Thursday, January 18, 2018

Financial Aid Could See Small Net Increase, Some Priority Shifts

| Post by Perry Papka |

Governor Bevin’s executive budget calls for:

  • Increases to CAP and KTG needs-based aid and KEES scholarships
  • Level funding for Work Ready and Dual Credit scholarships, along with smaller pharmacy and osteopathic medicine programs
  • An end to four other scholarships: Early Coal Country College Competition, Teachers, Early Childhood, and Work Study

Overall, the recommended budget would increase financial aid funding by $2.2 million for 2019 and add a further $8.2 million for 2020. 100% of lottery revenue is going to financial aid, with needs-based CAP and KTG receiving only 44% of the total, as compared to the 55% required by statute.

Below, the details are shown in three tables to track three different kinds of funding.

  • Lottery general fund dollars
  • Lottery restricted fund dollars that come from unclaimed prizes and go to KEES scholarships
  • Other sources

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