3rd Party Sponsors
Frequently Asked Questions for Students
- What is a 3rd party sponsor?
- What do I need to know about 3rd party sponsorships?
- How does a sponsorship work?
- What is a letter of authorization?
- How does CUBill&Pay affect students with Third Party Sponsors?
- Can I get a refund if my account shows a credit balance?
- I looked at my bill and my sponsor’s commitment isn’t there. What do I do?
- Why are late and service charges on my bill?
- What happens if my sponsor doesn’t pay?
- Do you send grades or transcripts to my sponsor?
- What about enrollment deposits?
- How do my privacy rights relate to my sponsorship?
- What if I have more questions?
- Who can help my sponsor with questions?
The College Opportunity Fund (COF)
The College Opportunity Fund (COF) is a state of Colorado program (sometimes called vouchers or stipends) that provides tuition credits to resident undergraduate students who apply for the program and authorize application of the credits to their accounts.
Unless a sponsor specifically indicates otherwise, the university will assume that all tuition-based awards to resident undergraduate students are meant to be tuition less eligible tuition vouchers (also called student share of tuition) without regard to whether the student has applied for the COF program and/or authorized application of the credits to his/her account.
For more COF information
COF registration website
1. What is a 3rd Party Sponsor?
A 3rd party sponsor is an entity not related to you who makes a commitment to pay your educational expenses when billed by the university (us).
Payments are called 3rd party sponsorships, and are subject to the same federal reporting requirements as other financial aid.
2. What do I need to know about 3rd party sponsorships?
- Find out what your sponsor's requirements are.
- Find out what the sponsor commits to pay.
- You are responsible for paying your portion of the bill by the due date; otherwise we will assess late and service charges on your account.
- We bill the sponsor for authorized charges on your behalf.
3. How does a sponsorship work?
The sponsor provides a letter of authorization at the beginning of each semester. We then credit your account conditionally for the expected amount, and late and service charges will not accrue for that amount. At the close of the add/drop period, we bill your sponsor on your behalf.
If the sponsor does not pay your bill, we remove the conditional credit from your account and we bill you. Until the charges are paid, you may be subject to late payment sanctions including assessments of late and service charges, inability to register for future terms, inability to obtain transcripts, etc.
4. What is a letter of authorization?
It is a document in which a sponsor commits to pay designated educational expenses for you. The letter from the sponsor specifies what they will pay, the period of coverage, and billing information. Sponsors usually send the letter to us directly, but some sponsors send the letter to the student.
If the letter is sent to you, complete any required information and submit to the Student Billing department before the due date to avoid late and service charges.
We will conditionally credit your account as long as we receive a letter of authorization by the first due date. We will not credit your account after the add/drop date until an actual payment is made by your sponsor. The balance owed is subject to late and service charges while it is outstanding. Payments made after the due date are subject to late and services charges.
5. How does CUBill&Pay affect students with Third Party Sponsors?
The new paperless billing system, CUBill&Pay, will NOT affect students with Third Party Sponsors. Students will continue to submit authorization forms for sponsors who wish to receive a bill in the mail. However, if a sponsor wishes to pay online, and not receive a paper bill, the student should sign the sponsor up as an authorized payer. After a sponsor is signed up, the account will not be considered a Third Party account. If you have additional questions, you may contact the Bursar's Office directly.
6. Can I get a refund if my account shows a credit balance?
We review sponsorship credits to determine whether they result from actual payments or conditional credits. We do not refund conditional credits.
After first refund date (Friday before school starts), credits resulting from overpayments, loans, and other financial aid may be refunded via direct deposit to your bank account. (Sign up for direct deposit on CUConnect under the financial tab.)
7. I looked at my bill and my sponsor’s commitment isn’t there. What do I do?
- To view your current account detail, go to the bursar billing channel on CUConnect at https://cuconnect.colorado.edu. If you cannot see the bursar billing channel, you can reset your CUConnect profile. Follow these instructions to reset your profile.
- If you do not see your sponsor’s commitment on your bill, it means we have not received a letter of authorization, or you may have not yet met your sponsor’s requirements.
- If you think an oversight has occurred, contact the Student Billing department at 303-492-5381 before your bill’s due date.
8. Why are late and service charges on my bill?
- Your sponsor’s letter of authorization was not submitted by the due date.
- You did not pay your portion of the bill by the due date.
9. What happens if my sponsor doesn’t pay?
You are legally responsible to pay the full cost of your educational expenses if the sponsor does not pay.
10. Do you send grades or transcripts to my sponsor?
The relationship between the sponsors and the university involves billing and payment matters only.
You are responsible for providing all other information required by your sponsor.
At times, letters of authorization contain information that is not relevant to billing. We do not follow up on that information. For example, your sponsor claims that health insurance is provided for you: you are responsible to choose or waive coverage in accordance with university policies and deadlines.
11. What about enrollment deposits?
Boulder students are required to pay a $200 enrollment deposit. When you leave the university, the enrollment deposit is applied to any unpaid charges, and the remainder is mailed to your permanent address about eight weeks after you leave the university.
12. How do my privacy rights relate to my sponsorship?
The Family Educational Rights and Privacy Act of 1974 (FERPA) allows universities to disclose student records or identifiable information without the student’s consent to persons or organizations providing financial aid (e.g., sponsorships) to the student.
13. What if I have more questions?
Call Student Billing Office at 303-492-5381
E-mail the Bursar's Office
14. Who can help my sponsor with questions?
Online Payments FAQs | 3rd Party Sponsors FAQs for Students | 3rd Party Sponsors FAQs for Sponsors | Current Students FAQs | Former Students FAQs
