 The Financial Aid brochure provides information about options to pay for college. To supplement costs, most students take out loans to pay for college. There are a variety of loans available through the state, federal government, and private institutions that provide money for school. These loans have low interest rates that can be repaid over a longer period of time after graduation. This section of the website outlines financial aid in the form of gifts that you may want to explore further as helpful ways to cut back on the amount you will need to borrow.
College is well worth the cost and sacrifices you might have to make. It is a valuable investment in your future. Meeting the ongoing cost of education can be a challenge. Today, people think creatively and carefully about their funding options for school. Some look for lower cost options which might include community college, distance programs, state residency for state schools, going to school part-time or working and attending school at the same time. In addition, to plan for a low-cost education, there are many private and government programs to assist with paying for school.
Projecting the full cost of your education can help you decide what you can afford to pay, so you can find the appropriate funding sources. Check out the college aid calculator http://www.finaid.org/calculators/ to help project future costs or current costs you will incur for college. This calculator takes into consideration the year you are planning to attend college and calculates your expenses based on projected increases in the cost of college.
Financial aid is money from the federal, state or private institutions awarded to help students like you, pay for college expenses. There are two types of financial aid, gift, and self-help aid. Gift aid includes grants, and scholarships - gifts of money to pay for college that you don't have to repay. Self-help aid includes employment, such as part-time jobs that can help curb college expenses, and loans, which you will need to repay.
Financial Aid is based on demonstrated need and is designed to help students who cannot afford the costs to attend college. Scholarships based on merit should be seen as a reward for grades, special talents, creativity, leadership, or whatever items a specific program uses to select its recipients.
Applying for Financial Aid:
The Free Application for Federal Student Aid (FAFSA) is the Financial Aid application you will need to use in order to apply for both federal and state student aid, student grants, work-study, and loans. While the FAFSA may seem lengthy and complex, there are many free resources online and in hard copy to help you navigate through the application process.
To access the FAFSA application you can go through one of the following direct links: http://www.floridastudentfinancialaid.org/ or http://www.fafsa.ed.gov/
There are some tax incentives that can help make college affordable for you. The federal government offers several tax credit programs listed below. If you meet certain conditions, you can qualify for a reduction up to $1,500 on your federal income tax bill. The three tax incentive programs to review are:HOPE,
Lifetime Learning Credit and Florida Prepaid College Program.
HOPE: This tax credit applies to tuition and fee expenses for the first two years of a college education. Parents claim you as an exemption in order to qualify for this credit. You must be enrolled at least half time in school to qualify.
Lifetime Learning Credit:Up to $2,000 per. tax return can be claimed each year, for an unlimited number of years, and may be used for courses outside of a degree or certificate program. The amount of the credits is phased out for married couples filing jointly with modified adjusted gross incomes between $83,000 and $103,000.
Florida Prepaid College Program: With the Florida Prepaid College Program, you can lock in at a fixed price - today. It's guaranteed! The program is more affordable than you may think. You can use the plan at any public Florida university or community college, most private colleges in Florida, select technical schools and most out-of-state colleges. Go to www.florida529plans.com/prepaid/ for the current plan prices.
You can access the IRS publication 970 for additional information about the federal tax income credits at the attached website: http://www.irs.gov/newsroom/article/0,,id=213044,00.html.
The Florida Department of Education Office of Student Financial Assistance administers a variety of financial aid resources such as grants, loans, and scholarship programs. This is a short list of those opportunities. Please visit their website at http://www.floridastudentfinancialaid.org/or call 1-888-827-2004 for additional information and applications.
- Florida Bright Futures Scholarship Program - In 1997, the Florida Legislature created the Florida Bright Futures Scholarship Program. The Florida Lottery - Funded scholarship rewards students for their academic achievements during high school by providing funding for them to pursue postsecondary educational and career goals in Florida. To be considered, a student must submit a completed Florida Financial Aid Application during his/her last year of high school (after December 1st and prior to graduation).
- Florida Student Assistance Grant Program - is a need-based grant program, this program is available to students who attend state universities and public community colleges. Prospective students need to demonstrate financial need and are enrolled in participating postsecondary institutions.
