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EASTERN KENTUCKY UNIVERSITY: THE SCHOOL OF
OPPORTUNITY EDUCATION WITHIN REACH
FINANCIAL AID 101
You’ve likely heard EKU referred to as the School of Opportunity,
Financial aid helps fund your education by supplementing
but what does it mean for you? It means opportunity for a
what you and your family are able to pay. Aid is awarded in
quality and affordable education. It promises an abundance of
three basic forms:
academic and personal growth opportunities throughout your EKU experience. And it ensures a world of opportunities awaits you upon graduation. As One Eastern, we’re committed to keeping higher education
• grants and scholarships, which do not have to be repaid • loans, which must be repaid • work study & part-time job opportunities on campus
within reach for all students, regardless of background. How do
Most students have a combination of these, known as the
we do it? An affordable and competitive tuition rate serves as
financial aid package. You may be eligible for financial aid at
the basis. More than 80 percent of EKU students rely on some
EKU if you:
type of financial aid, reducing the amount you and your family
• are admitted to the University as a degree-seeking student.
would pay for your education. Additionally, EKU provides a variety of scholarships based on varying qualifications, rewarding you and further lowering your cost of attendance.
• complete the Free Application for Federal Student Aid (FAFSA) each year. • are enrolled at least half time (six semester hours for undergraduate students). • are a U.S. citizen or eligible non-citizen. • meet Federal Satisfactory Academic Progress standards.
“EKU is the School of Opportunity. As one of the most affordable schools in the state, I am able to graduate debt free. Generous donors and foundation scholarships put me in a financially sound position so that I could focus on my school work. I had an amazing on-campus job that contributed to my success because it gave me connections and a support group.”
Caitlyn Kirchoff CLASS OF 2020
FINANCIAL AID STARTS WITH THE FAFSA All federal and state grants, loan programs and work study begin with the FAFSA. EKU will use the information provided on the FAFSA to determine what types of aid you can get. You must complete a new FAFSA each year you plan to seek financial aid. If you need help completing the FAFSA, contact EKU’s Financial Aid Office. Complete the FAFSA as early as possible. Some grant funds, as well as Federal Work-Study, are limited and can only be awarded until the available funding is depleted. Finish the FAFSA before November 1 to be considered for maximum aid.
Instructions and worksheets: studentaid.gov FAFSA walk-through video: go.eku.edu/fafsasimplify EKU’s FAFSA school code: 001963
VERIFICATION The U.S. Department of Education selects a percentage of applicants for verification each year. Selection is random and does not indicate there is a problem with your FAFSA information, but you will need to submit additional documentation to receive financial aid. EKU partners with Kentucky Higher Education Assistance Authority (KHEAA) for verification. KHEAA will contact you with details if you are selected.
IMPORTANT DATES SEPTEMBER
Apply for new Federal Student Aid ID at fsaid.ed.gov
OCTOBER 1
FAFSA opens apply at studentaid.gov
NOVEMBER 1
FAFSA Priority deadline
FEBRUARY 1
Scholarship priority deadline for admitted students
Your top choices for financial aid are scholarships and grants because they do not have to be repaid. You have many options in these categories.
SCHOLARSHIPS Most EKU merit awards are based on your unweighted high school grade point average (GPA). The best part? They are automatically applied — there is no separate application. Determine your eligibility using EKU’s online Scholarship Estimator at go.eku.edu/estimator. After being admitted to EKU, eligible students receive a scholarship award letter which includes instructions on how to accept the scholarship. Priority is given to students admitted to EKU by February 1. After February 1, the Scholarship Office makes awards until funds are exhausted, so apply early!
MERIT SCHOLARSHIPS FOR IN-STATE STUDENTS
scholarship
four-year awards
qualifications
tier one*
full in-state tuition
3.8 - 4.0 gpa + act 28+
tier two
$24,000 ($6,000 per year/$3,000 per semester)
3.8 - 4.0
tier three
$16,000
($4,000 per year/$2,000 per semester)
3.3 - 3.79
tier four
$12,000
($3,000 per year/$1,500 per semester)
3.0 - 3.29
Merit scholarships are awarded per semester up to eight semesters. To retain the scholarship, the student must be enrolled full time and maintain an EKU cumulative grade point average of 3.0 for the Tier One Scholarship, or 2.5 for the Tier Two, Three and Four Scholarships.
