Financial Aid

The Metropolitan State College of Denver financial aid program provides assistance and advice to students who would be unable to pursue their education at the College without such help. Scholarships, grants, loans and part-time employment are available singly or in various combinations to meet the difference between what the student and the student’s family could reasonably be expected to provide and the expected cost of attending Metro State.

The 2010-2011 academic year expenses are as follows for a student not living with parents:

Tuition and fees are set by Metro State and the Colorado Commission on Higher Education and are subject to change without notice. All students are placed on a single-person budget. Additional allowances may be made for students with day-care costs for dependent children. Budgets are based on fulltime enrollment of 12 credit hours.

To qualify for financial aid, a student must be a U.S. citizen or eligible noncitizen; be registered with Selective Service (if required); have financial need; be degree-, licensure-, or certificate-seeking; be making satisfactory academic progress; and not be in default on a federal education loan or owe a repayment on a federal grant.

Students must complete the Free Application for Federal Student Aid (FAFSA) each year to determine financial aid eligibility. For quicker processing, we strongly recommend that returning, transferring and entering students complete their FAFSA or Renewal FAFSA on the Web at: www.fafsa.ed.gov. Metro State’s Title IV School Code is: 001360.

Students should complete and submit the FAFSA or Renewal FAFSA to the federal processor as early as possible (after January 1st), preferably no later than mid-February, and submit all requested documents to the Metro State Office of Financial Aid by March 12th.

Detailed information concerning application procedures is provided on our Web site at: www.mscd.edu/financialaid.

The amount of funds made available to students depends on the maximum award allowed by regulation of each program, the student’s established financial need, duration of the student’s enrollment, and funds allocated to the College by the state and federal governments.

Grants are gift money from the federal or state government and do not have to be repaid.

Federal Pell Grants are federal funds and awarded to undergraduate students who have not yet received a bachelor’s degree and who are U.S. citizens or eligible non-citizens. The amount of the award is based on each student’s financial eligibility and the number of hours for which the student is enrolled.

The amount of Federal Pell Grant awards for the 2010-11 academic year will range from $659 to $5,500 for those students who qualify. Full-time, half-time, or less than half-time students may qualify for a Federal Pell Grant.

Federal Supplemental Educational Opportunity Grants (FSEOG) are federal funds awarded to undergraduate students who have not yet received a bachelor’s degree and are U.S. citizens or eligible non-citizens. This grant is awarded to students who demonstrate exceptional need. The amount of FSEOG awards range from $100 to $300 per Fall and Spring semesters.

Colorado College Responsibility Grants (CCRG) are state funds awarded to Colorado residents with demonstrated financial need. Eligible students have no prior bachelor’s degree, are U.S. citizens or eligible non-citizens, and are enrolled full- or part-time (at least six credit hours for the Fall and Spring semesters) at Metro State. The amounts of the CCRG award ranges from $100 to $600 per Fall and Spring semesters.

Colorado Leveraging Educational Assistance program (CLEAP) are a combination of federal and state funds awarded by the same criteria as CCRG. The amount of the CLEAP award is $200 per semester.

Metropolitan State College of Denver offers numerous scholarship opportunities for both incoming and continuing students. By submitting the Metropolitan State College of Denver Scholarship Application by March 1st “Priority Consideration Deadline” each year, you will automatically be considered for all Metro State scholarships for which you are eligible for the next academic year. The Metro State Scholarship Application is available for online submission at: www.mscd.edu/enroll/financialaid. A printable version of the application is also available for download at this location.

Students must be enrolled at least half-time, be degree-, certificate- or licensure-seeking, be making satisfactory academic progress, and not be in default on a federal education loan or owe a repayment on a federal or state grant to receive a scholarship.

Athletic Scholarships: Metro State has a limited number of athletic scholarships. For additional information, contact the Metro State Intercollegiate Athletics Office (303-556-8300).

Private Scholarships: Students should refer to the Metro State scholarship Web site (www.mscd.edu/enroll/financialaid) for information regarding scholarships and to access free online scholarship searches.

Receipt of a scholarship may affect a student’s financial aid award because students receiving federal and/or state aid are limited in the maximum amount and type of aid that can be received. A student whose full need has been met by other types of financial aid prior to receipt of a scholarship will have that aid reduced by the amount of the scholarship. If the student’s full eligibility has not been met, the scholarship will be allowed to satisfy the unmet need. Each student’s situation is treated individually. All scholarships are based on the student’s continued eligibility and available funding.

