Grants and Scholarships
Federal Pell GrantA need-based grant program. Eligibility is based on the student's EFC. Award maximum amounts are determined each year by Congress. Generally, Pell Grants are awarded to students with extremely high financial need, and the lower the EFC, the higher the Pell Grant. Applicants may be eligible at less than full-time enrollment. FAFSA is required.
Federal Supplemental Educational Opportunity Grant (SEOG)A need-based federal grant program administered by Kentucky Wesleyan College. SEOG is designed for students with extremely high financial need. Limited funds for each academic year are supplied by the US Department of Education. Because funding is limited, early application is necessary. Full-time enrollment is required.
Kentucky College Access Program (CAP)A need-based state grant program. Eligibility is limited to legal residents of the state of Kentucky. Awards are made by the Kentucky Higher Education Assistance Authority (KHEAA) based on the Kentucky colleges listed on the FAFSA. Students must be enrolled at least half-time. Award amounts are generally based on the tuition costs at the University of Kentucky community colleges. Students may receive CAP awards for not more than the equivalent of nine full-time semesters. Funding is limited; early application is necessary.
Kentucky Tuition Grant (KTG)A need-based state grant assistance program. Eligibility is limited to legal residents of the state of Kentucky who are planning to attend a Kentucky private college. Awards are made by KHEAA based on the Kentucky colleges listed on the FAFSA. Students must be enrolled full-time in order to qualify. Awards may vary based on the student's financial need. Students may receive KTG awards for no more than nine semesters. Funding is limited; early application is necessary.
Kentucky Educational Excellence Scholarship (KEES)A merit-based scholarship program. Eligibility is limited to Kentucky high school graduates who have earned base or bonus awards under the program guidelines. Contact your high school counselor or the Kentucky Higher Education Assistance Authority (1-800-928-8926 or http://www.kheaa.com) for complete information. Half-time or greater enrollment is required. Awards are pro-rated if less than full-time, and FAFSA is required.
Kentucky Teacher Scholarship/LoanA need-based state assistance program. FAFSA and Teacher Scholarship application are required. (Deadline is May 1.) Full-time enrollment is required with possible exception for final term. If teaching obligation is not met, recipients must repay the scholarship with 12 percent interest that accrues from the date of disbursement of each Teacher Scholarship. Contact the Kentucky Higher Education Assistance Authority for complete details. (1-800-928-8926)
Kentucky Wesleyan College Academic ScholarshipsAn institutional merit-based assistance program. No scholarship application form is required. Awards are made based on the high school GPA and ACT or SAT scores of the admitted applicants. The scholarships range up to full tuition. Financial need is not a requirement for receipt of these scholarships, but the scholarship may be used to meet direct cost when combined with other financial assistance received by the student. Scholarships are awarded in the spring prior to a student's initial KWC enrollment. Academic scholarships for transfer students are available. Transfer students should contact the KWC Office of Admission for further information. Academic scholarships may be renewed up to eight semesters. Awards will be reduced or cancelled if GPA falls below the minimum GPA. Full-time enrollment is required.
CIC Tuition ExchangeA non-profit corporation. Kentucky Wesleyan has been a member since 1975. The purpose of the corporation is to benefit the children of faculty at member colleges and universities by offering tuition scholarships. The college is also a member of the Council of Independent Colleges Tuition Exchange program. Additional information is available from the Academic Dean's office. Full-time enrollment is required.
Christian Ministries AwardsAn institutional award program.
1. Students preparing to enter the ministry of the United Methodist Church or full-time Christian Service in the United Methodist Church may receive tuition remission for up to $1,500.
2. Students preparing to enter the ministry or full-time Christian Service in denominations other than the United Methodist Church may receive tuition remission for up to $1,000.
3. Children and spouses of ordained United Methodist ministers may receive tuition remission for up to one-half the cost of tuition.
Tuition Remission ProgramAn institutional non-need based program designed to pay part or all of the cost of tuition for qualifying students. Dependents and spouses of full-time KWC faculty and staff may receive tuition remission for up to 100 percent of the cost of tuition after two years of full-time service. Part-time enrollment is permitted. Additional information found in the employee/staff handbook.
