Funding your Education (2024)

The Financial Aid Process

2024-2025 Free Application for Federal Student Aid (FAFSA) Update

There has been a lot of news surrounding the 2024-2025 FAFSA and we wanted to be sure you are informed with the latest and how it will impact you at TTUHSC.

STEP 1 – Student Applies for Financial Aid

  • First, we recommend eligible students submit the 2024-2025 FAFSA for the Summer 2024, Fall 2024 and Spring 2025 semesters. This is available to you now at www.studentaid.gov.

STEP 2 – Department of Education processes applications and sends data to schools

  • The Department of Education is expected to release FAFSA data to schools end of April.
  • While this is much later than previous years, this timeline is not currently expected to delay our normal award offer processing.

STEP 3 – TTUHSC processes FAFSA and offers financial aid to students

  • Please be aware that it can take our office 2-3 weeks to process initial FAFSA data and begin to offer financial aid (grants and/or loans) to eligible students.
  • If we must review or make changes to your FAFSA data, we will notify you by email. This includes any additional requirements or documents we may need to complete your FAFSA file.
  • During this time, you will need to check your WebRaider portal for any financial aid requirements. The sooner these are completed then the faster we can process your FAFSA and offer your aid.

STEP 4 – Students view/accept aid

  • Once we have processed your FAFSA and offered your financial aid, you can go to your WebRaider portal to view and accept or decline your aid.
  • Students enrolled in summer terms will need to do this ASAP so that their summer aid can help pay their bill and any eligible refunds can be processed.

If you have any questions, please don’t hesitate to contact our team at financial.aid@ttuhsc.edu.

Federal Title IV Funds and Authorization

Title IV funds are federal student financial aid funds. These funds are from federal programs administered by the U.S. Department of Education. The U.S. Department of Education regulations require schools use your Federal Student Aid to only pay for specific, current academic year institutional charges.
Allowable charges include:
  • Tuition
  • Mandatory fees
In compliance with these regulations, TTUHSC must obtain voluntary permission from the student to apply Federal Title IV financial aid funds to non-allowable charges.
Non-Allowable charges include:
  • Student health insurance (Authorizing the use of financial aid for non-allowable charges does not automatically sign you up for student health insurance)
  • Late fees
  • Library fines
  • Parking fines

What are Federal Title IV funds?

  • Direct Subsidized/Unsubsidized Loan
  • Direct PLUS Loan (Graduate and Parent Plus)
  • Federal Pell Grant
  • Federal SEOG Grant (Supplemental Educational Opportunity Grant)

Complete Title IV Authorization

To complete your Title IV Authorization, login to your TTUHSC WebRaider portal and access your HSC Student Financial Aid link. Access your current financial aid year awards and click the links for Title IV Authorization. Here, you will indicate if you authorization for your Federal Title IV financial aid funds to be used to other institutional charges. Your authorizationwill remain in effect for future terms unless you contact our office to make changes.

If you choose not to complete the authorization, the form questions will remain on your student awards portal, but will not prevent disbursem*nt of student financial aid funds. Your Title IV financial aid funds will only post to your allowable institutional charges. Student Business Services may issue you a refund of any remaining funds and they may issue a bill for any charges that could not be paid with your Title IV financial aid. Receiving a refund does not indicate that there are no pending charges on your account. For account inquiries check your Student Business Services Tuition bill via your WebRaider portal.

Please contact our office for any questions regarding Title IV Authorization.

Professional Circ*mstances

The 2024-2025 FAFSA is based on 2022 income information. We understand the past few years have been difficult and challenging for many of our students and their families. The 2022 income listed on your FAFSA may have changed or your family has different circ*mstances since 2021. As a result, your FAFSA data today for the 2024-2025 academic year may not accurately reflect your current circ*mstances.

If your income or family situationhas changed, we might be able to assist you through the Special Circ*mstances/Professional Judgment process. Learn more by visiting our Professional Judgment/Special Circ*mstances webpage

Short Term/Emergency Tuition Loans

Short term loans are offered to all students currently enrolled through the Texas Tech University Health Sciences Center, except those students who are within 30 days of their graduation date. The Emergency Tuition Loan is intended to pay the total cost of tuition and fees. Short Term Loans are also available to buy books and supplies, or for other living expenses. All types of loans have a maximum repayment termof 90 days. Short Term/Emergency Tuition Loans

Student Financial Aid Survey Information

Student Financial Aid Survey - Results and Information for Students

Student Orientation Presentations

  • Graduate School of Biomedical Sciences Financial Aid Orientation
  • School of Health Professions Financial Aid Orientation
  • School of Nursing Financial Aid Orientation
  • School of Medicine Financial Aid Orientation
  • Jerry H. Hodge School of Pharmacy Financial Aid Orientation
  • Julia Jones Matthews School of Population and Public Health Financial Aid Orientation
  • Future Healthcare Professionals
  • MSIV Orientation

Scholarship Information

  • Biomedical Sciences
  • School of Health Professions Scholarships
  • School of Medicine Scholarships
  • School of Nursing Scholarships
  • Jerry H. Hodge School of Pharmacy Scholarships
  • Julia Jones Matthews School of Population and Public Health
  • Employee's Dependent Scholarship

Important Information

CARES Act Information

Funding your Education (2024)

FAQs

How do you propose to fund your education in us? ›

Bank Loans: Talk to your banks about education loans they provide and what the rate of interest is. These loans will generally require collateral like property or assets or a co-signor. If loans from banks are not an option, students, or parents have also secured loans from relatives, or other family members.

