LOUISVILLE, Ky. - Sept. 13, 2020 - Kentucky Technical University Corporation, or KTUC, received 501c3 status from the Internal Revenue Service as a tax exempt 509 public charity this week. This allows KTUC to reinvest a substantial share of revenue into the institution rather than corporate taxes.
KTUC or the Kentucky Technical University Corporation operates Kentucky Technical University as well as the Kentucky Institute. KI will provide GED training and adult high school level instruction to Kentuckians needing a secondary education. KI graduates are expected to continue their education at schools such as KTU.
KTUC was founded July 11 2020, as a new university in Kentucky with the mission to be the most affordable, innovative and accessible education in Kentucky. Kentucky trails most of the nation in technology outputs, ranking 44th. Technology Access is also a challenge in the state ranking in the 40s across multiple reports.
Kentucky students will be charged Need Based Tuition using a sliding scale, capped at no more than $1300 per term.
Credits will be offered for things like homelessness, recent incarceration, addiction, teen parents and more. KTU is an inclusive institution seeking to break the cycle of poverty through technology education.
At the top of the tuition scale, KTU will still be the most affordable education in Kentucky and likely among the least expensive in the United States. The university will provide no less than 30% of students a free education. KTUC is a nonprofit, online university in Kentucky. It will also offer technical programs nationally and internationally.
KTU will help Kentuckians complete a college education for about a fourth of the cost of a state school. Initially offering certificate programs and a two year degree, the school anticipates offering four year and graduate programs. The KTU Course Catalogue is available as a free download or for six dollars in paperback.
The status of being a public charity allows the university to accept donations and gifts from corporations and individuals. Donors of KTUC will be able to deduct the amount of their donation from their taxes. Those interested in donating to the school can contact the university at 844-446-2588 or visit the schools fundraiser site https://kytech.fund.
This tax exempt designation is in addition to the 2020 incorporation in Kentucky as a nonprofit focuses attention on students and not profits.
KTU became an Academic Partner of CompTIA recently. CompTIA offers tech certificates which are widely accepted in the IT industry. This partnership makes exams and curriculum available at a considerably discounted rate allowing twice as many students to be certified. The CompTIA certifications and exams are an essential part of KTUC degree plans.
KTUC has also met the School Surety Bonding requirements of the Kentucky Commission On Proprietary Education. Web visitors can review a number of documents at ktuc.org if interested in further information.
The final milestone, before admitting students is a state license as a post secondary educational institution. KTU anticipates applying for this within the month.
More About KTU
KTU aims to tackle student debt by being priced low enough to be affordable without student loans. Monthly payment plans will be available once the school is operating.
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