Federal Perkins Loans are long-term federal loans that are awarded based on the student’s need and Metro State’s available funds. Federal Perkins Loans can range from $100 to $1,500 per semester. Repayment of the loan begins nine months after the student graduates or ceases to be enrolled in at least six credit hours each semester. The interest rate is 5 percent and interest begins to accrue at repayment. All first-time borrowers at Metro State are required to perform a Perkins Loan Entrance Interview over the Web before loan funds can be released to them.

Federal Family Education Loans (FFEL) include Federal Stafford Loans, unsubsidized Federal Stafford Loans, and Federal PLUS Loans, which help students and/or their parents to borrow funds to help meet educational expenses. To borrow these funds, students and/or their parents must complete and submit, in addition to the FAFSA, a separate lender application to the Metro State Office of Financial Aid. Students must be enrolled at least six credit hours each semester and be degree-, certificate- or licensure-seeking and be making Satisfactory progress with a complete file. Interest rates vary depending on the type of loan and the date the student borrows the first Federal Family Education Loan. For further information on interest rates, check the Metro State Financial Aid Web site as they vary each year. First time borrowers at Metro State are required to perform a Loan Entrance Interview over the Web before loans funds can be released to them. For additional loan information please visit our Web site. You will find details of how to apply annual limits and lenders.

Subsidized Federal Stafford Loans: are based on the student’s need as determined by the Metro State Office of Financial Aid. Interest does not begin to accrue until six months after the student graduates or ceases to be enrolled in school at least half time (six credit hours per semester).

Unsubsidized Federal Stafford Loans: These loans have many of the same terms and conditions as the Federal Stafford Loan. The main difference is that the students are responsible for the interest that accrues while they are in school and during the six-month grace period after they graduate or cease to be enrolled in at least six credit hours.

Federal PLUS Loans: These loans are available to parents of dependent students. Applications are available from the Metro State Office of Financial Aid. Applications must first be submitted to the Office of Financial Aid for processing. At Metro State, parents of dependent students may borrow up to the cost of education minus the amount of financial aid received by the student from other sources each year.

Please refer to the Metro State Financial Aid Web site (www.mscd.edu/financialaid) for more detailed information regarding loans.

The State of Colorado, the federal government and Metro State provide part-time employment programs for students. The maximum work-study award is $2,500 per semester. The maximum hours a student may work is 30 hours per week while classes are in session and 40 hours per week between semesters. Students must be enrolled in at least six credit hours per semester to receive a work-study award. The majority of all work-study awards are need-based, however, there are a limited number of positions that are no-need awards.

Once student eligibility is determined, an aid package is developed based on the availability of funds and the eligibility of the applicant. To facilitate financial aid packaging requirements, applicants must obtain all requested information and forms from designated sources and submit them to the Metro State Office of Financial Aid before the established deadline.

After the Office of Financial Aid has determined the type and amount of aid for which a student qualifies (aid package), the student is emailed an Award Notification.

Disbursement Procedures:

• Awards are based on full-time enrollment. If a student is enrolled for less than 12 credit hours each semester, the award may be reduced/prorated. The final award adjustment occurs on census date (about the 12th day of school each fall and spring semester and the 8th day of the summer semester).
• Grants, Scholarships and Student Loans: All financial aid awards (with the exception of out-of-state loan checks, consortium checks and some scholarship funds) are disbursed into the student’s account. The Business Office deducts any outstanding balance owed, including current tuition and fees, and issues a check for the remaining funds. This check is either mailed to the student or the student can pick it up at the Cashier’s Office. This check can be used to purchase books and pay other educationally related expenses.
• Parent Loans: Federal PLUS funds are electronically submitted or mailed from lenders to Metro State’s Office of Financial Aid. Eligibility is verified and then the check is mailed to the parent borrower unless the parent authorizes the student to receive the refund.
• Work Study: Work-study earnings are paid biweekly and are treated as wages earned. Outstanding balances owed to Metro State are not deducted from these earnings; however, students are strongly advised to pay any outstanding balance as soon as a work-study check is received.

Please refer to the Metro State Web site (www.mscd.edu) for information regarding proration of aid disbursements.

Students who receive financial aid and withdraw officially or unofficially from Metro State prior to completion of a term may be required to repay a portion of financial aid and scholarships. All required financial aid repayments must be made to Metro State before the end of the current academic year or before additional Title IV funds can be disbursed to the student, whichever occurs first. Repayment is made to the Metro State Business Office. Please go to Metro State’s Web site (www.mscd.edu) for more specific information.

Please refer to Metro State’s Web site (www.mscd.edu) for information regarding payment of tuition and fees with awarded aid.