Florida Student Loans: How to Pay for School

Students who attend a Florida college or university have several options when it comes to paying for school. Many students turn to federal student loans, but there are other sources of financial aid available. Alternatives include grants, scholarships, and private student loans.

Here's a closer look at how much it costs to attend school in Florida and how to pay for your education.

College costs in Florida

The cost to attend college in Florida varies depending on the type of school you attend, whether you're a state resident and other factors.

According to a College Board report, the average published tuition and fees for full-time in-state students at public four-year institutions in Florida was $6,370 during the 2021-22 academic year.

Tuition isn't the only cost you’ll face as a college student. Other expenses include:

• Student fees
• Housing
• Dining
• Books and supplies
• Personal expenses
• Transportation

Also, this is only for one year of school in Florida. The cost increases significantly for students completing four years or more at a Florida college.

Public and state schools in Florida

Below is a table of total estimated costs for the largest public universities in the state: The University of Florida (UF) and Florida State University (FSU).

	UF residents	UF non-residents	FSU residents	FSU non-residents
Tuition/fees	$6,380	$28,658	$5,666	$18,796
Housing	$5,800	$5,800	$6,988	$6,988
Books/supplies	$810	$810	$1,000	$1,000
Food	$4,600	$4,600	$4,484	$4,484
Transportation	$1,120	$1,120	$1,120	$2,236
Personal	$2,720	$2,720	$4,228	$4,228
Total	$21,430	$43,708	$23,486	$37,732

If you graduate from either school with a four-year degree, the total cost would be approximately $85,720 to $93,944 for in-state students, and $150,928 to $174,832 for out-of-state students. If you're attending graduate school in Florida, too, the cost could easily climb to $200,000 or $300,000.

Private schools in Florida

There are several private colleges and universities in Florida that offer quality educational programs. Perhaps the most famous Florida private school is the University of Miami. Below is a snapshot of undergraduate costs for students living on campus during the 2021-22 academic year.

University of Miami	On-campus costs
Tuition	$53,112
Fees	$1,648
Housing & meals	$15,880
Books/supplies	$1,000
Transportation	$1,400
Personal	$2,190
Total	$75,230

Graduating with an undergraduate degree from the University of Miami could cost you more than $300,000. The total cost of attendance for a graduate student at the University of Miami is $71,046 for the 2021-22 academic year.

How to pay for college in Florida

The first step to receiving any kind of federal financial aid is to fill out and submit the Free Application for Federal Student Aid (FAFSA). Schools use your FAFSA to determine your eligibility for aid. Below are some of the ways Florida college students can pay for their education.

Scholarships

Scholarships are one of the best ways to pay for school. That's because they’re essentially free money to use toward college expenses. They’re monetary gifts and don't need to be repaid. Scholarships typically fall into one of the following categories:

• Merit-based
• Athletic
• Need-based
• Group-based
• Career-based

There are national, state and local scholarships. Searching locally and within Florida-based scholarship programs will help narrow down the competition for scholarships, considerably. Here are some scholarships available to Florida residents:

• Florida Bright Futures Scholarship Program
• Florida Farmworker Student Scholarship Program
• Mary McLeod Bethune Scholarship Program
• Minority Teacher Education Scholars Program

Always read the scholarship requirements before applying to confirm your eligibility. You can find more Florida scholarships on the Florida Department of Education's Office of Student Financial Assistance and through your school's financial aid office.

Grants

Grants are another type of financial aid that typically don't need to be repaid, although there are some exceptions. For instance, if you don’t complete your grant service obligations or drop out of school, you might have to repay grant funds.

There are four primary grants available through the federal government:

• Federal Pell Grants
• Federal Supplemental Educational Opportunity Grants (FSEOG)
• Iraq and Afghanistan Service Grants
• Teacher Education Assistance for College and Higher Education (TEACH) Grants

Federal grants are need-based. Eligibility is determined by information on your FAFSA.

You can also find grants through your state government, school, and private and nonprofit organizations. Grants available for Florida residents include:

• First Generation Matching Grant Program
• Florida Student Assistance Grant Program
• Josí Martí Scholarship Challenge Grant Fund

Depending on your career path, there are also grants to pay off student loans after you graduate.

Federal student loans

If you need student loans to pay for school, always start with federal student loans. Loans from the federal government (via the Department of Education) provide benefits and protections that aren’t available with private student loans, including:

• Income-driven repayment (IDR) plans
• Loan deferment and forbearance
• Public Service Loan Forgiveness
• Other student loan forgiveness programs

Federal student loans are awarded based on financial need that’s demonstrated on your FAFSA. There are three main types of federal loans available:

Direct Subsidized Loans. With subsidized loans, the government covers the interest while borrowers are in school as long as they attend at least half-time. Direct Subsidized Loans are awarded based on need.

Direct Unsubsidized Loans. Direct Unsubsidized Loans are available for undergraduate and graduate students. They’re awarded regardless of financial need. Borrowers are responsible for interest that accrues on unsubsidized loans while enrolled in school.

Direct PLUS Loans. There are two types of PLUS Loans available. Grad PLUS Loans are for graduate and professional students. Parent PLUS Loans are for parents who want to cover the cost of their child's education. PLUS Loans are the only federal loan subject to a credit check.

Depending on your situation, you might need a mix of subsidized and unsubsidized federal student loans to cover your Florida education costs.

Private student loans

Private student loans are typically used to bridge the gap financially after maxing out federal financial aid. You can often apply for a private loan through private lenders, banks, credit unions and other financial institutions. Many private lenders let you borrow up to 100% of your school’s cost of attendance.

Private student loans aren't awarded based on financial need. Unlike federal loans, private loans are subject to a credit check. Individuals who meet credit score, credit history, income and other requirements. Private loans can offer competitive, low interest rates to qualified borrowers.

Most private lenders allow you to check rates before applying without it negatively impacting your credit score. Once you actually apply, the lender performs a hard credit check, which can temporarily drop your credit score.

Most college students haven't had enough time to build up their credit enough to qualify for a private loan on their own. Many private lenders will allow borrowers to use a cosigner with good credit to qualify for a loan.

A student loan cosigner is typically someone you have a close relationship with, like a parent, grandparent, spouse, or close friend. Use caution when using a cosigner to secure a private student loan. If can’t repay your loan payments, your cosigner is legally on the hook, financially. Make sure that you can responsibly make payments before considering a cosigner.

Federal work-study programs

If you're not offered unsubsidized loans or grants by your school, you might receive another option — the federal work-study program. Through the work-study program, you’ll work a part-time job that provides money to pay for educational expenses. Availability depends on if your school participates in the program and where you've displayed a financial need.

Typically, students work an on-campus job or off-campus job related to their field of study. Contact your school's financial aid office to see if your school participates and more details on the program.

Work while attending school

Of course, you can always get a part-time job while studying toward your college degree. You can find jobs on campus, off campus or online. Working a part-time job likely won't cover all of your college expenses, but can help reduce how much you borrow each academic year. It can also help you cover the interest on a private loan that’s set up for “interest-only” payments.

Get help planning for Florida student loan repayment

If you plan to attend college in Florida, you might end up using a combination of the options above to pay for school. Whether you're planning to attend school in Florida soon or have already graduated, we can help you find the right repayment plan to pay off student loan debt. We've consulted on $1.44 billion of student debt. We can help you find the right way to navigate your Florida student loans.