In the life of a college student . . .

. . . money matters.

Paying for College

Financial Aid Resources at UTEP: • EasyPay Plan - Installment plan payable over the semester • Scholarships -Opportunities for merit-based financial aid • Free Tuition - The UTEP Promise Plan covers all tuition and fees for low-income Texans • Guaranteed Tuition Plan - Guaranteeing your tuition and fees stay low • Federal and State Financial Aid -Grants, work-study support, and loans • Installment Plan and Emergency Loans - Other ways to pay for tuition • Tuition Rebate - Qualifying for a $1,000 tuition rebate

PASE Program Programa de Asistencia Estudiantil (PASE) is a Financial Assistance Program for Mexican Students who cannot afford to pay out of state tuition. This program allows them to pay the same tuition rate as Texas residents. The program lasts an academic cycle, beginning in fall and covering the spring and summer semesters of the next year. Once the student is approved for the PASE Program, s/he must recertify or re-apply every year to continue under the program. For more information visit: http://sa.utep.edu/oip/programs/pase-program/

Scholarships • Consider applying for scholarships to help pay for college. UTEP offers a variety of scholarship opportunities. To compete for a scholarship you need to apply before the deadline. • There are several scholarship programs available through private companies and organizations. Consider your parent’s employer, community groups, and civic organizations. • The UTEP Office of Scholarships provides information about privately and publicly funded scholarships. Beware of scams requiring you to pay money for scholarship services. Scholarship information is available for free.

Grants Grants are free money based on need, and loans have to be repaid. The Federal Pell Grant is funded by the federal government. The purpose of the Pell Grant is to provide eligible students with a "foundation" of financial aid to help defray the cost of post secondary education. Pell is based on financial need. To determine if you are eligible, the Department of Education uses a standard formula to evaluate the information reported on the student aid application. The formula considers income, assets, household size, and the number of family members in college. To apply for a Federal Pell Grant, you must fill out a FAFSA online at www.fafsa.ed.gov

Direct Loans Awarded Unsubsidized federal loan borrowers are not required to demonstrate “need” in order to be eligible. If the student is eligible to receive a subsidized loan, he or she must apply for the loan first before borrowing an unsubsidized loan. • The government does not pay the interest that accrues for unsubsidized loans, even while borrowers are enrolled at least half time in an eligible program of study. Instead, the borrower is responsible for the interest. The borrower can pay the interest as either it accrues, or during in-school grace or deferment periods, the borrower can have the interest capitalized. studentloans.gov

• EasyPay Plan PAY NOTHING UPFRONT This option defers your total tuition and fees, *parking decal, and *health insurance. The Emergency Loan will pay your tuition and fees.

• Installment Plan and Emergency Loans PAY 20% UPFRONT This option divides your total tuition and fees, *parking decal, and *health insurance into equal monthly payments.

Private or Alternative Loans: • They require a credit check for approval; • They may require a co-signer; It is highly recommended that all federal • They have higher loan fees and the loans are used first before considering a private/alternative loan. interest rates (typically variable); • Repayment terms are not generally as flexible for private loans; • They have limited deferment and discharge (forgive ) options.

Working while attending College • UTEP employs students in many areas on campus as regular student employees or federal work-study. To be eligible, you must be currently enrolled in (and regularly attending) at least one class for the current quarter. For each employment position, there is an hourly wage rate starting a minimum wage. Students cannot work more than 19 hours/week or more than 8 hours/day.

For current positions go to www.utep.edu/careers.

If you are concerned about paying for college, talk to someone. There are people at UTEP who care and want to help you reach your goals. Talk with a financial aid officer, an advisor, a counselor, and people who can help you find a job.

Contact us! http://moneymatters.utep.edu Money Matters Office Union East, Room 303 [email protected] (915) 747-7468 Carolina Teran Armando Meza Ana Meza Kristine Velasquez Sukhdeep Labana Raul Mendoza