You are strongly encouraged to apply when the FAFSA becomes available on January 1, 2016 for the 2016-17 AY, and on October 1, 2017 for the 2017-2018 AY. You may apply for federal and state assistance throughout the year but funding may be exhausted for some types of assistance early on in the processing cycle. In order to be eligible for Competitive and Academic Scholarships as a Freshmen you must be admitted by December 1, the Early Action Deadline.
Changes in your financial aid situation, such as the receipt of additional grants/scholarships, must be taken into consideration and may impact your current eligibility for assistance. The latest award notice takes precedence over previous notices.
You must be enrolled at least half-time to receive funding from federal and state financial aid programs including loan programs. Half-time enrollment status is defined as follows: undergraduate - six credit hours; PharmD - six credit hours; graduate, professional doctoral and law - five credit hours. Undergraduate students enrolled less than half-time may be eligible for a Federal Pell Grant if they meet all other Pell Grant eligibility criteria. In addition to the above, to receive aid you must maintain Reasonable Academic Progress (RAP) toward your degree. To meet this requirement, you must successfully complete (earn a grade of A, B, C, D or pass) at least 67 percent of all hours you attempt (including transfer hours accepted towards your UK degree) and maintain at least a 2.0 cumulative G.P.A.
You will receive acknowledgment from the Central Processor after you submit your FAFSA. Review the data and make corrections if necessary. You will receive notification from the UK Financial Aid Office when your financial aid award is available on the myUK portal. If you receive a Perkins or Health Professions Loan, you will receive an e-mail from Campus Partners after you have accepted your loan with instructions for completing required entrance counseling and the promissory note online. If you receive a Federal Direct Loan, you must complete required entrance counseling and the electronic master promissory note online at www.studentloans.gov. All financial aid is credited to your student account to pay your UK charges. Any credit balance will be direct deposited to the checking account you designate.
You have been chosen for verification, but have not completed the process. You have not completed Direct Loan or Perkins Loan entrance counseling. You have not completed your promissory note. You are on Reasonable Academic Progress. If you are less than full-time, your aid will not credit until after the last day to add a class – usually 10 days after classes begin. Since the number of hours for which you enroll determines the amount of money which you are eligible to receive for some types of aid, adjustments to your aid package may be necessary.