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Last updated 3:53PM ET
September 20, 2018
WOUB Local News
WOUB Local News
Kentucky Student Loans in Trouble
(WOUB) - The state agency that loans to Kentucky's
college students is running out of money while it waits for new federal funds.

Officials say the Kentucky Higher Education Assistance Authority will run out of money by Friday.

Some state universities open for
classes on Monday.

The new money is expected to arrive on Aug. 21, The Lexington Herald-Leader reported on its Web site.

The agency's vice president, James Ackenson, says it is also awaiting approval of a $50 million bridge loan.

Once the bridge loan funds are spent, the agency expects to use
new federal funds to provide another $175 million this fall to about 76,000 students.
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