2019-20 Financial Aid Portfolio

2019-20

Financing Your Future

A Guide to Financial Aid at the University of Kentucky

An Equal Opportunity University

University of Kentucky Office of Student Financial Aid and Scholarships 128 W.D. Funkhouser Bldg.

Lexington, KY 40506-0054

Steps

Phone: 859-257-3172 Title IV code: 001989 uky.edu/financialaid Mon. - Fri.: 8 a.m. - 4:30 p.m.

The mission of the Office of Student Financial Aid and Scholarships is to provide financial aid to students who would be unable to attend college without such assistance. Additionally, our mission is to also support the success of colleges and students in their commitment to academic excellence through outstanding service.

We strive to provide a student-oriented approach in the administration of financial aid programs by being responsive to the needs of students, their families and other constituents.

We believe a great college education should be accessible to everyone, no matter their financial situation. If you have the desire and drive to attend the University of Kentucky, we want to work with you to make that happen. Eighty-six percent of our undergraduates receive some type of financial aid. Our institution invests now more than ever - $132 million - to ensure greater access and affordability for all students.

Why? Because we know the investment made in education is an investment well made.

Whatever you want to do and wherever you want to go, let us be the foundation to help you achieve your professional and academic goals.

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Activate Your linkblue and Email Account Accept Your Federal Financial Aid Offers on the myUK Portal Accept Your Scholarship (If Applicable) Compare Financial Aid Award Package to Annual Budget Explore Parent PLUS Loans Explore Student and Alternative Loans Complete the Student or Parent Loan Requirements Select Your “see blue.� U Orientation Date and Pay Your Enrollment Deposit

by May 1 Confirm Housing Arrangements and Dining Plan Explore Financial Wellness Resources Review Disbursement and Payment Options in myUK

Step 1 Activate Your linkblue and Email Account newstudent.uky.edu

• Find your temporary passcode and UK ID number in your acceptance letter from admissions.

• Go to newstudent.uky.edu to activate your linkblue account.

• Log in and follow the directions to activate your linkblue username and new password.

Your linkblue account gives you access to tools like myUK that you will use to review financial aid, register for classes and view your grades. If you have not already done so, you must activate this account to proceed.

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Step 2 Accept Your Federal Financial Aid Offers on the myUK Portal

1 Login to myUK.uky.edu using your linkblue ID and password. For forgotten IDs and passwords, contact the Information Technology Services Help Desk at 859-218-4357.

2 Navigate to Budget.

(Financials>Financial Aid>Budget) o The myUK “Budget” is an estimated cost of attendance, determined by your current residency classification, living arrangements, full-time enrollment and program of study.

Understanding the cost of attendance is important.

3 Read and accept the “Terms and Conditions.”

4 Review and accept your financial aid (under the new tab in the left-hand menu).

5 Check myUK.uky.edu. Navigate to “Documents” to determine if items are missing or incomplete for your financial aid application. Federal and state financial aid will not appear on your bill until all missing items are completed.

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If you are offered Federal Work-Study funding apply in the late summer for FWS jobs via ukjobs.uky.edu or attend the oncampus Part-Time Jobs Fair in the fall.

Step 3 Accept Your Scholarship (If Applicable) uky.edu/academicscholarships

Academic Scholarship Program 217 Funkhouser Building Lexington, KY 40506-0054.

If you are planning to attend the University of Kentucky in fall 2019 and were offered an Academic Scholarship, accept your scholarship online at myUK.uky.edu no later than May 1, 2019. Reference the terms and conditions document sent with your scholarship award letter for more information.

Phone: 859-257-4198 academicscholar@lsv.uky.edu uky.edu/academicscholarships

Notify the Office of Financial Aid and Scholarships about scholarships you are receiving from outside the university; use the Outside Scholarship Resource Form located at seeblue.com/outsidescholarship.

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Step 4

Step 5

Understand Your Direct Student Loan

Compare Financial Aid Award Package to Annual Budget

Though the Subsidized Loan is need-based aid and considered more attractive, due to its lack of interest rate while enrolled, it, like the Unsubsidized Loan, must be repaid to the federal servicer upon graduation. For further information on responsible borrowing and repayment practices visit studentloans.gov.

Calculate an estimate of basic living expenses for attending UK at seeblue.com/ calculator. Tuition and fees available at seeblue.com/tuition.

Compare your annual financial aid award package total with the cost to attend UK and then develop a plan to cover any financial gaps. To explore additional funding options, review Parent Plus and alternative loans.

