State financial aid to AIKCU students accounts for less than 5 pct. of state postsecondary spending

Grant aid to AIKCU students is less than 5 pct. of state postsecondary spending

Kentucky’s student financial aid programs are a crucial source of funds for Kentucky students attending Kentucky nonprofit, private colleges and universities. In fiscal 2012, AIKCU students received over $56 million in lottery-funded grant aid from the Kentucky Higher Education Assistance Authority (KHEAA) through Kentucky’s “Big 3” aid programs: the need-based College Access Program (CAP), need-based Kentucky Tuition Grant (KTG), and theĀ Kentucky Educational Excellence Scholarship (KEES).

State student aid is a part of the affordability equation that also includes students, the federal government, and AIKCU institutions themselves, who provide more than $220 million in financial aid from their own budgets each year. While it’s incredibly important, the $56 million that AIKCU students receive in state aid equals less than 5% of the more than $1 billion in overall state spending on postsecondary education.