TEXAS (CBSDFW.COM) – Some Texas college students could find themselves looking for new ways to pay for their education. According to education officials, the state has less money to use for financial aid.

So far, the state has cut grant programs and now Texas Higher Education Coordinating Board Commissioner Raymund Paredes is working on ways to spread those dollars around.

“My fundamental principal is trying to achieve the greatest good for the greatest number and that may mean that nobody gets 100-percent of what we might define as being good,” he said.

Basically Paredes says not everyone will get the dollars they think they might need. “We’re trying to come up with a financial aid policy that stretches dollars in the most equitable way possible.”

While education-funding cuts have limited financial aid dollars, the goal is to still help as many students as possible graduate from college.

Paredes says it’s elementary that having the money for school has a direct impact on those seeking higher education and that universities need to work on programs that will help students get the degrees they seek.

“Financial aid is simply part of an overall academic strategy that institutions need to develop in order to help their students succeed,” he said.

In addition to financial aid from the state being reduced by 15-percent, last month the state announced tuition hikes between 6- and 10-percent at some public universities.