Legacy GrantsAn institutional grant program. Students who are children or grandchildren of KWC graduates or siblings of concurrently enrolled KWC students may qualify for the Legacy Grants. Awards are for up to $1000 toward the students' direct cost. Full-time enrollment is required along with completion of the FAFSA.
United Methodist GrantAn institutional grant program. Students who are active members of the United Methodist Church may receive an award up to $1000 toward direct cost.
PLEASE NOTE:
- Awards must be made prior to initial KWC enrollment. Full-time enrollment is required along with completion of the FAFSA.
- Endowed Scholarships – KWC awards scholarships that are sponsored by a variety of endowed scholarship funds that have various criteria. No special/ additional application form is required. Full-time enrollment is required along with completion of the FAFSA.
- Multiple KWC Scholarships – Pending eligibility, type, and numbers of KWC scholarships/grants, awards may be stacked. Contact the Financial Aid Office for more information.
Back to top of page
Employment
Federal College Work Study – a need-based federal assistance program designed to provide students with a means to earn money to help pay college expenses. Student employees work on campus and are paid once per month. Students with unpaid balances are expected to contribute at least 80 percent of their employment earnings toward paying the balances. Funding is limited. Early application is necessary, and the FAFSA is required.
Back to top of page
Loans
Federal Perkins Loan – a federal need-based low-interest loan program. Repayment does not begin and interest does not accrue until nine months after the student graduates or drops below half-time enrollment. Students must be enrolled at least half-time to qualify. Repayment may be deferred during enrollment in graduate school. Other deferment options are available such as unemployment and disability. Graduates employed full-time in some areas of teaching, medical technology and law enforcement may qualify to have all or a portion of their loan principal and interest canceled for each year of service. Funding is limited; early application is necessary, and the FAFSA is required.
Federal Subsidized Stafford Loan – a federal need-based low-interest loan program. Loans are obtained from a lending institution such as a bank or credit union. Repayment does not begin and interest does not accrue until six months after the student graduates or drops below half-time enrollment. Students must be enrolled at least half-time to qualify. Repayment may be deferred during enrollment in graduate school. Other deferment options are available such as unemployment and disability. The interest rate is fixed at 6.8% (effective July 1, 2006). Annual loan maximums are given below:
• Level 1 (0-29 semester hours earned) $3500
• Level 2 (30-59 semester hours earned) $4500
• Level 3 (60 and above semester hours earned) $5500
Federal regulations mandate that the loan be disbursed in at least two equal payments (usually half of the proceeds in the fall semester and the other half in the spring semester). A processing fee not to exceed four percent will be deducted by the lender from the proceeds of the loan. The lifetime aggregate limit is $23,000. The FAFSA is required.
Federal Unsubsidized Stafford Loan – a federal non-need based loan program. All terms as stated under the Subsidized Stafford Loan apply to this loan as well, except that this loan is NOT interest-free while the student is enrolled. Interest does begin to accrue within 60 days of receiving loan proceeds. Payment of interest, however, may be deferred or capitalized. Students not qualifying for the full amount of Subsidized Stafford Loan may borrow the remaining annual maximum amount in an unsubsidized loan. Federal regulations mandate that the loan be disbursed in at least two equal payments (usually half of the proceeds in the fall semester and the other half in the spring semester). A processing fee not to exceed four percent will be deducted by the lender from the proceeds of the loan. Annual maximums vary for dependent and independent students. The FAFSA is required.
Federal PLUS Loan – a federal non-need based low-interest loan program for parents of undergraduate students. Parents without adverse credit history (determined by the lender) may borrow an amount not to exceed the difference between the total financial aid budget and all other financial assistance the student is expected to receive. The loan is obtained from a lending institution. The interest rate is fixed and is capped at 8.5% (effective July 1, 2006). Repayment begins within 60 days after receiving the final disbursement with a minimum payment of $50 per month (minimum payment is based upon the total amount borrowed and therefore may be higher than $50 for some borrowers). Federal regulations mandate that the loan be disbursed in at least two equal payments (usually half of the proceeds in the fall semester and the other half in the spring semester). A processing fee not to exceed four percent will be deducted by the lender from the proceeds of the loan. The FAFSA is required.
Back to top of page
