Campus News

Cash Out Program Applications Now Open

Money.
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LEXINGTON, Ky. (April 26, 2021) — University of Kentucky Transportation Services is now accepting applications for its Cash Out program. Now in its fifth year, Cash Out financially rewards employees who choose to forego a parking permit for one year.

The program is limited to the first 100 qualified applicants.

Cash Out provides participants with $200 over a one-year period, evenly divided across paychecks. It’s designed for employees who are interested in alternative modes of transportation, such as riding the bus, bicycling, carpooling or walking to campus. 

“Cash Out provides a tangible benefit for employees who choose a car-free mode of transportation,” said Sandra Broadus, Transportation Services’ alternative transportation manager. “Its goal is to support healthy behaviors while also decreasing the number of motor vehicles on campus.”

The financial benefits to participating extend well beyond $200. Over the enrollment period, participants could see a total cost savings of nearly $900 per year associated with not purchasing a parking permit, as well as reduced fuel and vehicle maintenance expenses. Participants may also see health-related benefits if they choose walking or bicycling as their primary method of commute.

The Cash Out program is only open to employees who have had a parking permit for the 2020-2021 fiscal year (July 1-June 30) or are a new employee with a start date of September 2020 or later. Applicants must also have work assignments that are day shift and based on main campus.

The online application for the Cash Out program is now open and will close after the program is full. Transportation Services will begin reviewing applications in June and will notify recipients as they are approved. Interested employees are encouraged to apply as soon as possible. 

As the state’s flagship, land-grant institution, the University of Kentucky exists to advance the Commonwealth. We do that by preparing the next generation of leaders — placing students at the heart of everything we do — and transforming the lives of Kentuckians through education, research and creative work, service and health care. We pride ourselves on being a catalyst for breakthroughs and a force for healing, a place where ingenuity unfolds. It's all made possible by our people — visionaries, disruptors and pioneers — who make up 200 academic programs, a $501 million research and development enterprise and a world-class medical center, all on one campus.   

In 2022, UK was ranked by Forbes as one of the “Best Employers for New Grads” and named a “Diversity Champion” by INSIGHT into Diversity, a testament to our commitment to advance Kentucky and create a community of belonging for everyone. While our mission looks different in many ways than it did in 1865, the vision of service to our Commonwealth and the world remains the same. We are the University for Kentucky.