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Mon March 25, 2013
State Financial Aid Officials to Decide Which Students Get Help
Officials with the agency overseeing Kentucky’s college financial aid expect to figure out how many students will be receiving benefits in the next week. The state doles out nearly $100 million in financial aid annually, but that money is on a first come first served basis.
More than 80,000 students in Kentucky who are eligible for state financial aid will not receive it. Officials say that number has both positive and negative meanings.
Erin Klarer is with the Kentucky Higher Education Assistance Authority. She echoes what others have said about the large number of students seeking state help.
“In some context it’s a good problem to have because so many more are realizing that post-secondary education is required now for good paying jobs,” she said.
But, she also states the obvious: that more students seeking financial aid also means more student debt. According to her agency there’s more than $130 million in unmet need between the state’s two financial aid grants. That number has steadily climbed over the past several years.
Klarer says only one-third of eligible students applying for the state’s College Access Program grant receive the funding.
Students will learn if they’ll be receiving financial aid in the coming weeks.