2012–2013 UNIVERSITY CATALOG - Florida Institute of Technology

students via their Florida Tech email. The awards are also
posted on the student’s PAWS account.
Major Federal Financial Aid Programs
The federal financial aid programs listed in this catalog are available
to any U.S. citizen or permanent U.S. resident who is admitted
to the university and has filed the FAFSA.
Federal Perkins Loan: This low-interest (five percent) loan is
dependent on availability of funds each year and must be repaid
to Florida Tech. This loan accrues no interest while the student
attends school or during the nine-month grace period.
Federal Direct Stafford Loan: Amounts may vary each year.
There are annual maximums dependent on need and the student’s
grade level (freshman, sophomore, junior, senior). Interest
does not accrue on subsidized Stafford loans while the student
is in school, during the six-month grace or authorized deferment
periods. Students are responsible for all interest that accrues on
the unsubsidized Stafford loan while in school, and during the
six-month grace period or authorized deferment period. Interest
may be deferred.
Federal Direct Parent Loans for Undergraduate Students
(PLUS): The Federal Direct 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.
Pell Grants: This need-based award amount varies and can
be granted each 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.
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.
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, depending on available
funding.
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 disbursement 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
Florida Tech Alumni Endorsement Grant: A graduate of
Florida Tech may submit the grant on behalf of a student for
$1,000, renewable annually for up to four years as long as the
student is enrolled full-time on the Melbourne campus.A student
may receive only one grant.
Florida Tech Legacy Grant: Sons and daughters of Florida Tech
alumni enrolling in a full-time undergraduate program on the
Melbourne campus are eligible for a $2,500 grant. This award is
renewable for up to four years. This award 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 currently enrolled simultaneously on the Melbourne
campus 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 Endorsement Grant: Applicants may receive this
grant if they have a graduate of Florida Tech, an EAA member
or a member of the Construction Industry Advisory Board
(CIAB) submit the grant form on their behalf. It is a $1,000
grant renewable annually for up to four years. The applicant
must be enrolled full time on the Melbourne campus. The application
for the grant appears on the admission application and
must be submitted by February 1. A student may receive only
one endorsement grant.
Florida Tech Visit Grant: Students who apply and enroll after a
visit to Florida Tech will receive a $1,000 Visit Grant renewable
for four years (a total of $4,000). The student must be admitted
to Florida Tech, a U.S. citizen or U.S. permanent resident and
enroll full time as an undergraduate on the Melbourne Campus.
Florida Tech Transfer Scholarship: Students may receive up
to $8,000 per year if the student’s cumulative GPA is 3.0 or
higher and the student has completed 24 transferable semester
credit hours at one or more other accredited institutions. This
scholarship is for students who have graduated from high school
and attended another college or university, and plan full-time
attendance in one of the Melbourne campus degree programs.
Financial Overview 17
fInancIal oVeRVIeW