How Aid Works

How Aid is Determined

Financial Aid offer determinations have an order of operations, but it’s a bit more complicated than PEMDAS. Here’s how it works:

Cost of Attendance (COA)- Student Aid Index (SAI)-Scholarships-Grants-Subsidized Loan-Work Study = Unmet Need.

Unsubsidized loans, Parent PLUS loans and/or private student loans can be used to cover any remaining unmet need.

Clear as mud, right?

Let's look at a couple of examples. Keep in mind, these examples are not necessarily what you will see in your financial aid awards--they are representative of a Florida Resident with an SAI of $0 who was awarded a Florida Tech Academic Scholarship. If you're more interested in what your aid might look like, check out our Net Price Calculator.

Example 1

Let’s say Pete is attending Florida Tech and majoring in Computer Software Engineering. He’s done his FAFSA and he has an SAI of $0. He’s a Florida Resident and he’s going to stay here on campus. He’s a great student and was awarded the highest academic scholarship Florida Tech offers, as well as the Florida Bright Futures Academic Scholarship. Here’s how we’d determine his Financial Aid:

Type	Amount
COA	$63,900
SAI	- $0
Scholarships	- $24,000 Florida Tech Scholarship - $6,360 Bright Future Academic Scholarship
Grants	- $7,395 Pell - $3,500 EASE (FRAG)
Subsidized Loan Funds	- $3,500
Work Study Funds	- $2,000
Initial Unmet Need	= $17,145

Since Pete has unmet need and we have funds left in our budgets for additional need-based aid, we can award him the Florida Student Assistance Grant (FSAG), the Federal Supplemental Educational Opportunity Grant (FSEOG), and the Florida Tech Grant.

Type	Amount
Unmet Need	$17,145
	- $1,000 Florida Student Assistance Grant - $1,000 Federal Supplemental Education Grant
	-$5,000 Florida Tech Grant
Remaining Unmet Need	$10,145

Unsubsidized loans, Parent PLUS loans and/or private student loans can be used to cover any remaining unmet need.

Example 2

So let’s say Pete is a lucky Panther, and he’s awarded a $1,000 external scholarship from the SSPA (Super Smart Panther Association of Nowheretown). Here’s what that would do to his aid calculation:

Type	Amount
Budget	$63,900
SAI	- $0
Scholarships	- $21,000 Florida Tech Scholarship - $6,360 Bright Futures Academic Scholarship - $1,000 Super Smart Panther Association of Nowheretown
Grants	- $7,395 Pell - $3,500 EASE (FRAG)
Subsidized Loan Funds	- $3,500
Work Study Funds	- $2,000
Initial Unmet Need	= $19,145

Since Pete still has unmet need and we have funds left in our budgets for additional need-based aid, we can award him the Florida Student Assistance Grant (FSAG), the Federal Supplemental Educational Opportunity Grant (FSEOG), and the Florida Tech Grant.

Type	Amount
Unmet Need	$19,145
	- $1,000 Florida Student Assistance Grant - $1,000 Federal Supplemental Education Grant
	-$5,000 Florida Tech Grant
Remaining Unmet Need	$12,145

Unsubsidized loans, Parent PLUS loans and/or private student loans can be used to cover any remaining unmet need.

Curious what your aid determination looks like? Check out our Net Price Calculator.

Reviewing Your Bill

All students can view their charges and account balance (account details) through their PAWS Account by logging in and clicking PAWS>Student>Payment/Student Account Information and selecting the term in question (for example, if you are main campus, you might select Fall 2024) then submit. The page will have the following details:

Net term balance: the balance for the term selected on the dropdown list on the previous page.

Net Balance for Other Terms: the balance carried over from terms other than the term selected on the dropdown list on the previous page.

Account Balance: the total balance for the current and previous terms.

Current amount due as of (date): The amount due as of the date listed, which is the due date for the term you selected (i.e. Fall 2024). This amount may differ than the current account balance, as it may not include charges for a future term because that term’s payment is due at a later date.

Authorized Financial Aid as of (date): this section will only include aid authorized for the term you’ve selected. For example, if you select Fall 2024 (8-Week Term 2), and you are a Main Campus student, you will not see any aid listed, because you are not enrolled in that term. Main Campus students would select Fall 2024. Authorized aid is aid that is ready to disburse on the due date listed.

Account Balance net of Authorized Financial Aid: the total balance for the current and previous terms, less the selected term’s authorized financial aid.

Current Due net of Authorized Financial Aid: the total balance due for the selected term, less the aid authorized for the selected term.

Memos as of (date): this section will only include aid memoed for the term you’ve selected. Memoed aid is aid that is pending, but is not yet authorized to disburse. In most cases, the student has outstanding Financial Aid requirements that they need to complete, or this aid will not pay to their account. If you see aid here, check your Financial Aid Account or .

Account Balance net of Authorized Financial Aid and Memos: the total balance due for the selected term, less the aid authorized and memoed for the selected term.

The Student Accounting Office also sends a statement each month to students who have had account activity (changes to their account balance) within the last 30 days. Students may contact Student Accounting to request an invoice (sometimes these are needed for 529 accounts, external scholarships or other purposes).

Still have questions about your bill? You can view frequently asked questions, visit the Student Billing page or .

How Aid is Disbursed

Florida Tech's students are billed by term and their aid is disbursed by term. Financial Aid funds disburse to a student’s account so long as they are admitted, enrolled (note your enrollment requirements for your aid, which can be found in your Terms and Conditions in PAWS) and have no outstanding Financial Aid Requirements.

If your balance is zero when your aid disburses there is nothing more you need to do.
If your aid has disbursed and there is still a remaining balance you need to:
- Make satisfactory payment arrangements by the due date
- Sign up for the and ensure all payments are made in a timely manner
- OR
- Contact us for help with additional aid options
If your financial aid is more than your charges and you have a credit balance. Credit balances are to students via check or at the end of the second week of classes (within 14 days). Students do have the option to move credit balances to their Panther Card to use at the campus bookstore, or to their flight account. Students may go to the Student Accounting/Cashier window in the L3Harris Commons building to fill out the transfer request.