HSC Financial Aid for Undergraduate

Application and Eligibility

To receive Federal and State aid, you must complete the Free Application for Federal Student Aid (FAFSA). When financial aid is awarded, HSC is required to take into consideration both your Cost of Attendance and Student Aid Index (SAI). The SAI is the amount of assistance you and your family are expected by the federal government to contribute towards your education during an academic year.

Eligibility Requirements

To be eligible to receive need-based and non-need-based Federal assistance, a student must:

1. Be a U.S. citizen, U.S. national, or U.S. permanent resident or reside in the United States for other than a temporary purpose (supportive documentation may be required to verify residency or citizenship status).
2. Be accepted by HSC and enrolled in required courses in a degree seeking program.
3. Certificate Programs are not eligible for federal aid.
4. Maintain Financial Aid’s Satisfactory Academic Progress (SAP) in their program of study.
5. Not be in default of any loan or owe a repayment on a Federal Pell Grant, FSEOG, or State Grant.
6. Demonstrate financial need.

What is TASFA?

https://www.youtube.com/watch?v=SS1t-9pzIkU

The Texas Application for State Financial Aid (TASFA) helps collect information for institution or higher education to assist in the eligibility for state financial aid programs. Students that are classified as a Texas Resident who cannot apply for federal financial aid using the Free Application for Federal Student Aid (FAFSA) are encouraged to complete the TASFA.

Texas Application for State Financial Aid 2024-25

TASFA Application Process

1.  Complete the Paper TASFA application

• • Include yours and your parents’ signature on the application if you are a dependent,
  • Include your signature only if you are considered an independent.

2. Include your Signed 2020 Tax Transcript or Signed 1040 Tax return with your Application
   • Request your transcripts at https://www.irs.gov/individuals/get-transcript

3. Send Residency Affidavit to the HSC Admission’s Office

Award Process

For more information on the Awarding Process, please see: HSC Financial Aid Awarding Process

Types of Aid

Federal Pell Grant

Undergraduate students seeking their first bachelor’s degree who have an SAI between $-1500 and $7,395 may be eligible to receive the Federal Pell Grant. Annual offers for 2024-2025 range from $740 to $7,395. The amount a student can receive is based on a federally mandated formula approved by the United States Congress. Students must enroll full-time to receive their full Pell Grant eligibility for the semester. If a student enrolls less than full-time, the Pell Grant will prorate accordingly based on the student’s enrollment.

PLEASE NOTE: Not all students qualify to receive a Pell Grant for less than full-time enrollment. Please contact the Office of Financial Aid for any questions regarding how enrollment affects aid. Students may not receive Federal Pell Grant funds from more than one college or university during the same semester. Students may receive Federal Pell Grants for up to 6 years of full-time study. Once a student receives Federal Pell Grant funds for 6 years, they have met the Lifetime Eligibility Usage (LEU) and are no longer eligible to receive grant funds through this program.

Federal Direct Loans

The first step to receive Federal Direct Subsidized and Unsubsidized loan, is to complete your FAFSA. HSC will always offer you the maximum loan eligibility as part of your yearly award. You will need to make the decision on how much loans you will want to take as a Responsible Borrower. Remember to only borrow what you will need.

https://www.youtube.com/watch?v=mTHtn0FRMWw 

In order for your student loans to be disbursed at HSC:

• You must be enrolled in at least half-time in a degree-seeking program (6 hours)
• You must complete the Direct Loan Entrance Counseling (if you are a first-time student loan borrower or previous counseling has expired)
• You must complete the signing of the Master Promissory Note (MPN, if you are a first-time student loan borrower at HSC or a previous MPN has expired)

The amount of funding you are eligible to receive in Federal Direct Subsidized and Unsubsidized Loans varies based on your financial need, dependency status, and grade level. Interest rates and repayment options also vary by loan type.

• Federal Direct Subsidized Loans are available to undergraduate students who demonstrate financial need.
• Federal Direct Unsubsidized Loans are available to undergraduate and graduate students, regardless of financial need.
• Both Subsidized and Unsubsidized interest rate is 6.53% (current rate as of July 1, 2024)

ANNUAL LOAN LIMITS

Please utilize the chart below to determine the maximum amount in subsidized and unsubsidized loans you are eligible to receive each academic year. Dependent Undergraduate students have an aggregate limit of $31,000 ($23,000 in Subsidized loans and $8,000 Unsubsidized loans), while Independent undergraduate students have a limit of $57,500 ($23,000 in Subsidized loans and $34,000 Unsubsidized loans). If the total loan amount you receive reaches the aggregate loan limit, you are not eligible to receive additional federal loans. If you repay some of your federal loans to bring your outstanding loan debt below the aggregate loan limit, you could then borrow federal loans again, up to the amount of your remaining eligibility under the aggregate loan limit.

