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Maintaining Eligibility
Defaulting on Loans
You go into default (definition) on a loan by not paying your monthly payments. If you enter into default you will have to rehabilitate that loan before you can get any further financial aid. If you default on a Stafford loan you will have to make payment arrangements with the lender/guarantee agency (Debt Collection Services in the case of a CU-Boulder administered Stafford or PLUS Loan). You can find out who your lender/guarantee agency is at nslds.ed.gov. If you default on a Perkins loan, please contact the school where you borrowed the loan. If the Perkins loan is from CU-Boulder, contact the University Student Loan Office in the Debt Management Department of the Bursar's Office. To clear up the default status, please mail or fax (303-492-0838) a letter to our office, from your lender/guarantee agency stating that you’re no longer in default with that particular loan and your specific payment arrangements.
Dropping Classes
If you drop enough classes to take you below the amount of hours you were originally packaged for, your financial aid may be adjusted and be pulled-back from your bill and you will owe the university. Please contact our office if you are unsure of what effect dropping a class will have on your aid package.
Drug Conviction
A new law suspends federal student aid eligibility for students convicted under federal or state law for possession of or sale of illegal drugs.
If you have been convicted in the past, this does not automatically mean that you are ineligible for federal student aid. This worksheet will help you determine your eligibility.
Enrollment Levels
Enrollment level refers to how many hours you are enrolled in, which is directly related to how much financial aid you are eligible for. If your enrollment level drops, your financial aid may be adjusted and cancelled. As an undergraduate student; 1-5 hours is considered less than half time and you are not eligible for financial aid, including loans at less than half time. 6-8 hours is considered half-time, 9 to 11 hours is considered three-quarters time, 12+ hours is considered full time. Graduate students, please refer to our Graduate Students page for enrollment level information.
Satisfactory Academic Progress (SAP)
All students receiving financial aid must meet required satisfactory academic progress in order to be eligible for financial aid. Please visit our satisfactory academic progress policy page to read more.
Withdrawing
Depending on when you withdrawal, you may have some or all of your financial aid cancelled. More information can be found on our withdrawing page.
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