Update March 25: Faculty senators learned at a meeting Wednesday afternoon that university officials received $678,000 in reallocated funds for the 2015-2015 academic year, said Chris Murr, director of Financial Aid and Scholarships.
There is a part of Texas grants that don’t get used, said Michel Conroy, faculty senate chair. University officials applied to receive funds that were not used in the 2015-2016 academic year.
“If students have loans and were eligible for Texas grants, but didn’t get the full amount they were eligible for, this money is being distributed now.”
The debts of students who have taken out loans will be reduced, said Alexander White, faculty senate vice chair.
*A previous version of this article stated that the university was set to receive $25 million. That information was incorrect.