Florida International University has launched a new program that promises to pay 100% of tuition and fees for students who cannot afford college.
The scholarship is called the Golden Promise.
FIU says beginning with the 2017 freshman class, the Golden Promise will cover gaps in financial aid so that students can take 30 credit hours a year and earn a bachelor's degree in four years. Students must register full-time, at least 12 hours per semester and must maintain a 2.0 GPA.
“FIU’s Golden Promise removes economic barriers for students who are academically qualified and ready to work hard at FIU. We want them to be successful and graduate in four years,” said FIU President Mark B. Rosenberg.
Eligible students must be, U.S. citizens or permanent residents, Florida residents and have an Expected Family Contribution (EFC) of $0 on the Free Application for Federal Student Aid (FAFSA).
FIU awards "priority" financial aid to those who submit the FAFSA by March 1. Students have until June 30 to apply, but officials say the earlier you file the more money you may receive and the sooner you'll know how much money you're entitled to.
The students who meet the requirements typically come from families that earn less than $33,000 a year.
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“Many of our students cannot afford to take classes in the summer, which is crucial to timely graduation,” said Vice President for Enrollment Management Luisa Havens. “We are going to find the scholarship money so that these hard-working students can graduate as soon as possible, be debt-free and go to work.”
The Office of Financial Aid estimates that approximately 1,200 freshmen will be the beneficiaries of the Golden Promise in 2017.
