Federal student loans include benefits not typically offered with private loans, such as fixed interest rates and income-driven repayment plans. In addition, federal loans will not have to be repaid until a student graduates, leaves school or changes enrollment status to less than half-time.

All federal loans are processed through the William D. Ford Federal Direct Lending Program. There are two federal educational loan options:

• Direct (subsidized and unsubsidized)
• Direct PLUS and Graduate PLUS

Any student who has not borrowed with the U.S. Department of Education will need to complete Entrance Counseling and an electronic Master Promissory Note (E-MPN) at www.studentloans.gov.

In order to sign in and complete these requirements a student must create and use an FSA ID. The Financial Awareness Counseling listed under “Tools and Resources” on www.studentloans.gov cannot be substituted as the required direct loan entrance counseling.

Employer tuition reimbursement includes a variety of employer-sponsored programs to help employees pay for college. In many cases, the funds received from these programs will be excluded from income and are tax-free.

Employee tuition reimbursement programs are typically governed by an employer’s human resources department. Employers may provide up to $5,250 per year in employer education assistance benefits for undergraduate or graduate courses.

Your employer may require you to attain a particular grade or to complete a program to obtain reimbursement. The employer may also require that you remain employed for a minimum period of time after completing the course of study. Finally, your employer may require you to provide receipts or other substantiation of the educational expenses.

To learn if your employer offers a tuition assistance program, contact your human resources department.

These scholarships are awarded by an organization other than the government or university. They are available from several groups, organizations and entities nationwide. Third-party scholarships can be general in nature or very specialized and tied to the type of work you would be doing after graduation.

Outside scholarship opportunities can be found from a number of reliable online sources, including but not limited to:

Please note: EKU has no control over the awarding or administration of outside scholarships.

The Start Strong Scholarship provides up to $2,000 per year of need-based scholarship funds for newly admitted students. Candidates must have a completed FAFSA application, but are not required to be eligible for FAFSA awarded funding.

The Stay Strong Scholarship provides up to $1,000 per year of need-based scholarship funds for qualified students who have completed two semesters with EKU Online and have earned a 3.5 GPA or higher their previous semester. Candidates must have a completed FAFSA application, but are not required to be eligible for FAFSA awarded funding.

In recognition of your accomplishments as an online student, Omega Nu Lambda Honor Society provides members with an opportunity to apply for a scholarship in both fall and spring. Fall scholarships are announced in November and spring are announced in April.