Types of Financial Aid

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Learn More About Your Options

EKU is dedicated to helping you make your academic goals more affordable. Almost everyone, regardless of income, can qualify for some form of financial aid.

For more information about financial aid, contact the EKU Financial Aid Office at finaid@eku.edu or (859) 622-2361.

Grants

Grants are a type of financial support that do not need to be repaid. Many grants are based on financial need alone however; some grants also take into consideration academic performance, academic degree program, and/or residence status.

To determine your eligibility for federal grants, please complete your FAFSA as soon as possible. Grants are available at the federal and state level.

Federal Loans

Federal student loans are loans made or guaranteed by the U.S. Department of Education.

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.

All federal student loan borrowers will receive a confirmation email from the U.S. Department of Education once they have successfully completed the E-MPN. The requirements will be shown as complete on ASIST 48 hours after completing entrance counseling.

As of March 29, 2015, if a borrower has been approved for a direct parent PLUS or direct graduate PLUS loan by means of obtaining a qualified endorser or documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to the borrower’s adverse credit, the borrower must complete the new direct PLUS loan counseling requirement at www.studentloans.gov.

Private Loans

Private student loans are not funded or subsidized by the federal government; instead, they are funded by banks, credit unions, or other types of lenders.

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The bank or lender – not the federal government – sets interest rates, loan limits, terms, and conditions of private student loans. Your ability to qualify for and borrow a private student loan may be based on numerous factors that can include your credit history, whether or not you choose to have a co-signer, your co-signer’s credit history, your choice of school, and your course of study. These loans do not offer the flexible repayment terms or borrower protections featured by federal student loans.

While private student loans are all structured differently, in general they include:

  • Payment plans that can begin while you are still in school
  • Fewer options to reduce or postpone payments
  • Variable interest rates that can rise when interest rates rise during the life of the loan (potentially causing your payment to increase)

Employer Tuition Reimbursement

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.

Military Benefits

For information on veteran and active duty military services and offerings, contact the EKU Office of Military and Veterans Affairs at 859.622.2345. EKU is repeatedly recognized by both Military Times and GI Jobs as a leader among Military Friendly® Schools and we look forward to helping you reach your goals.

Outside Scholarships

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.

If you receive an outside scholarship, you must notify your financial aid officer so the award can be properly reported as part of your total aid package. Failure to report awards can result in the award not being accepted or a portion of the funds having to be repaid due to overpayment.

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.

Departmental Scholarships

Departmental scholarships are awarded by specific EKU departments. The type, amount and criteria for these scholarships will vary by department.

If you receive a departmental scholarship, you must notify your financial aid officer so the award can be properly reported as part of your total aid package. Failure to report awards can result in the award not being accepted or a portion of the funds having to be repaid due to overpayment.

Online Master of Science in Safety, Security and Emergency Management (MSSSEM) Distance Education Scholarship

The MSSSEM Distance Education Scholarship provides up to five $1,000 merit-based scholarships for newly admitted MSSSEM graduate students.

Online Bachelor’s in Occupational Safety Distance Education Scholarship

The Bachelor’s in Occupational Safety Distance Education Scholarship provides up to five $1,000 merit-based scholarships for newly admitted online undergraduate occupational safety students.

Risk Management and Insurance Foundation Scholarships

There are multiple foundation scholarships available for incoming high school graduates and transfer students. To apply for EKU RMI Foundation Scholarships, complete the scholarship application. For more information, contact the Risk Management & Insurance Program at (859) 622-1579.

EKU University Scholarships

Start Strong Scholarship Fund

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.

Stay Strong Scholarship Fund

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.

Omega Nu Lambda Honor Society Scholarship Fund

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.

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