Financial Aid Eligibility
To be eligible for any type of Federal, State or Institutional financial aid you must adhere to the following requirements:

• Be a U.S. citizen or eligible non-citizen.
• Have a valid social security number.
• Be admitted into a degree-seeking program.
• Maintain satisfactory academic progress (a 2.0 or higher GPA).
• Enroll in courses that apply to your primary degree program.
  *Other eligibility requirements may apply.

How to Apply for Financial Aid

• Complete a FAFSA, the at studentaid.gov.
• Complete the application based on the appropriate term:
  • For the terms Fall 2025/Spring 2026/Summer 2026, the 2025-2026 FAFSA form 
  • The 2026-2027 FAFSA will be available October 1, 2025.
• The College’s Federal school code is 001485.

What Happens Next?

• Completed FAFSAs are processed and transmitted electronically to the college within a few business days.
• If your application is selected for VERIFICATION, additional documentation will be required. The College will notify you by email regarding the necessary documents.
• You can view outstanding financial aid requirements in your Student Self-Service account.
  If selected for verification, you will need to request a Tax Return Transcript from the IRS using one of the following methods:
  • Telephone (1-800-829-1040)

Help! 

• Financial aid staff are available to provide assistance:
• Email: financialaid.cfk.edu 
• Phone: 305-809-3523.

Student types:

Dependent Students (Under 24, not married, no children, no military service)
Independent Students (Over 24, married, has children, served in the military)

Students who are selected for verification must request a Tax Return Transcript from the IRS. There are three ways to request a free tax return transcript:

1.  

2.   Telephone 1-800-829-1040

3.   -This is the only way to request that a transcript is sent to an address other than the address used on the original tax return.

Once verification is complete on a student file, the appropriate Federal Financial Aid may be applied.  Award letters are periodically created and emailed to students. 

FAFSA assistance

If you are enrolled in courses and your financial aid exceeds your charges, you can use the excess to buy books at the CFK Bookstore.

• Voucher Limits:
• Up to $600 for most students
• Up to $900 for Nursing students

To use your Book Voucher:

1. Have your class schedule and student ID ready.
2. If you are in the Lower Keys, visit the Key West Campus bookstore to avoid shipping costs.
   For more information about Book Vouchers, visit the CFK Bookstore or call 305-809-3241.
   CFK’s Business Office will apply your voucher amount to your student record. If you have questions about charges, contact the Business Office at 305-809-3186. Any unused voucher amounts will be refunded to you.

Important Note: If you lose some or all of your Financial Aid eligibility after receiving a voucher, the voucher amount may be reduced or canceled. If you have used the voucher, you will be billed for any outstanding balance.

Lagoon Landing.
Use the Net Price Calculator to estimate your cost of attendance based on your residency and living accommodation.

Federal Direct Loans are funds that students apply for and must repay.
Application: Requires a completed FAFSA.
Types of Loans:

• Subsidized: No interest accrues while the student is enrolled at least half-time.
• Unsubsidized: Interest accrues while the student is in school.

Eligibility:

• Students must be enrolled in at least 6 credit hours.
• Loans for courses starting later in the term will not be disbursed until the student meets the 6-credit hour requirement.
• Repayment: Begins 6 months after leaving school.

Parent PLUS Loans: Available for parents to fund their child’s education. A completed FAFSA is required for eligibility.

For more information, visit

Answers to most financial aid questions can be found at

• Withdrawal Impact: If you withdraw from classes or stop attending before completing 60% of the term, your financial aid eligibility will be recalculated based on the percentage of the term completed. You may be required to return some, or all the aid received.
• Unofficial Withdrawals: If you stop attending without officially withdrawing, or if you fail all courses, you may be treated as an unofficial withdrawal.

For details on how withdrawals or lack of attendance affect financial aid, please visit the Student Handbook.

Financial Aid Satisfactory Academic Progress (SAP)

To qualify for financial aid, students must maintain satisfactory academic progress (SAP) toward their degree or certificate. SAP is evaluated at the end of each semester (fall, spring, summer).

SAP Statuses:

• Financial Aid Warning (WARN): Students who fail to meet SAP criteria will receive a one-term warning.
• Financial Aid Suspension (SUSP): If SAP is not met after a warning, aid is suspended.
• Maximum Timeframe (MAXHRS): Students must complete their program within 150% of the required credit hours.

Appeal Process:
Students facing extenuating circumstances can appeal by submitting supporting documentation. Approved appeals require adherence to an academic plan.

For details on how satisfactory academic progress affects financial aid, please visit the Student Handbook.

Participation Reporting

A process that occurs every semester to determine whether a student participates in class. Failure to participate can result in a withdrawal for non-participation status.

Census Day: The date when Financial Aid reports information to Federal Student Aid. This process occurs once per semester. Students who register for class after this date may not receive a Pell Grant for that Semester. Students who enroll in later-starting courses, such as those in Session B or other nontraditional programs, Pell Grants should be awarded as needed beyond the Census Date

Office of Financial Aid/VA:

• Phone: 305-809-3523
• Email: financialaid@cfk.edu