You are here: Home How to Apply Financial Aid: Start-to-Finish Step 8: Future Cost and Loan Repayment

Step 8: Future Cost and Loan Repayment

by wbpart01 last modified Dec 21, 2012 12:02 PM

The Kentucky Higher Education Assistance Authority (KHEAA) has launched a financial literacy website. The first video is available and concerns cash basics. Additional videos will be released periodically this fall.

College costs typically increase each year. To learn more about Kentucky's tuition policy for public colleges and universities, visit Kentucky's Council on Postsecondary Education.

The State of KY designates funds to public colleges and universities around the state. This funding, in part, helps to subsidize some of the costs for the residents of KY who attend U of L. Review the Governor's Executive Budget Recommendation for the 2012 - 2014 Biennial Budget for U of L 2013 (adobe pdf) on the Office of State Budget Director's website.

Increases in tuition are recommend by the University President to the Board of Trustees after consultation with members of the University community and KY's Council on Postsecondary Education. You can view tuition trends at U of L online.

Students can have a significant impact on tuition and fee decisions and other budget decisions by working through your student government, state legislators, congressional representatives in the House and Senate, and your student representative on KY's Council on Postsecondary Education.

The U.S. Department of Education requires all students to complete an exit interview upon graduating or otherwise leaving school. We will send notification to complete this interview. It is an online session that will provide you with details on loan repayment options and other information.

If you borrowed a Federal Stafford Loan, then you will have a Master Promissory Note (MPN) listing repayment information and your responsibilities as a student loan borrower.

Use the Federal Stafford Loan Repayment Calculator to view information on repayment including your likely monthly payment, repayment term, and repayment schedule based on the amount of your Stafford Loan. 


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