Financial Assistance: Grants, Loans & Scholarships
 Financial Assistance is available in some form to
those who qualify. Financial aid programs include student loans, grants and scholarships.
Spencerian College also employs several deserving students on a part-time basis and is approved for the training of veterans, veteran's survivors, and children of disabled veterans under public laws administered by the U.S. Veterans Administration. Spencerian College also serves clients of Kentucky Vocational Rehabilitation. A student who has a substantial handicap to employment may be eligible for financial assistance while training.
The Spencerian College Financial Planning administrators can help you develop the perfect financial aid package according to your needs. Please contact us for more information.
Grants
Federal Pell Grants
- This is a grant for those who qualify
- No repayment is required
- For undergraduates only
- Amount of award varies
 Pell Grants are awards to help undergraduates pay for their education after high school. For many students, these grants provide a "foundation" of financial aid, to which aid from other
federal and non-federal sources may be added. Unlike loans, grants don't have to be paid back. Pell Grant awards for the academic year will depend on program funding. How much you actually get will depend on your Expected Family Contribution (EFC) number, the cost of education at your school, whether you are a full-time or less than half-time student, and how long you will be enrolled in the academic year.
Federal Supplemental Educational Opportunity Grants (FSEOG)
- This is a grant for those who qualify
- No repayment is required
- Campus-based program
- For undergraduates only
- Amount of award based on need and availability of funds
A Federal Supplemental Educational Opportunity Grant (FSEOG) is an award to help you pay for your education after high school. It is for undergraduate students with exceptional financial need (with priority given to Pell Grant recipients), and does not have to be paid back.
College Access Program (CAP)
College Access Program Grants are for qualified Kentucky students with proven need. Amounts are determined by the Kentucky Higher Education Assistance Authority Grant Program. CAP Grants awards for the academic year will depend on program funding. How much you actually get will depend on your Expected Family Contribution (EFC) number, the cost of education at your school, whether you are a full-time or less than
full-time student, and how long you will be enrolled in the academic year. Repayment is not required.
For more information or
personal assistance
regarding grants or other
financial aid, click here to
fill out and Information
Request Form.
Institutional Code of Conduct for Education Loans [pdf]
Loans
FFEL Stafford Loans
- Subsidized or unsubsidized
- Student must be enrolled at least half-time
For qualified student borrowers, Stafford Loans are either subsidized or unsubsidized. If you are a regular, degree-seeking student, enrolled in an eligible program of study at least half-time, you may receive a Stafford Loan, as long as you meet other general eligibility requirements.
A subsidized loan is awarded on the basis of financial need. If you qualify for a subsidized loan, the federal government pays interest on the loan until you begin repayment and during authorized periods of deferment thereafter.
An unsubsidized loan is not awarded on the basis of need. If you qualify for an unsubsidized loan, you will be charged interest from the time the loan is disbursed until it is paid in full. You can choose to pay the interest or allow it to accumulate. If you allow it to accumulate, it will be capitalized; that is, the interest will be added to the principal amount of your loan and will increase the amount you have to repay. If you pay the interest as it accumulates, you will repay less in the long run.
Federal Perkins Loans
- This is a loan for those who qualify
- It must be repaid
- For undergraduate and graduate students
- Campus-based program
- Amount of loan based on need and availability of funds
The Perkins Loan is a low-interest loan to help you pay for your education. If you are a new borrower, and you are attending at least half-time, you have a "grace period" of nine (9) months after you graduate, leave school, or drop below half-time to repay your loan. If you are less than a half-time student, your grace period may be different.
PLUS Loans
- Available to parents of undergraduate students
- Requires a credit check or co-signer
- Loan amount is limited to cost of attendance minus other financial aid for which you are eligible
 The PLUS Loan Program enables parents with good credit histories to borrow to pay the educational expenses of each child who is a dependent undergraduate student enrolled at least half-time. To be eligible to receive a PLUS Loan, your parents generally will be required to pass a credit check. Your parents might also qualify for a loan if someone who is able to pass a credit check agrees to co-sign the loan. You and your parents must also meet other general eligibility requirements for federal student financial aid. The yearly limit on the PLUS Loan is equal to your cost of attendance minus any other financial aid for which you are eligible.
Career Education Funds (CEF)
Career Education Funds (CEF) are available for students not qualifying for adequate amounts of other financial assistance. Loans will be applied to tuition only. Students must not be in default on any type of student loan at any institution. The loan amount varies according to need. Students may borrow a minimum of $500 per academic year (to be repaid in 12 months) up to a maximum of $4,000 per academic year (to be repaid in 60 months). The interest rate is 8% simple interest. Students must agree to make a minimum of $1,000 cash payments towards their tuition in installments while attending school during the shorter of 12 months or the loan term. Monthly payments of principal and interest will begin two (2) months after studies cease for any reason and will continue until the loan is paid in full.
Scholarships
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Kentucky
Educational Excellence
Scholarship (KEES)
Kentucky high school
students who try to get the
most from high school by
studying diligently and
making good grades (C+ and
above) can earn scholarships
for college through the KEES
program. Students should
contact their high school
counselors for additional
information.
The aggregate volume of
scholarships awarded is up
to $60,000. Additional
information can be obtained
from the Admissions Office.
Spencerian Scholarships
Scholarships are available to selected high seniors based on their seventh semester high school class ranking, grade point averages (GPA), aptitude/achievement test scores and career essays. Up to 20 awards are for $500 per quarter and are renewable for up to 9 consecutive quarters, depending on program length, as long as the student maintains at least a 3.0 GPA while a Spencerian student. In addition to the above scholarship, there is a full-tuition scholarship for high school valedictorians who enter Spencerian within six months of graduating from high school. Applications and the above documents must be submitted by the end of April each year. These scholarships are applicable for either June or September admission immediately following their high school graduation.
Each year Spencerian
College hosts a Scholarship
Day for prospective students
wishing to attend.
Applicants compete for
scholarships by taking a
standardized exam, and
scholarships are awarded in
amounts of $250 to $3,000
based on exam scores.
Tech Prep High School
Program
Scholarships are available through Spencerian's Tech Prep High School program. High schools that have developed a Tech Prep articulation agreement with Spencerian are awarded $500 scholarships to give to seniors who may be considering Spencerian College. The high school may use their own criteria in awarding these scholarships. The number of Tech Prep scholarships each high school receives is based on the number of programs the school has articulated.
GED Scholarship
Program
As evidence if its
commitment to the adult
learner in the Commonwealth
of Kentucky, each year
Spencerian College will
offer two scholarships
valued at up to $3,000 ($500 per term for up to six terms) as a reduction of
tuition. The recipients must
receive an overall total
score of 540 or higher on
the GED. The recipient must also
meet all other Spencerian
College entrance
requirements, maintain
continuous full-time status,
and minimum quarterly GPA
3.0.
In addition, Norton
Healthcare, Jewish Hospital,
Clark Memorial Hospital, and
U of L Health Care
University Hospital offer
scholarship opportunities
for qualified medical
students. See the Graduate
Employment Office for
details.
Healthcare Scholarships
Norton Healthcare, Jewish
Hospital, Clark Memorial
Hospital, and U of L Health
Care University Hospital
offer scholarship
opportunities for qualified
medical students in specific
allied health programs. See
the Graduate Employment
Office for details or
contact the hospital.
Veteran's Approval
Specific programs at Spencerian College are approved for persons eligible to receive VA educational benefits. Contact the school VA certifying official for a list of approved programs.
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