Disbursement of Aid
How Financial Aid Awards are
Disbursed
All financial aid funds can be used for
your educational expenses, including living expenses, while you
are in school. Now that we have explained how your financial aid
is awarded, you may be wondering how you receive the funds.
It is our intent to have your financial aid credited to your student account as early as 10 business days before the first day of class for each term. In accordance with federal regulation, this is the earliest date that aid can be disbursed. You must, however, have a complete application on file in our office to have your aid disbursed. If you apply late or do not complete your file promptly, your financial aid funds may be delayed. Almost all financial aid awards (with the exception of out-of-state loan checks, alternative loan checks, consortium checks, and some scholarship funds) are disbursed into your student account by the Office of Financial Aid. Contact our office for more information regarding the schedule of disbursements.
Things You Should Know about Disbursement
- In order for a disbursement to occur, you must have a complete file; you must be registered for the minimum credits required for your awards; you must not be on financial aid suspension; and you must have no holds on your financial aid file.
- Aid may be canceled if not disbursed by census date each semester.
- If you must buy books or if you need other financial assistance before your financial aid funds are available, you may be able to obtain a short-term loan against your pending financial aid award. Please contact our office for information about short-term loans.
- Disbursements for the current semester occur more frequently than disbursements to reimburse students for prior term awards. For example, during the spring semester, we disburse spring financial aid awards more frequently than we disburse the prior fall semester’s awards.
Proration of Financial
Aid Awards
All students will initially receive an
aid package quote that is based on full-time enrollment status (12
or more credit hours each semester) even if you indicated three-quarter
time (9 to 11 credit hours) or half-time (6 to 8 credit hours) anticipated
enrollment on your FAFSA. However, if you make any changes to your
enrollment status prior to the census date (which is the last day
of each semester that you can drop a full-semester course and have
it deleted from your academic record), your entire aid package will
be prorated if your enrollment status drops to less than full time.
Likewise, if you increase your enrollment status upward from half-
or three-quarter time enrollment prior to the census date, your
award package will be prorated to the appropriate enrollment level.
Please note that each time you adjust your enrollment status before
census date, your aid award will be prorated and your student account
will be adjusted for necessary increases or decreases in tuition
charges and financial aid prorations. The example below illustrates
the proration of a full-time award package. Note that the amount
of your actual financial aid award package depends upon your calculated
need.
The following is only an example.
| 12HRS | 9HRS | 6HRS | |
| Pell Grant | $1,350 | $1,013 | $675 |
| State or Federal Grant | $400 | $300 | $200 |
| Perkins Loan | $1,500 | $1,125 | $750 |
| Stafford Loans | $2,000 | $2,000 | $2,000 |
| Colorado or Federal Work Study | $2,500 | $2,500 | $2,500 |
* Generally, the amount of your Federal Stafford Loan will not be changed or prorated. If you are enrolled for less than 6 credit hours, you may only be able to receive a portion of your Federal Pell Grant, depending on your eligibility. Federal Pell Grants are prorated based on your Expected Family Contribution (EFC) and the number of credits you are taking each semester.
*Students maintain their full eligibility in Federal Stafford Loans and Work Study as long as they establish enrollment in 6 credit hours or more for the term.
Enrollment Status and Aid Proration
Freeze Date
Proration of aid ceases after each semester’s
census date. At that time, your aid package and the amount of aid
credited to your student account will be held at the appropriate
amounts based on your recorded enrollment status on census date.
No increases or decreases to your aid award will be made after the
census date based on changes to your enrollment status. However,
if you reduce your enrollment hours after the census date, you will
be subject to the Satisfactory Academic Progress (SAP) regulations
governing the completion rate for that term. All aid proration activities
will be reflected on your student account billing statements. Therefore,
we encourage you to change your enrollment status as little as possible.
Please note: If our office receives your FAFSA after the census date of the semester, aid will be disbursed according to your current enrollment rather than frozen hours. Federal Stafford Loans are ALWAYS disbursed according to current enrollment.
Accepting and Rejecting Financial
Aid Awards
Grants awarded are assumed to be accepted.
You will not have to do anything to receive this money other than
have a complete financial aid file.
Work-Study is offered to students. To have this award accepted, you will need to turn in your WK05 Form after it is filled out by your supervisor and yourself.
Satisfactory Academic Progress
Please visit
the Satisfactory Academic
Progress Section of our Website.