How are my scholarships and financial aid handled when I co-op?
Most of our co-op participants have several types of scholarships. Learn more about scholarships here.
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 are awarded for eight semesters. The money involved each year changes to keep pace with coverage of full tuition and some additional costs. If a student is in a co-op position during the fall semester of his/her junior year, the full scholarship amount would be applied to the student’s account. After paying the one-hour co-op tuition, ($471/$1,090 – in state/out of state), plus the engineering course fee and miscellaneous student fees, the amount left in the student’s account is direct deposited into the student’s designated checking account. 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 and does not vary with tuition increases. 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.
- Each curriculum sheet within engineering is a four-year plan. However, the average time to obtain an engineering/computer science degree is 4.8 years. Students who finish in four years are usually the ones with significant AP credit, often 18 hours or more, and who plan to pursue 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 ninth or tenth 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 need for student loans.