Education

College and Career Resources - Student Financial Aid - Preparation

Federal Student Aid Glossary

You can begin preparing for college by saving money, searching for scholarships, and learning about state aid programs! Each of these are effective ways to find money for school. Scholarships are free money that you can receive based on your academic or personal achievements. State Aid is financial aid that you can receive from your state of legal residence.  You can save using programs through the State of Texas or take advantage of tax benefits for students. You will also want to make sure you investigate financial aid from your college or university of interest.

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Savings Programs

 

The State of Texas and the Federal Government offer ways to finance your college education by saving money. These two programs provide options to help you save money:

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The Texas Tomorrow Funds are prepaid college investment programs that consist of three plans: the Texas College Savings Plan, Texas Tuition Promise Fund and Texas Guaranteed Tuition Plan.

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The Coverdell Education Savings Account (Education Individual Retirement Account) can either be a trust account (created at a bank or trust company that holds funds for specific purposes) or a custodial account (created at a bank, brokerage firm or mutual company that is managed by an adult for a minor). Learn how to save for future education expenses through the Coverdell Education Savings Account (Education Individual Retirement Account) by reading the 2017 Tax Benefits for Education document.

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Tax Programs

 

These Federal Tax Programs can help you save money by giving you a tax credit or reducing your taxable income.  If you’ve taken college courses then be sure to remember these at tax time!

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Federal Tuition and Fees Tax Deduction reduces the amount of your taxable income up to $4,000.

Hope Tax Credit gives you a tax credit up to $1,200 during your first two years of college to make it more affordable.

Lifetime Learning Tax Credit gives you a tax credit of up to $2,000 each year, for education expenses.

Scholarships

 

Some students do not know about the “free money” out there! Most scholarships are merit-based and you may qualify for them. Begin searching for opportunities through these Scholarship Foundations and Search Engines:

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Scholarship Foundations:

Search Engines:

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State Aid Programs

 

As a Texas resident, you can be eligible for State Aid. You live in a great state that offers several types of financial aid to college and university students. Take advantage of it!  Depending on your financial need, academic performance, or ability to borrow, you may qualify for one or more of Texas’ financial aid programs.

Some students do not know about the “free money” out there! Most scholarships are merit-based and you may qualify for them. Begin searching for opportunities through these Scholarship Foundations and Search Engines:

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Types of State Aid Programs:

You can get Tuition and Fees Exemptions if you meet a program’s eligibility requirements. If eligible, you can also receive State Grants which are free money provided by your state. You might also qualify for Private / Corporate Grants which are free money provided by some private institutions or corporations. Most grants are need-based (based on your financial need) or merit-based (based on your skills or abilities). Waiver Programs lower or eliminate your school tuition based on your eligibility. Finally, the Tuition Rebate Program reduces the amount of your college courses to help you save money. You can also get financial help from work, service, and different kinds of loan programs.

Links to State Aid Programs:

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College Aid Programs

 

Be sure to find out if the college or university you are interested in has additional financial aid for you! College Aid is financial aid from your college or school. After searching for scholarships and state aid, look around for schools that offer financial aid.

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Search for any Texas College or University with the list or map found on the links below:

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