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ERIC Number: ED499999
Record Type: Non-Journal
Publication Date: 2007-Jan-11
Pages: 4
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Bright Futures and Florida Prepaid Plans Cover Costs of Tuition Increases for Many Students; the Impact Varies by Institution. Information Brief. Volume 4, Issue 3
Florida Board of Governors, State University System
Bright Futures is a Florida-state-funded scholarship program that pays either 75% or 100%, depending on the scholarship level, for up to 132 credits hours in a 120-credit-hour program. Prepaid plans are purchased for a student prior to their attending college, and usually when the future college student is a young child. The plans guarantee the student 100% of tuition for up to 120 credit hours. This Information Brief reports that: (1) 42% of state university system (SUS) undergraduates have Bright Futures scholarships covering 75-100% of tuition and fees; (2) 15% of SUS undergraduates use Prepaid tuition plans purchased on their behalf that cover 100% of tuition and fees; (3) 47% of undergraduates have Prepaid tuition, Bright Futures or both; (4) Tuition and fees account for approximately 25% of the average cost of attendance; (5) Some students qualify for additional aid based on need; and (6) 20% of Bright Futures scholarship recipients and 12% of Prepaid beneficiaries qualified for Federal Pell Grants of up to $4,000. Because both Bright Futures and Prepaid programs are directly linked to tuition, students with either Bright Futures or prepaid plans pay little or nothing out of pocket when tuition increases. However, students without these benefits must absorb the increases with additional family resources, earned wages, or financial aid not directly linked to tuition. (Contains 1 figure and 1 table.) [This Information Brief was produced by the Florida Board of Governors.]
Florida Board of Governors, State University System. 325 West Gaines Street Suite 1614, Tallahassee, FL 32399. Tel: 850-245-4545; Fax: 850-245-9667; Web site: http://www.flbog.org/
Publication Type: Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Florida