To recruit students, Florida Polytechnic will offer generous scholarships
The board at Florida Polytechnic University hopes to entice Floridians to take a chance on the state's newest university by drastically subsidizing the cost of degrees for the initial class.
Full-time undergraduates will receive $5,000 scholarships for their first three years, enough to cover nearly all in-state tuition and fees, estimated at $5,029. The fourth year, the scholarship will decrease to $3,200. Graduate students will receive $9,300 scholarships for two years, about $2,000 shy of the costs of in-state tuition each year.
The scholarships aren't a done deal unless Polytechnic's fundraising arm raises the money. The school's foundation board has roughly a year to get enough cash in hand to dole out to the inaugural class when the school opens August 2014.
The chairwoman of the Polytechnic foundation board said in a press release that "the goal for the comprehensive campaign has not yet been determined," but the board is committed to the scholarship plan.
The Lakeland Ledger reported that the school may need to raise about $9 million to fund the first two years of the scholarships.
Students will still need to pay for their own housing, food and books -- costs that could still be a deterrent since Polytechnic won't be able to offer federal financial aid until it earns accreditation. That isn't expected to happen until 2016 at the earliest.