University students who are Florida residents will benefit from increases in two important state financial aid programs in the coming year.
The Florida Resident Access Grant (FRAG) award to students seeking a bachelor’s degree increases $350 from $2,150 to $2,500, which is more than a 16 percent hike. Florida’s Bright Futures award has grown slightly, with the Florida Academic up from $100 to $103 and the Florida Medallion up from $75 to $77 per credit hour.
The increases were approved by the Florida Legislature and signed into law by Governor Rick Scott last month. Palm Beach Atlantic recently notified eligible new and returning students.
“This positive news comes at a time when federal aid continues to be reduced,” said Todd Martin, PBA’s director of financial aid. He noted that nearly 300 students responded to an offer to thank the Legislature for supporting their education at http://go.pba.edu/frag-support
Martin noted that eligibility for FRAG or Bright Futures is not based on the Free Application for Federal Student Aid (FAFSA). FRAG is an award to state residents who are enrolled in a private college or university located in Florida while Bright Futures awards are based on academic performance.