(800) 252-9743, ext. 4990
July 2, 2012
Round Rock, TX — TG's Board of Directors has approved an additional $10 million to the TEXAS Grant Program to help close the financial needs gap that may exist for students for the 2012-13 academic year. TG approved an initial $10 million contribution in June 2011. The TEXAS Grant program is the state's largest financial aid program available to students attending public universities and community colleges.
"TG is very pleased to make this donation to the TEXAS Grant Program," said Ivan Andarza, chair of TG's Board of Directors. "As part of our continuing commitment to ensuring access to higher education in Texas, we believe this contribution helps give students, particularly from lower-income families, the opportunity to succeed in their pursuit of a higher education."
"At a time when state and federal grants are shrinking, we need to every dollar we can get," said Tom Melecki, Director of Student Financial Services at the University of Texas at Austin. "This is a huge boost in terms of making college access and success possible for deserving, low-income students in Texas."
"Every dollar we get in grant money is one less dollar a student must borrow," said Joe Pettibon, Associate Vice President of Academic Services at Texas A&M University. "This is outstanding in that it helps offset student loan debt that a student would have to use in order to pay for school."
The THECB projects that the $10 million additional donation will help extend awards to 3,000 students with an average award of $3,000. The typical student receiving a TEXAS Grant has a family income below $45,000.
"We are pleased that the TG Board of Directors has once again made a generous donation to the TEXAS Grant program," said Commissioner of Higher Education Raymund Paredes. "This substantial gift is a very meaningful investment in helping some of our poorest students achieve their dreams of earning a postsecondary degree."
TG promotes educational access and success so that students can realize their college and career dreams. As a public, nonprofit corporation, TG offers resources to help students and families plan and prepare for college, learn the basics of money management, and repay their federal student loans.