Smiling Grads

Did you know that there are different types of financial aid?

University Scholarships and Grants

What is Florida Tech willing to invest in your undergraduate education? More than you may know. University aid comes in the form of merit-based academic Scholarships, Florida Tech Family Grants, and Need-Based Grants.

Florida Tech Scholarships are awarded at the time of admission. A student must be admitted and enroll as a full-time, degree-seeking undergraduate student at the main campus in Melbourne to utilize an awarded scholarship. The Scholarships below are available to domestic (U.S.) freshman unless otherwise indicated; and are listed separately.  Florida Resident Merit Scholarships and Academic Scholarships are mutually exclusive; they do not "stack" and cannot be combined. If a student qualifies for more than one of the scholarships below, the student will be offered the higher scholarship, but not the sum of two or more. Scholarships in an amount less than full tuition may, however, be combined with Incentive Scholarships, Florida Tech Family Grants, and Need-Based Grants.

Florida Tech scholarships and grants apply to tuition only unless otherwise noted, and can be combined with state and federal scholarship and grant programs.

Academic Scholarships

Panther Fund Merit Scholarship

All applicants will be considered for a Panther Fund Merit Scholarship. Academic, or merit scholarships, are based on an applicant's academic performance in high school (weighted GPA plus standardized test scores) and are determined at the time of admission. These scholarships are available to all domestic (U.S.) students, whether in-state or out-of-state.

Panther Fund NCSSS Scholarship

NCSSS high school graduates are eligible for a Panther Fund Scholarship if they are admitted and enroll full-time. Students must meet the minimum merit scholarship requirements and submit a complete admission application indicating attendance at an NCSSS high school.

Florida Resident Merit Scholarship

The following scholarships are available to students who are residents of Florida.  As stated above, Florida Resident Scholarships and Panther Academic Scholarships (see above) are mutually exclusive; they do not "stack" and cannot be combined. If a student qualifies for more than one of the scholarships below, the student will be offered the higher scholarship, but not the sum of two or more. Scholarships in an amount less than full tuition may, however, be combined with Incentive Scholarships, Florida Tech Family Grants, and Need-Based Grants.

Panther Distinguished Scholar Award

High school students who qualify for the Bright Futures Florida Academic Scholars (FAS) award are eligible to be considered for a Florida Tech Distinguished Scholar Award, a combination of scholarships and grants that covers full tuition plus the facilities and activities fees to attend Florida Tech.

The Florida Tech Distinguished Scholar Award is only available to first-time freshmen. To be considered, applicants must:

  • Complete the Florida Financial Aid Application while still in high school
  • Qualify for the Bright Futures Florida Academic Scholars award
  • Apply and be admitted to Florida Tech as a full-time, on-campus, degree-seeking student by February 1 of the year immediately preceding your first semester.
  • Complete and submit the Free Application for Federal Student Aid (FAFSA) listing Florida Tech as a receiving institution (financial aid code: 001469) by February 1 of the year immediately preceding your first semester.
  • Complete the Florida Tech Panther Distinguished Scholar application online by February 1st.
Farmer Scholars Programs

Annually, Florida Institute of Technology selects one exceptionally qualified student to receive a Farmer Scholarship, which includes full tuition, housing and meals, and fees.

Transfer Scholarships

Florida Tech is proud to be able to make substantial scholarship opportunities available to well-qualified transfer students.  

Florida Tech Transfer Scholarship

All transfer applicants are considered for a Florida Tech Transfer scholarship. This scholarship may be combined with the Florida Tech Phi Theta Kappa Scholarship.

Florida Tech Phi Theta Kappa Scholarship

An additional $2,500 per year if the student applies and is admitted to Florida Tech and was a member of Phi Theta Kappa. Proof of Phi Theta Kappa membership must be submitted at time of application.

Florida Tech Grants

Panther Fund Grant

The Panther Fund Grant is available to students who have a demonstrated financial need, as determined by the FAFSA. All applicants with a completed FAFSA will be considered for a Panther Fund Grant. Grant amounts are based on a student's EFC and other gift aid. As such, grant amounts are not fixed and may vary from year to year depending on variable data.

Brevard Boundless Opportunity Grant

The purpose of the Brevard Boundless Opportunity Grant is to make Florida Tech more accessible for high-achieving Brevard County students with unmet financial need.

The Brevard Boundless Opportunity Grant provides eligible Brevard County (Florida) students with additional funds in the amount of the difference between tuition and fees and the student's other gift assistance (including merit-based university and state scholarships). With this grant, an eligible Brevard County student who enrolls at Florida Tech will owe the university $0 for tuition and fees.

