State budget writers beefing up funding for student financial aid
The proposed budgets working their way through the House and Senate spending committees would add substantially to funding initially penciled in for the state’s main student financial aid program.
But prospects for a top priority of Gov. Rick Perry’s — making 10 percent of base funding for universities contingent on graduation rates and other so-called student outcomes — are uncertain.
The House measure as currently crafted would add $150 million to the $559.5 million in the base budget bill for the Texas Grant program in 2014-15. The Senate version is a tad less generous, adding $114.7 million.
The House plan would cover about 87 percent of eligible new students; the Senate’s, about 80 percent. But there’s a catch: The calculations assume that students get $5,000 for the academic year, which is the current base grant. That’s well below the $7,700 envisioned by the program based on average tuition and fees for the upcoming academic year.
More at http://www.statesman.com/news/news/state-regional-govt-politics/state-budget-writers-beefing-up-funding-for-studen/nWkdK/ .
