2022 Financial Aid Brochure

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FINANCIAL AID STRESS-FREE

EDUCATION WITHIN REACH

You’ve likely heard EKU referred to as the School of Opportunity, but what does it mean for you? It means opportunity for a quality and affordable education. It promises an abundance of 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 within reach for all students, regardless of background. How do we do it? An affordable and competitive tuition rate serves as the basis. More than 70 percent of EKU students rely on some type of financial aid, reducing the amount you and your family 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.

FINANCIAL AID 101

Financial aid helps fund your education by supplementing what you and your family are able to pay. Aid is awarded in three basic forms:

• grants and scholarships, which do not have to be repaid

• loans, which must be repaid

• work study & part-time job opportunities on campus

Most students have a combination of these, known as the financial aid package. You may be eligible for financial aid at EKU if you:

• are admitted to the university as a degree-seeking student.

• 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.

“I was able to reach my goals because of the support on this campus. Whether it be from the Student Success Center, my professors or from the wide variety of financial resources and scholarships, I always felt supported by EKU.”

Ciarra Johnson, ’22

How

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 go.eku.edu/aid

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.

SCHOLARSHIP OPPORTUNITIES

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. Merit scholarships, based on your GPA and optional test scores, are automatically applied. Additional scholarship options include those requiring applications and with different deadlines.

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 scholarship for high-achieving diverse students. go.eku.edu/diversity

DEPARTMENT AND OFFICE SCHOLARSHIPS

Discipline-specific scholarships awarded based on a range of criteria.

SCHOLARSHIPS FOR STUDENTS WITH DISABILITIES

Includes the Agee Memorial Dyslexia Scholarship and the James Larmour Scholarship for Students with Learning Disabilities.

DISCOVER MORE

Discover more at go.eku.edu/scholarships

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 generally offer you the best terms. All federal student loans require a FAFSA application.

FEDERAL DIRECT LOANS

If you are enrolled at least half time, Federal Direct Loans allow you to borrow directly from the U.S. Department of Education, providing a guaranteed funding source and a lower interest rate on some loans:

• Subsidized loans are based on financial need determined by the FAFSA, and offer no interest accrual or payments during eligible periods of enrollment

• Unsubsidized loans are not based on financial need, and interest starts to accrue upon the first disbursement

Repayment on either subsidized or unsubsidized federal loans begins six months after graduation or when you are no longer enrolled at least half time. The Federal Direct Plus Loan for Parents is also available to parents of dependent undergraduate students for assistance with educationrelated expenses associated with EKU.

Once you complete the FAFSA, your Financial Aid Award Notice will tell you the loan amount you are eligible to receive and how, if you choose, to accept your loan.

For more information, visit go.eku.edu/federal

NON-FEDERAL LOANS

Many private lenders offer loans to supplement federal programs. Visit go.eku.edu/privateloans for a list of lenders or contact Big E Central for more information. You may also choose lenders who are not on this list. EKU does not benefit from your choice of lender.

LOAN DISBURSEMENTS

Generally, your loan will be processed for a full academic year. The university will make at least two disbursements to your student account, typically at the beginning of each semester

WORK STUDY

You can work up to 20 hours per week on campus, earning the federal minimum wage and often gaining marketable skills in your field. Positions vary widely — you may work in an office, in a lab, on a farm, in food service, as a residence hall assistant, as a tutor or perform community service. Your work schedule will be built around your class schedule. There are two student employment programs at EKU:

FEDERAL WORK-STUDY (FWS) PROGRAM

This program funds part-time employment for students with financial need as determined by the FAFSA.

EKU INSTITUTIONAL EMPLOYMENT

This program funds part-time employment for students who 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, and you may encounter terminology unfamiliar to you. 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.

“As someone who comes from a family that has struggled financially, I was provided with scholarships, grants and other resources at EKU to make sure I could receive a quality education.”

Jessica Doan, ’22 ENGLISH

Student Success, Outreach and Opportunity

Eastern Kentucky University 521 Lancaster Avenue Whitlock CPO 54 Richmond, KY 40475

(859) 622-2361