Florida Student Debt Letter Legislation

Florida Legislation Recap

Florida passed student debt letter legislation in June 2017, requiring post-secondary schools that disburse state financial aid to annually notify student loan borrowers about their federal indebtedness.

What information must schools report in order to meet the requirements of the law?

The notification must include estimates of:

The student’s total amount of borrowed student loans, not limited to what they received at the current school.
The student’s total potential loan repayment amount, including principal and interest, for the total amount of borrowed student loans.
The student’s monthly loan repayment amounts for the total amount of borrowed student loans at the time the institution provides the student loan information.
The percentage of the borrowing limit that the student has reached at the time the information is provided.

Are there any additional requirements or statements?

No.

Here's how to navigate it

Student debt letters are a great way to help you retain the students you've worked so hard to enroll. But for an already overworked staff, debt letter legislation can feel like just one more area requiring compliance. Our free downloadable resources can help you find your way!

How have your peers tackled student debt letters?

We surveyed schools mandated to send debt letters to learn how they tackled the task.

This summary report shares valuable insight!

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Where does the debt letter data come from?

College Cost Meter uses a school-generated file and NSLDS data that we collect to provide your students with the personalized financial aid details you want them to know. Our high-touch support makes debt letters easy. We'll work with you to:

Create your School College Cost Meter File
Help customize your debt letter to meet your student success goals
Perform a test to ensure it's working great

Download our Quick Guide for Florida

The Quick Guide for Florida helps schools navigate the School College Cost Meter File layout. It identifies the fields (in accordance with state requirements) that a school will need to populate in creating their School College Cost Meter File.