Florida’s Financial Aid Programs Want Students’ Futures To Be Bright

For some students and families, public colleges and universities are a given. They’ve either stowed away money as part of savings plans that allows them to attend public colleges and universities in the states where they live. Or perhaps, their study pursuits involve research in which many public institutions excel. Because public colleges and universities are also among the least expensive four-year options when it comes to higher education, these options might even be free to nearly free once grants and scholarships are taken into account.Public colleges and universities charged reduced, or “in-state,” rates in instances where students reside within the state where the institutions are located. The average in-state public college and university tuition rate per year, according to the non-profit College Board, is around $7,200, including fees. Florida on this nationwide scale ranks 48th, with its public institutions charging in-state rates of $4,886 annually, according to information on the state education website. Scholarships aside, Florida residents qualifying for the federal government’s maximum Pell Grant allowance of more than $5,000 per year, could, depending upon the Florida college or university, potentially attend a state school tuition-free.Students and families in Florida have opportunities in February to learn more about scholarships, grants and other forms of financial aid as well as about what Florida colleges and universities have to offer them socially, academically, in terms of job placement assistance and more. Florida college and university representatives are to be available during a 3 to 5 p.m., Saturday, Feb. 19, “Annual Florida College Day” at Broward County’s West Regional Library (8601 W. Broward Blvd., Fort Lauderdale). On Sunday, Feb. 20, a “College Goal Sunday” that’s part of a nationwide event is planned for 2 to 5 p.m., at 46 locations throughout the state as a means of specifically helping students and families obtain scholarships, grants and other forms of financial aid by providing them guidance with completing a Free Application for Federal Student Aid (FAFSA).Students and families don’t have to be considered low-income in order to receive scholarships, grants and other forms of financial aid. The state of Florida, like others throughout the country, offers its high school graduates opportunities to vie for Lottery-funded scholarships designed to reward students for their academic achievements. These scholarships in Florida are known as Florida Bright Futures Scholarships, and they come in three different types: Florida Academic Scholars awards, which include Academic Top Scholars awards, Florida Medallion Scholars awards and Florida Gold Seal Vocational Scholars awards. Students must meet certain requirements as far as minimum grade point averages and SAT/ACT test scores as well as specific coursework as part of Bright Futures Scholarship requirements.Bright Futures Scholarships are intended for public colleges and universities and, depending upon the public institution that a student wants to attend, they might not cover all of a student’s tuition costs. As of the 2010-2011 academic year, Bright Futures scholarships extended to as much as $125 per academic credit hour (for Florida Academic Scholars). The per credit hour cost at a four-year public university in Gainesville that same semester is $168 including fees for in-state students (as compared with $911 for out-of-state students). At a university in Miami, which offers some programs under contract with the state, the out-of-state rate is $1,538 per credit hour, not including fees, and resident students can determine in-state rates by contacting individual colleges and schools that might offer these programs.In addition to federal and state government scholarships and grants, Florida students can apply for scholarships and grants provided by large corporations, non-profit foundations, professional associations and community and civic groups and churches. Florida students also have opportunities to participate in free college courses in high school that might save them a year or more of college and university tuition. There are other opportunities that Florida offers as a means of helping students to pay for tuition at public colleges and universities in the state.These opportunities are known as prepaid savings plans, and they are tax free, meaning that students and families don’t pay interest on the money they put away. There are two prepaid savings plans in Florida – a Florida Prepaid College Plan and a Florida College Investment Plan. Money is invested differently with each of these plans, and students and families might have different restrictions with regard to where and how the money from the plans is invested. Florida also offers grants to first-generation college and university resident students who have substantial financial needs for participating in undergraduate studies. Students can be eligible non-US citizens in order to qualify for the First Generation Matching Grant Program, as it’s known.