Financial Aid

What is Financial Aid?

Financial aid is money awarded to assist students in meeting the costs of post-secondary education. Financial aid may be available from the federal government, many state governments, civic groups, private groups, and/or educational institutions themselves.

Online information about Federal Aid is available at FSAIC http://federalstudentaid.ed.gov/ and http://studentaid.ed.gov/. Completing the FAFSA (Free Application for Federal Student Aid) is the first requirement in applying for federal aid. First time applicants should complete the FAFSA as soon possible after January 1. There are two ways:

  1. File the FAFSA online using the Internet Web site http://www.fafsa.ed.gov/. In advance of online submission, prepare by completing the worksheet provided at that site; note that the worksheet itself cannot be submitted as an application. Remember to complete the signature requirements described in the instructions.

  2. File a paper application. As only FAFSA-printed forms machine-scan properly, photocopies or those downloaded from the web cannot be submitted. FAFSA-printed paper forms may be available from your high school guidance office, local library, the Financial Aid Office of the closest college or university; or you may call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243 (1-800-4FedAid) between 8:00 am and midnight EST, Monday through Friday, and 9:00 am to 6:00 pm Saturday to request a paper FAFSA be mailed to you. If you are unable to call a toll-free number, dial (319) 337-5665. Mail the paper application in the envelope provided.

Who Qualifies for Financial Aid?

Once you complete FAFSA, the income, assets, and family information is used to calculate your expected family contribution. All US citizens and eligible non-citizens are eligible to apply.

What is Financial Need?

EDUCATION COST
- Family Contribution
- Scholarships or Waivers
= FINANCIAL NEED

The Education Cost includes tuition, fees, room, board, books and supplies, transportation, and an allowance for personal expenses. The Financial Need is determined by subtracting Family Contribution (the amount you and your family should be able to pay toward the cost according to nationwide standards) from the Education Cost. Any outside assistance is then subtracted and the difference represents your calculated financial need.

Types of Financial Aid

Financial aid falls into two categories, need based and non-need based. Applicants with no calculated need can receive unsubsidized loans or scholarships that are not awarded on the basis of need. Applicants with calculated need will be awarded a package of aid which may include subsidized loans, grants, scholarships, or workstudy.

Sources of Financial Aid

A. Federal Programs
Who is Eligible
Specific Requirements
How to Apply
Pell Grant (Estimated)
  • $400 to $3,750/academic yr
  • degree-seeking undergraduate students who have not received a first bachelor's degree
  • U.S. citizens or eligible non-citizen
  • have calculated need
  • awards are prorated for less than full time enrollment
  • complete the Free Application for Federal Student Aid (FAPSA) as soon after January 1 as possible
Supplemental Educational Opportunity Grant (SEOG)
  • $500 to $2,000/academic year
  • degree-seeking undergraduate students who have not received a first bachelor's degree
  • U.S. citizens or eligible non-citizen
  • must be enrolled full-time
  • have calculated need
  • complete the Free Application for Federal Student Aid (FAPSA) as soon after January 1 as possible
Perkins Loan
  • $500-$3,000
  • degree-seeking undergraduate students who have not received a first bachelor's degree
  • U.S. citizens or eligible non-citizens
  • must be enrolled full-time
  • have calculated need
  • complete the Free Application for Federal Student Aid (FAPSA) as soon after January 1 as possible
Subsidized Stafford Loan
  • 1st year undergraduate students $2,625/yr max
  • 2nd year undergraduate students $3,500/yr max
  • 3rd, 4th, and 5th year undergraduate students $5,500/yr max
  • graduate and professional students $8,500/yr max
  • repayment is automatically deferred until 6 months after you graduate, withdraw, or drop below half-time.
  • degree-seeking undergraduate students who have not received a first bachelor's degree
  • U.S. citizens or eligible non-citizens
  • must show need
  • must be enrolled at least half-time
  • have financial need
  • no loan check may be released to student until the student attends a one-time Loan Entrance Counseling Session
  • if you choose a Florida lender, your lender will send an application / promissory note to you
  • if you select a NON-FLORIDA lender, obtain the common loan application from the lender, complete and sign and submit to the school's Office of Financial Aid for further processing
Unsubsidized Stafford Loan
  • 1st year undergraduate students $4,000/yr
  • 2nd year undergraduate students $4,000/yr
  • 3rd, 4th, and 5th year undergraduate students $5,000/yr
Graduate and Professional students
  • $10,000/yr., if student is eligible for Subsidized Stafford loan
  • $18,500/yr., if student is not eligible for Subsidized Stafford loan.
  • repayment of interest NOT automatically deferred - see Specific Requirements
  • degree-seeking undergraduate students who have not received a first bachelor's degree
  • U.S. citizens or eligible non-citizens
  • borrower is responsible for paying all interest - check with lender for payment options
  • must be enrolled at least half-time
  • not based on need
  • if you choose a Florida lender, your lender will send an application / promissory note to you
  • if you select a NON-FLORIDA lender, obtain the common loan application from the lender, complete and sign and submit to the school's Office of Financial Aid for further processing
Federal Loan for Parents (PLUS)
  • parents may borrow up to cost of education (per dependent child) minus other financial aid
  • parents may borrow for dependent degree-seeking students for cost of education minus other financial aid
  • parents must not have adverse credit
  • parents and students must be U.S. citizens or eligible non-citizens
  • must be enrolled at least half-time
  • not based on financial need
  • repayment begins 60 days after disbursement
  • complete the FAFSA
  • Florida lender - lender will send you the PLUS application
  • non-Florida lender - call to obtain PLUS application from your lender
Graduate/Professional PLUS Loans
  • A graduate or professional student is eligible to borrow GRAD/PROF PLUS loan funds not to exceed his or her cost of attendance minus the student’s estimated financial assistance.
  • A graduate or professional student applying for a loan to pay educational costs incurred for at least half-time enrollment in a Graduate/Professional program
  • student must not have adverse credit
  • must be enrolled in graduate or professional program
  • must be enrolled at least half-time
  • not based on financial need
  • repayment begins 60 days after disbursement
  • complete the FAFSA
  • Florida lender - lender will send you the GRAD/PROF PLUS loan application
  • non-Florida lender - call to obtain GRAD/PROF PLUS loan application from your lender

