Financial Aid Displacement
During the 89th Texas Legislature (Regular Session), Texas Education Code (TEC), Title 3, Section 56.0094, was enacted through Senate Bill 2995. It requires all public institutions of higher education to include specific information about gift aid in their admissions application forms or materials.
Institutional Requirements TEC Section 56.0094(c)
Each institution of higher education is required to include in the institution’s admission application form or provide in that form a link to the financial aid displacement advisory and, in plain language, the following information:
- ·How to apply for gift aid at the institution.
- The timeline for financial aid processes at the institution, including application deadlines, suggested deadlines to report gift aid, and other deadlines of which the institution determines a prospective student should be made aware.
- A list of recommendations to aid a prospective student in maximizing gift aid awards, as determined by the institution.
- A list of recommendations for a prospective student to ensure the student’s gift aid will not be reduced.
- ·Contact information for an employee or office at the institution from whom a prospective student may seek advice regarding gift aid.
The Financial Aid Displacement Advisory, which the Texas Higher Education Coordinating Board (Coordinating Board) is required by statute to create, provides a working definition of financial aid displacement and a list of common reasons why a student’s gift aid might be revised or reduced.
Financial Aid Displacement Advisory Requirements TEC Section 56.0094(b)
Institutions may either:
- Create their own version of the advisory, which MUST include the exact phrasing included in the advisory, bordered by a line one point in weight in a font of not less than 14 points in size; or
- Link to the Coordinating Board’s Financial Aid Displacement Advisory below.