ORLANDO, Fla. (WOFL FOX 35) - The University of Central Florida on Friday announced a record-breaking $40 million in extra funding for student aid.
The program is called the Constellation Fund, an initiative that adds money to existing institutional aid at UCF. President Dale Whittaker designed the program because of his belief that income should not be a predictor of a student’s ability to earn a college degree.
The school is hoping the fund will cut down student debt, while also allowing students to reduce work hours to focus on academics. Students at Friday’s graduating ceremony were thrilled at the idea.
“For me, that was one of the bigger challenges. There were points where I was working two, even three jobs while going to school full time,” said Raven Neal, psychology graduate.
Students do not need to contact the financial aid office to receive this aid. The University will use data analytics to identify students who are eligible for these funds and contact them directly after February 1. Some scholarships will be awarded as early as Spring 2019.
“I think UCF doing that is invaluable,” said graduate Madion Eessette. “It’s something that will carry through them for the rest of their [the students] lives.”