IMPORTANT INFORMATION

By now, you may have received your financial aid award for 2012-2013. PLEASE READ THE FOLLOWING INFORMATION CAREFULLY! Also read the Rollins College Catalogue for additional financial aid policy information.

Your financial aid award may be affected by the following:

• Verification. Rollins must verify the accuracy of the information submitted on your Free Application for Federal Student Aid (FAFSA). Changes made to your FAFSA as a result of verification may result in an adjustment to your financial aid award. If you are selected for verification by the U.S. Department of Education on your Free Application for Federal Student Aid (FAFSA), you must utiliize the IRS Data Retrieval Tool on the FAFSA or submit a Tax Return Transcript from the IRS. Credit to your account cannot be made until the verification process is complete. 

 

• Additional scholarships. If you receive a scholarship that is not listed on this award, your financial aid award may be affected. Please contact us immediately if you will receive any assistance not listed on your financial aid award.

 

• Florida funding levels and residency . Florida funding levels are controlled by the Department of Education and are subject to change. Rollins has estimated your state eligibility and award amounts based upon information available to us at this time. You may be required to document your Florida residency.

 

• A Florida Resident Affidavit application must be submitted. If you are a new student, you must submit this form by October 1 to receive funding for the academic year and by February 1 to receive funding for spring only

 

• The Florida Resident Access Grant (FRAG) provides tuition assistance to full-time resident students pursuing a first bachelor's degree, attending non profit private colleges and universities in the state of Florida. Funds for support of FRAG are administered by the Florida Department of Education and contingent upon appropriations made by the Florida legislature.

 

• Florida Bright Futures Scholarships. All Bright Futures awards are fully funded by the Florida Lottery through the Educational Enhancement Trust Fund and administered by the Florida Department of Education. A student who graduates from a Florida high school must apply and qualify during the last year in high school before graduation. The three levels of scholarship are Florida Academic, Florida Medallion, and Vocational Gold Seal. If you are a new student, we have estimated the amount of the scholarship. We will receive confirmation of final eligibility from The Department of Education late in the summer. This may result in an adjustment to your award. If you believe we have incorrectly assumed you are eligible, please contact our office.

 

• Scholarship renewal requirements. If you are a returning student, your scholarships have been tentatively renewed. Therefore, if you do not meet the GPA and/or completion rate renewal requirement by the end of spring term, your scholarship(s) will be canceled.

 

• Satisfactory Academic Progress. You are required to meet satisfactory academic progress requirements to continue receiving financial aid. These requirements are published in the Catalogue. If you are currently enrolled and are not meeting satisfactory progress requirements at the end of spring term, your financial aid will be canceled.

 

• Student Loans. If you have been awarded a loan, the amount was calculated based upon the grade level indicated on your FAFSA. If the grade level you reported is incorrect, your loan amount will be adjusted accordingly.

 

• Federal Direct Stafford Loan. Direct Stafford Loans are funded by the U. S. Department of Education and are made to students attending at least half time. Students qualify for a subsidized loan based on financial need, as determined under federal regulations. A student's need is not a factor in determining eligibility for the unsubsidized loan. The unsubsidized loan accrues interest during enrollment while the subsidized loan does not. Subsidized Stafford loans are offered at a fixed 3.4 percent and Unsubsidized Stafford loans at a fixed 6.8 percent interest rate.

 

• Federal Perkins Loan is a low interest (5 percent fixed) loan for students with financial need. Promissory notes will be available for you to sign during the first 10 days of class. If you are a first time borrower, you must also complete Entrance Counseling .

 

WHAT WILL ROLLINS COLLEGE COST?

Cost of Attendance is comprised of tuition, room (a double room is assumed), board, books, loan fees, personal, and transportation expenses. Some of these expenses are direct expenses that are billed to you by Rollins College . Directly billed expenses are highlighted and in bold below. Other expenses are indirect (not billed) but do represent a real cost to you that may be used in determining your financial aid eligibility. Your Cost of Attendance will vary depending on whether you live on campus or at home with your parent(s).

 * A Federal College Work Study award is an opportunity to work and is not credited to your account to pay the bill. You will receive payment throughout the year in the form of a biweekly paycheck for actual hours worked.

**Federal Direct Stafford Loans charge an origination fee of 2%, which is deducted from the proceeds.

Programs to help you manage your share of the bill:

A 10-month payment plan is available. Details about the plan may be obtained from the Bursar at (407) 646-2252. If you choose this option, your share of the bill will be divided into 10 monthly installments. There is an annual participation fee, but no interest is charged.

Federal Parent Loans (PLUS) are available to parents with good credit. The PLUS loan will finance your share of the bill over a 10-year repayment period which begins 90 days after the loan is fully disbursed, or you may choose to delay loan payments until after the student graduates. You may defer against tuition payment only if the application has been approved prior to the due date. Please allow a minimum of 15 working days for credit approval. Further details may be requested from the Financial Aid Office at (407) 646-2395 or visit http://www.rollins.edu/finaid/PLUS-loans.html.

Students may also borrow additional amounts up to the total cost of attendance from private loan programs. Details about these loan programs may be requested from the Financial Aid Office at (407) 646-2395.

BILLING INFORMATION

Most financial aid programs will be paid to your account during the first week of class if your application is complete and has been verified as accurate. Federal financial aid is used to cover tuition, room and board, with other aid covering additional costs of attendance. As a result, credit balances are typically only caused by Rollins' financial aid. Refund balances resulting from Rollins' aid will be available, by request, from the Bursar after the Add/Drop period. Prior to the actual payment of financial aid, deferment of tuition may be granted for financial aid that is pending. If you expect funding from a financial aid program that does not appear on your billing statement, you must contact the Financial Aid Office before the bill is due to avoid late charges.

