Qualifying college students will be able to renew loans from the state's B-On-Time program in the upcoming school year, however, the program still won't be taking new applicants. Earlier this month, the Texas Higher Education Coordinating Board told college financial aid offices that there wouldn't be enough money to renew loans for all of the students who qualify. But the board announced today that they'd "identified non-state funds that can be used to cover the funding gap."
The program awards students loans that are forgiven if the
students graduate within four years for most degree plans with at
least a 'B' average. To renew, the student must maintain a
two-point-five grade-point average. It converts to a zero interest loan if the student doesn't meet the requirements.