Financial Aid Answers for Parents
At Angelo State University we understand parents’ overwhelming concern in paying for higher education. Although the primary responsibility for financing an education rests with the student and immediate family, we recognize that many students will require additional assistance to finance their educational goals. Therefore, ASU offers need-based and nonneed-based financial assistance to those who would otherwise not be able to attend
the university. This brochure is designed to answer your many questions and to put your
mind at ease.
Where does financial aid come from?
When should a student apply for Financial Aid?
What information is needed to apply for financial aid?
How does a student qualify for need-based financial aid?
Who determines what financial aid a student will receive?
What does it cost to attend Angelo State University?
- ASU Grants, Scholarships and Loans
- Federal Pell Grant Program (FPELL)
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Federal Academic Competitiveness Grant (ACG)
- National Science and Mathematics Access to Retain Talent (SMART) Grant
- Texas Public Education Grant (TPEG)
- Leveraging Educational Assistance Partnership Grant (LEAP)
- Towards Excellence, Access and Success (TEXAS) Grant
- RAM Grant
- Texas B-on-Time Loan Program
- Carr Academic Scholarships
- Transfer Student Scholarships
- The Dr. Robert and Jean Ann LeGrand Scholarship Program
- General ASU Scholarships
- ASU Departmental Scholarships
- Carr ROTC Scholarships
- Federal Perkins Loan
- Federal Stafford Loan
- Federal Parent Loan for Undergraduates Students (PLUS)
- College Access Loan Program (CAL)
What is financial aid?
Financial aid is funding awarded to eligible students to assist with the cost of attending a college or university. The Financial Aid Office at Angelo State University is available to assist those students who may have difficulty paying for a college education.
Financial aid is awarded in the form of grants, scholarships, loans, and work. Grants and scholarships are generally considered gift aid. These awards do not have to be repaid. Loans must be paid back, usually upon the completion of the degree. However, many loans have different repayment requirements, so please check with the Financial Aid Office concerning the various loan programs. College work-study programs allow students to work on and off campus in order to earn a portion of his/her financial aid via a monthly pay check.
Where does financial aid come from?
Financial aid can come from a variety of sources, including federal and state governments, the college/university or outside sources such as companies or civic groups
When should a student apply for financial aid?
The application period for federal and state aid begins January 1 of each year for the following award year (September 1 through August 31). As soon as possible after January 1, the Free Application for Federal Student Aid (FAFSA) should be submitted electronically (www.fafsa.ed.gov). Since the FAFSA is filed electronically, please be sure to record all personal identification numbers (PIN) for future use (http://www.pin.ed.gov).
All other required forms should be completed and submitted directly to the ASU Financial Aid Office. For a complete listing of the required forms and established priority deadlines for the current award year, please refer to the Financial Aid Application Instructions available through the ASU Financial Aid Office or online (www.angelo.edu). The application period for institutional and outside agency scholarships will vary, depending on the program.
What information is needed to apply for financial aid?
Necessary documents needed to complete the FAFSA include the student’s tax return from the previous year, as well as the parents’ tax return if the student is a dependent for financial aid purposes, or the student’s spouse’s return, if applicable. Financial records, including asset information, will also be required. In addition, documents related to academic history and reference forms may be required for specific scholarship programs.
How does a student qualify for need-based financial aid?
Financial need is the difference between the cost of attending the university and the resources available to the student to help meet that cost. Thus, financial need is determined to be the:
Cost of Attendance
Minus
Expected Family Contribution (EFC)
Minus
Other Available Resources
Equals
Financial Need
The EFC is determined by filing the FAFSA and by combining the student’s contribution and the parents’ contribution (for dependent students). All applicants are required to inform the Financial Aid Office of any additional assistance to be received from outside sources during the application period.
Who determines what financial aid a student will receive?
Upon the student’s completion of the application, the Financial Aid Office will determine programs for which the applicant is eligible and then offer a financial aid package that may include grants, scholarships, loans and work-study.
What does it cost to attend Angelo State University?
The cost of attending ASU varies with enrollment status, housing situations and personal lifestyles. ASU remains one of the most affordable universities in the State of Texas. The chart below shows the estimated cost of attending ASU for a student taking 15 semester credit hours in both the fall and spring.
Fall and Spring Semesters
| Tuition and Fees | $5,410 |
| Room and Board | $7,222 |
| Books and Supplies | $1,200 |
| Transportation | $1,910 |
| Personal Expenses | $1,910 |
| TOTAL: | $17,652 |
ASU Cost Calculator
To get an estimate of possible finanicial aid that you qualify for, use the ASU Cost Calculator.
