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Financial Aid. FACT 70% of college bound students apply for financial aid (submit a FAFSA) 80% of FAFSA filers take advantage of student loan opportunities to help finance their education. Cost of Attendance. Tuition and fees Room and board

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Financial Aid


  • 70% of college bound students apply for financial aid (submit a FAFSA)

  • 80% of FAFSA filers take advantage of student loan opportunities to help finance their education

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Cost of Attendance

Tuition and fees

Room and board

Books and supplies, equipment, transportation, and miscellaneous personal expenses

Loan fees

Other educational expenses

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Cost of Attendance


Engineering/Science: $29,940

Aeronautics/Business/Psychology: $27,280


Facilities: $500

Flight Training (flight students only): pay as you go

Room and Board: $8,810 - $10,250

Books (estimate): $1,200

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Definition of Need

Cost of Attendance (COA)

– Expected Family Contribution (EFC)

= Financial Need

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Types of Assistance





Student loans

Parent loans

Work study

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3 Categories of Assistance

Merit-based (scholarships)

Need-based (grants, loans, work study)

Incentive Awards (grants, scholarships)

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Sources of Assistance

College/University (scholarships, grants)

The state of Florida (scholarships, grants)

The federal government (grants, loans, work study)

Private organizations (scholarships, grants, loans)

Personal funds

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Florida Tech Scholarships

  • Florida Tech Merit Scholarships

    • Range from $5,000 to $19,000 annually

    • Based on GPA and SAT or ACT (starting 3.0/GPA, 1100/SAT)

  • Florida Tech Athletic Scholarships (NCAA DIV II)

    • Full cost of attendance or partial

    • Determined at the discretion of the athletic coach

  • Florida Tech Army ROTC Scholarships

    • Army pays 100% of tuition, book stipend, monthly spending money

    • Florida Tech supplements with a grant to cover room and board

  • Florida Tech Transfer Scholarships

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Florida Tech Specialty Scholarships

  • International Science and Engineering Fair (ISEF) Scholarships

    • Minimum $12,500 per year guaranteed

    • Awarded by faculty to participants at the INTEL ISEF international fair

    • Mutually exclusive from other merit scholarships

  • FIRST Robotics Scholarships

    • $3,000 per year in addition to any other merit scholarship

    • Must verify participation during their senior year of high school

  • Phi Theta Kappa Scholarships (Comm. Coll.)

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Florida Tech Grants

Visit Grant - $500

FAFSA Early Filer Grant - $1,000 per year

Alumni Endorsement Grant - $1,000 per year

Legacy Grant - $2,500 per year

“Keep it in the family” Grant - $2,500 per year

Florida Tech need based grant - Varies

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Florida State Assistance

  • Bright Futures PublicPrivate

    • Medallion/Gold Seal Scholars - 75% (CC-100%) ($2,824)

    • Academic Scholars - 100% ($4,138)

  • Florida Resident Access Grant - ($2,837)

  • Florida Student Assistance Grant - $1,500

  • Florida Pre-paid College Plan – Amount based on terms of agreement. (accumulated funds can be applied towards expenses at most private universities)

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Federal Financial Assistance

  • Grants (need based, EFC < $4,041)

    • PELL – ranges from $100 up to $4,731

    • FSEOG - $1,200

    • ACG (Freshmen/Sophomore) - $750/$1,300

    • SMART (Junior/Senior) - $4,000

  • Student Loans

    • Stafford ($5,500/$6,500/$7,500)

  • Parent Loans – PLUS (up to full cost of college)

  • Work Study - $1,500 per year (spending money)

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Federal Pell Grant Program

  • Awarded to eligible undergraduates pursuing first baccalaureate or professional degree

  • Portable

  • Actual award amount based on Cost of Attendance, enrollment status, and Expected Family Contribution (EFC) must be less than $4,042

  • Students with EFC less than $4,042 now have four federal programs to help them pay for their education

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Federal Supplemental Educational Opportunity Grant (FSEOG)

  • Eligible students

    • Undergraduates pursuing first baccalaureate or professional degree

    • Awarded first to students with exceptional financial need (i.e., students with the lowest EFCs at that school)

    • Priority to Federal Pell Grant recipients

  • Annual award amounts

    • $100 minimum

    • $4,000 maximum

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Academic Competitive Grant

  • 1st and 2nd year Pell Eligible students

  • Must be US citizen

  • Must have completed “rigorous” high school curriculum

  • 1st award is $750

  • 2nd award is $1300 – Must have 3.0 Cumulative GPA to be eligible for 2nd year award

