Financial Assistance
Deadline
April 1: UK’s Priority date to complete the Free Application for Federal Student Aid (FAFSA). UK’s Financial Aid office will notify Pharm.D. students in mid-June with the amount of aid they qualify for.
Filing the FAFSA: You may file your FAFSA or Renewal FAFSA online at www.fafsa.ed.gov, or complete a paper FAFSA, available in college financial aid offices. To have your information sent to the University of Kentucky, enter school code: 001989.
Student Loans
- All loans are administered by the UK Financial Aid Office http://www.uky.edu/FinancialAid/
- Application for these loans requires that you fill out the FAFSA
Federal Direct Loans – General Information
A Federal Direct Loan is federal loan assistance which must be repaid. Repayment begins 6 months after you cease to be at least a half-time student. You must attend a one-time entrance counseling meeting and you must sign a promissory note. The maximum loan amount for a professional student is $20,500*. There are two types of direct loans:
Subsidized: The government pays your interest while you are enrolled in school at least half-time. Interest begins to accrue when you drop below half-time status. Subsidized loans are based on financial need.
Unsubsidized: Interest accrues immediately. You may either pay the interest quarterly or you may request that interest be capitalized (added to the loan principle). Unsubsidized loans are not based on financial need.
*At least $12,000 of the $20,500 must be in an unsubsidized loan.
Federal Perkins Loan
The Perkins Loan is a low interest, long-term federal loan. Award amounts vary depending on when you apply, your level of need, and the funding level of the school.
Health Professions Loan
The HPSL is a federal student loan and is restricted to students seeking professional degrees in pharmacy, dentistry or medicine. Loan amounts will vary according to availability of funds. Applicants for this loan must include parental information on the FAFSA each year.
Loans for Disadvantaged Students
The LDS loan, a federal loan program, is restricted to students from low income and disadvantaged backgrounds seeking training in the health professions. Loan amount varies according to availability of funds. Applicants for this loan must include parental information on the FAFSA each year.
Graduate/Professional Federal Direct PLUS loan. A Graduate or Professional student is eligible to borrow up to an amount that does not exceed their cost of attendance minus other financial aid. In addition to completing the FAFSA, the borrower must complete the Graduate/Professional Federal Direct PLUS loan request form. To download the form, go to www.uky.edu/financial aid and go to the Download Page. The current interest rate is 7.9% fixed.
Alternative Student Loans
* Students can borrow the difference between federal loans and the cost of education. UK's Financial aid office has information on the different types of alternative loans
The American Association of Colleges of Pharmacy (AACP) has a section on their web site with a searchable rfinancial aid database that includes some national scholarship information. Go to www.aacp.org and click on the STUDENT'S link.
For more information contact:
University of Kentucky Office of Student Financial Aid
128 Funkhouser Building
Lexington, KY 40506-0054
Title IV code: 001989
Phone: 859-257-3172
FAX: 859-257-4398
Pharmacy student contact:
Robin Gray,