Financial Aid Home


DEC 20 

Last Day to Work Fall Work-Study

DEC 24-25 

Campus Closed

Applying for Federal Student Loans

What types of federal student loans are available?

Federal Stafford Loans are for undergraduate, graduate and professional students enrolled at least half-time. As of July 1, 2010, Federal Stafford Loans are made to students only through the Federal Direct Loan program.

Federal Perkins Loans are low-interest loans for both undergraduate and graduate students with exceptional financial need. Students are not guaranteed to receive this type of loan every year as funding is limited.

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How much can I borrow?

Loan limits for federal student loans are determined by the Department of Education.  The annual limit for an undergraduate student borrowing a Perkins Loan is $5,500, but Stafford Loan limits vary depending on grade level and whether the student is dependent or independent.  Learn More

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I have accepted my loan via the student portal, now what do I do?

If you already have a Master Promissory Note (MPN) on file with our school, then you do not need to do anything else.  If you do not have a MPN on file, visit to complete this step.  Your loan funds will be available approximately three days before the semester begins. 

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How is the loan applied toward my tuition bill?

Once the loan has been accepted in the student portal and we have verified that your Master Promissory Note is on file we will apply the loan to your tuition bill first. Any remaining loan will be refunded to you via direct deposit approximately three days prior to the beginning of the semester. Learn how to sign up for direct deposit.

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Is a credit check required to borrow a federal student loan?

Credit checks are not required for federal student loans. However, students who want to borrow private student loans will be required to do a credit check and will often need a co-signer.

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How do I cancel or reduce my student loan?

If you have already accepted your loan, you will need to complete the Loan Cancellation form and submit it to the Office of Financial Aid in-person or by fax, 303-492-0838.

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Can I borrow more in a student loan if my parent is unable to borrow a Federal PLUS Loan?

If the parent applicant is not approved for the PLUS loan, he or she will have the ability to obtain an endorser by logging on to  If the parent does not have an endorser, the student can contact our office to request an additional unsubsidized Federal Stafford Loan.

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I received a Perkins Loan last year, why wasn't I awarded one this year?

You are not guaranteed to receive a Perkins Loan every year as funding is very limited.

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What is the difference between a federal student loan and a private student loan?

Federal loans are funded and regulated by the federal government and carry lower interest rates. To receive a private student loan, you'll need a solid credit history, a co-signer or both. Bank loans carry a higher interest rate than federal loans. You should exhaust all your federal aid options and then move to the private sector if you still need more.

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When do I have to start paying the loan back?

After you graduate, leave school, or drop below half-time enrollment, you have a period of time before you have to begin paying back your loans. This "grace period" is six months for a Federal Stafford Loan and nine months for Federal Perkins Loans.  Learn more about managing repayment of your student loans.

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