Head BannerTASFA

FAFSA:
FAFSA stands for Free Application for Federal Student Aid, basically Pell Grants and Federal Student Loans. The FAFSA is based upon the need of the student and his parents. The greater the need the more aid up to a certain point. (See Chart Below) FAFSA is based upon your IRS returns. The basic forms that you will need to fill out the FAFSA is your IRS Returns and Bank Statements. The application is very detail. FAFSA wants to know the financial details that is happening in the family including child support, the student's income (if they have one), or any other income that could be coming into the household. It takes approximately a hour to fill out the FAFSA application.

The Pell Grant is not a loan. It doesn't have to be paid back. The maximum amout per school year or two semester is $5,500 ($2,750 per semester). The Pell Grant decisions come from FAFSA. You can receive the Pell Grant up to 12 semesters or the equivalent .

You cannot receive a Pell Grant if you have served time in a State or Federal Penal Institution.

The Federal Loan come in two Categories: Subsidized and Unsubsidized Loans. The main difference between them is the Subsidized Loan, the federal government is paying the interest but you are responsible for the principle. The Unsubsidized loans you are paying for the interest and principle. The College or University also makes the decision on how much of a loan you'll get from the federal government.

If you have any further question please contact your School Counselor or click on the links that The College Hour has provided for you.

"The following chart provides maximum annual and total loan limits for subsidized and unsubsidized loans as of July 1, 2012.

Year

Dependent Students (except students whose parents are unable to obtain PLUS Loans)

Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)

First-Year Undergraduate

$5,500—No more than $3,500 of this amount may be in subsidized loans.

$9,500—No more than $3,500 of this amount may be in subsidized loans.

Second-Year Undergraduate

$6,500—No more than $4,500 of this amount may be in subsidized loans.

$10,500—No more than $4,500 of this amount may be in subsidized loans.

Third-Year and Beyond Undergraduate

$7,500 per year—No more than $5,500 of this amount may be in subsidized loans.

$12,500 per year—No more than $5,500 of this amount may be in subsidized loans.

Graduate or Professional Degree Students

Not Applicable

$20,500

Maximum Total Debt from Subsidized and Unsubsidized Loans

$31,000—No more than $23,000 of this amount may be in subsidized loans.

$57,500 for undergraduates—No more than $23,000 of this amount may be in subsidized loans.

$138,500 for graduate or professional students—No more than $65,500 of this amount may be in subsidized loans.
https://studentloans.gov/myDirectLoan/index.action
The graduate debt limit includes all federal loans received for undergraduate study.

 

Note: The maximum total loan limits include any Subsidized Federal Stafford Loans or Unsubsidized Federal Stafford Loans you may have received under the Federal Family Education Loan (FFEL) Program. As a result of legislation, no further loans are made under the FFEL Program as of July 1, 2010.

Graduate and professional students enrolled in certain health profession programs may receive additional unsubsidized Direct Loan amounts each academic year beyond those shown above. For these students, there is also an increased aggregate loan limit of $224,000 (maximum $65,500 subsidized)."

Note:This Information was copied from the Federal Student Aid Website.

To apply for Graduate Loans and Parent Plus Loans.
https://studentloans.gov/myDirectLoan/index.action

To apply for a Pell Grant and Federal Student Loan .
http://www.fafsa.ed.gov/

 

TASFA:
TASFA is a State of Texas Financial Aid for foreign students that want to attend a public college or university in Texas but aren't an US citizen.
TASFA stand for Texas Application for State Financial Aid. TASFA has limited funds. It is based upon what the State of Texas has budgeted
for that school year. If you're thnking that you need to apply for this loan or grant then you must do it as early as possible to get financial support.

Talk to you School Counselor or the Texas College or University in there Financial Aid Department for more information or an application.

TASFA Eligibility

You are eligible to file the TASFA if you meet the residency status requirements of the House Bill 1403/Senate Bill 1528 and attend a qualifying public college in Texas. You may file either the FAFSA or the TASFA based on your U.S. citizenship/residency status, but not both.

To qualify for in-state residency status, you must meet all of the following conditions:

  • You must hold a visa that enables you to reside in the U.S.
  • You have filed an I-130 or I-140, petitioning for permanent residency status.
  • You have resided in Texas for 3 years prior to high school graduation or receipt of a GED. During this time you must have lived at least part time with a parent or court-appointed legal guardian.
  • You cannot have established a residence in another state and cannot have any college hours prior to fall 2001.

If you meet the above qualifications, you can apply for state aid by filing the TASFA application. Note that qualifying for application eligibility does not guarantee funding — you still need to submit your application.

Additionally, qualifying applicants must be registered with the selective service (males only) and have filed taxes (if required by the IRS).

Note:This Information was copied from FAFSAonline website.
http://www.fafsaonline.com/financial-aid-application/tasfa.php

For the TASFA Application Click on the link below:
http://media.fafsaonline.com/downloads/tasfa-application.pdf

 

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