A good year for the Kentucky Lottery means that the state’s students will be eligible for $15 million more in need-based college financial aid programs from the Kentucky Higher Education Assistance Authority (KHEAA).
Gov. Andy Beshear announced the increase during his July 22 statewide briefing.
“Due to higher lottery revenues, need-based student financial aid will receive another $15 million above what we expected for the year to come,” Beshear said, encouraging Kentuckians to take advantage of a “historic amount” of aid.
“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,” Beshear added.
Gene Hutchins, executive director of KHEAA, welcomed the additional funds.
“This extra $15 million 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,” Hutchins said.
The additional funds will be used mostly for two need-based programs: the College Access Program (CAP) Grant and the Kentucky Tuition Grant (KTG). Both programs are funded by lottery proceeds and are based on financial need.
CAP Grants are available to Kentucky undergraduate students attending public and private colleges, universities and trade schools in the state. The maximum award is $2,200.
Students attending the state’s private colleges and universities may also qualify for up to $2,960 in KTG funding.
For more about CAP, KTG and other state student aid programs, visit www.kheaa.com and click on the Paying for College tab.
KHEAA is the state agency that administers the Kentucky Educational Excellence Scholarship (KEES) and other programs to help students pay their higher education expenses. It also disburses low-cost Advantage Education Loans for its sister agency, the Kentucky Higher Education Student Loan Corporation (KHESLC).
For more information about Kentucky scholarships and grants, visit www.kheaa.com; write KHEAA, P.O. Box 798, Frankfort, KY 40602; or call, 800-928-8926, ext. 6-7214.