UPDATED: Friday, April 13, 2012 - 9:53am
WACO -- Lawmakers are looking to cut the budget in every way, and private universities like Baylor aren't out of lawmakers' line of fire when it comes to balancing the state's budget.
Expect financial aid to be cutback nearly half or $87.4 million dollars.
"It could affect quite a few students, but, again, it's very early right now. We will continue to look at the proposed bill and look at the proposed reductions in funding to identify areas that might impact Baylor," said Baylor Spokesperson, Lori Fogleman.
Fogleman says cuts to the Tuition Equalization Grant Program could be costly for students already enrolled.
That would leave more than 3,200 students at Baylor finding other ways to pay for their education.
That's a quarter of the school's population, and students worry what will happen if universities can't work something out with lawmakers.
"The difficulty is that there are certain programs that are offered here at Baylor that aren't offered in other places. So, for people that are in to those programs that's where they're going to feel the most pain," explained one student, Lance Lormand.
Today, the program pays up to $5,700 a semester for needy students at 40 private schools in Texas. University officials stress no decisions are final just yet, and they will continue to keep an eye on Lawmakers.