Visit seeblue.com/loans.

The following table shows the maximum amount of money you may borrow each academic year in Direct Subsidized and Unsubsidized Loans depending on your grade level.

Undergraduate Grade Level

Dependent Student Annual Loan Limit*

Independent Student Annual Loan Limit

1st-year (0-30 credit hours)

$5,500

$9,500

2nd-year (31-59 credit hours)

$6,500

$10,500

3rd and 4th year (60+ credit hours)

$7,500

$12,500

Aggregate Limit

$31,000

$57,500

*Dependent students whose parents were denied the Parent PLUS may qualify for independent loan amounts.

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Step 6 Explore Parent PLUS and Alternative Loans

Parent Loan

Student Alternative Loan Alternative student loans are private commercial loans offered by financial institutions to fund education expenses.

Alternative loans usually require a credit check and a low debt-to-income ratio.

Students with little to no credit history often need a credit-worthy cosigner. Also, the interest rate for private loans can vary based on the borrower and cosigner’s credit score and history.

• Beginning April 15, 2019, your parent can apply for a 2019-20 academic year Parent PLUS Loan at studentloans.gov. o As a reminder, parents must sign in using their FSA ID o Complete eMPN

A credit check will be performed during the application process. A parent PLUS borrower with adverse credit or an endorser must undergo initial entrance financial counseling. More information located at seeblue.com/federalplus.

Parent Alternative Loans Parents with good credit are encouraged to review alternative loan benefits for more favorable payment options at seeblue.com/ fastchoice.

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Step 7 Complete the Student Loan Requirements studentloans.gov

All student borrowers must complete: • The eMPN • Entrance Counseling

prior to the disbursement of loan funds at studentloans.gov. Need help? Visit seeblue.com/facounselors.

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Step 8 Select Your “see blue.” U Orientation Date and Pay Your Enrollment Deposit by May 1

Confirm Housing Arrangements and Dining Plan

First-year students admitted for the fall semester must complete this step by May 1.

Your linkblue account must be activated to select your “see blue.” U Orientation date.

• Confirm and sign your housing contract.

• Review on-campus Dining Plan options at uky.campusdish.com. Select your dining plan by July 21, 2019, or a default plan will be selected for you.

uky.edu/housing

seeblueU.com

If you need assistance, contact the “see blue.”

U Orientation Office at 859-257-3256 or at orientation@uky.edu.

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Step 9

Step 10

Explore Financial Wellness Resources

Review Disbursement and Payment Options in myUK

The Student Financial Wellness Center and the MoneyCATS peer coaching team is on campus to foster and encourage your financial literacy exploration.

Financial aid disbursement begins 10 days before the start of the term for students with complete files. Pell Grants, CAP Grants, KEES funds and aid for part-time students are adjusted after the add/drop period ends UK is proud to offer iGrad, an online resource (normally three weeks after the first day for financial wellness. To create your iGrad of class). profile, go to uky.edu/financialwellness and • Enroll in direct deposit for refunds via build a financial foundation.

To connect with a peer coach and get individualized assistance email moneycats@uky.edu.

myUK > My Info > Direct Deposit.

• Students are billed at the first of each month beginning August 1. Bills are sent via an e-statement until outstanding balances are paid in full. Late payment is subject to a 1.5% late fee.

• Establish Guest Access for parents and guardians via myUK to allow easy access for payments on student accounts.

• Payments can be made online via myUK at uky.edu/studentaccount/payments.

• Learn more about the installment payment plan for fall and spring terms at uky.edu/ studentaccount/content/installmentpayment-plan.

• Students, enrolled at least half-time, are eligible to charge books up to $750 at the UK Bookstore.

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We are here to help!

Contact Us

uky.edu/financialaid/contactus

Financial Aid Counselors seeblue.com/facounselors Financial Aid Resources www.uky.edu/ inancialaid/financialaid-resources Federal Student Loans studentloans.gov Wildcat Cost Calculator seeblue.com/calculator UK’s Net Price Calculator npc.collegeboard.org/student/app/uky Payment Plan seeblue.com/payments KEES Money seeblue.com/kees Academic Scholarships uky.edu/academicscholarships

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Office of Student Financial Aid and Scholarships 128 W.D. Funkhouser Bldg.

Lexington, KY 40506-0054 Phone: 859-257-3172 Title IV code: 001989 www.uky.edu/financialaid Monday - Friday: 8 a.m. - 4:30 p.m.

An Equal Opportunity University