SFA Spring 2018 Newsletter

Welcome to the online version of the Spring 2018-19 issue of NEWS: Financial Aid for Gators — a publication produced once a semester to keep students informed of important developments in financial aid.

Featured in this issue:

#S18QuestionsGet Answers to Your Financial Aid Questions
#S18BFFlorida Bright Futures Renewal Requirements
#S18abroadInformation and Financial Aid Assistance for Study Abroad
#S18eligibleStay Eligible for Financial Aid
#S18consumerConsumer Information
#S18creditLearn More About Credit Scores
#S18loansManage Your Student Loans
#S18applyApply for 2018-19 Financial Aid
#S18moreand additional SFA information

Have financial aid questions or need additional information?

The quickest way to get assistance with your financial aid is to submit your request online at http://www.sfa.ufl.edu/help/http://www.sfa.ufl.edu/help/http://www.sfa.ufl.edu/help/www.sfa.ufl.edu/help.

http://www.sfa.ufl.edu/help/http://www.sfa.ufl.edu/help/http://www.sfa.ufl.edu/help/Graphic for Help

Undergraduate and graduate students may request additional information or ask financial aid questions:

Undergraduate students enrolled in UF Online can get assistance with financial aid:

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Florida Bright Futures Renewal Requirements

All Bright Futures recipients are required to meet minimum credit hour and GPA requirements in order to renew their award each year. Students enrolled full time for both semesters are required to earn at least 24 semester hours in order to renew their award at the end of each academic year.  For students not enrolled full time for both semesters, the hours required to renew are prorated.

Students who do NOT earn the credit hours for which they were funded by the end of the evaluation period will be TERMINATED from the scholarship program.

Students who do NOT earn their program’s required GPA at the end of their first evaluation period will be permitted a one-time restoration opportunity.  Traditional students receiving funding during fall/spring will be permitted a one-time summer opportunity. Innovation Academy students receiving funding during spring/summer will be permitted a one-time fall opportunity.

Bright Futures  Renewal Predictor

Determining exactly how many hours you will need to renew your particular Bright Futures award can be confusing. SFA has created a http://www.sfa.ufl.edu/programs/bright-futures/renewal/Renewal Predictor to aid you in determining your individual renewal requirements.

For more information, students should contact the FDOE Office of Student Financial Assistance at 1-888-827-2004. http://www.floridastudentfinancialaid.org/www.floridastudentfinancialaid.org

Florida Bright Futures Repayment Policy

Students will be required to repay their award hours for any course dropped or withdrawn after the drop-add period.

Hours repaid for dropped or withdrawn courses are added back to the student’s total semester hours available, and are not included in the student’s total credit hours required to renew the award.

Repayment for the cost of dropped or withdrawn award hours is required to renew a Bright Futures award for the subsequent academic year.

Nonpayment of dropped or withdrawn Bright Futures award hours may also negatively affect renewal eligibility for other state programs.

Bright Futures renewal requirements

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Information and Financial Aid Assistance Available for Study Abroad

Student Financial Affairs has a Study Abroad financial aid coordinator who is dedicated to advising students on financial aid matters for their overseas studies. For assistance with financial aid for Study Abroad, contact Allison Costa in S-107 Criser Hall, via phone at 352-294-3228 and email at mailto:allisoncosta@ufl.eduallisoncosta@ufl.edu. Students can also submit a request online at http://www.sfa.ufl.edu/help/http://www.sfa.ufl.edu/help/http://www.sfa.ufl.edu/help/www.sfa.ufl.edu/help.

Information on financial aid for Study Abroad programs is also available on the http://www.sfa.ufl.edu/additional/study-abroad/ SFA Study Abroad webpage.

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Stay Eligible for Financial Aid

You need to make satisfactory academic progress in order to continue receiving federal student aid. In other words, you have to make good enough grades, and complete enough classes (credits, hours, etc.), to keep moving toward successfully completing your degree.

Students who fail to meet the following criteria will be ineligible for federal, state, and/or institutional scholarship and grant funds:

  • maintain the required cumulative grade point average,
  • successfully complete the required percentage of attempted coursework,
  • complete their program of study within the prescribed length of time.

