Grants & Loans

• For undergraduates who demonstrate financial need (determined by FAFSA)
• Does NOT have to be repaid
• Award amount set each year by Federal Student Aid. Click here for the latest award amount updates.
•  Awards are based on enrollment
•  Can receive up to 6 years
•  Must file FAFSA to be considered

• For undergraduates who demonstrate extreme need for financial assistance (determined by FAFSA)
• Does not have to be repaid
• Award amount: $550 per year
• Funds are limited
• Must file FAFSA to be considered

• Teacher Education Assistance for College and Higher Education Grant
• For students who plan to study course work to begin a career in teaching.
• Must sign a TEACH Grant Agreement to Serve (agree to serve 4 years teaching)
• Does not have to be repaid unless TEACH Grant Agreement is broken
• TEACH Grant applications can be found in the financial aid office
• Must file FAFSA to be considered

• Awarded on first-come, first-serve basis to students attending a private college/university
• Must be a PELL eligible student
• Must be a KY resident
• Must be enrolled in at least 6 credit hours
• Can be awarded a maximum of 8 semesters
• Award amount is $2,000 per year
• Must file FAFSA to be considered

• Awarded on first-come, first serve basis to students attending a private college or university
• Must be a KY resident
• Need based grant
• Must be enrolled full time
• Award amounts can change annually
• Must file FAFSA to be considered

• GPA determines award amounts for each year in high school (must be 2.5 or higher)
• ACT/AP/IPB scores can result in a bonus award
• Must be a graduate of an approved Kentucky high school
• KEES awards must be used within five years of high school graduation
• Can be awarded for a maximum of eight semesters
• Check your KEES at kheaa.com (if an account has not been created you must create one)

Kentucky Wesleyan College considers all full-time, on campus students for merit financial aid when students are granted admission to the College.  Other forms of institutional scholarships (athletic, talent, connection, etc.) are determined through specific processes according to the department.  The Financial Aid Office is the key resource for all students, prospective and current, to learn more about opportunities for financial assistance.

To ensure students receive as much aid as they qualify for, the Financial Aid Office recommends all students submit the Free Application for Federal Student Aid (FAFSA).  Submit the FAFSA at studentaid.gov.

When submitting the FAFSA, students and parents (if applicable) will create an FSA ID username and password. You will also need this FSA ID when applying for Federal Student Loans. If you forget or need to update this information you can do so at studentaid.gov.

**Note: When creating your FSA ID, it is best not to use a high school email address because these typically expire once you graduate from high school.

Basic eligibility requirements to receive federal financial aid are:

• Must be a US citizen or eligible non-citizen
• Must have a valid Social Security number/Alien Registration Number
• Must demonstrate financial need
• Must register for selective service if male and age 18-25
• Must have a high school diploma, GED, or graduate from an approved home school
• Must maintain satisfactory academic progress (SAP)
• Cannot be in default status on a federal student loan or owe any type of Title IV payment

If you are a current student looking to take summer classes, please apply for summer financial aid here.

Federal Subsidized Direct Loans are a 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 (6 hours) to qualify. Repayment may be deferred during enrollment in graduate school. Other deferment options are available such as unemployment and disability.

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.

1. Interest rate 6.53% for loans disbursed after July 1, 2024, and before July 1, 2025.
2. Note that a 1.057% origination fee is charged by the lender for processing a loan between October 2023 and before October 1, 2025.

Federal Unsubsidized Direct Loans are a 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.

Note that a 1.057% origination fee is charged by the lender for processing a loan between October 2023 and October 1, 2025.

Interest rate 8.08% for loans disbursed on or after July 1, 2024, and before July 1, 2025.

Federal PLUS Loans are a federal 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 cost of attendance and all other financial assistance the student is expected to receive. The loan is obtained from a lending institution.

1. Interest rate 9.08% for loans disbursed on or after July 1, 2024 and before July 1, 2025.
2. Note that a 4.228% origination fee is charged by the lender for processing a loan between October 2023 and before October 1, 2025.

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.