B-On-Time loan program adds source of financial aid
(Nov. 17, 2003)--Don W. Brown, Texas commissioner of higher education, says B-On-Time no-interest student loans will be issued beginning January 2004. Approximately $20 million will be available for the financial-aid program in fiscal year 2004.
The Texas B-On-Time loan program was created by the 78th Texas Legislature to provide aid to students who qualified for a TEXAS grant, but did not receive it due to limited funding.
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RSS FeedsThe eligibility requirements of the B-On-Time loan program are similar to those of the TEXAS grant program. B-On-Time loans are forgiven if a student graduates from college promptly with a 3.0 grade point average.
B-On-Time loans will be handled almost entirely electronically. The Higher Education Coordinating Board staff worked with representatives of university financial aid offices statewide to develop processes that are convenient and efficient for students and financial aid administrators.
For more information, e-mail Lois Hollis, assistant commissioner for student services, or Lesa Moller, director of loan program operations.