Section 56.011 - Resident Undergraduate Student Assistance(a) The governing board of each institution of higher education shall cause to be set aside not less than 15 percent of any amount of tuition charged to a resident undergraduate student under Section 54.0513 in excess of $46 per semester credit hour. The funds set aside under this section by an institution shall be used to provide financial assistance for resident undergraduate students enrolled in the institution.(b) To be eligible for assistance under this section, a student must establish financial need in accordance with rules and procedures established by the Texas Higher Education Coordinating Board. Priority shall be given to students who meet the coordinating board definition of financial need and whose cost for tuition and required fees is not met through other non-loan financial assistance programs.(c) The financial assistance provided under this section may include grants, scholarships, work-study programs, student loans, and student loan repayment assistance.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1243,Sec. 7, eff. 9/1/2015, applicable beginning with tuition charged for the 2015 fall semester.Added by Acts 2003, 78th Leg., ch. 1321, Sec. 5, eff. 9/1/2003.