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Coordinating board previews April rule changes affecting FAST funding, Texas Grant and college access loan
Summary
At a Financial Aid Advisory Committee meeting, the Higher Education Coordinating Board’s agency representative outlined proposed April rule changes: FAST will shift to a three‑phase formula funding model with scheduled payments and a year‑end true‑up; Texas Grant allocations will be reworked to guarantee initial‑year awards for top‑25 and TEOG‑pathway students; the college access loan manageable‑debt calculation will be extended to master’s students.
The Higher Education Coordinating Board’s Financial Aid Advisory Committee heard a detailed preview of proposed rule changes that will come before the board at its April meeting, including a major redesign of FAST funding, allocation changes for the Texas Grant program and an expansion to the college access loan rules.
Chris Woolen, the coordinating board’s agency representative, told the committee the changes are proposed and have gone through public comment but are not final. He said the board has reorganized student aid rules into chapters (chapter 13 for tuition, chapter 22 for grants and scholarships, chapter 24 for loans and chapter 23 for loan repayment assistance) to make policies easier to find and administer.
The FAST program, which reimburses institutions for no‑cost dual‑credit instruction and has funded “something like 3 million semester credit hours” since 2023, would move to a three‑phase formula funding model, Woolen…
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