University Catalog

Eligibility for financial aid is based on the cost of attending CU-Boulder and the amount students and their families are expected to contribute toward the cost of attendance. Each year the financial aid office calculates the cost of attendance using local and national cost-of-living data.

The expected family contribution (EFC) is determined by an analysis of the student's FAFSA. A student's financial need is calculated by subtracting the EFC from the cost of attendance.

The financial aid award is funded from a combination of need-based and non-need-based financial aid sources in an effort to meet each applicant's total financial eligibility. Students may need to borrow educational loans and work part-time while they are in school.

Students submit the FAFSA to be considered for the following loan programs.

Federal Perkins Loan. The interest rate is 5 percent and students do not have to start repaying the need-based loan until nine months after they graduate or cease to be enrolled at least half time (6 credit hours).

Federal Direct Stafford Loan. Funds are awarded and disbursed by CU-Boulder. Students sign a promissory note for the loan, which has a fixed interest rate of 6.8 percent for loans disbursed on or after July 1, 2006. Annual limits depend on the year in school: freshmen can be awarded up to $3,500; sophomores, $4,500; juniors and seniors, $5,500; and graduate students, up to $8,500. The loan may be need-based and subsidized (interest does not accrue while borrowers are in school) or non-need-based. The interest on non-need-based loans may be paid while in school or borrowers can choose to have it deferred. Repayment begins six months after the student graduates or ceases to be enrolled at least half time (6 credit hours).

Federal PLUS Loan. This federal loan is available to graduate and parents of dependent students. The interest rate is fixed at 7.9 percent for loans disbursed on or after July 1, 2006. Repayment begins within 60 days of full disbursement of the loan. Typically, repayment begins in March for an academic year loan. Borrowers must complete a credit check. Note: Borrowing a PLUS loan will be regarded as parental support on in-state residency petitions for dependent students.

Federal Direct Stafford Loan - Additional Unsubsidized. This federal loan program is for independent students as defined by federal guidelines. The interest on this loan may be paid while in school or borrowers can choose to have it deferred. The deferred interest is capitalized at the time repayment begins. Repayment begins six months after the student graduates or ceases to be enrolled at least half time (6 credit hours). Loan limits are determined by year in school: freshmen and sophomores, up to $4,000 per year; juniors and seniors, up to $5,000 per year; graduate students, up to $12,000 per year.

Students submit the FAFSA to be considered for need-based work-study. Work-study students earn their award by working for on-campus or approved off-campus agencies. Students may apply for a variety of jobs at competitive rates. Jobs can be found online at cuconnect.colorado.edu. Students who are not awarded work-study may call 303-492-7349 to have their name added to the work-study waitlist. Please see our website at www.colorado.edu/studentemployment/waitlist.html for additional information.

Grants are awards that do not have to be repaid. Students submit the FAFSA to be considered for federal, state, and institutional need-based grants (including Pell, SEOG, Colorado Student Grant, etc.).

Students may apply for scholarships offered by the Office of Financial Aid online at www.colorado.edu/finaid beginning November 1 each year. To apply for scholarships that have a financial need requirement, results of your FAFSA must be on file in the financial aid office no later than March 3. Note: This is earlier than the financial aid priority deadline of April 1.

Scholarships are highly competitive at CU-Boulder. The selection committee considers academic achievement, honors, leadership, school activities, and service to the community. In most cases financial need is used to make a final decision between equally qualified candidates. Students should also search for scholarship opportunities within their academic program, college, club, or campus organization.

Students who receive a private scholarship from an organization outside the university must notify Scholarship Services in the Office of Financial Aid. In addition, students are encouraged to write to their donors and express their gratitude.

When a scholarship donor does not specify how to disburse the funds, the financial aid office equally divides awards of $1,000 or more between the fall and spring semesters. Private scholarships less than $1,000 are applied in full to the current semester bill.

Donors should mail their checks, payable to the University of Colorado, with a cover letter to:

• Scholarship Services
• University of Colorado at Boulder
• 77 UCB
• Boulder, CO 80309-0077

If a student's scholarship check is not received by the bill payment deadline, he or she should make other arrangements to pay the bill.

In accordance with the Higher Education Reconciliation Act of 2005, students who have been convicted under federal or state law for possession or sale of a controlled substance will be suspended from Title IV aid eligibility if the offense occurred while the student was receiving Title IV aid.

If a student is convicted for possession, the ineligibility period begins as of the date of the conviction and is:

• first offense = one year
• second offense = two years
• third offense = indefinite

If a student is convicted for sale of an illegal substance, the ineligibility period begins as of the date of the conviction and is:

• first offense = two years
• second offense = indefinite

A student may regain eligibility by successfully completing a drug rehabilitation program that complies with criteria established by the Department of Education. More information is available by calling the U.S. Department of Education at 1-800-433-3243.

Students who apply for financial aid at CU-Boulder are responsible for knowing and complying with the satisfactory academic progress policy. Briefly, the policy requires students to maintain a 2.00 grade point average (GPA) and complete at least 67 percent of the hours they attempt. Students are also limited to a maximum number of credit hours (generally 180 hours for a bachelor's degree) they can attempt.

Students must be enrolled in a CU-Boulder study abroad program to be eligible for financial aid through CU-Boulder's financial aid office. Students participating in a study abroad program through another university are not eligible for financial aid from CU-Boulder.

If a student enrolls at CU-Boulder, receives financial aid, then withdraws, his or her financial aid is adjusted according to federal regulations. The student may owe a refund to the university after the financial aid is adjusted. Visit www.colorado.edu/finaid/maintaining.html#withdrawing for more information.

Jobs provide students with income, work experience, and the opportunity to explore career options. Research studies indicate that students who work are as successful academically as those who do not. Freshmen usually work 8-15 hours per week. The Student Employment Office posts an average of 800 part-time on-campus and off-campus jobs for students. In addition, an on-call temporary employment service allows students to register for occasional work including one-time child care, yardwork, and clerical jobs.

Visit the Student Employment Office in Regent Administrative Center 205 or call 303-492-7349 for more information. Jobs may be viewed at cuconnect.colorado.edu.

This program gives students who are living in the residence halls a credit against their housing bill in exchange for hours worked in one of the dining centers. More information is available at 303-492-6325 or SWAP@housing.colorado.edu.