Financial Aid Contact: 502-597-5960
STATE AND FEDERAL GRANT PROGRAMS
College Access Program (CAP)
Students who are legal residents of Kentucky may apply for a grant from the Commonwealth of Kentucky. They must complete a Free Application for Federal Student Aid (FAFSA), which is available online at www.fafsa.ed.gov . To receive this grant, students must submit the FAFSA as soon as possible on or after January 1st of each year. CAP Grant funding is contingent upon student eligibility and availability of state funds. Awards made until funds are depleted.
Federal Pell Grant Program
The Federal Pell Grant Program is the largest federal grant aid program available to undergraduate students. It provides gift assistance to eligible students and is the "foundation" of financial aid packaging. Student eligibility is based on financial need, which is determined through statutory formulas developed by the U.S. Congress. To apply for the Federal Pell Grant, the student must complete the Free Application for Federal Student Aid (FAFSA), which is available online at www.fafsa.ed.gov . Students must also meet other eligibility criteria established by the federal government. [Federal Aid Eligibility Criteria]
Federal Supplemental Educational Opportunity Grants (FSEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) is a form of gift assistance supplemental to the Federal Pell Grant. FSEOG provides grant assistance to make available the benefits of post-secondary education to qualified students who demonstrate financial need. Applicants must complete the FAFSA to determine eligibility for this grant. FSEOG funding is contingent upon student eligibility and availability of funds.
Federal William D. Ford Direct Loan Programs
Stafford Loans are low-interest loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. Eligible students borrow directly from the U.S. Department of Education (the Department) at participating schools.
Federal Direct Subsidized Stafford Loan Program
Subsidized loans are loans for which the borrower is not responsible for the interest while the student is enrolled in college on at least a half-time basis, when the loan is in the six-month grace period* after the student is no longer enrolled at least half time, or if the loan is in a deferment status Direct Subsidized Loans are for students with financial need. The Financial Aid office will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow. [*--If you receive a subsidized loan first disbursed on or after July 1, 2012, and before July 1, 2014, you will be responsible for the interest that accrues while your loan is in the grace period.]
Students must demonstrate financial need to receive this type of loan. (Financial Aid determines need based on the information provided on the Student Aid Report.)
Federal Direct Unsubsidized Stafford
Students can get these loans regardless of financial need, but will have to pay all interest charges. Interest accrues (accumulates) on an unsubsidized loan from the time it’s first paid out. You can pay the interest while you are in school and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized (that is, added to the principal amount of your loan). The Financial Aid office will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow.
Federal Direct PLUS Loans
Additional loan types provided under the Direct Loan Program include Direct PLUS Loans (for parents and graduate and professional degree students)
Parent PLUS loans are for parents of dependent students to pay for their children’s education. Parents are the borrowers under this loan program and are responsible for all interest charges and repayment of this loan. The Financial Aid office will review the results of the student’s Free Application for Federal Student Aid (FAFSA) and determine the amount the parent can borrow. In order to apply, a parent must complete a PLUS Request at www.studentloans.gov . First time Parent PLUS borrowers must submit a PLUS Master Promissory Note (MPN). You can complete both the MPN and Direct PLUS Loan Request at the student loan website.
Graduate and professional degree students can borrow a Direct PLUS Loan to help cover education expenses. The Financial Aid office will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow. The terms and conditions applicable to PLUS Loans for parents also apply to PLUS Loans for graduate and professional students.