Financial Aid Available* To Support Your Educational Goal.
FINANCIAL AID
As a University of Florida student in the WPPD program, you may be eligible for federal financial aid in the form of educational loans. There is no cost to apply for financial assistance, and you may qualify for a student loan regardless of your income.
In general, for eligibility you must meet the following criteria:
- Be accepted as a degree-seeking student, or
- Be making satisfactory academic progress
- Be a U.S. citizen, national or permanent resident alien
- Enroll at least half time (6 credits)
- Not be in default on prior student loans
- Not owe a repayment or overpayment of a federal grant
USEFUL WEBSITES
- FAFSA on the web www.fafsa.ed.gov
- Help in completing the FAFSA
http://studentaid.ed.gov/students/publications/ completing_fafsa/index.html - Funding Education Beyond High School: The Guide for Federal Student Aid
http://studentaid.ed.gov/students/publications/ student_guide/index.html - The Smart Student Guide www.fafsa.org
*To students who qualify
TYPES OF FINANCIAL AID
There are many ways to get funding for your education; one of the most widely used resources is a federal or private loan.
Federal Stafford
The Federal Stafford Loan is the most common type of federal student financial aid loan, and it requires the completion of the Free Application for Federal Student Aid (FAFSA). There are two types of Federal Stafford Loans:
Subsidized
A subsidized Stafford Loan is awarded on the basis of need and the federal government pays interest on the loan while you are enrolled at least half-time (6 credits) and for one 6-month grace period after you graduate or fall below half-time enrollment.
Unsubsidized
An unsubsidized Stafford Loan is not based on need and allows some students to borrow additional money. Students are responsible for the interest on an unsubsidized loan. No payments are required on any Stafford Loan until 6 months after you leave school or fall below 6 credits. If possible, you may want to pay accrued interest on an unsubsidized loan while you are enrolled.
For more information on Federal Stafford Loans, click here.
http://studentaid.ed.gov/PORTALSWebApp/students/english/
studentloans.jsp
Federal PLUS Loan
Parents and stepparents of dependent undergraduate students attending school at least half-time may take out a Parent Loan for Undergraduate Students (PLUS). This is an unsubsidized loan that is often lower in cost than a private loan because the federal government guarantees it. Loan approval is subject to credit criteria established by the U.S. Department of Education and your lender. A PLUS loan must be repaid. It is the responsibility of parents to make these payments.
For more information on Federal Plus Loans, click here.
http://studentaid.ed.gov/PORTALSWebApp/students/english/
parentloans.jsp
Alternative Student Loans
Some students may need additional loan funds after maximizing their federal loan options or may not be eligible for federal loans and still need to borrow towards their education. Many lenders offer private alternative loans to help students meet the gap between financial aid and college costs.
Students must either meet the credit criteria of the loan for which they are applying or have a credit-eligible co-borrower. Many of these loans also require enrollment in six or more degree credits per semester, but there are options for students studying in non-degree classes or enrolled in less than half-time status.
For more information about applying for federal loans and any other financial aid questions please contact Mike Menefee or Adrianne Henderson and they can be reached at 352-273-6202 M-F 8 AM – 5 PM EST or via email at mmenefee@ufl.edu or ahenderson@ufl.edu.
