AMARILLO, TX (KFDA) - A new initiative is aimed to help students in the Texas A&M System stay in school and graduate on time without having to worry about debt.
Pending approval from the Board of Regents, new grants will be provided to students who do not qualify for Pell Grants but whose parents cannot provide a cushion for unexpected expenses.
"We do not want our hard-working students to be forced to take out extra loans or lose valuable time toward their degree because of unanticipated issues with things like medical expenses, job loss, or natural disasters," said Texas A&M University System Chancellor John Sharp. "One of the core functions of our universities is to get students to graduation with a degree that allows them to be highly productive members of society, and our new Regents' Grant initiative will eliminate some of the pitfalls that have threatened the progress of too many of our bright students."
The initiative has been created in hopes that they will prevent students facing financial challenges from adding to their dept by taking out additional loans.
To be eligible, students must meet certain criteria, including a student/family adjusted gross income between $60,000 and $100,000 per year. The initiative will be funded with the $3 million per year from the Available University Fund for the next 10 years.