About TexasCollegeMoney
What is the TexasCollegeMoney (TCM) Project?
Why is TCM needed?
What High Schools were selected for the pilot project?
Why is TCM Unique?
Does TCM cost anything?
Who are the people behind TCM?
Who can I contact if I have questions about the project?
What is the TexasCollegeMoney (TCM) Project?
TexasCollegeMoney project is a group of internet and human based services designed to:
- provide Texas high school juniors and their families with a realistic estimate of the financial aid they can expect to receive if they are admitted and enroll at any University of Texas System campus;
- help students with the transition from high school to college by facilitating personal contacts between participants and college financial aid and admissions professionals;
- join in support of the Department of Education's goal to increase college attendance and the State's higher education goal of Closing the Gaps by 2015, a campaign adopted by the Texas Higher Education Coordinating Board in 2000.
Why is TCM needed?
A new report from the U. S. Department of Education's National Center for Educational Statistics, Getting Ready to Pay for College, shows that parents and students generally either have not considered or overestimate college costs. The NCES report found that while the majority of students and parents consider education after high school, they are unable to accurately estimate the cost of college:
"Recent media attention on rising college costs combined with a general lack of knowledge about the affordability of many colleges, may unnecessarily discourage some students and parents from preparing for college." (NCES, 2003-030)
TexasCollegeMoney seeks to reverse this trend in Texas.
In addition, a recent Harris Interactive Survey found that nearly half of all parents with incomes less than $25,000 a year have "no idea" of how they are going to pay for college. Minority families expressed a greater need for financial aid information with 66% of the African American parents and 62% of the Hispanic parents saying they do not have enough information about how to pay for college. Also, 62% of all parents did not name grants as a source of financial aid. Finally, more than 25% of the young adults NOT currently in college would have been more likely to attend college if they had better information about financial aid.
What High Schools were selected for the pilot project?
The TCM pilot schools include the 70 current Longhorn Opportunity Scholarship high schools (identified by UT-Austin as having low college attendance and high financial need) and an additional 60 high schools identified through HB400 (passed in the 1999 Legislature) as high schools with low college attendance rates.
There are approximately 35,000 junior class students at these schools. The program will eventually serve all juniors in the approximately 2,000 Texas High Schools, and follow each class through the second semester of their senior year.
Why is TCM Unique?
The early awards estimator and college costs calculator service is not currently offered on any State, university, or independent financial aid organization web site.
TexasCollegeMoney will be able track, evaluate, and serve a specific group's (Texas high school juniors) interest and participation in higher education.
TexasCollegeMoney will put Texas high school juniors and their parents in personal contact with college financial aid and admissions professionals.
Does TCM cost anything?
No! TexasCollegeMoney is a FREE service of the University of Texas System.
Who are the people behind TCM?
TexasCollegeMoney is administered by the University of Texas System; Mark G. Yudof, Chancellor. TCM contibutors encompass a full range of expertise in areas such as student financial aid, college recruitment and college admissions. TexasCollegeMoney also works in partnership with the Admissions and Financial Aid Offices of nine U. T. campuses, 130 Texas High Schools, and the Texas Higher Education Coordinating Board.
Who can I contact if I have questions about the project?
Matt Orem, Director of College Access, Institute for Public School Initiatives, 512-499-4266, morem@utsystem.edu
