TAMIU SELECTED ONE OF ONLY TWO TEXAS UNIVERSITIES OFFERING FEDERAL PILOT STUDENT LOAN PROGRAM
Written by Post Public Information Representative, Jan 9, 2017, Comments Off
Courtesy Steve Harmon,
(Laredo, Texas)-Texas A&M International University (TAMIU) is one of only two state universities to launch a pilot student loan program designed to augment advising and make sure students don’t make expensive student loan mistakes that can haunt their financial lives.
Only TAMIU and Texas A&M University were selected in a group of 51 national colleges and universities participating in the pilot Education Department program. The pilot tests the impact of adding counseling sessions and using dedicated tools to help students better manage their debt.
John Sharp, chancellor of The Texas A&M University System, said he is proud that the universities were the only two in the state included in the program.
“This effort is consistent with our commitment to providing an affordable, high-quality education that prepares our students for success after graduation,” Sharp said.
In a statement, Ted Mitchell, undersecretary of education, said, “It’s important for students to make good decisions about their student loan borrowing, but many lack timely and relevant information about financial aid to guide their borrowing decisions each year.”
All told, some 100,000 U.S. students will participate in the pilot program. Some will receive additional counseling; others will only receive the standard entrance/exit advising. The program will run for several years and will look at borrower outcomes to determine what works best.
At TAMIU, a third-party counseling service will help deliver the pilot, said Christine Cortez, associate director of financial aid.
TAMIU has been involved in a similar, statewide pilot program with the Texas Higher Education Coordinating Board, Cortez said. For that program, they have been using the TG Student Financial Education Program.
“Response from students has been positive, and we believe it will be crucial in helping students learn how to borrow wisely, pay loans back in a timely manner and advance their financial literacy beyond our campus and into their lives,” she said.
