IA Financial Aid Basics

For many students, financial aid can greatly affect their decision about whether or not to attend college, or which institution they attend. Because of its importance, the decision to apply for financial aid, and which programs to accept, should be made only with a complete understanding of the process, requirements, benefits, and responsibilities.

The University of Florida offers four types of financial aid—http://www.sfa.ufl.edu/types-of-aid/grants/http://www.sfa.ufl.edu/types-of-aid/grants/grants, http://www.sfa.ufl.edu/types-of-aid/scholarships/scholarships, http://www.sfa.ufl.edu/types-of-aid/loans/loans, and part-time http://www.sfa.ufl.edu/types-of-aid/employment/employment. Grants and scholarships are considered gift aid, as they do not have to be repaid. Loans by definition must be repaid. Student employment is offered in exchange for a service—work.

IA students should review SFA’s http://www.sfa.ufl.edu/process/how-to-apply-for-aid/How to Apply section of our website or our http://www.sfa.ufl.edu/resources/publications/Financial Aid Publications.

http://www.sfa.ufl.edu/cost/Cost of Attendance

Though the IA cost of attendance is adjusted to fit a Spring-Summer calendar, it is generally the same as that of traditional UF students. Tuition cost, for example, is the same. http://www.sfa.ufl.edu/cost/innovation-academy-costs/IA cost of attendance.

http://www.sfa.ufl.edu/types-of-aid/bright-futures/http://www.sfa.ufl.edu/types-of-aid/bright-futures/Florida Bright Futures

Returning Innovation Academy students will be eligible to receive their http://www.sfa.ufl.edu/types-of-aid/bright-futures/http://www.sfa.ufl.edu/types-of-aid/bright-futures/http://www.sfa.ufl.edu/types-of-aid/bright-futures/http://www.sfa.ufl.edu/types-of-aid/bright-futures/Bright Futures awards for the fall semester. Bright Futures Florida Academic Scholarship recipients will receive 100% of tuition and applicable fees. Bright Futures Florida Medallion Scholarship recipients will receive 75% of tuition and applicable fees.

Incoming Innovation Academy students are not degree-seeking until their first spring semester. Therefore, they are ineligible to receive Bright Futures Scholarship funds in the fall semester prior to their first spring semester. For example, an incoming 2021-22 IA student is not degree-seeking until spring 2022 and would not be eligible to receive Bright Futures Scholarship funds in the fall 2021 semester. The first fall semester they would be eligible for Bright Futures Scholarship funds would be fall 2022 assuming no changes to legislation that governs the Bright Futures Scholarship program.

http://www.sfa.ufl.edu/cost/how-need-is-determined/4/http://www.sfa.ufl.edu/cost/how-need-is-determined/4/How Need Is Determined

The analysis of an IA student’s financial need is the same as that of a non-IA student. More details are available, http://www.sfa.ufl.edu/cost/how-need-is-determined/4/http://www.sfa.ufl.edu/cost/how-need-is-determined/4/How need is determined.

Further IA Information

When to Apply for IA Financial Aid

Although you must be accepted for enrollment at UF before you are considered for financial aid, you should apply for aid before being admitted. Complete the 2020-21 FAFSA at https://studentaid.gov/fafsastudentaid.gov. You can file a 2020-21 FAFSA as early as October 1, 2019. 

In order for us to consider you for a financial aid package, you must be a degree seeking admitted student.

All IA students are encouraged to file a FAFSA as early as possible. SFA’s website features a section of http://www.sfa.ufl.edu/process/how-to-apply-for-aid/fafsa-tips/tips for students (and parents) filling out the FAFSA for the first time.

If you are notified by our office that you have been selected for http://www.sfa.ufl.edu/process/verification/verification, submit all requested documents as soon as possible to avoid any delay in the disbursement of your financial aid funds.

Financial aid offers will be made in early spring.

Some student-aid programs are may be limited to two semesters in an academic year. Because the spring and summer semesters are the two primary academic terms for the IA program, financial aid funding options may be limited or unavailable in the fall semester. If you pursue fall coursework at another college or university, please be careful about accepting financial aid as it may reduce or remove your IA financial aid eligibility in the summer.

Who Should Apply for Aid?

All students who think they need financial assistance should apply. The only way to tell if you’re eligible to receive aid is to apply. Many factors are taken into account when awarding aid. Currently, more than seventy percent of students at UF receive some form of financial assistance.

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Who is Eligible to Apply?

For most financial aid programs at UF, you must:

  1. Be a U. S. citizen, national, or permanent resident alien.
  2. Be enrolled or accepted for enrollment at least half time in a degree program. Exception: Federal http://www.sfa.ufl.edu/types-of-aid/grants/http://www.sfa.ufl.edu/types-of-aid/grants/Pell Grants. Complete http://www.sfa.ufl.edu/process/receiving-your-aid/enrollment-requirements/enrollment requirements information is available.
  3. Make satisfactory http://www.sfa.ufl.edu/process/additional-information/satisfactory-academic-progress-policy/academic progress toward a degree.
  4. Register with the Selective Service Administration, if required to do so.
  5. Not be in default on a federal or institutional loan or owe a repayment on a previous financial aid award received at UF or other institution.

Some http://www.sfa.ufl.edu/types-of-aid/programs will list additional eligibility requirements.
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