Financial Aid

Affording the Best Education

College is a significant investment of money, time, and energy. This investment increases lifetime earnings, broadens career options, and enriches a lifetime. The full cost includes tuition and fees, supplies, housing, transportation, and miscellaneous personal expenses.

Prospective students and their families can learn more about financial aid by consulting with guidance counselors and financial aid offices. There are also many online resources. The best online resource is Federal Student Aid, the official website of the Office of Federal Student Aid (FSA) at the U.S. Department of Education. The website describes the various types of aid and eligibility requirements. It also offers tools for estimating a student’s financial aid.

Federal Assistance

Most federal financial assistance is based on need. Financial need is the difference between the costs of attendance at a college less the expected family contribution derived from the Free Application for Federal Student Aid (FAFSA). Family income and other factors are considered in determining the level of financial aid for which a student qualifies. Prospective students and those currently enrolled must complete the FAFSA to be eligible for aid. Information about all federal assistance programs is available at Federal Student Aid. Programs include both need-based aid and loans.

Need Based Assistance

Pell Grants: These awards are need-based and do not need to be repaid.
Federal Supplemental Education Opportunity Grant: The FSEOG Program provides need-based grants to help low-income undergraduate students finance the costs of postsecondary education. Pell Grant recipients with exceptional financial need may receive additional funding, based on availability.
Federal Work Study: This program provides jobs for students and encourages work and community service.
ROTC Tuition Scholarship: This scholarship may cover all or part of tuition, fees, and books, and a monthly allowance. Military service is required after graduation.
Aid for Military Families: There are a variety of aid programs for military families including ROTC grants, Iraq or Afghanistan Service Grants, and more.

Federal Student Loans

Direct Subsidized Loans: These loans are made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.
Direct Unsubsidized Loans: These direct loans are made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.
Direct PLUS Loans: PLUS loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
Direct Consolidation Loans: These loans allow students to combine all of their eligible federal student loans into a single loan with a single loan servicer.

* Student loans are also available from banks and other financial institutions.

Florida Assistance Programs

The Florida state government provides student financial aid programs to help Floridians afford the costs of a college education. These programs are merit-based, need-based, special interest-based, and require Florida residency.

Financial aid packages are carefully designed at each campus by financial aid staff to meet student’s individual needs. Generally, these packages combine several types of assistance depending on: family resources: calculated need, academic/athletic/artistic merit, government funding, Florida residency, and other factors. Nearly 90% of undergraduate students at ICUF institutions receive some additional type of financial aid.

Florida residents seeking state aid should visit Florida Student Scholarships and Grant Programs, a website maintained by the state’s Department of Education’s Office of Student Financial Assistance. The website describes available assistance programs and their eligibility requirements.

Effective Access to Student Education: The EASE award provides tuition assistance to Florida undergraduate students attending an eligible private, non-profit Florida college or university. Each participating institution determines application procedures and student eligibility. Approximately 46,000 undergraduate students at Florida’s private colleges receive EASE grants.

Florida Bright Futures Scholarships : This merit-based scholarship is funded by proceeds from the state lottery and is awarded to students who have high academic achievement.

Florida Student Assistance Grants : FSAG grants are need-based awards that are available to degree-seeking, resident, undergraduate students who demonstrate substantial financial need and are enrolled in participating postsecondary institutions.

Mary McLeod Bethune Scholarship Program : Scholarships are available to qualifying students at Historically Black Colleges or Universities, including three ICUF institutions: Bethune-Cookman University, Edward Waters College, and Florida Memorial University. The scholarships are need-based and merit-based.

Financial Aid Offices

Prospective students are encouraged to contact the financial aid offices at Florida’s independent colleges and universities.