Your Guide to Completing the Financial Aid Process
Important Financial Aid Information
- Financial aid offers are initially calculated using full-time enrollment and estimated educational expenses. Some awards may be adjusted if your enrollment status changes.
- Your financial aid offer is based on the information currently available to us and may be revised due to changes in your Student Aid Index (SAI), cost of attendance, enrollment status, eligibility requirements or accepting additional financial assistance not included in your current offer. Future changes to federal, state or institutional policies may also affect your eligibility and award amounts.
- The University of Kentucky may replace a university-funded scholarship with a named endowed scholarship or gift of equal value. This substitution will not reduce your total award amount, and all original scholarship terms and conditions will remain unchanged.
- Federal and state financial aid will not be paid to your student account until all required forms are received and processed.
- Accepting the financial aid offered to you does not indicate a commitment to enrolling at the University of Kentucky.
Your Next Steps
- Accept your financial aid offer
- Complete loan requirements (if borrowing)
- Review your bill and payment options
- Create your college payment strategy
Accept Your Financial Aid Offer
- Login to myUK with your linkblue ID (ex. swil0123) and password.
- Select the Menu button at the top of the screen.
- Select "Financial Aid" listed under Financial & Meal Plans.
- Click on View & Accept Offers tab to review offers.
- Read and sign the Consent and Obligation Form.
- Accept or decline each aid offered and submit.
You can also use this video as a walkthrough guide to review and accept your Financial Aid Offer.
Accept Your UK Scholarship
Be sure to review your scholarship award letter for instructions on what to do next if you receive an academic or competitive scholarship from UK.
Complete Federal Direct Loan Requirements
All first-time student borrowers must complete the Master Promissory Note (MPN) and Loan Entrance Counseling. Federal student loans will not appear as a credit on your bill until this step is complete. To sign-in, use the same student FSA ID used to submit the FAFSA. For more information about the Federal Student Loans, click here.
Review Your Bill and Payment Options
- Students are billed each semester. Billing statements are emailed to the student’s UKY email address. Your fall bill will be available on August 1 and due August 22. Your spring bill will be available on January 1 and is due January 22.
- Financial aid offers will begin crediting to your student account as early as 10 days before the start of the term, assuming all eligibility requirements are met.
- Your enrollment status will be reviewed after the last day to add or drop a course for the semester. At that time, if your enrollment is less than full-time, your financial aid will be adjusted.
- Consider setting up “Guest Access” in myUK to give your parents or guardians convenient access to make online payments and help with account management.
- Students enrolled at least half-time are eligible to charge books to their student account, up to $750 each semester for the fall and spring, and $500 for the summer at the UK Bookstore.
- If your financial aid exceeds your charges for the term, you will be issued a refund by Student Account Services so you can pay for any other educational expenses. Enroll in direct deposit for refunds via myUK > My Info > Direct Deposit.
Payment Options
The standard payment option requires payment in full of the balance on the due date. However, we know that it is not possible for all students and families. Therefore, we provide you with options that will allow you to customize a plan using an installment payment option, additional loan options or a combination of both. You are not obligated to participate in any of these programs. Yet we encourage you to only borrow what you need for this year and re-evaluate your options in the following years.
Create Your College Payment Strategy
Financial success starts with a plan. Your offer of financial aid explains what you may still need to pay towards the remaining cost for tuition and fees, and housing and food. But what about the everyday costs of books, transportation to campus from home, personal items, activities, and entertainment? Estimates are provided on the financial aid notification; however, we encourage you to compare that to your needs and personal spending habits when developing your budget. The UK Financial Wellness team has developed a worksheet to help you create a budget, see what money you have and what you still need to pay for the educational expenses, and assess the different payment options the University offers to help bridge the gap or make your financial resources go further.
Option 1 - Set Up an Installment Plan Each Semester
If your remaining costs are $500 or more, you may divide your payments into 3 or 4 divided installments throughout each semester.
Option 2 - Apply for a Federal Parent PLUS Loan
Dependent students' biological or adoptive parents or stepparents with no adverse credit history can apply to borrow additional funds. Parents who previously borrowed from a Federal Parent PLUS Loan may continue borrowing under current rules for up to three additional years, or until the student finishes their current degree program (whichever comes first).
Effective July 1, 2026, Federal Parent PLUS Loan borrowers will be subject to new annual limits, lifetime caps, and restricted repayment plans. Additional information can be found here.
Option 3 - Private Loan
Credit-worthy borrowers may explore private loan options for additional loan options. You or your parents may borrow up to your remaining Cost of Attendance. Use our Private Loan Comparison Chart to explore different loan programs.
Option 4 - A Flexible, Combined Approach
Find the options that work for you. For example, you can borrow a small amount from option 2 or 3 and sign up for the installment payment plan for the remaining amount. This option will allow you to keep borrowing to a minimum and still maintain manageable monthly payments.
*note: you may need to include a small monthly payment on interest for the loan to be paid to the lender as part of your overall monthly expense.
Additional Resources
Private Scholarships
Scholarship Universe is a great place to find private scholarship opportunities. It may also be helpful to check with your employer (if applicable), your parents’ employers, or local organizations like churches, credit unions, and community groups for additional funding options.
If you receive a private scholarship from an outside source, please report it to the Office of Financial Aid and have the donor send the scholarship funds to the Office of Student Financial Aid along with the student's name, the semesters the funds cover, and the your student ID number. For questions, please contact externalschol@uky.edu.
Summer Savings
You are encouraged to set a realistic summer savings goal to help support your educational expenses. Earning and saving over the summer can help cover costs like books, supplies and personal expenses, which may reduce the need to borrow during the school year. It’s also a terrific way to build strong financial habits and take an active role in managing the cost of your education.
Student Employment
At UK, all students have the opportunity to work on campus and earn money that can be used towards their personal expenses. Working while in school can help you earn money for everyday expenses, reduce out-of-pocket costs, and gain valuable work experience that supports your academic and career goals. Many positions offer flexible schedules designed to fit around classes, making it easier to balance work and school responsibilities.
Technical Questions?
If you need technical assistance accessing your financial aid information, please contact UK Information Technology Customer Service at 859-218-HELP (4357) or visit go.uky.edu/techhelp.