Applying for Financial Aid
Applying
The application for financial assistance is the Free Application for Federal Student Aid (FAFSA). This form is available online, from your high school counselor or the KCU Financial Aid Office. The FAFSA determines your eligibility for federal need-based aid. This form is completed after January 1 of the year you plan to enroll in college.
The FAFSA uses a complex formula to determine your expected family contribution (EFC). This number is the amount that both the student and parent, based on the federal government's methodology, should be able to contribute toward institutional costs over the course of an academic year.
Kentucky Christian University has a priority deadline of March 1 for Financial Aid at KCU. Once you have been accepted to KCU, and the financial aid application process has been completed, you will receive an award letter from the Financial Aid Office. This notification details your financial aid package. It may consist of need-based awards, such as grants, loans and work-study, as well as merit-based awards and scholarships. Scholarships and grants are considered gift aid and require no repayment or work obligation, whereas student loans must be repaid.
There are five primary sources of funding for college: the Federal Government, Kentucky Christian University Scholarships/Grants, Private Scholarship, Self-Help and State Aid.
The federal government is the single largest source of funding for education. Most federal aid is need-based, because it supplements your family's ability to pay for college. Need-based aid is the most common category for aid awarded.
Award Letter Example
Shortly after Kentucky Christian University receives the results from your FAFSA, we will issue an award letter with your specific financial aid package. An example of the items possibly included is below:
| Pell Grant | $2,081 |
| KCU Scholarship | $3,000 |
| Kentucky Tuition Grant | $3,000 |
| Stafford Student Loan | $3,500 |
| College Work Study | $1,300 |
| Total Package | $12,881 |
| (Dollar figures are for example only) |
Parents Guide to Financial Aid
Making the final decision of where your son/daughter goes to college is a difficult one. We know there are many factors that go into this decision. The cost of the education ranks at the top of the list of considerations.
At Kentucky Christian University, we believe that every student should have the opportunity to invest in their future. I would like to invite you to consider choosing a small, private, Christian college setting. Students from all across the country choose to attend KCU.
A college education is an investment for the future. An education from KCU goes far beyond academic, social, and experiential benefits found at other universities. For over 85 years KCU has remained true to the mission of preparing students for Christian leadership in the church and in professions throughout the world.
A KCU college experience is available and affordable. Every student receives some form of institutional assistance. Kentucky Christian University provides nearly $2 million in institutional financial aid over and above what outside sources may provide.
This truly is an investment in the future of your son/daughter. Completing a college degree can increase lifetime earnings by as much as 60%. Private colleges have a higher graduation rate than public institutions.
I would encourage you to contact your KCU Enrollment Counselor to discuss details concerning the financial aid process.
Sandra Deakins
Vice President of Enrollment Services
Financial Aid Terms
FAFSA - Free Application for Federal Student Aid
EFC - Expected Family Contribution
SAR - Student Aid Report (the form sent back to you and all schools you requested on your FAFSA).
Grants - Financial assistance that does not require repayment.
CAP - A state grant for Kentucky residents that are Pell eligible.
KTG - Kentucky Tuition Grant for students attending Kentucky private Universities.
Loans - Financial assistance that will be repaid at a later date. Repsonsible borrowing can be a great investment for the future.
Stafford Loans - The most common types of student loans which are available to every student. The institution will determine if the loan will be subsidized (interest-free while the student is enrolled) or unsubsidized (interest accrues while the student is enrolled).
Perkins Loans - These have a fixed interest rate and deferred repayment of principal and interest until nine months after graduation.
PLUS Loans - If financial aid including above loans does not cover your students costs and your family is not in a position to fund the education 'out of pocket', a PLUS Loan for credit-worthy parents is available. This loan carries a fixed interest rate at 8.50%. This is a federal program that allows you to borrow all or any part of your out of pocket expenses that remain after financial aid is deducted.
Alternative Loans - Parents who aren't able to borrow or feel it is the responsibility of the child to do so might consider a private alternative student loan. There are several loans with a variety of terms available in this category. Traditional students who apply for alternative loans typically need a credit-worthy co-signer.
Work Study - This is considered a self-help program. Work study can be federally funded through the College Work Study program (CWS) or can be funded directly through the institution (IWS).
How is Financial Aid Determined?
By completing the FAFSA (Free Application for Federal Student Aid) you are beginning the application process designed to assist financial aid offices and state/federal agencies making aid available in a fair manner.
The first step is being certain that the FAFSA (Free Application for Federal Student Aid) is filled out accurately and competely. The information provided is used to determine financial need as established by Congress.
Student budgets are revised annually. The budgets include the cost of tuition, room and board, books, supplies, transportation, and personal expenses. Budgets vary according to resident status (dorm resident/commuter) and enrollment status (full time/part time).
Timeline
December
December 1 is the deadline for all Lusby Scholarships.
FAFSA worksheets are available during the month of December. You can pick these up at the KCU Financial Aid Office or from your local high school/college. You will access the FAFSA at www.fafsa.ed.gov.
January
FAFSA may be filed beginning January 1. Remember that early filing could result in an increased financial aid award package.
Our KCU Enrollment Counselors will walk you through the process for Federal, State, and KCU programs.
March 1
March 1 is KCU's priority filing date for the completion of the FAFSA. Financial Aid applications that are filed after this date will receive processing as received. Please be aware that filing for financial aid after March 1 may decrease the amount of state assistance received.
March 15
Kentucky residents should complete the FAFSA by this priority deadline.
June or July
Come to campus for pre-registration to get answers to all of your questions.
August
Classes begin! Welcome to Kentucky Christian University.
Financial Aid Resources
School Codes
- ACT - 1523
- SAT- 1377
Financial Aid
- Title IV 001965
- Tuition & Other Costs
- FAFSA
- Scholarships & Aid