Understanding Your Financial Aid Summary The Financial Aid Summary outlines the financial
aid programs you appear eligible to receive in the upcoming award year.
The information provided in your financial aid summary is based on a variety of factors
including the information provided on the Free Application for Federal Student Aid (FAFSA),
your award eligibility and the availability of funding from institutional, state and federal
programs.
Financial aid summaries are sent via email, vary by student and are a personalized estimates
of the aid a student appears eligible to receive.
Your financial aid summary may include scholarship information, for students who are eligible
for Bright Futures and/or Pegasus Awards; as well as federal, state, and institutional
grants for students who are eligible.
There are a variety of factors considered when creating your financial aid package.
Your financial aid package will not exceed your Cost of Attendance, the budget of educational
expenses created by UCF based on your residency, housing and enrollment status.
The Cost of Attendance or as we say in financial aid COA includes tuition and fees, room and
board and other educational expenses.
For the upcoming academic year for full-time Florida residents who do not live with a parent
or relative the COA is $23,622 and the Cost of Attendance for Non-Resident Students is
$38,648.
Students who complete the FAFSA receive an estimated family contribution (also known
as the EFC) from the federal processor.
The EFC is used to determine your eligibility for grants such as the Pell Grant and the
Florida Student Assistance Grant.
The EFC is subtracted from the COA to determine your need.
Students who have financial need may qualify for need based financial aid programs such
as the subsidized loan.
Your financial aid package may contain a combination of gift aid which is money that does not requiring
repayment and is not earned from work; such as grants and scholarships; and self-help
aid, money that is earned through work like federal workstudy and/or money that must be
repaid like student loans.
If you have completed a FAFSA, your financial aid package may include a combination of the
need-based subsidized loan and the non-need based unsubsidized loan.
The federal government pays the interest on the subsidized loans while students are enrolled
at least half-time.
The amount of loans included in your financial aid package is based on your need, your dependency
status and your academic classification.
If you would like to accept the student loans included in the financial aid summary, you
may do so via myUCF in mid-July.
When this feature becomes available in July, you will receive an email in your Knights
email account.
While the parent PLUS loan is not included in the financial aid package, parents of undergraduate
students may apply for this credit-based, federal loan at www.studentaid.gov, as early
as July 1st for the upcoming academic year.
Your initial package is based on a projection of full-time enrollment.
Full-time enrollment for an undergraduate student is 12 credit hours.
If the Florida Bright Futures Scholarship is included in your financial aid package,
it is estimated at 14 credit hours.
Your award package will be updated to reflect your actual enrollment, after the start of
each semester.
The financial aid website has a lot of information available at your fingertips.
In your financial aid summary, you will receive a link to a financial aid guide that has information
on the aid programs offered via the Office of Student Financial Assistance and the financial
aid process.
Another great resource on the website is the Program Eligibility Chart that outlines the
enrollment and other requirements of specific financial aid awards.
Also, if you are looking for more gift aid, you will find Access to Opportunities A2O,
UCF’s online scholarship platform that showcases internal and external scholarship opportunities,
in the scholarship section of the financial aid website.
Your financial aid summary is a tool to assist you with planning for the upcoming year.
The Office of Student Financial Assistance is always available to assist you with learning
more about the financial aid process.
We encourage you to visit our website, where you can make an appointment for a virtual
financial aid counseling session.
We may also be reached via phone at 407.823.2827 or toll free at 844.376.9160 . Our email address
is finaid@ucf.edu.
We take pride in helping Knights meet their educational goals…
So…
Go Knights Charge On!