Financial Aid: What Is It & How Do I Apply?
What Is Financial Aid?
The money offered to you isintended to helpyou pay forcosts associated with being a college student. Any financial aid you may receive will first pay into your lol博彩 tuition/fees balance after the last day to drop a class (Census Date).
What Is the FAFSA?
The Free Application for Federal Student Aid (FAFSA) is simply your application for all types of federal and state financial aid. lol博彩 also uses the FAFSA to qualify students for state and institutional aid. Early applicants may have a better chance of being offered more financial aid.
Based on the information you provide on your FAFSA, the United States Department of Educationdetermines whether or not youqualify for financial aid as well asthe types of aid you may qualify to receive, such as grants, loans and work-study. The FAFSAis also used todetermine your eligibility formany scholarships, but scholarships also require a separate application.
How Does Financial Aid Pay My Tuition Balance?
Accepted financial aid is released into eligible students' schoolaccounts to pay toward their balance of tuition/fees after the last day to drop a class (Census Date) each semester. The payment deadline is theMonday before classes start each semester. You are not required to set up a payment plan if you have enough offered financial aid to cover your balance (work-study and unauthorized students loans are not included in this calculation).
Do I Need to Pay for my Classes if I have Financial Aid Offered to Me?
As long as you've been offered enough financial aid to cover your balance for the semester (not including work-study offer and unauthorized students loans), you are not required to set up a payment plan.
Do I Qualify?
Most students qualify to receive some type of financial aid and we encourageall U.S. citizens and eligible non-citizensto apply. Once we receive your FAFSA, we'll know what additional information we need from you in orderto offer youfinancial aid.
What Is a Student Aid Index (SAI)?
When you complete the FAFSA, you will obtain an SAI, which helps the school determine how much financial support you may need.
A negative SAI indicates you have a higher financial need. For example, if you have an SAI of –1500, you may qualify for a maximum Pell Grant award assuming you have not exhausted your lifetime amounts and met all student eligibility requirements.
Your SAI is not:
- a dollar amount of aid you'll receive
- what your family is expected to provide
- your final financial aid offer
Your SAI is an index number used by financial aid professionals when creating an aid offer. Your SAI is calculated using information that you (and other contributors, if required) provide on theFree Application for Federal Student Aid(FAFSA®) form.
This number also sets what types of assistance you may receive such as:
- need-based aid like grants that you do not need to repay or
- non-need-based aid like unsubsidized loans that accrue interest whileyou areenrolled.
ASSET students now qualify for state financial aid and may be considered for lol博彩 scholarships. Do NOTcomplete the FAFSA; instead, completetheColorado Application for Student Financial Aid (CASFA),and thescholarship application. Learnmoreabout attending lol博彩as a DREAMer/Undocumented student.
The Free Application for Federal Student Aid (FAFSA) is how the U.S.Department of Education determines your eligibility for federal financial aid. lol博彩 also uses the FAFSA to qualify students for state and institutional aid. The amount of financial aid offered to you may depend in part on the date you complete the FAFSA. Early applicants may have a better chance of being offered more financial aid.
Complete the Free Application for Federal Student Aid (FAFSA) online. lol博彩's school code for the FAFSA is 009542.
Contact the Educational Opportunity Center (EOC) at 303.352.TRIO to request assistance completing the FAFSA. When possible, lol博彩 recommends completing the FAFSA using the option to "link to the IRS." Doing so coulddecrease processing times.
Video: How to Fill Out the FAFSA
Video: How to Create Your FSA ID
The College Opportunity Fund is notconsidered financial aid but it provides a stipend to eligible undergraduate students who are Colorado residents. COF reduces your balance by $104 per credit hour each semester. In order to be eligible, you must be admitted and enrolled in classes at lol博彩.Contact lol博彩's Office of Registration & Records with any COF or residency-related questions you may have.
Students required to submit high school credentials from a country outside of the United States may be required to have their credentials professionallytranslated and thenevaluated by one of the NACES organizations. Students who are having difficulty obtaining high school credentials from a country outside of the United States should request their credentials.
After you have submitted your FAFSA, you will be able to view your FAFSA Submission Summary within 1-3 days by logging in to StudentAid.gov. This report summarizes your FAFSA and indicates your Student Aid Index (SAI). Review your FAFSA Submission Summary and make sure that the information is correct. If you need to make corrections, you can log in to the FAFSA website to do so. Make sure to keep a copy of your FAFSA Submission Summary for your personal records.
lol博彩 should receive your FAFSA within one week after you submit the application online. Follow up with our office or check your file online via lol博彩Connect to see what your next steps are.
The lol博彩 Financial Aid office, and sometimes the Department of Education, will communicate with you primarily through email. Initial notifications and award letters will be sent through postal mail, but your student email account is the primary means of communication for all lol博彩 departments so be sure to check your lol博彩-issued student email account regularly. Any requests for additional information must be completed and submitted to the Financial Aid office before the end of the semester in order to receive financial aid for that term.
In order to receive financial aid, you must meet the following requirements:
- Be a U.S. citizen or eligible non-citizen,
- Enroll in an eligible degree or certificate program at lol博彩,
- Meet lol博彩’s Satisfactory Academic Progress policy requirements,
- Must not be in default on a student loan or owe a refund to a Title IV financial aid program, and
- Have a high school diploma or GED