Paying for College

Financing education after high school can be many things; stressful, eye-opening and time-consuming. It doesn’t have to be. It can also be a rewarding experience if you plan in advance. Your work now will pay off later.

Federal Need Based Aid

Eligibility is based on the information you provide on your Free Application for Federal Student Aid (FAFSA). Complete the FAFSA as early as October 1st of your senior year. By filing the FAFSA, your Estimated Family Contribution (EFC) is determined. EFC is a measure of your family’s financial strength based on a legal formula. The EFC is not the amount your family is expected to pay. It is an amount used by your college/university to determine how much aid you are eligible to receive.

Some private colleges/universities, in addition to the FAFSA, require you to complete the CSS Profile, which is available October 1st of your senior year. The CSS Profile application can be found at the College Board CSS webpage.

• Grants - Grants are free forms of student financial aid. Most grants do not require repayment, though some grants might need to be repaid if you do not fulfill your course requirements. Common grants are Federal Pell Grant and Colorado Student Grant.

• Student Loans - Federal Direct Loans are one type of financial aid that is available to help pay for the cost of your higher education. Subsidized, Unsubsidized and Parent-Plus loans are examples of federal educational loans.

• Work Study - Work-study provides an income source for students who need to work part time to cover their educational expenses. Students will apply to these jobs on their college campus.

Colorado Application for State Financial Aid

Overview: In 2019, the General Assembly passed H.B. 19-1196, Financial Aid For Students With In-state Tuition, which allows state aid to be awarded to students who do not have lawful immigration status but have resided in the state for at least three years before graduating from a Colorado high school or passing a high school equivalency exam.

The Colorado Application for State Financial Aid (CASFA) is the application by which students that meet the qualifications can apply for this aid. Students who do not have lawful immigration status and who do not meet the qualifications listed above are also encouraged to apply for institutional aid using the CASFA. Students who are eligible for Federal Title IV aid by completing the FAFSA should not complete the CAFSA.

Please visit CDHE's website for more details: https://cdhe.colorado.gov/colorado-application-for-state-financial-aid

Scholarships

• Institutional Scholarships - Most colleges/universities have grants and/or scholarship dollars that are awarded to students upon application to the institution. These awards can be based on merit (GPA & test scores) or financial need and often have early deadlines and other requirements.

  • Also check the school’s financial aid website for additional scholarships that may require a separate application.

  • Outside of academics, some athletes may be awarded full or partial athletic scholarships to help defray the costs of attendance (NCAA, NAIA, NJCAA). Please visit our College Athletics page for more information.

• Private Scholarships - Scholarships are often awarded based on merit and vary in terms of the amount awarded, due dates and application requirements. Academic scholarships are most often considered merit-based scholarships. Private scholarships are awarded by a variety of organizations. Check your employer, local banks, foundations and community organizations that you may belong to.

  • Common Scholarship Website Links: There are tons of private scholarships available. It takes time and planning as deadlines vary and qualifications vary. NEVER pay a company that says they will get you scholarships. Use the free resources available to you.

    • • FastWeb

      • Cappex

      • RaiseMe

      • Scholarships.com

      • Unigo

      • HBCU Specific Scholarships

      • Hispanic Scholarship Fund

      • Naviance > Colleges > Scholarships & Money > Local & Regional Scholarships

      • https://www.computerscience.org/scholarships-overview/

Helpful Videos

Still have questions, watch these short videos for more help.

FAFSA Overview

After the FAFSA

Determining Dependency Status for FAFSA

Types of Aid

How to Fill out the FAFSA

FAFSA ID and FAFSA tips for Parents

College Opportunity Fund (COF)

Tips

• Begin conversations about affordability sooner than later with your family.

• Gain an understanding of total costs (use Net Price Calculators found on every school’s financial aid page).

• Research sources of aid.

• Research your college of choice's financial aid webpage for specific details.

• Utilize Naviance scholarship lists and matches.

• Plan backward to meet deadlines.

• Apply! Keep Applying!