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Florida Student Loans: How to Pay for College in Florida

There are several ways to pay for school in Florida, including grants, scholarships, federal student loans, and private student loans.

Lindsay VanSomeren Lindsay VanSomeren Edited by Ashley Harrison Updated December 2, 2021

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

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.

Tip: The Office of Student Financial Assistance of the Florida Department of Education is a great place to start your search.

You can fill out one application — the Florida Financial Aid Application (FFAA) — to apply for multiple scholarships and grants.

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.

Enter your loan information to calculate how much you could pay

? Enter the total amount borrowed $
? Enter your annual interest rate %
or
? Enter the amount of time you have to repay your loan years
Total Payment $
Total Interest $
Monthly Payment $

With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan, assuming you're making full payments while in school.


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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).

Keep in mind: Federal student loans can be used for any post-secondary institution that participates in the federal student aid program. This includes traditional colleges and universities as well as online colleges and some trade schools.

For-profit coding bootcamps typically aren’t eligible for federal aid.

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.
Loan typeWho qualifies?
Interest rates
(2022-23)
Loan limits
Direct Subsidized LoansUndergrad students with financial need4.99*$3,500 to $5,500 per year
Direct Unsubsidized LoansUndergrad, graduate, and professional studentsUndergrad: 4.99%*

Graduate and professional: 6.54%*
Dependent undergrad: $5,500 to $7,500 per year ($31,000 total limit)

Independent undergrad: $9,500 to $12,500 per school year ($57,500 total limit)

Graduate and professional: $20,500 per year
($138,500 total limit)
Direct PLUS LoansParents, graduate students, and professional students7.54%*Cost of attendance minus any other financial aid received
*Federal student loan rates for the 2022-23 academic school year.
Tip: Filling out the FAFSA will also let you know if you’re eligible for other financial aid programs, such as federal Pell Grants and school-specific scholarships. This federal aid could help you pay for a variety of educational expenses, including tuition, college housing, and more.

Even if you don’t think you’re eligible for financial aid, be sure to submit the FAFSA. You might be surprised to find you qualify for some form of aid.

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.

Keep in mind: If you’re considering private vs. federal student loans, remember that private loans don’t offer the same protections as federal loans. Any benefits offered are at the discretion of the lender.

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.

Tip: If you can’t get approved for a private student loan, another option is applying with a cosigner. Most private student loans are actually cosigned — which makes sense considering that many undergraduate students have little to no credit yet.

Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own.

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:

LenderFixed 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
4.62%+10 5.74%+10 5, 7, 10, 12, 15, 20
(depending on loan type)
$2,001 - $400,000
  • Fixed APR: 4.62%+10
  • Variable APR: 5.74%+10
  • Min. credit score: Does not disclose
  • Loan amount: $2,001 to $400,000
  • 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 12 on-time principal and interest payments
  • 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
4.99%+1 4.89%+ 5, 10, 15$1,000 - $350,000
(depending on degree)
  • Fixed APR: 4.99%+1
  • Variable APR: 4.89%+
  • 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
4.49%+2,3
4.49%+2,3 5, 8, 10, 15$1,000 up to 100% of the school-certified cost of attendance
  • Fixed APR: 4.49%+2,3
  • Variable APR: 4.49%+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

custom choice

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
3.65%+ 5.46%+ 7, 10, 15$1,000 to $99,999 annually
($180,000 aggregate limit)
  • Fixed APR: 3.65%+
  • Variable APR: 5.46%+
  • 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: Available to borrowers in all 50 states. Must be a U.S. citizen or permanent resident.
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Cosigner release: After 36 months
  • Loan servicer: American Education Services
  • Min. income: Does not disclose

edvestinu student loan refinance

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
7.52%+7 6.89%+7 7, 10, 15$1,000 - $200,000
  • Fixed APR: 7.52%+7
  • Variable APR: 6.89%+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
4.89%+ N/A10, 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: 4.89%+
  • 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
4.509 - 14.83%9 5.37%9 - 15.709 10 to 20$1,000 up to 100% of the school-certified cost of attendance
  • Fixed APR: 4.509 - 14.83%9
  • Variable APR: 5.37%9 - 15.709
  • Min. credit score: Does not disclose
  • Loan amount: $1,000 up to 100% of school-certified cost of attendance
  • Loan terms (years): 10 to 209
  • Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee, non-sufficient funds (NSF) 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: Borrowers can apply after graduation, 12 consecutive on-time principal and interest payments, and meeting certain credit requirements.
  • Loan servicer: Sallie Mae
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 10Ascent Disclosures | 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.

Keep in mind: Most student loan borrowers end up with a mix of both federal and 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.

Compare student loan rates from top lenders

  • Multiple lenders compete to get you the best rate
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  • Finance almost any degree

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Keep Reading: Teacher Student Loans

About the author
Lindsay VanSomeren
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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