Federal Pell Grant Program (FPELL)
The Federal Pell Grant (FPELL) is a federally-funded program designed to assist students pursuing the first baccalaureate degree. FPELL provides eligible students with a foundation of financial aid to help defray the cost of post-secondary education. The award amount is based on the Expected Family Contribution (EFC), the cost of attendance at ASU, and the number of hours for which the student is enrolled.
Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) is a federally-funded, need-based program designed to assist students who demonstrate exceptional financial need and who, without the grant, would be unable to continue their education. Applicants must be FPELL eligible, working on the first baccalaureate degree, be enrolled at least half-time, and meet the established priority deadline.
Federal Academic Competitiveness Grant (ACG)
The Federal Academic Competitiveness Grant (ACG) is a federally funded need-based program available to assist first and second year undergraduate students who have recently graduated from high school and completed a rigorous secondary school program of study. Eligible applicants must be FPELL eligible and meet specific academic requirements.
National Science and Mathematics Access to Retain Talent (SMART) Grant
The National Science and Mathematics Access to Retain Talent (SMART) Grant is a federally funded need-based program available to assist third and fourth year undergraduate students who are majoring in physical, life, or computer science, engineering, mathematics, technology, or a critical foreign language. Elligible applicants must be FPELL eligible and meet specific academic requirements.
Texas Public Education Grant (TPEG)
The Texas Public Education Grant (TPEG) is a state program funded through tuition payments and is available to undergraduate and graduate students who demonstrate financial need and enroll at least half-time. Awards under this program are usually limited to eligible applicants who meet the established priority deadline.
Leveraging Educational Assistance Partnership Grant (LEAP)
The Leveraging Educational Assistance Partnership (LEAP) Grant is generated from federal and state funds. It is available to undergraduate students who demonstrate financial need and enroll at least half-time. Awards under this program are usually limited to eligible applicants who meet the established priority deadline.
Towards Excellence, Access and Success (TEXAS) Grant
The Towards Excellence, Access and Success (TEXAS) Grant is a state-funded need-based program available to assist undergraduate students who have recently graduated from high school and completed the advanced or recommended high school curriculum. Eligible applicants must be residents of Texas and meet specific academic requirements.
RAM Grant
The RAM Grant is an institutional program funded through tuition payments and is available to undergraduate and graduate students who demonstrate financial need and enroll at least half-time. Awards under this program are usually limited to eligible applicants who meet the established priority deadline.
Texas B-on-Time Loan Program
The purpose of this state-funded program is to provide non-interest-bearing loans to eligible undergraduate students to enable them to attend colleges and universities in Texas. Additionally, the Texas B-on-Time Loan Program provides loan forgiveness incentive to those students who qualify.
Carr Academic Scholarships
Carr Academic Scholarships are awarded on a competitive basis, with priority given to individuals of high academic ability. Additional funding may be available, depending on financial need and the review of the scholarship application.
Transfer Student Scholarships
Transfer Student Scholarships are awarded on a competitive basis, with priority given to individuals of high academic ability. Additional funding may be available depending upon financial need and the review of the scholarship application.
The Dr. Robert and Jean Ann LeGrand Scholarship Program
A $1,000,000 endowment fund established by Dr. Robert LeGrand and his wife, Jean Ann, provides scholarships for entering freshmen from area communities within a 150-mile radius of San Angelo. The generous scholarship endowment was established as an expression of appreciation to Dr. LeGrand’s many patients from these area communities.
The scholarships, to be awarded to deserving students who have a strong desire to succeed, are granted based on the following criteria:
- Must be full-time freshmen students who meet regular admission requirements
- Must be graduates from area high schools
- Must have graduated in the top 50 percent of their graduating classes
- Must be recommended by their high school principals
General ASU Scholarships
General University Scholarships of varying amounts are available through the ASU Financial Aid Office. Students applying for scholarships are required to be full-time (at least 12 semester credit hours per semester). Requirements vary according to the specific scholarship guidelines. For more application and priority deadline information, please contact the Financial Aid Office.
ASU Departmental Scholarships
Numerous departments on campus offer individual scholarships to new and returning students. The ASU departments listed on the following page should be contacted regarding requirements.
