FRANKFORT, Ky. – A good year for the Kentucky Lottery means 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).
What You Need To Know
- Money will be used for need-based programs
- Most of the funds going to CAP and KTG
- Gov. Beshear calls infusion 'historic amount' of aid
- Students attending in-state public and private colleges are eligible
Gov. Andy Beshear announced the increase in early August.
“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.”
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,” Hutchins said. “These funds will assist them with their educational expenses.”
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.