for 12 SCH s and Scenario receives 100% of the maximum #3award allowed. Prior to the census date, the students drops down to 6 hours. Is the student still eligible for a TEOG award? Scenario #4 You submitted a funds request for 20 IY students for the fall term. In spring, you submit another funds request for the same 20 IY students. On Step 2 of your funds request form, do you include the student count for the previously reported students? 11

12 Program Deadlines July 15, 2014: Last day to submit and certify FY14 year- end reports September 1, 2014: First day institutions can begin requesting FY15 funds February 20, 2015: Institutions lose claim to unencumbered/unrequested funds, and last day to request a reallocation if funds are available Distribution List: Information concerning State Grants and Special Programs is communicated to institutions through the GSP distribution list. To subscribe: Contact Information: Grants and Special Programs (Austin metro) (outside Austin metro) [email protected] JoElla Martinez Program Specialist [email protected] GSP Information Website: 12