SMU wants to cover college costs for more first-generation, underrepresented Texas students

A new scholarship aims to help more first-generation and underrepresented students attend Southern Methodist University by covering their tuition. The new program, Access SMU, will close financial gaps among high-achieving Texas students who are eligible for Pell Grants — federal aid given to students with significant financial need. “This is another bold step in SMU’s commitment to students and Texas,” said Elizabeth Loboa, SMU’s provost and vice president for academic affairs. Tuition and fees at SMU cost about $62,000 for undergraduate students, according to the university. It’s considered to be Texas’ priciest school, according to a Texas Higher Education Coordinating Board database. Meanwhile, the maximum Pell Grant award for 2022-23 will be $6,895. Students generally end up paying less than schools’ total tuition and fees with financial aid and scholarships helping cover the costs.

About 12% of the school’s undergraduate students receive Pell Grants, according to Wes Waggoner, SMU’s associate vice president for enrollment management. SMU is often competing against public universities for Texas’ top students as those graduating in the top 10% receive automatic admission into nearly every state school, which can cost up to six times less. “Talented, incredible students have to look at other places for financial reasons,” Waggoner said. “We want to break that sort of way of thinking … help them get over that barrier, see beyond that barrier.” The school will begin distributing awards to about 250 students starting this fall. University officials project that SMU will invest an additional $4.5 million in institutional funds to the qualifying students. (SMU is a supporter of The Dallas Morning News’ Education Lab.) Although more than 70% of SMU students already receive scholarships and need-based financial aid, “even a small gap between available aid and the cost of education can be insurmountable,” SMU President R. Gerald Turner said. SMU officials consider high-achieving students as those who are already receiving major academic merit scholarships awarded by the university but in amounts that do not cover their full costs, said Kim Cobb, a school spokesperson. Such scholarships are awarded based on high school achievements, such as grades, rigor of curriculum and any test scores they may have submitted.