B-On-Time Program Costing Some Universities Millions

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Even if state Sens. Dan Patrick, R-Houston, and Jeff Wentworth, R-San Antonio, are successful in their effort to end the practice of setting aside a portion of tuition for financial aid, it would not cut off funding for the set-aside-funded B-On-Time Loan Program for students at public institutions. The program offers sweet savings if you are a student. But if you are an institution of higher education, the program might be costing you anywhere from a few thousand to millions of dollars.

Currently, at each public university, 5 percent of tuition that exceeds a certain level is turned over to ...

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