 

B. State Programs
Who is Eligible? Students who...
Additional Information
How to Apply
Florida Student Assistance Grants (FSAG)-
  • Public & Private Postsecondary Institutions –
  • 2006-07 award amount is $200 - $1,722
  • Are United States citizens or eligible non-citizens.
  • Meet Florida’s residency requirements for receipt of state student financial aid.
  • Do not owe a repayment under any state or federal grant or scholarship program or be in default on any federal Title IV or state student loan program unless satisfactory arrangements to repay have been made.
  • Have not previously received a bachelor’s degree.
  • Meet Florida’s general eligibility requirements for receipt of state aid.
  • Enroll for a minimum of 12 credit hours per term, or the equivalent, in an associate or baccalaureate degree program, at an eligible institution to participate in the FSAG Postsecondary or FSAG Private programs.
  • Enroll for a minimum of six credit hours per term, or the equivalent, in an associate or baccalaureate degree program at Florida public state universities or public community colleges to participate in the FSAG Public program.
  • Students receiving the Public FSAG are eligible to receive an award for a maximum for 110% of the number of credit hours required to complete the program.
  • Students receiving the Private or Postsecondary Public FSAG are eligible to receive scholarship funding for 9 semesters or 14 quarters of full-time enrollment.
  • Unused hours may not be used for further course funding after a student earns a baccalaureate degree.
  • Students must maintain a 2.0 GPA to renew the award.
  • Submit your FAFSA for processing early enough to be processed by institutional deadline.
Florida Resident Access Grant (FRAG) -
  • Independent non-profit colleges and universities –
  • 2006-07 maximum award amount is $3,000.
  • Are United States citizen or eligible non-citizens
  • Meet Florida’s residency requirement for receipt of state student financial aid
  • Do not owe a repayment under any state or federal grant or scholarship program or be in default on any federal Title IV or state student loan program unless satisfactory arrangements to repay have been made.
  • Have not previously received a bachelor’s degree.
  • Meet Florida’s general eligibility requirements for receipt of state aid.
  • Enroll for a minimum of 12 credit hours per term at an eligible Florida college or university in a baccalaureate degree program.
  • Are enrolled in a program of study other than leading to a degree in theology or divinity.
  • Students are eligible to receive an award for a maximum of 9 semesters or 14 quarters.
  • Unused hours may not be used for further course funding after a student earns a baccalaureate degree.
  • Students must maintain a 2.0 GPA to renew the award.
  • Follow the application procedures established by the participating institution. Application information may be obtained at the financial aid offices of eligible Florida colleges and universities.

 

The Florida Department of Education, Office of Student Financial Assistance (OSFA) offers many merit and need-based scholarship and grant programs. Detailed information, including participating postsecondary institutions, for each program listed below may be viewed on the State Programs Web site at www.FloridaStudentFinancialAid.org by linking to State Grants, Scholarships & Applications, and then Programs Offered.

State Need-Based Programs

  • First Generation Matching Grant Program
  • Florida Student Assistance Grant Programs
       (Public, Private, and Postsecondary)
  • Florida Work Experience Program
  • Rosewood Family Scholarship Program
  • José Martí Scholarship Challenge Grant Fund
  • Mary McLeod Bethune Scholarship Program

State Merit-Based Programs
  • Florida Bright Futures Scholarship Programs
    • Florida Academic Scholar
    • Academic Top Scholar
    • Florida Medallion Scholar
    • Florida Gold Seal Vocational Scholar
 State Special Interest Programs
  • William L. Boyd, IV, Florida Resident Access Grant
  • Access to Better Learning and Education Grant
  • Scholarships for Children & Spouses of Deceased or Disabled Veterans
  • Ethics in Business Scholarship Program
  • Robert C. Byrd Honors Scholarship Program
  • Commercial Motor Vehicle Operator Training Program
 State Professional Programs
  • Critical Teacher Shortage Student Loan Forgiveness Program
  • Critical Teacher Shortage Tuition Reimbursement Program
 For further information please contact OSFA:

Florida Department of Education
Office of Student Financial Assistance
1940 North Monroe Street
Tallahassee, Florida, 32303-4759
Telephone 1-888-827-2004
Web site: www.FloridaStudentFinancialAid.org

Note: A student's financial information is considered private. The criteria for awarding financial aid through state and federal programs excludes consideration of race, age, sex, religion, creed, marital status, national origin, or physical handicap.

