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/Bright Futures awards in the fall semester. Florida Academic level recipients will receive 100% of tuition and applicable fees, plus a $300 educational expense stipend. Florida Medallion level recipients will receive 75% of tuition and applicable fees, but will not receive the $300 educational expense stipend.

Incoming Innovation Academy students are not degree-seeking until their first spring semester and are therefore ineligible to receive Bright Futures in the fall semester prior to their first spring. For example, an incoming 2018-19 IA student is not degree-seeking until spring 2019 and would not be eligible to receive Bright Futures in the fall 2018 semester. The first fall semester they would be eligible for Bright Futures would be fall 2019, assuming no changes in legislation.

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://fafsa.ed.gov/fafsa.ed.gov. You can file a 2020-21 FAFSA as early as October 1, 2019. UF’s 2020-21 “On-Time” deadline to receive the results of your FAFSA from the federal processor is December 15, 2019.  Apply well before December 15 to ensure that the federal processor has time to analyze and send the results of your FAFSA to our office. Financial aid is awarded on a first come, first served basis so apply as early as possible to be considered for the most, and best aid.

For IA students, it’s critical to understand that they must meet the same financial aid deadlines as non-IA students, despite the difference in academic calendars. This means that a student hoping to join the Innovation Academy beginning in January of 2021 must meet UF’s December 15, 2019 deadline in order to receive the most, and best, aid for the 20-21 academic year.  In order for us to consider you for a financial aid package, you must be an admitted student and have met the “On-Time” deadline.

Joining IA in Apply for Aid before*
Spring of 2019 December 15, 2017
Spring of 2020 December 15, 2018
Spring of 2021 December 15, 2019

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.

*Apply several weeks earlier than the “On-Time” deadline to ensure that UF has time to process the results of your FAFSA. Financial aid award 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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