{"data":{"id":"us-ky/krs-164.7927","jurisdiction":"us-ky","citation":"KRS 164.7927","heading":"Student financial aid and advancement trust fund.","body":"(1) (a) The student financial aid and advancement trust fund created by KRS\n164.7911 is intended to provide financial assistance that encourages student\naccess to postsecondary education including regionally accredited or\nnationally accredited technical institutio ns and colleges, community colleges,\npublic universities, and regionally accredited private colleges and universities.\n(b) Appropriations shall be made to the trust fund and allotted to universities and\nthe Kentucky Community and Technical College System o r to the Kentucky\nHigher Education Assistance Authority as the Council on Postsecondary\nEducation deems appropriate. Appropriations made to this trust fund may be\nused for the College Access Program, the Kentucky Tuition Grant Program,\nor other student fin ancial aid programs as authorized by the General\nAssembly.\n(c) The council shall establish separate subsidiary programs and related accounts\nthat are consistent with this section, the adopted strategic agenda, the biennial\nbudget process, and the availabi lity of any resources to the student financial\naid and advancement trust fund.\n(2) (a) The Council on Postsecondary Education, in consultation with the Kentucky\nHigher Education Assistance Authority, shall determine the nature and\npurposes of budget reques ts for funding support to the student financial aid\nand advancement trust fund. The determination shall be based upon the\nfinancial assistance needs and requirements of students of postsecondary\nregionally accredited or nationally accredited private or public institutions.\n(b) A minimum of twenty -five percent (25%) of the student financial aid and\nadvancement trust fund appropriation shall be allotted for the purpose of\nassisting individuals whose available income, determined in accordance with\npart F of Ti tle IV of the Higher Education Act of 1965 as amended, is at or\nbelow one hundred percent (100%) of the federal income poverty guidelines.\nFrom the foregoing allotment, administrators of programs funded under this\nsection may exercise discretion in accorda nce with 20 U.S.C. sec. 1087tt in\nawarding student financial assistance benefits on a case -by-case basis to\nindividuals with disabilities, as defined by Title II of the Americans with\nDisabilities Act, 42 U.S.C. secs. 12131 et seq., whose available income is\nabove the federal income poverty guidelines, whether or not the student\nqualifies for vocational rehabilitation services. Any funds remaining after all\neligible students have been served under this paragraph may be used for other\npurposes as provided in this section.\n(3) The council shall develop the criteria and process for submission of an application\nunder this section. Financial assistance that may be awarded by the council shall be\nconsistent with the adopted strategic agenda, the biennial budget pr ocess, and the\navailability of any resources to the student financial aid and advancement trust\nfund.","path":["KRS Chapter 164"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4463","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:18Z","sha256":"934419e85ca55374a36b7963e0a166cfdf5802b3923a1a6f0fb38f0f17abf9a1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164.7925","next":"us-ky/krs-164.800"},"notice":"GroundRules: Original legal text. Not legal advice."}