Florida Department of Education Office of Student Financial Assistance Office of Student Financial Assistance Update 1

Florida Department of Education Office of Student Financial Assistance Agenda Discover a New Journey with State Aid! Recap of a Successful Spring End-of-Year Activities Legislative Session Update Preparation & Budget 2

Florida Department of Education Office of Student Financial Assistance 3 Recap of a Successful

Florida Department of Education Office of Student Financial Assistance Recap of a Successful Processed over 109,500 students’ initial Florida Financial Aid Applications to receive state aid during the academic year Disbursed to date over 345,000 initial and renewing students over $568 million of state scholarship and grant funds 4

Florida Department of Education Office of Student Financial Assistance Recap of a Successful BF, FRAG and ABLE students filed the FASFA Grade and Hours Open May 1st thru June 30th 5

Florida Department of Education Office of Student Financial Assistance Spring End-of-Year Activities 6

Florida Department of Education Office of Student Financial Assistance Business Cycle Florida Statutes and State Board of Education Rules provide for reporting timeframes Statutes for State Programs SBE Rules for State Programs 7

Florida Department of Education Office of Student Financial Assistance Business Cycle – Calendar 8

Florida Department of Education Office of Student Financial Assistance Business Cycle – Renewal Application 9

Florida Department of Education Office of Student Financial Assistance Legislative Update

Florida Department of Education Office of Student Financial Assistance 2012 Legislative Update Bright Futures - HB7059 High school students who graduate mid-year may submit a state Florida Financial Aid Application by August 31 prior to their fall graduation to be evaluated for Bright Futures If eligible, the MEL will indicate a Conditional Code of “001” for these students who can then receive funding in the spring term of the same academic year following their mid-year high school graduation 11

Florida Department of Education Office of Student Financial Assistance 2012 Legislative Update Bright Futures – HB5201 – Conforming Bill Clarifies that BOTH initial and renewing students are required to file the FAFSA prior to receiving awards DER will prefill with ISIR transaction # that state has on file or Institutions to add transaction # that school has on file or An edit will display and prohibit disbursement Limits 2 terms of funding for students enrolled in the University of Florida Innovation Academy Spring/Summer program 12

Florida Department of Education Office of Student Financial Assistance 2012 Legislative Update Bright Futures – HB5201 – Conforming Bill Starting with students graduating high school in Students are eligible to be disbursed their initial Bright Futures award within two years following high school graduation rather than the current 3 years Students may then continue to accept renewal awards for up to five years following high school graduation or until they receive a baccalaureate degree, whichever comes first 13

Florida Department of Education Office of Student Financial Assistance 2012 Legislative Update Gold Seal Vocational Scholars - HB5201 – Conforming Bill High School Graduates may receive funds 100% of the number of hours in their program of study ONLY at a two-year or career Florida public or eligible Florida private postsecondary institution In the following programs: Applied Technology Diploma (ATD) up to 60 credit or equivalent clock hours Technical Degree Education Programs (AS, AAS, CCC) up to 72 credit or equivalent clock hours Career Certificate Programs (PSAV’s) up to 72 credit or equivalent clock hours 14

Florida Department of Education Office of Student Financial Assistance 2012 Legislative Update HB1263 Transferred administration from the Department of Health to the Department of Education for Nursing Student Loan Forgiveness Nursing Scholarship Program 15

Florida Department of Education Office of Student Financial Assistance Budget Budget

Florida Department of Education Office of Student Financial Assistance BUDGET State Scholarship and Grant Programs Budget Program Appropriation Amount Expenditures as of 5/1/12 FSAG $ 130,032,018 $ 131,298,536 Bright Futures $ 329,480,935 $ 333,530,567 FRAG $ 78,958,406 $ 73,750,530 All others $ 29,939,998 $ 29,737,209 TOTALS $ 568,411,357 $ 568,316,842 17

Florida Department of Education Office of Student Financial Assistance FSAG Budget HB5001 General Appropriations Act (GAA) FSAG $130, 032,018 Appropriation Annual maximum award = $2,534 Same sector allocations as Institutions receiving any state financial aid funds in are required to report by 9/1/12 Total loan amounts disbursed Total number of students receiving loan funds See easy online report 18

Florida Department of Education Office of Student Financial Assistance Bright Futures Award Amounts for Budget of $329,408,935 19

Florida Department of Education Office of Student Financial Assistance FRAG Budget HB5001 General Appropriations Act (GAA) FRAG $78,958,406 Appropriation eligible institutions (30) Maximum award = $2,150 Institutions eligible after (1) Maximum award = $1,476 All students required to file the FAFSA prior to receiving funds 20

Florida Department of Education Office of Student Financial Assistance ABLE Budget HB5001 General Appropriations Act (GAA) ABLE $2,310,231 Appropriation Maximum award = $803 Students required to file the FAFSA prior to receiving funds 21

Florida Department of Education Office of Student Financial Assistance Preparation for Preparation for

Florida Department of Education Office of Student Financial Assistance State Student Financial Aid Database Security Postsecondary Institutions Tab Links are Secure OSFA designates Financial Aid Director (FAD) as security designee who then assigns staff access at their institution User IDs are deactivated if No activity within 7 days of activation or re-activation Non-use for 90 consecutive days Security is important! Do not create generic passwords or share passwords SSFAD System times-out after 15 minutes 23

Florida Department of Education Office of Student Financial Assistance Questions and Assistance OSFA Contacts Theresa Antworth – Director, State Scholarships & Grants Toll-free State Programs: Lori Auxier-Hash – Director of Outreach Services Levis Hughes – Bureau Chief OSFA Toll-free Federal Loans: Thank You