© 2014, Florida Department of Education. All Rights Reserved. State Scholarships and Grants State Update

© 2014, Florida Department of Education. All Rights Reserved Legislative Session

© 2014, Florida Department of Education. All Rights Reserved Legislative Budget Program Appropriation Appropriation (Senate Proposed) Appropriation (House Proposed) Bright Futures$266.19$ FSAG$ $ FRAG$ $ ABLE$5.69$5.67$6.81 FIS$4.87$8.38$7.17 NOTE: Appropriation amounts are in millions.

© 2014, Florida Department of Education. All Rights Reserved Legislative Session Initiatives that did NOT Pass Bright Futures Summer Funding Eligibility Extension (Religious or Service Obligation)

© 2014, Florida Department of Education. All Rights Reserved Legislative Session Initiatives that did NOT Pass Florida Incentive Scholarship Statutory name change Formal agreement with National Merit Scholarship Corporation to maintain ‘Preeminent’ status

© 2014, Florida Department of Education. All Rights Reserved Legislative Session Initiatives that did NOT Pass Student Debt: Cohort Default Rates Initiative A: Require FRAG and ABLE institutions to maintain a federal student loan cohort default rate below 30% for 3 consecutive years Initiative B: Create a student default risk index. Allocations required to be withheld from FRAG and ABLE institutions if risk index exceeded 20%

© 2014, Florida Department of Education. All Rights Reserved Legislative Session GAA Proviso Language (Senate) Student Debt: Cohort Default Rates Cohort Default RateFRAGABLE < 20%$2,924$1, – 24.9%$2,632$1, – 29.4%$2,339$1,200 > 30%No Award Award for Students Initially Enrolled after July 1, 2015

© 2014, Florida Department of Education. All Rights Reserved Legislative Session Initiatives that did NOT Pass Need-based Aid - FSAG Priority based on all other ‘financial resources’, including Prepaid Contracts Higher EFC eligibility cutoff Higher minimum need amount Allocation equally weighted between prior year funded and prior year ‘otherwise eligible’ FTE

© 2014, Florida Department of Education. All Rights Reserved Legislative Session GAA Proviso Language (House) Need-based Aid - FSAG Additional $6.4 million to increase need-based financial aid to students who demonstrate need, but did not receive FSAG the prior year Award to students with unmet need after: o All other financial aid awards o Scholarships o Prepaid tuition accounts

© 2014, Florida Department of Education. All Rights Reserved. State Programs What You Need to Know

© 2014, Florida Department of Education. All Rights Reserved. What You Need to Know State Calendar Reduced the number of questions PSI Renewal Application – due June 5Grade & Hours – due June 30 New File sFTP layout July 1 – includes Term 5, record length increases from 224 to 245 Reconciliation – due June 30Report ‘Otherwise Eligible’ Students - FSAG

© 2014, Florida Department of Education. All Rights Reserved. What You Need to Know Database Security Removed ‘Download’ Buttons Disbursement Eligibility Report (DER) Master Eligibility List (MEL) Grade and Hours Report Eligibility Determination Lists (FRAG, FSAG, and T20) FRAG Waiting List Defaulted State Scholarship and Loan Recipients

© 2014, Florida Department of Education. All Rights Reserved. What You Need to Know Database Security Transmit Data via sFTP Process Disbursement Eligibility Report (DER) Master Eligibility List (MEL) Grade and Hours Report Eligibility Determination Lists (FRAG, FSAG, and T20) FRAG Waiting List Reconciliation Report

© 2014, Florida Department of Education. All Rights Reserved. What You Need to Know Database Security Masking the Full SSNs Student Information – Financial Aid Recipient History (FARH) Defaulted State Scholarship and Loan Recipients Disbursements Eligibility Report (DER) Master Eligibility Lists (MEL) FRAG Waiting List Grade & Hours Report (GRHR)

© 2014, Florida Department of Education. All Rights Reserved. What You Need to Know Database Security Login Module Requiring stronger password Revising ‘Forgot Password’ process

© 2014, Florida Department of Education. All Rights Reserved. What You Need to Know Program Administrative Changes Bright Futures 2-Year Initial Eligibility Period high school graduates and thereafter who are approaching the 2-year period can complete the R/R Application by 8/31 to have their eligibility reinstated

© 2014, Florida Department of Education. All Rights Reserved. What You Need to Know Program Administrative Changes Florida Incentive Scholarship Administrative Rule 6A Restricted the qualifying $500 institutional award to Finalists

© 2014, Florida Department of Education. All Rights Reserved. Contact Information Brian Underhill Director of State Scholarships & Grants Levis Hughes Bureau Chief, Office of Student Financial Assistance Toll Free: (888)

© 2014, Florida Department of Education. All Rights Reserved.