- Accounting, Economics, and Finance Department
- Aerospace Studies Department (ROTC)
- Agriculture Department
- Art and Music Department
- Athletic Departments (Men and Women)
- Biology Department
- Chemistry and Biochemistry Department
- Communication, Drama and Journalism Department
- Computer Science Department
- English Department
- Government Department
- History Department
- Kinesiology Department
- Management and Marketing Department
- Mathematics Department
- Modern Languages Department
- Nursing Department
- Physical Therapy Department
- Physics Department
- Teacher Education Department
Carr ROTC Scholarships
Through a $1,000,000 endowment fund established at Angelo State University by the late Mr. and Mrs. Robert G. Carr, approximately 100 Air Force ROTC Scholarships up to $1,500 are awarded annually to highly qualified students who enroll in the university’s Air Force ROTC program while pursuing baccalaureate degrees in their chosen fields. These awards are made on the basis of scholarship, leadership abilities, and, for those currently enrolled, contributions to ASU’s Air Force Reserve Officer Corps. The Carr Air Force ROTC Scholarship recipients are selected by a scholarship board composed of AFROTC faculty. The selection board will convene in March of each year. Recipients will be notified within one week after the board convenes. Scholarship awards are re-evaluated each semester based on GPA and corps performance. Students applying for the Carr Air Force ROTC Scholarship will be evaluated on ACT/SAT scores, high school or university grade point average, class standing in high school.
Federal Perkins Loan
The Federal Perkins Loan is a need-based loan program available to students who enroll at least half-time. Awards are limited to award year (Y) and aggregate (A) maximums.
| Undergraduate: | Y =$4,000, A = $20,000 |
| Graduate: | Y =$6,000, A = $40,000 |
| including any undergraduate amount |
The current interest rate is 5 percent and does not accrue while the student is enrolled at least half-time. Repayment begins nine months after the student ceases half-time enrollment. In addition to deferment benefits, loan cancellation for employment in designated teaching and public service areas is offered.
Federal Stafford Loan
The Federal Stafford Loan is a loan program offered through participating lending institutions for the purpose of making available low-interest loans to students who enroll at least half-time. Repayment of the principal begins six months after the student ceases half-time enrollment. The interest rate is variable, capped at 8.25 percent.
Stafford Loans are either subsidized or unsubsidized. A subsidized loan is awarded on the basis of financial need. The federal government pays the interest on the loan until the student begins repayment and during authorized periods of deferment. An unsubsidized loan is not awarded on the basis of need. The borrower will be charged interest from the time the loan is disbursed until it is paid in full.
Awards are limited to award year and aggregate maximums based on the borrower’s grade level and dependency status for financial aid purposes.
Dependent Undergraduate Loan Limits:
| Freshman | $3,500 per yr (sub & unsub) |
| Sophomore | $4,500 per yr (sub & unsub) |
| Junior | $5,500 per yr (sub & unsub) |
| Senior | $5,500 per yr (sub & unsub) |
| Aggregate | $23,000 (sub & unsub) |
Independent Undergraduate Loan Limits:
| Freshman | $3,500 per yr (sub & unsub) $4,000 per yr (additional unsub) |
| Sophomore | $4,500 per yr (sub & unsub) $4,000 per yr (additional unsub) |
| Junior | $5,500 per yr (sub & unsub) $5,000 per yr (additional unsub) |
| Senior | $5,500 per yr (sub & unsub) $5,000 per yr (additional unsub) |
| Aggregate | $46,000 (no more than $23,000 can be subsidized) |
Federal Parent Loan for Undergraduates Students (PLUS)
The Federal Parent Loan for Undergraduate Students (PLUS) is a loan program offered through participating lending institutions and is available to the parents of dependent students who enroll at least half-time. Eligibility is not determined on the basis of need. Repayment begins 60 days after full disbursement of the loan amount. The interest rate is variable, capped at 9 percent. Awards are limited to the student’s cost of attendance less financial aid (including any Subsidized Stafford Loan eligibility).
College Access Loan Program (CAL)
College Access Loans are offered through the Texas Higher Education Coordinating Board and are designed to assist students whose families are experiencing difficulty meeting the expected family contribution toward the educational costs. The student borrower must be a Texas resident and enroll for at least a half-time course load. A co-signer may be required to guarantee the repayment of the loan.
The yearly maximum a student may borrow is determined by the cost of attendance less other financial aid. The aggregate maximum is $45,000. The interest rate is 6.92 percent and begins accruing immediately after disbursement. Deferment of principal is provided as long as the student is enrolled on at least a half-time basis. Repayment of principal begins six months after the student ceases half-time enrollment.