- Talented Twenty Program - rewards high school students graduating in the top 20% of each senior class by guaranteeing them admission to one of the eleven state universities in Florida and by providing priority funding for the Florida Student Assistance Grant program.
- William L. Boyd, IV Florida Resident Access Program - provides tuition assistance to the Florida undergraduate students attending an eligible, private, non-profit Florida college or university. Each participating institution determines application deadlines and student eligibility.
- Jose Marti Scholarship Challenge Grant Program - this is a need-based merit scholarship that provides financial assistance to eligible students of Hispanic origin who will attend Florida public or private institutions.
- Scholarships for Children of Deceased or Disabled Veterans or Children of Servicemen Classified as Prisoners of War or Missing in Action - these scholarships are for dependent children of Florida veterans or servicemen who died from service-connected diseases or disabilities or have been verified by the Florida Dept. of Veterans' Affairs as having service-connected 100% total and permanent disabilities. Click on (link)above (www.floridastudentfinancialaid.org ) for further details about the residency and conflict eligible timeframe.
- Rosewood Family Scholarship - this scholarship was created to provide financial assistance for a maximum of twenty-five eligible minority students who attend a state university, public community college or public postsecondary vocational-technical school.
- Robert C. Byrd Scholarship Program - this program was established by the United States Congress to provide scholarships to outstanding high school graduates who show promise of continued academic achievement. This program is offered through the U.S. Department of Education and administered by OSFA - Office of Student Financial Assistance, Florida Department of Education.
- Mary McLeod Bethune Scholarship Program - this scholarship provides financial assistance to undergraduate students who meet scholastic requirements, demonstrate financial need, and attend Bethune-Cookman College, Edward Waters College, Florida A&M University, or Florida Memorial College. Available funds are contingent upon matching contributions from private sources on behalf of eligible institutions.
- Critical Teacher Shortage Student Loan Forgiveness Program - this program provides financial assistance to eligible Florida teachers for the repayment of undergraduate and graduate educational loans which led to certification in a critical teacher shortage subject area. The Critical Teacher Shortage areas for 2006-2007 are: Autism, Emotionally Handicapped, Hearing Impaired, Mentally Handicapped, Physically Impaired, Specific Learning Disabled, Speech and Language Impaired, Visually Impaired, English for Speakers of Other Languages, Exceptional Student Education, Foreign Languages, Industrial Arts-Technology Education, Mentally Handicapped, Middle and High School Level Mathematics, Middle and High School Level Science, Reading (degree only),and School Psychologists,
- Critical Teacher Shortage Tuition Reimbursement Program - this reimbursement program was created for the purpose of improving skills and knowledge of certified full-time publicly funded school employees currently teaching or preparing to teach in a PreK -12 critical teacher shortage area as approved by the State Board of Education.
- Florida Work Experience Program - (FWEP) is a need-based program providing eligible Florida students the opportunity to secure work experiences complimentary to the students' educational and career goals. Each participating institution determines application deadlines, student eligibility, and award amount.
- First Generation Matching Grant Program is a need based grant given to undergraduate students who are enrolled in a state university and whose parents have not earned a baccalaureate degree. Available state funds are contingent upon matching contributions from private sources on a dollar-for-dollar basis.
Additional Resources:
Websites:
http://www.florida529plans.com/ - Florida College Investment Plan and Florida College Prepaid Plan are described in detail on this site. You will find all the specific enrollment and savings information for the two options in the state of Florida for college savings.
http://www.collegeboard.com/splash - College Board site is complete with current information about SAT test preparation, test dates, other college board tests, how to plan for college and how to find a certain college you have interest in. There are steps to follow when applying to college and the site identifies available resources to assist in paying for college. Add this one to your favorites!
http://www.collegeview.com/ - College view is a site that has specific college campus tour information, a virtual college advisor, career center, college center, and a financial aid section. Check it out for more information!
http://www.fafsa.ed.gov/ - This is the direct link to the Federal Student Aid Application and process.
http://www.finaid.org/ - This is an award-winning site, which has grown into a comprehensive annotated collection of information about student financial aid on the web. The site was established in 1994 as a public service. Access to the site is free for all users.
Other Resources:
 Click Here to view: SAMPLE Student Aid Report from Mapping Your Future - http://mapping-your-future.org/ - a great resource for financial aid information and other related college preparation ideas.
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