B-On-Time Program Requirements

Only students that were awarded the B-On-Time Loan by the PVAMU Office of Student Financial Aid should complete the B-On-Time Promissory Note.

Students must:

Have completed a FAFSA and be eligible to receive federal financial aid
Be enrolled full time in an undergraduate degree or certificate program at an eligible institution, and
Be a Texas resident or be entitled to pay resident tuition rates as a dependent child of a member of the U.S. armed forces, and
Have graduated in the 2002-2003 academic year or later from a high school operated by the U.S. Department of Defense or under the recommended high school program from a public or accredited private high school in Texas, OR
Have earned an associate’s degree from an eligible institution no earlier than May 1, 2005

In the 1st Academic Year - make satisfactory academic progress toward a degree or certificate as determined by the institution.
In the 2nd and Subsequent Academic Years - complete at least 75 % of the semester credit hours attempted in the most recent academic year and have a cumulative GPA of at least a 2.5 on a 4.0 scale (or the equivalent) on all course work previously attempted at institutions of higher education.
A student may not receive B-On-Time loans for more than 150 hours.

A Texas B-On-Time Loan shall be forgiven if the student receives an undergraduate degree or certificate from an eligible institution and the student either graduated with a cumulative GPA of at least a 3.0 on a four-point scale, within the required timeframe, or
graduated with a cumulative GPA of at least 3.0 on a 4.0 scale, with a total number of credit hours (including transfer hours and hours earned exclusively by examination) that is no more than 6 hours beyond what is required to complete the degree or certificate.
Forgiven BOT loans must be reported to the IRS as taxable income.