Paying for Pharmacy School

Financing a pharmacy education can be challenging. Students fund their education through a variety of means, including loans, grants, scholarships, work, and tuition assistance programs offered by many employers.

The University of Kentucky Office of Financial Aid will assist individuals with information regarding their personal accounts. We have provided here a basic overview of education costs and available funding.

Tuition for Pharm.D. Program

Tuition and fees: College of Pharmacy (Pharm.D.)2008-2009
Resident, per semester: $9,688.00 Per year : $19,376
Non-Resident, per semester: $17,635.00 Per year : $35,270

Additional costs: (based on part-time per credit hour fees for 2008-2009)
Summer after First Professional Year:
PHR 928, Introductory Pharmacy Practice Experience I, 4 credit hours:
Resident: $3,168; Non-Resident: $5,820

For the most current information on tuition and fees,visit the University of Kentucky Office of the Registrar,
Tuition and Fees

Financial Assistance

Financial Aid Deadlines
April 1: UK’s Priority date to complete the Free Application for Federal Student Aid (FAFSA). UK’s Financial Aid office will notify Pharm.D. students in mid-June with the amount of aid they qualify for.

Filing the FAFSA: You may file your FAFSA or Renewal FAFSA online at www.fafsa.ed.gov, or complete a paper FAFSA, available in college financial aid offices. To have your information sent to the University of Kentucky, enter school code: 001989.

Student Loans

All loans are administered by the UK Financial Aid Office http://www.uky.edu/FinancialAid/
Application for these loans requires that you fill out the FAFSA

Important note: Pharmacy is a 9-semester program. Financial aid for the summer semester between the PY3 & PY 4 years must be applied for. Summer applications are available March 1 of the PY 3 year.

Federal Direct Loans – General Information
A Federal Direct Loan is federal loan assistance which must be repaid. Repayment begins 6 months after you cease to be at least a half-time student. You must attend a one-time entrance counseling meeting and you must sign a promissory note. The maximum loan amount for a professional student is $20,500*. There are two types of direct loans:

Subsidized: The government pays your interest while you are enrolled in school at least half-time. Interest begins to accrue when you drop below half-time status. Subsidized loans are based on financial need.

Unsubsidized: Interest accrues immediately. You may either pay the interest quarterly or you may request that interest be capitalized (added to the loan principle). Unsubsidized loans are not based on financial need.

*At least $12,000 of the $20,500 must be in an unsubsidized loan.

Federal Perkins Loan
The Perkins Loan is a low interest, long-term federal loan. Award amounts vary depending on when you apply, your level of need, and the funding level of the school.

Health Professions Loan
The HPSL is a federal student loan and is restricted to students seeking professional degrees in pharmacy, dentistry or medicine. Loan amounts will vary according to availability of funds. Applicants for this loan must include parental information on the FAFSA each year.

Loans for Disadvantaged Students
The LDS loan, a federal loan program, is restricted to students from low income and disadvantaged backgrounds seeking training in the health professions. Loan amount varies according to availability of funds. Applicants for this loan must include parental information on the FAFSA each year.

Graduate/Professional Federal Direct PLUS loan. A Graduate or Professional student is eligible to borrow up to an amount that does not exceed their cost of attendance minus other financial aid. In addition to completing the FAFSA, the borrower must complete the Graduate/Professional Federal Direct PLUS loan request form. To download the form, go to www.uky.edu/financial aid and go to the Download Page. The current interest rate is 7.9% fixed.

Alternative Loans
* Students can borrow the difference between federal loans and the cost of education. UK's Financial aid office has information on the different types of alternative loans

The American Association of Colleges of Pharmacy (AACP) has a section on their web site with a searchable rfinancial aid database that includes some national scholarship information. Go to www.aacp.org and click on the STUDENT'S link.

For more information contact:

University of Kentucky Office of Student Financial Aid
128 Funkhouser Building
Lexington, KY 40506-0054
Title IV code: 001989
Phone: 859-257-3172
FAX: 859-257-4398
Pharmacy student contact:
Robin Gray,
Assistant Director/Application and
Counselor Coordinator

Pharm.D. Scholarships

College of Pharmacy Grants

Are available by application after completion of the first professional year and thereafter. These scholarships range in value depending on the availability of funds and are based on academic excellence, financial need and other criteria. Applications are available in the Student Services office at the beginning of the fall semester.

UK Academic Scholarships

Are available after your first professional year. Requirements include a GPA of 3.5 or higher in the College of Pharmacy. Average scholarship amount: $1000. Applications will be available through the Student Services office.

College of Pharmacy Student Enhancement Scholarships

Available to all incoming students by application, these scholarships range in value depending on the availability of funds. Factors considered in the evaluation of the application include an essay, leadership experience, awards and recognition, community service and contribution to diversity. Applications will be mailed to the incoming class in May.

Continuing Undergraduate Scholarships

KEES, Legacy, Presidential, Singletary, Governor's, Robinson's. Students with an undergraduate scholarship such as those noted here (or others) may be able to continue that scholarship for a period of time depending on the criteria set by that scholarship. Contact the scholarship administrator directly or contact Sandy Copher in the UK Academic Scholarship office with questions regarding your eligibility to continue to receive the scholarship while in the Pharm.D. program.

Sandy Copher
Office of Academic Scholarships
University of Kentucky
217 Funkhouser Building
Lexington, KY 40506-0054
859-257-4198
slcoph01@email.uky.edu

For Kees Scholarship information contact:
Terri Thomas
State Scholarship Programs Coordinator
Office Financial Aid
128 Funkhouser Bldg.
Lexington, KY 40506-0054
859-257-3172, ext. 230
treed@email.uky.edu

Other

The American Association of Colleges of Pharmacy (AACP) has a section on their web site with a searchable financial aid database that includes many national organization scholarships.

Note: Because Pharm.D. students are considered professional students, they are no longer eligible for federal and state grants (Federal Pell Grant, Kentucky CAP grants, and Federal Supplemental Educational Opportunity Grant).