Financial Aid

In the Higher Education Act of 1965 (HEA), as amended, Congress mandated that federal student aid eligibility be determined using The Free Application for Federal Student Aid (FAFSA®) form. The FAFSA form is the only application required by statute to apply for federal student aid programs authorized under Title IV of the HEA.

The FSA ID is a username and password combination you use to log in to U.S. Department of Education (ED) online systems. The FSA ID is your legal signature and shouldn’t be created or used by anyone other than you—not even your parent, your child, a school official, or a loan company representative. You’ll use your FSA ID every year you fill out a Free Application for Federal Student Aid (FAFSA®) form and for the lifetime of your federal student loans.

General eligibility requirements include that you have financial need, are a U.S. citizen or eligible noncitizen, and are enrolled in an eligible degree or certificate program at your college or career school. There are more eligibility requirements you must meet to qualify for federal student aid. For more detail, visit Eligibility Requirements | Federal Student Aid

usually are awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree. A Federal Pell Grant, unlike a loan, does not have to be repaid. You may not receive Federal Pell Grant funds from more than one school at a time. It is a grant program that students can use at any eligible post-secondary school as long as they have not reached the lifetime limit (the equivalent of six years of Pell funding). In order to apply for a Pell Grant, students must complete The Free Application for Federal Student Aid (FAFSA®) form.

Schools use the information on the FAFSA® form to determine your eligibility for a Pell Grant, and if so, how much you’re eligible to receive. Award amounts vary based on a student’s financial need, an institution’s cost of attendance and enrollment status.

Is a need-based grant program available to degree-seeking, resident, undergraduate students who demonstrate substantial financial need. https://www.floridastudentfinancialaidsg.org/PDF/factsheets/FSAG.pdf

The Scholarships for Children and Spouses of Deceased or Disabled Veterans (CSDDV) provides an award to dependent children or un-remarried spouses of qualified Florida veterans. https://www.floridastudentfinancialaidsg.org/PDF/factsheets/CSDDV.pdf

Made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school. This is a type of federal student loans where a borrower isn’t generally responsible for paying interest while in an in-school, grace, or deferment period.

Made to eligible undergraduate, graduate, and professional students, but eligibility is not based upon financial need. Interest is charged during in-school, deferment, and grace periods.

Are made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.

If you got your loan on or after July 1, 2024, and before July 1, 2025:

• For undergraduate students, the interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans is 6.53%
• For graduate or professional students, the interest rate for Direct Unsubsidized loans is 8.08%.
• For parents of dependent undergraduate students and for graduate or professional Students, the interest rate for Direct PLUS Loans is 9.08%.

If you got your loan after July 1, 2023, and before July 1, 2024:

• For undergraduate students, the interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans is 5.50%.
• For graduate or professional students, the interest rate for Direct Unsubsidized loans is 7.05%.

Is a percentage of your loan amount charged by the lender for the processing of your loan. Federal student loans have an origination fee; therefore, the amount you may receive as a disbursement may be slightly lower than the amount you accept.

• If you’re an undergraduate, the maximum combined amount of Direct Subsidized and Direct Unsubsidized Loans you can borrow each academic year is between $5,500 and $12,500, depending on your year in school and your dependency status.
• If you’re a graduate/professional student, you can borrow up to $20,500 in Direct Unsubsidized Loans each academic year.

You must complete exit counseling when you leave school or drop below half-time enrollment. The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment. Student Loan Exit Counseling

If you borrowed federal student loan aid, you have to pay it back. However, you can choose the federal student loan repayment plan that’s best for you. To make your payments more affordable, repayment plans can give you more time to repay your loans or can be based on your income. You can use the Loan Simulator to get an early look at which plans you may be eligible for and see estimates for how much you would pay monthly and overall. Loan Simulator