Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Florida College Access Network Conference

September 2006Tampa, Florida

Financial Aid:

What’s New & What to Do!

Presented by: Cynthia WilliamsFlorida Department of Education

Office of Student Financial Assistance (OSFA)

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Agenda

• State Grants & Scholarships

• Federal Programs

• Additional Financial Aid Resources• Institutional Aid• Private Sources

College Goal Sunday

Financial Aid Resources

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

State Grants & Scholarships

$604 million was appropriated to fund State Programs in 2006-07.

Three largest state funded programs:

Florida Bright Futures Scholarship Program- $346.3M

Florida Student Assistance Grant (FSAG) - $120.5M

Florida Resident Access Grant (FRAG) - $102.6M

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Florida Bright Futures Scholarship Program

Merit based scholarships that reward high school graduates for high academic achievement

Award Amount up to 75% -100% of tuition & fees

Comprised of the three following awards Florida Academic Scholars Award (FAS) -

100% (Including Academic Top Scholars)

Florida Medallion Scholars Award (FMS) – 75%*

(*100% at Public Community Colleges)

Florida Gold Seal Vocational Scholars Award – 75%

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Florida Bright Futures Scholarship Program Florida Academic Scholars Award (FAS)

3.5 GPA in 15 College Preparatory Courses 1270 SAT or 28 ACT Community Service 100% Tuition and Fees Award

Florida Medallion Scholars Award (FMS) 3.0 GPA in 15 College Preparatory Courses 970 SAT or 20 ACT 75% Tuition and Fees Award (100% at Public Community

Colleges)

Gold Seal Vocational Scholars Award (GSV) 3.0 GPA in Coursework Required for HS Graduation 3.5 GPA in 3 Vocational Courses College Placement Test Scores at Non Remedial Levels 75% Tuition and Fees Award

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Florida Student Assistance Grant (FSAG)

Need-based grant for students who demonstrate substantial financial need.

Students are required to complete the Free Application for Federal Student Aid (FAFSA)

2006-07 Maximum Award Amount - $1,722

EFC and college’s cost of education determine amount of awards

Institution determines application procedures, deadlines and student eligibility.

Contact college financial aid counselor

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Florida Resident Access Grant (FRAG)

Provides tuition assistance to Florida undergraduates attending eligible 4-year, private, postsecondary institutions.

Institution determines application procedures, deadlines and student eligibility.

2006-07 Annual Award Amount - $3,000

Contact college financial aid counselor

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

New State Grants & Scholarships

First Generation Matching Grant Program Creates a need-based grant program for 1st

generation in college students who attend a public state university

State universities will match state funds with private funds up to $6.5 million

Student eligibility is based on Parents have not earned a baccalaureate degreeNeed determination – Students required to file

FASFAUndergraduate, resident, full-time status

University can award up to the Cost of Attendance

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

New State Grants & Scholarships

Commercial Motor Vehicle Operator Training Grant (CMV)Highway safety in Florida is a priority $1,000,000 grant Training to receive the commercial driver’s

license At Public and Private Vocational Training

Centers $2,500 Forgivable Loan

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

State Grants & Scholarships

Merit-based Florida Bright Futures Scholarship Program Robert C. Byrd Honors Scholarship Program (federal funds)

Need-based (requires FAFSA) Florida Student Assistance Grant (FSAG) Jose Marti Scholarship Challenge Grant Program Rosewood Family Scholarship Program Mary McCloud Bethune Scholarship Program Florida Work Experience Program First Generation Matching Grant Program

Special Interest Children/Spouses of Deceased or Disabled Veterans (CSDDV) Ethics in Business Scholarship Florida Resident Assistance Grant (FRAG) Access to Better Learning & Education Grant (ABLE) Commercial Motor Vehicle Grant Program

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

How to Apply for State Aid

Submit Florida Financial Aid Application online

Eligibility criteria vary by program In general……

Must be US citizen or eligible non-citizen Meet residency requirement Attend a postsecondary institution in Florida Be enrolled in a degree or certificate program Not owe a repayment on a federal or state grant or

be in default of a federal or state loan Make satisfactory academic progress

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Visit OSFA Website at www.FloridaStudentFinancialAid.org

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Florida Financial Aid ApplicationOne Application for All Programs

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Florida Financial Aid ApplicationApplication for 2007-08 available December 1st

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

April 1, 2007

• José Martí Scholarship Challenge Grant• Rosewood Family Scholarship Fund• Scholarship for Children/Spouses of

Deceased/Disabled Veterans

April 15, 2007

• Robert C. Byrd Honors Scholarship Program

High School Graduation

• Florida Bright Futures Scholarship Program

Important Application Deadlines

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Federal Programs

Federal Grants Pell Grants are available to undergraduate students

only and do not have to be repaid

Federal Loans Student loans that must be repaid and are

available to both graduate and undergraduate students Stafford Subsidized (Need-based) Stafford Unsubsidized

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

New Federal Programs

Academic Competitiveness Grant (ACG) First and second year college students Pell grant recipients = Need-based Program Enrolled at a 2- or 4-year institution Degree-seeking, Full-time U.S. Citizens (Eligible non-citizens NOT eligible) “High School rigorous curriculum”

Bright Futures coursework, or Two AP or IB courses with passing test grades

ACG Award Amount: 1st year: $ 750 2nd year: $1,300

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

New Federal Programs

SMART Grant Third and fourth year students Degree-seeking in designated program of study

Computer Science, Engineering, Foreign Language, Life Sciences, Mathematics, Multidisciplinary Studies, Physical Sciences, Technology

Award Amount3rd year - $4,0004th year - $4,000

Pell Grant recipients = Need-based Program Enrolled full-time at a 2- or 4-year institution U.S. Citizens (Eligible non-citizens NOT eligible) Awards determined at the student’s postsecondary

institution

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

How To Apply for Federal Aid

Complete the Free Application for Financial Student Aid (FAFSA)

Check Student Aid Report (SAR) for Accuracy

FAFSA Calculates the student Expected Family

Contribution (EFC) Schools use EFC to award financial aid

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

FAFSA Website – www.fafsa.gov

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Federal Student Aid Eligibility

To receive federal student aid a student must be:

A US citizen or eligible non-citizen Registered with the Selective Service Attending a participating school Working toward a degree or certificate Making satisfactory academic progress Not owe a refund on a federal grant or

be in default on a federal education loan Must have financial need (except for

unsubsidized Stafford Loans) Not have any drug convictions

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Most postsecondary institutions provide Internships Merit scholarships Need-based grants Check with financial aid officers for

more information.

Institutional Sources of Aid

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Private Sources of Aid

Corporate Scholarships

Non-profit Scholarships

Scholarship from civic & professional organizations

Check with college Foundation office or financial aid office

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

College Goal Sunday

February 25, 2007

Program to help low-income families and first-generation college students complete FAFSA.

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Financial Aid Resources

www.FloridaStudentFinancialAid.org

www.fafsa.edu.gov

www.finaid.org

www.fastweb.com

Office of Student Financial Assistance – FCAN 2006Office of Student Financial Assistance – FCAN 2006

Contact Us

Florida Department of Education

Office of Student Financial Assistance

1-888-827-2004

www.FloridaStudentFinancialAid.org