To receive this grant as part of a comprehensive financial aid package, a student must:

  • Reside in Brevard County, Florida
  • Complete the FAFSA and be Federal Pell Grant eligible
  • Qualify for the Florida Academic Scholarship or the Florida Medallion Scholarship (Bright Futures)
  • Apply and be admitted to Florida Tech by May 1
Legacy Grant
Sons and daughters of Florida Tech alumni, enrolling in a full-time undergraduate program at Florida Tech, are eligible for a $2,500 grant. This award is renewable for up to four years. This award is given in addition to any merit scholarship earned by the student.
Family Grant
Sisters and brothers of students who are currently enrolled simultaneously as full-time undergraduates at Florida Tech are eligible for a $2,500 grant. This grant is renewable for up to four years. This grant is given in addition to any merit scholarship earned by the student.

Incentive Scholarships

Participation in certain extracurricular programs makes you eligible for the following add-on scholarships.

FIRST Robotics & Vex Robotics Award

Current members of an official high school FIRST Robotics or Vex Robotics team will be awarded an additional $2,500 Panther Fund Scholarship per year if they are admitted and enroll full-time. Students must submit a letter from their FIRST team adviser verifying participation during the year of application prior to their admission to the university, and complete the admission and financial aid process by May 1st of their senior year in high school.

Scouting - Eagle Scout And Girl Scout Gold Award

Any new first-year student who has either earned the rank of Eagle Scout or achieved the Girl Scout Gold Award, and is accepted as a full-time undergraduate at Florida Tech’s Melbourne campus is guaranteed an additional scholarship of $2,500 Panther Fund Scholarship per year. Students must submit a copy of the certificate verifying their achievement prior to their admission to the university, and complete the admissions process by February 1 of the year immediately preceding their first semester.

Athletic Scholarships

Florida Tech competes in several NCAA Division II sports. For more information on athletic scholarships, please visit the Athletic Recruiting site.

Florida State Scholarships and Grants

Florida resident? You're in luck. Florida Tech works with the state to provide eligible students with Florida Bright Futures Scholarships and Florida State grants. You may also apply your Florida Prepaid College Plan savings to your Florida Tech education.

What You Need To Do

  • Apply for admission to Florida Tech.
  • Complete and file the FAFSA. Make sure to list Florida Tech's school code: 001469.
  • Consult your high school guidance counselor any time after November of your senior year to fill out the Florida Financial Aid Form.

Residency Requirements

The Florida Bright Futures Scholarship program is only available to Florida residents who have graduated from a Florida high school and are citizens or permanent residents of the United States. Florida residency and eligibility for the Florida Bright Futures Scholarship and the Effective Access to Student Education (EASE) grant are based on state law and administrative rules. Generally, students whose families have been living in Florida twelve (12) months prior to the start of the school year are considered residents. A full and complete description of rules and regulations regarding Bright Futures and other state aid can be found through the state's Office of Student Financial Assistance.

Florida State Scholarships

Bright Futures Academic Scholars

Eligible students receive approximately $6,360 (30 credits x $212/credit hour) per year. Eligible applicants must have a 3.5 high school GPA, a 1340 SAT or 29 ACT composite and 100 hours of community service.

Bright Futures Medallion Scholars

Eligible students receive approximately $4,770(30 credits x $159/credit hour) per year. Eligible applicants must have a 3.0 high school GPA and a 1210 SAT or 25 ACT composite and 75 hours of community service.

Effective Access to Student Education (formerly known as FRAG)

All full-time undergraduate students who meet the Florida residency requirements are eligible to receive this financial assistance from the state. The award amount varies from year to year and is based on available state funds; however, the amount awarded for 2023-2024 was $3,500. The state legislature will determine the amount for each academic year.

Florida Student Assistance Grant (FSAG) 

Grants are approximately $1,000 per year and are based on demonstrated financial need, as determined by the FAFSA application. 

Florida Prepaid College Plan

Florida Tech is an eligible institution for the Florida Prepaid College Plan (FPCP) program. Accumulated funds may be applied toward expenses at Florida Tech. Visit the FPCP office for further details. Visit for complete details.  To find out more about using FPCP at Florida Tech, visit Student Financial Services.

Other state Grant Programs

If you're home state is not Florida, you may still be eligible for state grant assistance. Visit State Financial Aid Programs to find out more information about state grant opportunities from your home state.

Federal Grants

Federal Grants include Federal Pell Grants and the Federal Supplemental Educational Opportunity Grants (FSEOG).  These grants are referred to as 'need-based grants,' because they are based on Financial Need, as determined by the FAFSA applications.  Grants do not need to be repaid, except under certain circumstances.