How do you plan to financially contribute to your education? ›

5 Ways to Finance Your College Education
  1. Federal Grants and Loans. Most colleges and universities will ask your family for the FAFSA: Free Application for Federal Student Aid. ...
  2. State/Organizational Grants and Scholarships. ...
  3. Work Study/Campus Jobs. ...
  4. School Specific Scholarships. ...
  5. Spend Wisely.

What factors are important to consider when planning to fund your education? ›

Account for Realistic Cost of Attendance

To create a comprehensive financial plan, take your current financial situation into account, and estimate how your educational journey will impact your time and budget. Consider all costs including those related to your job, family commitments, and other responsibilities.

What are the methods for funding higher education? ›

Financial aid comes in a variety of forms-including grants (which are need based); scholarships (which are merit based); waivers (which are either need based or provided in recognition of special circ*mstances); work study (primarily for undergraduates); fellowships, teaching assistantships, and research assistantships ...

How do you write a funding proposal for education? ›

How to create a compelling grant proposal
  1. Write a strong cover letter. ...
  2. Create an executive summary. ...
  3. Introduce your organization. ...
  4. Write a direct problem statement. ...
  5. State your goals and objectives. ...
  6. Choose methods and strategies to achieve your goals. ...
  7. Include success metrics. ...
  8. Include funding sources and ensure sustainability.
May 6, 2024

How do you write an academic funding proposal? ›

Here are the common steps, in order, that are often included when writing a formal grant proposal:
  1. Include a cover letter. ...
  2. Include an executive summary. ...
  3. Describe a statement of need. ...
  4. List objectives and goals. ...
  5. Describe methods and strategies. ...
  6. Detail a plan of evaluation. ...
  7. Include a budget. ...
  8. Detail organizational information.
Jul 6, 2023

How do you contribute to the cost of your education? ›

Here are some tips for fitting higher education costs into your budget.
  1. Choose Your School Wisely. ...
  2. Research Scholarships and Grants. ...
  3. Consider the Cost of Living. ...
  4. Find a Job with the Most Impact. ...
  5. Be Flexible with Your Schedule. ...
  6. Qualify as an Independent Student.

Why should we put more money into education? ›

A recent overview paper by Northwestern University's Kirabo Jackson and Claire Mackevicius combined the results of numerous prior studies. They found that on average, an additional $1,000 per student led to small increases in test scores and a 2 percentage-point boost in high school graduation rates.

How can funding be improved in education? ›

Where to find funds for education
  1. A Bigger Slice. Commit more of the existing state budget to education, cutting elsewhere.
  2. A Bigger Pie. Raise more taxes at the state level to provide more money for education.
  3. A Different Pie. Allow local taxes to provide new money for education.
  4. Actual Pie.

What are potential sources for funding your education? ›

Besides financial aid, you should also think about what you can do to lower your costs when you go to college.
  • Grants. ...
  • Scholarships. ...
  • Work-Study Jobs. ...
  • Loans. ...
  • Apply for Financial Aid. ...
  • Aid for Military Families. ...
  • Aid for International Study. ...
  • Aid and Other Resources From the Federal Government.

What factors contribute to an education? ›

Factors like relevant and rigorous curriculum, strong teacher-student relationships, and a supportive and inclusive school environment can foster student engagement and motivation. Access to early childhood education: Quality early childhood education plays a critical role in a student's long-term success.

What are three things you think are important to consider before borrowing money for school? ›

You'll want to pay attention to: The interest rate. How much are you paying to borrow money? How is the interest rate compounded? (daily?

What is the largest source of educational funding? ›

State Funding Sources

The vast majority of educational funding comes from state-provided funds. State income and sales taxes raise money that is administered to school districts through specific formulas that vary from state to state.

Who provides the most funding for education? ›

State and local role in education funding

According to the US Department of Education, the Federal Government contributes about 8% to funding US public schools. To fund the remaining balance per student in the public education System, state and local governments are mandated to allocate money towards education.

Which is a method to fund your college education? ›

Grants are another good way to get financial aid for college expenses. Typical grants include the Pell Grant, state grants, school grants, and emergency aid grants. They do not need to be repaid and are sometimes based on financial need. This form of financial aid allows students to work while going to school.

Can I get a sponsor for my education in USA? ›

Can I Get Sponsored on a Student Visa? Yes, you can! When you apply for a student visa, you are permitted to receive financial support for your studies from scholarships, fellowships, assistantships, grants, or loans from your university or college, government, or personal sources such as friends or family.

How to fund your studies in the USA? ›

The most funding that students receive is from the university that they attend. This means that you should apply to schools that offer generous financial aid if this is needed. The types of financial options available to you include student loans, grants, scholarships, fellowships, and travel awards.

How is education funded in us? ›

The largest source of funding for elementary and secondary education comes from state government aid, followed by local contributions (primarily property taxes).

How do I ask my company to sponsor my education? ›

How do you get your employer to support or sponsor your continuing education courses?
  1. Identify your goals and needs.
  2. Find out your employer's policies and preferences.
  3. Prepare a proposal and pitch.
  4. Follow up and follow through.
  5. Celebrate and share your success.
  6. Here's what else to consider.
Mar 16, 2023

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