Texas students who have benefited from a popular state student-aid program will be allowed to receive interest-free loans from the program this fall after all, even though it has suffered from budget cuts that at first appeared to jeopardize their aid.
Earlier this month, several hundred students who had received loans from the “B On Time” program were told that an $8-million cut in the program’s budget could make it impossible for them to continue getting the loans.
But officials at the Texas Higher Education Coordinating Board announced on Thursday that they had found $2-million in “non-state funds” that would be used to continue to provide loans to students who have previously been enrolled in the program, according to the Houston Chronicle.
However, incoming freshmen and other new applicants for the aid still will be unable to participate. Under the program, participants who graduate on time and maintain a B average may also have their loans forgiven. —Sara Hebel
