We make every attempt to make adjustments prior to the student receiving a refund; however, there are several reasons why adjustments are required after that timeframe. Read the following information to understand what actions could create new charges on the tuition and fee bill.
It is typical for students to drop and add courses during the first few weeks of class. Occasionally, students might be surprised to find out that the revisions to their schedule created new charges when they initially had enough financial aid funds available. Here are some tips to help understand how financial aid is impacted by schedule changes:
|Half Time||Full Time|
If our office receives notice at any time that a student is receiving scholarships, tuition assistance, or any other form of aid, we are required to reevaluate the original financial aid offered. We make every attempt to reduce loans first, but in some cases we must replace other need-based aid such as grants or work-study.
Whenever our office receives information that doesn’t match what was reported on the FAFSA, we are required to make corrections. The student or parent may also realize that an error was made or that there is an update to the FAFSA information. Please contact our office if this is the case.
If you have applied to graduate in December, your Federal Direct Loans are required to be pro-rated based on your fall enrollment. Here are examples of how the loan could be pro-rated:
|Fall Credit Hours||Annual Loan Amount||% Annual Loan||Prorated Fall Loan|
Nonresident students who petition for in-state residency will have their aid adjusted if they had been awarded aid at the nonresident level because the expenses for a Colorado resident are substantially less.
Typically financial aid is offered to students for the fall and spring semesters. If a student decides not to attend in the Spring semester due to graduation or any other reason, the financial aid will be adjusted to one term, which may result in owing aid back to the university. To avoid this, it is best to contact our office before the fall semester begins.
Our Satisfactory Academic Progess (SAP) policy may change your financial aid award, particularly if you take summer courses. Your SAP status is dependent on the courses you take and the grades you earn each semester. Since the turnaround time from Spring to Summer and Summer to Fall is so short (between the time grades are posted and a new semester begins), your aid may change (if you are on SAP) once we have processed your eligibility.