2008–2009 - Florida Institute of Technology

loans provide $3,500 in the first year, $4,500 in the second year
and $5,500 in the final two years, with an aggregate of $23,000
for undergraduate study.
Unsubsidized Federal Stafford Loan: The unsubsidized Stafford
loan is for independent students who may be eligible for an additional
$23,000 in unsubsidized loans. A dependent student may
also be eligible for an additional unsubsidized loan, if the PLUS
(see below) is denied.
Parent Loans for Undergraduate Students (PLUS): The Federal
PLUS Loan can be borrowed by parents of dependent undergraduate
students to help pay for their child’s education. The
Federal PLUS Loan is not based on financial need. The amount
borrowed each year is limited to the cost of attendance less other
forms of assistance.
Federal Work-Study: This program provides part-time jobs for
students who need financial assistance. Jobs are available both on
and off campus. Students receive paychecks to help with personal
expenses for an average award of $1,500 per year.
Pell Grants: This need-based award amount varies and can be
granted up to $4,050 per year. The award amount is directly
related to the student’s expected family contribution as determined
by the FAFSA form and the student’s enrollment status
(full time, 3/4 time, half time or less than half time).
Federal Supplemental Education Opportunity Grants: Grants
through this federal program are available to a limited number of
students who demonstrate exceptional financial need. Priority is
given to students with the greatest need. The average award per
year is $1,200.
Federal Academic Competitiveness Grant (ACG): This federal
grant is for full-time, undergraduate, Pell Grant-eligible U.S.
citizens who have completed a rigorous high school curriculum
and are in their first two years of study. ACG grants are $750 for
first-year students and $1,300 for second-year students with a
cumulative grade point average of 3.0.
National Science and Mathematics Access to Retain Talent
Grant (SMART): This federal grant is for full-time undergraduate
juniors and seniors. Eligible students must be Pell
Grant-eligible U.S. citizens with a cumulative grade point average
of 3.0 or higher. Students must maintain their 3.0 GPA and be
registered in select majors. Please see the financial aid Web page
for a complete list of eligible majors.
Florida State Financial Aid Programs
Florida residency and eligibility for Florida state aid programs are
based on state law and administrative rules. Generally, students
whose families have been living in Florida for 12 months before
the start of the school year are considered residents. The following
programs are only available to Florida residents who are
citizens or permanent residents of the United States.
Florida Resident Access Grant (FRAG): All full-time undergraduate
students who meet the Florida residency requirements
are eligible to receive this financial assistance from the state.
This amount varies from year to year, based on available state
funds. Currently, FRAG awards are $3,000 per year.
Florida Student Assistance Grant (FSAG): Full-time undergraduate
students who meet the Florida residency requirements
and have extraordinary financial need, are eligible to receive this
financial assistance from the state. Grants approximate $1,200
per year, based on demonstrated financial need.
Florida Prepaid College Plan (FPCP): Florida Tech is an
eligible institution for the FPCP program. Accumulated funds
may be applied toward expenses at Florida Tech. Contact the
FPCP office at www.florida529plans.com/Prepaid/index.html for
further details on dispersal options.
Florida Academic Scholars Award: This award is valued at
approximately $4,000 per year. An additional $1,500 award is
provided to the top academic scholar in each school district and
developmental research school.
Florida Medallion Scholars and Florida Vocational Gold Seal
Awards: Each of these awards is valued at approximately $2,500
per year.
Additional State Financial Aid Programs
Delaware, Maryland, Michigan, Pennsylvania, Rhode Island
and Vermont Grants: For information on grant amounts from
these states, please contact your state’s Department of Higher
Education or the Florida Tech financial aid office.
Specialty Scholarships
Special scholarship consideration will be given to first-year
students with complete admission applications on file by
January 15 who are enrolled in NCSSSMST high schools (see
www.ncsssmst.org), are currently engaged with a FIRST Robotics
team at their high school, or are candidates for the United States
Army ROTC scholarships.
Any U.S. citizen or permanent U.S. resident admitted to the
university who has filed the Free Application for Federal Student
Aid (FAFSA) by March 1 will be eligible for an Early Filers Award
of $1,000 annually. Additional grants available regardless of need
include:
Florida Tech Legacy Grant: Sons and daughters of Florida
Tech alumni enrolling in a full-time undergraduate program are
eligible for a $2,500 grant. This award is renewable for up to four
years and is given in addition to any merit scholarship earned by
the student.
“Keep it in the Family” Grant: Sisters and brothers of students
who are simultaneously enrolled as full-time undergraduates are
eligible for a $2,500 grant. This grant is renewable for up to four
years and is given in addition to any merit scholarship earned
by the student. Both students, enrolled at the same time, will
receive this grant.
Florida Tech Alumni Endorsement Grant: Any graduate of
Florida Tech may apply on another student’s behalf and that
student can receive a $1,000 grant renewable annually for up to
four years. The form must be submitted by January 15. A student
may receive only one Alumni Endorsement Grant.
Florida Tech Campus Visit Travel Grant: Visitors to the campus
who apply and ultimately enroll will receive a $500 Campus Visit
Travel Grant upon enrollment to help defray the expense of the
campus visit.
Financial Overview 15