Financial Aid Basics (1)
What is 2024-20245 Enrollment intensity?
What is changes enrollment changes for 2024-2025: The percentage of full-time enrollment at which a student is enrolled, rounded to the nearest whole percent.
For example, if full-time enrollment is 12 credit hours and the student is enrolled in 7 hours, the enrollment intensity would be 7 ÷ 12 × 100% = 58.3% (round to 58%).
U.S. Department of Education (.gov)
The amount of credits a student must be enrolled in to be considered full time financial aid eligible for 2023-2024?
What is 12 semester credits?
The median monthly income you can earn with an associates degree
What is $3,861 Monthly Pay.
This is the amount you may be reimbursed for by an employer that offers Employer-pad Tuition Assistance
What is $5,250
What males ages 18-25 must register for but it is no longer required for federal aid?
What is the selective service?
Males don't need to sign up for the Selective Service to receive financial aid, but registering for it is still required for men between the ages of 18 and 25.
What must you do to continue receiving federal student aid?
What is make Satisfactory Academic Progress in college or career school.
Three components:
Qualitative -GPA,
Quantitative- Completion rate of attempted credits, Maximum Time Frame -Degree completion within 150% of length of program.
The 4 types of degrees you can earn at a 4-year college & university
What is bachelors, Masters, Doctorate and Professional
This is the cost of attendance at a State University and living on campus
What is $20,409 With Parent/Relative and $33,105 Off Campus $33,105?
This is an institutional award for students that demonstrate additional financial need and can provide $100-$4,000 in additional funds above and beyond for FL State & Pell Grants and do not need to be repaid.
What is the Federal Supplemental Educational Opportunity Grant (SEOG)
This is the combination of a families income and net worth used to determine financial aid eligibility
What is EFC for 2023-2024?
(Expected Family Contribution) will be replaced with the Student Aid Index (SAI)
– this is a new need analysis formula that we will use when awarding need-based grants and scholarships.
The monthly repayment amount for a student who has borrowed $20,000 in loans
What is $212?
Example, you borrow $20,000 in student loans with an interest rate of 5%. Your monthly payment on a standard 10-year term would be $212. By the end of the loan, you'll have paid $5,456 in interest.
The median weekly income for someone who earns only a high school diploma
What is $853?
What Florida Residents can apply for when attending colleges in Florida?
What is tuition reciprocity?
Instate Tuition Cost.
a community service opportunity available for students to help finance part of their education.
What is AmeriCorps?
most AmeriCorps members receive a modest living allowance during their service term. AmeriCorps NCCC and FEMA Corps Members receive a modest living allowance that equals roughly $180 every two weeks, before taxes (approximately $4000 for a 10-month Traditional Corps term, or $4800 for a 12-month FEMA Corps term.)
The measurement of the percentage of first-time, freshmen undergraduates who continue to enroll in the following academic year. , full time student return to that same college in known as the __________________ rate
What is retention rate?