Students must also meet Borrower Based Aid Year requirements for Federal Student Loans. The Borrower Based Academic Year (BBAY) defines how a student’s annual loan limit is distributed. The BBAY is the length of time it takes a student to complete 24 credit hours, which is 8 classes. A student’s annual loan eligibility is divided evenly among the 8 classes. If you are a full-time student and take 2 classes per term, you would complete your BBAY in 4 total terms. If you are a part-time student and enroll in 1 class per term, it would take 8 total terms to complete your BBAY. A student has the option to move between full-time and part-time throughout their BBAY; however, their aid will adjust accordingly. Please note that if a student has taken a total of 7 classes, that student would have enough loan funding remaining to fund 1 course in their next term.
Once a student has utilized all of their funding in their current BBAY, Financial Aid will then review the courses taken during the current BBAY. If the student has successfully completed all 8 classes they will qualify for a new BBAY with funding for 8 more classes. However, if a student utilizes loan funds for a course that the student withdraws from, receives an Incomplete (I), Fail (F), or a (D) in graduate coursework, the student will reach the end of their BBAY with only 7 classes completed and no loan funds remaining. In this situation, the student must pay out of pocket for the 1 class they failed to complete successfully and complete the class successfully in order to qualify for a new BBAY. Once the course has been completed successfully and the student has completed the 8 courses required for their BBAY they will qualify for a new BBAY with funding for 8 more classes.
Here are some important items to note:
The Florida State aid is only available to Florida residents who are citizens or permanent residents of the United States. Florida residency is based on state law and administrative rules. Generally, students whose families have been living in Florida twelve (12) consecutive 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.
Full-time undergraduate students who are seeking their first bachelor’s degree and meet the Florida residency requirements are eligible to receive this financial assistance from the state. Students must be enrolled in at least 6 credits in Fall I and Fall II for a Fall disbursement, which occurs in Fall II. Students must be enrolled in at least 6 credit hours in Spring I and Spring II for a Spring disbursement, which occurs in Spring II. Students who do not successfully pass 6 credit hours in Fall I/Spring I will not be eligible for the Fall II/Spring II disbursement. There is no funding during Summer terms. The award amount varies from year to year and is based on available state funds. The state legislature will determine the amount for each academic year.
To be eligible for renewal, students must have a 2.0 or higher cumulative GPA and must have successfully completed at least 6 credit hours per Fall I and enroll in at least 6 credit hours per Fall II. For Spring funding, students must have a 2.0 or higher cumulative GPA and must have successfully completed at least 6 credit hours during Spring I and enroll in at least 6 credit hours during Spring 2. If a student fails to complete 6 hours successfully in the Fall II or Spring II term during which they received the state aid, the student must sit out a full year (Fall I, Fall II, Spring I and Spring II) before being considered for renewal. Students who sit out a year must meet the minimum GPA requirements to be reinstated. Note that Satisfactory Academic Progress (SAP) appeals through the university will not apply to these awards and a separate appeal must be made, if the student is eligible to do so. Appeal eligibility requirements are limited and outlined by the state. For more information on requirements, reinstatements and other rules, please visit Florida Department of Education's Website.
Eligible applicants are Florida high school graduates with a minimum 3.5 high school GPA, a 1290 SAT or 29 ACT composite and 100 hours of community service. Eligible students receive $211/credit hour, plus $150 per term. Additional $150 is not available in summer terms.
Eligible applicants are Florida high school graduates with a minimum 3.0 high school GPA and a 1170 SAT or 26 ACT composite and 75 hours of community service. Eligible students receive approximately $158/credit hour.
Students must have a minimum 3.0 cumulative GPA to renew their Florida Academic Scholars (FAS) award and a minimum 2.75 cumulative GPA to renew their Florida Medallion Scholars Award (FMS). FAS awardees who earn less than a 3.0 cumulative, but higher than 2.75 cumulative GPA will be renewed at the FMS award level, so long as they meet the credit hour requirement (see below).
Students will be required to complete the Fall I/Spring I term successfully to renew the award for the Fall II/Spring II term. Similarly, students must complete all credit hours in the Fall II term to be renewed in Spring, and Spring II to be renewed for the Summer I.
Note that Bright Futures funds will not pay for withdrawn courses, repeated courses or remedial courses. Satisfactory Academic Progress (SAP) appeals approvals through the university will not apply to this award. If a student fails to meet the renewal requirements after their first year in college and brings their academic standing to the minimum requirements for their Bright Futures Scholarship by the end of their second year, the student may appeal to the state for reinstatement of their Bright Futures award.
For more details on Bright Futures requirements, reinstatements and other rules, please visit their website.
Florida Tech also offers need-based book and tuition grants to those who qualify. To qualify for need-based grants, students must meet the basic eligibility requirements for Federal Financial aid and submit a https://studentaid.gov/h/apply-for-aid/fafsaFAFSA each year and accept their full Federal Aid offer. Aid will be awarded based on the student's FAFSA information and other Financial Aid.
To continue receiving Florida Tech Book or Tuition Grants, students must meet the Basic Eligibility Criteria for Federal Aid (listed above), meet the general eligibility requirements for the grants (listed above) and meet the minimum Satisfactory Academic Progress Standards.