Financial Aid Programs
Programs Offered by the Financial Aid Office
A Federal Pell Grant is awarded based on each student’s financial need. Need is primarily based on Adjusted Gross Income (AGI) and family size, but other factors such as assets are also taken into account. The exact eligibility amount is calculated when the College receives and processes an Institutional Student Information Report (ISIR) from the U.S. Department of Education. Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. The annual maximum and minimum awards are set by federal regulations. Pell Grant funds are based on the number of hours enrolled when the funds are received. All other sources of aid will be given in addition to the Pell Grant.
Methods of Disbursement for Pell Grants
Title IV funds may be used to pay tuition and fees for all students at the time of registration. After registration, Title IV funds will be requested from the Department of Education for only the amount of tuition and fees applied to student accounts. The balance of Title IV funds will be credited to all student accounts as applicable beginning with the fifth week of the semester. Student refunds of Title IV funds will be made in accordance with the Department of Education’s requirement of fourteen days after a credit balance appears on the students’ accounts. This calculation is based on calendar days, not including breaks with five consecutive calendar days or more.
FSEOG is awarded to undergraduates with exceptional financial need, with priority given to Federal Pell Grants recipients with the lowest Expected Family Contributions (EFC).
Students will be awarded FSEOG based on the availability of funds at the College on a first-come, first-served basis until funds are depleted. The College cannot guarantee that every eligible student will receive an FSEOG award. The annual maximum and minimum awards are set by federal regulations.
Ranger College participates in the Federal College Work-Study Program which is sponsored jointly by the federal government and Ranger College. Students must submit a FAFSA and have unmet financial need to be eligible for work-study. Student assistants are employed in faculty and administrative offices, laboratories, the library, student services.
Because all wages are on an hourly basis, work schedules are arranged around class schedules.
Funds are awarded on a first-come, first-served basis until funds are depleted. Students must request work-study by FAFSA or in person.
To apply for a federal student loan you must first complete and submit a Free Application for Federal StudentAid (FAFSA). Based on the results of your FAFSA form will determine your eligibility for a federal student loan and determine if it will be a Subsidized Stafford Loan or an Unsubsidized Stafford Loan. You will also be required to submit a Student loan Request Form to the Financial Aid Office.
Before you receive your loan funds you will be required to complete entrance loan counseling, financial awareness counseling, student loan acknowledgment, and sign a Master Promissory Note, agreeing to the terms of the loan.
All loans will come in two disbursements unless there is less than 30 days remaining in the award period.
Awards are available to students enrolled at least ½ time (minimum of 6 hours) with established financial need as determined by submission of a Free Application for Student Financial Aid (FAFSA). Award amounts are determined by federal regulations. Repayment and accrual of interest begins 6 months after ceasing to attend at least ½ time. The government pays the loan interest while the student is enrolled at least ½ time.
- Note: Due to federal law, funds for first time borrowers at Ranger College may not be disbursed until 31 days after the beginning of the semester.
- Students must be enrolled at the time funds are disbursed.
Awards are available to students enrolled at least ½ time regardless of financial need. Maximum eligible amounts include awards for the same period through the Subsidized Stafford Loan program and are determined by federal regulations. Interest accrual begins at the time loan funds are received.
- Note: Due to federal law, funds for first-time borrowers at Ranger College may not be disbursed until 31 days after the beginning of the semester.
- Students must be enrolled at the time funds are disbursed.
Funds are available to parents of dependent students that are enrolled at least ½ time regardless of financial need. Borrowers must be US citizens or permanent residents. Parents may borrow up to the cost of attendance minus other aid received by the student. Interest accrues upon receipt of loan funds. Repayment begins within 60 days of receipt of full disbursement of funds.
- Students must be enrolled at the time funds are disbursed.
This grant was established by the Texas State Legislature for Texas residents based on need. The annual maximum and minimum awards are set by state regulations and are awarded on a first come, first-served basis until funds are depleted.
This grant was established by the Texas State Legislature to help needy students who complete high school with advanced curriculum and are pursuing an Associate Degree. These funds will be awarded on a first-come, first-served basis until all funds are depleted. This grant is only available to full-time students who are Texas residents.
Hardship Policy:
In the event of a hardship or other good cause, the Financial Aid Director may allow an otherwise eligible person who is awarded a Texas Grant or TEOG to receive the funds while enrolled for less than ½ time or if the student falls below student academic progress requirements. Requests will be reviewed on a case-by case basis. The policy is available in writing in the Financial Aid Office for public review upon request.