Basic Financial Aid Information
We provide Information and resources for learning about the wide range of need-based and non-need-based aid options available, including eligibility requirements and how to apply, terms and conditions, criteria for selection and determining award amounts, and how and when aid is disbursed. If you receive Title IV HEA financial aid, it’s especially important to know your rights and responsibilities, how to maintain your eligibility, and how to make sure you fulfill your role as a responsible aid recipient.
Financial Aid Award Guide (PDF)
This publication provides an overview of aid information, including guidance on maintaining your eligibility, details on the methods and frequency of disbursements of aid, requirements for return of Title IV HEA aid due to withdrawal or leave of absence, and a statement regarding possible availability of financial aid for study abroad.
Applying for Aid through “the FAFSA”
Most types of aid require completion of the Free Application for Federal Student Aid (FAFSA). If you are a US Citizen, US Permanent Resident Alien, or qualified non-resident alien, we urge you to complete the FAFSA at www.fafsa.ed.gov. Our school code is 039574.
Satisfactory Academic Progress Policy (SAP)
In order to maintain eligibility for financial aid, you must be making satisfactory academic progress (SAP). SAP for financial aid is stricter than the requirements of the academic program. It is based not only on satisfactory completion of semester contracts and Independent Study Projects, but also on your pace to graduation within the limits of a maximum time frame for all work attempted. SAP status is reviewed after each semester. If you do not meet the standard at that time, your aid awards may be cancelled; however, there is an appeal process by which students can petition for their aid to be reinstated with an academic plan.
Financial Aid and Study Abroad
Enrollment in a program of study abroad approved for credit by the home institution (New College of Florida) may be considered enrollment in New College of Florida for purposes of applying for federal student financial aid. For details on this, and other types of financial assistance that may apply, contact the Office of Admissions and Financial Aid.
Gift Aid (Scholarships and Grants)
We encourage you to seek gift aid from a variety of sources and programs. New College coordinates an ambitious program of renewable institutional scholarships for new students; in addition, the College has some grant programs for enrolled students who may need additional financial assistance. Federal and state grants, state scholarships, and private scholarships, can also help to lower your costs.
Off Campus Funding
Florida Student Financial Aid
Search for Additional Scholarship Sources: Never pay a service to search scholarships for you! These are two free scholarship search sources:
Federal Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education (the Department) rather than a bank or other financial institution. They require a Master Promissory Note, which is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department. It also explains the terms and conditions of your loan(s).
New College participates in the Federal Direct Loan program for new loans; all new Stafford, Parent Loan for Undergraduate Students (PLUS), and Consolidation Loans come directly from the U.S. Department of Education under the Direct Loan Program. (Some enrolled students may already hold loans through the Federal Family Educational Loan Program, but this program is no longer available for new loans. Perkins Loans are not available at New College.)
Your Federal Student Loans- Learn the Basics and Manage Your Debt
Funding Education Beyond High School
Errata and Updates - Funding Education Beyond High School
Student Loan Code of Conduct
Federal Direct Loans
Federal Direct Loan Plain Language Disclosure
Terms and Conditions of Federal Direct Loans
Borrower’s Rights and Responsibilities
Master Promissory Note (MPN)
Consequences of Defaulting on a Direct Loan
Entrance Counseling for Student Loan Borrowers
Exit Counseling for Student Loan Borrowers
PLUS (Federal Parent Loans for Undergraduate Students)
PLUS Loan Terms and Conditions
Alternative loans are loans from a lending institution; they are not a part of the federal government guaranteed loan programs. Alternative loans are more expensive than Federal Direct Loans and should be used only when all other options have been exhausted.
New College of Florida provides part-time student employment through the New College Work Study (NCWS) program. The main objective of student employment programs is financial support, but on-the-job experience is also important. Ideally, students find jobs related to their interests, talents, and vocations and leave school with valuable work experience.
Withdrawal, Emergency Leave of Absence, Refunds, and Return of Title IV Financial Aid
Federal student financial aid penalties for conviction for possession or sale of illegal drugs