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National SMART Grant

National Science and Mathematics Access to Retain Talent Grant

  • $4,000 for Pell Eligible Juniors and Seniors in certain majors

  • Must be US Citizen

  • Must have Cumulative GPA of 3.0

  • Targeted for most majors at Florida Tech

  • List of eligible majors -

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Federal Work-Study

  • Undergraduate or graduate students are eligible

  • Employment can be on or off campus

  • Eligible employers

    • School

    • Federal, state, or local public agency

    • Private non-profit organization

    • For-profit organization

    • Community service activities

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Federal Stafford Loans(Subsidized and Unsubsidized)

  • Annual loan limits

    • $3,500 Sub + $2000 Un-sub (freshman)

    • $4,500 + $2000 Un-sub (sophomore)

    • $5,500 + $2000 Un-sub (upper-classman)

    • $8,500 (each year of graduate/professional study)

  • Subsidized Stafford: Must demonstrate “need”

  • Unsubsidized Stafford: Need is not a consideration

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Federal PLUS Loan

  • Borrowers are parents of dependent undergraduate students

  • Annual loan limit; cost of attendance minus other aid

  • Interest rate is now fixed 8.5%

  • 3% Origination fee and 1% default fee;

  • Repayment begins 60 days after disbursement;

  • Deferment provisions; only for principal but interest may be capitalized

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Costs of Borrowing Federal Stafford Loan

  • Fixed Interest Rate

    6.0% Sub

    6.8% Un Sub

  • Fees: 1% Origination Fee and 1% Default Fee

  • Repayment begins 6 months after graduation

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Sample Gift Assistance

Gift Assistance Merit and Incentive(Average): AcademicNon-Florida Resident

Florida Tech Scholarships and Grants (AVG) - $12,500 $12,500

Bright Futures Scholar - $4,138

Florida Resident Access Grant - $2,837 _______

Total -$19,475$12,500

Gift Assistance Need Based (EFC = 0)

FSAG - $1,500

Pell Grant - $4,731 $4,731

FSEOG - $1,200 $1,200

ACG - $750 $750

Total -$8,181 $6,681

Total Gift Aid -$27,656 $19,181

(Medallion $26,342)


Engineering/Science: $29,940

Aeronautics/Business/Psychology: $27,280

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Possible Assistance Packages


Gift Assistance (example) $27,656 $19,181

Self Help Assistance

Student Loans $5,500 $5,500

Work Study $1,500$1,500

Total -$34,656 $26,181


Engineering/Science: $40,450

Aeronautics/Business/Psychology: $37,790

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Role of the Financial Aid Office

  • Determines eligibility for financial aid

  • Packages aid

  • Sends an award notification which details:

    • Student’s cost of attendance

    • Amount of student’s financial “need”

    • Types and amounts of aid offered

    • How and when aid will be disbursed

    • Student employment conditions

    • Terms and conditions of aid offer

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General Eligibility Requirements

Must be enrolled/accepted in an eligible program of study

Must be pursuing a degree, certificate, or other recognized credential

Must be a U.S. citizen or eligible noncitizen

Must be registered with Selective Service (if male)

Must not have eligibility suspended or terminated due to a drug-related conviction

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General Eligibility Requirements (continued)

Must have a valid Social Security Number

Must not be in default on a federal student loan

Must not owe repayment of a federal grant

Must maintain satisfactory academic progress as defined by the higher education institution

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How to Apply for Financial Aid

  • Application for admission

  • Scholarship application (college, private)

  • Bright Futures application

  • Free Application for Federal Student Aid (FAFSA)

    • FAFSA on the Web at:

  • Loan applications (promissory notes)

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Where Do I Go From Here?

Review school’s materials for aid application, deadline information and complete FAFSA

Investigate other sources of aid

University grants/scholarships/loans

State grants/scholarships/loans

Private scholarships

Academic scholarships

Army ROTC Scholarships

Athletic scholarships

Resident Assistant benefits

Tuition remission

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Financial Aid Resources

  • Bright Futures Scholarships -

  • Federal Financial Aid (Grants, Student Loans, Work Study) –

  • Individual College Websites (i.e.

  • FastWeb –

  • College/University Financial Aid Office

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“If you think education is expensive, wait till you see what ignorance costs you.”

John M. Capozzi