THE MADISON COUNTY “PROMISE”
ACCESS SCHOLARSHIP
EKU is proud of the long-standing partnership with our
EKU is committed to a welcoming and inclusive
larger community, and we want students from our county
environment. The Access Scholarship awards $1,000 annually
to succeed. Now, local students can attend EKU for an even
to in-state, diverse students who have earned a high school
more affordable rate. Madison County, Kentucky residents
GPA of 2.5 or higher and a composite ACT score of 16 or
with a 2.5-2.9 GPA qualify for a $1,000 annual scholarship.
higher; or have a high school GPA of 3.0 or higher regardless of ACT score.
THE “COLONEL COMMITMENT” SCHOLARSHIP Kentucky residents who are Pell Grant-eligible may receive
OPPORTUNITY SCHOLARSHIP Students who are Kentucky residents, have a minimum 2.5
this scholarship, which will cover up to 100 percent of tuition
high school GPA, 18 composite on the ACT and demonstrate
and fees for first-year students who have a 3.0 high school
financial need as determined by the FAFSA receive annual
GPA. This scholarship is intended to act as “gap funding” for
awards ranging from $1,000 to $3,000.
any student who has exhausted all avenues of federal, state and institutional scholarship and grant assistance, and still has a remaining balance for tuition and required fees. * Students who completed the Governor’s Scholars Program and have a minimum 3.75 unweighted grade point average and at least a 25 ACT composite score will be eligible for the full tuition scholarship or Tier One.
NOTE: Merit scholarships are not applicable to students in a 100% online program.
How much will I pay? EKU’s online calculator will help you estimate your costs as a first-time freshman. Find it at go.eku.edu/NetPrice.
OUT-OF-STATE SCHOLARSHIPS Out-of-state students with a composite ACT Score of 29 or higher (SAT 1350 total or higher) and a 4.0 GPA may earn a merit scholarship award. Priority is given to students who are admitted to EKU by February 1.
scholarship
four-year awards
scholar i
$28,000 ($7,000 per year/$3,500 per semester)
scholar ii
$20,000 ($5,000 per year/$2,500 per semester)
scholar iii
$12,000
scholar iv
$4,000 ($1,000 per year/500 per semester)
($3,000 per year/$1,500 per semester)
Out-of-state scholarships are awarded each semester for up to eight semesters. To retain the scholarship, the student must maintain a 3.0 EKU cumulative grade point average and be enrolled full time. NOTE: The Out-of-State Scholarships are not available to 100% online students.
MORE SCHOLARSHIP OPPORTUNITIES These scholarships require applications and may have different deadlines. Discover more at go.eku.edu/scholarships.
EKU FOUNDATION SCHOLARSHIPS Program-specific awards for high-achieving students, students with financial need or specific demographics. go.eku.edu/foundation
TRAILBLAZER SCHOLARSHIP An award for students who are the first in their family to pursue a degree. go.eku.edu/trailblazer
DR. RODNEY GROSS SCHOLARSHIP A diversity scholarship for high-achieving students. go.eku.edu/diversity
DEPARTMENT AND OFFICE SCHOLARSHIPS Discipline-specific scholarships awarded based on a range of criteria. go.eku.edu/departmental
SCHOLARSHIPS FOR STUDENTS WITH DISABILITIES Includes the Agee Memorial Dyslexia Scholarship and the James Larmour Scholarship for Students with Learning Disabilities. go.eku.edu/access
SEARCH FOR SCHOLARSHIPS ONLINE go.eku.edu/onlineresources
GRANTS Grants are awarded based mostly on financial need and generally do not require repayment. As a qualifying EKU undergraduate student, your grant options include Pell Grants and others, based on need, and the TEACH Grant for future teachers who agree to certain obligations after graduation. In order to apply for a federal or state grant, you must first complete the FAFSA. See all of the grant options at go.eku.edu/grants.
