Â鶹ÊÓƵ

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:

• Financial aid refunds are typically given to students prior to the first day of school and the aid is based on the enrollment status at the time it was paid. If the enrollment level changes, the student’s budget will change and the amount of financial aid may be reduced.
• Grants are pro-rated based on enrollment status, so if a student is enrolled full time and then drops to less than full time they will have to repay the difference.
• Direct loans require at least half time enrollment to apply to the bill. If a student receives a loan and later drops below half time, the loan may be reduced or cancelled. Some private loans also require a minimum of half time enrollment to be eligible.
• New charges may be added to the bill even if the student's enrollment status stays the same after dropping one course and adding another. New courses may have different course fees attached.
• It is important to review the online bill via after the student has made final revisions to the class schedule.
• For financial aid purposes, students must make final schedule revisions by the third Friday of each semester. (Please note: Students are also responsible for understanding enrollment deadlines provided by the Registrar's Office and bill due dates provided by the Office of the Bursar.)
  • Note: Generally, students must be enrolled in at least half time by this date to be eligible for most grants. If circumstances beyond a student's control caused the schedule not to be finalized by this date and it impacted a student's aid, please contact our office.

Enrollment requirements can vary by type of aid. Review your specifc program requirements before making schedule changes.

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:

Nonresident students who petition for in-state residency will have their aid adjusted if they were offered 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 Progress (SAP) policy may change your financial aid, 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.