Preliminary data provided by the Kentucky Higher Education Assistance Authority indicates that 13,281 AIKCU students received lottery-funded state financial aid totaling $55.17 million in fiscal 2015.
While the data is not yet final, it gives a clear picture of the importance of Kentucky’s “Big 3” lottery-funded state financial aid programs to Kentucky residents attending Kentucky private colleges. 68 percent of this aid to Kentucky students was distributed from Kentucky’s need-based programs, the College Access Program (CAP) and the Kentucky Tuition Grant (KTG)
Total aid to AIKCU students from the lottery-funded programs has grown by about 23 percent over the last decade, from just under $45 million in 2006 to more than $55 million in 2015.
Total aid to AIKCU students dropped in 2015, a reflection of the unfortunate June 2014 closure of Mid-Continent University. MCU students received about $4 million annually before the institution closed.