FRANKFORT — High school seniors and postsecondary students needing student financial aid for fall 2023 can file the 2023–24 Free Application for Federal Student Aid, or FAFSA, beginning Oct. 1, according to the Kentucky Higher Education Assistance Authority.
“In the first five months of 2022, the Beshear-Coleman administration helped bring more than $3.9 billion in new investment and more than 6,700 jobs for Kentuckians,” Lt. Gov. Jacqueline Coleman said in a press release Sept. 1. “To take full advantage of those opportunities and to fill those, we need more students to get the post-high school education they need, whether that means technical training or traditional college degrees.”
Even students who don’t think they will qualify for financial aid should submit the FAFSA. Rules governing student aid programs sometimes change, and students who don’t file the FAFSA may miss out on free money that could help pay for their education.
The parents or guardians of students considered dependents under federal guidelines must also provide financial information on the FAFSA. This affects most students going directly to college from high school, who are typically considered a dependent.
The FAFSA asks for information about income, assets and expenses. The data provided on the FAFSA determine whether students qualify for federal grants, work-study and loans, as well as several state grants and scholarships. Many colleges also use the FAFSA to award their own grants and scholarships.
Some student aid programs have limited funds and provide awards on a first-come, first-served basis, so students and families should submit the FAFSA as soon as possible.
KHEAA is the state agency that administers the Kentucky Educational Excellence Scholarship (KEES), need-based grants and other programs to help students pay their higher education expenses. Kentucky Lottery funds pay for many of those programs. For more information about Kentucky scholarships and grants, visit kheaa.com; write KHEAA at P.O. Box 798, Frankfort, KY 40602; or call 800-928-8926.
In addition, KHEAA administers the KY Saves 529 program, which allows families to save for college. For more information about KY Saves 529, visit kysaves.com.
KHEAA also disburses private Advantage Education Loans for its sister agency, KHESLC. For more information about Advantage Education Loans, visit advantageeducationloan.com.