All the Ways to Pay and Save

Timeline	Funding Option	Next Steps
4-18 years prior to high school graduation OR Any time, to help pay for adult education	Open an account with a Texas 529 plan Starting early is best. You can make smaller payments each month and cover a lot more college costs when the time comes. And by taking advantage of Texas’ prepaid plan - the Texas Tuition Promise Fund - as soon as possible, you can save thousands of dollars. The prepaid plan only covers tuition and required fees. The 529 savings plans can cover the rest. If high school days have begun, you can still save just $25 a week or $100 a month starting freshman year and have $5,000 by graduation. With a tax-free 529 plan, you can withdraw from your account for qualified college expenses and pay NO taxes on your savings, giving you additional dollars for college expenses.	Determine the type of school and degree plan for which you plan to save. Use our planning calculators to find out how much you can save versus what you might need to borrow or cover through other funding sources. Learn more about the Texas 529 plans. Talk to a financial planner and other trusted sources to get additional savings suggestions. Set up your accounts.
Freshman year in high school	Take advantage of dual or concurrent credit programs High school juniors or seniors can get a head start enrolling in a college course and receiving simultaneous academic credit for the course from both the college and their high school. These courses may be taught on the high school campus or at a public two-year or four- year college campus. Dual credit courses include both academic and technical courses. Texas state law requires all school districts to implement a program by fall 2008 that will allow students to earn the equivalent of 12 hours of college credit while in high school (TEC Sec. 28.009). These requirements may be met by offering dual credit for college courses, advanced technical courses, Advanced Placement courses, and/or International Baccalaureate courses.	To learn more about available dual and concurrent courses and tuition waivers for your local program, check with your high school counselor and local colleges. Also, check out courses guaranteed to transfer to any Texas public college or university.
Freshman year in high school	Earn college credit through Advanced Placement and credit by examination Learn the courses you should take in your sophomore through senior years to help you place out of college courses. If you know which school you’d like to attend, learn their policies and procedures for administering the exams and/or awarding credit. You may be surprised at how many college credits you can earn based on required high school classes. If you apply yourself in high school, you may easily place out of a semester of classes, allowing you to enroll in fewer course hours per semester and focus more closely on the classes you do have to take.	Talk to your high school counselor about your course load and your school’s AP® course offering. Ask friends who are going to the college you want to attend if they have any tips for placing out of courses. Additional Resources: More details for testing out of college courses College Entrance Test Dates and Fees
Sophomore year in high school	Seek out scholarships Start your search early. Many scholarships are available nationally, statewide and even in your hometown. This is free money! Even local malls and stores may offer scholarships in the form of money or merchandise. Students should always be diligent in their studies to improve their chances of winning academic scholarships, but remember that there are many types of scholarships, and some look for community involvement and other activities in their award criteria.	Begin by checking out our scholarship index, and talk to your high school counselor to find out about local opportunities. You may be able to start applying for scholarships as early as your junior year. Alphabetical Index to Scholarships and Aid Subject Index to Scholarships and Aid
Senior year of high school (about 10 months before your college enrollment date)	Apply for financial aid The U.S. Department of Education’s federal student aid programs are the largest source of student aid in the U.S. These programs provide more than $80 billion a year in grants, loans and work-study assistance. Federal student aid is the largest source — but not the only one! Use our resources to learn about other aid programs from the federal and state governments as well as colleges and universities. You must apply to be eligible. Eligibility for federal student aid programs usually is based on financial need (except for unsubsidized Stafford and PLUS loans). There are three types of federal student aid: GRANTS are financial aid that students don’t have to repay. LOANS are just that — borrowed money that students must repay with interest. WORK-STUDY arrangements let students work and earn money to help pay for school. Undergraduates may receive all three types of financial aid, but remember that not all schools participate in federal student aid programs.	Learn more about the financial aid process and what aid may be available to you. Complete the Free Application for Federal Student Aid (FAFSA) form online at www.fafsa.ed.gov or by contacting your school counselor. Contact the Financial Aid Office of the college, university or vocational/technical institute you wish to attend, about 10 months before entrance. Your school’s financial aid officer controls about 90 percent of all available student financial aid. Always make sure you have the most current information, since program changes may occur each year.
After January 1 of your senior year in high school OR During college	Apply for aid from the TEXAS Grant Program The Texas Legislature established the Towards EXcellence, Access & Success (TEXAS) Grant Program to make sure that well-prepared high school graduates with financial need can go to college. A TEXAS Grant may be used to attend any public institution of higher education in Texas. Students who obtain an associate’s degree from a community college after May 2001 and then transfer to a Texas public university within one year may be eligible for the TEXAS Grant. Note: Students currently attending community colleges who are not eligible for the TEXAS Grant program may be eligible for the new Texas Educational Opportunity Grant . Visit the Texas Educational Opportunity Grant page for more information or talk to your college or university financial aid office.	Funding is limited, so you should submit your application as soon as possible after January 1 of your senior year. The financial aid office at each college and university will determine if you can be offered a TEXAS Grant as part of your aid package. More information on CollegeforTexans.com: TEXAS Grant Program Details Texas Educational Opportunity Grant Program (TEOG)
During enrollment at a public Texas university	Apply for a $1,000 Texas Tuition Rebate To provide a financial incentive for students to complete a bachelor’s degree as quickly as possible, the Texas Legislature has established the Texas Tuition Rebate, which provides a $1,000 rebate on tuition to students who sign up for no more than three semester credit hours in excess of the minimum number of hours required for their degree. This results in financial savings for students and their parents as well as the state of Texas.	1. Learn more about the Texas Tuition Rebate. 2. Apply for the tuition rebate before receiving your degree, using forms provided by your college or university. Most universities provide application forms to students as part of the final degree check. Need to find out which office on your campus handles the rebate? View the current contacts list.
During or after college or vocation school	Apply for tuition tax credits Several federal tax benefits may be available to you if you are saving for or paying higher education costs for yourself or a member of your immediate family.	Learn more from the following resources: IRS publication 970 Federal Tuition and Fees Tax Deduction Hope Tax Credit Lifetime Learning Tax Credit Tax Deductions for Interest Paid on Educational Loans Talk to your financial aid advisor or a tax professional to learn how to take advantage of these benefits.

