Maximizing Financial Aid for Florida’s Private Colleges

by

Chancellor

Opening Thoughts

Florida’s private colleges, such as the University of Miami, Rollins College, and Stetson University, offer outstanding educational opportunities, but often come with higher tuition costs. Fortunately, a range of financial aid options is available to help make attending these institutions more affordable. This guide will explore federal, state, and institutional aid programs, along with tips to maximize your financial aid at Florida’s private colleges.

Federal Financial Aid Programs

Completing the Free Application for Federal Student Aid (FAFSA) is essential for accessing federal aid programs:

•   Pell Grants: A need-based grant that does not require repayment, providing essential support for low-income students.
•   Federal Work-Study: Offers part-time employment opportunities on or off campus, allowing students to earn money to help cover college expenses.
•   Federal Student Loans: Low-interest subsidized and unsubsidized loans that can help bridge the gap between your available aid and total college costs.

Pro Tip: Submit your FAFSA as early as possible after it opens on October 1st to maximize your eligibility for federal, state, and institutional aid.

State-Specific Financial Aid in Florida

Florida offers several state-funded programs that can be used at private institutions:

  1. Florida Resident Access Grant (FRAG)

The FRAG provides tuition assistance to Florida residents attending eligible private, non-profit colleges or universities.

•   Eligibility: Must be a Florida resident enrolled full-time in an undergraduate program at an eligible private institution.
•   Award Amount: Varies depending on state funding, with awards typically ranging from $1,000 to $2,500 per academic year.
  1. Florida Bright Futures Scholarship Program

The Bright Futures Scholarship is not limited to public universities and can also be used at private colleges in Florida.

•   Eligibility: Must meet specific GPA, SAT/ACT scores, and community service requirements.
•   Award Amount: The award amount for private institutions is based on a set rate per credit hour. For example, the Florida Academic Scholars (FAS) receive $211 per credit hour, while the Florida Medallion Scholars (FMS) receive $158 per credit hour.
  1. EASE (Effective Access to Student Education) Grant

The EASE Grant is designed to provide tuition assistance to full-time undergraduate students attending Florida’s private colleges.

•   Eligibility: Must be a Florida resident enrolled in an undergraduate program at an eligible private college.
•   Award Amount: Varies based on state funding, with recent awards averaging around $2,000 to $3,500 per year.

Institutional Scholarships and Grants

Private colleges in Florida offer a variety of scholarships and grants to students based on academic merit, financial need, and other criteria:

•   University of Miami: Provides scholarships like the President’s Scholarship and Canes Achievement Award for students who demonstrate strong academic and extracurricular achievements.
•   Rollins College: Offers the Alfond Scholars Program, a highly competitive full-tuition scholarship, and need-based grants for students with financial challenges.
•   Stetson University: Provides scholarships such as the J. Ollie Edmunds Distinguished Scholarship and Stetson Merit Scholarships to high-performing students.

Tip: Check each college’s financial aid website for details on available scholarships, grants, and deadlines to maximize your aid opportunities.

Tips to Maximize Financial Aid

•   Search for Private Scholarships: Many local and national organizations offer scholarships specifically for students attending private colleges in Florida. Use resources like Fastweb and Scholarships.com to find and apply for scholarships that fit your profile.
•   Negotiate with Financial Aid Offices: If you receive a more favorable financial aid package from another institution, some private colleges may be willing to reconsider and adjust your aid package. Contact the financial aid office to discuss your options.
•   Maintain Academic Excellence: Many institutional scholarships are merit-based, so keeping a high GPA and strong academic record is crucial for maximizing your aid.

Relevant Links/Sources:

•   Federal Student Aid - FAFSA
•   Florida Bright Futures Scholarship Program
•   University of Miami Financial Aid

Navigating Financial Aid for Florida’s Public University System