ELIGIBILITY AND AWARDS
Virtually all families are eligible for some form
of financial aid, therefore it is in your best interest
to apply. Your eligibility for financial aid
is based on the following formula:
Cost of Attendance
- Expected Family Contribution (FAFSA results)
= Financial Need
The financial aid office determines your cost
of attendance based on a survey of regional and
local costs. In addition, The Colorado Commission
on Higher Education (CCHE) annually
recommends guidelines for student living expenses.
(Please see our Cost of Attendance page).
Your "expected family contribution" (EFC) is
determined by the federal government through
an analysis of the information reported on your
FAFSA. The lower your EFC, the greater the
financial need, thus increasing your financial eligibility.
If you have unusual financial circumstances
affecting your ability to pay for college that are
not reflected in your FAFSA, contact the financial
aid office for information concerning
professional judgment appeals. Special circumstances
include, but are not limited to, bankruptcy,
drop in income from the previous year,
or unusual medical expenses. (See Professional
Judgment.)
TYPES OF AVAILABLE AID
Financial aid is funded from a variety of sources
such as federal and state governing agencies,
private donors, and institutional resources. See www.colorado.edu/finaid/typesofaid.html for the types of aid available.
NOTIFICATION AND ACCEPTANCE
OF YOUR AWARD OFFER
Beginning in March, incoming freshmen who
have submitted the FAFSA and been admitted to the university receive a Planning
Letter outlining their estimated financial aid.
Beginning in April, all students who have submitted a FAFSA and required copies of signed tax returns receive an official
Award Offer describing their financial aid.
You must formally accept all loans by calling 303-492-5091. You may also accept your loans via ChooseCU by using your CU Login Name and Identikey Password. From within ChooseCU, under the “Finances” tab, go to the "Financial Aid" channel and follow the "Award Status" link. We offer the maximum loan eligibility, therefore it is your choice to accept the full or a lesser amount. A Promissory Note is sent to you outlining the loan contract. Sign the note and return it to the financial aid office (if you want the loan). Stafford Loan borrowers who have a completed Master Promissory Note on file do not have to sign another.
Note: A parent borrowing the PLUS Loan is
regarded as parental support on in-state residency
petitions. See a counselor or contact the
Residency Classification Office at 303-492-
6868 for further information.
ADDITIONAL INFORMATION
Where/When do I Get My Money?
For registered students, financial aid funds are posted to students’ bills approximately one month before classes begin. Refunds are available approximately three days before classes begin. The federal government requires that we hold Stafford loan funds for first time borrowers for 30 days from the first day of classes. Students or parents who are borrowing federal loan funds for one semester only will receive loan proceeds divided into 2 equal payments; One at the beginning and the second in the middle of the semester.
Adjustments to Aid
Financial aid awards are adjusted to reflect
changes to your file including reported income,
enrollment status, and additional scholarship
funds. A revised Award Offer is mailed to you
outlining the adjustments.
Quality Assurance
CU-Boulder must comply with the federal
Quality Assurance audit program. If you are
selected, you may be asked for additional documentation
to support the information you
provided on the FAFSA.
Satisfactory Academic Progress
In order to remain eligible for financial aid at
CU-Boulder, students must make satisfactory
academic progress toward their degree. satisfactory
academic progress is a federal government
requirement, and is measured by a
number of factors including minimum GPA
standards and completion rates. (See
satisfactory Academic Progress.)
Right to Know
As a prospective or continuing student at the University of Colorado at Boulder,
you have a right to certain information that the university is required by law
to provide. Much of that information is safety related or financial in nature,
but other broad categories are included such as graduation rates, athletics,
and the various costs associated with attending CU-Boulder.
See the Your Right to Know page.
Summer financial aid and Summer Work Study
In addition to the FAFSA, students
must submit a CU-Boulder Summer Financial
Aid Worksheet
(available in February). For more information please see our Summer information page.
Withdrawing and Financial Aid
You may be required to repay some of your financial
aid if you withdraw from school. See a counselor
for further information or
Withdrawing and Financial Aid.
OTHER RESOURCES
Student Employment
The Student Employment Office posts an average
of 600 part-time on-campus and off-campus
jobs for students who were not awarded work-study.
Jobs are posted on the
available jobs page.
In addition, an on-call temporary employment service allows
students to register for occasional work including
one-time babysitting, yard work, clerical jobs,
etc. Studies indicate that students who work part
time are as successful academically as those who
do not. Freshmen usually work 8-15 hours a
week. Visit the Student Employment office
in Regent 205, or phone 303-492-7349 for more
information.
Student Work Assistance Program
The Student Work Assistance Program
(SWAP) gives students who have a room and
board contract a credit against their housing
bill in exchange for hours worked in one of
the dining centers. Phone 303-492-6325 for
more information.
Scholarships
Visit our Scholarship Services page
for more details.
Scholarships are funded by donations from private
individuals, corporations, foundations, and
the state of Colorado. Scholarships do not have
to be repaid and can be based on academic
achievement, financial need, affiliation, or any
combination of these. Financial need is rarely
the primary factor considered, but is often used
to make a final decision among equally qualified
scholarship applicants. For this reason, we
encourage you to apply for financial aid by
submitting the FAFSA even if you are only
interested in merit scholarships.
In addition, if you are applying for scholarships that have a
financial need requirement, results of your
FAFSA must be on file no later than mid-March.
For this reason, we recommend that
you submit the FAFSA to the Federal Student
Aid Programs office by the end of January.