Upon admittance to TAMHSC, the FAFSA and all required documents received are processed by the Office of Student Financial Aid. The initial process may result in the student being awarded aid or in the request for additional documentation. Students are awarded (packaged) financial aid depending on eligibility and the availability of funds.
Financial aid is usually awarded for the academic year (fall and spring), and split equally between semesters. Due to Federal and State allocations and awarding restrictions, many grants are limited to early applicants and awarded on a first-come, first-serve basis. Our goal is to use a combination of all aid available to meet the student's cost of attendance.
Stafford loan eligibility is determined by the FAFSA and institutional requirements. Loan amounts are based on a student’s classification and dependency status (see DL Amounts and Interest Rates). Eligibility for the type of Stafford loan, subsidized or unsubsidized, is also based on “need”.
The Expected Family Contribution (EFC) is calculated by the federal processor using data which the student provides on the FAFSA, and is reported on the Student Aid Report (SAR) sent to the applicant from the Department of Education. This number reflects the amount which the student is determined able to contribute to educational expenses for the given year. It is based on student and parent (if applicable) income, assets, household size and other variables. The student is not obligated to pay the EFC amount, but it is used in the determination of need-based financial aid.
The Expected Family Contribution (EFC) is subtracted from the Cost of Attendance (COA) to calculate the student's eligibility for need-based financial assistance.
Cost of Attendance – Estimated Family Contribution = Amount of Eligibility for Need-Based Aid
Need-based financial aid is gift-aid (scholarships, grants) and subsidized loans (does not accrue interest while enrolled at least half-time in a degree seeking program). Grant fund amounts are contingent upon enrollment status. Awards may be reduced as a result of a withdrawal, LOA or less-than-full-time enrollment status. Financial aid not considered need-based includes unsubsidized Stafford, PLUS, GradPLUS and private educational loans.
Students will be notified of their awards and outstanding requirements via email from our student information system. The email will provide students with instructions on how to view and accept or decline their awards online (myHSC through Summer 2014, Howdy starting Fall 2014 on). Students must "accept" awards before funds can be disbursed to their account to pay outstanding charges.
It is important to read all correspondence and information carefully. Many financial aid awards require the student to complete additional requirements prior to disbursement.
If financial aid is in an “Offered” status, a student has the option of accepting, reducing or declining (cancelling) the offer. All activity may be completed in the appropriate student portal.
If a student or student’s immediate family experiences changes which affect their financial status as reported on the FAFSA, OSFA may review the information to determine if the student is eligible for additional financial aid. Learn more.