Officials with the agency overseeing Kentucky’s college financial aid expect to figure out how many students will be receiving benefits in the next week.

The state doles out around $100 million in financial aid annually, but that money is on a first come first served basis.

Erin Klarer is with the Kentucky Higher Education Assistance Authority. She says more people are understanding the importance of higher education.

“But at the same time there’s a lot more demand and the dollars haven’t been increasing at the same rate,” she says.

Klarer says only one-third of eligible students applying for the state’s College Access Program grant receive the funding.

Further, she says there is over $100 million in unmet student aid need between the two state grants offered. That number, according to the agency, is projected to climb.

Students will learn if they’ll be receiving financial aid in the coming weeks.

(Image via Shutterstock.)