AUSTIN—Gov. Greg Abbott this week announced the State of Texas will invest $57 million in federal funds to maintain the state’s need-based financial aid programs to keep more students enrolled at their colleges and universities.
“As Texas responds to the economic and educational impacts of COVID-19, we want to make sure that students who depend on financial aid continue to receive the support they need to earn their college degree,” said Abbott. “This funding will help keep our students on the path to finishing their education and entering the workforce with knowledge and experience that will help them launch productive careers and attract more employers to our state. These grant programs provide targeted investments in Texas students and in the future of our state.”
The investment of federal funds, advanced by Gov. Abbott, Lt. Gov. Dan Patrick, Speaker of the House Dennis Bonnen, legislative budget writers Senators Jane Nelson and Juan “Chuy” Hinojosa, and Representatives Giovanni Capriglione and Oscar Longoria, will offset potential coronavirus-related cuts to key state financial aid programs, including TEXAS Grants, Texas Educational Opportunity Grants and Tuition Equalization Grants.
“Today’s funding maintains our solid investment in our higher ed students and in Texas’ future. These are tough times, but we must do all we can to keep every Texas student on track,” said Patrick.
The funding comes from the governor’s Emergency Education Relief Fund made through the Coronavirus Aid, Relief and Economic Security (CARES) Act signed into law by President Trump.
“Keeping Texas students on track to earn high-value credentials is vital not only for those students and their families but also to help accelerate the state’s economic recovery,” said Commissioner of Texas Higher Education Harrison Keller. “[T]his strategic investment in students will translate directly into a stronger, more resilient workforce for the future. Our institutions are committed to keeping students on the path to earning a credential, and each of these grant programs provides critical support for that mission.”