Types of Financial Aid at SKYCTC

TYPES OF FINANCIAL AID

All prospective students and their parents are encouraged to complete and submit the FAFSA. Changes in federal student aid programs have made nearly all families eligible for some type of financial aid.

In general, there are four types of financial aid:

SCHOLARSHIPS Money awarded to students based on academic or other achievements to help pay for educational expenses. Scholarships are another form of gift aid and generally do not have to be repaid.

GRANTS - Grants are a form of gift aid that doesn t have to be repaid (unless, for example, the student withdraws or unsuccessful completes all classes will owe a refund.)

Federal Grants

To be considered for any federal grant, the Free Application for Federal Student Aid (FAFSA) must be filed annually. Students are encouraged to apply as early as possible after October 1 prior to the school year during which financial assistance is requested.

State Grants

SKYCTC offers the following state grants/scholarship programs These programs are administered by the Kentucky Higher Education Assistance Authority (KHEAA). To find out more about these state grants, please click on the links below.

Kentucky Tuition Grant (KTG) SKYCTC does not participate in KTG, as this grant is only available to private secondary institutions.

To view more information about these state programs, to set up a MY KHEAA account, and to view award amounts or status please visit www.kheaa.com.

STUDENT EMPLOYMENT

Student Employment A program that provides part-time employment while enrolled in school. Students must obtain a job and earn their own money (self-help) in order to utilize these funds. Visit our Federal Work Study page for more information.

LOANS

Borrowed money for college that must be repaid. Please see Student loans.

OTHER RESOURCES - EXEMPTIONS AND WAIVER

An exemption or a waiver is a 3rd party payment of all or part of a student's tuition and fee bill ( i.e. not through normal financial aid programs or scholarships).

The financial aid office is notified of all tuition exemptions and waivers. These awards are resources (like any other forms financial aid), so they must be taken into account when awarding financial aid. We may have to adjust your other awards (usually loans first) due to waivers or exemptions, so it is important to notify our office as soon as possible if you know you will be receiving one.