Types of Aid

Need-based and merit-based

Need-based aid includes grants, loans, and work-study. Merit-based aid includes scholarships. Here we will focus primarily on need-based aid with a brief overview of our three types of scholarships: general merit, special, and premier.

Need-Based Aid

Need-based financial aid will be typically based on your Student Aid Index (SAI) beginning in the 2024-25 academic year.  The SAI is a relative measure of your family’s eligibility for need-based aid.  Your SAI is determined by information from your FAFSA.  These factors include income, family size and assets, including business and farm net worth.  In addition to the FAFSA, we require the Centre Aid Form which assists us in determining your eligibility for institutional aid.

Need-Based Aid Types

A grant is a gift. You do not have to repay it. You must file an application for financial aid so that the amount of the grant award can be determined. Grants can come from the college, the state, or the Federal Government. These awards are based on need and are awarded for one year at a time.

Pell Grant

A federally funded program. You are automatically considered for the grant when you submit the FAFSA. Recipients must take a minimum of 12 hours per billing period to receive a maximum Pell Grant.

KHEAA State Grant

The Kentucky Tuition Grant (KTG) is a need-based aid program to help Kentucky residents attend eligible Kentucky private colleges. The College Access Program (KCAP) grant is a need-based aid program to help Kentucky residents attend eligible Kentucky private and public colleges. Centre College may have to reduce the KHEAA grant due to receipt of scholarship dollars. You must take a minimum of 12 hours each long term to receive your state grant.

Centre Endowment Grant

Administered and awarded by the College and funded by Centre’s endowment, alumni gifts, and other income. 

SEO Grant

A federal grant program administered through Centre. Requires no additional application. Eligibility is determined from an analysis of your FAFSA data.

Student loan programs offer low interest rates. Most loans offer delayed repayment, which means that you do not begin loan payments until after you graduate. The Financial Aid Office must certify each student loan application. This will assist you in determining the amount to borrow.

Stafford Loan

Stafford Loan dollars come from the federal government through the William D. Ford Federal Direct Loan Program. The Federal Stafford Direct Loan is a loan that must be repaid after graduation or withdrawal. A student must be enrolled at least half time to be eligible for a Stafford Loan. A subsidized Stafford Loan is need-based and the federal government pays the interest while the student is enrolled in college. An unsubsidized Stafford Loan is not need-based; therefore, the student is responsible for paying the interest while he/she is in school.


The Federal Direct Parent Loan for Undergraduate Students (PLUS) is limited to parent borrowers and can be obtained from the government. The 2023-24 PLUS Loan has a fixed interest rate capped at 8.05%. Repayment begins within 60 days after the loan is disbursed and can extend over 10 years.

Apply for a PLUS Loan

Alternative/Private Loan Options

In some cases, alternative/private loans have interest rates, repayment terms, and deferment options that are less favorable than those of the Direct Loan Programs. FastChoice will help educate students and will provide an historical listing of alternative loan lenders that Centre College students have used over the last four years. Centre College does not rank, recommend, promote, or endorse any of these lenders. We strongly encourage you to review each lender’s information considering interest rates, loan fees, repayment terms, and deferment and forbearance options before choosing a lender. The student is free to choose any lender.

FastChoice Listings

The Federal Work-Study Program allows you to work on campus to earn money to help pay for college. You are paid for hours worked, and you gain valuable practical experience. Your hours are arranged around your class schedule. You must be eligible based on your FAFSA to qualify for Federal Work-Study.

Merit-Based Scholarships

Scholarships are gifts that are based upon academic achievement, extracurricular activities, and leadership. Scholarships are renewable for four years and carry an obligation to perform at a certain level of achievement.

More About Centre Scholarships

Scholarship Types

General Merit Scholarships

No separate application is required, we automatically consider you for these scholarships when we consider you for admission. General merit scholarship consideration is based on a comprehensive review of your credentials and contributions. They are awarded to approximately half of our annual applicant pool. ​​​​​​Renewable based on GPA.

Special Scholarships

These scholarships recognize students with special interests who demonstrate the potential to contribute to certain programs or areas of campus life. A separate application or candidate form is required for students to compete for these special scholarship opportunities.

Premier Scholarships

Centre’s two most competitive scholarship programs recognize 10 incoming students per program annually. We welcome nominations for our premier scholarship programs, although a nomination is not required for consideration. Applicants are automatically considered for the Grissom Scholars Program, but a separate application is required for the Lincoln Scholars Program. Renewable based on GPA and program participation.

For Kentucky high school graduates. The amount earned is based on your high school GPA and ACT score. The amount listed on your financial aid award is a Centre College estimate—revised in September once we have your official KEES award amount. Check your estimated KEES award online by visiting the KHEAA web site.


All scholarships from agencies other than Centre must be reported to the Financial Aid Office. (Aid adjustments may have to be made.) Scholarships of $1000 or less normally require no change to the Centre grant. Scholarships of $1000 or more may reduce the Centre grant.

Additional Information