Washington, DC (September 25, 2008) – Today, Congressman Rubén Hinojosa (TX-15) announced that the U.S. Department of Education has awarded The University of Texas-Pan American $1.2 million for the Hispanic-Serving Institutions (HSIs) Program under the College Cost Reduction and Access Act. South Texas College will be awarded a grant in the amount of $661,361. It is anticipated that the grants will be for a total of two years. The purpose of the grants is to increase the number of Hispanic and other low-income students attaining degrees in the fields of science, technology, engineering, or mathematics.
“This landmark investment is essential to harnessing the talent of our students in South Texas so that they are ready to answer the nation’s call for more scientists and engineers,” said Hinojosa. “This grant will also strengthen the University of Texas – Pan American and South Texas College as they to continue to play vital roles in developing our human capital and making our regional economy globally competitive.”
The College Cost Reduction and Access Act, provides $200 million in competitive grants over the next two years to HSIs. Priority funding will be given to HSIs that increase the number of low-income students attaining degrees in the fields of science, technology, and math.
Like other minority-serving institutions, HSIs are more likely to offer support services for Hispanic students, such as mentoring, tutoring and counseling programs, than are other institutions. HSIs enroll approximately one half of all Hispanic students in higher education. To qualify as a HSI, Hispanic enrollment at an institution must be at least 25 percent of the total student enrollment and the institution must have a high percentage of needy students and low general expenditures.
The College Cost Reduction and Access Act was enacted in 2007 and provides the greatest increase in federal student aid since the GI bill, and at no new cost to taxpayers.
In addition to increasing aid for HSIs, the law also boosts the Pell Grant scholarship, cuts interest rates on need-based student loans and more. About 37 percent of Hispanic students receive the Pell Grant scholarship each year. About 25 percent of Hispanic students take out need-based student loans each year.
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