The University of Texas at El Paso financial aid department works on assisting students to pay for their education with zero financial burden.
Financial aid is money that helps you pay for college. Financial aid can be a combination of scholarships, grants, loans, and work-study.
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Scholarships and grants are “free money” that you do not need to repay.
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Loans need to be paid back when you enroll less than half-time or you graduate.
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A part-time job can also help you pay for school and living expenses.
By submitting a financial aid application and a scholarship application, you are reviewed for all the types of financial aid that you are eligible for. Remember: each student is eligible for different kinds of financial aid.
The types of financial aid you are offered is based on the data provided on your financial aid and/or scholarship application. Financial aid is either need-based or non-need based. Financial need, and need-based aid eligibility, is determined by subtracting the EFC from the COA. Students are not allowed to receive aid that exceeds their Cost of Attendance.
Grants
This type of financial aid does not have to be repaid. It can be funded through federal/state governments and institutional monies. All grants offered at UTEP require a complete and valid Free Application for Federal Student Aid (FAFSA). Below is a list of grants that are available.
Please be advised that effective for the 2020 - 2021 financial aid award year, the FAFSA filing priority date for the state of Texas is January 15, 2020. Certain grants are as follows-
Federal Pell Grant (Pell), Children of Fallen Heroes Scholarship, Federal Supplemental Education Opportunity Grant (FSEOG), Federal Teacher Education Assistance for College and Higher Education (TEACH), Towards Excellence, Access and Success Grant (Texas Grant), Texas Public Education Grant (TPEG), Paydirt Promise.
Loans
Loans are money that you or your parents borrow and repay with interest. Education loans are offered at low-interest rates and have long repayment terms. Some loans require a demonstration of need, others do not.
The interest rate varies each year and it is determined by the federal government every July 1st. The Office of Student Financial Aid expresses a philosophy of careful student loan borrowing by informing students that he/she has options in regards to paying their college expenses.
If a student accepts a partial amount of their Federal Direct Subsidized Loan or Federal Direct Unsubsidized Loan, the student can request one adjustment per semester within the first 90 days of the semester. Some loans available are-
Federal Direct Subsidized Loan, Federal Direct Unsubsidized Loan, Federal Direct Subsidized and Unsubsidized Loan Limits, Federal Direct PLUS Loans (PLUS), College Access Loan (CAL), Alternative/ Private Loan, Loan Repayment, Loan Proration for Subsidized and Unsubsidized Loans.