Federal Pell Grants

Federal Pell Grants are available to eligible undergraduate students in a degree-seeking program who have not yet earned a baccalaureate degree.  The Maximum annual Pell grant is appropriated by Congress and may change from one academic year to the next.  A student's SAI (expected family contribution), enrollment, Cost of Attendance and Lifetime Pell usage are all used to determine the amount of their Pell grant they are eligible for.

Students whose parent or guardian was a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11 may be eligible for additional Federal Pell Grant funds if, at the time of your parent’s or guardian’s death, the student was less than 24 years of age OR enrolled in college or career school at least part-time.

Federal Supplemental Educational Opportunity Grants (FSEOG)

FSEOG funds are awarded to students who are considered to have exceptional financial need, as determined by the FAFSA and fund availability.  Unlike the Pell grant, each participating school receives a certain amount of FSEOG funds each year.  Once the funds have been awarded to students, no more awards can be made for that year.

Federal Loans

A loan is money that you borrow and must pay back with interest.  The Department of Education's federal student loan program offers two types of loans to undergraduate students: Subsidized Stafford LoansUnsubsidized Stafford Loans.  The Parent PLUS Loan is also available for parents of dependent, undergraduate students.  The interest rate and origination fee for these loans are set annually by federal law.

To be considered for a federal student loan a student must:

  • be admitted to Florida Tech
  • file a FAFSA application 
  • be a U.S. citizens or eligible non-citizens
  • be enrolled in a degree-seeking program
  • register for at least half-time status (at least six credit hours per semester)

If you qualify, your loan options will be presented to you in your financial aid offer letter. If you wish to take advantage of the loan(s) presented to you, you must then accept your loan(s)

Before you receive your loan funds, you will be required to

Federal Subsidized and Unsubsidized Stafford Loans

Subsidized Stafford Loans

These loans are available to students with financial need, as determined by the FAFSA.  The interest on these loans is subsidized, which means the borrower does not pay interest on the loan while the loan is in deferment.  Loans are in deferment while a student is enrolled at least half-time in an eligible degree-seeking program.  Once the student graduates or ceases to attend school, the student will have a grace period of six months before the loan enters repayment.  Students will pay interest on the principal balance of the loan during repayment.

Unsubsidized Stafford Loans

These loans are available to undergraduate students and are not based on financial need.  Unlike the subsidized loans, the unsubsidized loan will begin to accrue interest the day the funds are disbursed (paid) to a student's account and continue to accrue interest through the life of the loan (until the principal and interest are repaid).

 Federal Stafford Loan Counseling

Students who wish to utilize their Federal Stafford Subsidized and/or Unsubsidized loan eligibility must complete both entrance and exit counseling. 

Entrance counseling must be completed prior to loan disbursement. The counseling provides students with information regarding student loans and the borrowing and repayment process to ensure that students understand the responsibilities and obligations they are assuming.

Exit counseling is required once the student has graduated, ceased enrollment or has dropped below half-time enrollment.  Students are required to provide the name, address, email address, and telephone number for your closest living relative, two references who live in the U.S., and your current or expected employer, if known.

Federal Parent PLUS Loans

Federal PLUS loans are not based on financial need.  They are available to parents of dependent undergraduate students.  Credit checks are required for Federal PLUS Loans.  The decision to approve or deny the loan is based on the results of a credit check that is conducted by the US Department of Education.  This loan can help the student cover any educational expenses not covered by other financial assistance up to the cost of education.  Eligible borrowers can apply at  When applying for a PLUS loan, it is important to note that it is a loan and must be paid back.  PLUS loans are unsubsidized, meaning they begin to accrue interest starting from the date the funds are disbursed to the student’s account.  These loans also have an origination fee deducted by the lender before funds are disbursed to Florida Institute of Technology.  The interest rate and origination fees are a set rate each academic year and set by the federal government. Rates are typically announced during the summer before the academic year begins.

Who Is Eligible?

Parents, adoptive parents, and stepparents of dependent undergraduate students attending college at least half time (6 credit hours) in a degree-seeking program are eligible for Parent PLUS loans. Borrowers must be U.S. citizens or eligible non-citizens. Loan approval is subject to credit criteria established by the U.S. Department of Education. A credit report will be obtained by your lender from a national credit bureau once you apply.