OUTSIDE AID Some financial aid programs are received from outside sources such as private scholarships, employee benefit plans, or out-of-state grants. These programs will be credited to your account when Rollins College receives the check from the awarding organization. If the Financial Aid Office has been notified of pending outside aid prior to the tuition due date, payment of that portion of your bill may be deferred until the actual check arrives.

ADJUSTMENTS AND WITHDRAWALS

If any changes in eligibility or funding cause a decrease in your award, the aid adjustment will be reflected on your student account. You will be notified of any aid adjustments and should feel free to contact our office if you have any questions.

If you must withdraw from Rollins during the school year, your financial aid will be adjusted according to federal and state regulations and Rollins College policy. Please refer to the Bursar's office publication, “Student Financial Information” to review the Return of Title IV Financial Aid Programs policy. You are encouraged to discuss the status of your financial aid prior to your withdrawal. If you withdraw prior to establishing final eligibility for your financial aid award, those awards will be canceled.

 RENEWING YOUR NEED-BASED AWARDS

Your financial aid is offered for this year only. You must apply for financial aid each year. The deadline for renewal applications will be April 15, 2013. It is your responsibility to obtain and complete the forms needed for renewal each year. Changes in your family's financial situation, your academic performance, and availability of funds will cause your financial aid award to change from year to year. Rollins' students are expected to graduate in four years and, therefore, financial aid is available for only four years. Transfer students are eligible based on the number of transfer hours. For example, students who transfer with two years of credit will have two years of financial aid eligibility at Rollins.

Accelerated Management Program students, you will be enrolled in an undergraduate course of study for the first four years. Renewal of aid as an undergraduate student will apply during that time. For the last year, you will be enrolled in a graduate course of study and graduate level federal financial aid programs will apply. The Crummer Graduate School of Business has scholarship and graduate assistantship programs for which you may be considered.

SCHOLARSHIP/GRANT INFORMATION AND RENEWAL CRITERIA

Rollins Alfond Scholarship: This is the top academic merit award on campus. Your scholarship is renewable provided you maintain at least a 3.6 cumulative grade point average and complete at least 24 semester hours each academic year while remaining enrolled in the Arts & Sciences program. If you do not meet the 3.6 cumulative grade point average, but maintain at least a 3.2 grade point average, you may receive an Alonzo Rollins Scholarship.

Alonzo Rollins Scholarship: This academic merit award is based on your outstanding academic record. Your scholarship is renewable provided you maintain at least a 3.2 cumulative grade point average and complete at least 24 semester hours each academic year and remain enrolled in the Arts & Sciences program. If you do not meet the 3.2 cumulative grade point average, but maintain at least a 3.0 grade point average, you may receive a Presidential Scholarship.

Dean's Scholarship: Students are selected through an interview process on the basis of academic merit and leadership potential. Your scholarship is renewable provided you maintain at least a 3.2 cumulative grade point average and complete at least 24 semester hours each academic year and remain enrolled in the Arts & Sciences program.

Donald Cram Scholarship: This academic merit award is based on your outstanding academic record and your plans to major in a physical science. Your scholarship is renewable provided you maintain at least a 3.2 cumulative grade point average, complete at least 24 semester hours each academic year, remain enrolled in the Arts & Sciences program, and maintain progress toward a declared major in: Chemistry, Physics, Computer Science, Biology, Biochemistry-Molecular Biology, Pre-engineering, or Mathematics.

Presidential Scholarship: This academic merit award is based on your academic record. Your scholarship is renewable provided you maintain at least a 3.0 cumulative grade point average and complete at least 24 semester hours each academic year and remain enrolled in the Arts & Sciences program.

Centennial Scholarship: This academic merit award is based on your academic record and community contributions. Your scholarship is renewable provided you maintain at least a 2.8 cumulative grade point average and complete at least 24 semester hours each academic year and remain enrolled in the Arts & Sciences program.

Rollins Grant: A Rollins program for full time students with demonstrated need and academic talent. Awards are made to Arts & Sciences students for up to four years. Students must complete the financial aid application process each year to be considered for this award. The amount of the award will vary each year depending on income and family circumstances.

Federal Pell Grant: A need-based federal grant program. Eligibility for this award is determined through the financial aid application process.

Florida Academic Scholars Award: This state scholarship is based on your academic record at a Florida High School . Your scholarship is renewable provided you maintain at least a 3.0 cumulative grade point average and complete at least 12 semester hours each academic year. If you do not meet the 3.0 grade point average requirement, but maintain at least a 2.75 grade point average, you may receive the Florida Medallion Scholarship.

Florida Medallion Scholarship and Vocational Gold Seal: These state scholarships are based on your academic record at a Florida High School . Your scholarship is renewable provided you maintain at least a 2.75 cumulative grade point average and complete at least 12 semester hours each academic year.

Florida Resident Access Grant: This state grant provides tuition assistance to Florida residents attending non-profit private colleges and universities located in the state of Florida. This grant is renewable provided you maintain at least a 2.0 cumulative grade point average and complete at least 24 semester hours each academic year.

Florida Student Assistance Grant: This state grant provides assistance to Florida residents who have financial need. This grant is renewable provided you maintain at least a 2.0 cumulative grade point average and complete at least 24 semester hours each academic year. Renewal of this award is also contingent on your level of need.

Who should I contact if I have questions about my financial aid award?

The Financial Aid Office has staff available to answer your questions from 8:30 am until 5:00 pm Monday through Friday. You may receive general information and check on your status at any time. Please refer to our website for more information and access financial aid forms at http://www.rollins.edu/finaid. If you need detailed advice or counseling, please schedule an appointment with a financial aid officer. Our telephone number is (407) 646-2395, or email us at finaid@rollins.edu.