Financial Aid Schedule

The Academic Year

The academic year runs from August to August with a maximum yearly Stafford loan limit of $20,500. Initial awards are for the fall and spring semesters. Summer applications are separate and are available online in February each year. For on-time applicants, financial aid awards are released at the beginning of each semester. Funds will first be used to pay university charges owed at the time the funds are received, i.e., tuition and fees, on-campus housing bills, etc.

Grants

Grants will be adjusted if scholarships are received or if enrolled less than full-time. Grants are awarded on a first-come, first-served basis.

Payments and Refunds

After all university charges are paid, the balance of your financial aid funds will be issued either in the form of a check mailed to you by Texas Tech University, or through Automatic Check Deposit (ACH). Please contact Student Business Services (SBS) at (806) 742-3272 or visit their Web site at http://www.sbs.ttu.edu for information regarding the necessary forms and information for direct deposit authorization.

Summer Aid

Any student who wants to apply for summer financial aid must complete an online Summer Aid Application available at the TTU financial aid web site. These applications are generally available from February 1 to June 29 each year. A separate budget is calculated based on which terms the student is attending. The amounts awarded will vary based on the balance of the academic year loan eligibility that was not borrowed during the previous nine-month award period.