What is Financial Aid?
Financial Aid is money loaned or granted to students to help them pay for college. Financial aid for students is funded by federal, state, institutional or outside agencies. UHV distributes financial aid based on funds available and the student's eligibility for the awards.
Determining Financial Need and Award Package
First, the student must complete the Free Application for Federal Student Aid (FAFSA) and submit it to the U.S. Department of Education's processor. The FAFSA is located at http://www.fafsa.gov. The processor will determine the Expected Family Contribution (EFC). The school will determine the financial need which is the difference between the cost of attending the university and the resources available to the student. Thus, financial need is determined to be the cost of attendance minus expected parental contribution; if applicable, expected student contribution and other available resources.
Your financial aid awards are based on information you reported on the FAFSA, as well as your career (graduate or undergraduate) and enrollment status (full-time, half-time, etc.). Any change to your enrollment status may change your financial aid awards. You must report any changes to the Office of Financial Aid immediately. Failure to do so could result in a reduction or cancellation of your award and you may have to repay any amounts overawarded to you.
If we receive additional scholarships or grants after a student's award letter has been processed, or after funds have been disbursed, we may need to recalculate a student's eligibility for aid. Students must notify the Office of Financial Aid of all outside awards. Any amount beyond the legal package limits is called an "overaward". Federal and state laws require that such an overaward be corrected, usually by the return of the overaward amount to one or more of the aid programs. When such an overaward amount to one or more of the aid programs is detected, we will make adjustments to a student's aid. Details regarding the University of Houston-Victoria packaging philosophy are available in the Office of Financial Aid. The philosophy of student aid is to provide access and choice to students, who without such assistance, would not be able to attend an institution of higher learning.
Types of Financial Aid
Students who are eligible can receive the following types of financial aid:
- Grants - Free Money - Grants are based on financial need.
- Scholarships - Free Money - Scholarships are awarded for a variety of reasons - excellent grades, financial need, community involvement, organization membership, etc.
- Student Employment - Earned Money - Work study award for part-time employment on-campus and some off-campus sites.
- Loans - Borrowed Money - Loans must be repaid, usually with interest.
Need-based aid is administered based on a family's need for financial assistance. Students will need to complete the Free Application for Federal Student Aid (FAFSA) in order to determine a student's financial need. Financial need is the difference between a student's cost of attendance budget and the family's Expected Family Contribution.
Non-need based aid is administered based on a student's academic merit, talent, major field of study, etc.
Aid to Students with Disabilities
Aid to students who have certain physical or emotional handicaps is offered by the Texas Rehabilitation Commission (TRC). To be eligible for TRC services, the student must have a physical or mental disability which constitutes or results in a substantial handicap to employment.
In addition, there must be a reasonable expectation that the vocational rehabilitation services will benefit the individual terms of employment. TRC clients are entitled to diagnostic evaluation, counseling and guidance, career planning, job development, placement and follow-up. Go to your local Texas Rehabilitation Commission to see what services they can provide for you.