Universities offer new aid initiatives
EKU, Morehead, WKU unveil plans
FRANKFORT - In the face of persistent evidence that a college education is becoming less affordable, three more public universities in Kentucky have announced financial-aid initiatives to help students.
Eastern Kentucky University unveiled its plan yesterday at a meeting of the state Council on Postsecondary Education. Only days before, Morehead State University and Western Kentucky University released new programs to help students and families pay increasing college costs.
The University of Kentucky and the University of Louisville have already announced expanded financial-aid efforts.
Figures from the postsecondary council show that college costs consumed 13 percent of a low-income family’s income in 2002, and that had almost doubled to 24 percent in 2006. Low-income families are defined as being in the state’s bottom 20 percent of earners.
Council figures also show that college costs are eating a bigger chunk of family incomes in all categories.
EKU President Joanne Glasser said yesterday her university’s BEACON (Bring Educational Access to the Commonwealth and Our Nation) would be launched with $2.8 million in scholarships in the fall and would grow to $9.9 million by 2010-2011. BEACON will have five kinds of scholarships:
• EKU Regional Scholars will provide $2,611 a semester for students from the 22 counties in Eastern’s service area with a high school grade-point average of 3.25 and a family income of $30,000 or less.
The awards will go to 375 recipients in the fall at a cost of $990,000, and will expand to cover 1,500 students by 2010-2011 at a cost of almost $4 million.
• Math/Science Scholars will start this fall with 22 students each getting an estimated $11,600 annually ($255,000 total), and will grow to 88 students and more than $1 million by the 2010-2011 school year.
Students from the 22-county EKU service area can qualify with a 3.75 high school GPA and strong performance in and a commitment to study mathematics and/or science.
• Scholastic Opportunity Grant will give $750 a semester to students with a 2.5 high school GPA and whose family income is at or below 150 percent of the national poverty level. Recipients also must be eligible for the federal Pell Grant. The money pays the cost of tuition, housing and books not covered by federal, state or university grants.
A total of $750,00 will go to 500 students in 2007-2008, and $3 million will be awarded to 2,000 by 2010-2011.
• Transfer Scholars will be available for transfers from the Kentucky Community and Technical College System with a 3.0 average. Recipients receive awards equal to half-tuition at the in-state undergraduate rate, or about $1,305 per semester. The initiative starts with 200 students in the fall at a total cost of $520,000.
The program will expand to 350 students and $910,000 by 2010-2011.
• Cover to Cover provides up to $400 a semester textbook allowance for first-year, full-time, in-state students with demonstrated need who do not receive textbook aid through the Scholastic Opportunity Grant.
It will go to 300 students in 2007-2008 at a total cost of $240,000. By 2010-2011, a total of $960,000 will be shared by 1,200 students.
Meanwhile, Morehead State University President Wayne Andrews apprised the council of his university’s Eagle Access program to assist low-income students:
• Eagle Access will cover the difference between the student’s financial-aid package and the actual cost of tuition, room and board and books for students whose family income is at or below 120 percent of the federal poverty level. The program starts this fall with 100 students at a cost of $250,000, and increases to 400 students and $1.5 million by 2010-2011.
• Morehead’s KCTCS Transfer Scholarships provide $2,000 to $2,500 to encourage qualified community and technical college students and graduates to transfer to Morehead, and $270,000 will be awarded this fall.
WKU said last Friday it was creating its TOP It Off program to help students from low-income families.
Starting this fall, Western will make up the difference between the cost of attending WKU and the amount of federal, state and private aid a student receives.
This will be available to full-time, first-year students with a 2.5 high school GPA and a minimum score of 20 on the ACT college-entrance exam.
WKU President Gary Ransdell said preliminary estimates indicated that 120 students will be eligible this fall at a total annual cost of $320,000. He said that over four years, TOP It Off would provide about 500 students with a total of $1.5 million.
For more on EKU’s BEACON program, call (859) 622-2361. For Morehead’s Eagle Access call 1-800-585-6781, (606) 783-2000 or e-mail admissions@moreheadstate.edu. To learn about WKU’s TOP It Off, go to www.wku.edu/Info/FinAid, call (270) 745-2755, or e-mail fa.questions@wku.edu.