Read about the quantitative and qualitative components you must meet to maintain your eligibility for financial aid on SFA’s http://www.sfa.ufl.edu/process/additional-information/satisfactory-academic-progress-policy/Satisfactory Academic Progress webpage.

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Consumer Information

The University of Florida is committed to providing important information to its students, faculty and staff. Consistent with this commitment and pursuant to the university’s notice and reporting obligations under various laws, additional information can be found on the UF https://student.ufl.edu/consumerinfo.htmlconsumer information webpage.

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Learn More About Credit Scores

Students should be familiar with credit scores. Your credit score is a three-digit number that has a long-lasting effect on your buying power. When you apply for credit, your credit score will be checked. The higher your credit score, the better the chances you will be approved.

Although there are several scoring methods, the most widely accepted one comes from FICO. Your FICO score ranges from 300 to 850. These items make up your FICO score:

35 percent is based on your payment history. Early payments will have a higher number than on-time payments, which will have a higher score than late payments.

30 percent is based on outstanding debt. This outstanding debt is how much you owe on car loans, mortgages, credit cards, etc. The number of credit cards you have and if those cards are near the maximum borrowing limit will hurt your score.

15 percent is based on the length of time you have had credit. The longer you have been borrowing money and paying it back in a timely manner, the better your score.

10 percent is based on new credit. If you have opened several new accounts, that will have a negative effect on your score. Also, the more inquiries on your credit report in a year, the lower your score.

10 percent is based on the types of credit you currently have. It helps to have a mix of loan types. If you have a credit card, an installment loan will even the credit out.

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Manage Your Student Loans

Did you know that you can manage and monitor your student loans while in school?

http://www.iontuition.comhttp://www.iontuition.comIontuition is a free resource for students to manage and monitor federal and private student loans. Take control of your student loans and improve your financial knowledge with your FREE iontuition account.

Visit http://www.iontuition.comhttp://www.iontuition.comwww.iontuition.com today to find out more.

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If you haven’t already filled out the 2018-19 FAFSA, do it today!

The 2018-19 https://studentaid.gov/fafsaFAFSA launched on October 1, 2017.   UF’s “On-Time” deadline was December 15, 2017, but you can still file a FAFSA at studentaid.gov. Complete the FAFSA as soon as possible to be considered for the most and best aid.

Have questions or need help? Get free assistance at studentaid.gov or 1-800-433-3243 or visit with your Student Financial Affairs financial aid adviser.

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Visit the http://www.sfa.ufl.edu/resources/calendar/SFA Calendar for important date and deadlines.

Contact information for your financial aid adviser is available on http://www.sfa.ufl.edu/contact-sfa/http://www.sfa.ufl.edu/contact-sfa/http://www.sfa.ufl.edu/contact-sfa/SFA’s Contacts webpage.

Spring 2018 SFA News

The Spring 2018 issue of NEWS: Financial Aid for Gators — is available in http://www.sfa.ufl.edu/pub/news/1718SpringNews_email.pdfPDF format for Spring 2018.

NEWS: Financial Aid for Gators is produced once a semester by the Information/Publication Services section of the Office for Student Financial Affairs, to inform students about financial aid programs and services that help UF students meet educational costs.

Director:     Rick Wilder
Editor:     Sharon Eyman

NEWS: Financial Aid for Gators is available in other formats for students with documented, print-related disabilities. Students who are speech- or hearing-impaired can contact the Florida Relay Service. Dial 711 or 1-800-955-8771(TTY) http://www.ftri.org/FloridaRelayhttp://www.ftri.org/FloridaRelay

The University of Florida is committed to equal treatment of students without regard to race, creed, color, religion, age, disability, sex, sexual orientation, marital status, national origin, political opinions or affiliations, or veteran status.

http://www.sfa.ufl.edu/contact-sfa/http://www.sfa.ufl.edu/contact-sfa/http://www.sfa.ufl.edu/contact-sfa/Contact SFA
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