You may qualify for other loan options available if you reach the federal student loan annual or aggregate limit.

PARENT PLUS LOANS FOR PARENTS OF DEPENDENT UNDERGRADUATE STUDENTS

In order for a parent to apply for a Federal Direct PLUS Loan, the student must first submit the Free Application for Federal Student Aid (FAFSA) to HSC. The maximum loan amount is the cost of attendance (determined by the HSC Office of Financial Aid) minus any other financial aid received. A Direct PLUS Loan cannot be transferred to the child; the parent is the borrower and is legally responsible for repaying the loan.
If you are eligible for a Direct PLUS Loan, you will be required to sign a Master Promissory Note agreeing to the terms of the loan.

Here are some things to keep in mind about Direct PLUS Loans:
The U.S. Department of Education is your lender.
You must not have an adverse credit history.

• If you have an adverse credit history, you may still receive a Direct PLUS Loan through one of these two options:
  1. Obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay it (the endorser cannot be the child on whose behalf you are borrowing).
  2. Documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances relating to your adverse credit history.

PARENT PLUS LOAN DENIALS

If a parent’s application for a Direct PLUS Loan is not approved, the student can request the HSC Office of Financial aid offer an additional Federal Direct Unsubsidized Loan for the current aid year. The student is the borrower on any additional Federal Direct Unsubsidized Loans offered. If your parent is denied a PLUS Loan, please forward the PLUS Loan denial letter to FinAid@unthsc.edu to request the HSC Office of Financial Aid review your account and determine your additional unsubsidized loan eligibility.

Please note: The aggregate loan limit is increased to the independent limit for a dependent undergraduate student if they have received additional unsubsidized loans due to a parent’s PLUS Loan application denial.

The amount of additional unsubsidized loans students are eligible to receive each year varies by grade level:

Federal Direct Loan Proration Policy

Loan proration impacts undergraduate students applying for graduation who are receiving Federal Direct Subsidized and Unsubsidized Loans.

Federal regulations require schools to prorate the Federal Direct Loan amounts for graduating undergraduate students when their final period of enrollment is less than a full academic year. The loan limit proration determines the maximum loan amount that a student may borrow for the final term of study based on the degree they are earning.

Graduating undergraduate students who are only attending one semester of the academic year will have their Federal Direct Loans prorated based on the number of credit hours they are enrolled.

Note: Graduate and professional students are excluded from the loan proration requirement.

Study Abroad

Currently there are no Study Abroad programs approved for financial aid assistance

FA Policy

Return of Funds Policy

If you receive financial assistance and withdraw from all courses at HSC, you may be required to return some of the Federal, State and Institutional funds that were offered to you. These funds would be returned to the original accounts from which they were released from. You may be eligible for a refund of a portion of tuition paid to the University for the semester.

The Federal Return of Title IV Funds policy requires that a portion of federal aid be returned if the student withdraws on or before completing 60% of the semester for which the student received federal aid. Students are considered to be withdrawn as of the date that the last drop or withdrawal enrollment transaction is completed by the Office of Admissions, Records and Registration.

Unofficial Withdrawal

If you receive an F for all grades in a semester or a combination of all F’s and W’s, you are subject to the Return of Title IV Funds calculation. If your professors cannot provide documentation detailing when you ceased attending your courses, then all federal funds offered for the term will be returned.

Beginning Attendance and Course Failure

Federal financial aid regulations require us to confirm whether or not a student began attendance in at least one course in order to establish eligibility for federal student loans, and in each course for Pell and FSEOG grants.

Instructors confirm which students began attendance/participated in their courses when they report grades at the end of each term. Instructors may reference attendance records, graded assignments, quizzes, exams, communications, or papers to confirm that the student began academic participation. If the instructor confirms that attendance began in the class, there will be no adjustment to financial aid offers. If we do not receive confirmation that attendance began in the course(s), we are required to adjust financial aid based on the remaining eligible hours enrolled. If we do not receive confirmation that attendance began for any enrolled course, we are required to cancel ALL federal financial aid.

All enrolled students, are required to review the Financial Aid Policies and Disclosures:

• Satisfactory Academic Progress (SAP)
• Withdraw/Leave of Absence/Return of Title IV 
• Repeating Course Work
• Rights and Responsibilities 
• Consumer Information 

 Resources

http://www.collegeforalltexans.com/