The amount presented for Federal Perkins Loans with continuing compliance requirements consisted of the following: Loan Balance outstanding at May 31, 2024 $ 206,933 Loan receipts, cancellations and assignments (47,821) Loan Balance outstanding at May 31, 2025 $ 159,112 The College also participates in the Federal Direct Loan Program, including Federal Stafford Loans (Stafford) and Federal PLUS Loans (PLUS). The dollar amounts are listed in the schedule of federal awards although the College is not the recipient of the funds. Such programs are considered a component of the student financial assistance cluster. Loans processed by the College under this Loan Program were the following for the year ended May 31, 2025: Federal Direct Loan Program: Stafford: Subsidized $ 5,079,673 Unsubsidized 10,249,339 PLUS 11,302,594 $ 26,631,606
Below is a summary of significant features and applicable statutes and rules of importance to the administration of the Florida Student Financial Assistance Programs at Florida Southern College. Effective Access to Student Education Grant (EASE): The EASE grant provides financial assistance to Florida undergraduate students attending independent nonprofit Florida colleges or universities. It is a nonrepayable grant available to one-year residents of Florida. The EASE grant is not based on need. A student may receive EASE for a maximum of nine undergraduate semesters. The amount to be awarded to each applicant will be determined by the state of Florida. EASE is a tuition and fee grant; therefore, the amount of EASE plus all other scholarships and grants specifically designated for payment of tuition and fees cannot exceed the total amount of tuition and fees charged by the institution. EASE is authorized by Section 1009.89, Florida Statutes. Florida Student Assistance Grant Fund (FSAG): The FSAG is a non-repayable grant awarded only on a need basis to one year residents of Florida. A student may receive the FSAG for a maximum of nine undergraduate semesters. The amount to be awarded to each applicant will be determined by the State of Florida. FSAG is authorized by Section 1009.50-1009.52, Florida Statutes. Florida Medallion Scholars Award (FMSA): The applicant should be a Florida resident and should be accepted and enrolled in an eligible Florida public or independent postsecondary education institution. The applicant should complete a Bright Futures Scholarship Program Student Authorization Form by spring high school graduation. The amount to be awarded to each applicant will be determined by the State of Florida. The FMSA is authorized by Section 1009.53, Florida Statutes. Florida Academic Scholars Award (FASA): The FASA is a State of Florida scholarship under the Florida Bright Futures Scholarship Program which provides certain qualified, first-time-in-college, full-time, undergraduate students with assistance in paying for the costs of education. FASA is available only to Florida residents attending eligible colleges and universities located in the State of Florida. The amount awarded to each applicant will be determined by the State of Florida. FASA is authorized by Section 1009.53, Florida Statutes. Children and Spouses of Deceased or Disabled Veterans (CSDDV): The applicant must be a dependent child or un-remarried spouse of a Florida veteran or service member who died as a result of service connected injuries, diseases, or disabilities sustained while on active duty or have been verified by the Florida Department of Veterans Affairs as having service connected 100% total and permanent disabilities. Veterans must have been Florida residents at the time of death or determination of 100% disability. The applicant must enroll in an eligible post-secondary institution at least half-time. Jose Marti Scholarship Challenge Grant: The applicant must be a Florida Resident and a U.S. Citizen or eligible non-citizen. Applicant should be enrolled as a degree-seeking student in an eligible post-secondary institution and not owe a repayment or be in default under any state or federal grant, loan, or scholarship program. The Jose Marti Scholarship is authorized by Section 1009.72, Florida Statutes. Florida Fund for Minority Teachers (FFMT): Provides financial assistance to minority undergraduate students for up to three undergraduate years. This scholarship shall be made available to eligible students entering programs of study that lead to a degree in a teaching position.
The populations were provided by the Bureau of Auditing Services, Florida Department of Education. Samples were determined using State of Florida Administrative Code guidelines provided in Rule 6A-20.0021. A random sample of 50 award recipients or 25%, whichever is less, but no less than 10 award recipients or 100% of the recipients if less than 10, were chosen for each program. Students were classified as ineligible, if our examination of supporting documentation disclosed instances of noncompliance with eligibility criteria. Awards were classified as questioned costs, if our examination disclosed one or more of the following conditions: awards made to ineligible students, awards for which supporting documentation was missing, and awards, or the portions thereof, not properly credited to students’ accounts.