Lifetime Limit to the Federal Pell Grant Program Beginning 2012-2013

Effective beginning the 2012-2013 award year a student’s eligibility for receiving the Federal Pell Grant will be limited to 12 full-time semesters (or its equivalent). This change applies to all Federal Pell Grant eligible students. It is not limited to students who receive their First Federal Pell Grant on or after 2008-2009 award year. We will calculate the Pell Grant duration for a student by adding together each annual percentages of a student’s scheduled award that was actually disbursed to the student. For example, a student whose 2011-2012 Federal Pell Grant award was $5,550, but who received $2,775 because she was only enrolled for one semester, will have used 50% of that award year’s schedules award. Similarly, a student who was enrolled three quarter time (9 credits) for the 2011-2012 award year would have used 75% of their scheduled award. www.studentaid.ed.gov/pell-limit

Termination of Direct Loan Borrower Repayment Incentives

Effective, July 1, 2012, the up-front rebate that has been provided to Direct Loan borrowers at the time of their loan disbursement will no longer be offered. As a result, the 0.5% origination fee for the Direct Stafford Loans will be 1% and the 2.5% origination fee for the Direct PLUS Loans will be 4.0%.

2011-2012 Florida Legislative Update

Based on the passing of the Florida State Budget and new legislation there have been changes to the eligibility requirements and funding amounts of FL Bright Futures (FBF) scholarships and the FL Resident Access Grant (FRAG).

All recipients of Florida scholarships and grants for 2011-2012 and beyond must complete an annual Free Application for Federal Student Aid (FAFSA). The FAFSA is completed on line at www.FAFSA.gov.