Financial Aid FAQs
General Questions about Eligibility
How do I apply to receive financial aid at State College of Florida?
What if I do not believe I will qualify for financial aid? Should I apply anyway?
What is the Federal School Code for State College of Florida?
What is the Verification process and why was I selected?
Do I have to be enrolled full-time to receive the Pell Grant?
What is financial need and how is it calculated?
How are the Subsidized and Unsubsidized portions of the Stafford Loans calculated?
What is the difference between a Subsidized and Unsubsidized Stafford Loan?
What is Federal Aid Eligibility?
How do I apply to receive financial aid at State College of Florida?
The first step in the application process is to complete the Free Application for Federal Student Aid (FAFSA) .
What if I do not believe I will qualify for financial aid? Should I apply anyway?
Yes! Even if you do not believe you are eligible to receive the Pell grant, you should still complete the FAFSA. There are other types of financial aid you may be eligible for. Most scholarships require the FAFSA regardless of Pell grant eligibility. In addition, if you wish to apply for a Direct Stafford loan, a completed FAFSA is necessary.
What is the Federal School Code for State College of Florida?
The Federal School Code for State College of Florida is: 001504. In order for the College to receive your FAFSA information from the federal student aid processor, you must enter this school code on the FAFSA.
New to FSA? Create an FSA ID account below. An FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature.Only create an FSA ID using your own personal information and for your own exclusive use. You are not authorized to create an FSA ID on behalf of someone else, including a family member.You are not allowed to have an employee or agent of a commercial entity, or other third party, create an FSA ID for you for any purposes including but not limited to: payment reductions, debt consolidation or applying for aid. Misrepresentation of your identity to the federal government could result in criminal or civil penalties. Need help creating an FSA ID? Important: When you are done click the CANCEL button to clear your data, even if you did not finish creating your FSA ID. Just closing your browser window or going to another website may not be enough to prevent other people using this computer from seeing your information until the session expires.
What is the Verification process and why was I selected?
Do I have to be enrolled full-time to receive the Pell Grant?
No. Eligible part-time students may receive Pell Grant.
What is financial need and how it is calculated?
Federal student aid programs such as the Pell Grant and the subsidized portion of Direct Stafford loans, as well as some scholarships, require that a student demonstrate "financial need" in order to qualify. To determine financial need, the following formula is used:
Cost of Attendance (COA) - Expected Family Contribution (EFC) - Resources = Financial Need
How are the Subsidized and Unsubsidized portions of the Direct Stafford Loans calculated?
Subsidized Calculation/Over-award
The subsidized Federal Direct Stafford Loan amount cannot exceed the established Cost of Attendance (COA) minus the Expected Family Contribution (EFC) minus the Estimated Financial Aid (EFA) (including any educational loans) received during the loan period. Any decrease in the COA, increase in the EFC or increase in EFA received may result in an over-award. When an over-award occurs, a reduction of the loan may be necessary. The over-award may require the student to immediately repay loan funds previously received.
Unsubsidized Calculation/Over-award
The unsubsidized Federal Direct Stafford Loan amount cannot exceed the established Cost of Attendance (COA) minus the Estimated Financial Aid (EFA) (including any educational loans) received during the loan period. Any decrease in the COA or increase in the EFA received may result in an over-award. When an over-award occurs, a reduction of the loan may be necessary. The over-award may require the student to immediately repay funds previously received.
What is the difference between a Subsidized and Unsubsidized Direct Stafford Loan?
Subsidized Direct Stafford loans are need-based, and the government pays the interest on these loans while you are in school, no interest accrues while the borrower is enrolled an at least half-time.
Unsubsidized Direct Stafford loans are not need-based, and you are responsible for all of the interest that accrues on the loan, including while you are in school.
What is Federal Aid Eligibility?
To receive Federal Aid, you must be eligible. You must be a U.S. citizen or eligible noncitizen, have a valid social security number, have a high school diploma or general education development (GED) certificate, or completed home schooling, be enrolled as a degree seeking student or eligible certificate,registered with the selective service if you are a male, and maintain satisfactory academic progress. Other conditions may also affect eligibility.
