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Florida College Access Network Conference September 2006 Tampa, Florida

Florida College Access Network Conference September 2006 Tampa, Florida. Financial Aid: What’s New & What to Do! Presented by: Cynthia Williams Florida Department of Education Office of Student Financial Assistance (OSFA). Agenda. State Grants & Scholarships Federal Programs

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Florida College Access Network Conference September 2006 Tampa, Florida

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  1. Florida College Access Network Conference September 2006 Tampa, Florida Financial Aid: What’s New & What to Do! Presented by: Cynthia Williams Florida Department of Education Office of Student Financial Assistance (OSFA) Office of Student Financial Assistance – FCAN 2006

  2. 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 2006

  3. 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 2006

  4. 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 2006

  5. 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 2006

  6. 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 2006

  7. 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 2006

  8. 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 degree • Need determination – Students required to file FASFA • Undergraduate, resident, full-time status • University can award up to the Cost of Attendance Office of Student Financial Assistance – FCAN 2006

  9. 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 2006

  10. 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 2006

  11. 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 2006

  12. Visit OSFA Website at www.FloridaStudentFinancialAid.org Office of Student Financial Assistance – FCAN 2006

  13. Florida Financial Aid Application • One Application for All Programs Office of Student Financial Assistance – FCAN 2006

  14. Florida Financial Aid Application Application for 2007-08 available December 1st Office of Student Financial Assistance – FCAN 2006

  15. Important Application Deadlines • 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 Office of Student Financial Assistance – FCAN 2006

  16. 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 2006

  17. 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 2006

  18. 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 Amount • 3rd year - $4,000 • 4th 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 2006

  19. 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 2006

  20. FAFSA Website – www.fafsa.gov Office of Student Financial Assistance – FCAN 2006

  21. 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 2006

  22. Institutional Sources of Aid Most postsecondary institutions provide • Internships • Merit scholarships • Need-based grants • Check with financial aid officers for more information. Office of Student Financial Assistance – FCAN 2006

  23. 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 2006

  24. 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 2006

  25. Financial Aid Resources • www.FloridaStudentFinancialAid.org • www.fafsa.edu.gov • www.finaid.org • www.fastweb.com Office of Student Financial Assistance – FCAN 2006

  26. Contact Us • Florida Department of Education • Office of Student Financial Assistance • 1-888-827-2004 • www.FloridaStudentFinancialAid.org Office of Student Financial Assistance – FCAN 2006

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