Quick Answer: What Happens To Unused KEES Money?

Can I buy a laptop with Pell Grant money?

While many people assume that Pell Grants are just for paying tuition, the funds can be used for much more.

Any school-related costs, from room and board, to a new laptop, to travel expenses to and from school can be covered with Pell Grant funds..

What can I do with leftover student loan money?

If you borrowed more than what you need, you can return the leftover student loan money to the lender to reduce the amount you owe. The college financial aid office can help you do this. You also have the option of keeping the leftover student loan money.

What does Kheaa stand for?

Kentucky Higher Education Assistance AuthorityThe Kentucky Higher Education Assistance Authority (KHEAA) is a public corporation and governmental agency and instrumentality of the Commonwealth established in 1966 to improve students’ access to higher education.

Is KEES money a federal student aid?

Need-based aid is awarded because you need help paying for college. … You earn merit-based aid by doing something well. Examples would include the KEES administered by KHEAA, an athletic scholarship and local scholarships based on your grades or abilities.

How much is the average college refund check?

Less than $10,000 of that goes to tuition, leaving students with refund checks of roughly $14,000 each year. While these refunds are intended to go toward educational expenses and living expenses – food, rent and utilities – no one monitors how students spend this money.

How long is KEES money good for?

five yearsKEES will expire five years after high school graduation or after eight semesters of use, whichever comes first. If you believe you have remaining KEES eligibility but KEES is not listed on your award notification, please contact the Jefferson Financial Aid Office.

Does scholarship money go to your bank account?

Private scholarships may be sent directly to your college account or they may be sent to you in the form of a check or direct deposit into your bank account. If you win a scholarship and you’re not sure how you’ll receive the money—just ask.

How do I receive my KEES money?

There is no application needed to receive your KEES award. For high school graduates, once your college certifies that you are attending classes, KHEAA will forward your award to your school. Home-schooled and GED students should contact the financial aid office to have the school report your enrollment to KHEAA.

Is Kheaa the same as Fafsa?

The FAFSA is free. KHEAA has an online FAFSA Completion Guide that can help you. Filing the FAFSA online results in fewer errors and quicker results. Much of the information for the FAFSA can be automatically transferred from federal tax returns.

What is Kheaa verification?

Each year, the U.S. Department of Education (DOE) selects Free Application for Federal Student Aid (FAFSA) for a review process called “verification”. Verification is where the student and the parents or spouse, if applicable, provide documentation that supports the information reported on the FAFSA.

Can you use fafsa money for rent?

If a student’s financial aid package amounts to more than tuition, fees and any other billable expenses, he or she typically receives a refund for the remaining amount. That money, typically disbursed at the beginning of the semester, can go toward rent, bills, food and other off-campus necessities.

What is the maximum amount of Kees money?

The maximum payout is $500 a year for a 4.0 GPA in high school, for a total scholarship of $2,000. There also are bonuses for high scores on certain exams, including ACT, SAT, Advanced Placement, International Baccalaureate and Cambridge Advanced International.

Where can KEES money be used?

Students may use their KEES awards at any public college or university in Kentucky, at nearly all private colleges and universities in the state, and at many of the state’s trade schools.

What happens if I don’t use all my scholarship money?

Usually, a school will first subtract funds from the student loan component of the package, leaving any grant or work study money alone. However, students should always clarify with the school when they report a scholarship that they would like student loans removed from the package first.

What is the most KEES money you can get?

For each year you earn a 2.5 or better GPA, you can earn the base amount listed below. For instance, a high school freshman who earns a 3.5 GPA would have a $375 scholarship for each year of college. Amounts may change based on available funds….KEES Base Award Amounts.GPAAmount2.50$1252.601502.701752.7518715 more rows

Is KEES money based on weighted GPA?

You may qualify for KEES if you earn a 2.5 GPA or better at the end of a high school year. If you have a composite score of at least a 15 on the ACT or 710 on the SAT and have earned at least one award based on your GPA, you can also earn a bonus award. Bonus awards range from $36 to $500.

What is Kentucky Tuition Grant?

Additional Information: The Kentucky Tuition Grant (KTG) is a state administered program which provides need-based aid to help Kentucky residents attend eligible Kentucky private colleges. Students should contact his/her institution’s financial aid office for additional details. … Students may re-apply each year.

What is Kheaa College Access Program?

College Access Program Grant CAP Grants help Kentucky’s financially needy undergraduate students attend eligible public and private colleges and universities, proprietary schools, and technical colleges. … Attend an eligible college. Have no past due financial obligations to KHEAA or to any Title IV program.

Do I have to declare scholarship money as income?

Generally, you report any portion of a scholarship, a fellowship grant, or other grant that you must include in gross income as follows: If filing Form 1040 or Form 1040-SR, include the taxable portion in the total amount reported on the “Wages, salaries, tips” line of your tax return.

Can you lose KEES money?

The KEES Scholarship is awarded for the fall and spring semesters, one academic year at a time. If you ever lose your KEES money due to GPA and then regain the 2.5 overall EKU GPA, please contact the Scholarship Office to see if you have regained eligibility.

Do you get to keep unused scholarship money?

One reason it’s so difficult is because most scholarship payments are sent directly to the school and are only allowed to be put toward tuition and fees. In most cases, the student doesn’t get to keep any leftover money for personal use, though some colleges do issue refunds, said Kantrowitz.