Growth leads to financial aid increase
The price of college continues to rise and students become quickly overwhelmed. With so many responsibilities on their mind, they tend to overlook the numerous financial resources within their reach.
Reflecting on a tightened budget in 2017 in her Jan. 11 convocation remarks, President Matson said student scholarships have increased 69 percent, to align with the anticipated Federal Pell and Texas Grants allocation for fiscal year 2018.
Lloyd Butler, executive director of the Budget & Payroll office explained those figures from a budgetary perspective.
During the 12-month period between fiscal year 2017 and fiscal year 2018, A&M-San Antonio expected an increase in Federal Pell allocations from the U.S. Department of Education, and Texas Grants from the Texas Higher Education Coordinating Board (THECB), Butler said in an email.
Those anticipated increases are part of the budget planning for the following year. Butler said revenue received from the Dept. of Education and the state coordinating board are categorized as student financial assistance in the annual operating budget and recording in the annual operating budget as a scholarship expense.
During the 2017 fiscal year, A&M-San Antonio experienced a 69 percent increase in dispersing funds to students with financial need, therefore the 2018 fiscal budget reflects this substantial increase.
The Federal Pell allocation and Texas Grants are need based aid that eligible students who meet the qualifications of having a financial need can receive. The anticipated revenue of Federal Pell and Texas Grants increased 69 percent over fiscal year 2017. Which, for students, means the budgeted scholarship expense for fiscal year 2018 increases by approximately the same amount, 69 percent.
In order for students to see if they qualify to receive these funds, students are encouraged to always renew their free application for Federal Student Aid (FAFSA).
Many departments and offices coordinate how and when students will receive financial aid. And aid comes in many categories.
Business Affairs and University Advancement are diligently working to increase financial aid for students.
Another resource for students with financial need can be found through University Advancement. There are 18 internal scholarships available for all students to apply. These scholarship awards range from $500-$7,400.
University scholarships are broken down into two categories: Institutional and External.
Institutional scholarships are those funded and supported by donations from local organizations, such as The American Petroleum Institute-San Antonio Chapter, Inc, AT&T, City of San Antonio Pathways to Leadership, Holt Cat, La Prensa, Valero and others are contributing to higher education. For a full list of active donors click on the following link. Scholarships
Under the internal scholarships, students can apply for three scholarships provided by The Texas A&M University-San Antonio Foundation. This foundation was launched in 2008 and through its 9-year course has raised more than $12.9 million and has awarded more than 5,500 students with financial assistance.
External scholarships are not endorsed by the university but are posted as to continue providing students with additional scholarship resources.The university maintains an updated database online.
Students who have received scholarships point toward the enormous difference scholarships make in their lives toward degree attainment.
“I’m a first-generation college student…(the scholarship) had a huge impact. There were moments when I thought I had to drop out because I couldn’t afford it, but the Jaguar scholarship happened to come at the perfect time,” said English senior Elysia Ritchey.
The Texas A&M University-San Antonio general scholarship application opens every year on October 1 and closes on June 30. Only one general application is required in order to be considered. This online scholarship application can be accessed on www.tamusa.edu under the Texas A&M University-San Antonio Scholarships page.