Offering replacement aid at University of Central Florida for students impacted by increased criteria and reduced funding for state scholarships
Challenge
How might financial aid be targeted to help students facing hardship as a result of reduced state-funded scholarships?
Strategy
Established a replacement fund through the Bright Futures Replacement initiative to maintain access for affected students after the Bright Futures state scholarship was cut back following the financial crisis.
Outcome
From FY13-15, Florida increased the eligibility criteria for Bright Futures scholarships—state level, merit-based scholarships designed to support high school graduates to pursue higher education through two types of grants—to cut back funding, resulting in 26% fewer students receiving Bright Futures aid and total disbursements declining by 23%. As a response in FY15, UCF established their replacement initiative, restoring the original Bright Futures eligibility requirements and the same level of funding to ensure continued access to UCF for students facing financial hardship. Since FY15, 2,264 UCF students have benefited:
- 2,123 awards were given to 1,222 students in 2014-15
- 1,777 awards were given to 1,042 students in 2015-16
- Approximately $3.2M (~50% of institutional aid for FTIC) has been disbursed annually since FY15 and will continue to recur
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Institution
Enrollment
71,948
Pell Recipients
31%
Students of Color
54%
Net cost of Attendance
$22,849 (in-state)
