Beacon College Financial Aid Options

Pell Grant
The Pell Grant Program is the largest of the Federal Student Aid grant programs and provides a "foundation" of financial aid to which assistance from other federal and non-federal sources may be added. The Pell Grant is available only to degree-seeking undergraduate students who have never received a baccalaureate degree.
The maximum annual Pell Grant for the award year may change from year to year according to Congressional appropriation. Pell Grant eligibility is based on the Expected Family Contribution (EFC) which is determined from the Free Application for Federal Student Aid (FAFSA). The amount of Pell Grant that is disbursed varies in accordance with students’ enrollment status. One annual Pell Grant award provides two full time terms of eligibility

Federal Supplemental Educational Opportunity Grant
These grant funds are available on a limited basis to undergraduate students with high documented financial need who are pursuing their first undergraduate degree. Grants may range from $100 to $800 for an academic year.
A student must meet the priority deadline of March 1st and be enrolled full time to receive an FSEOG

A Little Help From The Sunshine State
Florida resident? You're in luck. Beacon works with the state to provide eligible students with Florida Bright Futures Scholarships and Florida State grants. You may also apply your Florida Prepaid College Plan savings to your Beacon College education.

What you need to do.

Complete and file the FAFSA before March 1. (Make sure to list Beacon College's school code: 0033733.)
Consult your high school guidance counselor in Dec. of your senior year to fill out the Bright Futures scholarship paperwork.

Residency Requirements
The Florida Bright Futures Scholarship program is only available to Florida residents who have graduated from a Florida high school and are citizens or permanent residents of the United States. Florida residency and eligibility for Florida State aid programs are based on state law and administrative rules. Generally, students whose families have been living in Florida 12 months prior to the start of the school year are considered residents. A full and complete description of rules and regulations regarding Bright Futures and other state aid can be found via the state's Office of Student Financial Assistance.

Florida Bright Futures Scholarship Program
To qualify, a student must have at least a 3.0 high school GPA and a 970 SAT (math and critical reading) or 20 ACT composite

Bright Futures Academic Scholars
Eligible students receive approximately $3,030 (30 credits x $101/credit hour) per year. Eligible applicants must have a 3.5 high school GPA, a 1270 SAT or 28 ACT composite and 75 hours of community service.

Bright Futures Medallion Scholars
Eligible students receive approximately $2,280 (30 credits x $76/credit hour) per year. Eligible applicants must have a 3.0 high school GPA and a 970 SAT or 20 ACT composite.

Florida State Grants
All full-time undergraduate students who meet the Florida residency requirements are eligible to receive this financial assistance from the state.

Florida Resident Access Grant (FRAG)
This amount varies from year to year based on available state funds; however, the amount awarded for 2011-2012 was $2,149. The state legislature will determine the amount for the next academic year.

Florida Student Assistance Grant (FSAG)
Grants approximate $1,754 per year and are based on demonstrated financial need.

Florida Prepaid College Plan
Beacon College is an eligible institution for the Florida Prepaid College Plan (FPCP) program. Accumulated funds may be applied toward expenses at Beacon College. Visit the FPCP Office for further details.

Education loans are financial aid the student borrows and repays to a lender, with one exception - the Parent PLUS Loan where a parent is the borrower. Federal loans are considered financial aid because the federal government provides the lender a guarantee that the loan will be paid.
To be considered for a Federal education loan:

Student must file the FAFSA
Student must be accepted by Beacon College
Student must be enrolled in a degree seeking program
Student must register for at least half time status

Alternative loans do not carry a Federal guarantee. They are considered financial aid because Beacon College must certify three things to the lender:

Student is accepted at Beacon College
Student is enrolled in a degree seeking program
Amount being borrowed is within the student's Cost of Attendance less other financial aid

Note: Before you accept or refuse a loan, determine what your expenses and your resources will be for the upcoming year so as not to borrow more than you need. You may accept any amount up to the offered award amount.

Loan Options

Federal Stafford Loans
Stafford Loans come in two types. For Subsidized Loans, the government pays the interest while the student is in school. Eligibility is based on financial need. For Unsubsidized Loans, all interest is paid by the borrower; however, interest payments may be deferred by adding it to the principal.

Federal regulations impose both annual and lifetime limits on student borrowing under the Stafford Loan program. There is a special limit on Subsidized Loans. There are also limits on the combined borrowing of Subsidized and Unsubsidized Loans. In addition, there are separate limits for Freshman and Sophomore students. These limits are addressed below.

PLUS Loans for Parents of Undergrads
The Federal PLUS Loan is one option for closing the difference between any financial aid that has been awarded and the total estimated cost of education, as approved by the Financial Aid Office.

PLUS Loans are based on credit standing of the borrower rather than on financial need. To learn How To Apply, go to Federal PLUS loans.

Federal Stafford Loans - Undergraduate Annual Limits:
The annual limits on Subsidized Stafford Loans are identical for both dependent and independent students with financial need:

Freshman - $3,500 per aid year
Sophomore - $4,500 per aid year
Junior/Senior - $5,500 per aid year

Dependent students are now automatically eligible for $2,000 in Unsubsidized Loans. If the dependent student's parent has also applied for and been denied credit for a Parent PLUS loan, then the student's Unsubsidized Loan eligibility limit increases to the same amount reflected below for independent students with financial need.

Independent students with financial need may borrow an additional $6,000 in Unsubsidized Loans as a Freshman or Sohpomore, or $7,000 as an upperclassman.

Independent students without financial need may borrow up to:

$9,500 as a Freshman
$10,500 as a Sophomore
$12,500 as an upperclass student in Unsubsidized Loans.

There are other sources of financial aid, independent of Beacon College, that may help pay for your undergraduate degree. The scholarship search engines listed below will provide you a starting point. Please keep in mind that you should not need to pay a fee to apply for a scholarship, but you do need to contact the Financial Aid Office and inform them of any outside scholarships you are awarded.

State governments provide funds through vocational rehabilitation grants for people with disabilities pursuing postsecondary education. The amount of the grant varies by state, and can be received for any semester. Contatct your local Vocational Rehabilitation Office for additional information.

Institution Scholarships

Scholarships for Students with Learning Disabilties

General Scholarship Websites