Texas Tech University Financial Aid Terms and Conditions

 

Federal regulations require that all financial aid recipients maintain satisfactory academic progress. Progress is measured at the end of each spring term and eligibility is re-evaluated after summer grades have posted, with the exception of students already on contract. Additional details concerning this policy can be found on the Texas Tech Office of Student Financial Aid website: www.financialaid.ttu.edu.

Loan Cancellation - I understand that the terms of a full or partial loan cancellation depend on when I request the cancellation. At any time before my loan money is disbursed, I may decline all or part of my loan money by notifying my school or lender. No origination fee, guarantee fee or interest will be charged on the amount of the loan that is cancelled.

If my school credits my loan to my student account, I may cancel all or a part of my loan by informing my school within 14 days after the date my lender sends me a disbursement notice, or by the first day of the school’s payment period, whichever is later (My school can tell me the first day of the payment period). If I cancel all or a portion of my loan as described in this paragraph, my school will return to my lender the cancelled amount of the loan money and the loan fees will be reduced or eliminated in proportion to the amount returned.

I understand that if I withdraw from Texas Tech University after the semester begins, I may be subject to repayment of financial aid funds to the university.

I understand that federal and state student aid received can only be used for educational purposes.

Verification - If a student's application is selected for verification by the federal processor, he or she must complete the verification process or forfeit federal student aid eligibility.

Grant awards are based on full-time enrollment per semester. Awarded amounts for each semester will be prorated, or subject to cancellation, if the student is not attending full-time during a semester. All awards and estimated awards are based on program guidelines and are subject to change based on the actual funding levels received by TTU and/or any additional awards you may receive from university or non-university sources, and the estimated family contribution as determined by the FAFSA (Free Application for Federal Student Aid).

Academic Competitiveness Grant (ACG) is a federal need-based program for undergraduate students with full-time enrollment. Students must be eligible to receive a PELL Grant and have completed a rigorous high school academic program as determined by the Department of Education. Eligibility for the program and award amounts will be determined by the Office of Student Financial Aid.

National Science and Mathematics Access to Retain Talent Grant (SMART) is a federal need-based program. Students must be eligible to receive a PELL Grant, have a 3.0 cumulative GPA, or better, and in an approved academic program which is determined by the Department of Education. Eligibility for the program and award amounts will be determined by the Office of Student Financial Aid.

Federal Work-Study (FWS) - If you are awarded FWS but do not plan to work, please contact the Red Raider Student Employment Center (RRSEC) by e-mail at student.employment@ttu.edu so they can cancel your award.

Leveraging Education Assistance Partnership (LEAP) and Special Leveraging Educational Assistance Partnership (SLEAP) - If you are awarded LEAP or SLEAP, these monies are provided from a federally-funded program. These programs assist States in providing student aid programs for eligible students pursuing postsecondary education with substantial financial need.

Should revisions be made to your award package, notifications will be sent to your official Texas Tech e-mail account.

DISCLAIMER: The afore mentioned information is subject to change at any time and without notice. While every effort is made to ensure that the information is accurate changes in legislation as well as policy may impact the accuracy.