Florida Student Loans: How to Pay for College in Florida

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If you’re planning to attend a Florida college or university, then you might need the help of financial aid, scholarships, or Florida student loans to pay for it.

The cost of attendance in Florida will vary depending on the school you choose. For example, if you attend the University of Central Florida as a resident undergraduate, you’ll pay about $16,000 per year, while attending a private school like Nova Southeastern University could cost you upwards of $20,000 per year.

Here are three ways to pay for school in Florida:

1. Start with scholarships and grants for Florida students
2. Apply for federal student loans
3. Use private student loans to fill in the gaps

1. Start with scholarships and grants for Florida students

College scholarships and grants could be a great way to pay for college in Florida — mainly because they don’t have to be repaid, unlike student loans.

While there are national scholarships and grants available, be sure to consider local and Florida-specific options, too, since you’ll be competing against a smaller pool of applicants.

Here are a few options to look into:

• Florida Bright Futures Scholarship Program: This program provides four different renewable scholarships that could cover 75% to 100% of tuition and fees for Florida high school graduates.
• Florida Farmworker Student Scholarship Program: This need-based program covers the tuition and certain fees at public schools for up to 50 farmworkers (or their children) each year.
• Florida Student Assistance Grant Program: This program offers four renewable grant options to resident undergraduate students with exceptional financial need.
• Josí Martí Scholarship Challenge Grant Fund: Florida residents of Hispanic descent in need of financial aid could be eligible for this renewable $2,000 award.

If scholarships and grants don’t cover your full education costs, federal or private student loans could help fill any financial gaps.

However, keep in mind that unlike scholarships and grants, student loans will have to be repaid. Before you borrow, see what your estimated monthly loan payment will be using our student loan calculator below.

Learn More: On-Campus vs. Off-Campus Costs

2. Apply for federal student loans

After you’ve explored scholarship and grant options, taking out federal student loans could be a good next step if you need to borrow money for school.

This is because these loans come with federal benefits and protections, such as access to income-driven repayment plans and student loan forgiveness options.

To apply for federal student loans, you’ll need to submit the Free Application for Federal Student Aid (FAFSA).

Here are the main types of federal student loans available to Florida students:

• Direct Subsidized Loans are available to undergraduate students with financial need. The government covers the interest on these loans while you’re in school, which means you’ll have less to pay off when you begin repayment.
• Direct Unsubsidized Loans are available for both undergraduate and graduate students, regardless of financial need. Unlike subsidized loans, unsubsidized loans continue accruing interest while you’re in school.
• Direct PLUS Loans come in two forms: Grad PLUS Loans for students who need to pay for graduate school and Parent PLUS Loans for parents who want to cover their child’s education. Unlike other federal student loans, PLUS Loans require a credit check.

Check Out: When to Apply for Student Loans

3. Use private student loans to fill in the gaps

If you’ve exhausted your scholarship, grant, and federal student loan options, private student loans could help fill any financial gaps left over.

You might even be able to get a private loan with a lower interest rate than a federal loan, depending on your credit.

Private student loans generally require good to excellent credit to qualify.

While some lenders provide student loans for bad credit, these typically come with higher interest rates compared to those offered to borrowers with good credit.

If you decide to take out a private student loan, be sure to consider as many lenders as possible to find the right loan for you.

Credible makes this easy — you can compare your prequalified rates from our partner lenders in the table below in two minutes:

Lender	Fixed rates from (APR)	Variable rates from (APR)	Loan terms (years)	Loan amounts
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.16%+	1.49%+	5, 7, 10, 12, 15, 20 (depending on loan type)	$2,001 - $200,000
Fixed APR: 3.16%+ Variable APR: 1.49%+ Min. credit score: 540 Loan amount: $2,001 to $200,000 Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: 0.25% to 1.00% automatic payment discount, 1% cash back graduation reward Eligibility: Must be a U.S. citizen or permanent resident or DACA student enrolled at least half-time in a degree-seeking program Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Loan servicer: Launch Servicing, LLC
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.23%+1	N/A	5, 10, 15	$1,000 - $350,000 (depending on degree)
Fixed APR: 3.23%+1 Variable APR: N/A Min. credit score: 720 Loan amount: $1,000 to $350,000 Loan terms (years): 5, 10, 15 Loan types: Any private or federal student loan Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay, loyalty Eligibility: Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner) Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Firstmark Services
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.94%+2,3	0.94%+2,3	5, 8, 10, 15	$1,000 up to 100% of the school-certified cost of attendance
Fixed APR: 2.94%+2,3 Variable APR: 0.94%+2,3 Min. credit score: Does not disclose Loan amount: $1,000 up to cost of attendance Loan terms (years): 5, 8, 10, 15, 20 Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, immediate repayment, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Loan servicer: College Ave Servicing LLC
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.2%+	1.03%+	7, 10, 15	$1,000 to $99,999 annually ($180,000 aggregate limit)
Fixed APR: 3.2%+ Variable APR: 1.03%+ Min. credit score: Does not disclose Loan amount: $1,000 to $99,999 annually ($180,000 aggregate limit) Loan terms (years): 7, 10, 15 Repayment options: Full deferral, immediate repayment, interest-only repayment, flat/full repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Not available to residents of AZ, IA, or WI Customer service: Phone, email Soft credit check: Yes Cosigner release: After 36 months Loan servicer: American Education Services Min. income: Does not disclose
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.02%+7	2.2%+7	7, 10, 15	$1,000 - $200,000
Fixed APR: 3.02%+7 Variable APR: 2.2%+7 Min. credit score: 750 Loan amount: $1,000 to $200,000 Loan terms (years): 7, 10, 15 Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and have a minimum income of $30,000. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Granite State Management & Resources (GSM&R)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.75%+	N/A	10, 15	$1,500 or $2,000 up to school’s certified cost of attendance (depending on school type and minus other aid received)
Fixed APR: 3.75%+ Variable APR: N/A Min. credit score: 670 Loan amount: $1,500 up to cost of attendance less aid Loan terms (years): 10, 15 Repayment options: Full deferral, interest only, immediate repayment, academic deferral, forbearance Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 48 months Loan servicer: American Education Services (AES)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.5% - 12.6% APR9	1.13% - 11.23% APR9	10, 15	Up to 100% of the school-certified cost of attendance
Fixed APR: 3.5% - 12.6% APR9 Variable APR: 1.13% - 11.23% APR9 Min. credit score: Does not disclose Loan amount: $1,000 up to cost of attendance Loan terms (years): 10 to 15 Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner. Customer service: Phone, chat Soft credit check: Yes Cosigner release: After 12 consecutive on-time payments Loan servicer: Sallie Mae
Compare rates without affecting your credit score. 100% free! Compare Now
Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures

Learn More: How to Get Student Loans for Community College

Florida students have plenty of options to pay for college

Figuring out how to pay for college can feel like just as big of a hurdle as doing all of the work for your actual degree.

But remember that you have plenty of options to help you cover your education costs as a Florida student.

Be sure to start with aid you don’t have to repay (like scholarships and grants). After that, it’s usually a good idea to borrow federal student loans before considering private student loans.

If a private student loan seems right for you, remember to shop around and consider as many lenders as you can to find a loan that suits your needs.

Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.

Keep Reading: Teacher Student Loans

About the author

Lindsay VanSomeren

Lindsay VanSomeren specializes in credit and loans. Her work has appeared on Credit Karma, Forbes Advisor, LendingTree, and more.

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