Timeline

Funding Option

Next Steps

4-18 years prior to high school graduation

Any time, to help pay for adult education

Open an account with a Texas 529 plan

Starting early is best. You can make smaller payments each month and cover a lot more college costs when the time comes. And by taking advantage of Texas’ prepaid plan - the Texas Tuition Promise Fund - as soon as possible, you can save thousands of dollars. The prepaid plan only covers tuition and required fees. The 529 savings plans can cover the rest.

If high school days have begun, you can still save just $25 a week or $100 a month starting freshman year and have $5,000 by graduation.

With a tax-free 529 plan, you can withdraw from your account for qualified college expenses and pay NO taxes on your savings, giving you additional dollars for college expenses.

Determine the type of school and degree plan for which you plan to save.
Use our planning calculators to find out how much you can save versus what you might need to borrow or cover through other funding sources.
Learn more about the Texas 529 plans.
Talk to a financial planner and other trusted sources to get additional savings suggestions.
Set up your accounts.

Freshman year in high school

Take advantage of dual or concurrent credit programs

High school juniors or seniors can get a head start enrolling in a college course and receiving simultaneous academic credit for the course from both the college and their high school. These courses may be taught on the high school campus or at a public two-year or four- year college campus. Dual credit courses include both academic and technical courses.

Texas state law requires all school districts to implement a program by fall 2008 that will allow students to earn the equivalent of 12 hours of college credit while in high school (TEC Sec. 28.009). These requirements may be met by offering dual credit for college courses, advanced technical courses, Advanced Placement courses, and/or International Baccalaureate courses.

To learn more about available dual and concurrent courses and tuition waivers for your local program, check with your high school counselor and local colleges.

Also, check out courses guaranteed to transfer to any Texas public college or university.

Freshman year in high school

Earn college credit through Advanced Placement and credit by examination

Learn the courses you should take in your sophomore through senior years to help you place out of college courses. If you know which school you’d like to attend, learn their policies and procedures for administering the exams and/or awarding credit.

