Students based in Kentucky will be eligible for $15m of additional need-based college financial aid programs from the Kentucky Higher Education Assistance Authority (KHEAA) following a promising financial year for the state lottery.
Announcing the financial increase late last week, Gov. Andy Beshear encouraged Kentucky locals to take advantage of the ‘historic amount’ of aid, stating: “We need more of you to get that higher education, to get that skilled trade. We need more four-year college graduates here in Kentucky; we need more people with a skill and a trade out there.”.
The additional funds are now set to be used mostly for two need-based programs: the College Access Program (CAP) Grant and the Kentucky Tuition Grant (KTG) – both of which are funded by lottery proceeds.
CAP Grants are available to Kentucky undergraduate students attending public and private colleges, universities and trade schools in the state with the maximum award being $2,200.
Regarding KTG funding, up tp $2,960 is up for grabs with this grant and is qualifiable by students who attend the state’s private colleges and universities.
Gene Hutchins, executive director of KHEAA, added: “This extra $15m will be extremely helpful to Kentucky families, many of whom have been affected by the economic downturn caused by the pandemic. These funds will assist them with their educational expenses.”