KSU_Catalogue_2008-2009.pdf — PaddleOCR-VL (Baidu)

TYPES OF FINANCIAL

College Access Program (CAP)

Students who are Kentucky residents may apply for a grant from the Commonwealth of Kentucky. They must complete a Free Application for Federal Student Aid (FAFSA), which is available from the University’s Student Financial Aid Office. To receive this grant, students must submit the FAFSA prior to the March 15 state deadline.

Federal Pell Grant Program

The Federal Pell Grant Program is the largest federal student aid program available to undergraduate students. It provides gift assistance to eligible students and is the “foundation” of financial aid packaging. Student eligibility is based on financial need, which is determined through statutory formulas developed by the U.S. Congress. The Federal Student Aid Program will send the Electronic Student Aid Report (SAR) to Kentucky State University. The University’s Student Financial Aid Office will calculate the amount of a student’s Federal Pell Grant award based upon information contained in the Electronic Student Aid Report (SAR).

Federal Supplemental Education Opportunity Grants (FSEOG)

The Federal Supplemental Educational Opportunity Grant (FSEOG) is a form of gift assistance supplemental to the Federal Pell Grant. FSEOG provides grant assistance to make available the benefits of post-secondary education to qualified students who demonstrate financial need. Applicants must complete the FAFSA to determine eligibility for this grant.

Federal Academic Competitiveness Grant (ACG) An eligible student may receive an ACG during the first and second academic years of study. To be eligible for each academic year, the student must:

Be a U.S. citizen;
Be a Federal Pell Grant recipient;
Be enrolled full-time in a degree program
Be enrolled in the first or second academic year of his or her program of study at a two-year or four-year degree-granting institution;
Have completed a rigorous secondary school program of study (after Jan. 1, 2006, if a first-year student, and after January 1, 2005, if a second-year student;
If a first-year student, not have been previously enrolled in an undergraduate program;
If as second-year student, have at least a cumulative 3.0 grade point average on a 4.0 scale for the first academic year.

National SMART Grant

An eligible student may receive a National SMART Grant for each of the third and fourth academic years of study. To be eligible for each academic year, a student must:

Be a U.S. citizen;
Be a Federal Pell Grant recipient;
Be enrolled full-time in a degree program;
Be enrolled in a four-year degree-granting institution;
Major in physical, life or computer science, engineering mathematics, technology, or a critical foreign language; and
Have a least a cumulative 3.0 grade point average on a 4.0 scale.

Federal Perkins Loan Program

Kentucky State University provides Perkins Loan assistance to eligible students who have established financial need. These loans carry an annual 5 percent simple interest charge, and the payment begins six or nine months after graduation or if the borrower ceases to be enrolled on at least a half-time basis. This is a federally-funded, low interest loan, and legal action will be taken if repayment is not made as agreed to by the student. The FAFSA must be filed in order to determine eligibility for this loan.

William D. Ford Federal Direct Student Loan

Program-Federal Direct Stafford/Ford Loans

Also called Direct Subsidized Loans: The federal government pays the interest on these loans while students are in school at least half-time and during certain other times, such as grace periods and deferments (postponements of repayment). Students must demonstrate financial need to receive this type of loan. (Financial Aid determines need based on the information provided on the Student Aid Report).

Federal Direct Unsubsidized Stafford/Ford Loans Also called Direct Unsubsidized Loans: Students can get these loans regardless of financial need, but will have to pay all interest charges.