Application Process
  • Step 1: You must complete the Free Application for Federal Student Aid (FAFSA).  Our Federal School Code is 001469.
  • Step 2: The parent applicant should log into web site using his/her FSA ID. (This is the same FSA ID the parent would have used to complete and sign the FAFSA electronically.) From there, select Request a Direct PLUS Loan from the menu, and then select Parent PLUS on the following page. Be sure to request Florida Institute of Technology as the school of choice to ensure we receive the PLUS information.
  • Step 3: Promissory note and entrance counseling While on the website, the borrower should also complete and sign the Plus Master Promissory Note (MPN) and loan entrance counseling.
  • Step 4: Loan Certification The Florida Institute of Technology Financial Aid Office will certify your PLUS loan request and submit it for final approval, guarantee and disbursement.
  • Step 5: Loan Disbursement PLUS loans are disbursed directly to the school via electronic funds transfer (EFT). Funds are deposited into the student's school account upon verification of the student's enrollment. There is an origination fee deducted from each disbursement by the lender prior to the transfer of funds. For the current rate, please visit the Student Federal Aid web site
  • Step 6: Refund  Refunds from proceeds of PLUS loans will be issued to the student.

Parent PLUS Loan Denials & Counseling

Loan Denials

A dependent student whose parent has been denied a Parent PLUS loan during the current aid year may be eligible to receive Federal Stafford loans at the independent level with proof of Parent PLUS loan denial from the lender. A Parent PLUS loan denial is only valid for one aid year.

If your credit has been denied for the Parent PLUS Loan, you will be given four options on the application to choose from:

  • I do not wish to pursue a PLUS loan at this time. You must contact the Florida Institute of Technology financial aid office to let us know you would like the additional Federal Direct Unsubsidized Stafford loan
  •  I will obtain an endorser. Choose this option if you would like to add a co-signer. Borrowers whose Direct PLUS Loan credit checks are denied and then approved with an endorser, must complete PLUS Counseling before the Direct PLUS Loan can be disbursed.
  •  I want to appeal the credit decision. Choose this option if you believe the credit check is inaccurate or you can provide updated information about extenuating circumstances.

PLUS Counseling

PLUS Counseling is required if the U.S. Department of Education has informed you that you have an adverse credit history and you have obtained an endorser or documented to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to your adverse credit history.

PLUS Counseling can be completed voluntarily at any time. If PLUS Counseling is completed voluntarily and you are determined to have an adverse credit history by the U.S. Department of Education within 30 days of PLUS Counseling completion, your PLUS Counseling requirement will be considered to be fulfilled.

Borrowers can access the PLUS Counseling after they login by selecting PLUS Counseling from the menu, then selecting Parent PLUS to complete the counseling.

Cohort Default Rates and Borrower Statistics

In Fall 2021 there were a total of 9,316 enrolled students, 3,319 of which were Federal and/or private loan borrowers (35.6%).

The U.S. Department of Education releases official cohort default rates (CDR) once per year. The most recent official CDR are for Fiscal Year 2018, and were delivered September 27, 2021.  Florida Tech is 5.2%, which is below the National Average CDR of 7.3%.

Federal Work Study

Federal Work-Study (FWS) is an employment program which allows students to earn a paycheck through a financial aid award paid by federal funds. The program provides part-time employment opportunities in two areas, On-Campus & Community Service. Since it is federal money, students must receive the aid in their Financial Aid offer each academic year (Fall through Spring) to work.  Eligibility is based on need, as determined by the FAFSA.

Students in the work study program are paid hourly for actual hours worked and receive their paycheck biweekly. Funds are not applied to balances on a student's account; however, if a student wishes to use them to help pay their balance, they may do so when they receive their paycheck.

For more information on Federal Work study, see the Federal Work Study Guide.


Private Loans

Private Loan Providers are loans contracted with private lending companies directly by the borrower.

Florida Tech works with FASTChoice to make finding a private loan provider as simple as possible. The lenders listed on FASTChoice are lenders that have previously made private education loans to our students and have met our university’s strict criteria.

Florida Tech’s Loan Options page is reviewed annually. Note that at least two lenders will always be presented to you. You are free to choose any lender, including those not presented. Please note that private education loans do not carry a federal guarantee, and are considered financial aid because Florida Tech must certify three things to the lender:

  • Student is accepted at Florida Tech
  • Student is enrolled in courses
  • Borrowed amount is within the student's Cost of Attendance less any other financial aid

Our officials are prohibited from accepting any financial or other benefits in exchange for displaying lenders and loan options in FASTChoice.

Code Of Conduct

Florida Tech explicitly prohibits any conflict of interest between our counselors and Federal or private education loans.  All counselors responsible for loans are informed annually of the provisions of this code of conduct.  The code of conduct prohibits the following:

  • Revenue-sharing arrangements with any lender
  • Receiving gifts from a lender, a guarantor, or a loan services
  • Contracting arrangement providing financial benefit from any lender or affiliate of a lender
  • Directing borrowers to particular lenders, or refusing or delaying loan certifications
  • Offers of funds for private loans
  • Call center or financial aid office staffing assistance
  • Advisory board compensation
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