Financial Aid Fee Trust (FAFT)
Financial Aid Fee Trust (FAFT)
General
Students with special circumstances may be eligible to apply for Financial Aid Fee Trust (FAFT). FAFT is a fund to be used to pay in full, or in part, the fees of persons with demonstrated financial need.
Eligibility
- Student demonstrates financial need when the Cost of Attendance exceeds awards by Pell, FSEOG, FSAG or waivers.
- Must be a US citizen or eligible non-citizen
- Must be a Florida resident
- Submit a complete, error-free Free Application of Federal Student Aid (FASFA) each school year
- Demonstrate sufficient financial need to qualify for an award
- May not be in default of student loan
- Does not owe a repayment of any grants or scholarships to any school
Financial Aid Fee Trust (FAFT)
Use of FAFT
- Students at the end of program hours whose Pell grant will not cover tuition and fees will be allowed 100% FAFT of remaining fees for one semester in order to complete the program.
- Students enrolling in a program of 600 hours or more who demonstrate financial need which is not met by Pell award will be allowed 75% FAFT deferment once they have paid 25% of all tuition and fees.
- Students enrolling in programs of 599 hours or less who meet eligibility criteria will be allowed 50% FAFT deferment once they have paid 50% of all tuition and fees.
- FAFT may be used when all Florida Student Assistance Grant (FSAG) has been exhausted for the academic year.
- FAFT may also be used to cover the cost of Applied Academics for Adult Education.
- Students requesting a professional judgment may be eligible for assistance under the FAFT guidelines.