You may be surprised at how many college credits you can earn based on required high school classes. If you apply yourself in high school, you may easily place out of a semester of classes, allowing you to enroll in fewer course hours per semester and focus more closely on the classes you do have to take.

Talk to your high school counselor about your course load and your school’s AP® course offering. Ask friends who are going to the college you want to attend if they have any tips for placing out of courses.

Additional Resources:

More details for testing out of college courses

College Entrance Test Dates and Fees

Sophomore year in high school

Seek out scholarships

Start your search early. Many scholarships are available nationally, statewide and even in your hometown. This is free money! Even local malls and stores may offer scholarships in the form of money or merchandise.

Students should always be diligent in their studies to improve their chances of winning academic scholarships, but remember that there are many types of scholarships, and some look for community involvement and other activities in their award criteria.

Begin by checking out our scholarship index, and talk to your high school counselor to find out about local opportunities. You may be able to start applying for scholarships as early as your junior year.

Alphabetical Index to Scholarships and Aid

Subject Index to Scholarships and Aid

Senior year of high school (about 10 months before your college enrollment date)

Apply for financial aid

The U.S. Department of Education’s federal student aid programs are the largest source of student aid in the U.S. These programs provide more than $80 billion a year in grants, loans and work-study assistance.

Federal student aid is the largest source — but not the only one! Use our resources to learn about other aid programs from the federal and state governments as well as colleges and universities.

You must apply to be eligible. Eligibility for federal student aid programs usually is based on financial need (except for unsubsidized Stafford and PLUS loans). There are three types of federal student aid:

GRANTS are financial aid that students don’t have to repay.
LOANS are just that — borrowed money that students must repay with interest.
WORK-STUDY arrangements let students work and earn money to help pay for school.

Undergraduates may receive all three types of financial aid, but remember that not all schools participate in federal student aid programs.

Learn more about the financial aid process and what aid may be available to you.
Complete the Free Application for Federal Student Aid (FAFSA) form online at www.fafsa.ed.gov or by contacting your school counselor.
Contact the Financial Aid Office of the college, university or vocational/technical institute you wish to attend, about 10 months before entrance. Your school’s financial aid officer controls about 90 percent of all available student financial aid. Always make sure you have the most current information, since program changes may occur each year.

After January 1 of your senior year in high school

During college

Apply for aid from the TEXAS Grant Program

The Texas Legislature established the Towards EXcellence, Access & Success (TEXAS) Grant Program to make sure that well-prepared high school graduates with financial need can go to college. A TEXAS Grant may be used to attend any public institution of higher education in Texas.

Students who obtain an associate’s degree from a community college after May 2001 and then transfer to a Texas public university within one year may be eligible for the TEXAS Grant.

Note: Students currently attending community colleges who are not eligible for the TEXAS Grant program may be eligible for the new Texas Educational Opportunity Grant . Visit the Texas Educational Opportunity Grant page for more information or talk to your college or university financial aid office.

Funding is limited, so you should submit your application as soon as possible after January 1 of your senior year.

The financial aid office at each college and university will determine if you can be offered a TEXAS Grant as part of your aid package.

More information on CollegeforTexans.com:

TEXAS Grant Program Details

Texas Educational Opportunity Grant Program (TEOG)

During enrollment at a public Texas university

Apply for a $1,000 Texas Tuition Rebate

To provide a financial incentive for students to complete a bachelor’s degree as quickly as possible, the Texas Legislature has established the Texas Tuition Rebate, which provides a $1,000 rebate on tuition to students who sign up for no more than three semester credit hours in excess of the minimum number of hours required for their degree. This results in financial savings for students and their parents as well as the state of Texas.

1. Learn more about the Texas Tuition Rebate.

2. Apply for the tuition rebate before receiving your degree, using forms provided by your college or university. Most universities provide application forms to students as part of the final degree check. Need to find out which office on your campus handles the rebate? View the current contacts list.

During or after college or vocation school

Apply for tuition tax credits

Several federal tax benefits may be available to you if you are saving for or paying higher education costs for
yourself or a member of your immediate family.

Learn more from the following resources:
Talk to your financial aid advisor or a tax professional to learn how to take advantage of these benefits.

Get an overview of Texas 529 plans and savings tips