FINANCIAL ASSISTANCE

Financial assistance is available to students attending technical colleges, community colleges, four-year colleges and universities through various scholarships, student loans, work-study programs, and grants. Grants and scholarships do not have to be paid back. Work-study allows one to work and earn money for education. Loans allow one to borrow money for school and must be repaid. Most financial assistance awards are based on student's financial need. Need is defined as the difference between the student's educational costs (tuition, fees, room, board, supplies and miscellaneous expenses) and the amount the student and his/her family can be expected to contribute toward those expenses.

All students applying for federal financial assistance must submit a Free Application for Federal Student Aid (FAFSA). Applications are available from high school counselors, college financial aid offices and can also be completed online. It is very important to apply early, even before admission to a specific school. The application should be submitted as soon as possible after January 1 of the year for which you are seeking financial assistance. In a few weeks you will receive copies of your Student Aid Report (SAR papers). This SAR will indicate whether you are eligible for a Pell Grant and will also be used to determine other types of financial aid. Eligibility is determined one award year at a time. Because financial circumstances can change greatly from year to year, one must complete an FAFSA application each year.

Scholarships: Scholarship availability and eligibility requirements are different in each educational institution. Scholarships are often based on academic performance, but that is not always the case. Some scholarships are awarded based on financial need, and some are not. Check with the financial assistance office for the individual school for available scholarships. This information is often posted on the school's web site also. Community organizations may also offer scholarships.

The Kentucky Educational Excellence Scholarship (KEES) is a new program administered by the Kentucky Higher Education Assistance Authority. Students who make good grades (C+ and above) can earn scholarships for higher education. The better the grades, the more a student will earn toward scholarships. Students who continue to make good grades in college can retain their scholarship.

The Teacher Scholarship Program, also administered by the Kentucky Higher Education Assistance Authority, is available to highly qualified Kentucky students pursuing initial teacher certification at participating Kentucky institutions. Students must demonstrate financial need and be enrolled full time.

Military Programs: The U.S. Armed Forces also offer educational programs and ways to pay for higher education or to reduce educational costs.

1) One may attend one of the military academies. These are four-year colleges that are tuition-free and offer bachelors degrees and a commission in the military after graduation.

2) One may attend a school and enroll in the Reserve Officers Training Corps (ROTC) Program, which will pay for tuition, fees, and books and provide a monthly allowance.

3) One may join the Armed Forces before going to school and take advantage of the Montgomery GI Bill, which provides financial support to those who attend school after serving in the military.

4) One may also earn college credit for some military training, possibly reducing the number of classes needed.

5) While serving as an active member of the military, one may take courses during off-duty hours.

For more information on these programs, contact your local military recruiter.

Dependent of Veterans: If one of your parents is a veteran, you may be eligible for one of the various educational assistance programs. For additional information contact: St. Louis VA Regional Office, P.O. Box 66830, St. Louis, MO 63166-6830, (888) 442-4551 or The American Legion, P.O. Box 1050, Indianapolis, IN 46206.

Dependent of Kentucky War Veterans: If one of your parents is a Kentucky Disabled War Veteran you may be eligible for a Waiver of Tuition in any state-supported institution of higher learning. Eligibility for the Waiver of Tuition may be determined by making application to the Department of Military Affairs, Kentucky Center for Veteran Affairs, 545 South Third Street, Louisville, KY 40202.

Vocational Rehabilitation: Students with physical disability may obtain grants-in-aid providing a considerable part of college-related costs through the Kentucky Vocational Rehabilitation Office nearest your hometown.

National Service: AmeriCorps is a program that allows participants to earn education awards in return for national service. For more information contact: The Corporation for National and Community Service, 1201 New York Avenue, N.W., Washington, DC 20525, (800) 942-2677

http://www.cns.gov

GRANTS, LOANS AND WORK-STUDY PROGRAMS

The following table lists the most common financial programs available. Individual
schools may not participate in every program. Check with the school's financial assistance office for details.

TYPE OF AID	QUALIFICATIONS
GRANTS
Federal Pell Grant	U.S. Citizen Financial Need 1^st Undergraduate Degree
College Access Program (CAP)	U.S. Citizen Kentucky Resident Financial Need Enrolled in at least 6 Hours 1^st Undergraduate Degree
Federal Supplement Educational Opportunity Grant (SEOG)	U.S. Citizen Pell Grant Recipient High Financial Need Enrolled in at least 6 Hours, Priority to Full Time
Kentucky Tuition Grant Program (KTG)	U.S. Citizen Kentucky Resident Financial Need Attend KY Accredited Independent College 1^st Undergraduate Degree
LOANS
Federal Perkins Loan	U.S. Citizen High Financial Need Enrolled in at least 6 Hours, Priority to Full Time
Federal Direct Stafford Loan (subsidized)	U.S. Citizen Need Based Enrolled in Minimum of 6 Hours
Federal Direct Stafford Loan (unsubsidized)	U.S. Citizen Not Need Based Enrolled in Minimum of 6 Hours
Federal Direct Parent Loan for Undergraduate Students (PLUS)	U.S. Citizen Not Need Based Enrolled in at least 6 Hours Separate Application
TYPE OF AID	QUALIFICATIONS
STUDENT EMPLOYMENT
Federal College Work-Study Program (CWSP)	U.S. Citizen Need Based Enrolled in at least 6 Hours, Priority given to Enrolled Full Time
KHEAA Work-Study Program	U.S. Citizen Kentucky Resident Enrolled in at least 6 Hours Priority given to Undergraduates
America Reads Program (FWSP)	U.S. Citizen America Reads Eligibility Need Based Enrolled in at least 6 Hours
Community Service Program (FWSP)	U. S. Citizen Need Based Enrolled in at least 6 Hours
Institutional Work Program (INST)	Not Need Based Enrolled Full Time
Full-time Summer Employment	Need and Not Need Based Summer Application Necessary

For additional financial assistance information:

Federal Student Aid Information Center
P.O. Box 84
Washington, DC 20044-0084
800-433-3243
http://www.ed.gov/offices/OPE/Students/

Kentucky Higher Education Assistance Authority
1050 U.S. 127 South
Frankfort, KY 40601-4323
(502) 696-7393
http://www.kheaa.com

Last updated: November 16, 2000