UPIKE Financial Aid 101

Making the Investment ALL YOU NEED TO KNOW ABOUT FINANCIAL AID AT UPIKE

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FINANCIAL AID TIP: Scholarships and grants do not have to be paid back. Loans from the federal government will need to be repaid after you graduate, usually on a monthly basis.

college degree is the ultimate investment—it will pay you back for a lifetime. However, paying for college might seem overwhelming. At UPIKE, we are in the business of helping

students overcome any obstacle as they move forward to pursue their dreams.

Our Admissions and Financial Services teams are ready to help you navigate the financial aid process. We have helped make a college degree a reality for thousands of students, and we are ready to do the same for you as a member of the UPIKE family.

Costs 2020-21 Tuition $21,900 Room & Board $8,050 Student Activity Fee

$150

Start Here: the FAFSA studentaid.gov/fafsa What is the FAFSA? The FAFSA (Free Application for Federal Student Aid) is the application form you fill out online that the government uses to determine how much federal financial aid you’re eligible for to pay for college. You may also qualify for UPIKE scholarships, as well as other work-study programs or grants, in addition to the aid the government provides.

For a more detailed estimate, visit upike.edu/financial-aid to calculate your costs.

“As a first-generation college student the financial aid process seemed intimidating to me and my family. Once I received my award letter, my UPIKE admissions counselor sat down with me and fully explained my financial aid package, line-by-line.”

SHELBY LEMASTER / PATTON COLLEGE OF EDUCATION

OCTOBER 1

96

%

OF UPIKE UNDERGRADUATE STUDENTS RECEIVE FINANCIAL AID

FINANCIAL AID TIP: High schoolers can get a jump on financial aid!

Just complete five hours of dual credit courses with a “B” or better average and you’ll qualify for a $3,200 scholarship.

PIKEVILLE PROMISE The Pikeville Promise is a full tuition, renewable four-year scholarship that places an emphasis on academics and financial need.

To qualify, a student must be a Kentucky resident and: •

Apply (submit test scores and transcripts) and be admitted to UPIKE.

•

File the FAFSA as soon after October 1 as possible your senior year. Aid is awarded on a fundsavailable basis; some funds can deplete early.

•

Display full eligibility for Pell, CAP and KTG grants.

File the FAFSA starting on October 1 – we recommend applying as soon as possible.

25,225

$

AVERAGE UPIKE YEARLY FINANCIAL AID PACKAGE FOR UNDERGRADUATE STUDENTS

18.2

$

MILLION

TOTAL AMOUNT OF SCHOLARSHIPS AND GRANTS UPIKE AWARDS EACH YEAR

Renewal information and more details can be found at upike.edu/Pikeville-promise.

UPIKE offers many scholarships based on financial need, test scores, your GPA or athletic involvement.

Once you submit the FAFSA, our Financial Services team will create a customized aid package just for you.

SCHOLARSHIPS

First-time Freshman scholarships are available to full-time students and are renewed annually.

GPA

Amount

ACT Score

Amount

3.75 and above

$6,000

25 and above

$2,000

3.5 - 3.74

$5,000

21 - 24

$1,500

3.0 - 3.49

$3,500

Less than 21

$500

2.75 - 2.99

$2,500

2.74 and below

$2,000

TRANSFER SCHOLARSHIPS

TO CALCULATE YOUR AID as a first-year freshman, combine your GPA and ACT scores. For example: if you graduated and had a 3.5 GPA and scored a 22 on the ACT, your UPIKE academic scholarship would be $6,500 every year.

UPIKE offers other program-specific scholarships.

Cumulative GPA

Amount

3.25 and above

$7,000

3.249 and below

$3,500

GOOD TO KNOW: UPIKE also offers on-campus positions for students.

You may be eligible for a federal work study position or you may be able to work as a part-time student employee of UPIKE.

GRANTS

FEDERAL LOANS

ARE YOU A KENTUCKY RESIDENT? You may be eligible for one of three state grant programs.

The Federal Direct Loan program is offered by the U.S. Department of Education.

• Kentucky Educational Excellence Scholarship (KEES) – amounts based on high school GPA • College Access Program (CAP) – up to $2,000 per year • Kentucky Tuition Grant (KTG) – up to $3,000 per year PURSUING A TEACHING CAREER? You may be eligible for the TEACH Grant, which provides awards of up to $4,000 per year.

FEDERAL PELL GRANT Pell Grants are awarded by the federal government to undergraduate students who have significant financial need. Pell Grants do not have to be repaid. The amount depends on your financial need, costs of attendance and your academic status.

FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) These grants are awarded to undergraduate students with exceptional financial need. You must be Pell Grant eligible to be considered for this award. Due to the limited funding available, not all Pell Grant students will receive this grant. *Visit with our Financial Services team for more information on the eligibility requirements for state and federal grant opportunities.

SUBSIDIZED LOAN A subsidized federal loan is awarded on the basis of financial need. The federal government pays the interest on the loan (“subsidizes” the loan) until a student begins repayment.

UNSUBSIDIZED LOAN This type of federal loan is not awarded on the basis of need.

Eligible students, who have submitted the FAFSA, are charged interest from the time the loan is disbursed until it is paid in full. If the interest is allowed to accumulate on an unsubsidized loan, it is “capitalized,” or added to the principal amount of the loan, which increases the repayment amount.

PARENT PLUS LOAN This federal loan allows parents or step-parents with good credit histories to borrow funds for educational expenses for dependent, undergraduate students enrolled at least half-time. Eligibility for the PLUS Loan is based on credit rating, not on income.

UPIKE Student Financial Services (606) 218-5254 | FinAid@upike.edu upike.edu/financial-aid | FAFSA Code: 001980