How are my scholarships and financial aid handled when I co-op?
Most of our co-op participants have several types of scholarships: William C. Parker, the Singletary, KEES, Governors Scholars – Presidential, National Merit, and Continuing Engineering or the Lester Scholarships
In addition, most co-op participants average $18-20 per hour in pay. That translates into roughly $15,000 per co-op semester (based on 20-22 weeks of work)
How does all this work out?
Singletary and Presidential scholarships, for example, are awarded for eight semesters. The money involved each year changes to keep pace with coverage of full tuition and some additional costs. Should a student be off campus in a co-op position, let’s say for the fall semester of his/her junior year, the full scholarship amount is applied to the student’s account. After paying the one-hour co-op tuition, ($471/$1,090 – in state/out of state) plus the $57.60 engineering course fee and $40.50 in misc student fees – which retain full-time status, mainly for insurance coverage by parents and to maintain eligibility for financial aid, student loans and scholarships – the amount left in the student’s account is direct deposited into the student’s designated checking account (if no direct deposit is set up, the residual amount remains in the student account and will be drawn from the next time fees/tuition is incurred). This money transferred by UK to the student can be set aside and applied to the fifth year’s tuition. The same holds true for the Provost and National Merit Scholarships.
KEES Scholarship money consists of set amounts, as opposed to varying with tuition coverage. This money can be collected for up to eight semesters; however, the student may take five years to use the KEES money. Thus, in the case of a co-op student who is away from campus during, for example, the fall semester of the junior year, an optional request to defer KEES money to the fifth year assures that the senior year is covered. If no request is made, the money is automatically applied to the co-op semester. If a student has a GPA below 3.0, the KEES money will be awarded based on student credit hours. Please contact the co-op office to find out more about this.
Engineering students who apply for “Engineering Scholarships” remain eligible is based on GPA please contact Mary-Michael McDonald in 359-B Ralph G. Anderson Bldg to find out more about Engineering Scholarships and get advice on KEES money. http://www.engr.uky.edu/scholarships/
- Each curriculum sheet within engineering is a four year plan. However, yearly reviews of average time to obtain the engineering/computer science degree result in 4.8 years. Students who finish in four years are usually the ones with significant AP credit, often 18 hours or more, and who know they are headed to advanced degrees in engineering, medicine, law, etc., as opposed to the job market with the B.S. degree.
*A co-op curriculum sheet for each major within engineering is a five year plan.
In either case, all engineering students need to plan ahead for the possibility of a 9th or 10th semester.
Students approved for financial aid for a given academic year receive payments while on co-op assignments. Earning a co-op salary and working closely with advisors in financial aid, may eliminate the necessity for such aids as loans.