LOANS The loan portion of your financial aid package must be repaid. While there are many private loan sources, federal sources
students for assistance with education-related expenses associated with EKU.
generally offer you the best terms. All federal student loans
Once you complete the FAFSA, your Financial Aid Award Notice
require a FAFSA application.
will tell you the loan amount you are eligible to receive and how, if you choose, to accept your loan.
FEDERAL DIRECT LOANS If you are enrolled at least half time, Federal Direct Loans allow
For more information, visit go.eku.edu/federal.
you to borrow directly from the U.S. Department of Education, providing a guaranteed funding source and a lower interest rate on some loans:
NON-FEDERAL LOANS Many private lenders offer loans to supplement federal programs.
• Subsidized loans are based on financial need determined by the FAFSA, and offer no interest accrual or payments during eligible periods of enrollment
Visit go.eku.edu/nfal for a list of lenders selected for their
• Unsubsidized loans are not based on financial need, and interest starts to accrue upon the first disbursement
choice of lender.
Repayment on either subsidized or unsubsidized federal loans
LOAN DISBURSEMENTS
begins six months after graduation or when you are no longer
Generally, your loan will be processed for a full academic year. The
enrolled at least half time. The Federal Direct Plus Loan for
university will make at least two disbursements to your student
Parents is also available to parents of dependent undergraduate
account, typically at the beginning of each semester.
WORK STUDY
customer service and borrower benefits. You may also choose lenders who are not on this list. EKU does not benefit from your
You can work up to 20 hours per week on campus, earning
FEDERAL WORK-STUDY (FWS) PROGRAM
federal minimum wage and often gaining marketable skills
This program funds part-time employment for students with
in your field. Positions vary widely — you may work in an
financial need as determined by the FAFSA.
office, in a lab, on a farm, in food service, as a residence hall assistant, as a tutor or perform community service. Your work
EKU INSTITUTIONAL EMPLOYMENT
schedule will be built around your class schedule. There are
This program funds part-time employment for students who
two student employment programs at EKU:
don’t qualify for Federal Work-Study.
READY TO GET STARTED WITH FINANCIAL AID? Remember, your first step is to complete the FAFSA beginning October 1. The Financial Aid process may seem overwhelming, but we’re here to help. Talk with an EKU financial aid counselor for guidance on creating the best financial aid package for you and your family. Get more information at go.eku.edu/aid. During the financial aid process, you may encounter terminology unfamiliar to you. Find a glossary for common financial aid terms and definitions at go.eku.edu/definitions.
Office of Student Financial Assistance and Scholarships Whitlock CPO 59 Eastern Kentucky University 521 Lancaster Ave. Richmond, KY 40475-3102 eku.edu 1-800-465-9191
FOLLOW EKU ADMISSIONS!
EKU has taken considerable precautions to keep students, faculty, and staff healthy and safe during the coronavirus pandemic. All photos were either taken pre-pandemic or in an environment designed to ensure the safety of all participants. Eastern Kentucky University is an Equal Opportunity/Affirmative Action employer and educational institution and does not discriminate on the basis of age (40 and over), race, color, religion, sex, sexual orientation, gender identity, gender expression, pregnancy, ethnicity, disability, national origin, veteran status, or genetic information in the admission to, or participation in, any educational program or activity (e.g., athletics, academics and housing) which it conducts, or in any employment policy or practice. Any complaint arising by reason of alleged discrimination should be directed to the Office of Equity and Inclusion, 416 Jones Building, CPO 37, Eastern Kentucky University, 521 Lancaster Avenue, Richmond, Kentucky 40475-3102, (859) 622-8020 or the Assistant Secretary for Civil Rights, U.S. Department of Education, Office for Civil Rights, Lyndon Baines Johnson Department of Education Building, 400 Maryland Avenue, SW, Washington, DC. 20202 1-800-421-3481 (V), 1-800-877-8339 (TDD). Five-year employment rate reported by Kentucky Center for Education and Workforce Statistics, 2014. 2021_AMS_Financial_Aid_Brochure_MT05
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