Half-time means 1) at least 6 semester hours or quarter hours per term at schools measuring progress by credit hours and academic terms, 2) at least 12 semester hours or 18 quarter hours per year at schools measuring progress by credit hours but not using academic terms, and 3) at least 12 hours per week at schools measuring progress by clock hours.

C. Institutional Programs

Each institution offers a variety of financial assistance packages to support its students, such as short-term loans, institutional work-study programs, research grants, and scholarships donated by the private sectors. Some aid is also available through individual colleges and departments within the university.

D. Civic Groups and Private Organizations

Financial aid such as grants and scholarships may be available from civic and private organizations, national and local professional organizations, businesses, and industries and/or private foundations offer based on place of residence, background, professional affiliations and/or field of study. In addition, do not overlook local sources of financial aid. Some examples of local organizations are the American Legion, YMCA, 4-H Clubs, Chamber of Commerce, Kiwanis, Jaycees, hospital auxiliaries, Girl Scouts, and Boy Scouts.

E. Financial Aid in Health Professions Programs

The U.S. Department of Health and Human Services/Health Resources Administration administers programs of assistance for students enrolled in health professions programs.
Scholarship programs (competitive) include the
Loan programs include the following need-based, competitive programs:
See more information at http://www.hrsa.gov/help/healthprofessions.htm or write:
Health Resources and Services Administration
Bureau of Health Professions
Division of Health Careers, Diversity and Development
Campus Based Branch
Parklawn Building, Room 8-42
5600 Fishers Lane
Rockville, MD 20857
(301) 443-4776

F. Financial Aid for Minority Students

The state of Florida offers the Florida Minority Medical Education Program to encourage minorities to enter the medical profession. There are other financial aid programs which assist minority students. The following are some of the major ones at Florida universities:

Board of Regents Summer Program (UF)
Blayton Hawkins Memorial Scholarships (FSU)
Delores Auzenne Fellowship for Minority Graduate Students (FSU, UF)
Eartha M. M. White Scholarship (UNF)
Graduate Minority Fellowships (UF)
Harris Fellowships (UF)
Leslie N. Wilson Assistantships (FSU)
Martin Luther King, Jr., Memorial Scholarship (FAMU)
McKnight Black Doctoral Fellowships (UF, FSU)

G. Financial Aid Information

For detailed information, students should contact a high school guidance counselor, the financial aid office and/or the office of admissions at the individual institution, or Florida Department of Education. Directories and guides to sources of student financial aid are also available in guidance offices and public libraries. Some important addresses, telephone numbers, and publications are listed below:

Office of Student Financial Assistance
Florida Department of Education
Florida Education Center, 255 Collins
1940 North Monroe Street, Suite 70
Tallahassee, FL 32303
1-888-827-2004		 Federal Student Aid Information Center
Federal Student Aid Programs
PO Box 84
Washington, DC 20044
(800) 433-3243
Web site: http://www.ed.gov

"The Student Guide to Federal Financial Aid Programs" may be found in guidance offices, downloaded from <http://studentaid.ed.gov/students/publications/student_guide/index.html> or may be obtained from the Federal Student Aid Information Center (address listed above). The book is updated annually.

"Meeting College Costs" is an annual publication of The College Board directed to parents. The current edition is generally available to high school students through guidance counselors. A link to buy the publication can also be found at http://store.collegeboard.com/product_detail.asp?item=007069.

"Need A Lift?" is published annually by the American Legion Education Program.
Send a check or money order for $3.95 to: The American Legion, National Emblem Sales, PO Box 1050, Indianapolis, IN 46206. Copies can also be purchased by telephone (888) 453-4466, using your credit card.

"Don't Miss Out: The Ambitious Student's Guide to Financial Aid, 1998-1999" by Leider, R. and Leider, A.

Financial Aid Web Sites

Federal http://www.ed.gov
Federal http://www.fedmoney.org
Florida http://www.floridastudentfinancialaid.org/osfahomepg.htm
Bright Futures Scholarship Program www.FloridaStudentFinancialAid.org
Veterans Administration http://vabenefits.vba.va.gov/vonapp/who_uses.asp#EDU
US Dept. of State http://www.state.gov/m/dghr/flo/rsrcs/pubs/7228.htm

Updated: 2007